Browsing Tag

deal

Somalia, Turkish firm OYAK sign major deal to develop the blue economy

ANKARA, Turkey — Somalia finalized a wide-ranging cooperation pact with Turkish industrial group OYAK on Tuesday, launching a program to expand and modernize the Horn of Africa nation’s fisheries while strengthening maritime security and creating jobs along its coast. Somalia’s Minister of Fisheries and Blue Economy Ahmed Hassan Adan signed the Cooperation and Marine Production Development Partnership at a ceremony in Ankara, calling it a step-change for the country’s blue economy. The agreement, he said, will channel direct…

Somalia and Turkish conglomerate OYAK sign deal to develop blue economy

Ankara, Turkey — Somalia signed a sweeping cooperation agreement with Turkish industrial group OYAK on Tuesday, launching a multi-year push to modernize the country’s fisheries and blue economy while tightening maritime security and creating jobs along its coastline. The pact, finalized by Somali Minister of Fisheries and Blue Economy Ahmed Hassan Adan in Ankara, formally establishes the Cooperation and Marine Production Development Partnership. The initiative is structured to protect Somalia’s marine environment and unlock…

Kenya seals $311 million power transmission lines deal with Africa fund, Indian firm

NAIROBI, Kenya — Kenya has signed a $311 million agreement with pan-African infrastructure fund Africa50 and PowerGrid Corporation of India to design, finance, build and operate two high-voltage electricity transmission lines under a public-private partnership, the finance ministry said Monday. The deal marks one of the East African nation’s largest power-grid concessions to date and is intended to ease chronic constraints on the network as demand grows. The project company will manage the full life cycle of the assets —…

France, Italy seek to delay vote on EU–Mercosur trade deal

France and Italy are pushing to delay a final European Union vote on the Mercosur trade agreement, a last-minute intervention that threatens to derail a pact 25 years in the making and billed as the EU’s largest deal by tariff relief. The move comes days before European Commission President Ursula von der Leyen is due in Brazil to sign the agreement with Argentina, Brazil, Paraguay and Uruguay, and amid heightened pressure on the bloc to show unity. Supporters say the EU-Mercosur deal would diversify European trade away from…

Kenyan Court Halts $1.6B U.S. Health Deal Amid Data Privacy Challenge

Kenya’s High Court on Thursday temporarily halted a $1.6 billion Kenya–U.S. Health Cooperation Framework, citing privacy concerns over the transfer of Kenyans’ medical and epidemiological data. Justice Bahati Mwamuye issued conservatory orders after the Consumers Federation of Kenya petitioned the court to stop implementation until the state provides safeguards for how sensitive health information would be handled. In an interim ruling, the judge paused any move by the State Law Office, the Senate and other government…

Kenya and U.S. sign major health pact despite data privacy concerns

Kenya signs $2.5 billion health pact with U.S., first under Trump-era overhaul; data privacy questions follow NAIROBI, Kenya — Kenya has signed a five-year, $2.5 billion health agreement with the United States, the first such government-to-government pact since President Donald Trump overhauled U.S. foreign aid, U.S. and Kenyan officials said Saturday. Washington cast the deal as a model for a series of agreements with developing countries, signaling a deeper pivot to direct funding of public sectors over traditional aid…

Luanda AU–EU Summit: Somalia’s Perspective and a New Africa–Europe Deal

LUANDA, Angola — The AU–EU summit in Luanda on Nov. 24–25 marked 25 years of a formal partnership, and it delivered the familiar choreography: a joint declaration, carefully worded communiqués, promises to deepen cooperation on trade, climate, migration and security. For Somalia — confronting a stubborn insurgency, maritime insecurity and a pressing need for jobs — the measure of success is not rhetoric but whether Africa and Europe can strike a new, more equal bargain that translates summit language into action. The…

Trump: No set deadline for Ukraine deal as US envoy meets Putin

Trump backs off Ukraine peace deadline as US envoy heads to Moscow amid reports of coaching Russians WASHINGTON — President Donald Trump on Thursday withdrew a firm Thanksgiving deadline for Ukraine to accept a U.S.-backed peace framework and defended the administration’s negotiators after reports the lead envoy advised Russian officials how to press the proposal. Speaking aboard Air Force One en route to Florida, Trump said U.S. negotiators were making progress with both sides and that Moscow had agreed to “some…

IMF, Somalia strike $30 million financing deal to drive reforms

IMF, Somalia Reach Staff-Level Deal That Could Unlock $30 Million Somalia has secured a staff-level agreement with the International Monetary Fund that could release roughly $30 million in fresh financing, a timely boost as the government faces tighter aid flows, the bite of climate shocks, and the demanding work of rebuilding a post-debt-relief economy. The agreement, announced Sunday after two weeks of talks in Washington and Mogadishu, will go to the IMF Executive Board in the coming weeks. If endorsed, it would mark…

Somalia welcomes Hamas-Israel deal struck during talks in Egypt

Somalia hails Sharm el-Sheikh ceasefire framework, calls it a ‘genuine step’ toward peace Somalia has welcomed a ceasefire framework announced in Sharm el-Sheikh, Egypt, saying the effort to halt the war between Israel and Hamas could open a narrow but crucial window for humanitarian relief and political talks long seen as out of reach. In a statement late Thursday, Somalia’s Ministry of Foreign Affairs voiced support for the regional and international mediation that produced the agreement, which aims to secure a…