By Birhanu Fikade The amendment made last year on the External Loans and Suppliers’ Credit Directive of the National Bank of Ethiopia has been criticized by local manufacturers for its effect of marginalizing local firms from accessing foreign currency and suppliers’ credit facilities. materials as long as they are exclusively export oriented; however, the move[…]
Somali Prime Minister Hassan Ali Khaire met with his Ethiopian counterpart, Abiy Ahmed in Addis Ababa, the capital city of Ethiopia on Saturday, his office announced. Khaire and Ahmed have discussed on wide range issues regarding the bilateral relations between the two East African neighboring countries. According to a statement posted on the PM’s Twitter[…]
By Kimani Chege Royal Philips, a global leader in health technology, and the governments of Ethiopia and the Netherlands, today signed a seven-year agreement to build Ethiopia’s first specialized Cardiac Care Center to address the critical shortage of cardiology services in Ethiopia. Under the terms of the agreement, valued at approximately Euro 40 million, Philips[…]
Nib International Bank (NIB) inaugurates its newly built five-story mixed-use building in Dukem, Oromia Regional State. The Bank has invested 64 million Br for the construction of the building, which took two years. The new building has different facilities including offices, shops, guest house, café and a bank. Dukem is known for the Chinese built[…]
By Binyam Sisay The hotel is located three minutes away from Bole International Airport Addis Abeba gets an additional local brand hotel, Sherar Addis, that was constructed for a total of 80 million Br. The hotel is located off Africa Avenue. Under construction for the past four years, the hotel was inaugurated and opened its[…]
column By Eyob Tesfaye In the absence of fundamental economic reforms, inertia in economic growth does not carry for too long. Even faster growth brings some negative impacts with it, writes Eyob Tesfaye (PhD), a macroeconomist, urging policymakers to pursue desperately needed reforms. The views reflected here are only his and do not represent any[…]
By Tariku Gashu The terminal worth 2b Br will serve 25,000 people an hour O Bon Voyage Architects & Engineers Consultant, a local consultancy firm, hands over the design of Megenagna Intra-City Public Transport Terminal, which was contracted for 3.38 million Br. To be situated in wereda 08 of Yeka District, the terminal will be[…]
By Binyam Sisay An aggregate of five billion units of capsules and tablets will be produced a year SanSheng Pharmaceutical, a wing of the publicly listed Chongqing Sansheng Industrial Company in China, begins the first phase of production this month amidst a shortage of medical drugs. The pharmaceutical manufacturing plant is located inside the Chinese[…]
By Berhane Hailemariam Employees demanded favourable working conditions and higher pay Labourers working inside the factories of the nation’s first industrial park, Bole Lemi, were on strike for five days starting on May 11, 2018. They are demanding higher pay and a favourable working environment. The strike at the Bole Lemi Industrial Park occurred at[…]
By Neamin Ashenafi The second tripartite high-level ministerial meeting between Ethiopia, Sudan and Egypt was conducted in Addis Ababa on Tuesday. The meeting was concluded after the three countries agreed on major issues that were controversial since the inception of the Grand Ethiopian Renaissance Dam (GERD). The meeting that brought together the foreign ministers of[…]