Tuesday 23 January 2018
(Global post 06/19/13)
CAIRO, Egypt — Egypt’s foreign minister is in the Ethiopian capital Addis Ababa today to diffuse a diplomatic standoff over access to the Nile River that had led President Mohamed Morsi to threaten his Ethiopian counterparts with the prospect of “war." Foreign Minister Mohamed Kamel Amr’s visit comes a week after Ethiopia's parliament voted to strip Egypt of its right to the lion’s share of Nile waters, and as Ethiopia vows to plough ahead with the construction of a controversial $4.7 billion dam that many in Cairo believe will limit the flow of Nile water to Egypt. Ethiopia hopes that its Grand Renaissance Dam will become Africa’s largest hydropower plant, generating 6,000 megawatts of electricity and creating a reservoir with...
(Addis Fortune 06/19/13)
Despite assurances from the minister of Finance & Economic Development, macroeconomists, MPs see the budget suspiciously. Sufian Ahmed, the minister of Finance & Economic Development (MoFED), faced one of the toughest confrontations from Members of Parliament (MPs) on Tuesday, June 11, 2013, while tabling the bill, amounting to 155 billion Br, on the budget for the coming fiscal year. MPs who were assembled to hear the federal budget proposal in the absence of Abadula Gemeda, speaker of the House, referred it to the Budget & Financial Affairs Standing Committee for further scrutiny. Over the next three weeks, members of the committee, chaired by Wanna Wake, are expected to debate on the budget proposal, before suggesting their recommendations to Parliament. For...
( 06/19/13)
42 Taiwanese businesses are in Ethiopia to explore business opportunities in the country. They will meet managers of companies dealing in ICT, solar panel systems, food and textiles, among others. These managers will have the opportunity to meet with the Taiwanese delegates to discuss opportunities for partnerships at sessions to be held at the Hilton Hotel. The conference follows last year’s visit by almost 30 Taiwanese firms to Addis Ababa, with a focus on clothing manufacturers. In 2012 Taiwan announced that it has no plans to open a trade centre in Ethiopia, as it already has a similar centre in Kenya and the majority of trade between the two countries takes place online. Taipei has encouraged Ethiopian businesses to approach...
(CBC News 06/19/13)
CAIRO, EgyptEgypt's foreign minister is in the Ethiopian capital Addis Ababa today to diffuse a diplomatic standoff over access to the Nile River that had led President Mohamed Morsi to threaten his Ethiopian counterparts with the prospect of "war." Foreign Minister Mohamed Kamel Amr's visit comes a week after Ethiopia's parliament voted to strip Egypt of its right to the lion's share of Nile waters, and as Ethiopia vows to plough ahead with the construction of a controversial $4.7 billion dam that many in Cairo believe will limit the flow of Nile water to Egypt. Ethiopia hopes that its Grand Renaissance Dam will become Africa's largest hydropower plant, generating 6,000 megawatts of electricity and creating a reservoir with a capacity...
(The Jerusalem Post 06/19/13)
The Knesset State Control Committee chairman says "we could have integrated them better and faster." The state has failed in the absorption of Ethiopian olim, Knesset State Control Committee chairman Amnon Cohen (Shas) said at a committee meeting on the subject that took place on Tuesday. “We could have integrated them better and faster,” he said. The meeting was convened to discuss improvement of Ethiopian integration efforts following the State Comptroller’s Report on the matter published earlier this year, which revealed, among other problems, a lack of coordination between ministries, a lack of knowledge of and familiarity with the issue by decision- makers, and an insufficient budget. Director-general of the State Comptroller’s Office, Shmuel Golan, said at the meeting that...
(Voice of America 06/19/13)
WASHINGTON, DC — In June, Japan made a five-year commitment of $32 billion dollars in public and private funding to Africa. It will be used in areas prioritized as necessary for growth by the Fifth Tokyo International Conference on African Development (or TICAD). Japan’s new pledge is nearly four times larger than its last commitment to the group. The plan of action is ambitious. Japanese funds will help in a number of areas, including trade, infrastructure, private sector development, health and education, good governance and food production. Boosting agricultural production. TICAD wants African agriculture to grow by five percent a year and double the output of one crop that’s also a main food source and cultural symbol for Japan: rice...
(Haaretz 06/19/13)
At a Knesset session, officials outline efforts to better support the struggling soldiers, who are five times more likely to be jailed, go AWOL, or desert. The percentage of Israeli soldiers from the Ethiopian community that are in military prison, absent without leave or have deserted is five times that of the general population, according to a military officer who spoke at the Knesset on Tuesday in a session dedicated to the issue. The Israel Defense Forces classifies soldiers who were jailed, went AWOL or deserted as having “failed in service,” and they estimate that 10 percent of those soldiers are Ethiopian, compared to 2 percent in the general population. The State Control Committee's session in the Knesset focused on...
(Addis Fortune 06/19/13)
High profile legal battles have seen trust evaporate from Ethiopia’s thriving real estate sector. The China Geo-Engineering Corporation (CGC), which has previously been engaged in the road construction sector in Ethiopia, two weeks ago started the construction of an international standard real estate complex, with three billion Birr capital. The construction is being implemented by Tisaye Real Estate Plc, established by CGC, as a major shareholder a year ago. The excavation work, which goes two metres down, has already begun on the 50,000Sqm plot of land, located around CMC on Asmera Road, leased by the real estate company from the Addis Abeba City Administration. The Complex, which is scheduled to be completed within two years, contains 21 buildings, a senior...
(Ethiopian Radio and Television Agency 06/18/13)
The World Bank says Ethiopia has the capability to achieve its plan to be a middle income country by 2020. The private sector is not growing as it is ought to, the Bank’s economic assessment of Ethiopia indicated. The report by the World Bank Ethiopia Office indicated that the current economic growth of Ethiopia is in a good condition. Inflation which was the major challenge of the economic growth is now down to a single digit, the report stated. World Bank Lead Economist Lars Christian Moller says the nation is in shape to be among the middle income countries in 2020, however, the fact that the private sector investment is remaining behind the public sector would be a challenge. Ethiopia...
(Ethiopian Radio and Television Agency 06/18/13)
Minister of Foreign Affairs Dr. Tedros Adhanom and Egypt’s Minister of Foreign Affairs Mohamed Kamel Amr agree to continue the dialogue for win-win solutions on the Nile Basin outstanding issues. The two ministers showed interest to strengthen bilateral relations and coordinate their efforts to reach an understanding regarding all issues between both countries on the basis of trust. With regard to the Grand Ethiopian Renaissance Dam (GERD), they agreed as per the Terms of Reference of the International Panel of Experts to immediately initiate consultations among Egypt, Ethiopia and Sudan. The consultation is intended to help move forward with the implementation of its recommendations. The Minister of Foreign Affairs of Ethiopia welcomed the Egyptian initiative to begin consultations amongst the...
(AFP (eng) 06/18/13)
Ethiopia and Egypt said Tuesday they have agreed to hold further talks on the impact of a huge Ethiopian dam project to quell tensions between the two countries over water-sharing. "We agreed that we will start immediately on consultations at both the technical level... and the political level," Egyptian Foreign Minister Mohamed Kamel Amr told reporters after meetings in Addis Ababa with his Ethiopian counterpart Tedros Adhanom. The countries have been embroiled in a heated row after Ethiopia began diverting the Blue Nile River last month for the construction of the 6,000 megawatt Grand Renaissance Dam. Egyptian President Mohamed Morsi warned this month that "all options are open" over construction of the dam because of concerns about the impact on...
(Ahram Online 06/18/13)
Ethiopian foreign minister is expected to visit Cairo soon to continue talks after his Egyptian counterpart visited Addis Ababa. Egypt, Sudan and Ethiopia will start negotiations on recommendations by a technical committee on the Ethiopian Nile dam project, a joint statement by Egypt and Ethiopia's foreign ministers said on Tuesday. The foreign and water resources ministers of the three countries are expected to start negotiations on the political and technical aspects of Nile water division, read the statement. Ethiopia's Foreign Minister Tedros Adhanom has also accepted his Egyptian counterpart's invitation to visit Egypt soon. The statement comes as Egypt's Foreign Minister Mohamed Kamel Amr's visit to Addis Ababa comes to a close. On Tuesday Amr will travel to Sudan, where...
(News24 06/18/13)
Addis Ababa - Ethiopia and Egypt have agreed to hold further talks on the impact of an Ethiopian dam to quell tensions between the two countries, the foreign ministers of both nations said on Tuesday. "We agreed that we will start immediately on consultations at both the technical level... and the political level," Egyptian Foreign Minister Mohamed Kamel Amr told reporters, after meetings in Addis Ababa with his Ethiopian counterpart Tedros Adhanom. The countries have been embroiled in a heated row after Ethiopia began diverting the Blue Nile River last month for the construction of the 6000 MW Grand Renaissance Dam. Concerned over how the dam could impact downstream water levels, Egyptian President Mohammed Morsi warned that "all options are...
(BBC News Africa 06/18/13)
Ethiopia and Egypt have agreed to hold further talks to quell tensions over the building of a new dam on the Blue Nile, their foreign ministers say. Ethiopia's Tedros Adhanom said the two nations have chosen to swim rather than sink together, AFP news agency reports. He met his Egyptian counterpart Kamel Amr after Egypt opposed Ethiopia's plans for a hydroelectric dam. Egypt is worried that the dam will reduce the water supply vital for its 84 million people. Last week, Egypt's President Mohamed Morsi said he did not want war but he would not allow Egypt's water supply to be endangered by the Great Ethiopian Renaissance Dam. Previous statements about the dam had been made "in the heat of...
(New Business Ethiopia 06/18/13)
Ethiopian Airlines, one of the fastest growing Airline in Africa, announced today that its Boeing 787 Dreamliner has been clad with the golden jubilee logo of the OAU-AU, to which the Airline served as official carrier during the 50th anniversary celebrations of the Organization of the African Unity- African Union (OAU-AU). Ethiopian was selected as official carrier of the golden jubilee celebrations in May 2013. “We are first and foremost a Pan-African airline, which has been serving the travel needs of Africa both in good and bad times for close to seven decades," said Tewolde Gebremariam, CEO of Ethiopian. "For five decades, we have been working hand in hand with our continental organization in bringing Africa together and closer to...
(Ventures-Africa 06/17/13)
VENTURES AFRICA – The Chinese government is in support of Chinese companies getting more actively involved in investment cooperation with Ethiopia in a wide range of sectors from infrastructure to manufacturing, Chinese Premier Li Keqiang said on Thursday. According to him, China’s aid to Africa has never been “conditional”, while Africa has long been a reliable and good friend and partner for China, and bilateral cooperation has progressed well during recent years, Li said during his meeting in Beijing with Ethiopian Prime Minister Hailemariam Desalegn. Hailemariam is on a five-day official visit to China. While emphasizing the two economies are highly “complementary” to each other and there is huge potential for the two countries to enhance cooperation, Li said China...
(Ethiopian Radio and Television Agency 06/17/13)
New regulations will bring m-banking to Ethiopian consumers, but limits on the companies involved and how transactions must be managed could slow growth. On 1 January 2013, the National Bank of Ethiopia (NBE) issued a long-awaited directive that allows transaction-based mobile banking. This is a report by theafricareport.com. Four major players Commercial Bank of Ethiopia, M-BIRR, BelCash and Zemen Bank's z-Birr are expected to begin operations later this year, making Ethiopia one of those African countries adopting this technology. Bankers and analysts alike welcome the move. "It will be transformational for Ethiopia's economy in general and the financial services sector in particular," says Zemedeneh Negatu, Managing Partner at Ernst & Young Ethiopia. He thinks that up to 50 million people...
(Alarabiya.net 06/17/13)
Ethiopia’s Communication Minister Bereket Simon told Al Arabiya on Sunday that his country will resume its plan to build the controversial Renaissance Dam and explained the reasons behind the Ethiopian parliament’s delay in approving the Nile River Cooperative Framework Agreement (CFA). “Ethiopia had to approve the CFA through the parliament two years ago but we saw it was unfair to work on approving it whilst Egypt is in a crisis so we told the leadership that we must wait until a new government is elected,” Bereket said. He added that since President Mohammed Mursi has been in power for almost a year now, “the time has come for [Ethiopia] to approve of the agreement through the parliament.” Ethiopia’s parliament on...
(New Business Ethiopia 06/17/13)
Delonex Energy Limited (together with its subsidiaries referred to as “Delonex Energy” or “the Company”), a new, energy exploration and production company (E&P) announced that an affiliate of Warburg Pincus, has agreed to lead an investment of up to 600 million US dollars in the Company. Delonex’s key strategic areas include the East African Continental Rift System, which extends from the Red Sea through Ethiopia, Kenya, Uganda, Tanzania to Mozambique; the Central African Rift System from Chad to South Sudan, and the coastal margins of East Africa. The company plans on accessing opportunities in these areas through farm-in and direct awards from host governments. Delonex Energy is led by Chief Executive Officer (CEO) Rahul Dhir, the former CEO of Cairn...
(Ips News 06/17/13)
Ethiopia may be one of the fastest-growing, non-oil producing economies in Africa in recent years, but corruption in this Horn of Africa nation is a deterrent to foreign investors looking for stable long-term partnerships in developing countries. “Bankers, miners and developers presenting projects to investment committees in countries that fare badly in corruption rankings frequently struggle to get investment. Corruption raises red flags because it makes local markets uncompetitive, unpredictable and therefore largely hostile to these long-term players,” Ed Hobey, the East Africa analyst at the political risk firm Africa Risk Consulting, told IPS. On May 11, in the biggest crackdown on corruption in Ethiopia in the last 10 years, authorities arrested more than 50 high profile people including government...

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