The bill was passed today with only three MPs voting in opposition following a lengthy discussion in Parliament today.

Among those who opposed the bill was Desalegn Chane (PhD), who argued the National Bank of Ethiopia (NBE) lacks the capacity to regulate foreign banks.

He fears liberalizing the industry would crowd out domestic banks and hurt small and medium businesses by funneling finance towards large conglomerates.

Desalegn also questioned what the move would mean for industry shareholders, particularly those who own stakes in recently formed third generation banks.

Central bank Governor Mamo Mihretu, however, brushed aside the concerns and stated the bill would enable the NBE to scale up its regulatory prowess.

For Azerbaijan, the 44-day war in 2020 wasn’t just a conflict; it was reclamation of identity. Ambassador Ruslan shared how, after nearly three decades of stalled negotiations and heartbreak, Azerbaijan finally liberated its Garabagh region and regained control over long-lost territories. His voice reflected the weight of history, paying tribute to the nearly 3,000 Azerbaijani soldiers who gave their lives in a mission that culminated in the liberation of Shusha. For the people of Azerbaijan, Shusha represents more than just land; it’s a cultural touchstone, a piece of their soul.

“Some truths are hard for others to accept,” Ruslan said, acknowledging the lingering international resistance to this new reality. His words painted a picture of a people finally able to breathe freely in their own land, a reality hard-earned, and all the more cherished for it.

Despite the victory and the long-sought return of their homeland, Azerbaijanis know that the path forward isn’t free of obstacles. As Azerbaijan prepares to host COP29, there has been criticism, especially in Western media, questioning whether an oil-producing country should lead a climate summit. Ambassador’s response to these criticisms was heartfelt, almost weary of explaining the obvious: “Most of COPs have been held in oil- and gas-producing countries,” he pointed out.

To him, these critiques are not truly about Azerbaijan’s environmental record, which is in fact is an example for many to achieve, but rather reflect a lingering unwillingness to see Azerbaijan as a sovereign, capable and independent nation. There’s a discomfort, he implied, with Azerbaijan’s independence, its ability to assert itself on the world stage. This frustration echoed the challenges many nations face when they dare to forge their own paths, defying the expectations or reservations of some power actors.

The highlight of Ambassador Ruslan’s message was the theme of unity. He introduced the audience to We, a documentary capturing the everyday lives of Azerbaijani citizens who stood strong during the war. The film shows farmers, teachers, mothers, and soldiers, ordinary people facing extraordinary circumstances. Their stories go beyond national pride; they speak to the resilience of a people who understand that their strength lies in standing together, no matter the odds.

“We,” “is not just a word; it’s a promise.” This documentary is a reminder that Azerbaijan’s victory wasn’t solely about reclaiming land; it was about reclaiming a sense of belonging and identity. For Azerbaijanis, this achievement has forever reshaped how they see themselves and their place in the world.

The address also underscored a reality with the double standards that Azerbaijan and many nations from the Global South experience on the world stage. For him, Azerbaijan’s story isn’t just about a single victory; it’s about pushing back against narratives that diminish the sovereignty of nations.

The message was clear: Azerbaijan will continue to stand tall, a nation ready to claim its place and be seen on its own terms. The speech resonated deeply with the audience, many of whom understood the complex dance of diplomacy in a world that often holds different countries to different standards.

As emphasized, the unity that brought Azerbaijan to victory under the leadership of Commander-in-Chief, President Ilham Aliyev remains the country’s strongest asset. it’s a bond that transcends politics and touches the very fabric of Azerbaijani life, a promise that, no matter the challenges, they will face them together.

As Azerbaijan continues its journey, the spirit of the 44-day war remains a beacon, a reminder of the power of resilience and solidarity. In the years ahead, Azerbaijan is set to play a more prominent role on the world stage. Not as a nation to be judged or questioned, but as one that has proven its strength, earned its sovereignty, and is ready to engage the world with confidence.

The address on Victory Day was more than a political speech; it was a heartfelt call to action, a reminder of what it means to be Azerbaijani, and a celebration of a people who have proven time and again that their unity can carry them through any challenge. As Azerbaijan moves forward, it does so with the pride of a nation that knows its worth and the determination to continue building on a hard-won legacy.

The entrance of Dugda Fidelity Investment PLC, Ethio Independent Forex Bureau, Global Independent Forex Bureau, Robust Independent Forex Bureau, and Yoga Forex Bureau marks a significant milestone in the country’s fast-changing forex market.

The firms will be able to exchange up to USD 10,000 in cash notes without a customs declaration and larger amounts with one.

They are also able to sell up to USD 5,000 to customers preparing to travel overseas for personal reasons, and double the amount for those traveling abroad for business.

The bureaus are barred from conducting import or export transactions as well as obligated to conduct on-the-spot transactions only.

Judges at the Federal High Court have also rejected an appeal from Committee President Ashebir and his fellow defendants, ordering that the injunction is to remain in place until they are due to appear in court next month.

Plaintiffs led by renowned athlete Haile Gebreselassie allege that Ashebir led an awards ceremony organized at the Marriott Executive Apartments in Addis Ababa just one day after the Federal High Court ordered a freeze on the Committee’s bank accounts. They accuse Ashebir of doling out millions of birr tied to these accounts to media professionals and other individuals during the ceremony.

“We will continue to give out prizes even though we’ve been barred from doing so by the likes of Haile Gebreselassie,” Ashebir allegedly said during the ceremony.

The plaintiffs have requested the court to recommend a criminal prosecution against the defendants for allegedly violating Article 443 of the Criminal Code.

The court is set to convene on October 11, 2024.

 Innovative technology brand TECNO today teased its groundbreaking PHANTOM ULTIMATE 2 – an ultra-thin tri-fold concept smartphone that reimagines the large-screen experience in a pocket-sized device. In its folded form, PHANTOM ULTIMATE 2 is the thinnest among existing triple-folding models, measuring just 11mm in thickness. Unfolded, it reveals a giant 10” screen with TDDI technology for the first time in a foldable device. The new concept offers a glimpse into a more immersive, convenient and exciting future foldable smartphone experience. Building on previous designs, it addresses key pain points like hinge durability, camera performance, and software optimization, marking a significant leap forward in foldable innovation.

Ultra-thin Tri-Fold Design

PHANTOM ULTIMATE 2’s innovative tri-fold screen transforms the device from a standard candy bar smartphone into an incredible tablet-like large-screen device. Crucially, the tri-fold design does not mean a major compromise on thickness, measuring 11mm when folded, thanks to an innovative and thinner hinge that enables existing bi-fold models to achieve a thickness of less than 9mm. The device features the smartphone industry’s thinnest battery cover measuring just 0.25mm thanks to super compressed Titan Advanced Fiber material. Compared to the industry’s current thinnest 0.45mm thickness, this advanced material brings sufficient strength while allowing a thinner form.  

 Huge Immersive and Less Creased Screen with Super Durability and Thinner Hinges

Unfolding from a 6.48” candy bar phone into an impressive 10” 4:3 ratio large-screen tablet-style device, PHANTOM ULTIMATE 2 gives users more flexibility to users to use the device as they wish. To support this upgrade in convenience, the device features OLED Touch and Display Driver Integration (TDDI) and an advanced 3K LTPO screen with 392 PPI.

Empowering the tri-fold screen experience is a state-of-the-art hinge design with incredible 2100MPa strength. The hinges can support over 300,000 folds, exceeding most folding devices and offering exceptional device longevity and folding smoothness. The hinges also contribute to the device’s superbly flat screen, minimizing the crease visibility for more immersive viewing pleasure.

Unleashing Versatile Scenarios and Optimized UI for a Cutting-Edge Foldable Experience

PHANTOM ULTIMATE 2 supports screen hovering to open up new possibilities across a diverse range of scenarios, from work to entertainment and daily life. For communicating across language barriers, the device can be folded into tent mode for dual-screen face-to-face real-time AI translation.  PHANTOM ULTIMATE 2’s advanced software and UI specifically optimized for the tri-fold design further enhance the utility of its cutting-edge hardware. For example, the device supports dynamic wallpapers and adaptive icons that adjust with folding and unfolding, while the UI layout is adapted for diverse use cases such as large-screen viewing and tent mode, as well as having the potential for exciting third-party app adaption.

About TECNO

As a global innovative technology brand with operations in over 70 markets, TECNO has been committed to revolutionizing the digital experience in global emerging markets, relentlessly pushing for the perfect integration of contemporary, aesthetic design with the latest technologies. TECNO offers a wide range of smartphones, smart wearables, laptops and tablets, HiOS operating systems and smart home products. Guided by its brand essence of “Stop At Nothing”, TECNO is committed to unlocking the best and newest technologies for forward-looking individuals, inspiring them to never stop pursuing their best selves and their best futures. For more information, please visit TECNO’s official site: www.tecno-mobile.com.

Teshome, whose appointment covers both consular and ambassadorial roles, has been offered a warm welcome by Somaliland President Muse Bihi, according to the Ministry of Foreign Affairs.

The two have already held discussions on several key issues, including regional security and bilateral cooperation, according to the Ministry.

The Tecno CAMON 30 Pro 5G redefines luxury with its innovative design, bringing an unparalleled tangible experience to the palm of your hand. CAMON introduces a revolutionary leather-like material a texture, providing a unique and sophisticated feel. This material ensures a lotus leaf-like perfect hydrophobic touch, maintaining a consistently refreshing grip even amidst sweaty palms. The exclusive Nature Flow texture technique transforms each phone into a one-of-a-kind masterpiece, making every touch similar to a luxury.

Every detail of the CAMON 30 Pro 5G is accurately crafted to provide a sense of luxury and elegance, setting a new standard in smartphone design.

Beyond its stunning appearance, the Tecno CAMON 30 Pro 5G Pro is a powerhouse of performance, thanks to its collaboration with TSMC’s flagship process. The result is an unprecedented super-smart chip that pushes image processing to new heights and elevates gaming experiences to the ultimate level. The enhanced processing capabilities ensure that every frame is fascinating, making the CAMON 30 Pro 5G an ideal companion for gamers and photography enthusiasts alike.

The advanced cooling system, featuring all-round three-dimensional heat dissipation technology, ensures that the phone remains cool even during intense gaming sessions. This upgrade guarantees an unprecedented fast gaming feast, with no more screen lag or software crashes to spoil the fun. Every trigger, every confrontation is smooth and responsive, making the CAMON 30 Pro 5G the ultimate gaming assistant.

The Tecno CAMON 30 Pro 5G also excels in battery life, boasting a 5000mAh large battery that ushers users into a new level of sustained endurance. This robust battery life allows you to delve into exciting games, relish TV dramas, or capture life’s beautiful moments without the constant concern of charging. The CAMON 30 Pro 5G promises to savor every moment life has to offer, ensuring that you stay connected and entertained throughout the day.

The Tecno CAMON 30 Pro 5G is more than just a smartphone; it is a fusion of fashion, lifestyle, and cutting-edge technology. With its luxurious design, powerful processor, and unmatched battery life, it stands as a testament to Tecno’s commitment to innovation and excellence. The CAMON 30 Pro 5G invites you to broaden your horizons and touch the extraordinary, making it the perfect choice for those who seek a blend of style and performance in their digital lives.

Petros Markos, director of Business Development and Communication emphasized the contributions of three key companies operating in both domestic and foreign markets. Looking towards the future, there is growing interest from both local and international investors to participate in activities within the park.

The Director revealed successful agreements with 28 local projects already signed, and highlighted the creation of both permanent and temporary jobs.

The Corporation controls Yirgalem Integrated Agro-Industrial Park (Yirgalem IAIP) which is located about 315km south of Addis Ababa) in south-central Sidama Region. The park, which sits on 294.5 hectares, focuses on processing organic products of dairy, avocado and coffee for the export markets.

SIPDC also manages the 3 Rural Transformation Centers (RTCs) which are situated within a 100-kilometer radius of the park at Bensa Daye, Aletawondo and Morocho. These RTCs serve as a linkage to Yirgalem IAIP in terms of raw material supply.

(2Merkato.com)

According to the forecast, a significant portion of the region, encompassing Kenya, Somalia, southern Ethiopia, South Sudan, Uganda, Burundi, Rwanda, and north-western Tanzania, will experience wetter than normal conditions. The March-May period is expected to receive up to 60% of the total annual rainfall, with probabilities being highest in central to western Kenya and in cross-border areas spanning Ethiopia, Kenya, and Uganda.

Conversely, certain areas, including parts of eastern Tanzania, western Ethiopia, western Eritrea, and localized regions in western South Sudan, are likely to face drier than normal weather conditions. Additionally, temperatures throughout the region are expected to be warmer than average, particularly in the northern area.

Stefan Lines of the Met Office in the United Kingdom urged stakeholders to stay informed about the latest forecasts by ICPAC, emphasizing the unpredictability of long rain seasons.

The warmer-than-usual phase of El Nino is currently being observed worldwide, and 2024 is expected to maintain or exceed the record-breaking temperatures experienced in 2023.

In Ethiopia, the Belg season, running from February to May, is anticipated to have above-normal rainfall but with variable patterns. The Ethiopian government’s report, “Impact Outlook of Belg 2024 on Sectoral Plan and Activities,” advised disaster preparedness activities due to the predicted drought in the northern part of the country during Belg.

The report further warned of potential adverse impacts, including floods, displacement of people, pest and disease outbreaks, disrupted harvesting, crop damage, and favorable conditions for desert locusts. It emphasized the need for strengthened emergency preparedness and response plans, surveillance in disease-prone areas, and effective implementation of interventions.

ICPAC Director GuleidArtan emphasized the importance of anticipatory action and timely emergency preparedness in the region to ensure the safety and prosperity of its citizens. The forum called for collaboration among stakeholders to integrate climate services into sustainable development efforts across the entire region.

(DownToEarth)

Led by its visionary major shareholders, Kahsay Kidane and his family, the company has recently achieved a significant milestone by becoming the first Isuzu vehicle assembly center in Ethiopia, which is inaugurated on October 14, 2023 at the presence of higher government officials and industry players.

This state-of-the-art factory, built under the technical support and supervision of Isuzu Motors Company, facilitates the transfer of invaluable knowledge and cutting-edge technology to Ethiopia’s automotive industry.

It will revolutionize the local automotive manufacturing landscape by producing 2,500 trucks per year.

Established in 2003, Kaki Motors boasts an extensive business portfolio that encompasses various sectors, including export, import, manufacturing, transport, and service. The company has also made strategic investments, holding shares in 13 commercial banks and 2 industries.

As an official dealer of Isuzu for vehicles and spare parts, Kaki Motors has garnered a wealth of experience in supplying Isuzu Trucks and parts. Additionally, the company has earned recognition as one of the leading exporters of agricultural commodities and a trusted freight transport service provider.

Kaki Motors’ establishment of the Isuzu vehicle assembly, sales, and after-sales center plays a pivotal role in job creation and bolstering the national economy.

Presently, Kaki Motors operates five vehicle and six spare parts centers, along with a dedicated repair service center and a primary spare parts and storage depot.

However, the company’s ambitions extend far beyond its current capacities. Kaki Motors aims to increase its production from the existing 200 vehicles per year to an impressive 2,500 vehicles per year. Such expansion plans are projected to generate over 1,500 additional jobs within the next five years, further contributing to the reduction of unemployment and fostering the growth of the national workforce.

During the grand inauguration ceremony, Gebremichael Girmay, the Managing Director of Kaki Motors, expressed his enthusiasm for the company’s accomplishments and its positive impact on the nation.

He emphasized that Kaki Motors has been actively involved in various sectors for over two decades.

The Managing Director highlighted the pivotal role played by the Isuzu vehicle assembly center in reducing unemployment and bolstering the country’s economy. “Our company places utmost importance on the development of human resources,” he stated. He emphasized that they engage with various educational institutions and actively seek to hire graduate students with exceptional academic achievements. The aim is to provide them with opportunities to apply their theoretical knowledge into practical settings.

Additionally, he highlighted that they have established a training center to offer continuous education, ensuring that professionals stay up-to-date with modern practices and technology.

During the inauguration, Mansur Ahmed, President of Isuzu Motors International, conveyed his strong belief in Ethiopia’s vast potential as a rising economic force in Africa. Ahmed stated, “I envision Kaki Motors as the thriving hub of the manufacturing sector in East Africa,” emphasizing the company’s pivotal role in the region’s industrial landscape.

In a detailed presentation during the inauguration, it was highlighted that Kaki Motors has made strategic investments aimed at elevating customer satisfaction. The sales and after-sales center, constructed at a cost of 450 million birr and spanning an impressive 20,000 square meters, signifies the company’s unwavering commitment to delivering exceptional services.

Similarly, Kaki Motors has established a car body manufacturing factory, offering customers a comprehensive range of options for their specific needs.

This integration of car body manufacturing within the production process has not only expanded customer choices but has also contributed to cost reduction by replacing imported products with high-quality local alternatives.

Moreover, Kaki Motors places utmost importance on providing excellent after-sales service to its valued customers. By implementing a new strategy for spare parts supply, the company ensures seamless availability of genuine spare parts. The dedicated spare parts sales team has witnessed remarkable success, achieving high sales volumes and catering to the diverse needs of customers.

This commitment to customer satisfaction and service excellence underscores Kaki Motors’ position as a trusted and reliable partner in the automotive industry.

Taking part during the recent inauguration of Kaki’s Isuzu assembly, the FDRE Minister of Industry H.E Melaku Alebel provided insightful statistics about Ethiopia’s high demand for logistics demand. The minister stipulated despite Ethiopia’s large area of over 1.1 million square kilometers, and road network extending 167,000 kilometers, there is limited players to bridge the huge logistics demand.

Minister Alebel pointed out that despite the vast road network, the total number of vehicles in the country is presently limited to a mere 1.2 million, constituting less than one percent of the population. In light of this, he emphasized the need to align vehicle production with the existing road conditions.

“It is important to establish adequate manufacturing facilities to support not only the importation of vehicles but also domestic production and assembly,” he remarked.

During the inauguration, the Japanese Ambassador to Ethiopia, Ito Takako, acknowledged Isuzu’s rich history and international success as the world’s premier truck manufacturer. Whereas, the Minister of Transport and Logistics, Alemu Sime, emphasized the economic growth across various sectors resulting from indigenous economic reforms and underscored the significance of promoting locally manufactured vehicles like Kaki Motors to enhance Ethiopia’s logistics performance.

In the realm of Ethiopia’s automotive landscape, Kaki Motors stands at the forefront, setting new benchmarks as the first Isuzu vehicle assembly center in the country. With its rich history, diverse business portfolio, and commitment to economic growth and job creation, the company has solidified its position as a key player in Ethiopia’s automotive industry.