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Wednesday, July 24, 2024

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The Ethiopian Airlines Group has confirmed that Eritrean aviation authorities have issued a notice of suspension for all flights to Eritrea beginning September 30, 2024. The Group says it received a letter from the Eritrean Civil Aviation Authority informing it of the suspension earlier this week, but that it is...

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New ‘Financial Service Code’ to fully liberalize financial sector

Justice ministry, bankers split over codification work plan A new steering committee is in action to amend Ethiopia’s half a century old financial code. The...

Nexus hotel re-opens, acquisition process remains incomplete

Tilksew Gedamu agreed to pay 740 million birr to acquire the hotel Nexus Hotel has resumed providing its services after it was shut-down by Authorities...

Instability deters Oromia mining projects, substitution of coal imports

Oromia Mining SC is unable to kick-off its operations as instability continues to prevail in surrounding areas of its mining sites in Oromia regional...
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Chinese contractor to resume Multi-Story parking lot construction, despite doubling of budget

The cost of the project doubled to one billion Br The building of a five-story modern vehicle parking garage near Shola Market is slated to...

Macroeconomic woes push Ethiopia to suspend ethio telecom privatization

Insiders linked the decision with planned revaluation of its assets The Ministry of Finance postponed privatizing a 40 percent stake in Ethio telecom for an...

New breed regional conglomerates replicating EFFORT

On the flip side of Ethiopia’s ethnic-based party rivalries lies the competition to tap into economic resources. Needless to say, businesses succeed when run...
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France to evaluate the impact of war in North Ethiopia

Following a request made by the federal and regional governments of Ethiopia, France is under preparation to study damages caused by the year-long war...

Hundreds of civilians killed in the last four months of Tigray war, EHRC report

Banks have lost 346 branches, billions of birr A war in North Ethiopia led to the killings of hundreds of civilians in Afar and Amhara...

Soaring fuel price necessitates formation of new team

 Fuel import bill might surge by 50% The National Bank of Ethiopia (NBE) is under preparation to conduct a study on the implications of international...
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Sheger Bread loses 350k birr for every million loaves of bread

It declared 70 million birr in losses in the first five months of production City Admin subsidizes over a billion birr in first six months...

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