Category: Lates News
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Washington Revokes Ethiopia Trade Privileges Effective Next Year
The US government has terminated Ethiopia’s involvement in the African Growth & Opportunity Act (AGOA), citing “gross violations of internationally recognised human rights.” Signed into US law in 2000, AGOA permitted the duty-free entry of African produced goods. Ethiopia has been privileged to export close to 6,500 items to the US market, with an annual […]
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Wereda Officials Shut Mercato Commercial Building, Leaving Tenants in the Cold
City authorities have shut down a commercial centre in the country’s largest marketplace over allegations the share company that owns the building has not renewed its license. It is a decision that puts hundreds of tenants in the crossfire. Officials from the Wereda 8 Trade Bureau of the Addis Ketema District sealed the building off […]
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IMF Foresees Over 90m Falling into Extreme Poverty Worldwide due to COVID-19
The global pandemic is set to cause a disturbing slide to extreme poverty and inequality, leading over 90 million people across the world fall below 1.90 dollars daily income, the International Monetary Fund (IMF) warned. The IMF released its flagship annual report, the World Economic Outlook, where it sees growth recovery from COVID-19 impact as […]