Maryam Cockar Sharecast | 06 Feb, 2017 08:53 | | |Fashion manufacturer Bagir Group is to buy the remaining 50% stake in Nazareth Garments, the joint venture owner of its manufacturing site in Ethiopia, for $1.9m in order to consolidate its presence in the country which it believes has strategic advantages due to its duty-free export status. Over the next five years, the company intends to invest and expand Nazareth Garments further. The £1.9m will be paid in instalments, with $600,000 being paid on signing of the agreement and the $1.3m balance will be be paid on or before 30 April. For the year ended 31 December 2015, Nazareth Garments generated revenue of $1.38m and profit after tax of $590,000. Shares in Bagir Group were up 1.75% to 4.07p at 0801 GMT.
A vast dam – one of several enormous hydroelectric power projects guaranteeing cheap electricity – and a new railway from the capital Addis Ababa to Djibouti, the Red Sea port 750km away, opened in December. The national airline – once shunned – now flies new aircraft daily to destinations across south and east Asia, turning Ethiopia into an intercontinental hub. In the new commodities exchange in Addis Ababa, prices for coffee flash across an electronic display on one wall. Hailemariam grew up in Addis Ababa but spent years training with Paul Bocuse, an internationally renowned French chef, in Lyon before working at top restaurants in California. I knew it would be a challenge to come from the diaspora and be seen as an Ethiopian chef.
Management of Africa’s largest airline group, Ethiopian Airlines has announced plans to launch seven new destinations within five months this year. “From February to June, Ethiopian will launch new service to Victoria Falls (Zimbabwe), Antananarivo (Madagascar), Conakry (Guinea), Oslo (Norway), Chengdu (China), Jakarta (Indonesia) and Singapore (Singapore),” Group CEO Ethiopian Airlines, Mr. Tewolde GebreMariam told Citi Business News. Mr. GebreMariam explained that with the addition of these stations, Ethiopian will have service from Addis Ababa to 98 different international cities located across the world. He was of the view that the expansion will give the African country an encouraging growth in the aviation industry. Ethiopian envisages to reach 120 international destinations worldwide by the year 2025,” he said.
is adding cargo and passenger service to Ahmedabad and Chennai and increasing its capacity to as a part of its expansion in India. It plans to introduce thrice weekly Addis Ababa-Chennai service later this year and upgrade it's operations from existing 737 service to 767 and 787 service adding 100 seats on the route. "We are expecting 15 per cent increase in passenger traffic and 6-8 per cent growth in cargo traffic from India," said Esayas Wolde Mariam, managing director (International Services), Ethiopian Airlines. About 20 per cent of passengers from India travel to Addis Ababa and the rest travel onward to other African countries including South Africa, Kenya, and Nigeria. The airline's regional director for India Tadesse Tilahun said "India is a growing and very strategic market for Ethiopian.
Ethiopia Working on Safe Return of Kidnapped ChildrenFebruary 3, 2017 - Ethiopia is working to ensure the safe return of 19 children kidnapped recently from Gambella Regional State by the Murle tribe of South Sudan, the Government Communication Affairs Office (GCAO) said, according to ENA. At a press briefing he gave this afternoon, GCAO Minister Dr. Negeri Lencho said this occured in the middle of the effort Ethiopia has been exerting to ensure the return of its remaining 60 children of the 151 children kidnapped last year by the same group. According to Dr. Negeri, the government has been training 1,500 militias to patrol the border frequently used by the tribe to raid neighboring ethnic groups and inflict damages. Not only are members of the Murle tribe entering this part of the border, but also terrorist groups trained by Eritrea, the minister added. The government is, therefore, working to strengthen people-to-people bondage by constructing a bridge on Gilo River and carrying out other activities to protect border areas effectively, Dr. Negeri said.
Ethiopian Council of Ministers Approves Salary Raise for Civil ServantsFebruary 3, 2017 - The Council of Ministers, in its 22nd regular session held today, discussed and passed decision to raise salaries of Ethiopian civil servants effective January 9, according to FBC. The Council of Ministers of Ethiopia also approved the draft bills prepared to increase allowance for pensioners, to establish Federal Housing Corporation and loans that Ethiopia had agreed with various international organization, a statement obtained from its office noted. According to the statement, the Council decided the draft bill tabled by the Ministry of Civil Service and Human Resource Development to increase salaries of civil servants to be effective beginning from January 9, 2017. The Council said it had been making utmost efforts by designing a strategic framework to address problem of housing caused by increasing rate of urban growth as well as to balance supply and demand. Hence, a draft bill was prepared and tabled for the Council of Ministers for the establishment of a Federal Housing Corporation that will be tasked for developing, renting, repairing and managing houses, it said.
Ethiopian Airlines, the largest and fastest growing African airline, proudly announces that it received its third Airbus A350 XWB on February 1st, 2017. Ethiopian Airlines customers will have the special privilege of experiencing the superior features and services of both airplanes. Ethiopian was the first African Airline to take delivery of Airbus A350 XWB in 2016.About EthiopianEthiopian Airlines (Ethiopian) is the fastest growing Airline in Africa. Ethiopian fleet includes ultra-modern and environmentally friendly aircraft such as Airbus A350, Boeing 787, Boeing 777-300ER, Boeing 777-200LR, Boeing 777-200 Freighter, Bombardier Q-400 double cabin with an average fleet age of five years. In fact, Ethiopian is the first airline in Africa to own and operate these aircraft.Ethiopian is currently implementing a 15-year strategic plan called Vision 2025 that will see it become the leading aviation group in Africa with seven business centers: Ethiopian Domestic and Regional Airline; Ethiopian International Passenger Airline; Ethiopian Cargo; Ethiopian MRO; Ethiopian Aviation Academy; Ethiopian In-flight Catering Services; and Ethiopian Ground Service.
ADDIS ABABA Nine Yemenis deported from the United States in the wake of U.S. President Donald Trump's travel ban were flown to Ethiopia, then taken to neighboring Djibouti, an Ethiopian government official said on Friday. The Yemenis, blocked by Trump's executive orders barring travel to America by people from Yemen and six other Muslim-majority countries, had asked to go to Djibouti - just over the Red Sea from their home country - the official added. "The only reason they came to Addis Ababa was because Ethiopian Airlines has flights from Addis Ababa to Washington," government spokesman Negeri Lencho said, without going into details on when they traveled. At the shortest point, Djibouti and Yemen lie about 30 km (20 miles) apart at the southern mouth of the Red Sea. Trump's orders - that the White House says are necessary for national security - have triggered protests across the United States and beyond.
Hundreds of deportees from the United States are reportedly stuck at Bole International Airport in Addis Ababa, Ethiopia, after they were deported from various U.S. airports, following the recent travel ban issued by U.S. President Donald Trump. It reportedly disclosed that the deportees are planning to sue Trump’s administration for the inconveniences, according to Awramba Times. Backing up numerous reports, Simon Sandoval-Moshenberg, a lawyer representing two Yemeni migrants, told Slate that his clients were denied entry in to the United States and are currently trapped at an airport in Addis Ababa, Ethiopia. The seven countries affected include Syria, Iran, Iraq, Sudan, Somalia, Libya, and Yemen. Travelers from the seven countries seeking to enter the United States were immediately detained at different airports across the United States and questioned before being deported back to their countries of origin.
State Emergency Succeded in Quashing Unrest - Ethiopian MinisterFebruary 2, 2017 - In an interview with the Financial Times, Negeri Lencho, the communications minister, said the state of emergency imposed in October had succeeded in quashing a wave of nationwide anti-government protests that left hundreds of people dead. But in an apparent acknowledgment of the failings of the government’s state-driven development model, he admitted that anger over high unemployment was a factor behind the unrest. “The government educated the youth and there was not enough employment,” Mr Lencho said. “So the extremists used this fertile ground to incite violence.”More than 500 people have been killed and tens of thousands detained over the past 18 months as anti-government protests spread across the country. The violence, which also targeted foreign-owned business, and the autocratic government’s response, has rattled investors.
ADDIS ABABA, Ethiopia—The prime minister said in a rare interview that President Donald Trump’s “America first” message is following the lead of key Ethiopian ally China in looking to stimulate domestic job growth. “China has become a model not only for Ethiopia but now even for the new administration of the United States,” Prime Minister Hailemariam Desalegn told The Wall Street Journal on Wednesday, in an interview in which he urged President Trump to maintain a key trade deal and bolster cooperation against terrorism....
The Ethiopian Prime Minister, Mr Haile Mariam Desalegn, has invited business interests in Seychelles to invest in Ethiopia, particularly in that country's tourism industry given Seychelles' wealth of know-how in that field. The Ethiopian premier expressed this wish during a bilateral meeting with Seychelles President, Mr Danny Faure, who was in Ethiopia to attend the 28th Ordinary Summit of the Africa Union, his first since acceding to the presidency in October last year. The setting up of a Joint Ministerial Commission will be the key driver of the cooperation between Seychelles and the landlocked country of the Horn of Africa. Speaking to the local media after his meeting with the Prime Minister at State House, President Faure said that bilateral relations between the two countries will fly to greater heights. Seychelles has good connectivity to Ethiopia through the latter's national carrier which has five weekly flights between Victoria and Addis Ababa.
ON THE walls of the Ethiopia Commodity Exchange (ECX) in Addis Ababa, the capital, hang glossy black-and-white photographs of provincial market towns and rustic life. For the merchants and brokers striding across its high-tech trading floor they serve as a reminder that the ECX, sub-Saharan Africa’s most modern commodity exchange outside Johannesburg, exists for a simple, practical purpose: to transform Ethiopian agriculture. By connecting smallholder farmers to global markets, the exchange, launched with a fanfare in 2008, was supposed to help reduce hunger. Its annual turnover—worth about $1bn—is dominated instead by two export crops, coffee and sesame seeds. Another model might be the Agricultural Commodity Exchange for Africa in Malawi, which was set up privately in 2006 at the request of an association of smallholder farmers.
Leading News from Sri Lanka::* Sri Lanka, Ethiopia conclude agreements in economic, political sectors strengthening bilateral tiesThu, Feb 2, 2017, 08:22 pm SL Time, ColomboPage News Desk, Sri Lanka. Feb 02, Addis Ababa: Ethiopia and Sri Lanka on Wednesday signed two agreements that will enable them to cooperate in political and economic affairs strengthening bilateral relations. The Minister said that Sri Lanka is working to improve ties with the rest of the world. Dr Workneh Gebeyehu for his part said that Ethiopia is also interested to further boost ties with Sri Lanka. 875, Kebele 02, Bole Sub City, Addis Ababa, Ethiopia.
Millions of people are living in desperate conditions in Somalia as extreme drought is threatening the lives and stability of a country vital to regional and UK security. In Somalia, conditions are worsening with daily reports of rivers drying up, crops failing, and people and livestock dying. I urge our international partners to join forces with Global Britain and provide immediate support for the relief effort. The International Development Secretary also emphasised her concerns for people suffering from the Horn of Africa drought in Somalia, Ethiopia and Kenya and urged humanitarian partners to accelerate joint efforts for an early response that will save lives. Ms Patel outlined that increased UK support is helping 800,000 people in Ethiopia including: