Cabinet Slashes Zonal Stadium Budget



After being criticized for excessive budgets for five zonal stadiums which would cost 300 million Br each, the Addis Abeba City Administration Sport and Youth Bureau has revised its plan, and will now construct youth clu...


State of Emergency Evolves with Time


The state of emergency could possibly be extended for another term, depending on the results of various government surveys done around the country, according to Prime Minister Hailemariam Desalegn. His disclosure came...


Trans-Africa Highway Gets Fresh Start in South


A long delayed section of the Trans-African Highway project, a 60Km road from Chucoo to Yirgachefe in the Southern Nations, Nationalities & Peoples Regional State, has been awarded to a Chinese company, after the con...


New Audit Regulation Tightens Procurement Process


The Ministry of Finance & Economic Cooperation (MoFEC) has announced a new regulation regarding penalties that officials will face if they do not procure items following the proper process. Officials will face financ...


Lion Puts on Modest Performance at Auction


Lion Insurance SC has seen a highest per share bid of 50.5 Br per share, 202pc of its par value of 25 Br, during the first round of its share sales. However, there was no bid less than 400 shares. The auction was not div...


Nib’s First Round Sales Up in the Air


Nib International Bank S.C. (NIB) received a highest offer of over 400pc above its par value of 500 Br during the first round of its auction of shares returned by foreign nationals of Ethiopian origin. However, the Bank...


Gov’t Redraws Restrictions under State of Emergency


The Ethiopian government has relaxed some of the restrictions on civil liberties imposed under a state of emergency declared on October 9, 2016. Curfews imposed near industrial sites and mega projects are no longer in e...


Answer to Housing Crisis Raises Questions


The 1,292 residential units under the 40/60 condominium housing projects inaugurated on March 11, 2017, may not be transferred to homeowners at the expected time, according to officials from the Addis Abeba Housing Devel...


Food Inflation Hits Nine-Month High as Vegetable Prices Soar


Food inflation soared to its highest level in nine months in February, reaching 7.8pc similar to last February. One of the major factors behind the inflation was the rise in the prices of vegetables. This comes during th...


Highest Offer Holds No Water for Abyssinia


First round share auctions at the Abyssinia Bank has resulted in the withdrawal of the highest bid, an offer of 1,410 Br per share. It is 56 folds of the par value, offered by a local businessman, Anley Alemu Seyoum.


New Terms for Solar Device Importers


The Development Bank of Ethiopia (DBE) is revising terms that private solar device providers need to comply to access 20 million dollars loan secured from the World Bank. The policy bank, got the working capital loan nin...


Berhan Auction ends on 4,100 Br Strong Note


Berhan Bank has presented a solid showing during the latest S.C round of share auctions held by private banks, with a highest offer of 4,100 Br per share for a lot of two shares. The Bank carried out its auction of share...


Addis Gets One More International Brand Hotel


Movenpick Hotels and Resorts, a Swiss hotel management company operating in 25 countries, has signed a 20-year management deal with Yobek Electrical Enterprise to bring Movenpick to Addis Abeba. Ozzie Business and Hos...


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.


Editorial

Last week saw a series of events where the political bigwigs from the f...


Agenda

The cement industry in Ethiopia, although still largely untapped, is se...


Fineline

It is unusual for a federal agency to get estranged...


Commentary

Recently, the National Bank of Ethiopia (NBE) had announced the mandato...


Viewpoint

Neglected Tropical Diseases (NTDs) disproportionately affect women and...


Opinion

Until very recently, Turkey was a proudly democratic Middle Eastern cou...


View From Arada

We often underestimate the importance of time managiment. Especially in...


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