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EU finance ministers have agreed to impose a €3 duty on every small parcel imported into the 27-nation bloc starting 1 July next year, a measure aimed at stemming a flood of ultra-cheap e-commerce shipments from platforms such as Shein and Temu. The flat levy follows the bloc’s move last month to scrap a duty exemption for direct-to-consumer packages valued at less than €150. An EU spokesperson said the €3 charge will be temporary and will remain in place until member states settle on a permanent approach to taxing the…

Somali Troops Reclaim Key Location Amid Slow Progress in Fight Against Al-Shabaab MOGADISHU, Somalia – The Somali National Army (SNA) has reclaimed Ali Yabal, a crucial town situated approximately 18 kilometers from Eeldheer in the Galgaduud region, from Al-Shabaab militants. This development marks a notable advancement for government forces after over a year of sluggish movement in their campaign against these insurgents. The specifics of this maneuver remain somewhat elusive. The SNA has indicated that this was part of a…

Salaam Somali Bank Provides Micro Credit to Small Businesses in Mogadishu MOGADISHU, Somalia - The Salaam Somali Bank, which is a leading private bank in Somalia, continues to contribute to the country's economic growth by providing free microfinance funds to develop small businesses. On Thursday August 19, 2021, the Bank's branch in the Bakaro market provided microfinance funds called “Qardu…

Salaam Somali Bank offers free microfinance to small businesses MOGADISHU, Somalia - The Salaam Somali Bank (SSB) provided free microfinance to small businesses in the country's capital as part of the annual Grand Pleasure program designed to boost culture and rival economy. On Monday July 5, the Bank's branch at Km-5 in Mogadishu offered free microfinance to resident traders, including women,…

Salaam Somali Bank offers free microfinance to small businesses in Mogadishu The Salaam Somali Bank on Saturday provided free microfinance to traders running small businesses in Mogadishu, an initiative to boost the economy. The show called "Qardul Hassan" brought smiles to small traders who have benefited from the non-profit investment that will help them grow and expand their business. A…

New research assesses effects of mobile money service on small and medium-sized businesses in Somalia To disseminate the newly discovered knowledge among researchers and the public, the Research and Development Center of SIMAD University organized a forum for disseminating research results at the Primo Palace. Ustad Abdinor Ali Mohamed, Principal Researcher and Lecturer at the Faculty of…

Financing small businesses is crucial for Somalia MOGADISHU, Somalia - In Somalia, it is usually difficult for people to finance business ideas. Most of the UCITS are not designed to support business start-ups, not even where they are meant to make money. The understanding and culture for creating business ideas does not work. This has forced many promising business ideas not to start due to…

Salaam Somali Financial institution affords free microfinance for small companies Salaam Somali Financial institution on Saturday supplied free microfinance to merchants working small companies in Mogadishu, a transfer geared toward boosting the financial system. This system known as Qardul Hassan put a smile on the face of almost 100 retailers who've benefited from the non-profit…

This month of Ramadan also marks the period of Umrah, the "little pilgrimage" to Mecca. He was interrupted last year at the same time due to the health crisis. For this recovery, Saudi Arabia has taken drastic restrictive measures. Among other things, the obligation to be vaccinated. In Dakar, pilgrims and tour operators organize.…

Salaam Somali Bank's branch in Beledweyne, Hiran region on Tuesday provided free microfinance to small business owners as part of the second phase of the 2021 offer. Qardu Hassan aims to develop and encourage small businesses throughout Somalia, according to the bank's management, which is credited with being the first in the country to found in 2009. The new traders who were given the opportunity said they are grateful to Salaam Somali Bank for its timely support which has helped them expand their business in the face…