DP World Takes China Merchants to Court


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…


Oromia Bank’s Performance Surges

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…


Production of Liquid Organic Fertiliser Commences

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…


Enterprise Opens Petroleum Bid

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…


Headline Inflation Steps Down for Third Consecutive Month

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).…


Global Insurance Improves Profit, Reduces Claims

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…


Ethio Water to Join Flourishing Market

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…


Electrical Manufacturers Form Professional Association

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 Association became operational on…


Parliament Approves Eight Standing Committee Chairs, Denies Motuma Meqassa

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…


Sahle-worq on Second Foreign Visit after Presidency

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…


ALL SMILES, LIFELINES

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…


NBE Outlaws Pending Under-invoiced Import Clearance

The central bank has prohibited banks from authorising imports with under-invoiced transactions and documentation filed before last December, when the directive that monitors under-invoiced imports was issued. Following an appeal…


United Insurance Seals Deal, Ensures Overseas Employees

United Insurance, one of the oldest private insurance firms in the country, will be insuring a projected one million Ethiopians travelling to Middle Eastern countries for overseas employment. The firm…


Reach-Stackers in Pipeline to Relieve Port Congestion

The government is importing 13 reach-stackers, vehicles used for handling intermodal cargo containers, at ports at a cost of 155 million Br. The Ethiopian Shipping & Logistics Services Enterprise procured…


Nation Integrates Third-Party Liability Motor Insurance

The Ethiopian Insurance Fund Agency plans to develop a database in a bid to integrate all information related to third-party vehicle insurance for an estimated investment of 35 million Br.…


Nation Receives Another Round of WB Financing

The World Bank approved development financing to the tune of 1.35 billion dollars for Ethiopia last week. The financing, approved on October 30, 2018, will support political and economic transformation,…


Awash Insurance Boosts Profit, Capital

Awash Insurance has recovered from its profit decline, registering 128.7 million Br in profits from last fiscal year, a 46pc profit increase. The company’s dividend per share also rose to…


Agency Born to Regulate Construction Industry

A bill to establish a regulatory authority for construction work under the newly merged Ministry of Urban Development & Construction is to be tabled for approval to the Council of…


Lideta Civil Bench Relocates, Rents New Facilities

The Lideta Division of the Federal High Court has moved its civil bench to a rented facility located close to Tor Hailochnear NOC Station. The bench started operations on October…


ECX Brings Two Commodities Onboard

The Ethiopian Commodity Exchange (ECX) is adding two more agricultural products, soybeans and chickpeas, to its trading floor in the next three months, pushing the total number of commodities traded…


TACON-built Gov’t HQs Collapses

A portion of a building under construction at the headquarters of the Federal Government Communications Affairs Office collapsed during concrete-slab pouring. On the afternoon of October 21,2018, in Arat Kilo…


United Welcomes Female Vice President

Tsigereda Tesfaye, acting vice president of credit management at United Bank, has assumed the Bank’s new position of VP for operations, replacing Girum Tsegaye. On October 9, 2018, the National…


Plastic Factory Expands with DBE’s Bolstering

NF Plastic, a subsidiary of Sunshine Group, has undergone an expansion with 17 million Br in investment equipment lease financed by the Development Bank of Ethiopia. The construction of the…


Salt Producers Join Hands to Curb Iodine Deficiency

In a bid to join hands and curb challenges in the industry, close to 15 iodized-salt producing companies have formed an association. The Ethiopian Iodized Salt Producers Association, which was…


Federal Supreme Court Vice President Announced

Prime Minister Abiy Ahmed (PhD) has nominated Solomon Areda as vice president of the Federal Supreme Court. More to come.




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...


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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...




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