Dear Readers,

It has been another hectic week for our network of Somali journalists as they dig tirelessly to come up with fast and exclusive stories to keep you updated on significant developments in Somalia.

Today, we were the first to report on a pirate ransom drop gone wrong, including exclusive pictures, as a foreign security team ended up being arrested in Mogadishu with $3.6 million in cash bound for at least one ship being held off the Somali coast. Somalia Report had already been tipped off to the fact that ransoms were due for at least two ships, but even we couldn't predict the money would end up in Somalia's central bank.

As we continue to push our extensive pirate contacts to get the latest updates on ransom payments and the fate of hostages, we discovered the Danish Hostages on board the MV Dover are now likely to find themselves steaming to another location as the local community in Hurdiyo rebels against the pirate group.

Continuing with our in-depth coverage of the conflict and its latest trends, we were the first to report that Transitional Federal Government forces backed by African Union peacekeepers were makinginroads into the al-Shabaab stronghold of Bakara Market of Mogadishu, a potentially serious blow to the insurgent group.

And while everyone is trumpeting the government gains and predicting the end of al-Shabaab, Somalia Report has been keeping a close eye on the spread of violence northward, including battles between a militia leader linked with al-Shabaab in Puntland's Galgala region.

In addition, Somalia Report publisher, Robert Young Pelton, wrote an in-depth article for Bloomberg Businessweek laying out the stark realities of the pirate business based on his three years of going inside the business of piracy. The piece was one of their most-emailed and talked-about stories.

And finally, Pelton explored the validity of a US State Department warning about planned al-Qaeda attacks against ships, sent out after intelligence garnered from the compound of Osama Bin Laden.