Wednesday, February 21, 2024

Tag: Forex

Federal police raid fronts for black-markets

The Addis Ababa Federal Police has raided the foreign exchange black market shutting down all suspected stores located around Gandhi Hospital and Ethiopia Hotel. The stores, believed to do the illegal business,have been shut since late last week and are now guarded by the police to prevent from evidence tampering.

Canada to support study on Lega Dembi Gold Mine

The Canadian Embassy in Addis Ababa is going to finance the environmental impact assessment on the controversial Lega Dembi Gold Mine run by MIDROC Gold.

Minerals export fetches an all-time low USD 130 million

The minerals export earnings, which has been declining in the past consecutive years, fetched an all-time low revenue of USD 130 million in the 2017-2018 fiscal year that ended last June. 

Manufacturing export misses target

The local manufacturing sector exported less than 50 percent of the plan set in the export target in the 2017-2018 fiscal year.

Addressing diaspora trust fund issues

Many agree that the country’s current foreign currency crunch is in dire need of creative solutions as it has reached chronic level. In fact, it is critical now that the country is facing difficulty in importing lifesaving medication like insulin.