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Officials of the Development Bank of Ethiopia (DBE) appear
determined to recover a loan extended to the developer of
the yellow behemoth prominent on the city’s skyline, on
Africa Avenue. Although DBE threatens to take over the
12-storey building, to put it on the auction bloc, ........Read The Full
Story |
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City to Issue First Bond to CBE |
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The Cabinet of the
Addis Abeba Caretaker Administration, whose mandate
was extended by Parliament for another year in
September 2007, is to issue a bond in order to
finance the constructions of condominiums in the
capital. The city is to sell a one billion Birr bond
to the state-owned Commercial Bank of Ethiopia (CBE),
to be paid back in three years, with four per cent
interest, sources disclosed to
Fortune. |
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EIC
Board Rejects Varnero as Finalist |
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The Board of Directors of the state-owned Ethiopian
Insurance Corporation (EIC), chaired by Mesay Girma,
rejected last week the selection of Luigi Varnero
Impresa Costruzioni, a.k.a. Varnero, to build a
multifunctional structure, while terminating the
firm’s relationship with the consulting company,
Seleshi Consulting Architects and Engineering. |
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Kenyan
Companies Dominate CBE Tender for Payment System
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Five companies are in contention to win a contract
worth as much as 60 million Br for the installation
of the Electronic Payment System (EPS) for the
state-owned Commercial Bank of Ethiopia (CBE).
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New Leather, Textile Centre Aims to Boost
Exports |
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The
Leather, Textile and Garment Development Department under
the Ministry of Trade and Industry (MoTI) is to be
restructured as a centre, sources disclosed. The centre is
expected to be the supervisor of the Leather and Leather
Production Technology Institute (LLPTI), located in Kaliti,
..... |
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United
Continues Positive Earnings Trend in Banking |
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Executives at United Bank SC had a good day
yesterday at the Hilton Addis, reporting their rosy
annual performance from the last fiscal year to the
shareholders of the Bank in the ninth annual general
meeting. Eyesus .. |
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| Agenda |
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Policies to bring down fertiliser prices seem
ineffective in the face of the multiple ... |
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| Editor's Note |
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According to Alan Greenspan, the retired
chairman of the US Federal .... |
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| Economic
Commentary |
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A decade after the major crisis that hit the East Asian
finance industry, Joseph E. Stiglitz (PhD), a Nobel
laureate in economics, reflects what it meant for developing
nations and the rather impressive recovery by those very
much affected. |
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Some jobs require changing thousands of coins
everyday. These cents circulate around the .
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OBITUARY |
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Professor Kinfe Abraham |
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Distinguished Professor and
Pan-Africanist Kinfe Abraham, who was the president of the Ethiopian
International Institute for Peace and Development (EIIPD) and the Ethiopian
Special Envoy to the Sudanese Peace Process, passed away on
Read More |
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ARCHIVE |
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For New
Banks, the First Steps May Be the Toughest |
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Five new banks are poised to enter the financial sector, attracted by
the unprecedented profits in the industry. The new
contenders, however, may not have anticipated the
looming threats to the industry. MICHAEL CHEBUD,
FORTUNE STAFF WRITER, looks at how the newcomers
will have
...
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VERBATIM |
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"By singling out Ethiopia for
public embarrassment, the bill puts Congress unwittingly on
the side of Islamic jihadists and insurgents." |
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Vicki Huddleston, a visiting fellow at the Brookings
Institution, and Tibor Nagy, a vice provost at Texas Tech
University, both former chiefs of mission at the American
Embassy in Addis Abeba, oppose HR 2003 in an opinion piece in
the New York Times. The article attacks the legislation, now in
the US Senate, which would limit aid to Ethiopia if the
administration of Prime Minister Meles Zenawi does not meet
certain human rights standards. |
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View Point |
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Ethiopian
running prowess goes past winning medals and cheering fans;
it is an engine for international name recognition. The
dominance the country enjoys in the sport can be used to
promote a positive image .... |
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Life Matters |
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Whatever skeletons of economic concepts that I may
have come across in my school days are now as
foreign to me
..... |
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View From Arada |
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While many urgently seek cheaper shelters, other
lucky winners of lotteries reap profits from studios
meant to ease the burden
.,. |
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