Somalia Financial News
20.03 / 16:41
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International
Indian Navy's capture of pirate ship showcases India's world-class special forces: Western analysts
pirates off Somalia's coast shows how India's military has developed special forces capabilities on par with some of the world's best, according to Western analysts. The Indian Navy seized MV Ruen, a former Maltese-flagged bulk carrier, rescued 17 hostages and captured 35 armed pirates in the nearly 40-hour operation around 2,600 km from the Indian coast last week. «The success of the operation marks the Indian Navy as a top-class force in terms of training, command and control and other capabilities,» CNN quoted John Bradford, Council on Foreign Relations International Affairs fellow, as saying. «What marks this operation as impressive is how risk was minimised by using a coordinated force that includes the use of a warship, drones, fixed- and rotary-wing aircraft, and marine commandos,» Bradford said.
17.03 / 17:37
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"That's what friends are for": Jaishankar to Bulgarian counterpart as she commends Indian Navy for successful operation in Arabian Sea
Bulgarian Foreign Minister, Mariya Gabriel for thanking the Indian Navy for rescuing seven Bulgarian nationals in a successful anti-piracy operation in the Arabian Sea, External Affairs Minister S Jaishankar has said that it is exactly what friends are for. In a post on X, Jaishankar wrote, «That's what friends are for,» alongside Gabriel's post. Notably, Bulgarian Foreign Minister, Mariya Gabriel on Sunday expressed gratitude to the Indian Navy for successfully carrying out a rescue operation to take back control of a hijacked merchant vessel and its 17 crew members including seven Bulgarian nationals in the Arabian Sea.
17.03 / 17:07
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Navy to bring apprehended pirates to India after daring Arabian sea operation
Indian Navy warship INS Kolkata is set to bring 35 apprehended pirates to India. «The Indian Navy warship INS Kolkata has taken 35 sea pirates into custody and is being brought to India along with the 17 crew members rescued after the major operation,» officials said on Sunday. During the operation, the Indian Navy forced the pirates to surrender and rescued 17 crew members from the distressed merchant vessel MV Ruen on Saturday. The merchant vessel is also being brought to India.
17.03 / 02:13
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parachuting
Indian Navy's 40-hour standoff: 35 pirates walk the plank, 17 crew members rescued| 5 things to know
Indian Navy said that INS Kolkata cornered and coerced all 35 pirates to surrender on Saturday, securing the safe extraction of 17 crew members from the pirate vessel without harm. Here are top five things you should know about the rescue mission: 1. During the 40-hour rescue mission, INS Kolkata intercepted the targeted pirate ship Ruen, which was approximately 2600 km away from the Indian Coast, and brought it to a halt using strategic measures.
16.03 / 20:36
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Myanmar
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International
Indian Navy establishes link with cargo ship Ruen's crew after thwarting Somali pirates' hijacking attempt
ANI, that they have established communication with the crew of the merchant vessel, where the 15-plus crew is from Bulgaria, Angola, and Myanmar. As per inputs from the crew, there are around 25 pirates on board the merchant vessel who could have been using it as the mother ship for carrying out piracy in nearby areas.
15.03 / 17:23
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Former Navy chief Admiral L Ramdas passes away at 90
ALSO READ: Indian Navy commissions 'INS Jatayu' Admiral Ramdas, or Laxminarayan Ramdas, was born on September 5, 1933 in Matunga, Mumbai. After retirement, he settled in Bhaimala village in Alibag, Maharashtra, on a piece of land awarded to him by the Maharashtra government in recognition of his acts of gallantry in the 1971 war, PTI reported. He completed his early education in Delhi at Presentation Convent and Ramjas College.
07.03 / 16:47
21.02 / 23:27
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International
Somalia announces deal with Turkey to deter Ethiopia's access to sea through a breakaway region
Somalia has announced a defense deal with Turkey that includes support for the Horn of Africa nation’s sea assets and appears aimed at deterring Ethiopia’s efforts to secure access to the sea by way of the breakaway region of Somaliland
12.01 / 12:09
UPS
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International
EU to debate sending naval mission to Red Sea
EU countries will next week discuss a plan to set up a naval mission to help protect Red Sea shipping following attacks from Yemen's Huthi rebels, diplomats said Friday. The proposal — in the pipeline in Brussels for several weeks — was mooted before US and British forces struck rebel-held Yemen. Any EU effort would seek to complement a US-led coalition, which includes numerous countries from the bloc, already operating in the vital shipping route. The exact details of the size and scope of any EU mission remain to be hammered out and European diplomats said a first discussion would take place in Brussels on Tuesday.
12.01 / 03:49
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International
India flexes maritime muscles by boosting Arabian Sea force
Indian commandos hunting pirates after an attack in the Arabian Sea illustrates New Delhi's «significant» expansion of a muscular maritime force reflecting global ambitions, analysts say. The commandos, deployed this month from an Indian-built warship after an attempted hijacking of a merchant bulk carrier, are part of a major increase of naval forces in seas where rival neighbour China has already long expanded its reach. «It's significant given the geopolitical context» and the aggressive «use of naval assets», said Uday Bhaskar, head of the New Delhi-based Society for Policy Studies think tank. In recent years Beijing has negotiated infrastructure deals with countries around the Indian Ocean as part of its Belt and Road Initiative, including Sri Lanka, the Maldives, Bangladesh and Djibouti, where it opened its first overseas military base in 2017, raising concerns among Indian officials. Now Prime Minister Narendra Modi, expected to be re-elected later this year, is looking to raise the global heft of India, the world's fifth-largest economy, which last year displaced China as the most populous country.
05.01 / 17:12
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Updates
Indian navy evacuated 21 crew members from a bulk carrier targeted by hijackers in the Arabian Sea
Indian navy commandos have safely evacuated 21 crew members from a Liberian-flagged bulk carrier involved in a hijacking attempt in the Arabian Sea
22.12 / 13:10
Reuters
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Rise of pirates in Red Sea to take toll on India’s exim business. Here are items that will turn costlier
Rise of Somali Pirates: Soon after MV Ruen, a Malta-flagged merchant ship, was hijacked by pirates earlier this month in the Arabian Sea, there were concerns about the return of Somali pirates to international sea routes. Amid rising fears, Indian shipping regulator Director General of Shipping has advised seafarers to be cautious, according to a report by Business Standard. But the precautionary measures may not be easy on the pocket, say experts The alternative route adds 12-14 days of sailing time and a 30-40 per cent increase in freight costs, impacting prices.
21.12 / 17:13
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Indian Navy deploys second guided-missile destroyer in Gulf of Aden
Indian Navy has deployed a second frontline ship in the Gulf of Aden to augment its anti-piracy mission, following the hijacking of a Malta-flagged cargo vessel by pirates. The Navy now has stealth guided-missile destroyer INS Kochi and INS Kolkata in the region, officials said. The Navy swiftly responded after receiving a call for help from MV Ruen, the Malta-flagged hijacked vessel, on December 14.
20.12 / 20:00
Waters
blues
stars
Why is Minnesota changing its state flag?
Native Americans. The proposed flag, featuring a white eight-pointed star against a dark blue background shaped like the state, was revealed on Tuesday by the State Emblems Redesign Commission. The design, created by 24-year-old Minnesotan artist Andrew Prekker, serves as an ode to the state's motto, «Star of the North,» with the light blue symbolizing Minnesota's abundant waters.
19.12 / 16:53
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Indian Navy rescues injured crew from hijacked ship MV Ruen, shifts him to INS Kochi for treatment
MV Ruen, which was hijacked by around six pirates, 680 nautical miles east of Bosaso, the commercial capital of Somalia’s breakaway Puntland region, was moved on Monday to Indian stealth destroyer INS Kochi for medical assistance following a bullet injury in firing by pirates, news agency ANI reported Tuesday. The crew member had a bullet injury near his shoulder during the piracy incident but was reported to be stable.
17.12 / 17:55
17.12 / 04:07
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reports
Indian Navy tracks hijacked Malta ship bound for Somalia amidst pirate threat
MV Ruen, was boarded by armed pirates, prompting an immediate reaction from Indian naval forces. According to a naval spokesperson, the Indian warship, engaged in anti-piracy patrol in the Gulf of Aden, swiftly changed course to pursue MV Ruen after it issued a Mayday call via the UKMTO portal, reporting the presence of around six unknown individuals on board. The safety of the 18 crew members aboard MV Ruen remains a top priority, with the Indian Navy coordinating efforts with other agencies and a multi-national force in the area. An official stated, «The overall situation is being closely monitored, and the safety of the crew on board the merchant vessel is paramount.» Both a maritime patrol aircraft and the warship have been deployed to monitor the hijacked vessel's movements.
16.12 / 16:23
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2 attacks launched by Yemen's Houthi rebels strike container ships in vital Red Sea corridor
A ballistic missile fired by Yemen’s Houthi rebels has slammed into a cargo ship in the Red Sea near the strategic Bab el-Mandeb Strait
14.12 / 14:25
President
country
shock
prevention
International
Somalia secures $4.5 billion debt relief deal with international creditors
Somalia has secured a $4.5 billion debt relief deal from its international creditors,
29.11 / 22:43
28.11 / 02:41
Citi
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Kenya raises alarm as flooding death toll rises to 76, with thousands marooned by worsening rains
At least 76 people have died and 40,000 displaced from their homes since the rains began pounding the country in October. President William Ruto convened an emergency cabinet meeting on Monday and said 38 of Kenya's 47 counties had been affected by floods and mudslides made worse by the El Nino phenomenon. State House spokesperson Hussein Mohammed also noted «disease outbreaks, destruction of infrastructure and property as well as prolonged power outages» across Kenya and the region. The worst affected areas are the coastal cities of Mombasa and Malindi and the northern Kenya region which borders Somalia, also hit hard by flooding. In Kenya's Garissa town, thousands of people have been displaced after their homes were swept away. «All roads are destroyed.
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