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Rebar procurement draws complaint from manufacturers

A recent procurement bid for reinforcement bars, issued by the Ethiopian Construction Works Corporation (ECWC), has infuriated industry players as the state run corporation imports thousands of tons of metal products, while only intending to buy a few kilograms of rebar, locally.

Stirring the macroeconomy

Planned and executed in the utmost secrecy under code name Project X, the core macroeconomy team of Prime Minister Abiy Ahmed (PhD) has been busy this week implementing a massive currency demonetization and injection of the new banknotes and 200-birr denomination through the nation’s banking system.

Demonetization may spell macroeconomic danger, EEA

The Ethiopian Economics Association (EEA) said on Thursday that the introduction of new banknotes and denomination into the monetary system might cause a shift in deposit preferences towards holding currency instead of depositing in the bank.

New Year's blistering market

Holidays often bring with an abounding sense of new beginnings and opportunities that make us look forward to the days longingly. Overseeing the coming holiday and preparing the cultural feast and extravaganza, however, is bound to make people feel the pinch in their pockets.

On Guard

In an unusual show of force, Prime Minister Abiy Ahmed’s (PhD)new elite force—The Republican Guard— displayed military equipment, armor and skills at the inauguration of the 2.5-billion-birr Sheger Park, located off Lorenzo Te’azaz Street, on Thursday. Part of the 29-billion-birr initiative to beautifying Addis Ababa, the inauguration of the Park, which houses the Brethren Square, rather appeared more of a military parade and show of force than an event to mark the completion of a project that was constructed and partly financed by Chinese companies and the government.

We are Prosperity – call us by our name: Abiy Ahmed

Irritated Prime Minister Abiy Ahmed (PhD) debunked a passing remark by the prominent insurance and finance guru Eyesuswork Zafu during a telecom sector liberalization and ethio telecom privatization discussion when the latter referred to the PM’s party as EPRDF-2. Eyesuswork said that he usually calls the ruling party EPRDF-2 while commenting on the issues of privatizing ethio telecom and liberalizing the telecom market that was unanimously decided by the Ethiopian Peoples’ Revolutionary Democratic Front (EPRDF) two years ago.

African CEOs decry WTO systems as unfair

A survey commissioned by the Pan-African Private Sector Trade and Investment Committee (PAFRAC) and conducted by the African Business magazine in partnership with Afrexim Bank, has revealed that African CEOs are explicitly calling for a fairer system in the global trade.

Road traffic accident drops by 10 percent

Following the nation-wide road safety awareness campaign launched by the Ministry of Transport (MoT)   number of deaths caused by road accident in Ethiopia is reported to have dropped by 10.09 percent, although the overall problem is still at a crisis level, The Reporter learnt.