United’s Deal to Insure Domestic Workers Faces Protest


Seven insurance companies are protesting the recent award given to United Insurance to provide coverage to an estimated one million domestic workers traveling to the Middle East. The companies lodged…


The Consumer Continues to Pay the Price

Some good things have come out of policies directed to achieve the Growth & Transformation Plans, evident in the foreign direct investment the nation attracts. But there have also been…


Abay Bank Emerges with Outstanding Performance

Abay Bank reported a 66pc rise in its net profits, which reached 317 million Br during the last fiscal year. Shareholder return also reached 284.2 Br a share, a 19.2pc…


Staff Sue Abay Radio For Unpaid Salaries

Employees of Abay FM Radio, one of the 12 private radio stations, took the company to court by claiming unpaid salaries since September. Filed on October 30, 2018, at the…


Suspects of Corruption Probe, Alleged Human Rights Abuse Appear Before a Judge as Late as 9pm

A Court has denied 64 suspects the right to bail when federal police brought them before a federal judge at the 10th Criminal Bench of Lideta Division, as late as…


Fed Begins High Level Probe on Corruption Allegations

Police have arrested 63 individuals, 27 of which are suspected of alleged corruption, Berhanu Tsegaye, the attorney general, confirmed at a press briefing broadcast live today. The entire investigation took…


FOR WOMEN AND PEACE

Dagmawit Moges (left), minister of Transport, and Ergoge Tesfaye (PhD), minister of Labour & Social Affairs, were at the headquarters of the Economic Commission for Africa on November 5, 2018,…


Central Bank Lifts Principal Payments on Arrears

The National Bank of Ethiopia lifted some rescheduling, restructuring or renegotiation of outstanding loans. The governing bank also released a new loan portfolio scheme for commercial banks. With the amendment,…


House Stands Ground on Standing Committee Chairpersonship

Parliament elected eight MPs to chair standing committees during its Friday, November 9, 2018, session. While rejecting the nomination of two, the legislative body elected women to head half of…


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,…




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

Egyptian companies are about to sue the federal government over their i...


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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