Police Maintain Custody of Ex- MetEC CEO, Brother


Judges at the Federal High Court granted police an additional 14-day custody to continue their investigation of alleged corruption against Kinfe Dagnew (Maj. Gen), former head of the state-owned military-industrial…


Nation’s Second Toll Road Nears Completion

The nation’s second toll road, Dire Dawa – Dewele, will become operational in two months and is slated for an inauguration ceremony to be attended by high officials. Constructed for…


Nation Launches Migrant Monitoring Database

The International Labour Organisation (ILO) has deployed a data management system for the Ministry of Labour & Social Affairs at a cost of 70,000 dollars. The Ethiopian Migrants Data Management…


Court’s Injunction Temporarily Lifts Nile’s Frozen Accounts

A judge at the Federal First Instance Court issued an injunction against an order delivered by the Addis Abeba Kality Customs Branch Office, of the Ministry of Revenue, for all…


Agency Takes Power of Attorney Services Online

The Agency responsible for registering and authenticating documents launched an online power of attorney service at its four branches last month. The Document Authentications & Registration Agency launched the service…


Police Arrest Second Suspect in Awash Bank Robbery

Police have arrested the second suspect of the armed robbery on Awash Bank’s Jacross Branch, which happened yesterday, December 7, late in the afternoon. The suspects, five in number, robbed…


Authority Renovates Ambassador Park

Addis Abeba River Basins & Green Areas Agency has begun the renovation of Ambassador Park at a cost of 42 million Br. The construction of Ambassador Park, which lies on…


Wegagen Scores Massive Profit but Leaves Some Shareholders Questioning

Wegagen Bank, one of the 16 private commercial banks, has become the third bank, along with Awash and Dashen banks, to pass the one billion Birr mark in gross profits…


Divestment Burgeons United’s Performance

The two-decade-old United Insurance has cheered up its shareholders by doubling its net profit in the last budget year. Triggered by higher underwriting surpluses and investment returns, the shareholder return…


DIPLOMATIC CHARM

Muferiat Kamil (right), minister of Peace, was glad to see two high-ranking United States diplomats at her office in Wollo Sefer area on November 28, 2018. While the US has been supportive and positive of the government


United Secures Disputed Multi-Million Birr Insurance Deal

After three weeks of controversy, the Ministry of Labour & Social Affairs has bestowed domestic workers’ insurance coverage, estimated at 300 million Br, to United Insurance. The contract limits the…


Eth-Switch Gets Second Boss, After Half Year

Eth-Switch S.C, a consortium of all banks established to integrate the national electronic payment system, has welcomed Yilebes Addis, former Chief Information Officer of Kifiya Financial Technology, as its new…


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…




Editorial

With a reformist administration in charge of the executive, there has b...


Agenda

The new electricity tariffs that became effective on December 1, 2018,...


Fineline

Who it is that midwifed the rapprochement between E...


SUBSCRIPTION OFFERS

Commentary

Ethiopia’s economy is at a crossroads. The same old advice will not s...


Viewpoint

A recent photo between Prime Minister Abiy Ahmed (PhD) and George Soros...


Opinion

The future is bleak. Millennials and younger generations who will inher...


View From Arada

There is heated debate on the propriety, decency and morality of breast...




Business Indicators



ADVERTISEMENT


Editor's Pick
















SUBSCRIBE TO ADDISFORTUNE

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT


ADVERTISEMENT







Verbatim, News Analyis, Lifestyle, Radar and...






//