PRIVATE MATTERS


Yinager Dessie (PhD) (left), governor of the National Bank of Ethiopia (NBE), met with private business players at the bank's premises, off Sudan Avenue, on July 19, 2018. The Governor, who was recently appointed to the...


Largest Cold Rolling Mill Plant to Break Ground in Bahir Dar


A business wing of the Amhara Regional State is going to invest close to two billion Birr to construct the nation's largest steel cold rolling mill complex in Bahir Dar, 578km north-west of Addis Abeba. Abay Industry...


Changes Afoot atop Central Bank


A veteran government official, Girma Biru, has assumed the chairmanship of the board of directors at the National Bank of Ethiopia (NBE), heralding a management reshuffle after almost a decade. Prime Minister Abiy Ahm...


Parliament, Ministries Reach Accord to Ensure Accountability


In an effort to ensure the accountability of the government, parliamentary standing committees signed an agreement with the executive branch on delivering annually targeted performances for each ministry. The signing...


Document Registration Agency Goes Online


The Document Authentications & Registration Agency (DARA) launched an online document registration servicing nine of its branches at a cost  of 5.3 million Br. Developed by Custor Computing Plc, the new system ha...


Nexus Hotel Expands Further with 410m Br


Nexus Hotel, one of the locally-branded hotels, has completed a significant expansion with a 410 million Br investment. The development pushed the total number of rooms at the hotel to 151. The new building is adjacen...


Railway Labour Union Drops Strike after Pay Raise Vows


The management and employees of the Addis Abeba Light Railway Transit (AA-LRT) have reached partial settlement after the management agreed to grant most of the employees' demands. All of the trainmasters went on a day...


Habesha Weekly Grips Easter Expo Bid


Habesha Weekly, a local event organiser and promoter, made a second high offer of 21 million Br in the span of one week to organise the upcoming Ethiopian Easter holiday expo. A week ago Habesha signed an agreement wi...


Dashen Kicks off Mobile Electronic Payment Service


Dashen Bank, one of the nation's leading private commercial banks, has launched a digital wallet system. The private bank's electronic service will allow customers to make purchases via their mobile phones. The servic...


City Expands, Renovates Oldest Zoo


The Addis Abeba City Administration is investing 28 million Br for in the renovation and expansion of the Addis Zoo Park Center, located in the Sidist Kilo neighbourhood close to Addis Abeba University. The 12ha-expan...


Ethiopia, Eritrea On Positive-Sum Road


The last time he was here it was in 1996, two years before his troops advanced into what was then a disputed town, Bademe. The war caused a bloody two-year conflict with Ethiopia and the subsequent standoff that lasted o...


Think-tank Embarks Scrutiny to Detect Commercial Farming Mess


The state policy think-tank launched research to assess the causes behind the non-fulfilments of rain-fed commercial farming. It will also develop a strategy to find a way out of the sector's current slowdown. The Eth...


State Bank Switches its Switch


The state giant, Commercial Bank of Ethiopia (CBE), is to launch a new electronic funds transfer system after completing  a pilot project it runs close to a year. The three-quarter century bank has been using “Swit...


Aviation Authority Sets to Shine with New HQs


The nation's air transport administrator is soon to get a new headquarter complex at the cost of 322 million Br paid from the government’s coffers. The new construction will house the Ethiopian Civil Aviation Author...


Ethiopia Hails Six Countries to Host Regional Meteorology’s HQs


The government of Ethiopia is going to invest one Billion Birr to construct a new headquarter for the World Meteorology Organization’s (WMO) African Regional Office, a United Nations Agency which is relocating to Ethio...


Habesha Weekly Places Record High Offer to Host Christmas Expo


A local event organiser and promoter won the bid to present the next Christmas holiday bazaar and exhibition by placing the highest ever bid price paid for the venue. Habesha Weekly Promotion won the bid for Addis Abe...


Half a Dozen Firms Vie to Furnish Condo Houses with Elevators


Six local companies are vying to supply 82 elevators with an estimated cost of 134 million Br for housing units being built for middle-lower income housing schemes. Racrob Business, Sintec Ethiopia, Mekong General Tra...


Agency Touches Ground to Develop River Basins, Greenery


A new agency tasked with the development and safekeeping of river basins and green areas of Addis Abeba is to be established by the City Council. A proclamation for the establishment has been drafted by the city’s P...


Two Foreign Firms Vie to Supply Steam Coal


Two international companies are vying to supply steam coal which will be distributed to cement factories operating in the country. The procurement would likely cost the country close to 50 million dollars. Glencore In...


Football Federation Endeavours to Acquire HQs


The nation's football federation is attempting to acquire a five-storey headquarter building for the fourth time. The acquisition would cost the federation over 70 million Br. The Ethiopian Football Federation (EFF) h...


Capital’s Audit Gap Shrinks by 15pc


The Addis Abeba City Administration’s Auditor General’s Office uncovered 767.8 million Br of audit gaps and financial irregularities in the last fiscal year Sixty of the city’s agencies had their financial condi...


Commercial Bank Mang’t, Labour Union Dispute Heats Up


The Labour Union of the state-owned giant Commercial Bank of Ethiopia (CBE), and the management of the bank are in dispute as CBE undergoes restructuring. The Labour Union, which has a total of 29,000 active members,...


Austere Budget Passes Without a Hitch


Parliament unanimously passed the federal government’s budget for 2018/19 last Friday, July 6, 2018. Standing at 346.9 billion Br, it is five percent lower than the previous year’s budget in dollar terms. Over two-th...


Huawei Loses Appeal on Trademark Royalties


The Ethiopian Revenues & Customs Authority (ERCA) has rejected a claim made by Huawei Technologies Ethiopia Plc of paying trademark royalties to its mother company. Accordingly, the company is compelled to settle 100...


PM Office Orders Transfer of Lemi Valley to Corp.


The Office of the Prime Minister has ordered the Ministry of Communications & Information Technology (MCIT) to transfer the lone ICT-Park, a.k.a Lemi Valley,of the country to the Industrial Parks Development Corporat...


Nation’s Budget Gets Approval Amidst Anxiety in Tax Collection Capacity


With all the anxiety and reservation of the tax revenue’s ability in covering 68pc of this year’s budget, the legislators have approved a 346.9 billion Br budget for the newly started fiscal year. Parliament has u...


Two Companies Win Bids to Construct 22 Silos


Two construction companies won bids to construct 22-grain silos, designed to be used in case of disasters in two regional states, for a total of 1.45 billion Br. The Chinese Zhongyang Construction Group and the local...


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