Business

Brussels (Diplomat.so) - The European Parliament on Monday postponed a key committee vote on the European Union's emerging trade deal with the United States, following U.S. President Donald Trump's decision to impose a blanket 15% import duty after the U.S. Supreme Court overturned his earlier…

Bratislava (Diplomat.so) - Slovakia's prime minister, Robert Fico, on Saturday accused President of Ukraine Volodymyr Zelensky of acting "maliciously" after the shutdown of Russian crude deliveries through the Druzhba pipeline, intensifying a dispute over energy transit in the region.

Mogadishu (Diplomat.so) - The Somali Civil Aviation Authority on Thursday suspended eight aircraft from operating in the country after new ramp inspections uncovered what officials described as "serious safety deficiencies" and violations of international aviation standards. The enforcement…

Riyadh (Diplomat.so) - The Minister of Ports and Marine Transport of the Federal Government of Somalia, Abdulkadir Mohamed Nur, on Thursday signed a maritime cooperation agreement with Saudi Arabia's Minister of Transport and Logistic Services, Saleh bin Nasser Al-Jasser, during an official visit…

Islamabad (Diplomat.so) - The United Arab Emirates has agreed to roll over a $2 billion deposit placed with the State Bank of Pakistan, giving Islamabad critical short-term support just weeks before a key review of its $7 billion Extended Fund Facility with the International Monetary Fund (IMF), senior…

Mogadishu (Diplomat.so) - The Prime Minister of the Federal Government of Somalia, Hamza Abdi Barre, inaugurated on Tuesday the newly completed Arimas Terminal at Aden Abdulle International Airport, hailing the project as a major advancement in the country's aviation infrastructure. The terminal's…

Riyadh (Diplomat.so) - The Saudi Railway Company (SAR) signed a major procurement agreement on Sunday with Talgo, the Spanish high-speed rail manufacturer, to acquire 20 new trainsets for the Haramain High-Speed Railway, marking a significant expansion of transport capacity between Makkah and Madinah.…

Harare (Diplomat.so) - US-based mining firm Caledonia Mining Corporation has secured $150 million through a seven-year bond issue to finance the development of its Bilboes gold project, which is expected to become Zimbabwe's largest gold mine once operational.

Mogadishu (Diplomat.so) — The Minister of Commerce and Industry of Somalia, Amb. Gamal Mohamed Hassan, on Tuesday held a meeting with representatives of the business community in the Banadir region to discuss ways to strengthen the country's commercial sector.

Mogadishu (Diplomat.so) - Hormuud Telecom, Somalia's leading telecommunications provider, reported the destruction of one of its key communications towers in Dhuyac‑garoon, Lower Juba region, southern Somalia. The company alleges the tower was deliberately targeted, echoing a similar attack on…

Ankara (Diplomat.so) - Türkiye's Energy Minister Alparslan Bayraktar said the ultra-deepwater drillship Çağrı Bey is expected to begin offshore drilling operations in Somali waters between April and May this year, marking a key phase in Türkiye's overseas energy exploration program.

Riyadh (Diplomat.so) - Global oil prices fell by more than 4% during Thursday's trading, reversing strong gains recorded in the previous session, as investors reassessed market signals and market sentiment weakened.

Tehran (Diplomat.so) - Germany's Lufthansa Group will not resume flights to Iran's capital, Tehran, until the end of January, citing the ongoing political situation, a company spokesperson said on Monday.

Tokyo (Diplomat.so) – Japan's SoftBank subsidiary SB Energy announced a $1 billion joint investment with OpenAI to expand AI data center and energy infrastructure under the Stargate project. Both OpenAI and SoftBank will contribute $500 million each.

Washington (Reuters + Diplomat.so) - Global investors are facing heightened geopolitical risk after the United States captured Venezuelan President Nicolas Maduro, a move that could eventually unlock the country's oil reserves but may prompt short-term market volatility. Maduro, whom the U.S. has…

Kabul (diplomat.so) - The Taliban have taken over operations of Kabul's only luxury hotel, the Serena Hotel, following its closure by the Aga Khan Fund for Economic Development. The hotel ceased operations on February 1, with management transferred to the state-run Hotel State Owned Corporation…

Ivanpah, CA, United States (Diplomat.so) - The Ivanpah solar power plant, once hailed as the world's largest of its kind, is facing potential closure after just 11 years in operation. Opened in 2014 near the California-Nevada border, the plant struggled to compete with more affordable green energy…

Istanbul (diplomat.so) - Turkish President Recep Tayyip Erdoğan presided over a farewell event in Istanbul for the Oruç Reis research vessel, which is embarking on an important mission to conduct 3D seismic surveys off the coast of Somalia.

Cairo (diplomat.so) - Abu Dhabi-based sovereign fund ADQ has designated UAE's Modon Holding PSC as the master developer for the expansive Ras El Hekma project on Egypt's north coast, Modon announced in a statement on Friday. The project, located along the Mediterranean coast, is part of a $35…

Nairobi (diplomat.so) – The Kenyan government has formally asked the International Monetary Fund (IMF) to conduct an official assessment of corruption and governance issues, following pressure from Western nations. The IMF confirmed the request, which aims to investigate governance vulnerabilities…