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Ethiopia's Naval Base Deal with Somaliland Sparks Tensions in the Horn of Africa
Tensions are escalating in the Horn of Africa as Ethiopia pursues a deal to secure twelve miles of sea access along the Somaliland coast for the next 50 years. The agreement includes plans for Ethiopia to construct a naval base at the port of Berbera in exchange for recognizing Somaliland as an independent country in the future. The potential deal has triggered opposition from Somalia, which views the growing ties and military cooperation between Ethiopia and Somaliland as an assault on its territorial integrity and has labeled it "an act of aggression." Somaliland seceded from Somalia in 1991 but lacks international recognition as an independent state.
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The Pakistani rupee continued its upward trajectory against the US dollar, gaining 0.01% or Rs0.02, to close at Rs281.11, according to data from the State Bank of Pakistan (SBP). Over the past four months, the currency has appreciated by 9.25%, or almost Rs26, compared to its ...
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The sugar sector in Pakistan achieved a milestone with record earnings of Rs22 billion in the fiscal year 2023, marking a substantial 78% increase year-on-year. The surge in earnings is attributed to a rise in sugar prices, resulting in improved gross margins for the sector. ...
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