Judges Grant Police Custody Right of MetEC Officials


Judges at the Federal High Court granted police another 14-day extension to keep in custody 26 officials from the state-owned military-industrial conglomerate Metals & Engineering Corporation (MetEC). The police requested…


Unpaid Workers  Hold Indians Hostage

Angered over unpaid salaries, local employees in Nekemte, Bure and Woliso towns, in Oromia and Amhara regional states, took seven Indian employees hostage on Sunday, November 23, 2018. Khurram Imam,…


Nation to Recieve National Soil Information Centre

The Agricultural Transformation Agency (ATA) is set to build a national soil information system in a bid to collect, store, interpret and disseminate information about soil found in Ethiopia at…


Liquor Company Rises to Meet Demand for Bottling Caps

A new aluminium and plastic bottle cap factory will join the market to supply both domestic and export markets. The factory is an expansion project of the liquor producing company,…


Planners Debate Fate of Africa’s Political Capital

Addis Abeba was host to the 2018 Urban Age conference, where urbanisation, its future and its effects were discussed among experts, last week. With the hyper pace of urbanisation in…


Local Leather Firm Branches out to Washington, D.C.

ZAAF Collection, a local leather company that manufactures handcrafted leather goods and accessories, is opening its first overseas store in Washington, D.C. Located on 14th street, dubbed the most chic…


Chinese Firm Seals Deal to Install Bus Shelters

Addis Abeba will receive 500 additional bus shelters before the end of the current Ethiopian year at a cost of 156.6 million Br. Jiangxi Water & Hydropower Construction Company secured …


Lucy Bolsters Yield for Third Year

One of the younger insurance firms, Lucy Insurance Company, has reported a 26 million Br net profit in the last fiscal year, which makes for a 60pc increase. Named after…


Real Estate Firm Selects Architects to Design 25-Storey Complex

A 25-storey apartment, office and entertainment complex has stepped closer to realisation after OIB Oda Real Estate selected K2N Architecture & Engineering Consultancy to prepare a final design. The concept…


New Jute Sack Factory Joins Market

A local trading company, G-Seven General Trading & Industry opened a new jute sack manufacturing factory in the Hadya Zone of the SNNPR for a cost of 60 million Br.…


Abyssinia Hikes Profit, But Dividend Goes Cold

Abyssinia Bank registered a net profit of 562.8 million Br in the last financial year, a 10pc increase. But dividends to shareholders declined to 6.1 Br per share. During the…


THE BET ON DEMOCRACY

Two former judges, Birtukan Mideksa (left), a prominent activist and politician, and Meaza Ashenafi, president of the Supreme Court, stood before parliament last Thursday, November 22, 2018. Birtukan was nominated…


NBE Issues Directive to Ease Dividend Payments for Shareholders and Insurance Companies

Dividend payments to shareholders of banks and insurance companies will be settled right after shareholder meetings, according to a new directive issued by the National Bank of Ethiopia (NBE). The…


Ahmed Hamza (B. Gen) Appointed as New Director General of Ethiopia’s State-owned Military-industrial Conglomerate MetEC

Prime Minister Abiy Ahmed (PhD) appointed Ahmed Hamza (Brig. Gen) as a new director general of the state-owned military-industrial conglomerate, Metals & Engineering Corporation (MetEC), replacing Bekele Bulado (PhD). Ahmed,…


Renegotiation Brings Back La Gare Eagle Hills Project

After a two-month delay caused by differences on land lease payments, Prime Minister Abiy Ahmed (PhD) cut the ribbon for the 50-billion-Br La Gare Eagle Hills Project early last week.…


PetroChina Lands Low Bid to Freight Nation’s Petroleum

PetroChina offered the lowest bidding price of 27 billion Br to freight nearly 2.2 million tonnes of petroleum products in 2019. Three international companies, Vitol, Trafigura and PetroChina, bid on…




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