Abay Bucks Trend as Profits Soars



Abay has posted a 146.5 million Br net profit under tight liquidity conditions. The Bank has been reporting a positive profit growth over the past five years. The current year’s profit is six times higher than 2011/...


Dalol Floats 22m Br Shares to Unidentified Investor


Dalol Oil S.C., one of the local private oil companies, is currently negotiating with unidentified investor to sell 22 million Br worth of shares having a par value of 1,000 Br in its bid to recapitalize itself amidst to...


Billions in Commodities Traded, Reveals ECX


The Ethiopian Commodity Exchange (ECX) traded over 10 billion Br in the first six months of the current fiscal year.   In the same period, the exchange reached 96pc of its target in trade volume and 94pc in trade value...


Road Building Boom Continues


The latest six-month report released by the Ethiopian Roads Authority (ERA) revealed that it spent over nine billion Birr to construct roads in the past six months. This accounts for close to one-fifth of the budget allo...


Discoursing “DISCOURSE”


Inspired by the American foreign policy journal, Foreign Affairs, the Ethiopian Foreign Relations Strategic Institute (EFRSSI) launched a quarterly policy magazine on Thursday, January 19, 2017, at the National Museum. S...


ABREAST!


The Mohammed Hussein Ali Al-Amoudi Stadium in Woldiya, in Amhara Regional State, was inaugurated on Saturday, January 14, 2017, in the presence of Prime Minister Hailemariam Desalegn (right) and Mohammed Al-Almoudi (Shei...


Prime Minister Hailemariam to be Guest of Honor at CEO Forum


Prime Minister Hailemariam Desalegn is to be the guest of honor at the Africa CEO Forum, which will be held in Geneva on March 20 and 21, 2017. Hailemariam will present the strategic points of his economic policies in...


Closed Beverage Bottlers Resume Operations


After almost ceasing operations for the past month, the Coca Cola, Ambo and Pepsi plants in Dire Dawa, Hawassa and Ambo have restarted operations with the permission of Ministry of Trade. The plants, owned by MOHA Sof...


Tiret to Take Over Textile Mills


The Prime Minister Office has given the order to Ministry of Public Enterprises (MoPE) to transfer Bahir Dar Textile S.C, and Kombolcha Textile S.C, to Tiret Corporate, an endowment company affiliated to the ruling party...


Bid to Build Addis Convention Center Back On


Nine construction companies are competing to build the Addis-Africa International Convention and Exhibition Center S.C. (AAICEC). Two local and seven foreign contractors are part of the bid to construct phase one of the...


CBE Seeks Bond to Raise Capital


The Commercial Bank of Ethiopia has been approved to issue long-term bonds in a bid to strengthen its capital. The Bank presented a bill to Parliament last week to raise its current capital by threefold to 40 billion...


New Road Contracts to Connect Four Regions


The Ethiopian Roads Authority (ERA) has awarded eight road contracts worth 6.4 billion Br to four local and two foreign contractors. The roads will cover 372km across four regional states. The largest portion of the a...


Court Strikes Objection Down in Steel Theft


Judges at the Federal High Court have struck down objection made by suspects accused in the theft of steel bar prosecutors say are worth 6.4 million Br. In a verdict they passed on January 10, 2017, judges at the 15th Cr...


Oromia Bank Notches Modest Profit


After raising paid up capital from quarter billion to almost a billion Birr, Oromia International Bank (OIB) registered a 249 million Br net profit for the recently ended fiscal year, 12pc higher than the preceding fisca...


Youth Jobs Strategy Takes Shape


After a year of preparation, the Ethiopian government has launched the first set of actions to address unemployment amongst youth. Among other things, the package includes the 10 billion Br revolving fund. The package...


PM Addresses Deep Reform Critics


In the wake of the political and economical uncertainty that has rocked the country for over a year and the state of emergency that still hold the population in a state of limbo, Prime Minister Hailemariam seemed to be t...


Editorial

The news that the Administration of Prime Minister Hailemariam Desalegn...


Agenda

Ashenafi Beza has been in the business of renting out construction mach...


Fineline

The manner in which the current leadership of the O...


Commentary

With the rush to develop Ethiopia and make the country one among middle...


Viewpoint

A recent World Bank report entitled, “Why So Idle? Wages and Emp...


Opinion

The dark specter of evil (the begetter of war) smiles upon this earth,...


View From Arada

When people travel to a new city or town, they might notice the transpo...


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