Manufacturing exports slide despite surge in financing, industrial input supply
The weak performance is at odds with a two-million-ton surge in industrial input supply recorded over the period. Fluctuations in salt supply continue as the Afar regional administration, the sole provider of industrial salt in the country, raises equitable beneficiary issues over the salt trade. The manufacturing sector is also enjoying increased access to finance, with large-scale manufacturers receiving nearly 17 billion birr in financing over the reporting period, representing a whopping 74 percent increment from last year. Following the delisting from AGOA, exportable commodities are saturated at manufacturing industries in Ethiopia. Lawmakers see limited manpower uptake in the manufacturing sector as a result of the absence of a minimum wage.
Source:Ethiopian News
May 25, 2024 14:08 UTC
5 killed after informal gold mine collapses in northern Kenya
The bodies of five miners have been recovered from the Hillo artisanal mine, and another three people were unaccounted for, regional commissioner Paul Rotich told Reuters by telephone late on Friday, Reuters reported. "Reports from rescuers, police and our chiefs suggest at (least) eight casual miners were inside the mining ground when the walls collapsed and buried them alive," Rotich saidTwo injured miners were taken to hospital, Kenyan broadcaster NTV reported on Saturday morning. "The place caved in because of the rains," Marsabit county commissioner David Saruni told NTV. Hundreds of people have been killed in floods and landslides across the country following weeks of torrential rains. Mining had continued despite authorities closing the mine near the Ethiopian border in March, after several people were killed in clashes between local communities over access to the area, Citizen TV reported.
Source:Ethiopian News
May 25, 2024 13:32 UTC
Lower food prices amid improved supply outlooks
Rice prices, which made significant gains in 2023Q4 and earlier in 2024, have also retreated since February, reflecting the currency depreciation of major exporters against the U.S. dollar, sluggish demand amid increased prices, and seasonal supply increases. Wheat and rice supplies in the 2023-24 season are estimated to be the second and third highest on record, respectively. Global supplies in the 2024-25 crop year are projected to be lower for wheat and higher for maize and rice compared to 2023-24. Food prices are expected to ease. The World Bank’s food price index is expected to decline by 6 percent in 2024 and an additional 4 percent in 2025.
Source:Ethiopian News
May 25, 2024 13:12 UTC
Man accused of raping woman in Miami Beach while impersonating Uber driver
Man accused of raping woman in Miami Beach while impersonating Uber driver A 38-year-old Northwest Miami-Dade man is accused of raping a woman he took for a ride in his car while impersonating an Uber driver.
Source:Ethiopian News
May 25, 2024 11:40 UTC
Pending Railway Corp restructuring envisions private sector involvement
Gov’t considering railway connections to neighboring ports including LamuThe federal government is considering an overhaul of the state-owned Ethiopian Railway Corporation that would enable it to get involved in the construction of new railway projects and onboard private railway operators. The officials disclosed the study considers the involvement of private railway operators in ERC. The plans also include the addition of several dry ports under the umbrella of ERC via the inclusion of private operators. “The private sector might not invest in railways but can use its own wagons to engage in transporting cargo. The official noted that new proposals may be included following discussions between the ERC board and Transport Ministry officials next week.
Source:Ethiopian News
May 25, 2024 08:03 UTC
Abiy urges China’s CCCC to expand engagements in Ethiopia
Prime Minister Abiy Ahmed called on the Chinese construction company, China Communications Construction Company (CCCC), to further enhance its positive engagements in Ethiopia. The call was made during his meeting with Wang Tongzhou, chairman of the CCCC, in the Ethiopian capital, according to the Office of the Ethiopian Prime Minister. Noting the CCCC’s “active engagements” across various construction activities in the East African country, Abiy emphasized the need for the Chinese construction company to further strengthen its positive contribution to the country’s construction sector. The CCCC has won acclaim for its robust engagements across largescale infrastructure development- Advertisement -projects in Ethiopia, including industrial parks, roads and major national development projects. The Addis Ababa-Adama expressway, regarded as the first expressway in Ethiopia and East Africa, is one of Ethiopia’s flagship infrastructure projects constructed by the CCCC.
Source:Ethiopian News
May 25, 2024 07:58 UTC
Amid diplomatic tensions, US Ambassador describes Ethiopia-US relations as ‘strong’
Ambassador Ervin J. Massinga (Photo: US Embassy in Ethiopia)Addis Abeba – In the wake of a recent policy address delivered by U.S. Ambassador Ervin J. Massinga, which the Ethiopian Ministry of Foreign Affairs characterized as “ill-advised” and containing “uninformed assertions,” Ambassador Massinga sought to assure continued positive relations. In a recent policy speech delivered at the “American Gibbi” Yemeni Community School in Addis Abeba on May 15, Ambassador Massinga addressed Ethiopia’s current security situation, national dialogue, and transitional justice initiatives. Furthermore, the Ambassador addressed various armed groups engaged in conflict with the government, including the Oromo Liberation Army (OLA) and the Fano militia in Amhara. However, the Ethiopian Ministry of Foreign Affairs criticized Ambassador Massinga’s speech, deeming it “ill-advised” and containing “uninformed assertions” about the government’s handling of the country’s affairs.
Source:Ethiopian News
May 25, 2024 05:27 UTC
Eatopia Eatery, Ethiopian Cuisine, has opened on U Street!!
The Potomac Roasting Company is stocked with excellent coffee to meet almost any palate. The Potomac Roasting Company is a local micro-roaster specializing in artisan coffee. We precision roast high-quality beans sourced from small farms in Latin America and Africa that are owned and operated by women. In Swahili, Usawa means balance and Kahawa means coffee. The beans are grown on small farms that are part of a cooperative promoting gender equity and market access for women.
Source:Ethiopian News
May 25, 2024 04:47 UTC
Learning to swim is an important lesson that can save a child's life
Learning to swim is an important lesson that can save a child's life Michael Haggard, a member of the advisory council to the National Drowning Prevention Alliance and attorney, said in addition to swimming lessons, there are other things parents can do to keep their children safe around the water.
Source:Ethiopian News
May 25, 2024 00:26 UTC
East Africa Metals Advances Ethiopian Projects
East Africa Metals (TSE:EAM) has released an update. East Africa Metals Inc. has secured an extension for the mine development periods of its Mato Bula, Da Tambuk, and Terakimti projects in Ethiopia, overcoming delays caused by regional conflicts. This extension facilitates the importation of mining equipment and the commencement of construction work, with the Adyabo and Harvest projects now having deadlines in 2028 for development. The company, which has a significant interest in multiple East African mining projects, continues to progress with a track record of investing over $66.8 million in exploration since 2005. For further insights into TSE:EAM stock, check out TipRanks’ Stock Analysis page.
Source:Ethiopian News
May 24, 2024 21:12 UTC
Kuwait eyes new markets as domestic help shortage bites
Cairo: A shortage of domestic workers is worsening in Kuwait amid a ban on labourers from the Philippines, according to experts. “It is necessary to open recruitment from new countries to boost the local market,” said Kuwaiti expert on domestic labour affairs Munir Al Usaimy. Al Usaimy made the remarks after a meeting with Kuwait’s acting ambassador to Ethiopia Nawaf Al Mutairi and Ethiopia officials concerned with domestic labour. They are favoured by a big category of citizens, a matter that requires finalising this file urgently,” Al Usaimy added. In January, Kuwait set maximum fees for recruiting overseas domestic workers.
Source:Ethiopian News
May 24, 2024 12:53 UTC
Airbus takes superconductivity research for hydrogen-powered aircraft
Confirmed interest in the potential of superconducting technologies for hydrogen-powered aircraft. PARIS – Airbus UpNext, a wholly-owned subsidiary of Airbus, has launched a new technological demonstrator to accelerate the maturation of superconducting technologies for use in electric propulsion systems of a future hydrogen-powered aircraft. “Our previous demonstrators have shown that superconducting technologies would be a key enabler for the high-power electrification of future hydrogen-powered aircraft. Airbus has been developing superconducting technologies for high-power electric propulsion for several years, culminating in the power-on of an integrated 500 kW cryogenic propulsion system last year. Cryoprop will confirm the potential of superconducting technologies for future aircraft applications, assessing all aspects related to safety, industrialisation, maintenance and operations.
Source:Ethiopian News
May 24, 2024 12:03 UTC
World Athletics ratifies Tigist Assefa’s women’s marathon world record in Berlin
Berlin: World Athletics, the governing body of international track and field competitions, has ratified Ethiopian star Tigist Assefa’s women's marathon world record of 2:11:53 set in Berlin last year. 13 women were still in contact with the lead as they reached 10km in 31:45, the World Athletics informed in a statement on Thursday. Less than two kilometres later, Assefa was alone out in front and she went on to reach the halfway stage in 1:06:20, comfortably inside world record pace. Spurred on by the knowledge that the world record was in the bag, Assefa picked up her pace in the closing kilometres and charged through the finish line in 2:11:53. IANSAlso Read: Ethiopian runner Tigist Ketema breaks world record for fastest marathon debutAlso Watch:
Source:Ethiopian News
May 24, 2024 11:15 UTC
Is Cardano a Good Investment in 2024?
Our own detailed Cardano price prediction sees Cardano potentially reaching more than $2.60 by 2025. Cardano Price Forecast 2024 Cardano was among more than a dozen cryptocurrencies named as securities in a June 2023 Securities and Exchange Commission (SEC) lawsuit against Coinbase. Our Cardano ADA price prediction puts the trading range between $0.40 and $1.03, with an average price of $0.60. Cardano Price Forecast 2030 Is Cardano a good long-term investment? Cardano describes the Ouroboros protocol as “provably secure,” comparing the security of the Cardano blockchain to that of Bitcoin’s highly secure blockchain.
Source:Ethiopian News
May 24, 2024 10:21 UTC
‘Normalised and invisible’: Online abuse targets Ethiopian women
She and her colleagues use social media to advocate for gender equality online by challenging gender norms and attitudes towards women in Ethiopia, Africa's second-most populous nation. "My colleagues and I have received threats online that have become increasingly violent, especially after we engaged in social media activism regarding women's rights," Betelehem told AFP. Since then, her social media and email accounts have been hacked and private information, including photos and her home address, stolen and shared online. The CIR said that with over 80 languages spoken in Ethiopia, social media companies lack the resources and staff to keep on top of abusive posts. "Government and social media companies must act urgently on this," she said.
Source:Ethiopian News
May 24, 2024 09:04 UTC