Development Bank Loses Its President


Esayas Bahre, long serving president of Development Bank of Ethiopia has left his post, effective November 18, 2016. Esayas’ tenure came to an end when he received a letter of dismissal…


Heineken to Claim No1 Production Capacity

Heineken Ethiopia is set to inaugurate its one year expansion project executed at a total cost of 2.4 billion Br. The project will give the company the highest production capacity…


HIV Kits Arrive Amid Court Battle

While in the midst of a court battle between Medica Pharma and Pharmaceuticals Funds & Supply (PFSA) is adjourned until January, 2017 a Chinese manufacturer, Beijing Wanti Biological Enterprise, has…


United Declares Stagnant Profits

United Insurance Company S.C (UNIC) has reported a stagnant net profit as earnings per share contracted and income from insurance units slumped. The company reported a slight increase in net…


Group Picks Ethiopia to Lead Climate Change Negotiations

Over 190 countries gathered in Marrakech, Morocco, from November 7-18 to participate in the United Nations international climate change negotiations. The climate talks aimed to concretize the Paris Agreement –…


Modjo Port Expansion Sees Delay

A project worth over 1.4 billion Br for the expansion of dry port at Modjo has been stalled for over a year due to the contractor’s difficulty in finding spare…


Addis Ready to Revitalize its Rivers

Addis Ababa River & Riversides Development Project Office has selected six rivers and their associated infrastructures to be rehabilitated at a cost of 31 million Br. The rivers are located…


Wegagen’s Overcapitalization Leads to Slow Profit Growth

Wegagen Bank S.C has reported a seven percent rise in profits for the recently ended the year, while its earnings per share dropped to 222 Br from 244 Br of…


Belay Ab Bags 144m Br Contract to Supply Vehicles

Public Property Service has awarded Belay Ab motors a 144 million Br contract. This is the second time in a week that the company has been awarded a government contract.…


Building Up

Present at the inauguration of the new Awash Bank building this weekend were a representative of Zeleke Belay Architect (on the left), Mayor Diriba Kuma (center), and Tsehay Shiferaw, President…


May – Home buyers, Keep Fighting Amongst Execution

May Real Estate has opened a new court case to reclaim outstanding payments from its homebuyers, while at the same time handing over 24 apartments to owners as ordered by…


Inflation Hits Record Low in Two-Years

Last month saw a record low inflation rate of 5.6pc, since the onset of the worst drought in years and the wave of popular unrest approximately two years ago. It…


Awash Insurance Keeps Leading

The profit after tax of the Awash Insurance Company (AIC) has increased to over 90 million Br. At the same time, its earnings per share has declined by 66 Br…


Addis Loses 26M Br to Accidents in First Quarter

Addis Abeba lost more than 26 million Br as the result of fire and other accidents in the first quarter of the year. This came as the result of 94…


Belay Ab Secures Multimillion Br Vehicle Supply Contract

Belay Ab Motors, a known name in the local automotive industry, has won the tender to supply 22 vehicles to federal offices – each worth 1.2 million Br. The company…


State to Impound Dividend of Ethiopian Origins

Foreign nationals of Ethiopian origin who are shareholders in Ethiopian banks and insurance have been given 60 days to relinquish their shares and return their share certificates. Upon returning their…


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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