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Fortune News

Jun 18 , 2022

Central Bank Limits Forex Application Registration

Importers cannot submit more than two pro forma invoices to a bank requesting foreign currency, according to the new directive issued by the National Bank of Ethiopia (NBE). Issued on July 10, 201...

Jul 20 , 2019

Chinese Firm Secures Disputed, Delayed Contract

After bitter battle and long delay, a Chinese company has finally signed an agreement to supply 338 traction elevators worth 347 million Br to the city housing agency. XiZi Elevator Co. Ltd receive...

Jul 20 , 2019

Wheat Transportation in Logistic Quandary

The National Disaster Risk Management Commission is searching for transporters to ferry six million quintals of wheat from the Port of Djibouti to various drought-affected distribution centres around...

Jul 20 , 2019

Garage Relocation Leaves Lenin Statue in Limbo

The maintenance centre of the city's Roads Authority is moving to a new location in order to make room for the La Gare Eagle Hills Project, a sprawling residential and commercial development that even...

Jul 20 , 2019

Central Bank Tightens Grip on Bank Appointees

The central bank has tightened its grip on requirements and qualifications of nominees to the board of directors and chief executive officers of commercial banks. With its newly issued directive, t...

Jul 20 , 2019

Bunna Joins Interest-Free Banking Service

At a time when the central bank has authorised full-fledged interest-free banking (IFB) services, an 11th commercial bank has secured a license to operate IFB window service. Bunna International Ba...

Jul 20 , 2019

Water Bottlers Forego Neck Seals

Bottled water will no longer have neck seals beginning this week, according to the new decision passed by the bottlers' association. To be effective on July 23, 2019, the decision was made by Ethio...

Jul 20 , 2019

Noah Erects Second Office Plaza in Bole

Noah Real Estate, one of the prominent local real estate firms, is investing 156 million Br in building a 14-storey office building that is expected to be completed in three months. Planned to be f...

Jul 20 , 2019

Violence Shakes Up Southern Region

Businesses and government institutions in Hawassa closed their doors following a dispute that arose after an announcement recognised Sidama as the 10th regional state. Some shops began closing thei...

Jul 13 , 2019

UNANIMOUS BUDGET

Parliament unanimously passed the federal government's current fiscal budget last Monday, July 8, 2019. Totalling 386.9 billion Birr, it is 11.5pc higher than last year's budget. The government plans...

Jul 13 , 2019

Two Overseas Firms Seal Deal to Print Banknotes

Two European firms won a contract to print and deliver 206 million Br in banknotes to the central bank in 50 Br and 100 Br denominations. François-Charles Oberthur Fiduciaire (FCOF), a French comp...

Jul 13 , 2019

Gov't Embraces Restraint to Cure Economy

Despite the government's aspiration of implementing a restrictive economic policy model, parliament approved this fiscal year's budget that shows an 11.5pc expansion from the previous fiscal year. ...

Jul 13 , 2019

Six Firms Vie to Conduct Expressway Study

Six companies are vying to conduct a feasibility study for the planned expressway between Adama and Dire Dawa to be constructed under a public-private partnership arrangement. The 357Km project is...

Jul 13 , 2019

Central Bank Relaxes Interest-free Banking Rules

The National Bank of Ethiopia (NBE) has issued the long-awaited directive on the formation of full-fledged interest-free banking (IFB). Issued on June 18, 2019, the directive was signed by Yinager...

Jul 13 , 2019

Ban on Heavy Trucks Frustrates Businesses

The latest ban that limits the daytime movement of heavy trucks in the capital has frustrated businesses that depend on the trucks. The ban that became effective this week was announced by Addis Ab...

Jul 13 , 2019

Habesha Delivers Delayed Housing Project

After four years of delay, Habesha Construction & Materials Development SC has delivered 50 housing and two commercial units. Habesha, a local real estate firm and construction material supplie...

Columns

Commentaries | Jul 31,2026

The Rains May Fail, Policy Dare Not

Weldu Yiheysh has not read the Pacific temperature charts. He does not need to. In Shibta...

Editorial | Jul 31 , 2026

SMALL-NOTES SQUEEZE WORN, TORN, NEVER RETURNED

For Hirut Ayalew, a small shop owner around Ferensay Legasiyon, the shortage of usable sma...

Featured | Aug 1 , 2026 . By BIZUAYEHU ABIY

Tax Bills Outrun the Metre, Stalling Ride-hailing Drivers

Elbeletel Tilahun was among the ride-hailing drivers startled by this year's tax assessmen...

Agenda | Aug 1 , 2026 . By BEZAWIT HULUAGER

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...

Fortune News | Aug 1 , 2026 . By NAHOM AYELE