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Metal manufacturers struggle to survive

Metal and engineering industries have expressed their concerns that many manufactures will likely be forced to close shops due to lack of access and shortage of foreign currency to import raw materials, while traders have the flexibility to import finished metal and engineering products.

Bracing for competition

The national telecom company, Ethio Telecom, has projected to generate a total revenue of 55.5 billion birr in the 2020-2021 budget year.

Economic expert projects negative GDP growth

Alemayehu Geda (PhD, Prof), a prominent economist, has painted a dire look at the economic growth set for the new fiscal year, predicting it will further contract and even dip into negative 2.7 percent.

Ethiopian banks struggle to process L/C contracts

A severe shortage of foreign exchange, that has plagued the economy so far, has further led to banks struggling to find international go-between/correspondent banks to process payments in Letter of Credits (L/C), The Reporter has learnt.

Five state enterprises bag 790 mln birr profit

Five state-owned enterprises under the supervision of the Public Enterprises Holding and Administration Agency, have earned a combined profit of 792 million birr in the last fiscal year, the agency announced this week.