ROMAN SOLDIERS AT MESQEL

During the Demera celebration, a prominent feature of the Mesqel holiday, held on its namesake, Mesqel Square, last Monday, there were some attendants that showed up wearing costumes of Roman soldiers from nearly two millennia ago.


ROMAN SOLDIERS AT MESQEL

During the Demera celebration, a prominent feature of the Mesqel holiday, held on its namesake, Mesqel Square, last Monday, there were some attendants that showed up wearing costumes of Roman soldiers from nearly two millennia ago. The costumes are of amateur design and were supposed to be a call back to the history of the Mesqel celebration, which commemorates the discovery of the True Cross by Roman Empress Helena according to Christian religion lore.


Radar

Parliament Nods for Cabinet Appointments

Federal legislators have approved five cabinet-level positions last week with a member of Parliament (MP) voted against and two abstentions were counted. Gedion Timotheos (PhD) leads the charge as the new minister of Foreign Affairs, filling in Taye Asqeselassie's shoes, where he stayed briefly before becoming the country's president. With law degrees from Addis Abeba and Central European universities, Gedion was previously Attorney General and Minister of Justice. Joining him in the redev...


Radar

Abyssinia Group Eyes Expansion with IFC Funding

Abyssinia Group of Industries (AGI), a leading East African steel producer, is poised for significant expansion owing to a proposed investment from the International Finance Corporation (IFC) which is considering a financing package of up to 50 million dollars, including parallel loans in local currency. Headquartered in Kenya, AGI operates two steel plants in Ethiopia, six in Kenya, and has mining activities in Uganda. AGI currently produces 660,000 metric tons of steel annually and employs...


Radar

Fitch Acknowledges Easing Financial Pressures, Enhanced Macroeconomic Stability

Fitch Ratings has upgraded Ethiopia's Long-Term Local-Currency Issuer Default Rating (LTLC IDR) to 'CCC+' from 'CCC-', citing easing financing pressures, improved macroeconomic stability, and increased confidence that local-currency obligations will not be part of the ongoing debt restructuring. This positive development comes as the government implements key reforms and secures renewed concessional external financing. The ratings agency has taken note of the introduction of a market-based ex...


Back
WhatsApp
Telegram
Email