Browsing Tag

million

Topic

#million

112 Articles

Somali pirates reportedly demand $10 million to release small product tanker

Thursday May 14, 2026 MT Honour 25 is one of the two product tankers being held off the coast of Somalia by pirates (EUNAVFOR ATALANTA) Alarm is mounting among the families of seafarers trapped aboard two product tankers seized by Somali pirates, as reports emerge that the gunmen are pressing harder for ransom and tightening control over the ships. The vessels, both laden with fuel cargoes, remain under pirate watch off the Somali coast. Authorities say they are tracking the ships, but one family member said any attempt to…

Somali Pirates Raise Ransom Demand to $10 Million for Hijacked Cargo Ship

MOGADISHU, Somalia — The families of crew members aboard the hijacked commercial vessel “MT Eureka” say Somali pirates have raised their ransom demand to $10 million, deepening fears for the sailors being held off the Somali coast. Amiira Mohamed, the wife of Egyptian engineer Mohamed Radi, who is among eight Egyptian sailors on the ship, said her husband was briefly allowed to call her by phone. “He told me the situation is very difficult and pleaded for anyone who can help to intervene for their release,” she said.…

Somali region launches nearly $3 million water project in Qabridaharre

Monday May 11, 2026 Jigjiga (AX) — A long-awaited solution to Qabridaharre’s water problems took a major step forward on Sunday, when Ethiopia’s Somali Regional Government broke ground on a 407 million birr water purification plant aimed at easing chronic shortages and improving water quality in the town. Somali Regional State President Mustafa Muhumed Omar and Water Affairs Minister Ahmed Miraad Layli led the foundation-laying ceremony, joined by local and district officials. The plant is slated to supply clean, treated…

Somalia Launches $35 Million World Bank-Funded Bulsho Project

Somalia Unveils $35 Million World Bank-Funded “Bulsho” Project MOGADISHU, Somalia — Somalia’s Ministry of Interior, Federal Affairs, and Reconciliation has rolled out the “Bulsho” project, a wide-reaching program designed to improve public services in some of the country’s most isolated communities. The World Bank-backed initiative carries a budget of more than $35 million and is aimed at expanding infrastructure and delivering essential services to marginalized populations through a joint effort by the federal government…

Nigerian President Seeks $516 Million Loan for Major Highway Project

In a significant move aimed at boosting infrastructure, President Bola Tinubu has formally requested the Senate's approval to secure a $516.3 million loan from Deutsche Bank AG. This lending initiative is backed by insurance from the Islamic Corporation for the Insurance of Investment and Export Credit, part of the Islamic Development Bank. Tinubu emphasized that the funding would be directed towards the construction of the Sokoto-Badagry Superhighway, a centerpiece project within his Renewed Hope Agenda. The ambitious…

EU approves €75 million contribution to African Union mission in Somalia

BRUSSELS — The European Union and its member states have signed off on a €75 million contribution to the African Union Support and Stabilization Mission in Somalia, cementing the bloc’s position as the mission’s biggest financial supporter. The latest package lifts total EU assistance to a string of African Union-led operations in Somalia over the past 20 years to nearly €2.8 billion, highlighting the bloc’s enduring investment in security efforts across the Horn of Africa. Bankole Adeoye, the AU commissioner for political…

McEntee announces new 40 million euro donation for Ukraine

Ireland is stepping up its support for Ukraine with an additional €40 million in aid as Russia’s war grinds on, Minister for Foreign Affairs Helen McEntee has announced. The new package comes on top of the €25m already committed by Ireland in February. Minister McEntee unveiled the latest funding during a visit to Kyiv. Of the €40m announced today, more than €26m will go toward humanitarian assistance, while almost €14m is earmarked for long-term development and peacebuilding measures. Another €2m from the overall package…

New Mexico Jury Orders Meta to Pay $375 Million Over Child Exploitation, User-Safety Claims

A jury in New Mexico has ruled that Meta Platforms broke state law, concluding the tech giant misled users about safety on Facebook, Instagram and WhatsApp and enabled child sexual exploitation on its services, according to the state attorney general’s lawsuit. After less than a day of deliberations, jurors determined Meta violated New Mexico’s consumer protection statute and ordered the company to pay $375 million in civil penalties. The verdict is the first jury decision on these types of claims against Meta, which is…

President Guelleh Unveils $480 Million Salaam City Project

Djibouti Bets Big: President Guelleh Launches $480 Million "Salaam City" DJIBOUTI CITY — In a bold push to tackle soaring housing needs amid brisk economic expansion, H.E. Ismail Omar Guelleh, President of the Republic of Djibouti, on Monday unveiled a $480 million residential venture known as “Salaam City.” Driven by developer Salaam Real Estate, the project will convert a vast tract on the edge of Djibouti City into a contemporary urban center, which officials describe as among the nation’s most ambitious housing efforts…

UN says about 4.9 million children under five died in 2024

UN estimates 4.9 million under-5 deaths in 2024 An estimated 4.9 million children died before age five in 2024, United Nations agencies said, underscoring a global slowdown in mortality reduction even before recent aid cuts. The estimate was produced by UNICEF, the World Bank, the World Health Organization and the UN Population Division. The agencies said most of the deaths were preventable with better access to healthcare and low-cost interventions for complications from pre-term birth and diseases such as malaria.…