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The Quiet Reshuffle! |
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The administration has reshuffled ministers around;
but the manner in which it was done has been kept
strangely quiet, taking followers of the
administration of Prime Minister Meles Zenawi by
surprise.
Find
Out More Here. |
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NEWS |
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Awash Bank Back in Controversy |
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It seems yet another controversy is brewing at Awash
International Bank (AIB) just as one started a year
ago that saw Leikun Berhau fired from the president
ship and in legal battle is abating. Five
shareholders have sued the bank at Lideta Federal
First Instance Summery Procedure Court ahead of its
general assembly to be held in the coming weeks.
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Ministry to Sign Exploration Agreement with South West |
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The Ministry of Mines (MoM) is to sign a Petroleum
Production Sharing Agreement with South West Energy
(SWE), an Ethiopian company registered in Hong Kong,
on concession of Gambella Basin located southwest of
Ethiopia. |
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Loan Approval of $60m for Bole Stands at Committee |
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The loan agreement of 60 million dollars with the
Export - Import Bank of China for the construction
of the road from Meskel Square to Bole Ring Road
Roundabout tabled to Parliament on Monday, November
7, 2011, has been sent to the City Development &
Construction standing committee for comments.
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All Round Increase Sees Wegagen top Industry in Paid Up
Capital |
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Wegagen Bank’s increase of 44.7pc in profit after
tax saw an increase of Earnings per Share (EPS) by
17.9pc from 380 Br to 448 Br per share in2010/11
fiscal year. Following this announcement,
shareholders of the bank approved a cash dividend
amounting 37.3 million Br at the 18th general
assembly meeting held at Hilton Hotel on November 5,
2011. |
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Ministry to Host Electricity Resources Database for Public |
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Following the completion of the first phase of the
Energy Sector Mapping & Database Development (ESMAD),
the Ministry of Water & Energy (MoWE) is to install
two servers to host the national database and make
it available to the public. |
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New Flower Export Measuring sees Trail on Seven |
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The draft directive that changes the unit of
measurement of exported cut flowers from stem count
to weight measure, which was met with outcry from
those in the sector, is being tested for a
fortnight, on select exporters, starting Friday,
November 11, 2011, before it is passed. |
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Pan-African Exchange Plan Sees Mixed Reception |
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The idea of a Pan-African Exchange is being promoted
by Bourse Africa Limited (BAL), a Botswana-based
exchange, including at the International Convening
on Commodity Exchanges in Africa, held in Addis
Abeba, for two days starting on November 8, 2011.
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Supreme Court Ends Brothers’ Nine-year Dispute |
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A dispute between two brothers, Kaleselassie Belay
and Dileadergachew Belay, over a loan of four
million Br, that involved the administration of a
five-storey building, has come to an end at the
Federal Supreme Court after nine years, with a
ruling in favour of Kaleselassie. |
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Women Lawyers Denied Access to Foreign Funds |
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The Ethiopian Women Lawyers’ Association’s (EWLA)
request to the Federal High Court Eleventh Civil
Bench to release 8.6 million Br that is being
blocked by the Ethiopian Charities & Societies
Agency (ECSA) Board was denied on October 28, 2011. |
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/FEATURE
Damaged, Outdated Traffic Lights Signal Need for Citywide
Solution |
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It may come as a surprise that Addis Abeba even has 28 sets
of traffic lights. Certainly, a much smaller number of them
can be seen in operation. With people’s time and safety at
risk, the city is in the midst of choosing a company that
will upgrade the capital’s traffic regulation system with
synchronised signals, writes MAHLET MESFIN, FORTUNE STAFF
WRITER. Until then, traffic police will have to deal with
the exhaustion of regulating traffic manually. |
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/FEATURE
New
Third Party Insurance Elusive as Deadline Approaches |
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The new compulsory Vehicle Insurance
Against Third Party Risks (VIATPR) brings a mix of pros and
cons to vehicle owners, writes ELLENI ARAYA, FORTUNE STAFF
WRITER. |
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/FEATURE
Tutoring
Industry Soars
CREATING EMPLOYMENT FOR RECENT
GRADUATES |
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Recent additions to the billboards
posted around Addis Abeba are advertisements, big and small,
announcing the availability of tutor services. Some of them
have catchy names like “B-smart” while many simply have
phone numbers along with the announcement. |
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