updated 9:59 PM MDT, Apr 25, 2017
A+ A A-

Sterling Energy Fails To Escape Losses Despite Revenue And Output Lift

LONDON - Sterling Energy PLC on Tuesday said it remained in the red during the first quarter of 2017, despite seeing revenue and production both more than double from the previous year, and it said its plan to drive growth through mergers and acquisitions is continuing.
Sterling said net production from the Chinguetti field off the coast of Mauritania was raised to 342 barrels per day on average in the three months to the end of March, improving from 106 barrels daily a year earlier.
That helped to bump up revenue in the first quarter to USD2.1 million from just USD725,000 a year earlier. Notably, total revenue over all 12 months of 2016 was USD4.8 million, implying Sterling is on track to comfortably multiply revenue over the full year.
The adjusted loss before interest, tax, depreciation, amortisation and exploration expense was USD784,000 in the first quarter versus the USD2.0 million loss a year before, while the loss after tax narrowed to USD1.2 million from USD5.0 million.

  • Written by Abdullahi
  • Category: EUROPE

What Does the London Conference on Somalia Aims to Achieve, UK Govt Tells

ANALYSIS:
.
LONDON  — The Government of the United Kingdom is preparing to host a conference on Somalia, making the second such conference since 2012.
This year, the London Conference on Somalia will take place in London on May 11th, 2017. The conference which will be co-chaired by Somalia’s President Mohamed Abdullahi Farmajo, elected in February 8th, and the UK Prime Minister Theresa May. It will convene Heads of State and Government from across East Africa and other key partners, along with senior figures from international organisations.
When the UK Foreign Secretary Boris Johnson visited Mogadishu and met Somali President Mohamed Abdullahi Farmajo in mid-March he was not only delivering the message of the conference but also emphasizing the core agenda of the conference.  
UK's theme of the conference
The UK Government believes that Somalia deserves a surge in support to secure the progress the country made during the past five years.
The upcoming Somalia Conference will address key issues among them security, political reform and governance, economic development and new partnership agreement between Somalia’s government institutions and the international community.

  • Written by Abdullahi
  • Category: EUROPE

Somali fraudster, 34, who travelled around the country sitting examinations for refugees to help get them visas or British citizenship is jailed for 32 months


  Father-of-five Ahmed Ali went to four examinations at Life in the UK test centres
    He used bogus UK travel documents and a dodgy Somali passport to sit the tests
    Ali failed the first three tests and was arrested when authorities grew suspicious
    Court heard Ali was pressured into the scam to clear his £7,500 gambling debt

By Steph Cockroft for MailOnline
Somalian Ahmed Ali (pictured), 34, went along to four examinations at Life in the UK test centres in just one year


Somalian Ahmed Ali (pictured), 34, went along to four examinations at Life in the UK test centres in just one year
Ahmed Ali, 34, went along to four examinations at Life in the UK test centres in Liverpool, Slough, Croydon, Ilford in just one year.

He used bogus UK travel documents and a dodgy Somali passport to sit the tests for refugees seeking visas or British citizenship.

  • Written by Abdullahi
  • Category: EUROPE

At least 4 dead 15 injured in Stockholm truck attack




Emergency services work at the scene where a truck crashed into the Ahlens department store at Drottninggatan in central Stockholm, April 7, 2017.
A truck slammed into a crowd of people outside a busy department store in central Stockholm on Friday, causing “deaths” in what the prime minister described as a “terror attack.” – AFP
STOCKHOLM: A truck slammed into a crowd of people outside a busy department store in central Stockholm yesterday, causing “deaths” in what the prime minister described as an “terror attack.” “There are deaths, and many injured,” Nina Odermalm Schei, a spokeswoman for Swedish intelligence agency Sapo, told AFP, without giving a precise figure. “Sweden has been attacked. Everything points to a terror attack,” said Prime Minister Stefan Lofven. Pictures showed a large blue truck with a mangled undercarriage smashed into the Ahlens department store.

  • Written by Abdullahi
  • Category: EUROPE
 
 

 

Google+