Sky’s Shareholders’ Gloom Despite Recovery from Loss



Sky Bus bounced back from its worst fiscal year ever, as it recovered from a half a million Br loss in 2014/15. Nevertheless, the picture that emerged from its 8th general assembly held at Federal Transport Authority...


Global Posts Modest Profits Despite Stiff Competition


Global Insurance Company, the sixth oldest private insurer in the country, managed to raise its performance slightly in the last fiscal year. Its net profit increased by six percent to a little over 21 million Br. Thi...


Gov’t Instructs Chambers to Re-Elect Presidents


The government has instructed the Ethiopian Chamber of Sectoral Associations, and Amhara Chamber of Commerce & Sectoral Associations to re-elect presidents, as the first move to solve controversies at both chambers.


Over 3,000 Houses Slated For Demolition in Yeka District


Yeka District is awaiting the approval of the 10th Master Plan for Addis Abeba to knock down 3,221 residential houses that were built before April 2005. The residential houses, which will be demolished for redevelopment,...


Only 14pc of Roads Safe for Pedestrians: Report


Out of 114 km of road networks in Addis Abeba, only 14pc are safe for pedestrians, according to a road safety status report released on March 9, 2017. The report, which was produced jointly by John Hopkins University,...


Leading the Way


Ellen Johnson Sirleaf, president of Liberia and the first female Head of State in the continent, paid an official four-day visit to the country this week. The President and Prime Minister Hailemariam Desalegn met at the...


Hilton Addis Up for Sale


Hilton Addis, Ethiopia’s first, and for a long time only, international hotel franchise, will be up for privatisation in no less than three years when the existing management contract comes to an end, sources disclosed...


Awash Sweeps with 20,000 Br Bid


Awash Bank’s share value has soared to new heights, with the highest offer of 20,137 Br for a single share, as the Bank's share auction comes to a close. The offer was made during the third round of bidding that was he...


Zemen Share Auction Attracts ‘Sensible’ Bids


Zemen Bank completed sales of its shares returned by foreign nationals of Ethiopian origin on Saturday March 3rd, with three rounds of share auctions. The highest price offered in the auction was 1,550 Br. Zemen’s shar...


CBE Fails to Sell Another Textile Factory


The Ministry of Public Enterprises has issued an official letter to the Commercial Bank of Ethiopia (CBE) in an effort to take back its remaining shares from Selendawa Textile Factory. This came after CBE, the project...


Major IT Player Announces 480m Br Expansion


CNET Software Technologies Plc launched a software development, integration, cloud computing and research center at the ICT Village in Bole Lemi with a total investment of 480 million Br. The venture was officially ki...


Bunna Insurance Recovers from Losses for the First Time


Bunna Insurance’s net profits have climbed to one million Br of positive profits, as the firm recoverd from its 10 million Br loss a year earlier. Bunna reported the profit after operating in losses for the past three...


Africa Insurance Posts Lukewarm Performance


Africa Insurance Company (AIC) has registered stagnant profits for the recently ended fiscal year, 37.8 million Br. This profit was reported in a year where about 10 of private insurers had declining profits and sharehol...


Dashen Brewery Donates to Stadium


Dashen Brewery S.C has given 50 million Br for Bahir Dar International Stadium, which is going to be used to buy modern seating. The money was given to the regional state Youth & Sports Affairs Bureau. The donatio...


Grandiose Opening


The Ramada Addis, a new 136-room luxury hotel on Africa Avenue (Bole Road), was officially inaugurated with a marching band and fanfare on February 24, 2017, following its completion and test run which began in July 2016...


Farmers Cry foul over DBE’s New Loan Procedure


The Development Bank of Ethiopia (DBE) has introduced a new loan procedure to finance the commercial farm sector, which has seen many ups and downs in recent months. The move came three weeks after the state-owned Bank r...


Editorial

Last week Diriba Kuma, mayor of Addis Abeba, was in attendance for the...


Agenda

Despite widespread concerns over foreign exchange crunch in the economy...


Fineline

There could perhaps be no political party in the wo...


Commentary

With recent events in the country such as mild earthquakes, the need to...


Viewpoint

Though Ethiopia is the first African country to make modern laws, inclu...


Opinion

In the 16th Century, Polish astronomer Nicolaus Copernicus published a...


View From Arada

A mountain of garbage that had accumulated in "koshe" gave way to a lan...


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