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BYD overtakes Tesla for most EV sales
BYD overtakes Tesla for most EV sales
by  AFP

US car maker Tesla has lost its crown for most sales of all-electric vehicles to Chinese firm BYD, which has capitalized on Beijing's strong government support for the burgeoning sector.

Somalia vows to defend sovereignty after Ethiopia-Somaliland deal
Somalia vows to defend sovereignty after Ethiopia-Somaliland deal
by  AFP

Somalia vowed on Tuesday to defend its territory by "any legal means" and recalled its ambassador to Ethiopia after Addis Ababa struck a controversial deal with the breakaway region of Somaliland. "We will defend our land with any legal means possible...

New year gets off to a weak start as traders eye rate cuts
New year gets off to a weak start as traders eye rate cuts
by  AFP

Asian markets slipped Tuesday as most traders returned from the New Year break looking forward to a 2024 that is expected to see a series of Federal Reserve interest rate cuts, but to also be full of economic and political uncertainty. Despite the upbeat outlook on rates, Asian markets started the year with little fanfare, with Hong Kong and Shanghai extending their 2023 losses.

Ethiopia, Somaliland agree deal on port access
Ethiopia, Somaliland agree deal on port access
by  AFP

Ethiopia on Monday struck a "historic" agreement to secure a stake in the main port in Somalia's breakaway region of Somaliland as the landlocked country eyes more access to the sea, officials said. The agreement "shall pave the way to realise the aspiration of Ethiopia to secure access to the sea and diversify its access to seaport," the office said in a statement posted on X, formerly Twitter.