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Jan 23 , 2019

Bereket Simon Arrested

Bereket Simon, a founding member of the EPRDF and a former senior government minister, has been arrested by the Federal government this morning, from his residence off Africa Avenue. Cause of arrest r...

Jan 23 , 2019

Former TIRET Chief Arrested

Tadesse Kassa, a.k.a Tinkishu, former CEO of TIRET, has been arrested this morning at his residence in Addis Abeba. His arrest was made about the same time of police arresting Bereket Simon, also chai...

Jan 19 , 2019

RUNNING OUT OF GAS

Fuel lines around gas stations, longer queues for public transport commuters and fewer vehicles on the roads characterised Addis Abeba last week. The culprit was another bout of fuel shortages that fa...

Jan 19 , 2019

Power Generator, Distributor at Odds

Beginning this month, companies with higher electric power consumption will be paying their electric bills to Ethiopian Electric Power (EEP) rather than Ethiopian Electric Utilities (EEU). Though E...

Jan 19 , 2019

Authority Shuts Tanneries With no Treatment Plants

Oromia Regional State suspended four tanneries in Modjo from operating until they build secondary wastewater treatment plants. The Oromia Environment Forest & Climate Change Authority ordered C...

Jan 19 , 2019

Dashen Undergoes Management Restructuring

Dashen Bank, one of the pioneers of private commercial banks, overhauled its organisational structure by broadening its top level management team, as of January 1, 2019. The new restructuring bring...

Jan 19 , 2019

City Digitizes Farmland Relocation Data

The city administration is investing 10 million Br to install an information system that will record, store, interpret and analyse information about displaced farmers for redevelopment purposes. Th...

Jan 19 , 2019

Kinfe, Others Face Additional Corruption Charges

Prosecutors brought two additional but separate corruption charges against Kinfe Dagnew (Maj. Gen), former head of the Metals & Engineering Corporation (MetEC), last week. The latest charges we...

Jan 19 , 2019

State Bank Pioneers Electronic Remittance

The Commercial Bank of Ethiopia launched international electronic remittances, allowing the electronic transfer of money from a foreign country into Ethiopia. The state commercial bank's money tran...

Jan 19 , 2019

Risk Taking Lifts Profits at NICE

Claims control helped the quarter century old National Insurance Company of Ethiopia (NICE) to recorded a sizable 41.3 million Br in net profit in the past fiscal year, a staggering 60pc increase from...

Jan 19 , 2019

Awash Sustains Performance with Strategy

Awash Bank maintains its leading position in the private financial industry posting a record high profit boosted by a newly implemented management strategic plan. The bank reported 1.4 billion Br i...

Jan 19 , 2019

Court Orders CCD to Deliver Homes in One Month

A judge at the Federal High Court has ordered Country Club Developers (CCD), a luxury real estate company, to finish and deliver six disputed housing units within a month. The ruling was passed in...

Jan 19 , 2019

Ministry Reigns in Industrial Chemicals

The government has drafted a bill that will centralise the registration and administration of both imported and locally manufactured industrial chemicals. Drafted jointly by the Ministry of Trade ...

Jan 12 , 2019

BALE UNDER PRESSURE

The juniper forests, endemic flowering plants, rare mammals and bird species found in the half century-old Bale Mountains National Parks are facing threats from growing human encroachment into protect...

Jan 12 , 2019

Agency Pop-up to Regulate Telecom Industry

The government is drafting a new proclamation to form a body to be tasked with regulating the telecom and postal services and  reports directly to the Office of the Prime Minister. The current Sta...

Jan 12 , 2019

Kinfe Faces First Corruption Charge

Kinfe Dagnew (Maj. Gen), former head of the Metals & Engineering Corporation (MetEC), faced the first charge late last week along with seven co-defendants. The prosecutors charged Kinfe and oth...


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