Africa Asia Emerging Markets Headlines International

Ethiopia, India edge closer to defense pact

India and Ethiopia are in the final stages of finalizing a defense cooperation pact, Ethiopia’s ambassador to New Delhi said. Under the agreement, to be likely signed after India’s general elections, India will offer equipment and training to Ethiopia’s army, ambassador Demeke Atnafu told Indian news outlet The Print. The deal was evoked by Indian […]

Africa Business Emerging Markets Headlines International

Nigeria’s intention to join BRICS will not be influenced by West — FM

Nigeria will apply for membership of the BRICS in the next two years and it intends to join the group with or without pressure from the West, the country’s foreign minister Yusuf Tuggar has said. During a recent three-day working visit to Russia, where he held talks with his Russian counterpart Sergey Lavrov, Tuggar re-iterated […]

Africa Headlines International

Somalia-Turkey security deal to deter terrorism, piracy and Ethiopia’s territorial designs — experts

The defense cooperation agreement between Somalia and Turkey signed earlier this month (8 February) aims to achieve several objectives, experts say, including Ankara’s helping Mogadishu secure its maritime interests and serving as a counterbalance against the recent Ethiopian controversial deal with the breakaway region of Somaliland. The defense cooperation agreement Somalia inked with Turkey last […]

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US tech giant Meta faces legal challenges in Ethiopia and Kenya

US tech giant Meta has faced mounting legal troubles in East Africa, including in Ethiopia where its subsidiary Facebook has been accused of contributing to violence during the brutal two-year conflict in the country’s northern Tigray region, and in Kenya where Meta has reportedly faced several lawsuits by local Facebook content moderators. In Ethiopia, Many […]

Africa Headlines International

Egypt’s president warns Cairo won’t allow any threat to Somalia amid dispute with Ethiopia

Cairo will stand shoulder to shoulder with Somalia and will not allow any threat to the Horn of Africa country, Egypt’s president has said, referring specifically to Ethiopia’s recent agreement with the breakaway Somaliland that would give it access to the sea and allow it to establish a marine force base. “Egypt will not allow […]

Africa Headlines International

Somalia: no mediation with Ethiopia until Somaliland port deal cancelled

The Ethiopia-Somalia feud continues as Mogadishu has called on Addis Ababa to retract its deal with Somaliland, ruling out on Thursday (18 January) any possible mediation until a controversial agreement with the breakaway region is cancelled. Claiming its territorial integrity has been violated by the agreement, Somali Ministry of Foreign Affairs has stated there was […]

Asia Headlines International

UN warns against Red Sea crisis escalation, as disrupted shipping prompts Africa price concerns

The United Nations has warned against escalation in the Red Sea following multiple airstrikes by US and UK forces targeting Houthi rebels in Yemen who have vowed fierce retaliation. “These developments in the Red Sea and the risk of exacerbating regional tensions are alarming,” the UN Assistant Secretary-General, Khaled Khiari, has said, calling for the […]

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Somalia’s new law ‘nullifies’ ‘illegal’ Ethiopia-Somaliland port-access deal

Somalia’s President Hassan Sheikh Mohamud has signed a law that “nullifies” the contentious memorandum of understanding between Ethiopia and a breakaway Somaliland region in a largely symbolic move expressing his government’s displeasure over the deal to grant port access. As part of the deal that was announced on 1 January, the landlocked Ethiopia will gain […]

Africa Headlines International

Somalia lashes out at ‘null and void’ Ethiopia-Somaliland port deal

Somalia has vowed to defend its territorial integrity by “all legal means possible” after a destabilizing deal inked on Monday (1 January) that has seen its breakaway region of Somaliland gain Ethiopia’s recognition in exchange for the latter’s access to the Red Sea. Following an emergency meeting on Tuesday (2 January), the Somali cabinet said […]

Business Finance

Africa fueled with optimism with prospect of US interest rate cut in 2024

Emerging and frontier markets in Africa now have a reason for cautious optimism in 2024 following a recent announcement by The Federal Reserve (Fed) signaling possible cuts of up to 75 basis points in the coming year. New forecasts from central bank officials showed a turn from the hawkish rate environment Fed Chairman Jerome Powell […]