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Ethiopian parliament has declared three days of national mourning following a deadly landslide in the South Region of Gofa that has killed over 200 people and left hundreds more missing. The landslide occurred on Sunday and Monday in the villages of Kencho and Shacha locality of Gezidi Gofa district in the Gofa Zone. Heavy rains […]

A drug used to treat HIV has proved 100 percent effective at preventing infection in a major clinical trial, researchers say. The trial involved over 5,000 women and girls in South Africa and Uganda. Some were given injections of the drug lenacapavir every six months, others took daily pills. None of those receiving the injections

By Yared Seyoum  The “unusual” board session comes before the IMF has announced reaching a staff-level agreement with Ethiopia. The executive board of the International Monetary Fund is set to meet next week to formally review a new support program to Ethiopia, as the East African nation seeks fresh multilateral financing to address its economic

Awash Bank has announced double-digit profit growth for the recently concluded fiscal year, driven by increased lending that boosted interest income to unprecedented levels. The largest domestic lender reported net profits of 11.6 billion birr for the year ended June 30, 2024, marking an 18.3 percent rise from the previous period. Total revenues jumped by

Eritrea has suspended all flights operated by Ethiopian Airlines to the country over allegations of persistent unfair practices, the Eritrean Civil Aviation Authority announced in a statement published in state-owned newspaper Hadas Eritrea on Thursday. The Authority accused Ethiopian Airlines of “consistent and malicious trading practices” including systematic luggage theft, damage and loss without compensation

Ethiopian Airlines has taken over the management of Gorgora Resort under its Ethiopian Skylight Hotel brand, the state-owned carrier said on Wednesday. The agreement was signed in a ceremony at Ethiopian Skylight Hotel in the presence of Amhara Regional State President Arega Kebede and senior regional officials, as well as Ethiopian Airlines Chief Commercial Officer

Simonpietro Salini, who led Italian construction firm Salini Impreglio which is now known as Webuild, has died in Rome at the age of 92, the company announced on Monday. Salini took over the family business from his father Pietro in 1956 and expanded it internationally, leading projects across Africa in countries like Ethiopia, Sierra Leone,

By Yared Seyoum  Biden, who will turn 81 later this year, is the oldest president in American history. U.S. President Joe Biden said on Sunday he will not seek re-election in 2024, bowing to pressure from fellow Democrats who had raised concerns about his ability to mount another campaign. In a letter posted on Twitter,

Ethiopia’s central bank has relaxed rules to allow domestic lenders to invest directly in capital market services, a move aimed at deepening the country’s nascent stock exchange. Under amendments introduced in a directive issued on Friday, the National Bank of Ethiopia (NBE) will permit banks to acquire up to 100 percent stakes in investment banks,

Ethiopia’s foreign direct investment (FDI) jumped over USD 3.8 billion in the just-ended 2023/24 fiscal year, up 22 percent in the number of projects and 11.5 percent in value, the government said. The FDI figure represents 80 percent of the target set for the year, the Ethiopian Investment Commission (EIC) said. The government issued 329