Sunday, June 16, 2024

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Central bank Governor Mamo Mihretu has introduced a series of new rules for the banking industry as he looks to counteract growing credit concentration, guard against banks’ exposure to risky loans, and protect banks from overstating profits by accruing uncollected interest on loans or advances. The National Bank of Ethiopia...

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Ethiopian Airlines inaugurates nation’s largest hotel

Today marked the inauguration of an expansion project that saw the Ethiopian Airlines-owned hospitality establishment, Skylight Hotel, raise its room number to 1,000. The hotel...

Peace deal with OLA concluded with no deal

The Ethiopian government announced today that the first phase of talks with the rebel group operating in Oromia had come to an end. The two...

MIDROC Gold in Hot Water again, denies damaging the environment

Human Rights Watch recommends gov’t to suspend Midroc’s license The largest gold mining company in Ethiopia, MIDROC Gold Mine PlC, refutes a report claiming that...
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Hides consumption for food in West Africa swells Ethiopia’s export

Leather industries are worried Growing demand for Ethiopia's raw hides unlocks new business opportunities for local suppliers, opening up a new stream of export revenue...

Governor anticipates finalizing banking open-up legislation in two months

Officials at the National Bank of Ethiopia (NBE) expect drafting process of the legal frameworks that would allow foreign competition enter the banking sector...

Go digital or no procurement next year: authority warns federal agencies

Cabinet approves draft proclamation to automate public procurement All federal institutions will be authorized to make purchases only through the use of electronic means beginning...
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Legal framework in pipeline to guide investment locations, infrastructure development

A new legislation dubbed the National Spatial Development Framework is underway to guide investments and infrastructure development based on the resources of locations in...

Gov’t maintains 30% excise tax on saturated fat imports

Ethiopia’s Parliament has decided to disregard a proposal to lift excise duties on imported saturated fat, reinstating the item's 30 percent excise rate. The...

Gov’t sets up taskforce to aid Ethiopians, foreigners fleeing Sudan’s conflict

Ethiopian authorities have announced the formation of a taskforce to address concerns about the safety of Ethiopians and foreigners crossing the Ethiopia-Sudan border. In his...
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Schools reopen in Tigray, budget shortage forces subjects cut

Amharic will not be taught in primary schools in Tigray Schools in Tigray's major towns reopened after a two-year hiatus due to the war in...

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