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Column
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The Two Sides of Meles |
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Prime
Minister Meles Zenawi appeared to be in an upbeat
mood on late Wednesday afternoon, June 24, 2009,
when speaking to the international media and
journalists from the English press. He was witty in
his remarks and directly answered some of the
personal questions.
The press conference, which now appears to be held
consistently, approximately every two months, was
called on the backdrop of the sensational statements
he gave to the international press the same week.
PLEASE SEE FULL STORY
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PLEASE
SEE THE INTERVIEW |
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Jihadists Pose No
"Clear and Present" Danger |
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No Significant Disagreement with the IMF |
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If You Don't Like the
Heat you leave the Kitchen |
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Thy Neighbours . . . |
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More
News..... |
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Sweet
Deal, Finally |
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The Tendaho Sugar Factory Project Office made an
advance payment of 16.6 million dollars to Overseas
Infrastructure Alliance Private Limited (OIA) to
commence the construction of the factory as
disclosed by officials at the project office. |
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ECX to
Update Communication Technology |
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The Ethiopian Commodity Exchange (ECX) has awarded
the project for the development of software to
introduce the Short Message System (SMS) and an
Interactive Voice Response (IVR) to Apposite LLC, a
local branch of a US based IT company, EXC officials
disclosed. |
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Ministry Suspends Swine Flu Sensor |
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The Ministry of Health (MoH) suspended plans to
install a remote sensor at Bole International
Airport, sources disclosed. |
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Insurance
Companies Hunt for Answers to Global Downturn |
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The impact of the global economic crisis on the
Ethiopian insurance industry is expected to result
in the decline of the growth rate of premiums for
all classes of business from 48.96pc in 2007/08 to
22.03pc this year, disclosed a paper presented at
the 12th workshop of the Society for Insurance
Professionals (SIP). |
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“Maintain
Suspension,” Finn Flower Pleads |
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The Finn Flower Africa PV, a Dutch based private
company, has appealed to the Federal First Instant
Court not to lift the suspension imposed on the ET
Highland Flora’s bank account and on the owner’s
right to sell or transfer it to a third party.
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Queue Manager in Line with Bank's Management |
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The Commercial Bank of Ethiopia (CBE) has introduced
a new technology branded Queue Manager, as a pilot
project at six of its main branches in Addis Abeba
as of early April 2009. |
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First African Owned DStv Plan |
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HiTv Nigeria and
Paconet Media, a Nigerian and Ethiopian private
company, announced an ambitious plan to foster an
indigenous media and entertainment industry in
Africa as a nascent source of economic development. |
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Africa Sees Mixed Prospect in Sinking Global
Economy |
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Amid continued uncertainty about the prospect of a
global economic meltdown a report authored by two of
Africa's key economic institutions offered mixed
projections on the continent's growth in the near
future. |
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Africa Sees Mixed Prospect in Sinking Global
Economy |
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Amid continued uncertainty about the prospect of a
global economic meltdown a report authored by two of
Africa's key economic institutions offered mixed
projections on the continent's growth in the near
future. |
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Silent Auction |
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The Commercial Bank of Ethiopia (CBE) has postponed
the foreclosure of the mortgage properties owned by
Ethio Investment Group Plc (EIG) to an unidentified
date because no bidder attended the last Thursday’s
auction. |
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Sarbet - Mek'anisa Road Construction Causes
Bottlenecking |
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The construction of a 30m cross-sectional
round-about, on the segment of the Sar Bet-Mek'anisa
road, near the Africa Union headquarters, has caused
traffic congestion on the Tor Hailoch main route and
other artery roads. |
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News-
June 21, 2009 |
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Council Passes Bill on Dirty
Money |
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The Council of Ministers has endorsed a bill on
Friday, June 19, 2009, criminalizing the practice of
money-laundering. It sent this bill to Parliament
for final approval in what industry experts say is a
long overdue law. |
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Addis to Get 6.6b Br Budget
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Contrary to the trend on the federal level and its
own record of the past four years, the Addis Abeba
City Council may have to vote on a new budget bill
that is substantially lower from the budget of the
current fiscal year, reliable sources disclosed.
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Africa Bus Association Wins
Case against Former Board |
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The Cassation Bench of the Supreme Court has decided
in favour of the largest bus association in the
country: It ruled that a new board of directors was
elected fairly. The ruling on June 3, 2009, upheld
the decision by the Federal First Instance Court.
The case was brought to the Cassation Bench after it
was overtunred by the Federal High Court and the
Supreme Court, favouring the former board of
directors of the Africa Alem Public Transport Bus
Owners Association.
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Finance Ministry to Move
Accounts from Central Bank to CBE |
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The Ministry of Finance and Economic Development (MoFED),
the Central Bank and the Commercial Bank of Ethiopia
(CBE) will sign an agreement on an improved method
of handling the accounts of government agencies. |
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Court Tells Central Bank to
Stop “Nuisance Actions” |
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The Federal First Instance Court ordered the
National Bank of Ethiopia (NBE) to “stop nuisance
actions” against the Labour Union of the bank. |
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News-
June 14, 2009 |
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WB Approves $90m for East
Africa’s Agricultural Productivity Program |
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The World Bank’s Board of Executive Directors
approved 90 million dollars to strengthen
agricultural productivity and growth in the East
African region. The program will benefit Ethiopia,
Kenya and Tanzania with an allocation of 30 million
dollars each. |
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Through the Grinds |
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Six individuals with top managerial positions in
coffee export companies were sent to the Maekelawi
detention centre on Wednesday June 10, 2009, for
allegedly hoarding export coffee, sources disclosed.
The six coffee exporters: Mullege Plc, S. Sara
Coffee Exporter, Legesse Sherefa, Kemal Abdulla
International, Seid Yassin Ali Coffee Exporter and
Arsede, and other 88 suppliers have been out of
action when the government revoked their licences
and shutdown their warehouses, accusing them of
hoarding the countries principal export commodity
and foreign currency earner. Their stock coffee was
taken over by the government. |
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Three Denied Bail in RCuA Case |
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The Federal First Instance Court, last Thursday,
gave an additional seven days for the Revenues and
Customs Authority (RCuA) to further investigate
three of the eight individuals arrested, for their
alleged involvement in tax evasion a week ago. |
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