High Court Acquittes Former Privatization Director, Co-defedants Finding No Evidence to Proceed to Defense Rebuttal

Birr Nears 160 to the Dollar Despite Central Bank Intervention

The Birr is now within touching distance of a line that foreign exchange dealers, importers and bank treasurers had long treated as psychological. In today's forex auction, the 160 Br to the dollar threshold was no longer theoretical. The National Bank of Ethiopia (NBE) allotted half a billion dollars to commercial banks and accepted bids as high as 160.9 Br. The weighted average rate was 159.9 Br, while the lowest successful bid was 157.3 Br, confirming that pressure on the currency remains heavy even when supply is expanded. The auction today, May 19, 2026, drew bids from 30 of the 32...

Celebrities Face Court Over Alleged 1.9bn Br Electric Vehicle Fraud

Federal prosecutor opened a sweeping criminal case today, May 6, 2026, against several public figures and company executives, pushing the Fintech Investment Plc electric-vehicle case beyond its alleged organisers and into the circle of artists, promoters and social media personalities prosecutors say helped make the scheme appear credible to the public. The charge was heard before the judges at the Lideta Division Criminal Bench, on Chad St., where prosecutors accused the defendants of using computer systems and working in coordination with Daniel Yohannes, co-founder of Fintech Investment...