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Pirate booty is a sound investment

It seems the good old-fashioned treasure chest is being replaced by a more modern financial instrument: Somali pirates have reportedly set up a business co-operative in their main lair of Haradheere.

The gangs have established the exchange to manage growing investments from financiers in the Somali diaspora and other nations, Reuters reported. The move could affect how much the pirates can ask in ransoms.

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