DigEthiopia

Economy

Kenya agrees with Ethiopia on price of importing electricity - Business News |nation.co.ke

published 155 days, 15 hours, 45 minutes ago posted by

admin 155 days, 15 hours, 45 minutes ago

The deal to import 400MW was reached on Monday between Kenya’s Ministry of Energy and Ethiopia’s Ministry of Water and Energy but failed to agree on pricing. According to estimates from the Energy Regulatory Commission (ERC), new hydro-power projects price power between $0.093 (Sh7.70) and $0.111 (Sh9.20) per kilowatt hour. One kilowatt hour is equivalent to a single unit of power consumption - what is used to bill customers. (more)

Digg It category: Economy | 1 comment | | source: www.nation.co.ke tags: development, Electric Power, ethiopia, Export, kenya, Mihret debebe

Ethiopian Electric Power Corp. Signs 14 Contracts with Foreign Firms at Oil Price

published 252 days, 16 hours, 30 minutes ago posted by

admin 252 days, 16 hours, 37 minutes ago

According to Ethiopian Electric Power Corp. executive Miheret Debebe, EEPCo has signed 14 contracts worth more than $300 million with foreign firms to increase Ethiopia’s power output. State company EEPCo has also announced a feasibility study to construct a second massive hydropower project on the upper Nile River is nearly complete, with the project part of Ethiopia’s plans to become a regional power hub in East Africa. Among the foreign firms involved in the projects are companies from Spain, France... (more)

Digg It category: Economy | 1 comment | | source: oilprice.com tags: EEPCO, Electric Power, ethiopia, Mihret debebe, news about ethiopia

International Water Power and Dam Construction

published 252 days, 16 hours, 30 minutes ago posted by

admin 252 days, 16 hours, 36 minutes ago

Ethiopia is planning to build two new dams across the Nile, with a total capacity of 2100MW, Reuters has reported. The project would be in addition to the 5250MW Millennium Dam, which is currently being developed on the river. Feasibility studies are underway for the two new dams. News Ethiopia planning two new dams Ethiopia is planning to build two new dams across the Nile, with a total capacity of 2100MW, Reuters has reported. The project would be in addition to the 5250MW Millennium ... (more)

Digg It category: Economy | 1 comment | | source: www.waterpowermagazine.com tags: dam, EEPCO, Electric Power, Mihret debebe

Rising hunger in south Ethiopia despite lush green

published 269 days, 2 hours, 1 minute ago posted by

admin 269 days, 2 hours, 2 minutes ago

Malnourished children are flocking into feeding centers in this forested corner of southern Ethiopia after a drought in East Africa extended into this normally fertile region. While the famine in southern Somalia has grabbed headlines, southern Ethiopia is teetering on the brink of a food crisis. The Ethiopian government says 250,000 people need food aid amid what the U.N. says is the worst drought in 60 years. An aid organization and agricultural officials say the number of people who need emergency foo... (more)

Digg It category: Economy | 1 comment | | source: news.yahoo.com tags: ethiopia, Food, food aid, Somalia

Ethiopia needs $398 million for food aid

published 315 days, 12 hours, 21 minutes ago posted by

admin 315 days, 12 hours, 23 minutes ago

Ethiopia said Monday it needed $398 million to help millions of people in need of food aid due to a severe drought. The Horn of Africa region has been hit by one of its worst droughts in decades which has left millions of people facing starvation. "It is estimated that a total of 4.5 million people will require humanitarian assistance during the remaining period of the current year from July to December 2011," Agriculture Minister Mitiku Kassa told reporters. The figure marks a 40-percent ris (more)

Digg It category: Economy | 1 comment | | source: old.news.yahoo.com tags: ethiopia, Food, food aid, mitiku kassa, news about ethiopia

Ethiopia to start power supply to Sudan after Djibouti

published 335 days, 14 hours, 53 minutes ago posted by

admin 335 days, 14 hours, 59 minutes ago

Ethiopia will start supplying electric power to neighbouring Sudan next month as part of the Horn of Africa country’s plan to become a regional power exporter. Power exports to Djibouti began two weeks ago. Miheret Debebe, CEO of Ethiopian electric and Power Corporation (EEPCo.) on Monday announced that Ethiopia had begun supplying power to Djibouti as part of an agreement between the two countries. (more)

Digg It category: Economy | 1 comment | | source: www.borglobe.com tags: djibouti, EEPCO, Electric Power, Export, Mihret debebe, Sudan

Ethiopia inflation climbs to 34.7 pct yr/yr in May

published 342 days, 14 hours, 24 minutes ago posted by

admin 342 days, 14 hours, 27 minutes ago

Ethiopia's year-on-year rate of inflation jumped to 34.7 percent in May from 29.5 percent a month earlier, driven by a sharp rise in food prices, official data showed on Tuesday. Food prices rose 40.7 percent during the 12 months to the end of May, while the cost of tobacco increased 39.7 percent and clothing and footwear prices were up 34 percent, the Central Statistical Agency said in a statement. (more)

Digg It category: Economy | comment | | source: af.reuters.com tags: Addis Ababa, economy, ethiopia, Food, inflation

IMF says Ethiopia economy to slow in 2011/12

published 351 days, 22 hours, 4 minutes ago posted by

admin 351 days, 22 hours, 4 minutes ago

Jun 1 (Reuters) - * 2011/12 growth seen at 6 pct vs 7.5 pct this year Annual inflation leapt to nearly 30 pct in April (Adds details, background) ADDIS ABABA, June 1 (Reuters) - Ethiopia's economic growth will slow to about 6 percent in the 2011/12 fiscal year due to high inflation, restrictions on private bank lending and a trickier business environment, the International Monetary Fund said. "The principal macroeconomic challenge is su... (more)

Digg It category: Economy | comment | | source: af.reuters.com tags: Addis Ababa, Bank, economy, ethiopia, IMF

Awramba Times » Ethiopia inflation rises to 14.5 pct in December

published 362 days, 14 hours, 44 minutes ago posted by

admin 362 days, 14 hours, 44 minutes ago

ADDIS ABABA Jan 14 (Reuters) – Ethiopia’s annual inflation jumped to 14.5 percent last month from 10.2 percent in November after a steep rise in food and non-food prices caused in part by two currency devaluations in less than 12 months. The Central Statistics Agency (CSA) said non-food inflation in Africa’s most populous nation after Nigeria rose to 22.9 percent last month from 16.7 percent the month before. Food prices rose 8.9 percent from 5.8 percent previously. After soaring in 2008 and 2009, Ethi... (more)

Digg It category: Economy | comment | | source: awramba.com tags: Addis Ababa, business, Ethiopian news, inflation

How Kulkarni designed the first Ethiopia Commodity Exchange in Africa

published 379 days, 14 hours, 41 minutes ago posted by

admin 379 days, 14 hours, 48 minutes ago

His business card says chief economist of Ethiopia Commodity Exchange. But Bharat Kulkarni's role in creating the exchange, the first one in east Africa, has been a much bigger one. He joined the United Nations wing UNDP in 2008 with the job of advising the Ethiopian government in setting up the trading operations of the exchange. "This is the only commodities exchange in east Africa and I was involved in setting it up. Till late last year, I was head of operations and now my role has been extended to ... (more)

Digg It category: Economy | comment | | source: articles.economictimes.indiatimes.com tags: Bharat kulkarni, economy, ECX, ethiopia, Ethiopian Commodity Exchange

Surveying Helicopter Crashes On Blue Nile River

published 397 days, 14 hours, 56 minutes ago posted by

admin 397 days, 15 hours, 6 minutes ago

Addis Ababa — A helicopter with a team of experts on board has reportedly crashed into the Blue Nile River on Monday, a local an Ethiopian newspaper has reported. Owned by a South African company, the helicopter, which took off from Qoncho area in the Benishangul Gumuz region was carrying out a feasibility study for the construction of an additional two hydro-power projects Ethiopia intends to launch on the Nile River. "It flew into a cable spanning across... (more)

Digg It category: Economy | comment | | source: allafrica.com tags: Benishangul Gumuz, EEPCO, Electric Power, Nile River, Tesfa-Alem Tekle

Ethiopia launches construction of its Biggest railway

published 423 days, 16 hours, 2 minutes ago posted by

admin 423 days, 16 hours, 12 minutes ago

The government will be spending an average of 6 billion Birr per year for construction of the railway. According to the Ethiopian Railway Corporation (ERC), the construction would generate employment opportunity for over 300 thousand citizens. Of course, Ethiopia is not new to train transport; nor is train transport foreign to Ethiopia. The two have had a century-old relations. Despite such a long tie, the poor train transport service in the country had, once, disrupted completely. At present, however, ... (more)

Digg It category: Economy | comment | | source: www.newsdire.com tags: development, Ethiopian news, Investment, railway

The Great Land-Grab Debate

published 423 days, 16 hours, 2 minutes ago posted by

admin 423 days, 16 hours, 9 minutes ago

Gambella — Ethiopia has little time for critics of its large-scale land-leasing policy, insisting the millions of dollars of foreign investment will create jobs, improve domestic agricultural expertise and reduce both poverty and the country's chronic food insecurity. The policy, part of a five-year Growth and Transformation Plan, has led to the cheap leasing of thousands of square kilometres of what the government says is mostly under-used or uncultivated land. Officially, land in Ethiopia is governmen... (more)

Digg It category: Economy | comment | | source: allafrica.com tags: ethiopia, Gambella, news about ethiopia

World Water Day: Global outrage over Ethiopia mega-dam

published 427 days, 15 hours, 29 minutes ago posted by

admin 427 days, 15 hours, 36 minutes ago

Almost 400 organizations have signed a petition against Africa’s tallest dam, which will be delivered to Ethiopian embassies across Europe and the United States to mark World Water Day on Tuesday 22nd March. At least eight tribes in Ethiopia and about 300,000 people living around the famous Lake Turkana in Kenya are threatened by the Gibe III dam on the Omo River. Copies of the petition will be delivered in France, Germany, Italy, Belgium, the UK and the USA. (more)

Digg It category: Economy | comment | | source: www.scoop.co.nz tags: Electric Power, news about ethiopia, omo valley, omo valley tribes

Ethiopia at centre of global farmland rush

published 428 days, 12 hours, 47 minutes ago posted by

admin 428 days, 13 hours, 11 minutes ago

Karmjeet Sekhon, project manager for Indian food company Karuturi Global, with crops in Ethiopia's Gambella province. Photograph: John Vidal for the Guardian It's the deal of the century: £150 a week to lease more than 2,500 sq km (1,000 sq miles) of virgin, fertile land – an area the size of Dorset – for 50 years. Bangalore-based food company Karuturi Global says it had not even seen the land when it was offered by the E... (more)

Digg It category: Economy | comment | | source: www.guardian.co.uk tags: Ethiopian news, Food, Gambella, india, Investment, Oil

Ethiopia to Build Dam On Blue Nile Near Border

published 432 days, 14 hours, 38 minutes ago posted by

admin 432 days, 14 hours, 53 minutes ago

Ethiopia is set to launch construction of a massive hydroelectric dam in its Nile basin near its border with Sudan, the country's Prime Minister has announced. The planned power plant Ethiopia's Benishangul state will be 40km from the Sudanese border. "We are planning to carry out a number of important projects, including a major project on the Nile," Ethiopian Prime minister Meles Zenawi told the press. Upon completion, the power plant will ... (more)

Digg It category: Economy | comment | | source: allafrica.com tags: economy, Electric Power, Meles Zenawi, Nile, Sudan, Tesfa-Alem Tekle

Adama to Build 234 Million Br Flood Prevention Projects

published 439 days, 11 hours, 35 minutes ago posted by

admin 439 days, 11 hours, 45 minutes ago

The Oromia Regional State and Adama (Nazareth) City Administration, in a joint effort with the World Bank (WB), are to invest 234 million Br in the construction of a 45km flood drainage system, in Adama Town. The construction of this drainage system is to avoid the annual and often fatal flash flooding that plagues the town of Adama, most recently killing two people in 2010. The most serious disasters on re... (more)

Digg It category: Economy | comment | | source: allafrica.com tags: adama, addis fortune, Daniel Kifle, development, Elias Gebreselassie

Allana Potash shares jump 10% on news of strong drill results in Ethiopia

published 440 days, 11 hours, 58 minutes ago posted by

admin 440 days, 12 hours, 26 minutes ago

Allana Potash Corp. shares rose 10% Monday after the company reported strong drilling results. Allana, which is focused on the exploration and development of the Danakil Depression in Ethiopia, drilled to test the southern unexplored limits of its concessions. The drill hole intersected a 1 metre zone of 44.5% potassium chloride (KCI), which would represent the highest concentration of potash Allana has struck to date, Dundee Capital Markets analyst Richard Kelertas told clients. "While not particular... (more)

Digg It category: Economy | comment | | source: www.nationalpost.com tags: Afar, business, ethiopia, natural resources

Ethiopia's H1 exports increase but miss target

published 441 days, 14 hours, 52 minutes ago posted by

admin 441 days, 15 hours, 9 minutes ago

Ethiopia's exports fell short of target in the first half of its fiscal year when coffee, oil seed and flower sales missed forecasts, trade data obtained by Reuters showed on Friday. The Horn of Africa nation projects it will earn $3 billion in export revenue for 2010/11 (July-June) after a resurgence of coffee sales and diversification into new commodities earned $2 billion in the previous year. Officials had set a goal of $1.2... (more)

Digg It category: Economy | comment | | source: af.reuters.com tags: Coffee, economy, Export, Flower Export, khat, news about ethiopia, Oil

Ethiopian economy's new gold rush

published 451 days, 13 hours, 58 minutes ago posted by

admin 451 days, 14 hours, 14 minutes ago

Gold is now Ethiopia’s second largest export item as well as the country’s second foreign exchange earner, after coffee. The horn of Africa country’s half year export earnings since the start of its fiscal year in mid July, 2010, hit US$ 1.14 billion, according to a report released by the Ethiopian Trade Ministry. Ethiopia’s agriculture based economy employs over 80 per cent of its estimated population of 80 million. Coffee, the country’s main export crop, which provided the country with an estimated 65... (more)

Digg It category: Economy | comment | | source: www.afrik-news.com tags: Coffee, economy, Ethiopian news, Export, gold, news about ethiopia

Welcome!