It was a cheerful Worqneh Gebeyhu (PhD) (second from left) that chaired the Intergovernmental Authority on Development’s (IGAD) 66th extraordinary session of the Council of Ministers. It came two days after the Unit...

A local share company has started negotiations with the government to buy the oldest sugar estate, Wonji Shoa Sugar Factory, with an offer of 11 billion Br. In a letter dated October 16, 2018, Ethio-Sugar Manufacturin...

Addis Abeba city administration inaugurated eight water wells at a cost of 1.2 billion Br on Saturday, November 18, 2018. The wells are located at Kilinto, Keye Fechi and Tuludimitu areas. Built by the City Water &...

The Ethiopian Standard Agency is building a training academy at a cost of 300 million Br. The academy will consist of two structures, a seven-storey building, which mainly consists of classrooms, and a five-storey bui...

The World Bank appears to have regained its confidence and restored its “trust” in the government of Ethiopia to resume direct budgetary support, after years of interruptions following electoral disputes. It was i...

Debub Global Bank, one of the youngest financial institutions in the country, become the third bank to open a premium branch. Located near Medhanialem Church in Bole District, the bank's premium branch takes up 170Sqm...

Eight international companies are bidding to supply a multi-mission earth observation satellite receiver and tracking equipment for the Ethiopian Space Science & Technology Institute. The satellite receivers will be...

Digata Industries Inc handed over the one-million-dollar National Soil Test Center, which has been in dispute for the past four years. It also received a payment of 270,000 dollars. The company, which conducted the fe...

Seven insurance companies are protesting the recent award given to United Insurance to provide coverage to an estimated one million domestic workers traveling to the Middle East. The companies lodged their complaint t...

Abay Bank reported a 66pc rise in its net profits, which reached 317 million Br during the last fiscal year. Shareholder return also reached 284.2 Br a share, a 19.2pc rise, unlike the nearly constant growth rates of pre...

Employees of Abay FM Radio, one of the 12 private radio stations, took the company to court by claiming unpaid salaries since September. Filed on October 30, 2018, at the First Instance Court Kirkos Labour Case Divisi...

A Court has denied 64 suspects the right to bail when federal police brought them before a federal judge at the 10th Criminal Bench of Lideta Division, as late as 9:00pm today. Among the suspects are 28 employees of t...

Police have arrested 63 individuals, 27 of which are suspected of alleged corruption, Berhanu Tsegaye, the attorney general, confirmed at a press briefing broadcast live today. The entire investigation took five month...

Dagmawit Moges (left), minister of Transport, and Ergoge Tesfaye (PhD), minister of Labour & Social Affairs, were at the headquarters of the Economic Commission for Africa on November 5, 2018, for the official launch...

The National Bank of Ethiopia lifted some rescheduling, restructuring or renegotiation of outstanding loans. The governing bank also released a new loan portfolio scheme for commercial banks. With the amendment, the b...

Parliament elected eight MPs to chair standing committees during its Friday, November 9, 2018, session. While rejecting the nomination of two, the legislative body elected women to head half of the eight standing committ...

DP World, already involved in a heated legal dispute with Djibouti, is suing China Merchants for building an international free zone on a Djibouti Container Terminal, where DP World claims a half century exclusive right...

Oromia International Bank registered a staggering net profit of 727.7 million Br last fiscal year, a 145pc increase from its last performance. Such a remarkable surge in profit is not common in the financial sector. T...

Eco Green Organic Liquid Fertiliser Producing PLC began production of organic liquid fertiliser on October 20, 2018 in Arsi,  Oromia Regional State, in a ceremony organised by Eco Green, the Oromia Bureau of Agriculture...

Three international companies are competing to supply gas oil, regular gasoline and jet fuel to the nation in the coming year. Vitol, Trafigura and Petro China are vying to supply 1.2 million tonnes to 1.4 million ton...

Headline Inflation, an indicator of the cost of living, declined for the third consecutive month reaching 11.5pc in October, according to the latest figures from the Central Statistical Agency (CSA). The rate shows a...

Global Insurance Company improved its profit bottom line to 21.4 million Br, a 15pc increase from the previous year. However, its earnings per share (EPS) fell to 98 Br from last year’s 112 Br. A massive capitalisat...

Ker Water S.C. invested 90 million Br to set up a water bottling company in the Southern Nations, Nationalities & People’s regional state. The new product, branded Ethio Water, will be available in the market by th...

Twelve manufacturers of electrical equipment have formed an association and registered with the Ministry of Industry. The new Ethiopian Power Generation, Transmission & Distribution Equipment Manufacturers Associa...

Parliament refused to accept the nomination of Motuma Maqassa, the former minister of Defense, and Atsebeha Aregawi to chair the International Relation & Peace and the Revenue, Budget & Finance standing Committee...

President Sahle-worq Zewdie, Ethiopia’s first female President, arrived in Johannesburg today to attend the first investment forum for Africa that its organisers insist is more “transactional” than an event. It is...

On Friday, November 2, 2018, the World Bank’s International Development Association approved grants and loans to Ethiopia. Carolyn Turk (left), country director for Ethiopia, Sudan and South Sudan at the World Bank, an...