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Foreign Affairs Minister Seyoum Mesfin (top left),
chatting to a leading businessman in Ethiopia, the
Ethiopian-born Saudi national, Sheikh Mohammed
Hussein Ali Al-Amoudi (top right), at the occasion
of Derba-MIDROC Cement Plc signing the landmark 200
million dollar loan agreement with financiers -
three international and one local - on June 23, 2008
at Al Amoudi's own Sheraton Addis. Dressed in
traditional Middle Eastern attire, which he does not
frequently wear, the tycoon hilariously remarked,
"Despite my change of dress, I'm still the same
Mohammed."
Ethiopia's top diplomatic figure, Seyoum Mesfin,
attended the event, to which a Saudi delegation,
comprising of the Ministers of Agriculture and
Trade, as well other officials from the Kingdom, was
also part. The occasion seemed a perfect platform to
lobby for more Saudi investment in Ethiopia. |
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Central Bank Sacks General Manager of Nile
Insurance |
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The National Bank of Ethiopia
(NBE) has shaken executives at Nile Insurance S.C.,
rejecting two of the seven elected members of the
board of directors it was requested to approve. A
letter signed by Wondwossen Etefa, head of Insurance
Supervision Department at the central bank, and sent
to Nile last week eliminated Worku Megra and Michael
Seyoum from membership of the board. |
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Taking
Judgment to the Skies |
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A
new draft Aviation Proclamation Bill proposes giving
jurisdiction to federal courts to rule over offences
committed in Ethiopian registered aircrafts. |
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First Meeting for New City Lease Board This
Week |
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The just established Addis Abeba City Government
Land Development and Administration Authority Lease
Board, under the chairmanship of Mayor Kuma Demeksa,
is to hold its first meeting this week. City General
Manager, Mekuria Haile, is its Deputy Chairperson. |
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Federal
Audit Report Riles Opposition |
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Disappointed opposition MPs called on Parliament to
arrange further deliberations over the Auditor
General's report, which discovered a horrifying
misuse of budget and unlawful expenditure by many
Federal Government institutions. |
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Bankers to Request PM for More Deliberation
on Banking Bill |
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Bankers who were against the draft Banking Business
Proclamation agreed last week to write a letter
after deliberations on the issue late on Friday June
27, 2008. |
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Hunger under Control: Addisu Tells Parliament |
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The Deputy Prime Minister turned the Federal
Parliament into chaos last week, once again emitting
a bold statement that the drought that has hit the
country is under control. He was rather in a defiant
mood, disparaging humanitarian agencies at the time. |
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Abernossa Acacia Trees under Axe |
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Environmentalists have furiously protested against
the clearance of acacia trees, at Abernossa, East
Shoa Zone of the Oromia Regional State by a
Pakistani investment firm, MARYAM. Rift Valley
Working Group, an environmental activist group, has
written a letter to Abadula Gemeda, president of the
region, requesting an immediate halt of further
clearance of trees in the area. |
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Road Construction Projects to Get Revolving
Fund |
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The government is to establish a revolving fund to
rotate finances whenever shortages occur in road
projects, due to failures by financiers to fulfill
their promises. |
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WFP Purchases Pea Beans from Ethiopia
Commodity Exchange |
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The World Food programme (WFP) purchased 100 metric
tonnes of grade one white pea beans from the
Ethiopia Commodity Exchange (ECEx) on Thursday June
26, 2008. The pea beans will be provided to WFP
beneficiaries embraced in the Urban HIV/AIDS
Programme to meet the bare nutritional necessities
of the victims. |
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One More Ethiopian Receives Japanese
Prestigious Award |
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General Manager and shareholder of Ethio–Nippon
Technical Co. Ltd, Berhanu Yoseph, won the Order of
the Rising Sun, Gold and Silver Rays – the 5th class
of the 2nd most exalted honour given in Japan.
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Primary Schools in Ethiopia to Reach IT Age
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One Laptop Per Child (OLPC) Project, a programme
under the supervision of the Engineering Capacity
Building Program (ecbp) of the Ministry of Capacity
Building, is going to be implemented from September
this year. |
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Council to Approve Next City Budget |
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The City Council has 138 seats, of which, the
Ethiopian Peoples Revolutionary Democratic Front (EPRDF)
won all but one of them, which went to the
Opposition Coalition for Unity and Democracy (CUD).
Some of the tasks it enjoys include forming the city
government executive body, approving its budget, and
designing strategic plans. The Council has a
five-year term during which it has to hold regular
sessions every two months, according to the City
Charter. |
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Ethiopia, Sudan OK with Proposed Dams; Egypt
Deviates |
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Egypt differed with Ethiopia and Sudan over a study
on the potentials of the Eastern Nile undertaken
jointly by the UK and France based firms, Scot
Wilson and EDF, respectively. |
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