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Jan 13 , 2020

Rebar Price Reverses, Sales Shrink

A rare experience in the construction industry, the price of reinforcement steel bars has witnessed a considerable decline with an average slide of 20pc at the end of 2019. Beginning four months ag...

Jan 9 , 2020

Agreement Over GERD Remains Elusive

Negotiators from the three countries locked in dispute over GERD fail to reach an agreement despite four rounds of talk. The last one held in Addis Abeba for two days was no different, prompting Ethio...

Jan 5 , 2020

Ten Lessons Ethiopia Can Take from the 2010s

The 2010s, like the 1970s and the 1990s, has seen tectonic shifts in the political, social and economic life of the nation. It started without much clamour. The EPRDF and its allies won a comfortable...

Ministry Reconsiders Excise Tax Rate on Bottled Water

Following strong resistance from water bottlers, the Ministry of Finance is reviewing a new excise tax rate imposed on bottled water. Through their association, water bottlers strongly opposed the...

Jan 5 , 2020

Social Security Agency Auctions off Ayka's Property

For the first time in years, the Private Organizations Employees' Social Security Agency auctioned off the property of Ayka Addis Textile Investment Plc for failing to pay the pension fund what it col...

Jan 5 , 2020

Eth-Switch Posts First Ever Profit

Eth-Switch S.C. has posted a net profit of 12.6 million Br for the year 2019, the first positive record in the company's history. A consortium formed by all banks to integrate the national electronic...

Jan 5 , 2020

Lower Court Gets More Power

If the parliament legislates the bill, the Federal First Instance Court will be able to review cases concerning up to 10 million Br, 20 times higher than the current cutoff of half a million Birr. ...

Jan 5 , 2020

State Insurer Pays out Second Highest Claim

The giant state insurer has paid the second-highest claim ever to the Ethio-Djibouti Standard Gauge Railway (EDR), whose trains were damaged due to derailment. Ethiopian Insurance Corporation (EIC...

Jan 5 , 2020

Coop Bank Ventures into Utility Billing Service

Cooperative Bank of Oromia now offers a mobile-based utility bill payment service that up until now has been monopolised by the state giant, Commercial Bank of Ethiopia (CBE). The Bank has signed a...

Jan 5 , 2020

Bunna Bags Huge Profit, Dividend Remains Flat

Bunna International Bank, one of the mid-sized banks, had a positive year last year, increasing profits by over half. Yet the earnings per share (EPS) paid out in dividends has remained the same over...

Jan 5 , 2020

Chinese Plastic Maker Expands with 14m Br

Zhaoxin Wang, a Chinese-owned plastics factory, completed an expansion project to produce plastic pipes that are used for fluid and gas transfer and often used to replace ageing concrete or steel main...

Jan 5 , 2020

Addis Welcomes New Four-Star Hotel

Elgel Hotel & Spa, a local four-star hotel built for 250 million Br, joins the burgeoning hospitality industry in the capital. The new hotel, which opened its doors two weeks ago, is located aroun...

Dec 28 , 2019

STUBBORNLY YIELDING

Prime Minister Abiy Ahmed (PhD), President Isaias Afeworki (middle) and Shimelis Abdissa (right), deputy president of Oromia Regional State, visited the Adama Industrial Park on December 26, 2019. ...

Dec 28 , 2019

Central Bank Avails 5.5b Br Loan to Cash-Strapped Banks

Amidst the tight liquidity conditions in the banking industry, the National Bank of Ethiopia (NBE) offered 5.5 billion Br in loans to commercial banks at a competitive bidding interest rate. Follow...

Dec 28 , 2019

Int'l Union Prods PM to Intervene in ET Labour Dispute

The heated dispute between a newly formed labour union and the management of Ethiopian Airlines Group escalated this month with the intervention of continental and international trade unions. The I...

Dec 28 , 2019

Constitutional Inquiry Concludes Six-Year Battle

The Council of Constitutional Inquiry, the nation's constitutional interpretation advisory body, has resolved a six-year court battle over a piece of land in Oromia Regional State in favour of Getache...


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Right-sizing Tests Addis Abeba University’s Promise for Autonomy

Addis Abeba University set out to win its institutional autonomy. Two years in, that freed...

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