DigEthiopia - Stories tagged with economy

Ethiopia Devalues Its Birr Currency 17% Against Dollar, Central Bank

published 1 day, 20 hours, 45 minutes ago posted by adminadmin 1 day, 20 hours, 45 minutes ago
Thursday, September 02, 2010 3:03:26 AM GMT Thursday, September 02, 2010 3:02:46 AM GMT
Wed Sep 01 2010 Ethiopia devalued its currency, the birr, by 17 percent against the dollar, the third such move in the past 14 months, according to the National Bank of Ethiopia. The exchange rate was quoted at 16.351 per dollar today compared with 13.628 yesterday, according to the website of the Addis Ababa-based central bank. It was trading at 11.381 on July 10 last year. The devaluat... (more)
Digg It category: Economy | comment | | source: www.bloomberg.com tags: Bank, economy, ethiopia, Ethiopia economy

Ethiopia under Zenawi named 2nd poorest country in the world

published 10 days, 18 hours, 59 minutes ago posted by adminadmin 10 days, 18 hours, 59 minutes ago
Tuesday, August 24, 2010 4:49:17 AM GMT Tuesday, August 24, 2010 4:48:47 AM GMT
According to a new index developed by Oxford University and the UN, Ethiopia under Prime Minister Meles Zenawi is ranked the second poorest country on earth.The new measurement known as the Multidimensional Poverty Index, or MPI, will replace the Human Poverty Index in the United Nations' annual Human Development Report. The new report says Ethiopia has the (more)
Digg It category: Economy | comment | | source: negaritethiopia.blogspot.com tags: economy, Meles Zenawi

Ethiopia: Addis, Adama Problem Prone Tax Zones - Tax Authority

published 23 days, 17 hours, 1 minute ago posted by adminadmin 23 days, 17 hours, 3 minutes ago
Wednesday, August 11, 2010 6:46:37 AM GMT Wednesday, August 11, 2010 6:45:18 AM GMT
Melaku Fenta, director general of the ERCA, at the high-level tax payers' meeting answers the questions from the people gathered. Sitting on his right are Tewodros Tefera (centre), deputy director of operations of the ERCA, and Shewarega Tsegaye, office manager for the high-level taxpayers' branch. The city's business... (more)
Digg It category: Business | comment | | source: allafrica.com tags: adama, Addis Ababa, business, economy

Coffee, Khat Biggest Forex Earners

published 28 days, 19 hours, 8 minutes ago posted by adminadmin 28 days, 19 hours, 8 minutes ago
Friday, August 06, 2010 4:40:33 AM GMT Friday, August 06, 2010 4:39:53 AM GMT
Coffee and khat exports earned Ethiopia close to 737 million dollars, which was 36.9pc of the total foreign exchange of two billion dollars that the country earned in the 2009/10 fiscal year with 36.5pc, 729.1 million dollars, coming from China. (more)
Digg It category: Economy | comment | | source: www.addisfortune.com tags: Coffee, economy, ethiopia, khat

The Ethiopian Economy: Proud Of High Deficit?

published 65 days, 15 hours, 41 minutes ago posted by adminadmin 65 days, 15 hours, 43 minutes ago
Wednesday, June 30, 2010 8:06:35 AM GMT Wednesday, June 30, 2010 8:05:00 AM GMT
Had Friedman been the adviser to Meles Zenawi, he likely would have argued the importance of a balanced budget for Ethiopia, one of the poorest nations in the world. Such an ‘outdated’ hypothesis simply does not hold true for this nation. For the last forty years, the economy has experienced huge budget deficits accompanied by sluggish economic growth. Under the two most recent regimes-the Derg and now the EPRDF-expenditures have reached their maximum, to little public benefit. (more)
Digg It category: Economy | comment | | source: addisnegeronline.com tags: Bank, economy, ethiopia

Nearly 206,000 ha. land covered with seeds in Awi Zone

published 87 days, 19 hours, 27 minutes ago posted by adminadmin 87 days, 19 hours, 44 minutes ago
Tuesday, June 08, 2010 4:21:29 AM GMT Tuesday, June 08, 2010 4:04:11 AM GMT
Close to 206,000 hectares land has been covered with seeds in Awi Zone, Amhara State in the current harvest season, zonal agriculture and rural development main department said. Department head, Adgeh Mekuria told ENA that the plan was to cover over 271,000 hectares land with seeds. Efforts are underway to cover the remaining area of land with seeds. Adgeh said activities are underway to increase productivity by 50 per cent through improving distribution of agricultural inputs and expanding the area of... (more)
Digg It category: Economy | comment | | source: www.reliefweb.int tags: agriculture, Bahir Dar, economy, Food

"Nile is above all a Gift of Ethiopia" Richard Pankhurst

published 87 days, 19 hours, 27 minutes ago posted by adminadmin 87 days, 19 hours, 47 minutes ago
Tuesday, June 08, 2010 4:21:29 AM GMT Tuesday, June 08, 2010 4:01:31 AM GMT
By Richard Pankhurst, Jimma Times The recent signing of a new Nile Basin pact to replace colonial agreements has once again triggered a debate about how the resource can be equitably shared. Professor Pankhurst, who has been familiar with the issue for a number of decades, analyses a book that attempts to locate a safe course through these treacherous, uncharted waters. “If Egypt is a Gift of the Nile,” as the Egyptians say, “the Nile is above all a Gift of Ethiopia”. So said Gascon, a noted expert on ... (more)

Sharp price increases for soft drinks in Ethiopia

published 102 days, 6 hours, 14 minutes ago posted by adminadmin 102 days, 6 hours, 14 minutes ago
Monday, May 24, 2010 5:34:20 PM GMT Monday, May 24, 2010 5:33:55 PM GMT
Sharp price increases for soft drinks in Ethiopia PRICES of Coca-Cola and PepsiCo products in Ethiopia have risen significantly this month, accortding to Addis Fortune. East Africa Bottling Share Company (EASBC) has put the price of a case of 24 of its products, including Coca-Cola, Fanta, Sprite, and Schwepps Tonic, to ETB70 (USD5.12). The new recommended price for consumers is ETB3.50 for a 300ml bottle and ET B4.50 for a 500ml pack. Crystal Mineral Water has not seen any change in price, yet.Pleas... (more)
Digg It category: Economy | comment | | source: www.agra-net.com tags: Addis Ababa, economy, ethiopia, Food

Suspend Gibe III Dam Project

published 138 days, 17 hours, 44 minutes ago posted by adminadmin 138 days, 17 hours, 50 minutes ago
Sunday, April 18, 2010 6:03:37 AM GMT Sunday, April 18, 2010 5:58:24 AM GMT
I had been following the controversy surrounding the Gibe III hydroelectric dam project with passing interest until a couple of months ago. That changed when the recently completed Gibe II dam tunnel collapsed just two weeks after its inauguration. I am for the development of Ethiopia's infrastructure regardless of whatever regime is in charge. But development that is done without transparency and full consultation with all the stakeholders is bound to fail or bring about unnecessary conflicts or both. U... (more)
Digg It category: Economy | comment | | source: www.enset.org tags: economy, Electric Power, Gibe

Ethiopia's Meles pledges growth, fair elections

published 142 days, 17 hours, 11 minutes ago posted by adminadmin 142 days, 17 hours, 12 minutes ago
Wednesday, April 14, 2010 6:37:09 AM GMT Wednesday, April 14, 2010 6:36:21 AM GMT
Ethiopian Prime Minister Meles Zenawi defended his government's policies Tuesday and pledged economic growth and fair elections in his final report to parliament ahead of next month's polls. (more)
Digg It category: Economy | comment | | source: news.yahoo.com tags: economy, election 2002, ethiopia, Meles Zenawi

Ethiopia's exports up 21 pct in last 8 months-govt

published 142 days, 17 hours, 11 minutes ago posted by adminadmin 142 days, 17 hours, 15 minutes ago
Wednesday, April 14, 2010 6:37:09 AM GMT Wednesday, April 14, 2010 6:33:17 AM GMT
Ethiopia's exports rose sharply in the eight months through March versus the same period a year earlier, and the economy is on track to expand 10.1 pct during the 2009/10 fiscal year, the government said on Monday. (more)
Digg It category: Economy | comment | | source: af.reuters.com tags: economy, ethiopia, Export

MARKET NEVER LIES!

published 144 days, 19 hours, 18 minutes ago posted by adminadmin 144 days, 19 hours, 19 minutes ago
Monday, April 12, 2010 4:30:07 AM GMT Monday, April 12, 2010 4:28:46 AM GMT
The hurly-burly of the Shola market in the Yeka District makes it one of the most entrancing market areas in the metropolis, especially with the arrival of the holiday season. People can find their holiday necessities which range from bulls to goats, sheep, chicken, eggs, onions and butter. One can check off almost all of the items on the holiday shopping list at this one stop, open air marketplace. The Shola Market is particularly well-known for its numerous flocks of sheep. It is where most Addis Abeba... (more)
Digg It category: Economy | comment | | source: www.addisfortune.com tags: business, economy, ethiopia market

Meles Keen to See Emerging Bond Market

published 163 days, 18 hours, 3 minutes ago posted by adminadmin 163 days, 18 hours, 13 minutes ago
Wednesday, March 24, 2010 5:45:07 AM GMT Wednesday, March 24, 2010 5:35:19 AM GMT
Dissatisfied with an apparent absence of competition in the banking industry to the disadvantage of depositors, the Federal Government is planning to introduce what experts say could become a nascent bond market. With inflation driven to record high double digit figures last year and borrowers accessing money fr... (more)
Digg It category: Business | comment | | source: allafrica.com tags: Bank, economy, Meles Zenawi

Ethiopia’s February inflation rises to 8.1 pct

published 167 days, 19 hours, 20 minutes ago posted by adminadmin 167 days, 19 hours, 34 minutes ago
Saturday, March 20, 2010 4:28:24 AM GMT Saturday, March 20, 2010 4:14:34 AM GMT
ADDIS ABABA – Ethiopia’s year-on-year inflation rate rose to 8.1 percent in February from 7.6 percent in January due to higher food, fuel and construction material prices, its statistics office said on Wednesday. Inflation in the Horn of Africa nation surged to 64.2 percent in July 2008, driven by record high food and fuel prices, before [...] (more)
Digg It category: Economy | comment | | source: ecadforum.com tags: Bank, business, CBE, economy, Ethiopia news, Ethiopian news

Ethiopia: food security situation in North Wollo - report

published 178 days, 17 hours, 26 minutes ago posted by adminadmin 178 days, 17 hours, 37 minutes ago
Tuesday, March 09, 2010 6:22:21 AM GMT Tuesday, March 09, 2010 6:11:05 AM GMT
Preliminary report of the joint multi-agency team (Disaster Risk Management and Food Security Sector (DRMFSS), Regional Disaster Prevention and Food Security Bureau, Regional Water Bureau, WFP, UNICEF, OCHA, GOAL and Save the Children UK) indicates that the food security situation in North Wollo and Wag Hemra zones (Amhara) (more)
Digg It category: Economy | comment | | source: www.reliefweb.int tags: economy, ethiopia, Ethiopia news, Ethiopian news, Food

Launch of Ethiopia's Computer Refurbishment and Training Centre

published 190 days, 17 hours, 39 minutes ago posted by adminadmin 190 days, 17 hours, 39 minutes ago
Thursday, February 25, 2010 6:09:14 AM GMT Thursday, February 25, 2010 6:08:57 AM GMT
The centre has been established by the Ethiopian ICT Development Agency (EICTDA) as part of the ICT Assisted Development (ICTAD) Project, supported by the World Bank and in conjunction with the International Business Leaders Forum (IBLF). (more)
Digg It category: Business | comment | | source: www.iblf.org tags: business, economy, EICTDA, Ethiopia news, Ethiopian news

Ethiopian inflation ticks up to 7.6 pct in January | News by Country | Reuters

published 195 days, 18 hours, 10 minutes ago posted by adminadmin 195 days, 18 hours, 12 minutes ago
Saturday, February 20, 2010 5:37:59 AM GMT Saturday, February 20, 2010 5:36:19 AM GMT
Ethiopia's year-on-year inflation rose to 7.6 percent in January from 7.1 percent in December on the back of rising fuel, food and construction material prices, the statistics office said on Thursday. (more)

Adama Gets First Traffic Lights

published 205 days, 15 hours, 22 minutes ago posted by adminadmin 205 days, 15 hours, 34 minutes ago
Wednesday, February 10, 2010 8:26:22 AM GMT Wednesday, February 10, 2010 8:14:22 AM GMT
The installation of the first traffic lights for Adama (Nazareth) Town at three different locations, which cost nearly one million Birr, will be competed and delivered by February 22, 2010, Abdo Mohammed, head of the Administration and Security Office told Fortune. (more)
Digg It category: Economy | comment | | source: www.addisfortune.com tags: adama, economy, Ethiopia news, Ethiopian news

ETHIOPIA: Dam Critics Won’t Go Away

published 205 days, 15 hours, 22 minutes ago posted by adminadmin 205 days, 15 hours, 54 minutes ago
Wednesday, February 10, 2010 8:26:22 AM GMT Wednesday, February 10, 2010 7:53:40 AM GMT
Ethiopia is building a 240-metre high dam on the Omo River that is intended to end the country’s electricity shortage and supply power to neighbouring countries. Not everyone’s happy. The Gilgel Gibe III dam will hold back 14.7 million cubic metres of water. Its 1,870 MW generating [...] (more)

New Ethiopia dam tunnel collapses

published 205 days, 15 hours, 22 minutes ago posted by adminadmin 205 days, 15 hours, 55 minutes ago
Wednesday, February 10, 2010 8:26:22 AM GMT Wednesday, February 10, 2010 7:52:49 AM GMT
A water passage tunnel in a recently inaugurated hydropower dam in Ethiopia has reportedly collapsed, an NGO, International Rivers has said. In a press statement copied to ghanabusinessnews.com, the NGO said a critical water passage tunnel in the newly inaugurated Gilgel Gibe 2 hydropower project in Ethiopia collapsed. About 10 days after the ceremony, [...] (more)
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