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DBE to foreclose on Ayka Addis

The Development Bank of Ethiopia (DBE) is to foreclose on the bankrupted Turkish textile company – Ayka Addis Textile & Investment Group – in the coming one month, The Reporter has learnt.

Dreams of an “African Singapore”

When Eritrea separated from Ethiopia in 1995, it was not welcomed by many Ethiopians.To be honest the eventual consequence of the decision which was poised to leave Ethiopia landlocked was one of the biggest factors behind Ethiopia’s anxiety.

Minister of Revenue launches campaign

Assuming the leadership of the newly restructured Minster of Revenue for about two months now, Adanech Abebbe appears to be steadfast in fighting tax evasion and fraud disrupting the overall economic system.

Local entrepreneur buys Hayat Hospital

Hayat Hospital & Medical Plc, one of the first privately owned hospitals in the country, has been sold to a local entrepreneur,DinkuDeyasa – the owner of Rift Valley University. Opened 20 years ago, the hospital was owned by Ibrahim Nawd, 81, who transitioned from operating a nearby hotel to owning one of the biggest hospitals in the country.

Hotels recoveringfrom SoE impact

Two years afterthe decree of the first State of Emergencies (SoE) in 2016, both local and global brand hotels are gradually regaining their pre-SoE markets, said Addis Ababa Hotel Owners Association this week. 

IFC guarantees Ethiopia’s import bills

The International Finance Corporation (IFC), best known as the private sector arm of the World Bank Group, has inked agreements to guarantee Ethiopia’s global trade, mostly involving import bills.

Coffee exporters grapple with cargo pilferage

A systematically orchestrated coffee cargo pilferage destined for export market has become a trend in the export business with at least six exporters reportinga loss of some 150 quintals from sealed containers, The Reporter has learnt.