Insurance conglomerate AIG has sued Bank of America for more than $10 billion, saying the bank cheated it by selling residential mortgage-backed securities that were overvalued. The formerly debt-ridden insurer filed suit in New York Monday, accusing the bank of “massive” fraud in its handling of the mortgage-backed securities that triggered the 2008 financial crisis. […]
UN: ‘Alarming’ Measles Outbreak Among Drought-Stricken Somali Refugees
Posted August 6th, 2011 at 12:50 pm (UTC-5)
The United Nations and Ethiopia’s government are beginning a massive vaccination campaign against measles for Somali refugee children as fears rise about an outbreak effecting those already weakened by famine. The U.N. refugee agency chief in Ethiopia said in a statement Saturday he was “shaken” by the situation he saw during a visit this week […]
7 Killed in Looting at Somalia Aid Camp
Posted August 5th, 2011 at 11:40 am (UTC-5)
Witnesses at a refugee camp in Somalia’s capital, Mogadishu, say seven people were killed during a looting spree that broke out as food was being distributed to famine and drought victims. People at the scene say the violence began Friday when men dressed as government troops began stealing food at the Badbaado camp, the largest […]
WFP: Ethiopia’s Emergency Food Reserve Near Zero
Posted August 5th, 2011 at 12:20 am (UTC-5)
The head of World Food Program in Ethiopia says the country’s emergency food stocks are almost gone, the latest trouble caused by the drought in the Horn of Africa. Abdou Dieng told reporters Thursday that despite incoming aid, Ethiopia faces a critical shortfall in emergency food supplies. He says a reserve set up by the […]
Urges ‘Unfettered’ Aid to Shabab-controlled Somalia
Posted August 4th, 2011 at 5:25 pm (UTC-5)
U.S. Secretary of State Hillary Clinton is calling on the al-Shabab militant group to allow aid groups “unfettered” access to bring food assistance to the more than a million people facing famine in the part of Somalia they control. At a press conference Thursday, Clinton said this would allow aid groups to save as many […]
WFP: Ethiopia’s Emergency Food Reserve Near Zero
Posted August 4th, 2011 at 12:35 pm (UTC-5)
The head of World Food Program in Ethiopia says the country’s emergency food stocks are almost gone, the latest trouble caused by the drought in the Horn of Africa. Abdou Dieng told reporters Thursday that despite incoming aid, Ethiopia faces a critical shortfall in emergency food supplies. He says a reserve set up by the […]
AU Postpones Drought Donor Conference
Posted August 4th, 2011 at 10:10 am (UTC-5)
The African Union has postponed a conference to raise money for the millions affected by drought and famine in the Horn of Africa. An AU statement Thursday said the conference in Ethiopia’s capital has been moved from August 9 to August 25. The statement did not give a reason for the delay. The Associated Press […]
Famine Declared in 3 New Parts of Somalia
Posted August 3rd, 2011 at 12:55 pm (UTC-5)
The United Nations says famine has spread to three new parts of southern Somalia, including areas in the capital, Mogadishu. A statement Wednesday said famine conditions are present in two districts of the Middle Shabelle region, the Afgoye corridor displaced persons settlement, and in the Mogadishu displaced persons community. The statement says rates of acute […]
Famine Declared in 3 New Parts of Somalia
Posted August 3rd, 2011 at 12:20 pm (UTC-5)
The United Nations has declared a famine in three new areas of Somalia. A statement Wednesday said famine conditions are present in two districts of the Middle Shabelle region , the Afgoye corridor displaced person settlement, and the Mogadishu displaced persons community. The statement was issued through the U.N. and U.S-funded Famine Early Warning Systems […]
UN: Somali Refugees Top 860,000
Posted August 3rd, 2011 at 8:35 am (UTC-5)
The United Nations says the number of Somali refugees in the Horn of Africa has topped 860,000, many of them forced out by the ongoing drought and famine. The U.N. refugee agency says another 1.5 million Somalis are internally displaced, mostly in Somalia’s south-central region. A report issued Wednesday says many Somalis fled their homes […]
