Royal Tulip Enters Ethiopian Market


Louvres Hotel Group has signed a 20-year management agreement with Begez Business Group to run the Royal Tulip Plaza Addis Abeba Hotel Luxury Style Collection. The agreement was signed by…


United Boosts Capital, Shareholder Return

United Bank S.C. has shown a profit of 339 million Br this year, 20pc higher than last fiscal year. The bank’s growth rate is higher than the average rate of…


New Chairman Takes Helm at Development Bank

Shiferaw Shigute, the former minister of education and former board chairman of the dissolved Construction & Business Bank, has been tapped as the new board chairman of the Development Bank…


Alleged Elaborate Heist Busted

Seven defendants suspected of stealing steel bars from the Addis Ababa Saving Houses Development Enterprise were charged and brought before the 15th Criminal Bench of the Federal High Court. The…


Cassation Bench Axes Trademark Dispute

The long court ordeal between Addis Ababa Foam and Plastic Factory and New Flower General Trading on the issue of trademark and unfair competition reached its conclusion after the Cassation…


Nile’s CEO Departs, profit Down

Nile Insurance‘s CEO has stepped down following declining profits for the second year in a row. The firm confirmed that Melaku Sissay left his position on December 15, 2016, and…


New Policy to Ensure Labour Safety

The Confederation of Ethiopian Trade Unions has tabled a draft policy document concerning labour safety in work places. The Union already finalized the policy entitled “Labour Safety & Health Protection”…


Defense Enterprises Establish New Share Company

Two state-owned defence construction companies are teaming up with a U.S.-based company to create a share company to manufacture building materials. The new company, Legendary Defense Products, was formed by…


Teshome G. Mariam Passes Away at 86

Teshome Gebremariam Bokan, a prominent corporate lawyer, has passed away on Friday, December 16, 2016, at the age of 86. He passed away on his birthday while away on a…


Power Players

The Gibe III Hydroelectric Project was inaugurated by Prime Minister Hailemariam Desalegn on December 17, 2016, two years behind its initial completion schedule. Hailemariam congratulated Azeb Asnake, CEO of Ethiopian…


Results from Gambella Commercial Farms Disappointing

Massive loans poured over the years into commercial farms in the Gambella Regional State have results with 84pc spending on the intended purposes, but with disappointing results of productivity that…


Two Billion Birr in Unrefunded VAT Hurting Companies

A group of businesses owed a huge amount of money by the Ethiopian revenue & Customs Authority (ERCA) met this week with officials to request a speedy resolution to the…


Gov’t Fully Privatises Ambo Mineral

The government has transferred 33pc of its remaining shares in Ambo Mineral Water to Ambo International Holding Ltd for 19.7 million dollars. The deal was made between the company and…


Lukewarm Performance at NIB

The net profit of Nib International Bank (NIB) saw a six percent rise to 357 million Br during the last fiscal year. But even though Nib increased its profits, its…


New Vice Governor Takes Up Post from Retirement

Tiruneh Mitafa, former vice president of the Development Bank of Ethiopia (DBE) has been appointed as a new vice governor at the National Bank of Ethiopia (NBE), after he went…


Projects To Rehabilitate Infrastructures Await Government’s Approval

A half billion dollar loan from foreign banks and projects has been tabled for approval from the Parliament. The loan is intended for five infrastructure rehabilitation projects. The projects focus…


Editorial

Ethiopia is in the midst of a state of emergency. At a press conference...


Agenda

Holidays are mostly considered by the Banks to be a peak season when it...


Fineline

Addis Abeba is in a bizarre mood lately. And for a...


Commentary

Over the past decade or so, Ethiopia has been in the limelight of globa...


Viewpoint

Over two-thirds of Africa’s people lack access to electricity. Approx...


Opinion

Karl Marx was not such a naive man, as some would be forgiven to think,...


View From Arada

Our subscribers to the print edition are entitled to get a bonus in a f...


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