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“THE DREAM ISN’T UNREALISTIC”

 

 
 
 

With the kind of economic progress that World Bank President, Paul Wolfowitz, said Ethiopia has egistered recently, the next 10 years could be when the country sets an example to the rest of Africa. But only if it ensures harmony and stability that he said was lacking in the last 30 years.
 

Speaking to journalists at the Sheraton Addis on Wednesday night as he concluded his three-day visit, Mr. Wolfowitz said political reconciliation among the country’s various political parties can “take Ethiopia a very long way.” He deemed this essential to growth.
 

“It is something like a dream,” he told reporters. “But it is not an unrealistic dream.”

He was ushered (above) to the press conference by a Sheraton Addis staff member. Ishac Diwan (left), the Bank’s Country Representative for Sudan and Ethiopia, looked on, perplexed.

 

 

Money Still Missing after Botched Bank Robbery

Despite having all suspects in custody, close to 14,000 Br remains unaccounted for from the 100,000 Br that three armed men ran off with on Friday afternoon, July 14, after they made a botched robbery attempt at a branch of the Commercial Bank of Ethiopia (CBE). Police killed a fourth assailant.

The robbers entered the CBE’s Tewodros Square Branch, a.k.a. Banco De Roma, around 3:40pm armed with two pistols and two AK-47 rifles, the latter taken from security personnel guarding the bank’s entrance.

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Council Decides Civil Servants Cannot Organize

The Council of Ministers has dropped the idea of letting members of the civil service organize themselves into trade unions or other forms of association, sources disclosed.

The Council, in its 18th regular meeting held on Friday July 14th, deliberated on the Civil Service Bill, before it gets directed to Parliament, which resumes business in November 2006. The bill, designed to reform the Civil Service Proclamation of 262/94, is one of the few legislations the Council debated for four consecutive weeks before it endorsed it last week by consensus.

 

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Gov’t to Set-up Intelligence Agency for Finance

At the urging of the US government and other international entities, legal experts at the federal government are writing a bill that will allow Prime Minister Meles Zenawi’s administration to set up an intelligence agency responsible to “follow the money”.
 

The legal services department at the central bank is working on two documents: a 14-page regulation that will establish the Financial Intelligence Authority and a 46-page proclamation on the prevention and suppression of money-laundering and the financing of terrorism. The bill defines money-laundering and how different transactions can be identified as such. 

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Meles on the Economy


To the delight of the private media, Prime Minister Meles Zenawi is now in the habit of conducting a regular press conference where members of the press are invited to attend. For the third time since assuming his latest term in office, Meles has met journalists from the international press corps and those working for the English language press.

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   ETHIOPIA

On A Knife's Edge: Ishac Diwan

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LETTERS TO THE EDITOR

 
Bad Loans Not Just About Money

I have read the article headlined, “Is Anyone Watching” [Volume 7 Number 323, July 9, 2006] on Prime Minister Meles Zenawi’s report to Parliament that was televised live. To answer your question, yes I did. But I regret it.

In his last report, the Prime Minister was asked about the problems of non-performing loans with the commercial banks. In a rather impolite and sarcastic tone, he responded saying, “Do we have to do the job of banks? Or should we print money and distribute it to the debtors so that they could pay their debt? We can discuss about this option, but it would not take us anywhere.”

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   Read Letters to the Editor

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Eyesuswork Zafu, managing director of United Insurance and board chairman of the United Bank, appeared to have been engaged in a tense conversation with Neway Gebreab, chief economic advisor of the Prime Minister, under ministerial portfolio, at the Sheraton Addis on Friday, July 14, in the late afternoon.

They seemed to have hardly any opportunity to enjoy the coffee break at the end of a lecture given by Grzegorz W. Kolodko, a Polish economic professor, who spoke to the Ethiopian audience on how they could draw from his country's experience while transforming the Ethiopian economy. He gave Ethiopia a flying colours, describing its economic transition "on the right track". He said he would advise the central bank, whose recent conduct appears to be a subject of conversation between the two gentlemen in the picture, to be a regulatory agency functioning independent of the executive branch.  

 

 
 
 

Guinness Book Candidate?


Tadesse Haile, state minister of Trade and Industry, and Alem Asfaw, from the Ethiopia Tannery, looked flabbergasted when exposed to a shoe whose size the creator claims is the largest in the world. Guinness Book of World Records has the largest shoe ever made as a size 328. This shoe, claimed to be size 360, is named Mozaic. It is displayed by Belachew Tolla at the first Ethio-International Leather and Leather Products Trade Fair and Exhibition, opened at the Addis Abeba Exhibition Centre on July 7, 2006. Organized by BA Promotion, the trade fair will last for five days, closing on Monday, July 11, 2006. Mozaic took six months to manufacture. It is 2.37m wide and has a height of 1.4m. It took up 300m of sewing thread. The leather used to produce the shoe could manufacture 42 pairs of regular shoes, according to the designer.

 

(Compiled by Habte Tadesse,
Fortune Staff Writer)

 

 
 





 

 

 



 





 


 

 


 

 

 
 

Federal Agency Plans High Tech Hub Near CMC

     
 

The Addis Abeba City Land Administration and Development Authority has granted a 200,000sqm plot for what federal government authorities hope will become Ethiopia’s high tech hub, much like Hyderabad or  Bangalore in India.

The plot was given to the Ethiopian Information and Communication Technologies Development Agency (EICTDA), a federal agency responsible for the expansion of information and communications technology in Ethiopia, in the first week of May 2006, a source disclosed.

 

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Engineering Professor Helps Salini Trucks Cross Abay Bridge

     
 

Stranded for three weeks at the gate of the Abay Bridge for carrying construction machineries too heavy for the bridge’s load capacity, two of the four Salini trucks were allowed to cross on Wednesday, July 12.
 

Italy’s largest construction company, Salini Costruttori SPA, contracted by the government to build a 5.4 billion Br hydro electric dam on the Belesa River, had to depend on the expertise of a local engineering professor, Negussie Tebeje (PhD).

 

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Butter Importer Accuses Rivals of Unfair Competition

     
 

A Yemeni exporter of vegetable butter, Sheno Lega, and its local partners have taken a business grievance against East Africa Holdings and three individuals to the federal Trade Practice Investigation Commission, claiming that the defendants are engaged in unfair competition.
 

The exporter, Hayel Saee Anam & Co., and its local partners submitted revised charges to the Commission on July 13.

 

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Bahir Dar Conference to Promote Investment in Amhara Region

     
 

Over 200 business people from Addis Abeba are due to congregate at Bahir Dar, the seat of the Amhara Regional State, to discuss what kinds of policy incentives will attract more investment to the region. Hundreds of invitations from the office of the regional president, Ayalew Gobeze, were distributed primarily to business owners born in the regional state.

According to the region’s Trade and Industry Bureau, a total of 500 businessmen and women are invited to the daylong consultation to be held on Monday, July 17, 2006. Close to 270 of the invitees are from the Amhara state.

 

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A New ETA Directive Contradicts Road Transport Regulation: Ass’n 

     
 

The Ethiopian Transport Authority (ETA) issued a new directive that allows the import of fuel truck, which was suspended two years ago. But the new ruling seems to contradict with existing law governing road transport.

In protest, 12 transport associations and companies delivered a six page letter to the Prime Minister's office, to the Ministry of Transport and Communication, to the Minister of Trade and Industry and to the Authority.

 

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Eco Group To Seek Funding to Save Great Rift Lakes

     
 

A group of senior government officials, academics, investors and diplomats met last week, with an aim to rehabilitate the Rift Valley lakes, specifically those around the town of Bishoftu (Debre Zeit), 45Km south east of Addis Abeba.

The outcome of the July 12th meeting was the creation of the Strategic Alliance Group, a new assembly of concerned stakeholders concerned about how much the ecosystem in these areas has been affected by pollution, deforestation, land degradation and harmful utilization of water from the lakes.

 

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Soda Ash Producer Stops Production After Lake Retreats Further

     
 

The only caustic soda and soda ash producer in the country that supplies raw material to 65 local companies was forced to stop production last week, after Lake Abijata retreated by another kilometer.

Abijata Soda Ash Enterprise has no access to the lake that supplies it with the acidic water it needs for the production of materials used for making glass, ceramics and soap. Operated for close to 16 years, since the establishment of the factory in 1990 at a cost of 26 million Br, the projection made during the feasibility study has proved to be incorrect.

 

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Company to Turn Guenet Hotel Into Classrooms

     
 

The Catering and Tourism Training Institute (CTTI) selected Gedion Demeke Consulting Architect (GDCA), a private engineering firm, to turn the bedrooms at Guenet Hotel into classrooms. 

Local consultants were invited by the Institute to provide detailed preconstruction study of architectural, electrical and sanitary design in order to help the Institute turn the 100 bedrooms in Genet Hotel, its future location, into a language laboratory, lecture rooms, a library, and offices. The study is expected to be completed at the end of this month.

 

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Fearing Police Crackdown, Forklift Owners Pull Machines From Operation

     
 

For the last two weeks, Addis Abeba’s transit business has been profoundly inconvenienced by a sudden shortage in forklift service. Many forklifts are no longer in sight at their usual location at the gate of the former Addis Abeba office of the Ethiopian Customs Authority, on the Ras Mekonnen Avenue, making the smallest loading or unloading jobs all but impossible to carry out.

“We are subjected to unforeseen losses,” said a businessman who imported a photo-printing machine.

 

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Ayat Commercials “Misleading” Say Angry Residents

     
 

Angry homeowners at the Ayat residential complex have begun circulating a resident petition protesting what they see as misleading and deceptive commercials run prominently during the recent World Cup by the country’s largest real estate company.

The company launched a series of TV commercials six weeks ago in its bid to attract prospective house buyers. At a cost of over 250,000 Br, the real estate company booked ETV’s prime time right after the eight o’clock news, each running for close to two minutes.

 

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The Ninth Civil Bench of the Federal High Court, which has been looking over charges brought by 19 individuals against Shola Real Estate S.C., passed a verdict two weeks ago favouring the plaintiffs.

In this landmark verdict that could set precedence to a similar case pending at the Federal High Court, the Ninth Civil Bench said the plaintiffs are entitled to get plots Shola received from the city administration in the name of the disgruntled home seekers.

 

 

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A film premiere at the Sheraton Addis on Wednesday night, July 12, drew an unusual crowd of 12 top government officials, including Foreign Minister Seyoum Mesfin, Tefera Walwa, minister of Capacity Building, Kassu Illala (PhD), minister of Works and Urban Development and Bereket Simon, public relations advisor of the Prime Minister under ministerial portfolio.

The strong attendance by government heavy hitters together with the extravagant gifts awarded veteran artists, were the major highlights of the unusual night, more talked about in the subsequent days than the film itself.

 

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Carrying out a major management restructuring, Ethiopian Airlines (EAL) is downsizing the number of its executive officers from 11 to six.

The management of the Airline has reduced the offices, categorizing two of them as staff units (Internal Audit and Corporate Quality Assurance as well as Legal Council) and four as executive vice presidents, all accountable to the Chief Executive Office (CEO). 

 

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The Cabinet of the Addis Abeba Caretaker Administration decided two weeks ago to begin preparations to celebrate the Ethiopian millennium, an event that corresponds almost exactly with the end of Mayor Berehane Deressa’s current mandate.

In May 2005, the Council of Ministers issued a directive to begin preparations for September 2007 millennium events with the creation of a national council. Federal authorities hope that the millennium will attract international visitors and help the country increase from the 227,000 tourists it hosted in the last fiscal year.

 

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News From Fortune Archive

May  

07

  At 60, Ethiopian Inaugurates Cargo Terminal and Maintenance Hanger
[
Volume 7, Number 314]
     
14   Addis Bombarded by Explosions Increasing Injured and Dead [Volume 7, Number 315]
     

21

  YBP Forwards Land Requests to PM Office [Volume 7, Number 316]
     
28   Adama Chaos Ends in Two Deaths, Serious Injuries [Volume 7, Number 317]

 

          Read More
June  
4   New Legislation on Directors Divides the Banking Inds [Volume 7, Number 318]
     
11   Ethiopia On A Knife's Edge: Ishac Diwan [Volume 7, Number 319]
   
18   Oromia to Grant ESL 238,000sqm Plot near Dukem [Volume 7, Number 320]
     
25  

Negussie Hailu Released after 14-year Sentence [Volume 7, Number 321]

   
July  
2   NBE to Pick New Cash Note Printer [Volume 7, Number 322]
     
9  

FAO to Move African Regional HQs to Addis [Volume 7, Number 323]

     
 
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  Agenda
  Which Way to the World Cup ?
 
 

Football means many things to many people. Take, for  example, Tadesse Aynalem, the new chairman of the Coffee Football Club fans association.


30-years-old, Tadesse has had an unconventional career. He is one of four survivors of the 11 people who founded Tasfa Goh Ethiopia, a group that helped break the AIDS taboo  in Ethiopia 10 years ago. His first wife, the late Mebrat G. Meskel, was also a founding member.

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Economic Commentary
 
 

When trade representatives of the United States announced that they would concede 97pc of their duty on exports from poor countries, many delegates from the developing world were skeptical. Six months later Joseph E. Stiglitz, a Nobel laureate in economics and a professor of Economics at Columbia University, and .........

 

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Opinion
 
 

To me, the opposition parties that have decided to join parliament this year after so much haggling do not sound brilliant when trying to articulate their agendas in Parliament. Opposition politicians looked terrific before, during and immediately following the May 2005 elections. Now well-settled in Parliament, they look more timid, less imaginative and more divided.

 

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Editor's Note
 
 

Two distinct ideological tendencies were evident during the recent parliamentary debate that set the Revolutionary Democrats against what their chief priest, Prime Minister Meles Zenawi, called liberals, whom he accused of displaying confusion and inconsistency.

 

 

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My perspective
 
 

My tall Gojame friend called Thursday afternoon to kindly give me some information that I needed. He enquired about what I was writing about, and I ......


 

 

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View point
 
 

In history books, bloody revolutions and popular uprisings get all the attention. But if you look at the past more closely, many epochal democratic breakthroughs happened after the storm or next to it, when pressured autocratic regimes made concessions to democracy out of pragmatism ...

 

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Life Matters
 
 

A close member of my family is in town from Sweden for a few weeks and has been staying at our house. He has been residing in Scandinavia for well over 30 years, and it is always most entertaining when he comes to visit. His entire Abesha ......

 

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View From Arada

 

The new basilica of the Holy Saviour church built in the vicinity of Bole (referred to as Bole Medhanialem in the local vernacular) has become the latest addition to the series of tourist attractions in the metropolis.

The usual site for churches in this country is a hilltop or at least an elevated land with a commanding vantage point from where one can see the surrounding landscape. The Bole area in the southern part of Addis, however, is disadvantaged in this regard. Nonetheless, the grandeur of the basilica and its imposing presence compensate well for that natural shortcoming.

 

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Gossip
 
 

Yes, many people say putting an incumbent in the same footage with leaders of opposition, particularly those who are inexperienced, is unjust. They sure have a point. Seen in light of this, leaders of Ethiopia's parliamentary opposition should have been accorded the benefit of a doubt when they were found erring.

In large part, this is not the case. They may think of themselves as braving a huge popular protest when they decided to join the club where their archrival party has an overwhelming power. Particularly in Addis Abeba, little were they appreciated for what many believed was an act of betrayal to their colleagues in jail.

 

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Restaurant Review
 
 

Name :The Dembel Dome Restaurant


Location:
Located on the fourth floor of the Dembel City Centre


 

 

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