Ethiopia's construction sector reaches 21% of GDP
The industry is projected to grow at an annual rate of more than 8 per centDeputy Prime Minister Temeshgen Tiruneh has announced that Ethiopia's construction industry has reached a significant milestone and now contributes 21 per cent to the country's Gross Domestic Product (GDP). The announcement was made during the opening of the much-anticipated Big 5 Construct Ethiopia 2024 Expo in Addis Ababa, as reported ENA . The event highlighted the significant growth of Ethiopia's construction sector. He emphasised the vital role of the sector in infrastructure development and job creation, noting that Ethiopia is capable of supplying 80 per cent of construction materials to the domestic market. Minister of Urban Affairs and Infrastructure Chaltu Sani emphasised the importance of coordination among various stakeholders to ensure the continued development of the construction industry, which is a key driver of Ethiopia's economic transformation.
Source:Ethiopian News
June 01, 2024 21:34 UTC
Business And Trade Delegation From Pakistan Concludes Its Visit To Ethiopia
As a business and trade delegation from Pakistan concluded its visit to EthiopiaSIALKOT, (UrduPoint / Pakistan Point News - 1st Jun, 2024) As a business and trade delegation from Pakistan concluded its visit to Ethiopia. President Sialkot Chamber of Commerce and Industry (SCCI) Abdul Ghafoor Malik expressed heartfelt gratitude on behalf of the delegation. SCCI President Abdul Ghasfoor Malik highlighted the delightful experience of staying in Addis Ababa, noting the city's beauty, cultural heritage, the resilience and warmth of its people. The MoU was signed by President SCCI Abdul Ghafoor Malik and Ethiopian Investment Commissioner Hanna Arayaselassie. This significant agreement lays the groundwork for enhanced bilateral trading cooperation between the business communities of Pakistan and Ethiopia through joint ventures.
Source:Ethiopian News
June 01, 2024 21:33 UTC
JUST CORSECA Unveils Stylish and Powerful SSPEED and STORM Charger Range for Modern Consumers
JST916 12W Travel Charger : This compact and stylish charger offers combined USB-A and USB-C port outputs for up to 12W of power. It includes a Type-C to Type-C cable, also 1 meter in length, and supports data and sync functionalities. It includes a Type-C to Type-C cable, also 1 meter in length, and supports data and sync functionalities. STORM Series: Power and Sophistication for the Discerning TravelerJST920 PD20W Travel Charger: The JST 920 is a sleek, versatile PD20W travel charger designed for both portability and power. JST922 PD45W Travel Charger: The JST 922 impresses with a powerful 45W output and a refined, minimalist design.
Source:Ethiopian News
June 01, 2024 21:28 UTC
Somalia Sets Deadline for Ethiopian Troops Withdrawal
Somalia Sets Deadline for Ethiopian Troops WithdrawalMOGADISHU, Somalia - Somalia has announced a significant development in its military and diplomatic relations with Ethiopia, signaling a major shift in the region's security dynamics. The Somali government has set a deadline for the complete withdrawal of all Ethiopian troops from its territory by the end of December 2024. The move to expel Ethiopian troops is a significant step in Somalia's efforts to assert its sovereignty and control over its internal security matters. The withdrawal of Ethiopian troops is expected to have significant implications for the security situation in Somalia. As the deadline for the Ethiopian troops' withdrawal approaches, all eyes will be on Somalia and Ethiopia to see how this development will impact the broader security and political dynamics in the Horn of Africa.
Source:Ethiopian News
June 01, 2024 18:50 UTC
Stock markets evolution and top markets in 2024 – New Business
By Anwar Hussen Mohammed – The Government of Ethiopia has recently announced completing its preparations to introduce stock market by forming Ethiopian Capital Market Authority, which regulates both capital market and stock exchange. But, first thing first, let’s define capital market and stock market:A capital market is where companies go to raise financial capital (money) in general. The Future of Capital Markets:• The future of capital markets is likely to be shaped by continued technological advancements, such as blockchain and artificial intelligence. The top 10 stock markets in the world (2024)The global stock market landscape continues to shift, with some surprising climbers in 2024. The Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) are leading the charge.
Source:News Business Ethiopia
June 01, 2024 17:57 UTC
Saudi Arabia condemns Israeli attempts to undermine UNRWA efforts
Attendees explored the latest advances and emerging trends in museum education and innovation. Al-Saraj highlighted the platform’s ability to support the growth of a vibrant museum sector and benefit various stakeholders, including students, recent graduates, museum professionals and the public. Adam Habib, vice-chancellor of SOAS University of London, and Reem Al-Madani, dean of admissions at Effat University, signed the agreement. This idea of experiential learning in museums by shadowing professionals was particularly important. Al-Saraj said that developing a blended, experiential learning program required a balance between global knowledge and local expertise to create a robust curriculum.
Source:Ethiopian News
June 01, 2024 17:55 UTC
Business About Town for June 2
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Source:Ethiopian News
June 01, 2024 17:13 UTC
Labour unions in Nigeria to begin indefinite strike over minimum wage
The two main labour unions in Nigeria have declared an indefinite strike as from Monday over what they terms as a disagreement on a new minimum wage with the government. The Nigerian Labour Congress (NLC) and the Trade Union Congress (TUC) both had issued warnings on Friday that they would proceed with the strike shoulkd the government fail to head their grievances over minimum wage requirement. They had on Tueday called for the minimum wage to be increased to 60,000 Naira but the government refused the proposal. The Friday meeting was wa s a no-show by the government representatives a move that angered the two unions. The two unions are also demanding the government to stop the electricity tariff hike effected last month.
Source:Ethiopian News
June 01, 2024 13:34 UTC
Damtew, Belaybeh and Debebe suspended
Dire Dawa striker Carlos Damtew, Adane Beleneh of Wolkite City and Fasil Kenema’s Mignot Debebe topped the league sanctions for week 26, when the Ethiopia Premier League disciplinary committee met to review the week’s infractions. A total of six players were punished with sanctions including fines and suspensions. The players, Carlos Damtew, Adane Belayneh and Mignot Debebe received their fifth yellow cards of the season which cost them fines of 1500 Birrs and a one-week suspension each. Gatuoch Panom of Fasil Kenema and Tsegaab Yohannes of Hawassa City were both sent off during the week’s match after receiving two yellow cards each. They too were suspended for one game, meaning the next league match, and fined 1500 birrs.
Source:Ethiopian News
June 01, 2024 12:13 UTC
Ethiopia, Yapi Merkezi arbitration hearing begins in London
The first hearing in the case involving the state-owned Ethiopian Railway Corporation and Yapi Merkezi, a Turkish contractor, took place earlier this month, according to reliable sources. It centers around the 392-kilometer Awash-Woldiya-Hara Gebeya railway project kicked off in 2015 with USD 1.7 billion in financing from the state-owned Turk Exim Bank. Systra MD, a French firm, was awarded the contract for consulting on the project, while Yapi Merkezi was in charge of the construction work. Attorneys representing the Corporation and the government traveled to London days before the hearing and have since returned to Ethiopia. Only the arbitration judges and representatives of Ethiopia and the contractor know,” said the executive.
Source:Ethiopian News
June 01, 2024 11:01 UTC
Biden calls criticism of Trump jury verdict ‘dangerous, irresponsible’
This is the scene at the heat wave “bay,” a separate unit at the largest public hospital in the city, that is dedicated to heat stroke patients. “Definitely there are heat stroke patients coming in here at Nishtar Hospital,” Medical Superintendent Dr. Muhammad Kazim Khan told Arab News on Friday. In case of a heat stroke, patients spend up to eight hours at the facility before being discharged upon the physician’s advice, according to the medical superintendent. Diabetes, heart diseases and respiratory illnesses, associated with heat stroke, could become “very dangerous” for patients during a heat wave, he warned. “And there may be chances of heat wave patients increasing.”
Source:Ethiopian News
June 01, 2024 10:53 UTC
China's monitoring progress of negotiations on Zambia's debt restructuring
China is closely monitoring the progress of negotiations on Zambia's debt restructuring and will take steps to support Zambia in dealing with relevant issues, Chinese Foreign Ministry spokesman Mao Ning said on Friday. “Congratulations on the significant progress made in Zambia's debt restructuring negotiations. As Zambia's good friend and partner, China takes Zambia's debt concerns very seriously. China was the first official international creditor to relieve Zambia's debt and, as co-chair of Zambia's Official Creditors Committee, led the efforts that led to significant progress in restructuring that debt. China will continue to coordinate with the parties concerned to advance the follow-up of Zambia's debt treatment,” said Mao.
Source:Ethiopian News
June 01, 2024 10:16 UTC
Fabulous Ethiopian food and community get-together in Ballindangan
The Parents’ Association of Ballindangan NS had a really successful fundraiser last Friday evening in Ballindangan Hall. Following on the success of last year’s Curry Night, the organisers decided to deliver an Ethiopian Food Night this year. And the night lived up to expectations and continued the great tradition in Ballindangan of really positive social events. The hall looked splendid with the tables laid out with candelabras and decorated with flowers, balloons and sea shells. Claire of the Parents’ Association welcomed everyone and outlined that the night was a key fundraiser for the Parents’ Association, together with it being an important social evening.
Source:Ethiopian News
June 01, 2024 10:09 UTC