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Aug 28 , 2021

Wudassie to Undertake 943m Br Expansion

Wudassie & Family Business Plc is preparing to construct two buildings on its 2,000sqm property in Piassa, just off Churchill Avenue. Expected to cost 943 million Br, the expansion will house a...

Aug 28 , 2021

Gov't Looks to Import Wheat, Sugar

The government is in the process of importing 400,000tn of wheat, aiming to ease skyrocketing inflation, which hit 26pc last month. Around 18,000tn has already arrived and the remaining wheat is expec...

Aug 28 , 2021

Trade Rep Cautions Conflict could Harm AGOA Eligibility

Ethiopia's access to trade benefits under the African Growth & Opportunity Act (AGOA) is at stake as the United States threaten to review the eligibility of the country if the ongoing conflict in...

Aug 21 , 2021

Study Puts Youth Unemployment at 23pc

A study conducted by the Central Statistics Agency (CSA) revealed that the rate of youth unemployment in urban areas sat at 23.1pc in February 2021. The Agency considers people aged between 15 and 29...

Aug 21 , 2021

STREET COWS

Cattle in Mekanisa are standing in the middle of the pavement side, scavenging for food among the trash. The animals, which are most visible during holidays as festivities take place, are constant hea...

Aug 21 , 2021

WB MOVES IN

Ousmane Dione (left), country director for Eritrea, Ethiopia, South Sudan and Sudan for the World Bank Group, shares a light moment with Tadesse Tilahun, CEO of National Oil Ethiopia (NOC) on Augu...

Aug 21 , 2021

HQ ROADBLOCK

For months now, construction of Commercial Bank of Ethiopia's (CBE) headquarters has claimed part of the two-way Ras Desta Damtew Street that runs between Ghion Hotel and Ambassador Theater. In the...

Aug 21 , 2021

Liability Corporation Inks Deal to Soak up 400b Br Debt

The newly established Liability & Asset Management Corporation has inked a deal with six state-owned enterprises to soak up 398.7 billion Br in debts belonging to five state-owned enterprises. The...

Aug 21 , 2021

Ethiopia Receives 1.7m Doses of COVID-19 Vaccines in a Month

The United Kingdom has donated half a million doses of the AstraZeneca COVID-19 vaccine to Ethiopia, bringing the total donations the country has received this month to 1.7 million. The doses were...

Aug 21 , 2021

Policy Bank Nets 3.2 billion Br Profit

The Development Bank of Ethiopia (DBE), the policy financier, netted 3.2 billion Br in profits during the ended-fiscal year. The Bank's latest performance represents a huge increase from the previo...

Aug 21 , 2021

Telecom Giant Expects 24pc Jump in Revenues

In the face of impending competition, Ethio telecom targets to increase its revenues by 24pc to 70 billion Br this year. The state-owned telecom giant earned 56.5 billion Br in revenues during the...

Aug 21 , 2021

Office Closes Nine Salt Businesses for Price Gouging

Authorities at the Addis Abeba Trade Bureau have shut down nine salt trading stores on allegations of price gouging. The traders were accused of selling salt for as much 50 Br a kilogram, four time...

Aug 21 , 2021

Duty-Free Privileges Valued at 81b Br

Duty exemptions granted to importers last year had a total value of 81 billion Br, the Ministry of Revenues announced. As part of the country's initiative to draw investment, the government has bee...

Aug 21 , 2021

Awash Bank Partners with Discover Global

Awash Bank has signed an agreement with Discover Global Network, an international card payment issuer based in Chicago, to facilitate card payments. Following the agreement, those holding Discover, Di...

Aug 14 , 2021

Central Bank Declines Extension Request

Officials at the central bank have turned down a formal request for the extension of a deadline to meet new capital requirements for financial institutions gearing up to join the banking industry. ...

Aug 14 , 2021

AMATUER MOVING

While moving companies have gradually grown in number, many still use either friends and relatives or unemployed youth lazing about the neighbourhood to help them ferry their goods. This pickup truc...


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