| IMF Chief Lagarde Starts Visiting Ethiopia
December 13, 2017 - The International Monetary Fund (IMF) Managing Director, Ms. Christine Lagarde, has started her visit to Ethiopia. During her stay in Ethiopia, the Managing Director will meet with different high-level Ethiopian government officials, including President Mulatu Teshome and Prime Minister Hailemariam Desalegn.
She is scheduled to deliver speeches at the United Nations Economic Commission for Africa (UNECA) and African Union (AU) as well as visit the Eastern Industry Zone in Dukem and Hamlin Fistula Hospitals.
According to a statement the Ministry of Foreign Affairs sent to FBC today, Ethiopia joined IMF, an organi
| Israeli Cops Caught on Video Abusing Ethiopian Teen
December 12, 2017 - Six Israeli police officers are being investigated after a video surfaced in which one of them is seen beating a 16-year-old of Ethiopian origin who was handcuffed to a bench. The officers are also suspected of distributing the video clip among their police co-workers. The incident occurred in April, when the teen was arrested on suspicion of assault. He was released from prison a few weeks ago after serving a sentence for the offense.
The Justice Ministry’s police conduct investigation unit is looking into the incident. The minor, who was drunk at the time, was handcuffed to a bench at the police station during
| IMF Director Visiting Ethiopia
December 11, 2017 - Ms.Christine Lagarde, Managing Director of the International Monetary Fund (IMF) will arrive in Addis Ababa, Ethiopia next Friday.
It will mark the first visit by the boss of the IMF in the organisation’s 72-year history.
According to Addis Fortune, Lagarde is scheduled to meet Ethiopian authorities, including Prime Minister Hailemariam Desalegn, to possibly discuss the resumption of a program by the IMF.
She is also booked to speak on the impact technology can have in ensuring inclusive growth in Africa, at the UNECA, on Friday morning.
| 10,000 Ethiopian Citizens Repatriated from Saudi Arabia
December 8, 2017 - 10,000 undocumented Ethiopian citizens residing in Saudi Arabia were repatriated from November 15 - December 5, 2017, according to announcement from the Ethiopian government. The Ethiopian government also stated that it is undertaking rehabilitation work for its citizens who returned from the Kingdom.
Saudi Arabia back in March had given a 90-day amnesty of undocumented migrants to voluntarily leave, but had extended the amnesty several times since then. More than 70,000 undocumented Ethiopian migrants took advantage of the Saudi amnesty which ended in June to return home.
However, it's estimated several hundred th
| Ethiopia Has No Intention to Relocate Embassy to Jerusalem – Ethiopian Government
December 8, 2017 - Ethiopia’s ministry of foreign affairs spokesperson, Meles Alem, stated that Ethiopia has no intention to relocate its embassy from Tel Aviv to Jerusalem, reports Middle East monitor.
Speaking at a press conference, the ministry’s spokesperson, Meles Alem, stressed that US President Donald Trump’s decision to move the American embassy to Jerusalem applies to “the United States alone”.
“We, as part of the African Union, endorse the two-state solution,” Alem added.
On Wednesday, the US President Donald Trump announced his decision to formally recognize Jerusal
| Ethiopia Used Israeli Company Spyware to Monitor Dissidents - Report
December 6, 2017 - Ethiopia has been using the services of Israeli software security company called Elbit Systems to eavesdrop on EThiopian opposition figures living in the United States, Canada, Germany and other places, according to reports from Citizen Lab, US News & World Report, Wired.com, and several other media organizations.
According to the reports, in 2016 and 2017, individuals in Canada, United States, Germany, Norway, United Kingdom, and other countries began to receive suspicious emails. The emails contained links, which when clicked, were meant to download monitoring software onto target computers. One such email wa
| Ethiopian Electric Power CEO Named Power Generation Woman of the Year
December 6, 2017 - CEO of Ethiopia Electric Power, Azeb Asnake, has been named the 2017 Power Generation Woman of the Year in recognition of her great work advancing power generation in Ethiopia, reports Renewable Energy World . The Ethiopian CEO received the award yesterday at POWER-GEN International event in Las Vegas, United States of America.
Azeb is responsible for the construction and operation of generation plants, transmission lines and substations as well as overseeing the sale of electricity to neighboring Sudan, Djibouti and border towns of Kenya.
When she first entered the industry, Ethiopia’s electric energy w
| Ethiopian, Saudi Airlines Sign Cooperation Agreement
December 5, 2017 - Saudi Airlines has signed a Memorandum of Understanding (MoU) with Technical Unit of Ethiopian Airlines to provide long-term aircraft maintenance services exchanged between them case by case and project by project, reports Saudi Gazette.
The agreement expands the support and maintenance solutions in the field of component service which forms the basis to pursue a longer term business partnership between both companies in support of their customers’ fleet operations in the Kingdom of Saudi Arabia and surrounding market in Africa.
Under the terms of the MOU, the companies cooperate in component maintenanc
| Ethiopia, Saudi Arabia Agree to Strengthen Ties
December 3, 2017 - Ethiopian Prime Minister Hailemariam Desalegn held talks with Saudi King Special Envoy, Major General Ahmad Hassan Mohammad Asiri. During the meeting, the Ethiopian Premier and Envoy discussed ways to strengthen socio-economic and security cooperation between the two countries.
Attracting more investment from Saudi Arabia to Ethiopia was also one of the main topics of the discussion. As regards to regional issues, the two sides discussed ways to reinforce their peace and security cooperation, according to office of the Prime Minister.
Saudi Arabia wants to elevate its historical and longst
| World Bank Launches Partnership Framework for Ethiopia
November 28, 2017 - World Bank Group has unveiled its strategic plan for Ethiopia covering years 2018 to 2022, reports Ethiopian News agency. The Country Partnership Framework for Ethiopia is aligned with the Ethiopia’s Second Growth and Transformation Plan with the overall goal of attaining lower middle-income status by 2025, Carolyn Turk, World Bank Country Director quoted by Ethiopian news agency as saying.
According to her, the primary focus area of the Bank is promoting structural and economic transformation through increased productivity.
Ethiopia’s success in achieving structural and economic transformation will depend on
| Ethiopia Investment Commission Wins 2017 UNCTAD Award
November 22, 2017 - The Ethiopian Investment Commission (EIC) wins the '2017 United Nations Award' for outstanding performance in targeted promotion, facilitation and execution of sustainable investment projects,reports the Ethiopian herald.
According to a Press Release EIC sent to The Ethiopian Herald, the award is presented to the world's investment promotion agencies and institutions to recognize their exceptional achievements in promoting and facilitating Foreign Direct Investment (FDI) that contributes towards the Sustainable Development Goals (SDGs).
The Award was announced by the United Nations Co
| Chinese Hub City to Support Ethiopia's ICT Sector
November 21, 2017 - Chinese city Shenzhen has opened Shenzhen Outbound Alliance (SOA) branch office in Ethiopia's capital Addis Ababa, reports Xinhua. SOA is a non-governmental organization formed to help Shenzhen companies engage in outbound investment and cooperation.
Speaking at the SOA office inaugural event, Sun Tianlu, vice chairman and secretary of the Alliance said with the city's total economic output expected to hit 2 trillion yuan (302 billion U.S. dollars) in 2017, owing largely to high-tech products and services, it was natural that Shenzhen wanted to impart its successes to overseas destinations.
Shenzhen is home to
| Canadian Company to Open Electric Vehicle Assembly in Ethiopia
November 20, 2017 - Energy Co-Invest Corp, Toronto based developer and financer for energy and infrastructure projects, announced that it has chosen Ethiopia as the first destination from African countries to set up its electric vehicle assembly and inductive charging stations, reports FBC.
In a meeting held today with State Minister Dr. Aklilu Hailemichael, the owner and CEO of the corporation, Mr. Jordan Oxley announced that his company has embarked its studies which help the plant to fully materialize in the near future.
Mr. Jordan said the project is a fully funded project whose central aim largely coincides with the clea
| US Working to Resolve Tensions Between Ethiopia, Eritrea - Ambassador Yamamoto
November 18, 2017 - US assistant secretary for African affairs, Ambassador Donald Yamamoto, stated that the US is working to resolve the tense border dispute between Ethiopia and Eretria and the resulting 18-year standoff between the two countries.
In his telephonic briefing from Washington DC Ambassador Yamamoto said that in addition to working to resolve the longstanding border war and dispute between the two neighboring countries, his administration values the commitment of the two countries to resolving the standoff. However, Yamamoto did not mention any specifics regarding mediation process and timetable.
| Qatar Visit Not Connected with Grand Renaissance Dam Project - Ethiopian PM
November 17, 2017 - Ethiopia prime minster stated that Ethiopia has the capacity to complete the construction of the Grand Ethiopian Renaissance Dam, being built along the Nile without external assistance. The premier said this following speculation related to his visit to Qatar.
The Horn African nation launched the construction of the grand dam with abn installed capacity of 6,450MW power in April 2011 to fully finance itself by mobilizing domestic resources.
Since then the country has been raising funds in many ways including donation from the public and domestic companies, lottery and other activities.
| Ethiopia, Qatar Sign Multiple Agreements
November 15, 2017 - Ethiopia’s Prime Minister, Hailemariam Desalegn, signed multiple agreements with Emir H H Sheikh Tamim bin Hamad Al Thani of Qatar during his visit to the gulf nation. The Emir,on his part, also stated that the Ethiopian premier visit would contribute to expanding the bilateral relations between the two countries to a wider level.
For his part, the Ethiopian Prime Minister expressed thanks and gratitude to H H the Emir for his invitation to visit Qatar, expressing the hope that the visit would result in further cooperation between the two countries at all levels. He underlined that the Federal Democratic Republic of
| Top One Percent Owns Half of Global Wealth - Report
November 14, 2017 - World's richest 1 percent now owns 50 percent of total global wealth, according to a report by Credit Suisse and reported by Fortune.
According to the report, there are 34 million people in the world who have $1 million dollar net worth or more. This is 0.7% of the global adult population, and they account for 45% of global wealth.
Within the top 1%, those who have a net worth of $50 million or more account for 0.36 percent of the adult population, just 123,800 of them in the world.
At the lower end of the global wealth, those with a net worth of less than $10,
| Eritrea Receiving Military Aid from UAE, Russia - UN
November 12, 2017 - The United Nations reported that Eritrea’s military received help from the United Arab Emirates and possibly Russia, Czech Republic and Italian companies in the past year. According to UN, the assistance would violate a United Nations arms embargo on Eritrea.
Thirteen Eritrean air force and navy cadets received training at U.A.E. military colleges and seven at Emirati engineering institutions between 2012 and 2015, the investigators said in a Nov. 8 report to the UN Security Council, citing testimony from five cadets who defected. The U.A.E. has been building a military base in Eritrea, whose port facilities two months
| UK Doubles Export Finance to Ethiopia
November 12, 2017 - British International Trade Secretary Dr. Liam Fox announces the United Kingdom has doubled the amount of export finance it is making available to support UK-Ethiopia bilateral trade.
The export finance to Ethiopia is increased from 100 million pound to 200 million. The Trade Secretary leading a UK business delegation has visited the Ethiopian Airlines and inaugurated British Pittards Shoe Factory.
After visiting Ethiopian Airlines facilities and holding discussions, Dr. Fox told ENA that the airline has showing astonishing success.
He said the signing of 1.2 billion pound agreement betwe
| Al-Amoudi Arrested in Anti-Corruption Sweep in Saudi Arabia
November 9, 2017 - Sheikh Mohammed Hussein al-Amoudi was arrested in the Saudi Arabia last Saturday, according to media reports. He is one of dozens of elite detainees in Saudi Arabia who was caught on anti-corruption sweep.
According to reports, he many other prominent figures are in detention, sleeping on mattresses on the floor of a well-guarded ballroom at the Ritz-Carlton, Riyadh, awaiting the next steps by Saudi authorities.
The exact charges are unclear, but in an email to VOA, Tim Pendry, al-Amoudi’s London-based spokesman, insisted the arrest would not affect al-Amoudi’s international business empire.