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UAE Announces $85m Aid to Bolster Humanitarian Operations

Mar 12 , 2022

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The United Arab Emirates (UAE) announced last week it would be disbursing 85 million dollars in aid to support humanitarian operations in Ethiopia. The contribution will be disbursed to several agencies, including the World Food Programme (WFP), the International Committee of the Red Cross (ICRC), the United Nations Children’s Fund (UNICEF), and the United Nations High Commissioner for Refugees (UNHCR). Last week, the UAE delivered 50tn of humanitarian supplies to support internally displaced persons (IDPs) in Ethiopia. The donation, carried out through the Emirates Red Crescent, includes food, health supplies and children's food supplements. Millions have been displaced as a result of the armed conflict in the north and a severe drought in the south and east.

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Nib international Bank Faces Heavy Hit from Forex Revaluation, Pays 348 Million Br in Penalties

Nib International Bank S.C. (NIB) has reported a significant loss of 2.9 billion Br, primarily due to extraordinary foreign exchange revaluation losses, this past Saturday, during its annual shareholders meeting at the Millennium Hall on Africa avenue, Airport Road. The bank faced substantial penalties amounting to 348.4 million Br. These penalties included a 251 million Br fine for liquidity shortages and a 97.4 million Br charge for violations related to Real-Time Gross Settlement (RTGS) payme...

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Railway Network Upgrade Positioned as Engine of Economic Transformation

The National Railway Business Summit took place at Skylight Hotel on October 21, 2025, signalling a historic step in modernising its railway network as a foundation for national development and regional connectivity. Government officials, industry leaders, investors, and experts from around the world convened to discuss infrastructure expansion, financing models, and technology adoption. Asma Redi, chief portfolio director at Ethiopian Investment Holdings, noted that the Ethiopian Railways Co...

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Radar

Gold Prices Ease After Recent Surge

The price of gold, which surged sharply in recent weeks, has started to decline in the current selling market. Over the past 15 days, 21-carat gold has traded between 24,000 and 25,000 Br per gram for imported products and around 21,000 Br for local gold. Imported 18-carat gold sold for 21,000 Br, while local 18-carat pieces were priced at 19,000 Br. Traders note that the recent increase was twice as high as typical fluctuations, attributing the spike to export patterns from Arab countries. ...

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