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TOUGH tIMES, iNDEED! |
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The passing and enforcement of
legislations on trade practice and
consumers’ protection as well as the
commercial registration and business
licensing have been given credit for
the havoc in the business community
and the subsequent sense of
insecurity experienced by its
operators in the supply chain from
wholesale to retailers. Senior
ministers’ bid to promote the
substance of these legislations
passed by Parliament last year had
taken place with little fanfare last
Thursday, March 17, 2011, when close
to 500 people of thousands, invited
to the Millennium Hall, were in
attendance. Even among the few who
came to the meeting, large numbers
walked out before the meeting was
over while the ministers were
speaking. Embarrassed, Eyesuswork
Zafu (center), president of the
Ethiopian Chambers of Commerce and
Sectoral Association, was compelled
to apologise to Abdurahman Sheikh
Mohammed (right), minister of Trade,
and Ahmed Tusa (left), state
minister, on behalf of those who
walked out. The ministers were in
for a surprise where they were
received with criticisms to the lack
of coordination between the MoT and
the revenues authority, the absence
of proper consultations with the
business community before
legislations are passed as well as
what businesses called “continued
restrictions on businesses.”
Find Out More |
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NEWS |
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No Fond
Memories of Abdourahman Boreh: Says Meles |
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Djibouti’s self exiled businessman-cum-politician,
Abdourahman Boreh, may have withdrawn his candidacy
from the April presidential elections in Djibouti,
demanding the return of Democracy International (DI)
to that country, as one of the preconditions. |
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National
Bank bans Ermyas Amelga from Position as Board Chairman |
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The
National Bank of Ethiopia (NBE) has banned Ermyas
Amelga, board chairman of Zemen Bank SC, and Tekle
Aleminh, board director, from their positions. |
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Ministry
Touts Increased Gold Sales |
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The
Ministry of Mines (MoM) announced that it has sold
3,942.2kg of gold to the National Bank of Ethiopia (NBE),
and has exported jewellery and tantalum worth 171.7
million dollars. |
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Family
Reclaims Harambe Hotel |
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The
Harambe Hotel business, which includes 48 rooms in
an eight-storey building, was returned to the heirs
of the late Getaneh Worku, who was the hotel´s
original manager before it´s nationalisation. |
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Farewell to
Birtukan Mideksa |
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Ethiopian opposition leader Birtukan Mideksa, 36,
announced that she has stepped down from the
leadership of her party, the Unity for Democracy and
Justice (UDJ) Party claiming that she wanted to
pursue higher education in the US. |
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Africa Oil
Ready for Exploration in Ethiopia |
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Africa
Oil Corporation has completed an airborne gravity
and magnetic survey, the required initial survey for
the exploration of petroleum, on the Rift Valley
Block of South-Western Ethiopia, three weeks ago. |
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Fight for Black
Gold |
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Over
1,000 labourers in the Akaki Kality District allege
that they are to lose their jobs unfairly because of
a government decision to redistribute the quarry
they work on. |
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Economic
Gain Brings Russia, Ethiopia Back Together |
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The
Memorandum of Understanding (MoU) which was signed
by Alemayehu Tegenu, minister of Water and Energy (MoWE),
and Anatoly Ledovskikh, head of the Russian Mineral
Resources, aims to enhance ties between the two
nations in the areas of trade, technology, and
economic cooperation. |
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Indo-African
Summit, Focus of Deputy PM’s Visit |
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India´s
deputy minister of foreign affairs, Vivek Katju, met
with Hailemariam Deselegen, Ethiopia’s deputy prime
minister and foreign affairs minister, this week in
Addis Abeba on March 17, 2011, as part of a
preparatory meeting for the Second Indo-Africa
Summit scheduled for May 21-25, which will be hosted
by Ethiopia. |
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Agriculture
Ministry’s Promise of More despite Shortcomings |
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The
Ministry of Agriculture (MoA) has identified and
added 1.9 million hectares to its land bank which it
plans to lease out for development. |
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Ethiopia
Says Patience with Eritrea Runs Thin |
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Ethiopia’s long held policy of detente towards
Eritrea’s alleged transgression and its leaders’
belligerence is possibly shifting to an active
pursuit of regime change, according to series of
remarks made last week by senior officials of the
Ethiopian government. |
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New Edible
Oil Refineries to be Inaugurated |
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Ashraf
Agricultural Industrial Complex plc, a Sudanese
company, has completed construction on two edible
oil refineries in Bahir Dar, which have the capacity
to produce 50tn of edible oil per day. |
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FEATURE |
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Transport
Companies Facing Slowdown in Business |
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Abush Abebe, 26, has worked in the
transportation business as a driver’s assistant for
the last 10 years starting after his father’s
passing. He is now the only bread winner for his
three underage sisters and his mother. |
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Traders
Seeking New Markets for Hide Products at Trade Fair
 |
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Local visitors
to the All African Leather Fair, held at Millennium Hall
last week, came away with mixed feelings, as some were
prevented from making purchases for having the wrong
currency at hand, while others claim to have been delighted,
and especially impressed with locally made leather goods... |
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INTERVIEW |
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With Tim Hitchens
Director for Africa at the Foreign Commonwealth Office of the UK
government |
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No Fragile State
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Local visitors
to the All African Leather Fair, held at Millennium Hall
last week, came away with mixed feelings, as some were
prevented from making purchases for having the wrong
currency at hand, while others claim to have been delighted,
and especially impressed with locally made leather goods... |
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