Somaliland backs Dubai’s DP World over Berbera Port

Berbera has become a test case of Somaliland independence. (REUTERS)
Updated 19 March 2018
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Somaliland backs Dubai’s DP World over Berbera Port

LONDON: The Somaliland government has rejected Somalia’s right to block a deal to allow Dubai’s DP World to make a $440 million investment to help develop Berbera Port, according to Somaliland Press.
The row came about when the Somaliland government allowed Ethiopia a stake in the Berbera investment consortium. Afterwards, the Somalian parliament voted to ban the UAE from investing in Somalia. The issue has become a test case for Somaliland independence.
A report in Somaliland Press said: “The DP World’s investment in Somaliland has, loudly and clearly, proven Somaliland’s independence. The agreement between DP World and Somaliland has shown that Somaliland is an independent country that can engage in international deals without regard to Mogadishu’s government.” It continued: “DP World’s agreement has ended Mogadishu’s claim for controlling Somaliland territory.”
The newspaper cited DP World CEO Ahmed Bin Sulayem as saying: “Somaliland is an independent country for the last 28 years. It is a very stable country. It has a vibrant democratic system. Our project won the endorsement of Somaliland’s parliament.”
Somaliland Press said: “Whether we like it or not, Ethiopia is a regional power to reckon with. Since Ethiopia has a share in the port, it will become its sea route which will help both Somaliland’s and Ethiopia’s economic growth. Second, since Ethiopia invested in Somaliland, Ethiopia will assist Somaliland strengthen its peace and stability.
“Ethiopia will not tolerate any regional authorities, Mogadishu’s government, or enemies to sabotage Somaliland’s stability. Lastly, Ethiopia and Dubai will work closely together to ensure Somaliland’s recognition provided that the port attains its intended objectives.”
Muse Behi Abdi Abdi, president of Somaliland, has recently been in Dubai meeting government ministers.


VW to stop doing business in Iran: Bloomberg

Updated 20 September 2018
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VW to stop doing business in Iran: Bloomberg

  • VW will still be able to do some business in Iran under a humanitarian exception
  • VW has scrapped plans it announced in July last year to sell cars in Iran for the first time in 17 years

WASHINGTON: Volkswagen has bowed to American pressure stemming from the US rejection of the multi-party nuclear deal and will end almost all business in Iran, Bloomberg News reported Wednesday.
The accord was reached Tuesday after weeks of talks between the German auto giant and the administration of President Donald Trump, said Richard Grenell, the US Ambassador to Germany, according to Bloomberg.
VW will still be able to do some business in Iran under a humanitarian exception, Bloomberg added.
In May, Trump pulled the US out of the deal it reached with Iran and five other countries in 2015. That accord lifted sanctions against Tehran in exchange for restrictions on its nuclear program.
Now, the US is reimposing those sanctions.
Bloomberg said VW has scrapped plans it announced in July last year to sell cars in Iran for the first time in 17 years.