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Ethiopia inflation climbs to 34.7 pct yr/yr in May

published 343 days, 13 hours, 35 minutes ago posted by

admin 343 days, 13 hours, 38 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 352 days, 21 hours, 14 minutes ago posted by

admin 352 days, 21 hours, 15 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

Sudan, Egypt Review Ethiopian Proposal To Study Impact Of Its Blue Nile Dam Project

published 363 days, 13 hours, 54 minutes ago posted by

admin 363 days, 14 hours, 5 minutes ago

KHARTOUM, (BERNAMA-NNN-SUNA) – Sudan and Egypt are reviewing an Ethiopian proposal to set up a joint technical tripartite committee to study the technical issues and impact of Ethiopia’s Millennium Dam, which is under construction on the Blue Nile River some 40 km east of Sudan in the Benishangul-Gumuz Region of Ethiopa. This came about when the ministers of Irrigation and Water Resources of Sudan and Egypt, Kamal Ali Mohamed and Dr. Hussein El-Atfy respectively, co-chaired a session of talks here Tuesd... (more)

Digg It category: Politics | comment | | source: ethiopiaforums.com tags: economy, egypt, Electric Power, ethiopia, news about ethiopia, Nile River, Sudan

How Kulkarni designed the first Ethiopia Commodity Exchange in Africa

published 380 days, 13 hours, 51 minutes ago posted by

admin 380 days, 13 hours, 58 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

Egypt tells Ethiopia it will negotiate over Nile

published 396 days, 19 hours ago posted by

admin 396 days, 19 hours ago

ADDIS ABABA, Ethiopia (AP) -- Egypt's ambassador to Ethiopia said Thursday that his government is willing to negotiate disputed Nile River issues with Ethiopia, including a colonial-era treaty that gives Egypt a majority stake in the river. Ambassador Tarik Ghoneim said Egypt's new government wants to start discussions with all nine Nile countries about using waters in the best interest of all. "Everything is on the table," he said. (more)

Digg It category: Politics | comment | | source: hosted.ap.org tags: economy, egypt, Electric Power, ethiopia, Nile, Nile River

Flower Growers Expand Market at Expo Amid Fading Global Demand

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admin 408 days, 19 hours, 17 minutes ago

Dagmawit Tsegaye and her friend Mesay Tifru are both 26 and work for a tour operator. They attended the Horti-flora Ethiopia 2011 Horticultural Expo at Millennium Hall on Thursday, March 24, 2011, to buy flowers for their office and respective homes. The fourth international trade exhibition for the floriculture and horticulture sectors, which is conducted every two years, was organised by the Ethiopian Horticulture Producers and ... (more)

Digg It category: Economy | comment | | source: allafrica.com

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tags: economy, ethiopia, Ethiopian news, Export, Flower Export

[Must Watch] Documentary Film - Nightmare in Dreamland - A Journey of Ethiopian Girls to Middle East

published 415 days, 13 hours, 55 minutes ago posted by

admin 415 days, 13 hours, 55 minutes ago

[Must Watch] Documentary Film - Nightmare in Dreamland - A Journey of Ethiopian Girls to Middle East Documentary Film - Nightmare in Dreamland - A Journey of Ethiopian Girls to Middle EastAdd To FavoritesFavorited Successfully!... (more)

Digg It category: Fun | comment | | source: www.ethiotube.net tags: economy, ethiopia, middle east, news about ethiopia

Ethiopia to Build Dam On Blue Nile Near Border

published 433 days, 13 hours, 49 minutes ago posted by

admin 433 days, 14 hours, 3 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

Ethiopia's H1 exports increase but miss target

published 442 days, 14 hours, 2 minutes ago posted by

admin 442 days, 14 hours, 19 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

Stratex boosted by Ethiopian gold discovery

published 449 days, 12 hours, 10 minutes ago posted by

admin 449 days, 12 hours, 20 minutes ago

AIM-listed explorer Stratex International (STI) announced the discovery of epithermal gold mineralisation at the newly acquired 299 sq km Blackrock Exclusive Exploration Licence (EEL) in the northern Afar region of Ethiopia. This expands the potential size of the epithermal gold district - located 260 km north of Megenta - with further exploration work set to commence in March, with the aim of fast-tracking prospects through to drill-ready status before end-2011. The news pushed shares in the company u... (more)

Digg It category: Business | comment | | source: www.iii.co.uk tags: Afar, economy, ethiopia, gold, news about ethiopia

Ethiopian economy's new gold rush

published 452 days, 13 hours, 9 minutes ago posted by

admin 452 days, 13 hours, 24 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

Groups Protest, Seeking China's Pullout From Controversial Dam

published 454 days, 11 hours, 38 minutes ago posted by

admin 454 days, 11 hours, 43 minutes ago

Tesfa-Alem Tekle Addis Ababa — International environmental groups, members of civil society and other concerned individuals on Sunday held a protest in Kenya to petition the Chinese government against financing the construction of Ethiopia's controversial mega-dam. Sudan Tribune has learnt that the protesters, lobbied by Friends of Lake Turkana, marched to the Chinese embassy in Nairobi where they delivered a petition calling on China to stop its firms from engaging in the ... (more)

Digg It category: Economy | comment | | source: allafrica.com tags: economy, Electric Power, ethiopia construction, Gilgel Gibe, kenya, Tesfa-Alem Tekle

Who stole 10,000 tons of Ethiopian coffee?

published 459 days, 15 hours, 36 minutes ago posted by

admin 459 days, 15 hours, 43 minutes ago

When Ethiopia’s dictator Meles Zenawi announced recently that 10,000 tons (20 million pounds, or 9 million kilograms) of coffee disappeared without a trace, the Ethiopian Review Intelligence Unit (ERIU) immediately went to work to find out who took it. For ERIU’s crack team of investigators it was not difficult to find out how 25,000 truck loads of coffee beans could disappear without a trace. The ERIU team has uncovered that the coffee was stolen by none other than the dictator’s wife, the mother of cor... (more)

Digg It category: Economy | 1 comment | | source: www.ethiopianreview.com tags: business, Coffee, economy, Nitro Ethiopia, Nitro Ethiopians

Mega irrigation project on Omo River planned

published 481 days, 11 hours, 11 minutes ago posted by

admin 481 days, 12 hours, 3 minutes ago

Ethiopian Prime Minister Meles Zenawi has announced plans to start an irrigation project on the trans-boundary Omo River. The announcement comes in spite of an unresolved contention raised over the government’s Gibe III Hydropower Project, which is currently underway to generate 1800MW. Analysts argue that Ethiopia should negotiate with countries like Kenya and Egypt before embarking on such projects. Ethiopian Prime Minister Meles Zenawi who appeared at a ceremony in Jinka, a town in the Southern Nation... (more)

Digg It category: Economy | comment | | source: www.afrik-news.com tags: agriculture, economy, Electric Power, Food, irrigation, Meles Zenawi

የነጋዴው የዋጋ ጥማትና የሸማቾች ስጋት በምንደኞች ኢኮኖሚ

published 483 days, 14 hours, 55 minutes ago posted by

admin 483 days, 14 hours, 57 minutes ago

ጥር ወር ዑደቱን ጠብቆ ከበራፍ ደርሷል፡፡ ወሩ ጥምቀት እና አገሩን ለሚሞሉት ሰርግን መሰል ማኀበራዊ ትውፊቶች ብቻ አልነበረም የተናፈቀው፡፡ ለመንግሥት ሠራተኛው በዚህ ወር እንደሚጨመር የሚጠበቀውን ደመወዝ ተከትሎ የሚከተለውን የኢኮኖሚ ጣጣ ሦስት አካላት ወሩን እንዲጠብቁት አድርጓቸዋል፡፡ የመንግስት ተቀጣሪው ፣ ነጋዴው እና የአቶ መለስ መንግሥት ከአንድ መነሾ የተለያየ ግብ ይጠብቃሉ፤ በዚህ ጥር ወር። የኑሮ ውድነቱ የተጫነውን ሠራተኛ ደመወዝ [...] (more)

Digg It category: Business | comment | | source: addisnegeronline.com tags: Addis Ababa, business, economy, Ethiopian news, news about ethiopia, ZERIHUN TESFAYE

Complex Emergency Fact Sheet #1, Fiscal Year (FY) 2011

published 492 days, 11 hours, 8 minutes ago posted by

admin 492 days, 11 hours, 17 minutes ago

As of late December 2010, a confirmed La Niña weather event has caused below-average October to December deyr rainfall, resulting in pasture and water shortages throughout southeastern pastoral and agro-pastoral regions in Ethiopia. The USAID-funded Famine Early Warning System Network (FEWS NET) predicts that the October to January meher, or main, harvest will be normal to above-normal, except in areas affected by adverse weather conditions and yellow wheat rust. Overall, FEWS NET predicts an improvement... (more)

Digg It category: Economy | comment | | source: www.reliefweb.int tags: development, economy, ethiopia, news about ethiopia

Gov’t Collects 1.5bn Br from Windfall Tax

published 496 days, 14 hours, 56 minutes ago posted by

admin 496 days, 15 hours, 2 minutes ago

Dashen Bank has paid 302 million Br in windfall tax, the highest out of the 14 banks that paid a total of close 1.5 billion Br by Monday, January 3, 2011, the deadline set for the payment by National Bank of Ethiopia (NBE). (more)

Digg It category: Economy | comment | | source: www.addisfortune.com tags: Bank, dashen bank, economy, ethiopia

Ethiopian govt may ban cotton exports

published 578 days, 13 hours, 23 minutes ago posted by

admin 578 days, 13 hours, 31 minutes ago

A proposal to ban raw cotton exports had been drafted by the Ethiopian Textile Industry Development Institute (ETIDI) and in all likelihood, the Ethiopian government is planning to impose the ban. The textile sector has been insisting on banning exports of raw cotton for the main reason that domestic demand for the white gold has outstripped the supply, and if it runs short, cotton will have to be imported by spending valuable foreign exchange. (more)

Digg It category: Business | comment | | source: www.fibre2fashion.com tags: business, economy, Ethiopia export, news about ethiopia

ተጠሪነቱ ለጠቅላይ ሚኒስትሩ የሆነ የስኳር ኮርፖሬሽን ሊቋቋም ነው

published 586 days, 11 hours, 34 minutes ago posted by

admin 586 days, 11 hours, 39 minutes ago

የኤሌክትሪክ ኃይል ኮርፖሬሽንም ተጠሪነቱ ለጠቅላይ ሚኒስትሩ ይሆናል ብርጋዴል ጀኔራል ክንፈ ዳኘው የኢንጂነሪንግ ኮርፖሬሽንን እንዲመሩ ተሾሙ የኢትዮጵያ ስኳር ልማት ኤጀንሲ በድጋሚ በኮርፖሬሽን መዋቅር ተደራጅቶ ተጠሪነቱ ለጠቅላይ ሚኒስትሩ ሊሆን ነው፡፡ (more)

Digg It category: Politics | comment | | source: www.ethiopianreporter.com tags: business, economy, eprdf, Meles Zenawi

Ethiopia's trends compared with some selected countries

published 605 days, 18 hours, 10 minutes ago posted by

admin 605 days, 18 hours, 17 minutes ago

What's neat about this tool is that it allows you to quickly visualize data and spot trends. I wanted to see how Ethiopia's trends compared with some selected countries. The results speak for themselves, but I think you should take them with a grain of salt since the data comes from the (more)

Digg It category: Economy | comment | | source: www.enset.org tags: economy, ethiopia, news about ethiopia

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