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Amhara Bank in dispute with commercial banks over unpaid interest
Amhara Bank is at loggerheads with 10 banks over repayment of interest on the paid-up capital it has collected.
Export Disruption in Tigray costs Ethiopia USD 20 mln per month
Ethiopia loses USD 20 million (800 million birr) per month in exports due to the closure of factories and mining plants in Tigray, following the fighting between the Federal government and the forces of Tigray People’s Liberation Front, according to the Ministry of Trade & Industry.
End of the peak season that never was
Even before it made it to UNESCO’s list of Intangible Cultural Heritages of Humanity, Timket (Ethiopian Epiphany) had always been popular among international tourists. That history, however, seems to have taken a serious blow this time around.
New law allows ethio telecom go global
The new establishment regulation of ethio telecom approved by the Council of Ministers two weeks ago allows the company to invest in the international market, the telecom giant announced in a press briefing held at Hyatt Regency Hotel on January 21, 2020.
Central Bank approves another stimulus package for Hospitality Sector
The National Bank of Ethiopia (NBE) approved a new financial stimulus package for the hospitality sector in response to the Coronavirus pandemic that has disrupted the tourism sector for almost a year.
Remittance-Induced Fear
Last week, the National Bank of Ethiopia introduced a new rule that forces depositors make a maximum of five transactions per week.
Silent Depreciation of Birr: Misplaced Concern or Practical Reality?
A decade ago, ETB17 was equivalent to a dollar. As the years rolled and following the repeated devaluation of the currency in order to boost the international competitiveness of the import-dependent country, the value of the Birr has been reduced by as much as 130%.
At USD37.5, Ethiopian workers earn lowest wage among major producers of coffee
Ethiopian laborers in the coffee sector earn 10 times lower than their counterparts in major coffee producing countries, a new study conducted by the International Labor Organization revealed.
Ethiopia’s Economy in 2021
The Coronavirus pandemic and the heightened level of natural disasters across the world prompted people from across the globe to be a bit superstitious about the year. Downtoearth.org reported that there was an increase of at least 27 percent in natural disasters in the first half of 2020 than recorded during the same time in 2019.
Association calls for adjustment of wage based on Inflation
Ethiopian Economics Association (EEA) calls for the adjustment of wages of senior citizens and pensioners by taking the inflationary pressure into consideration.
