Content: Fortune News

  • StarTimes Joins Pay Tv Market, Gives DStv Competition

    The Chinese multinational company, StarTimes, begun direct paid broadcast satellite service, making it the other player in the market besides DStv. Bridgetech Broadcasting & Media Plc, the local exclusive agent of StarTimes, began selling subscriptions to customers last week. StarTimes is based in Beijing and was established in 1988. Bridgetech obtained a license from the […]

  • Jurassic Apathy

    Jurassic Park was a good movie. All of what followed disappointed though. Jurassic World: Fallen Kingdom does not buck the trend. Christian Tesfaye awards 5 out of 10 stars.

  • Malting Factory Brews at Industrial Park

    Ethiopia is going to get the fourth malt processing plant, to be built by Malteries Soufflet Group Company with 50 million dollars in Bole Lemi Industrial Park. The processing plant will lie on 10,000sqm and will have a capacity of producing 60,000tn of malt a year. Soufflet signed a land lease agreement with the Industrial […]

  • Container Traffic at Djibouti Port Waves by 25.8pc

    The container traffic at Djibouti`s Doraleh Container Terminal (DCT) has seen a swell of 25.8pc, following the takeover of the new managing company, according to Djibouti Ports & Freezone Authority (DPFZA). Following the departure of DP World, Djibouti’s Doraleh Container Terminal Management Company has signed a deal with the Singapore-based Pacific International Lines (PIL) in […]

  • Austere Budget

    It is that time of the year when the Minister of Finance & Economic Cooperation – Abraham Teksete (PhD) in this case – appears before Parliament to table the budget bill for the upcoming fiscal year to the federal government. In the past couple of years, the session has been characterised with ambitious budgets to […]

  • Keangnam Lands Partial Relief of Taxes for Reentry 

    Keangnam Enterprise Limited, a Korean construction firm that had requested the government to be relieved of 75.6 million Br of unpaid taxes has finally agreed to pay the due amount in instalment payments. The company, which pulled out of Ethiopia in 2016 after operating for two decades due to bankruptcy, is trying to re-enter the […]

  • Authority Awards 13b Br Road Projects

    Out of the nine road projects the Ethiopian Roads Authority (ERA) awarded to eight companies late last week, a Chinese firm made the highest offer to construct a 68.8Km alternative road for Limalimo. Beijing Urban Construction Group Co. Ltd, a company founded in 1993 in Beijing offered 31 million Br a kilometre to construct the […]

  • Regional Broadcaster Gets Media Complex for 1.45b Br

    Oromia Broadcasting Network (OBN), the regional broadcaster of the Oromia Regional State, is soon to acquire a modern media complex for 1.45 billion Br in Addis Abeba. Elilly Hotel, located off Joseph Tito Street, was the venue where Oromia Urban Development & Housing Bureau signed a contract agreement with China State Construction Engineering Ethiopia (CSCEE) […]

  • Inflation Lies Dormant, Despite Supply Shortage

    The latest consumer price index from the Central Statistical Agency (CSA) reports that the headline inflation for May stands at 13.7pc, similar to the previous month, despite harsh economic situations in the country. The report indicates that headline inflation, an index of the cost of living, had stagnated last month. What is different from the […]

  • Companies Ally to Manufacture Aluminium Pipe

    The first aluminium pipe factory in Ethiopia, a joint venture of Rifeng Ethiopia and Rifeng China, is set to be constructed in Debre Birhan, Amhara Regional State with a total investment of 380 million Br. To rest on a 10,000sqm plot of land, with a plan to expand to 15,000sqm after the beginning of production, […]

  • Legislators Beat Back Emergency Decree

    The parliament has ended the state of emergency, which the country has been under for the past four months, two months ahead of its cessation. The emergency declaration was lifted during the session that was held last Tuesday. Out of the 348 MPs, who attended the session, eight of them abstain from voting. The declaration […]

  • Ronali Hotel Sets to Expand With Half a Billion Birr

    Addis Abeba is set to get another local brand hotel, Ronali, which comes with a total investment of half a billion Br. The Hotel, located in Bole District will house a total of 203 rooms. Currently, the hotel has completed 64 rooms, a gymnasium, conference room, restaurant, cafe, bar, spa, and commercial centres for a […]

  • Bureau Blesses Residents with Pure Water 

    One hundred thousand residents of the Oromia Regional State have got pure water from water wells. The regional state has invested 51.7 million Br for the project. These residents in the Mukalemi and Ayele towns in Wollega and Belbeliti town in West Hararge zones were getting water from boreholes. The Oromia Water, Mineral & Energy […]

  • Current, Former, ‘Future’ Leaders Meet

    Former British Prime Minister Tony Blair (right) joined Ethiopian Prime Minister Abiy Ahmed (PhD) in a meeting attended by over 1,000 university students, young leaders and future leaders under the age of 29 at the headquarters of the United Nations’ Economic Conference for Africa (UN-ECA) on June 1, 2018. Dubbed “Inspiring the Future Leaders of […]

  • Despite Hurdles Keangnam Hopes for Reentry

    Keangnam Enterprise Limited, a Korean construction company that pulled out of the country after bankruptcy and landing in debt for 339 million Br of taxes and customs duties, has requested the government of Ethiopia to be reinstated despite its past ordeals. The company ceased operations in Ethiopia three years ago after it entered into bankruptcy […]

  • Ayka Addis Sees Ray of Hope from DBE

    Ayka Addis Textile & Investment Group, which has seen massive losses for the past four years, has got support from the Development Bank of Ethiopia (DBE) board of directors. DBE’s board has directed the management of the bank to assist in granting it a pre-shipment credit. The company owed the Bank 2.3 billion Br for […]

  • Police Probes Former DBE Heads

    Former senior management members of the Development Bank of Ethiopia (DBE) are under investigation for alleged corruption crimes. In conducting the investigation, the Corruption Crime Cases Division of the Federal Police Commission (Commission) has sent a letter to all commercial banks requesting reports, if any of the suspects have accounts with the banks and the […]

  • City Council Accuses MetEC of Patchy Buses

    Most of the Anbessa city buses that frequently broke down and went out of service in the first three quarters of this fiscal year were assembled by Bishoftu Automotive Engineering Industry (Bishoftu Automotive), a division of Metal Engineering Corporation (MetEC), according to a report by Addis Abeba City Council (Council). The report demonstrated the results […]

  • Black Lion’s Emergency Medical Unit Construction Still in Problem

    The stalled construction, which is designated to be an emergency medical unit for Black Lion Specialised Hospital under the Addis Abeba University (AAU), is still in peril as the budget allocated for the project can only cover 70pc of the project. Started with an initial project cost of 191 million Br, it’s investment later rose […]

  • Ministry Ushers-in Simulation Laboratory

    High School students are going to take laboratory tests classes with simulators starting from the next academic year. For the new system, the Ministry of Science & Technology (MoST) has developed a virtual laboratory software for use in schools from grades nine through 12. The software which simulates an actual laboratory is developed based on […]

  • Office to Fight Fake Driver’s Licences Digitally

    Addis Abeba is set to launch a software application that will enable traffic officers to detect forged drivers licenses starting mid-June. The system enables traffic polices to scan licenses with smart-phones. Financed at a cost of 2.5 million Br by the Addis Abeba Transport Programs Management Office, Custor Computing Plc., a local company, developed the […]

  • New Standard Arise to Regulate Solar Panels

    The government has drafted a new national standard for the small-scale solar home system (SHS) with the primary aim of regulating the quality of imported items. The standard, which was drafted with a joint effort by the Ministry of Water, Irrigation & Electricity, Ethiopia Standards Agency and Ministry of Environment, Forest & Climate Change, was […]

  • New Hotel Breaks Ground in Small Town of Amhara State

    A small town in Amhara Regional State, Debre Werq, located 300Km north of the capital, is about to get its first new 12-storey hotel costing a total of 300 million Br. Alemye International Hotel, owned by WA Resorts, will sit on a 1,800sqm plot of land in Gojjam Zone of Enarj Enawga wereda. It is […]

  • Rwandan Connection

    Rwandan President Paul Kagame (right) arrived Thursday evening at the Bole International Airport in Addis Abeba for a three-day state visit. For Prime minister Abiy Ahmed (PhD), with Worqneh Gebeyehu (PhD), minister of Foreign Affairs, this marks the first visit by a Head of State, although Abiy has had a busy itinerary, shuttling around the […]

  • Reshuffle Continues at Palace, Police and Agency

    The administration of Prime Minister Abiy Ahmed (PhD) keeps up the reshuffling of senior officials running federal agencies last week, including at the National Palace Administration, the Federal Police and Vital Events Registration Agency (VERA). Three of the four Deputy Commissioner Generals at the Federal Police responsible for departments of Crime Prevention, Crime Investigation and […]