The headquarters of Addis Abeba Municipality, the landmark of the capital city, renovated for 2.2 billion Br. It is a project initiated during the tenure of Takele Uma, who was a mayor of the capital for almost two years before being replaced by Adanech Abiebie in 2020. The project has been officially inaugurated by Mayor […]
Municipality HQ Renovated for 2.2 billion Br Read More »
United Bank, one of the first-generation financial institutions since the liberalization of Ethiopia’s economy three decades ago, Inaugurates its 2.7 billion Br worth headquarters in the financial district. With 37 storeys, United is the latest to join banks, including Dashen, Zemen and Nib, that have completed the construction their headquarters in the district, which is
Ethiopia’s United Bank Inaugurates 2.7 billion Br Worth Skyscraper in Financial District Read More »
The banking industry welcomes 2022 with a good news as the National Bank of Ethiopia lifted the transfer limit placed since early 2021. The five-time a week transfer limit was meant to discourage the parallel exchange market, which was believed to be characterised by high number of bank transfers. Commercial banks welcomed the decision, hoping
Transfer Limit Lifted, Bank Rejoice Read More »
Ethio Sugar Manufacturing Industry, a share company involved in agri-business, acquires an Agro-processing plant in Hamer, Omo Zone, for 214 million Br. Ethio Sugar acquired the plant, sprawled on 10,000 hectares of land, from the Development Bank of Ethiopia after the latter foreclosed the Agro-processing company last year. Ethio Sugar plans to plant sugarcane on
Ethio Sugar Acquires Agro-processing Company in Hamer Read More »
Ethiopian Airlines to resume daily flights to Dessie and Kombolicha, towns that were recently liberated from the forces of the Tigray People Liberation Front following a military operation led by Prime Minister Abiy Ahmed (PhD). It will start flying to the two towns beginning from January 05, 2022. Yesterday, Ethiopian resumed flying to Lalibela after
Ethiopian Airlines to Resume Flights to Dessie, Kombolicha Read More »
The tourism sector received some welcome news lately after government’s homecoming campaign for the diaspora community bear some fruit and the UK removed Ethiopia from its travel red list. Though it remains to be seen whether the latter will prompt many disappointed international travellers to renew their bookings, many diasporas are making a comeback to
Ethiopia’s Hospitality Industry Sees Ray of Hope Read More »
Ethiopia wheat production for marketing year 2021/22 is estimated at 4.8 million metric tons, down 300,000 tons (six percent) from last year, according to the forecast of United State Department for Agriculture. Yield is estimated at 2.74 metric tons per hectare, down 1 percent from last year and down 1 percent from the 5-year average,
Conflict Reduces Ethiopia’s Wheat Harvest Prospects Read More »
The federal government adjusted profit margin for businesses involved in the distribution and sales of petroleum products.
Gov’t Adjusts Profit Margins for Oil Suppliers, Dealers Read More »
Ethiopian Re, the first local private reinsurer, announced it has managed to underwrite nearly 20 million foreign business in the last financial year. It is the first time when the local reinsurer secured a business from foreign sources. During the first and second years of operation, the company was able to receive more than 80
Ethiopian Reinsurance Underwrite its First Foreign Business Read More »
Ethiopian Airlines plans to resume flying Boeing 737 MAX planes, with its first flight scheduled to be on February 2022. This comes as aviation companies across the world add 737 max back into their schedules. The aircraft was grounded worldwide on March 13, 2019, after two crashes, one in Indonesia in 2018 and the other
Two Years After Grounding, Ethiopian Airlines Decided to Fly Boeing 737 Max Planes Read More »
