Addis Ababa July 18/2024( ENA) Ethiopia has signed a Host Country Agreement with the UN to host the first preparatory session for the fourth International Conference on Financing for Development which will be held in Addis Ababa from July 22-26, 2024. Ambassador Tesfaye Yilma, Permanent Representative of Ethiopia to the United Nations while Li Junhua, Under-Secretary-General for Economic and Social Affairs inked the agreement representing the UN. The Under-Secretary-General on his part appreciated Ethiopia's commitment and role in hosting the UN preparatory Conference on Financing for Development. Both underscored the importance of the conference in setting the right tone to galvanize the international community to mobilize finance for the implementation of the 2030 Agenda and for Sustainable Development. In 2015 Ethiopia hosted the Third Financing for Development Conference in Addis Ababa which adopted the Addis Ababa Action Agenda, a landmark outcome document that outlined a comprehensive global framework for financing the Sustainable Development Goals.
Source:Ethiopian News
July 18, 2024 19:38 UTC
No shade to chicken wings, but they can't monopolize the culinary itinerary of every out-of-towner visiting Buffalo. A well-rounded taste of the local food scene involves more flavors than hot sauce and blue cheese, or au jus and caraway seed (essential ingredients of Buffalo's other famous food, beef on weck). If you're looking to feed out-of-town guests and already have your wing and weck spots secured, then try dining at one of the following suggestions. Continue driving along the lake to SunCliff on the Lake (6892 Lake Shore Road, Derby) for a more remote lakeside dinner in a historic mansion. A taste of the growing international cuisine sceneYou can travel to a lot of countries through food within Buffalo.
Source:Ethiopian News
July 18, 2024 19:12 UTC
Previously, air transport tickets for international travellers could be bought using Birr, Ethiopia’s currency, if they come to Addis Ababa. The new policy will affect companies with the issue of limited dollar availability. Concerns have been raised about the potential impact of this decision, with sources indicating that it could significantly affect their operations. However, under the new system implemented by Ethiopian Airlines, these purchases must now be made in dollars. This represents over 13% of the total $880 million in blocked airline funds across the African continent.
Source:Ethiopian News
July 18, 2024 19:01 UTC
Boeing has agreed to plead guilty to a felony fraud charge in a new deal with the Justice Department. The department said Thursday that it expects to file the detailed plea agreement no sooner than the middle of next week. Prosecutors made the appointment of such a monitor a condition of the plea deal, which also calls for Boeing to pay a new $243.6 million fine. They want a trial, not a plea deal, and they say Boeing should pay a $24 billion fine. The January 2021 decision by the Justice Department not to prosecute Boeing came in the final days of the Trump administration.
Source:Ethiopian News
July 18, 2024 18:32 UTC
IHG Hotels & Resorts launches Low Carbon Pioneers programme, uniting energy-efficient hotels powered by renewable energy to advance sustainability across the industry. LONDON – IHG Hotels & Resorts, a global leader in hospitality, announces the launch of its Low Carbon Pioneers programme, which brings together energy efficient hotels that have no fossil fuels combusted on-site* and are backed by renewable energy. To track and measure their energy data, Low Carbon Pioneer hotels will use IHG’s Green Engage environmental platform. Elie Maalouf, CEO of IHG Hotels & Resorts, said:“We are excited to launch our Low Carbon Pioneers programme as another innovative way in which we’re meeting evolving guest expectations, helping our hotel owners future-proof their businesses and reducing carbon across our estate. The Low Carbon Pioneers programme builds on IHG’s heritage in creating ambitious and innovative solutions to drive progress across the industry.
Source:Ethiopian News
July 18, 2024 15:08 UTC
Africa File, July 18, 2024: Sudan Spillover Threatens EthiopiaAuthor: Liam KarrContributor: Lilya YatimData Cutoff: July 18, 2024, at 10 a.m. [4] The offensive has caused over 125,000 refugees to flee to areas in Sudan near the Ethiopian border and created a potential RSF presence on its border. Source: Liam Karr; Armed Conflict Location and Event Data Project; Sudan War Monitor. The influx of weapons and fighting on the Ethiopian border risks a growth in illicit weapon flows into parts of Ethiopia with a Fano presence. [16]The deteriorating situation on the Ethiopian border also poses various risks to the ongoing peace process in Ethiopia’s Tigray region.
Source:Ethiopian News
July 18, 2024 14:51 UTC
(WASHINGTON) — Massachusetts Air National Guardsman Jack Teixeira, who pleaded guilty to federal offenses for leaking sensitive information online, will now face a military court-martial, according to the U.S. Air Force. No trial date has been set yet for the military legal proceedings, which will take place at Hanscom Air Force Base in Massachusetts. Teixeira faces charges alleging he violated the Uniform Code of Military Justice, according to a statement from the Air Force. The U.S. military reserves the right to separately prosecute a service member who has already been convicted in a federal court. An Air Force evidentiary hearing was held in May to determine whether his case should move forward to an Air Force court-martial.
Source:Ethiopian News
July 18, 2024 14:02 UTC
(WASHINGTON) — Massachusetts Air National Guardsman Jack Teixeira, who pleaded guilty to federal offenses for leaking sensitive information online, will now face a military court-martial, according to the U.S. Air Force. No trial date has been set yet for the military legal proceedings, which will take place at Hanscom Air Force Base in Massachusetts. Teixeira faces charges alleging he violated the Uniform Code of Military Justice, according to a statement from the Air Force. The U.S. military reserves the right to separately prosecute a service member who has already been convicted in a federal court. An Air Force evidentiary hearing was held in May to determine whether his case should move forward to an Air Force court-martial.
Source:Ethiopian News
July 18, 2024 13:59 UTC
Addis Ababa — Early warning should be taken as a necessity not a luxury, World Meteorological Organization Regional Office for Africa Program Manager Ernest Afiesimama said today. Speaking at the workshop, Afiesimama added that early warning faces three challenges, which are availability of information, accessibility and affordability. High emphasis is therefore given to early warning system and its decentralization where capacitated people at local will be in place to lead the system. "For this, we are building disaster risk management system for resilience building and disaster risk prevention, mitigation, preparedness, response and recovery areas of intervention," he elaborated. The national consultation workshop that opened today is coordinated by the Ethiopian Meteorological Institute and the Ethiopian Disaster Risk Management Commission, and co-organized with UN Ethiopia, in partnership with World Meteorological Organization, international organizations and NGOs.
Source:Ethiopian News
July 18, 2024 13:56 UTC
Among the major developments is the emergence of a capital market, which promises to reshape the country’s financial landscape and potentially redefine the role of commercial banks. The emergence of a capital market poses both challenges and opportunities for Ethiopia’s commercial banks. As investors seek higher returns through capital market investments, commercial banks may experience a reduction in deposit inflows and loan demand. These institutions are well-positioned to capitalize on the growing demand for capital market services, potentially eroding the market share of commercial banks. Ethiopia’s capital market authorities must develop stringent oversight mechanisms to prevent market manipulation, insider trading, and other unethical practices.
Source:Ethiopian News
July 18, 2024 13:05 UTC
Soon there will be other options to access finance (financial intermediation) in Ethiopia- the long-awaited Capital Markets. For example, in Kenya while the Kenyan Capital market Authority have a number of Regulatinions (over 30) that deals with specific areas e.g., The Capital Markets (Real Estate Investment Trust) (Collective Investment Schemes) (Amendment) Regulations, 2023) and Capital Market (Investment-Based Crowdfunding) Regulations 2022) that gives a framework to regulate the capital markets. Moreover, the ratings provided by these agencies shape investment decisions in capital markets. Operational risk in capital markets often happens around the integrity and safety of the technology employed and its ability to withstand cyber-attacks . As a complement to financial inclusion and financial consumer protection, financial education is also important to restore confidence and trust in financial markets.
Source:Ethiopian News
July 18, 2024 13:03 UTC
a&o reports a record first half of 2024 with 2.98 million overnight stays, 75% room occupancy, and plans for further expansion in Europe. “We are very much on track,” confirms the a&o Hostels founder and CEO in view of the half-year figures. May and June were the best months with a room occupancy rate of over 80%. Around 1.4 million overnight stays in the first quarter alone already promised a strong first half of the year. The most popular hotels in Germany were a&o Berlin Mitte, a&o Hamburg City and a&o Berlin Hauptbahnhof; and internationally, a&o Prague Rhea, a&o Vienna Hauptbahnhof and a&o Venice Mestre.
Source:Ethiopian News
July 18, 2024 11:30 UTC
Ethiopia has been bogged down in negotiations with the International Monetary Fund (IMF) for nearly five years as the East African country tries to unlock the IMF and World Bank funding needed to prop up its ailing economy. Partly as a result of this, Ethiopia has been trying to borrow around $3.5 billion from the IMF and a further $3.5 billion from the World Bank. Getachew Temare, an Ethiopian human rights activist, told Disruption Banking that “Ethiopia’s negotiations with the IMF have dragged on for nearly five years, highlighting the dire need for broad financial reforms, particularly in currency reform and debt restructuring. Regrettably, the current administration is woefully inadequate for this task.”Temare shone a light on the impact this “inadequacy” is having on Ethiopians. Overall, the government has no clear policy for fighting poverty and improving the lives of its citizens, as it is primarily focused on maintaining power through force.”Author: Harry Clynch#Ethiopia #Africa #IMF #World Bank
Source:Ethiopian News
July 18, 2024 10:02 UTC
(Photo: UNHCR)Addis Abeba –At least nine government security forces were killed and several others injured in an attack on a security post near the Kumer refugee camp in the West Gondar Zone of Ethiopia’s Amhara region on 17 July, 2024, according to eyewitness reports to the BBC. Two refugees from the Kumer camp, which primarily houses Sudanese nationals, informed the BBC that, in addition to the fatalities, several other security personnel were injured in the attack. Following the attack, refugees reported to the BBC that defense forces were deployed to the area. In May 2024, the UNHCR reported that nearly 1,000 Sudanese refugees left the Kumer and Awlala refugee sites in the Amhara region due to security concerns and inadequate services. In response to the situation, the UNHCR has begun relocating Sudanese refugees to a new settlement near Assosa in the Benishangul-Gumuz region of Ethiopia.
Source:Ethiopian News
July 18, 2024 10:01 UTC
North African countries seek assistance at Tripoli conference to help stem flow of refugees and migrants. Representatives from 28 African and European countries have met in Libya’s capital, Tripoli, to discuss ways to address irregular migration. The North African country is a main departure point for refugees and migrants, mostly from sub-Saharan African countries, risking dangerous sea journeys to seek better lives. “It’s time to resolve this problem,” Interior Minister Imad Trabelsi had said, because “Libya cannot continue to pay its price”. Officials in the country, however, “want to bolster the relationship between Africa and the EU to mitigate the migration problem”, he added.
Source:Ethiopian News
July 18, 2024 04:14 UTC