Diplomat News Network – Somalia & Global News

Business

Sanae Takaichi, Prime Minister of Japan.

Japan Moves to Relax Arms Export Ban in Major Policy Shift

22/04/2026 - 00:53:53
0 Comments
775
Jalajed Aden
Tokyo (Diplomat.so) – Government of Japan (Cabinet Office) announced on Tuesday, a partial revision of long-standing defense export rules allowing, in principle, the transfer of domestically produced defense equipment, including lethal finished weapons, to overseas partners for the first time since…
Prime Minister Mark Carney

Carney Warns U.S. Trade Shift Threatens Canada Economy

21/04/2026 - 22:17:42
0 Comments
710
Amin Guled
Ottawa (Diplomat.so) - Prime Minister Mark Carney of Canada said in a video address released Sunday, April 19, that Canada's economic dependence on the United States has become a strategic vulnerability requiring urgent adjustment.
Iranian Foreign Minister Abbas Araghchi says the Strait of Hormuz falls under the territorial control of Iran and Oman [File: Khaled Elfiqi/AP Photo]

Iran Reopens Hormuz Strait, Oil Prices Drop

17/04/2026 - 22:21:46
0 Comments
680
Aden Abdi
Tehran (Diplomat.so) – Abbas Araghchi, Iran's Minister of Foreign Affairs, announced on Friday, that Iran has fully reopened the Strait of Hormuz to commercial shipping during the remaining period of a temporary ceasefire with the United States.
German arms exports to Israel did not include heavy weapon systems such as tanks or artillery.

Germany Approves €6.6M Arms Exports to Israel

16/04/2026 - 16:44:56
0 Comments
802
Hared Abdalla
Berlin (Diplomat.so) - Germany's Federal Ministry for Economic Affairs and Climate Action approved €6.6 million in arms export licenses to Israel between 28 February and 27 March 2026 during the early weeks of the Israel–Iran conflict following coordinated strikes that escalated regional tensions.
Russian oil exports rise as global prices surge following Strait of Hormuz disruptions.

Strait of Hormuz Tensions Boost Russia's Export Revenue

07/04/2026 - 18:50:54
0 Comments
1179
Hared Abdalla
Moscow (Diplomat.so) – The German-Russian Chamber of Commerce reported on Tuesday, that Russia has earned billions of euros in additional revenue from oil, gas, and fertilizer exports due to the effective closure of the Strait of Hormuz.
Turkish drillship Çağrı Bey arrives in Somali waters to launch the Curad-1 offshore oil project.

Somalia to Launch Historic Offshore Oil Exploration Project

05/04/2026 - 20:12:06
0 Comments
893
Waeis Amin
Mogadishu (Diplomat.so) – Türkiye's ultra-deepwater drilling vessel, Çağrı Bey, arrived in Somali waters off Mogadishu on Sunday, April 5, to begin the country's first offshore oil drilling campaign at the Curad-1 well. The project marks a key milestone in bilateral energy cooperation…
Smallholder farmers harvest cassava in Ogun State, Nigeria, as part of efforts to boost agricultural productivity and market access under new development initiatives.

World Bank Approves $500M Loan for Nigeria Agriculture

03/04/2026 - 23:15:23
0 Comments
764
Guled Abdi
Abuja, Nigeria (Diplomat.so) – The World Bank has approved a $500 million low-interest credit, to support Nigeria's agricultural sector through the Nigeria Sustainable Agricultural Value-Chains for Growth Project (AGROW), targeting smallholder farmers, agro-processing, and market linkages.
Fresh tomatoes displayed at a local market in Accra, Ghana, as traders respond to renewed cross-border supply flows from Burkina Faso.

Ghana Welcomes Burkina Faso Tomato Export Lift

03/04/2026 - 20:03:56
0 Comments
531
Guled Abdi
Accra (Diplomat.so) - Ghana's Ministry of the Interior confirmed on Thursday, that Burkina Faso has lifted its suspension on fresh tomato exports, a move expected to ease supply constraints and stabilise prices in Ghanaian markets.
Tehran skyline erupts as explosions rock the city following reported US-Israel airstrikes.

UN: War Threatens Middle East Economic Stability

01/04/2026 - 17:17:35
0 Comments
824
Aden Abdi
Tehan (Diplomat.so) - The United Nations Development Programme warned Tuesday, that one month of war in the Middle East could erase last year's economic growth across Arab countries and trigger a sharp contraction in Iran.
One of the world's most critical energy chokepoints, the Strait of Hormuz carries a large share of global oil and gas trade. (EPA Images pic).

Malaysia Ships Granted Free Passage Through Hormuz Strait

01/04/2026 - 15:42:49
0 Comments
884
Jalajed Aden
Kuala Lumpur (Diplomat.so) - The Government of Malaysia confirmed on Wednesday, April 1, that Malaysian vessels awaiting passage through the Strait of Hormuz will transit without paying fees to Iranian authorities, Communications Minister Fahmi Fadzil, who also serves as government spokesperson, said…
Officials from Afreximbank and Dangote Industries meet in Cairo.

Afreximbank Backs Dangote Refinery with $2.5B Loan

01/04/2026 - 02:05:35
0 Comments
1071
Guled Abdi
Cairo (Diplomat.so) – African Export-Import Bank (Afreximbank) has underwritten US$2.5 billion of a US$4-billion senior syndicated term loan in favor of Dangote Petroleum Refinery and Petrochemicals FZE (DPRP) on Tuesday, strengthening the refinery's financial base and supporting its long-term…
Reserve Bank of India (RBI)

Indian Rupee Rebounds After RBI Limits Bank Trading

31/03/2026 - 21:57:41
0 Comments
475
Jalajed Aden
New Delhi (Diplomat.so) – The Reserve Bank of India (RBI) triggered a sharp rebound in the Indian rupee on Tuesday, by capping banks' net open foreign-exchange positions at $100 million per day, marking its most decisive currency intervention in over a decade.
Sun King, the world's largest off-grid solar provider, begins major investment in Ethiopia.

Ethiopia Secures $13B in Investment Deals

29/03/2026 - 17:44:10
0 Comments
1656
Guled Abdi
Addis Ababa (Diplomat.so) - The Ethiopia Investment Commission said it secured $13 billion in investment commitments during a national conference in Addis Ababa that concluded Friday, drawing foreign investors into manufacturing, energy, and agriculture sectors, according to Reuters.
Vladimir Putin, President of Russia.

Russia Bans Export of Gold Bars Over 100g

27/03/2026 - 08:58:23
0 Comments
2954
Hared Abdalla
Moscow (Diplomat.so) – The Russian government has issued a decree prohibiting the export of refined gold bars weighing more than 100 grams from the country, effective May 1, 2026, President Vladimir Putin announced on Thursday.
The Sierra Leone-flagged Sara Sky, which is carrying crude oil from Russia, is seen anchored at Limay port, Bataan province on March 26, 2026. A ship carrying more than 700,000 barrels of Russian crude oil has arrived in the Philippines, a source with knowledge of the matter told AFP on March 26, days after the country declared a national energy emergency over the Middle East war. TED ALJIBE / AFP

Philippines Receives First Russian Oil in Five Years

27/03/2026 - 06:22:37
0 Comments
730
Jalajed Aden
Manila (Diplomat.so) – Petron Corporation received a shipment of over 700,000 barrels of Russian crude oil at the Limay port near Manila, marking the first direct import from Russia to the Philippines in five years, sources told AFP on Thursday.
U.S. President Donald Trump.

Trump Says Iran Offered "Very Large" Energy Gesture

25/03/2026 - 16:29:07
0 Comments
857
Amin Guled
Washington, D.C. (Diplomat.so) – U.S. President Donald Trump on Tuesday said the Iran had presented what he described as a "very large" gesture related to oil and gas, while confirming that the United States is maintaining communication with intermediaries in Iran amid efforts to pursue a…
Singapore's Foreign Minister Vivian Balakrishnan arrives to attend the 57th Association of Southeast Asian Nations (ASEAN) Foreign Ministers' Meeting in Vientiane, Laos on July 27, 2024. (PHOTO / AFP)

Singapore Flags Iran War Risk to Asia Economy

24/03/2026 - 05:02:14
0 Comments
708
Jalajed Aden
Singapore (Diplomat.so) – Singapore's Minister of Foreign Affairs, Vivian Balakrishnan, warned on Monday, that escalating conflict involving Iran could trigger a severe economic crisis across Asia by disrupting critical energy supplies through the Strait of Hormuz.
Fatih Birol

IEA Warns Middle East Energy Damage Hits 40 Assets

23/03/2026 - 21:24:38
0 Comments
565
Hared Abdalla
Paris (Diplomat.so) – International Energy Agency Executive Director Fatih Birol stated that more than 40 energy assets across nine Middle Eastern countries have suffered "severe or very severe" damage following the U.S.-Israeli war on Iran, during a recent speech in Canberra, Australia, on…
Iranian oil tanker.

US Treasury Authorizes Limited Iranian Oil Sales

21/03/2026 - 03:49:56
0 Comments
720
Amin Guled
Washington, D.C. (Diplomat.so) - The United States Department of the Treasury on Friday authorized the sale and delivery of Iranian oil and petroleum products stored aboard tankers at sea until April 19, a targeted measure aimed at easing pressure on global energy prices amid disruptions linked to conflict…