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Russia gets on the crypto train to skirt sanctions: Russian companies are now using bitcoin and other digital currencies for foreign transactions in the wake of experimental legislative changes created to combat Western sanctions, Reuters reports, citing comments made by Russian Finance Minister Anton Siluanov to Russia 24. Russia already uses bitcoin mined within the country in international transactions, but it plans to expand and develop those transactions within the next year.
Somalia has launched the New Mogadishu Development Corporation (NMDC) in its capital to construct a modern airport, seaport, and a special economic zone, President Hassan Sheikh Mohamud said in a statement last week picked up by The East African.
The details: Phase One of the New Mogadishu International Airport is expected to cost USD 643 mn and handle c.130k flights per year, the news outlet writes. The seaport will be strategically located along the Indian Ocean, connecting Africa to the Middle East, Europe and Asia.
We knew this was coming: Somalia’s coastal town of Hobyo will start construction on a new USD 70 mn port in December, which is slated for operations in three years. Turkish firm Metag Holding will oversee the construction of the port, which will be situated 435 miles northeast of the capital Mogadishu.
