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News
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Column
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Addis Fortune Custom Search
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CBE
Sick Loans Drop to Record Low |
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For the first time in decades, the ratio of
non-performing loans (NPL) held by the state owned
Commercial Bank of Ethiopia (CBE) has been slashed
to below the internationally required amount of
10pc, disclosed a third quarter, un-audited report
of the Bank.
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24/7 Power for Exporters: Girma Orders |
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The Board of Directors of the Ethiopian Electric
Power Corporation (EEPCo), chaired by Girma Birru,
minister of Trade and Industry (MoTI), has
instructed the state utility monopoly to begin a
preferential treatment for companies engaged in
export, in a bid to provide them with
round-the-clock electric power supply. The Board
decided this on May 8, 2008, following concerns over
a potential failure to meet the nation’s export
target set by the Ministry. |
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Bureau
Slashes City Budget down to 3.9bn Br |
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The Finance and Economic Development Bureau of the
Addis Abeba Caretaker Administration has set a
budget ceiling for the 2008/2009 fiscal year that is
almost half of last year’s city budget, sources
disclosed. Officials of the Bureau informed heads of
the 61 agencies in the city administration that the
maximum capital and recurrent budget allocated would
be 3.9 billion Br. |
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Feature-Emirates Scales to New Financial Heights |
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Two
years after it started flying to Addis Abeba, Emirates
Airlines is galloping ahead, increasing its flights from
three in a week to daily. Both the number of passengers it
transports from Addis and the revenue it generates are on
the increase. |
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| Agenda |
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Ethiopia’s annual fertilizer consumption has been
increasing every year. Suppliers |
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| Editor's Note |
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In about a week, the political scale in the
city will go up. This is not because there
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| Economic
Commentary |
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Joseph E. Stiglitz, professor of Economics at
Columbia University, argues in this commentary, provided to Fortune by Project
Syndicate, that the central bankers’ bid to target inflation and adjust interest
rate accordingly will not take them very far. |
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Read More |
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Flu or Hypertension? |
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Stifled by a runaway inflation whose year-on-year average
picked to 22.9pc this month, what ails Ethiopia’s economy
has been a subject of fierce debate in parliament last week.
Tamrat G. Giorgis
and Endale Assefa, Fortune Staff Writers, and Tesfalem
Waldyes, Special to Fortune, have followed the
parliamentary discourse and the mixed public reaction that
has....Read More |
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VERBATIM |
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If he were to do that, I
believe the Prime Minister will commit a crime against Ethiopia. |
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Asheber W.
Giorgis (MD), the embattled chief of Ethiopia’s Football
Federation (at least in FIFA’s book) was quoted as saying, in
the Amharic weekly, Harambie, in protest at Meles
Zenawi’s declared intention not to run for office again and
statement that this may be his last term in office. Asheber, who
lost a by-election to the federal Parliament held three weeks
ago while running in Wereda 18 of Bole District, appealed to
EPRDF leaders not to let Meles go. |
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Will
Prime Minister Meles Zenawi run yet again for a
fourth term of office, come national elections in
2010? The Prime Minister has given conflicting
signals to various audiences: He has been telling
the foreign media that he "has had enough" ....... Read More |
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The
ruling party claimed a landslide victory during the recent
local and by-elections, and is in control of all local
administrative structures across the country. Opposition
parties, in particular the United Ethiopian Democratic
Forces (UEDF), ....
Read More |
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View Point |
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The
ultimate success of any corporate entity depends, to a large
extent, on the effectiveness and efficiency of its
management. Sound knowledge, as well as... |
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Life Matters |
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I
begin writing this column this week, a bit anxious
and dismayed. Although there may be a significant
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View From Arada |
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“Water is life,” Gabi, a hydrologist by profession
and an MSC graduate from India, told his students,
... |
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