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.
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.
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.
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.
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.
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.