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Refining the idea of a refinery

Last week, Zemedeneh Nigatu, Fairfax Africa Fund Global chairman,  blast on the local and international media outlets with his USD 4 billion oil refinery project planned to be located in the central Ethiopia (Awash area), in Afar Regional State.

Authority sues firms for price-gouging

The Trade Practices and Consumer Protection Authority has sued 15 local steel bar producers and importers for jacking up prices following devaluation of the birr in October. 

Orientation given to hoteliers hosting AU summit delegates

Cautioned to refrain from jacking up prices More than 130 hotels at three-star level and above have been identified and given orientation to give priority to delegates coming here to attend the 30th Ordinary Session of the Assembly of Heads of State and Government of the African Union (AU), slated to take place between January 22nd and 30th The Reporter has learnt.

Africom wins bid to digitize judicial system

Africom Technologies, a local company, along with two foreign partners, last week won a bid to undertake a USD-15-million project to digitalize the country’s justice infrastructure— the National Integrated Justice Information System, The Reporter has learnt.

Japan tobacco assigns new CEO

A couple of weeks after the transfer of 30 percent stake belonging to the Ethiopian government in the National Tobacco Enterprise (NTE) SC to Japan Tobacco International, the company has assigned a new Chief Executive Officer (CEO) to spearhead its operation in Ethiopia, it was learnt.

Government backtracks on supplementary budget

Rolling back on its shift made eight years ago while moving from line-item budgeting to program budgeting, the Council of Ministers once again approved a supplementary budget of 14 billion birr this week. The current supplementary budget came for the eighth year in a row since the introduction of the new type of budgeting in the country.

Coffee bags USD 382 mln in 6 months

Having secured a record revenue of USD 882 million last Ethiopian fiscal year, revenue generated from the export of coffee during the first six months of the current fiscal year has regressed to only USD 382 million, USD 54 million shy of the target set – USD 436 million.

Int’l trade union denounces exploitative wages in Ethiopia

The International Trade Unions Confederation (ITUC) slammed the wage rates offered in the budding manufacturing sector in Ethiopia. Launching a minimum wage forum in Addis Ababa on Wednesday, Sharan Burrow, secretary general of ITUC, said that she has met local workers such as “Yeshi”, a mother of three and a clothing factory machine operator who gets paid only 600 birr (equivalent to USD 20) per month which is nowhere near the “minimum livable wage”.