Ethiopia Forms Committee to Combat Black Market Currency Trading

Ethiopia Forms Committee to Combat Black Market Currency TradingJanuary 13, 2017 - The government formed a special committee under the Prime Minister’s Office to combat the currency trading on the black market and outflow of hard currency from the country, according to Capital. Beside illegal transfers, expats who receive their salary in hard currency and foreigners who come for conferences are the other sources of the black market currency. The committee, established on Monday January 2 will follow seriously the illegal hard currency market, according to Gemechu. Studies indicate that the illegal hard currency market is one of the sources of money for imports. Experts said that the high difference between the legal and black market had never been seen before.

January 13, 2017 21:16 UTC

Ethiopian Police Arrest Commercial Bank Official and Telecom Boss for Corruption

Police have arrested the heads of an Ethiopian telecom company and financial institution on suspicion of corruption. Abrham Guade was arrested on suspicion of corruption and causing loss to government revenue. The telecom official deliberately allowed vehicles manufactured before 2000 to pass the inspection pretending they were manufactured in and after 2000. Guade was arrested on December 27, 2016 and appeared at the second criminal bench of the Federal high court. The suspect argued that he had carried out the purchase based on the instruction he was given by management of the bank.

January 13, 2017 17:23 UTC

Madagascar to join Ethiopian’s vast Intra-African Network

Africa’s largest airline group, Ethiopian Airlines will add Antananarivo, Madagascar to its network on 28 March 2017. Madagascar will join the ever expanding Ethiopian network of 95 worldwide destinations. Group CEO Ethiopian Airlines, Mr. Tewolde GebreMariam, said: “Ethiopian, as a flagship carrier of Africa, is pleased to add Madagascar to its wide route network. Moreover, travelers from Madagascar will be seamlessly connected with Ethiopian ever-expanding network across five continents. For more information about Ethiopian Airlines, visit www.ethiopianairlines.com.

January 13, 2017 14:55 UTC

Tensions resurface in Ethiopia's Amhara region following hotel attacks blamed on 'anti-peace forces'

The Ethiopian government has blamed "anti-peace" forces for a grenade attack that killed one and wounded dozens in the northern city of Gondar on 10 January. Both attacks have sparked renewed tensions in the Amhara region, which was rocked by months of anti-government protests in 2016. Protests erupted when members of the Welkait Tegede, who identify themselves as ethnically Amhara – Ethiopia's second largest group – demanded their lands be administered by the Amhara region, instead of the Tigray state. However, Prime Minister Hailemariam Desalegn has always maintained security forces had not reacted disproportionately and security forces intervened to quell violence carried out by "anti-peace" instigators. The government, which often blamed "outside forces" including from Eritrea and Egypt for the protests, said it would use the new measures to coordinate security forces against elements that aimed to destabilise the country.

January 13, 2017 12:31 UTC

Ethiopia Has More Oil Than You Think

Poly-GCL, one of the companies engaged in natural gas exploration in Ethiopia, has so far drilled five deep gas wells around Calub and Hilala areas at the Ogaden basin. The company had officially started yesterday the drilling of the 6th gas well-called Hilal-7, in the presence of Motuma Mekassa, Minister of Mines, Petroleum and Natural Gas and La Yifan, Chinese Ambassador to Ethiopia. In an interview with EBC, Motuma Mekassa said the country will begin extracting natural gas after three years. “Unlike the other drillings, the digging at Hilal-7 is special as it took into consideration exploration of both petroleum and natural gas,” the minister added. Calub, Hilala Genale areas have 4.7 trillion cubic feet of natural gas deposits.

January 13, 2017 07:57 UTC



Ethiopian to link Chengdu with Africa

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January 13, 2017 06:29 UTC

Ethiopia state of emergency has full public backing – PM tells MPs

Ethiopians are fully in support of the current state of emergency which is being observed in the country according to Prime Minister (PM) Hailemarian Desalegn. He alluded further that its success was because it earned the full backing of the public across the country. We have also good relations with both South Sudan and Somalia. Ethiopia continues to accuse some of its neighbours of being behind anti-government protests that started late 2015 and continued into 2016. We have also good relations with both South Sudan and Somalia,” he added.

January 13, 2017 02:01 UTC

Almaz Ayana Listed for Top Sports Award

Almaz Ayana Listed for Top Sports AwardJanuary 12, 2017 - Ethiopia’s Almaz Ayana has been nominated for yet another sports award following her exploits at the just ended Olympic Games in Rio. Ayana has been named in nominations for the Laureus World Sports Awards 2017 in the Laureus World Breakthrough of the Year Award category. She has keen competitors in the category among others, fellow Olympic gold medalist, South Africa’s Wayde van Niekerk and Formula One World Championship contestant Nico Rosberg. Ayana was recently named the female World Athlete of the Year at the International Association of Athletics Federation’s Athletics Awards 2016, held at Sporting Monte Carlo. Jamaican Usain Bolt was named winner in the men’s category.

January 13, 2017 01:08 UTC

Joint Venture Agreement Signed to Establish Ethio-Djibouti Railway Company

Joint Venture Agreement Signed to Establish Ethio-Djibouti Railway CompanyJanuary 12, 2017 - Ethiopia and Djibouti have signed a joint venture agreement to establish a company that will manage the newly built Ethio-Djibouti railway, according to FBC. The agreement was signed yesterday in Djibouti by Ethiopia’s Minister of Transport, Ahmed Shide and Djibouti’s Minister of Transport and Finance. The accord signed yesterday is part of the agreement signed recently between the two countries for the establishment of a joint company. Present at the signing ceremony were also Dr Girma Amente, Ethiopia’s Minister of Public Enterprise as well as heads of Ethiopian and Djibouti railway corporations, Dr Engineer Getachew Betru and Mr Mohmoud, respectively. (FBC)Back

January 12, 2017 20:01 UTC

Ethiopia Will Cement Relationships with Neighboring Countries - PM

Ethiopia Will Cement Relationships with Neighboring Countries - PMJanuary 12, 2017 - Prime Minister Hailemariam Desalegn said his government will strengthen its bilateral relations with neighboring countries, according to FBC. The Premier gave today explanation for questions raised by members of the parliament (MPs). It is a big success to finalize the Ethio-Djibouti railway within four and a half years. The Construction of the Grand Ethiopian Renaissance Dam (GERD) has also reached at 58 percent, the Premier told the MPs. The delay in sugar projects is resulted from the problem in planning initially to build 10 factories at the same time and lack of capacity of contractors, especially Indian contractors.

January 12, 2017 20:01 UTC

Ethiopia: Year of Brutality, Restrictions

(Nairobi) – Ethiopia plunged into a human rights crisis in 2016, increasing restrictions on basic rights during a state of emergency and continuing a bloody crackdown against largely peaceful protesters, Human Rights Watch said today in its World Report 2017. Expand Ethiopian security hold back demonstrators chanting slogans during Irreecha, the thanksgiving festival of the Oromo people, in Bishoftu town, Oromia region, Ethiopia, October 2, 2016. Many of those who were released reported that they were tortured in detention, a longstanding problem in Ethiopia. The government needs to restore basic rights and engage in meaningful dialogue instead of responding to criticism with more abuses.”In the 687-page World Report, its 27th edition, Human Rights Watch reviews human rights practices in more than 90 countries. In response, angry youth destroyed private and government property, particularly in the Oromia region.

January 12, 2017 15:19 UTC

Ethiopian Airlines Records Impressive Growth

Business News of Thursday, 12 January 2017Source: dailyguideafrica.comEthiopian Airlines Records Impressive GrowthTewolde GebreMariam, Group Chief Executive Officer, Ethiopian AirlinesTewolde GebreMariam, Group Chief Executive Officer (CEO) of Ethiopian Airlines, has stated that 2016 was an exceptionally challenging year for the African aviation industry. The CEO said Ethiopian Airlines added eight aircraft to its fleet in 2016 and closed the year with 82 airplanes in service. “For the first time in its history, Ethiopian Airlines has diversified to include Airbus aircraft, with Africa’s first A350. With an average fleet age of just five years, Ethiopian has one of the youngest and most modern fleet in the world,” Mr GebreMariam added. “We wish to thank our valued customers for their continued vote of confidence in our services and for making Ethiopian their airline of choice,” he said.

January 12, 2017 13:39 UTC

Italy : Italy to partake in Ethiopian textile machinery expo

An Italian textile machinery delegation is set to participate at the upcoming multi-industry Addis Chamber International Trade Fair (ACITF), showcasing products from business services, gifts & handicrafts, industrial products, plant, machinery & equipment industries, to be held in Addis Ababa exhibition centre, Ethiopia, from 23 February to 1 March 2017.Ethiopia is an emerging production hub for the global textile and garments industry. Cheap labour costs, free trade agreements with major Western markets and a constantly growing economy (with a forecast GDP of 10 per cent for the coming years) have made this Sub-Saharan African country a choice destination for the manufacturing of garments by major industry retailers.The 21st edition of the multi-industry ACITF trade fair will feature a delegation of Italian textile machinery manufacturers at the Italian pavilion organised by the ICE-Agency. The ACIMIT associated members partaking in the event include Carù, Corino, Fadis, Ferraro, Itema, Marzoli, Mei, Reggiani, Roj, Salvade, Savio, Sicam, and Simet.ACIMIT president Raffaella Carabelli said, “Our exports have grown significantly over the past five years, although their overall value remains quite modest (4.4 million in 2015). The quality of our machine technology is superior to that of our competitors currently operating in this market. (GK)Fibre2Fashion News Desk – India

January 12, 2017 05:14 UTC

Did listening to Yegna REALLY stop 40,000 Ethiopian girls getting married too early?

The DFID British Aid funded girl band, 'Yegna' dubbed the Ethiopian 'Spice Girls', have been given £9.2 million to change Africa though ‘girl power’Geldof, who calls himself a ‘private equity whore’, is here for business, not charity. Tell that guy to respect girls and we will respect him.’Like the original Spice Girls, the band members were each given a nickname. Incredibly, the publicity is handled by Freuds, the high-powered London-based PR firm headed by the media figure Matthew Freud (ironically enough, he also acted for the Spice Girl Geri Halliwell). All of which raises more questions as to why British taxpayers were subsidising an Ethiopian girl band for four years. A source involved in Yegna productions — the girls also appear in radio dramas designed to change attitudes among young girls — cast doubt on the figures.

January 12, 2017 00:11 UTC

Ethiopian Israelis will be able to donate blood without restrictions

Ethiopian Israelis will be permitted to donate blood without restrictions. The new Health Ministry rules will take effect on July 1, Haaretz reported Tuesday, citing the Magen David Adom ambulance service. Blood donations from Ethiopian-born Israelis have been banned since 1977. The ministry also changed the rules for blood donations from homosexuals and those older than 65. Tamano-Shata was told subsequently that she could donate, but the blood would be frozen and never used.

January 11, 2017 09:30 UTC



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