Dancing the bio-fuel samba
By Tesfu Telahoun To describe Ethiopia as a large country is to understate the sheer size of this truly vast nation of nations. Whether from the vantage of a bird’s eye view…
Ethiopia set to boost revenue 52 percent
The Ethiopian Revenue and Customs Authority set to increase government revenue for the fiscal year 2009/10 (July 8, 2010 – July 7, 2011) by 52 percent from last year.
On Earth as it is in Heaven…
Since the dawn of civilization and up to the late 1960s, Ethiopia has played prominent even leading roles in the world history and loomed even larger on the African stage. Contemporary African…
Ethiopian banks’ revenue grew to 24 percent
The total profit of commercial banks in Ethiopia, grew by 24 percent this year as compared to the similar period last year. This is excluding the new private banks, which have not began…
Ethiopia fails to meet reserve fuel target
The Ethiopian Ministry of Mines and Energy (EMoME) failed to meet national target of increasing reserve oil of the country to 588,000 cubic from it was at 130,000 cubic meters five years…
Nyota Minerals buys 80 percent share in Ethiopia
Following approval received at shareholder meeting last week, Nyota Minerals Ltd. (NYO.AU) announced yesterday, June 14, 2010 that it acquires 80 percent interest in land package totaling over 4,500 km2 of highly…
Ethiopia to boost budget 20 percent
Ethiopian Minister of Finance and Economic Development (MoFED) presented to the Parliament a 20 percent national budget increment (1.5 billion USD) for the coming fiscal year (July 8, 2010 to July 7,…
Ethiopia GDP per capita hikes to 217 USD, says government
Ethiopian government says country’s GDP per capita has now reached 217 USD from 164 USD five years ago.
Ethiopia shifting economic partnership from West to East
Trade privileges from Europe’s Everything But Arms (EBA) and America’s African Growth Opportunity Act (AGOA) are not stopping Ethiopia from shifting its historic economic partnership with the West to the East, a…
Ethiopia continues investing in power
Continuing its investment in power projects, Ethiopia inaugurated today (May 14, 2010) the Beles hydroelectric power generation plant, which cost a total of 7.1 billion birr (around 500 million USD).
Ardent Energy Group to outsource biofuel farm in Ethiopia
Ardent Energy Group Inc, a Nevada Corporation with a branch in Ethiopia engaged in a biodiesel fuel development announced that it is going to outsource its farming project in Ethiopia to farmers.
Economists advise Ethiopia to revise energy policy
Researchers at the Ethiopian Economic Association (EEA) advised Ethiopian policy makers to revise the existing national energy policy to overcome the current energy crises.
US advises Ethiopia to liberalize telecom, finance sectors
The United States government has advised Ethiopia to liberalize its telecommunications, banking and insurance sectors to attract broad foreign investment.
Saudi Star to install first rice processing plant in Ethiopia
Saudi Star Agricultural Development Plc, which is currently engaged in commercial rice farming in Ethiopia, is to construct rice processing factory with an investment capital of 125 million birr (around 9.6 million…