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NOTHING FOR
NOW! |
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Ethiopia’s pop star, Tewodros Kassahun,
a.k.a. Teddy Afro, was not as nervous and
uncertain on Friday morning as he was when
first locked up inside a temporary detention
centre inside the compound of the Federal
High Court, in Lideta District, 16 months
ago.
Granted early release from his two-year
sentence for good behaviour, Teddy was
cheerful and welcoming to family members as
fans flocked to his mother’s - Tilaye Arage
- residence on Cameroon Street, on the road
from Bole Medhanialem to Hayahulet Mazoria.
He was seen busily comforting his visitors,
many of whom were crying when they met him.
A young fan estimated to be 24-years old
presented to Teddy a poster of the pop star,
poems of appreciation printed under his
photograph; he was in tears.
Teddy was released the previous day, August
13, 2009, at 6:30p.m.
His ordeal began in October 2008, after
being charged for hit-and-run manslaughter.
The Federal High Court later on found him
guilty of killing Degu Yibeltal, an 18-year
old street dweller who came from Gojjam to
live with his uncle in Addis Abeba, while
Teddy was driving his BMW. Degu was found
dead on Edget Behebret Street, on the road
alongside the Menelik Palace on the night of
November 2, 2006; his body was taken to
Menelik Hospital, and buried at Gusquam
Church, located on the road to Entoto Hill.
Read More |
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From left: Joyous moment for Teddy’s family
including mother Tilaye Arega, who is also in the
(middle) photo with Roman Bezu, widow to Tilahun
Gessese; far right is Teddy, his aunt and lawyer
Million Assefa. |
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Government Takes Back Omedla
Hotel |
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The Privatization and Public Enterprises Supervisory
Agency (PPESA) reclaimed Omedla Hotel on Monday
August 10, 2009, three years after a court ruling
gave them the power to do so. |
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Ministry Revokes Licence of a Clearing Agent for Alleged
Relations with a Foreign Firm |
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Established three years ago by two shareholders,
with a two million Birr capital, the company has
been involved in customs clearing business; however,
it has been under investigation for its alleged
working relationship with the French based logistic
firm, SDV International. CLS Logistics, located
near the Bole Ring Road, along Cameroon (Tele Bole)
Street, handles customs clearing jobs of freights
forwarded by SDV from Port of Djibouti. SDV operates
in 45 countries in Africa, including Kenya,
Tanzania, and Uganda, generating an annual income of
2.2 billion dollars, from its global operations in
2008. In Djibouti, shipping, port handling and
customs clearing is done by SDV International,
according to Ashenafi Mulugeta, operations manager
of CLS. |
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Eleni to Tip African Stock Market Players on Viable
Exchanges |
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The Chief Executive Officer (CEO) of the Ethiopian
Commodity Exchange (ECX), Eleni Gebre-Medhin (PhD),
is expected to tip other African exchange markets on
a viable commodities market at a regional capital
markets’ conference expected to be held from
September 14 to 18, 2009, in Accra, Ghana. |
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Pleasant
Surprise for CBE Workers |
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The Commercial Bank of Ethiopia has taken its
employees by surprise with the declaration of a
hefty bonus and salary increase following the
announcement of a gross profit of 2.7 billion Br. |
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Flower Study
Hopes to Blossom Revenue |
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Ethiopia's flower exporters could be using better,
market enhancing packages for their stalks as of
early 2010, depending on a successful completion of
a study conducted for the horticulture association
by two Swiss based institutions. |
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Sheger
Elects Directors, Technical Board |
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Sheger City Meter Taxi S.C. elected board members
at its first general assembly held at Ras Hotel on
Saturday August 8, 2009. |
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Electronic
Project Spurs Assembly Opportunity |
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The Electronic Ethiopia Project will release into
the market in September 2009, 400 units of six types
of electronic products which will be assembled in
Ethiopia for the first time. This project runs under
the Engineering Capacity Building Program (ecbp),
which is a joint venture scheme between the
governments of Ethiopia and Germany. |
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NIB Contracts Consultant for Construction in SNNPR |
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Nib International Bank (NIB) engaged Geretta Consult
Plc, a category-3 firm, on Friday August 14, 2009,
for the architectural work and consultancy of the
construction of a three storey building in Welkitie
town, 158Km south west of Addis Abeba in the
Southern Nations, Nationalities and Peoples Regional
State (SNNPR). |
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Bank of Abyssinia Likely to Enter another Cycle of Turmoil |
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The Bank of Abyssinia (BoA) is edging closer to
another cycle of turmoil, following the resignation
of its Acting President, Chanyalew Yilma, last week,
sources disclosed to Fortune. |
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Agency Cancels Bids for EIC Building with Possibility to
Re-tender |
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The Public Financial Enterprises Supervisory Agency
(PFESA) has cancelled the bid entry for the
construction of a 14-storey building dubbed, "Life
House" planned by the state owned Ethiopian
Insurance Corporation's (EIC). |
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National Consultants-Hopeful Bidder to Design ET's Four-Star
Hotel |
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The private
architectural firm, National Consultants, is
emerging as a potential contender to bag a
multimillion Birr consulting contract from the
Ethiopia Airlines (ET), which is planning to build
its own four-star hotel in a vast plot near Bole
International Airport, sources disclosed. |
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