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Improving relations between Baghdad and Ankara put KRG on edge

Recent promises to mend relations between the Kurdistan Regional Government and Baghdad have not led to any real progress on disputes over politics, land and oil. And as Baghdad makes overtures towards its former sparring partner – and close...

UK: Transparency legislation due in 2014

Ecobank chairman Kolapo Lawson was forced to stand down in late October after concerns were raised about corporate governance. Media reports said Lawson agreed to go after board members meeting in Ghana decided his departure was
necessary to...

Uganda: HRW highlights corruption inertia

Human Rights Watch (HRW) on 21 October released a 63-page report, ‘Letting the Big Fish Swim’, which details how the Ugandan government has failed to hold to account senior officials implicated in the theft and diversion of public funds. 

Somalia: Central bank governor resigns

Central bank governor Yussur Abrar, the first woman to occupy the post, has resigned after only seven weeks in the job, citing corruption concerns. In a letter to Somali President Hassan Sheikh Mohamud, widely reported in the media, she said...

Iraqi Kurdistan: Dana Gas takes KRG to court

The largest energy investor in Iraqi Kurdistan, Sharjah-based Dana Gas, has begun arbitration proceedings against the Kurdistan Regional Government (KRG) at the London Court of International Arbitration. Dana and its partners in Iraq say they...

US tax law imposes new pressure on banks

The US Foreign Account Tax Compliance Act (Fatca), which is intended to prevent tax evasion by Americans living abroad, will be applied to all financial institutions operating in the Gulf Co-operation Council (GCC) region from July 2014, obliging...

Africa Oil: $450m private placement

Africa Oil Corporation has announced a brokered private placement of up to 56.5m shares to raise $450m. The shares will be placed on a best efforts basis by a syndicate of Citigroup Global Markets, Dundee Securities Europe and Pareto Securities...

US probes Hyperdynamics over potential Guinea corruption

Hyperdynamics said on 30 September the US Department of Justice had issued a subpoena asking it to produce documents relating to its business in Guinea. “The company understands that the DoJ is investigating whether Hyperdynamics’ activities in...

Dust refuses to settle as IOCs assess the fallout from the Algerian gasfield massacre

Some departures were more significant than others in a wave of reshuffles of the Algerian political/security establishment during September. The moves seemed to represent an unexpected return to form for ailing head of state Abdelaziz Bouteflika...

Al-Shabaab attack exposes failure of US strategy against Al-Qaeda

The images and tales that emerged from Al-Shabaab’s attack on Kenya’s Westgate mall were searingly dreadful. Mothers shielding toddlers, blood pooling on tiles, the sheer terror of gunfire in what was supposed to be a benign location. Rarely has...


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