Djibouti-based Intergovernmental Authority on Development (IGAD), an eight-country trade bloc in Africa comprising of governments from the Horn of Africa, Nile Valley, and the African Great Lakes, is stepping up efforts to synchronize Africa's sustainable fishing activities to achieve a 3 million metric tons (MT) of production per year, up from the current 1 million MT.
Representatives from seven of the eight IGAD members met in Addis… Read More
Online seafood market company Seafood Souq, in partnership with the International Pole and Line Foundation (IPNLF), has launched a pilot project to promote Oman’s fisheries as a new source of sashimi-grade yellowfin tuna in the global market.
The project involves giving Omani fishers engaged in the country’s one-by-one handline operations the skills needed to produce higher-quality, grade-A sashimi tuna. Seafood Souq, which… Read More
Iran, which boasts one of the fastest-growing aquaculture sectors in the Middle East, has suffered huge losses after recent floods destroyed several fish farms and related infrastructure – wiping out an estimated 7,800 metric tons (MT) of unharvested fish.
Iran was hit by heavy rainfall in the second half of July, causing rivers to overflow and causing floods that led to casualties and significant infrastructural… Read More
Dammam, Saudi Arabia-based Saudi Fisheries Co. (SFC) has announced that despite a significant increase in sales revenue, the company posted net losses for H1 2022.
SFC’s interim financial results filing to the Saudi Stock Exchange on 22 August, 2022 indicates the company posted sales of SAR 29.3 million (USD 7.81 million, EUR 7.84 million) up 34 percent from the SAR 21.8 million (USD 5.81 million EUR 5.83 million) for a similar… Read More
Oman Aquaculture Company, a part of Muscat, Oman-based Muscat Overseas Group and South Africa-based abalone farming company Abagold Ltd., has commenced operations of an OMR 10 million (USD 25.9 million, EUR 25.5 million) abalone project in Oman …
Photo courtesy of Yousif… Read More
Riyadh, Saudi Arabia-based Saudi Fisheries Company (SFC) has signed an agreement to obtain financing from two institutions totaling SAR 76 million (USD 20.2 million, EUR 19.9 million) to finance its operations.
The company, which engages in fishing, fish-farming, and marketing activities, announced a deal with Al Rajhi Bank for a loan of SAR 40 million (USD 10.7 million, EUR 10.5 million) to finance the seafood company’s operations.… Read More
Kenya’s Department of Fisheries, Aquaculture and Blue Economy recently picked local seafood processor and exporter CEER Processing Limited as the preferred contractor to develop the delayed Liwatoni Fisheries Complex in the coastal city of Mombasa.
The project has been marred by graft allegations from Kenya’s Ethics and Anti-Corruption Commission (EACC), which launched investigations into claims of procurement law violations… Read More
After years of investigations by non-governmental organization Environmental Justice Foundation (EJF), the government of Oman has removed the ISRAR fleet from its registry of fishing vessels due to its alleged involvement in illegal, unreported, and unregulated (IUU) fishing.
The delisting was supported by EJF’s documentation of the fleet’s illegal fishing activities with Omani state officials, which found "the documentation… Read More
Credit Suisse Securities Europe, a subsidiary of Zürich, Switzerland-based global investment bank and financial services firm Credit Suisse Group AG, has agreed to pay USD 22.6 million (EUR 22.1 million) in restitution to 18 investors who were defrauded in what anti-corruption experts called “the most-egregious corruption offense of the decade” …
Photo courtesy of Sonia… Read More
Cape Town, South Africa-based Oceana Group has selected Mazars to serve as the company’s new external auditor, and also announced mixed results in terms of production volumes …
Photo courtesy of Oceana… Read More