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July 31, 2024 12:59 UTC

DUBLIN--(BUSINESS WIRE)--The "Ethiopia Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2024-2028" report has been added to ResearchAndMarkets.com's offering. The construction industry in Ethiopia is expected to expand by 8.7% in real terms in 2024, supported by investments in the country's transport, industrial, and electricity projects. In the financial year (FY) 2023-24 (July 2023 to July 2024) Budget, the government allocated ETB203.9 billion ($3.5 billion) as capital expenditure. The analyst expects the Ethiopian construction industry to register an annual average growth of 8.9% from 2025 to 2028, supported by investments in the infrastructure, energy, and mining sectors. ScopeHistorical (2019-2023) and forecast (2024-2028) valuations of the construction industry in Ethiopia, featuring details of key growth drivers.

July 31, 2024 12:55 UTC

PARIS (AP) — Attempting to defend her 5,000- and 10,000-meter titles at the Olympics isn’t enough for Ethiopian-born Dutch runner Sifan Hassan. She also will push herself in the ultimate test of endurance, adding the marathon to her program at the Paris Games. And she’ll have roughly only 35 hours between the end of the 10,000 and the marathon. But now she can match Emil Zatopek’s exploit from 1952, when the Czech runner swept the 5,000, 10,000 and the marathon at the Helsinki Games. When Hassan started winning multiple events earlier in her career, she learned about Zatopek and watched a film about him.

July 31, 2024 12:51 UTC

ROCHESTER, Minn. (KTTC) – Rochester is a melting pot of all backgrounds and cultures. A new store in northwest Rochester is adding its touch of Ethiopia to the Med City. KTTC’s Charles Kelley is checking out Adey Abeba General Import and Ethiopian Store to hear about the inspiration behind opening its doors. The owner, Sihine Wendmu, and a relative, Girma Wami, shared what they have seen in the community since opening up last month. Copyright 2024 KTTC.

July 31, 2024 12:03 UTC

The lawyer for the ex-husband told the family court that the woman had been involved in evil acts targeting the claimant. The pernicious tricks came to the surface after a row had erupted between the woman and the sorcerer. In issuing the ruling, the family court said after looking into the case documents, hearing witnesses and proving the woman’s involvement in sorcery, the mother becomes untrustworthy of keeping her children’s custody. The highest divorce rate in the country last year was recorded among Kuwaiti men in May with 629 cases and with 208 among non-Kuwaitis, data from the Central Statistical Bureau showed. Kuwait’s lowest divorce rate over the 2019-23 period was registered in 2020 when 4,661 cases were registered among Kuwaiti men and 4,294 among Kuwaiti women.

July 31, 2024 11:45 UTC





The World Bank pledged $16.6 billion of funding to Ethiopia over three years, providing a fillip to eastern Africa’s biggest economy as it restructures its debt and opens up the nation to foreign investors. The International Development Association’s assistance includes a $1 billion grant and a $500 million concessional loan to help the Horn of Africa nation strengthen its financial sector and improve fiscal transparency, according to a World Bank statement Bloomberg Terminal on Tuesday. The announcement came hours after the International Monetary Fund agreed to a $3.4 billion bailout package.

July 31, 2024 11:32 UTC

The African Development Bank Group has offered its assistance to Ethiopia in developing a national roadmap around a circular economyThe project was launched in Addis Ababa at an event attended by Ethiopian government officials and representatives of the African Development Bank (ADB). This is reported by Prensa Latina , a partner of TV BRICS. The preparation of the roadmap will be financed by ADB through the Africa Circular Economy Fund (ACEF) and will be done in collaboration with the African Alliance for Circular Economy. The document will attempt to address existing challenges by identifying key actions to effectively utilise resources, strengthen legal and institutional frameworks, and build capacity in the public and private sectors, the announcement said. Entrepreneurship Ethiopia is part of ACEF's multinational programme, which includes Chad, Cameroon, Benin and Uganda.

July 31, 2024 08:17 UTC

The Ethiopian central bank has removed all restrictions on trading the Ethiopian birr (ETB), in a move that analysts fear could stoke significantly higher inflation in the East African country. However, the IMF has insisted on foreign exchange liberalisation as a condition for Ethiopia receiving around $10.7 billion in external financing. In the first trading session after the central bank announced the forex regime, the birr slumped by 30% against the dollar. But the loan came only after Ethiopia agreed to end its fixed currency exchange rate. The nation’s current situation does not warrant a full-fledged liberalisation of the market, especially floating the foreign exchange market,” he told Disruption Banking.

July 31, 2024 07:46 UTC

Ethiopian Airlines has announced a strong performance for the 2023/2024 fiscal year, raking in USD 7.02 billion in revenue. The carrier's passenger services contributed significantly, generating USD 5 billion, while cargo operations brought in USD 1.65 billion. Ethiopian Airlines operates to 136 international destinations, including 63 African cities, making it the airline with the most extensive intra-African network. Over the past decade, Ethiopian Airlines has maintained an average growth rate of 25%, surpassing its Vision 2025 strategic goals ahead of schedule. Source: The Ethiopian HeraldAdditional source: Ethiopian Airlines

July 31, 2024 04:59 UTC

2 Zeritu Zekarias, 43, sits on the ground as her husband and relatives dig in search of the missing son at the site of the twin landslides of July 22, 2024, following heavy rains, in Gofa zone, Geze District of Southern Ethiopia, July 29, 2024.

July 31, 2024 04:46 UTC

Cash-strapped ased foreign exchange curbs on Monday as part of a broad economic reform package as the International Monetary Fund approved a loan to the Horn of Africa nation seeking a multibillion-dollar bailout. The value of the local currency, the birr, plunged by around 30% after the move by the country’s central bank. “The reform introduces a competitive market-based determination of the exchange rate and addresses a long-standing distortion within the Ethiopian economy,” the National Bank of Ethiopia (NBE) said in a statement. The International Monetary Fund’s board on Monday approved a four-year loan programme worth around $3.4 billion to support the reforms, with around $1 billion immediately disbursed. Among other measures, it said it would allow foreign exchange to be retained by exporters and commercial banks to boost supplies to the private sector, and announced the introduction of non-bank foreign exchange bureaus.

July 31, 2024 03:04 UTC

Dubai: Emirates’ sister concern flydubai announced Tuesday that it will revise flight schedules to Beirut amid ongoing tensions between Israel and Hezbollah. “Passengers are advised to check the flight status on flydubai.com for the latest information regarding their flights,” the spokesperson explained. While several European airlines have cancelled flights to Lebanon amid regional tensions, most UAE airlines continue to operate as usual. Dubai’s flagship carrier, Emirates, continues as scheduled, according to flight status data on the Dubai Airports’ website. Meanwhile, a spokesperson said Qatar Airways would adjust its schedule to ensure all flights to Beirut operate during the day.

July 31, 2024 03:01 UTC

While strengthening the financial sector, expanding trade options, and improving fiscal transparency, this engagement will also boost protections for poor and vulnerable households during periods of economic change. It consists of a $1 billion grant and $500 million concessional credit from the International Development Association (IDA). The World Bank Group is one of Ethiopia’s largest providers of development finance. Looking ahead, the World Bank is committed to supporting Ethiopia’s aspiration of becoming a middle-income country. IFC is planning about $2.1 billion in investments and MIGA expects to grow its engagement, including under the World Bank Group Guarantee Platform.

July 31, 2024 02:37 UTC

The Aliyah and Integration Ministry and the Jewish Agency for Israel has launched an ad campaign that offers a prize for anyone who provides information about the whereabouts of Haymanot Kasau, a 10-year-old girl from Safed who has been missing for five months. Next Monday, August 5, the Israel Police plans to conduct a massive search for the missing child. Campaign announces rewardThe ad campaign is meant to raise awareness and remind the public that she is still missing. It offers a NIS 350,000 prize for anyone who provides information that leads to finding her. Haymanot needs us!” reads the ad, which calls on the public to not stand by but to “join efforts to find her.”“Any information, and details, could lead to the breakthrough we want,” the ad says.

July 31, 2024 02:21 UTC

Chicago firm Smith LaCien, which was being advised by Jenner & Block, was accused by a Kenyan firm of poaching a plaintiff that sued over the crash of Ethiopian Airlines Flight 302 and pocketing the settlement money from the case. By July 2020, Todd Smith parted from Power Rogers & Smith to create Smith LaCien, a small personal injury firm. This led to a new agreement to be written that gave solely Smith LaCien the same 14% compensation arranged in the original agreement. Smith then hired Jenner in February 2022 to help it manage its relationship with Arwa and Muturi, Arwa said. The case is Arwa & Change Advocates LLP v. Smith LaCien LLP et al, N.D. Ill., No.

July 30, 2024 21:28 UTC