ADVERTISINGIt has also lent or committed almost $4 billion to three FLNG schemes off the African coast. The only operational FLNG project launched in Malaysia last year, with construction of the floating platform costing around $1.6-$1.7 billion. This month, Chinese banks including Industrial and Commercial Bank of China, and Bank of China committed around 1.75 billion to project finance the Coral South FLNG project in Mozambique, bankers said. AFRICA AND BEYONDThe next big African deal, in Equatorial Guinea, is being financed by China State Shipbuilding Corp with a $1.2 billion loan for Fortuna FLNG, bankers say. Equatorial Guinea sees scope for another two FLNG projects, its petroleum minister has said, while BP and joint venture partner Kosmos Energy are also eyeing two in the waters of Senegal and Mauritania.
June 27, 2017 00:56 UTC
Source: Xinhua| 2017-06-27 02:03:16|Editor: huaxiaVideo Player CloseADDIS ABABA, June 26 (Xinhua) -- The Ethiopian Meteorology Agency on Monday warned farmers across the country over the prospect of above-average rainfall in the coming days which could affect crops. The agency through its announcement indicated that the above-average rainfall would threaten the safety of agricultural crops in some cereal producing regions of the country during the upcoming five days. As the country is still facing below-average rainfall, the Ethiopian Meteorology Agency recommended farmers and institutions to take water-saving measures during the coming days so as to combat the long-term impact of the drought. Primarily spotted in Ethiopia in late February 2017, the insect has been rapidly expanding its presence over the past three months. The Ethiopian Meteorology Agency has cautioned that the unexpected above-average rainfall could also create favorable conditions for others pests to emerge and advised close monitoring.
June 26, 2017 18:11 UTC
MOSCOW (Sputnik) — He called such behavior perilous and called for it to be stopped for the sake of the fight against terrorism in Syria. "We consider it a very dangerous game that should be stopped, and all the double standards or some ulterior thoughts should be set aside for the sake of uncompromising fight against terrorism," the minister said. In July 2016, al-Nusra Front declared that it had changed its name to Jabhat Fath al Sham and ceased all affiliation with any external entities. Russia has repeatedly called for the separation of armed Syrian opposition from terrorists. Moscow has also denounced US deliveries of weapons to groups with possible connections to terrorist organizations and accused Washington of mixing anti-terror activities with geopolitics.
June 26, 2017 17:26 UTC
Source: Xinhua| 2017-06-27 00:52:35|Editor: Mu XuequanVideo Player CloseADDIS ABABA, June 26 (Xinhua) -- Ethiopia's Minister of Foreign Affairs Workneh Gebeyehu on Monday asserted the need to strengthen the long-standing cooperation between Ethiopia and Russia. The two foreign ministers have discussed bilateral and international issues of mutual interest as well as ways to strengthen their cooperation in many sectors, including infrastructure, trade and other economic spheres. Gebeyehu, who invited Russian companies to invest in the east African country, further noted that Ethiopia's mining and energy sectors would be good opportunities for Russian companies. Russian company, Inter RAO-Export, has recently expressed its interest in the construction and modernization of hydroelectric stations in Ethiopia, while another Russian oil and gas company, GPB Global Resources, is already exploring hydrocarbons in the eastern part of Ethiopia. The two countries, as part of their push to strengthen their cooperation, have recently signed a Memorandum of Understanding (MoU) on scientific and technical cooperation, including the peaceful uses of nuclear energy.
June 26, 2017 17:03 UTC
On June 26, Foreign Minister Sergey Lavrov held talks with the Minister for Foreign Affairs of the Federal Democratic Republic of Ethiopia Dr Workneh Gebeyehu, who is in Moscow on a working visit. The two ministers praised the traditional friendly relations between Russia and Ethiopia, and mutually beneficial cooperation in various areas, confirming their shared commitment to step up trade and economic ties with a focus on the implementation of large-scale joint projects in Ethiopia, including in the energy sector, extraction of minerals and the development of infrastructure. They also highlighted the importance of relying on mechanisms provided by the Intergovernmental Russian-Ethiopian Commission on Economic, Scientific, Technical and Trade Cooperation, and the mutual interest in the promotion of ties in the field of education, science and high technology. Mr Lavrov and Dr Gebeyehu had a detailed discussion on the topical international and regional issues, including conflict settlement in Africa, and examined the situation in the Horn of Africa, Somalia, South Sudan, the Sahara-Sahel zone, and in the Great Lakes Region. Both Russia and Ethiopia strongly believe in the importance of consolidating international efforts to combat terrorism with the UN playing a central coordinating role.
June 26, 2017 16:41 UTC
Ethiopia makes a compelling business case for us to serve global customers faster at a competitive price. It mitigates export risk and catapult Raymond among top five leading suit makers in the world. Having said that, we are committed to ‘Make in India’ and been manufacturing here since 1925. As a white label-integrated supplier to leading international brands, we make garments for export to the US, Europe and Japan. It permits Raymond to promote sale of Khadi products and forge links with established marketing agencies through the PPP mode.
June 26, 2017 16:41 UTC
Source: Xinhua| 2017-06-26 23:57:01|Editor: Mu XuequanVideo Player CloseADDIS ABABA, June 26 (Xinhua) -- The 29th Ordinary Session of the Summit of the African Union (AU) will kickoff at the AU headquarters in Ethiopia's capital Addis Ababa on Tuesday. The 29th summit, which will take place from June 27 to July 4, will be held under the theme "Harnessing the Demographic Dividend through Investments in Youth." The PRC meeting is expected to prepare the agenda of the AU Summit with appropriate recommendations for consideration by the Executive Council, which is scheduled to take place from June 30 to July 1. The Permanent Representatives' Committee meeting will bring together all the Ambassadors of the 55 AU member states based in Addis Ababa and other key AU officials, the AU Commission announced. The main event of the summit, the 29th Ordinary Session of the Assembly of the Heads of State and Government of the African Union, is expected to take place from July 3 to 4.
June 26, 2017 16:07 UTC
Source: Xinhua| 2017-06-26 23:46:58|Editor: huaxiaVideo Player CloseADDIS ABABA, June 26 (Xinhua) -- The Ethiopian Mines, Petroleum and Natural Gas (EMPNG) is to establish five gold trading centers across the country to combat contraband gold trade. The information was given on Monday by EMPNG artisanal mines production support directorate director Jigsa Kidane who also says the new centers will help in cutting long distance that artisanal miners had to travel to sell their gold find and thereby legalizing artisanal gold mining trading. Ethiopia earned 74 million U.S. dollars from gold exports for the 11 months of Ethiopian fiscal Year (EFY) 2016-2017 ending in May. The revenue was smaller by half from the same period last year EFY 2015-2016, when Ethiopia earned 150 million dollars from gold exports. The Ethiopian government blamed primarily contraband gold trading for the decrease in gold exports revenue.
June 26, 2017 15:56 UTC
But Ethiopia's economy is booming. The country has experienced an average economic growth of 10.8 percent per year in the past decade and it's expected to overtake Kenya soon to become East Africa's largest economy. "Ethiopia will overtake Kenya because the government is making large-scale investments and goods are being produced locally," he says. In addition, prosperity doesn't necessarily go hand-in-hand with economic growth, Diale-Schellschmidt warns. "Everyone benefits from the infrastructure, but economic power is the hands of a certain minority," says Diale-Schellschmidt.
June 26, 2017 14:48 UTC
An acute humanitarian emergency is unfolding in Doolo zone, in Ethiopia’s Somali region, as malnutrition reaches alarming levels, warns international medical organisation Médecins Sans Frontières/Doctors Without Borders (MSF), whose teams are working in Doolo zone, the worst affected area. MSF teams, working alongside Ethiopian health authorities, have set up 27 outpatient therapeutic feeding centres and four inpatient therapeutic feeding centres to treat children with severe malnutrition. In Danod, Lehel-Yucub, Wardher, Galadi and Daratole, MSF teams have treated 6,136 children under five for severe acute malnutrition since January. In the first two weeks of June alone, 322 severely malnourished children were admitted in the four inpatient feeding centres supported by MSF. In conjunction, humanitarian organisations need to send teams and supplies to the hardest-hit areas to prevent the crisis from escalating further.
June 26, 2017 14:03 UTC
Ethiopian Airlines has signed a $ 1.5 billion agreement with British engine maker Rolls Royce. The company added 10 new Airbus A350-900 aircraft to its fleets. As part of the agreement, the 10 new Ethiopian aircrafts will be equipped with Rolls Royce Trent XWB engines. The agreement between Ethiopian Airlines and Rolls-Royce also includes engine maintenance plan for 14 of ET’s aircrafts already in use. Despite becoming the first African carrier to operate the A350 aircraft in June 2016, Ethiopian Airlines hopes to expand its network of destinations with these new aircrafts.
June 26, 2017 12:22 UTC
Moscow is interested in boosting cooperation with Addis Ababa in various fields, Russian Foreign Minister Sergey Lavrov said opening talks with his Ethiopian counterpart Workneh Gebeyehu on Monday. "We are willing to boost our cooperation in all fields," he added. "High-level contacts have been continuing and even growing recently," Lavrov added. Last year, an Ethiopian delegation headed by Deputy Prime Minister Mr. Mekonnen visited Russia, besides, we also received your predecessor last year," the Russian foreign minister said. "This means that our dialogue has become a tradition, it covers bilateral issues, as well as global and regional ones," Lavrov pointed out.
June 26, 2017 09:33 UTC
Ethiopia Coach Blames Goalkeeper for Team’s LossJune 26, 2017 - After the Walias returned home, the football governing body summoned the coaching staff last week to explain what went wrong in the match against the Black Stars. Ashenafi told the EFF officials that Mamo's poor performance was the main factor that led to the embarrassing defeat. Ashenafi’s latest report contradicted what he has said earlier with regards to the match. According to a statement Ashenafi issued to a local sports radio show, Sport Zone, which airs on Fana FM 98.1, he himself would take the responsibility for the bitter loss against Ghana. Source: Ghana Soccer netBack Print
June 26, 2017 08:48 UTC
The Ethiopian government says it is ready to host the 29th Ordinary Session of the Assembly of the Heads of State and Government of the African Union (AU). Leaders from across the presidents are expected to fly into the country for the two-day summit as Addis Ababa hosts the highest decision making organ of the AU. A joint press conference by the Ministry of Foreign Affairs and Addis Ababa city authorities disclosed that all the necessary facilities needed for the summit and also security preparations have been completed. Under the theme “Harnessing the Demographic Dividend through Investments in Youth,” the Summit is expected to take place between 3rd – 4th July 2017 at the AU headquarters in Addis Ababa. At the 28th AU Summit held in January this year, A new Chairperson for the African Union Commission (AUC) in the person of Chadian, Moussa Faki Mahamat was elected, the other major highlight was the readmission of Morocco to the continental bloc after over three decades out.
June 26, 2017 05:03 UTC
Source: Xinhua| 2017-06-26 02:50:50|Editor: yingVideo Player CloseADDIS ABABA, June 25 (Xinhua) -- Ethiopian Muslims on Sunday celebrated Eid al-Fitr, the end of the fasting month of Ramadan, with recognition of and calls for peaceful coexistence. Muslims in Addis Ababa gathered early in the morning at the national stadium to celebrate the day with prayers. During the celebration, Ethiopian Islamic Affairs Supreme Council President Sheikh Muhammad-Amin Jamal Omar noted that Ethiopia is a multi-religious country featuring peaceful coexistence and urged Muslims to strengthen this unique culture. He also called on the Muslim community to play their role in ensuring peace and stability in the country and enhance their engagement in the country's economic growth. Moreover, he called on Ethiopians citizens living in Saudi Arabia to return home before the end of the 90-day amnesty period, which will end after few days.
June 25, 2017 18:56 UTC