Somalia News
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National Bank of Kenya Ltd. will raise as much as 10 billion shillings ($119 million) in a rights offer to fund an expansion plan as it seeks to quadruple revenue by 2017, Managing Director Munir Sheikh Ahmed said.
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The United Nations Security Council has made a wise decision to create an ambitious African stabilization mission for Mali.
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The U.K. has pledged 180 million pounds ($280 million) to help Somalia tackle the threats of famine and al-Qaeda, something Prime Minister David Cameron said was essential to British security.
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Al-Shabaab, Somalia’s al-Qaeda linked militant group, have gone into hiding to carry out guerrilla attacks after losing territory they held as a more conventional force, Somali President Hassan Sheikh Mohamoud said.
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Three men charged with supporting the Somali terrorist group al-Shabaab had ties to two suicide bombers from Minnesota, the U.S. said.
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Somalia plans to sign 30 oil and gas production-sharing contracts this year, starting with companies that operated in the country before its government was toppled more than two decades ago, an official said.
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The decline in piracy attacks off the coast of Somalia that cost the global economy $18 billion a year may be reversed if there’s no “political solution” onshore in the Horn of Africa Nation, the World Bank said.
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Takaful Insurance of Africa Ltd., Kenya’s only Shariah-compliant insurer, plans to expand its operations into five East African nations, Chief Executive Officer Hassan Bashir said.
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China wants to work with the U.S. on cybersecurity because the effects of an Internet attack could be as serious as a nuclear bomb, a Chinese general said at a briefing with the chairman of the U.S. Joint Chiefs of Staff.
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To an outside observer, the behavior of the North Korean leadership often appears short- sighted and irrational. There seems to be a tested and easy way out of their predicament -- the path of Chinese-style economic reforms. While such gradual capitalist reforms might be good for the country, however, they would be far too dangerous for the current North Korean elite. As a consequence, they’re unlikely to be implemented anytime soon.
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