EUROTRASH Thursday: Van der Poel & Van Aert Cross Christmas Victories
Van Aert was gradually being gained on by Van der Haar and Nieuwenhuis, who were still in 3rd and 4th positions. Pidcock would have to chase 3rd place, because Van Aert was safe with his 2nd place, while Van der Poel was not going to give away the victory. In the fight for 3rd place between Pidcock, Nieuwenhuis and Van der Haar, it was Van der Haar who was the first to be dropped. I have already been on the podium here with Mathieu van der Poel and Wout van Aert, so I have good memories.”Telenet Superprestige – Heusden-Zolder Men Result:1. Heusden-Zolder’23Telenet Superprestige – Heusden-Zolder Women 2023Fem van Empel suffered her first defeat of the cross season on Tuesday, but was back on top on Wednesday, although Van Empel wasn’t given the win on a plate.
Source:Ethiopian News
December 28, 2023 09:51 UTC
Ethiopia in Credit Default
Fitch has issued another downgrade to Ethiopia’s credit rating, putting it squarely in junk territory with a ‘Restricted Default’ or RD status. The credit rating agency has issued what it calls a “Long Term Issuer Default Rating” after the Ethiopian government failed to pay the first coupon on its outstanding USD one billion Eurobond due in full by December next year. The USD 33 million coupon payment was due December 11, 2023, with a two-week graceperiod. The Eurobond was secured in 2014 and used to fund the construction of industrial parks,including the flagship Hawassa Industrial Park. - Advertisement -The default rating is the latest in a series of four consecutive credit downgrades issued by Fitch Ratings since December 2022.
Source:Ethiopian News
December 28, 2023 07:44 UTC
Black Business: Puzzle Huddle
Puzzle Huddle was created by Matthew Goins. Frustrated with the lack of diverse images shown on commercially-produced puzzles. Matthew began by printing images from the internet and hand-cutting puzzles at home with a pair of scissors. Puzzle Huddle offers children’s jigsaw puzzles that feature aspirational and affirming images. Visit the website to shop and subscribe.
Source:Ethiopian News
December 28, 2023 06:05 UTC
Ethiopian and Citi agree financing deal
Credit: Lubo Ivanko/ ShutterstockEthiopian Airlines, said to be Africa’s largest carrier, has secured a loan worth $450m from banking giant Citi Group to finance five new aircraft. The airline will purchase all five jets from Boeing: three passenger 737-8 jets and two 777F planes for freight operations. Citi was also keen to point to the US-Ethiopia business ties the deal will create, with the aircraft built at Boeing’s facilities in Washington, US, before handover to the airline. Ethiopian Airlines Group CEO Mesfin Tasew said: “We are pleased to announce that we have reached an agreement with Citi to secure a USD $450 million loan. This financing will allow us to expand our fleet size by adding five new aircraft, three B737-8 MAXs and two 777 Freighter.
Source:Ethiopian News
December 28, 2023 05:58 UTC
Suspect arrested, charged with murder in fatal Christmas Day shooting outside of Garland hookah lounge, police say
Witnesses at the scene told first responders that the incident started as an altercation that escalated to gunfire, police said. GARLAND, Texas — A 34-year-old man is dead, and a 24-year-old man has been arrested and charged with murder, following an altercation that escalated to gunfire outside of an Ethiopian restaurant and hookah lounge in Garland on Christmas Day, police said. Witnesses at the scene told first responders that the incident started as an altercation that escalated to gunfire, police said. Police have since arrested 24-year-old Johnny Lewis III and charged him with Baranja's murder. Lewis is currently being detained at the Garland Detention Center, and no bond has yet been set in his case.
Source:Ethiopian News
December 28, 2023 01:57 UTC
Ethiopian Tourism Pavilion At Karachi Feast Gets Overwhelming Response
Addis Ababa, — The Ethiopian Tourism Pavilion at the Karachi Feast received an overwhelming response through attracting an impressive influx of more than 25,000 visitors over the three-day extravaganza. The Ethiopian Embassy in Islamabad said that the spectacle which concluded on Sunday was graced by Pakistan's Minister for Youth Affairs, Sports, Culture and Tourism, Junaid Shah. The minister lauded the Embassy of Ethiopia for introducing tourism and culture of Ethiopia in Pakistan. The Ethiopian Tourism Pavilion gave a captivating display of Ethiopia's multifaceted culture, rich heritage, and unparalleled tourism offerings. The cultural performances by the Ethiopian Embassy elicited immense applause, further enhancing the impressive experience for the Karachi audience.
Source:Ethiopian News
December 27, 2023 23:46 UTC
American Affair launches January sale and agent incentives
American Affair is the sister company of award-winning North America travel specialist Canadian Affair. American Affair, the sister operator to Canadian Affair, today (27th December, 2023) launches its spectacular Ultimate Sale for Agents (USA), with incentives for travel agents and major savings for their customers. Every booking made with American Affair during the sale counts as one entry to win a place. Stuart Rogers, Head of Product and Commercial at American Affair, says: “January is always an exciting time for us. This sale extends an invitation to customers to start planning their next holiday adventure to the USA through American Affair.
Source:Ethiopian News
December 27, 2023 21:30 UTC
In-depth: From spotlight to the shadows: Ethiopia’s tourism odyssey hangs in the balance
The World Travel & Tourism Council‘s most recent analysis highlights that Ethiopia’s travel and tourism sector has undergone marked volatility from 2019 to 2022, largely as a result of the worldwide COVID-19 health crisis and ongoing internal strife. The employment scenario within Ethiopia’s travel and tourism sector also experienced a decline in 2022 when contrasted with 2019 figures. “Peace is the missing polish for Ethiopia’s tourism crown,” lamented Nahom, who observed that tourists stay away, leaving not just empty streets but empty coffers. The most recent analysis from the World Travel & Tourism Council suggests that Ethiopia’s travel and tourism sector has demonstrated notable resilience amidst global adversities, with an encouraging pattern of recovery becoming apparent by the year 2022. According to the report, a pivotal element of Ethiopia’s travel and tourism revenue, visitors’ spending, reached ETB193.1 billion (equivalent to $3.7 billion) in 2022.
Source:Ethiopian News
December 27, 2023 14:01 UTC
Ethiopia joins Ghana, Zambia as latest African country to default
Ethiopia on Tuesday became Africa's third default in as many years after it failed to meet a $33 million "coupon" payment on its sole international government bond. Africa's second most populous country announced earlier this month that it intended to formally go into default, having been under severe financial strain in the wake of the COVID-19 pandemic and a two-year civil war that ended in November 2022. It had been supposed to make the payment on Dec. 11, but technically had up until Tuesday to provide the money due to a 14-day "grace period" clause written into the $1 billion bond. The East African country first requested debt relief under the G-20-led initiative in early 2021. Credit ratings agency S&P Global then downgraded the bond, to "Default" on Dec. 15 on the assumption that the coupon payment would not be made.
Source:Ethiopian News
December 27, 2023 13:53 UTC
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US dollar hits highest exchange rate on Egypt's black markets
Egypt’s black market exchange rate for the US dollar reached a record high of 53 Egyptian pounds amid calls for the cash-strapped North African country to devalue its currency. Increased demand for US dollars in late November resulted in a drop of dollars on the market, he said. However, analysts have warned that the Egyptian pound is severely overvalued, which has made dollar holders sell on the black market instead. The government itself is one of the biggest black market clients for US dollars in Egypt,” the analyst added. Egypt's government has devalued its currency three times since March 2022 and its inflation rate has continued to rise steadily since then.
Source:Ethiopian News
December 27, 2023 12:01 UTC
Building Bridges of Faith: An engaging interview with Rustom Mkhjian on Jordan’s Baptism Site
Unveiling Jordan’s baptism site’s significance, the insightful interview with Rustom Mkhjian highlights interfaith harmony and future collaborations in religious tourism. Religious and pilgrimage tourism is estimated to move more than 300 million faithful tourists, to pilgrimage travel, to visiting religious sites, to engaging in religious significance events and celebrations. Unveiling Jordan’s Baptism Site’s significance, this insightful interview with Rustom Mkhjian, among other aspects, highlights interfaith harmony and future collaborations in religious tourism. Mr. Mkhjian, explains that the Baptism Site Commission is an independent Board of Trustees appointed by H.M. King Abdullah II bin Al-Hussein of Jordan, and H.R.H. This collaboration is expected to be further enhanced at the special event at the Baptism Site, in January 2024, celebrating the Silver Jubilee of His Majesty’s reign and the Epiphany at the Baptism Site, expecting a large international congregation.
Source:Ethiopian News
December 27, 2023 08:46 UTC
Ethiopia defaults on $33 Million bond payment
Ethiopia officially entered default territory nn Tuesday, becoming Africa's third nation to do so within a span of three years. The failure to make a $33 million "coupon" payment on its sole international government bond underscores the country's severe financial challenges exacerbated by the COVID-19 pandemic and a recently concluded two-year civil war in November 2022. The payment, originally due on December 11, had a technical grace period extending until Tuesday, thanks to a 14-day clause in the $1 billion bond agreement. Subsequently, credit ratings agency S&P Global downgraded the bond to "Default" on December 15, based on the assumption that the coupon payment would not be fulfilled. The default places Ethiopia in a challenging economic position, requiring strategic measures to address its financial instability and navigate the complexities of debt restructuring.
Source:Ethiopian News
December 27, 2023 08:17 UTC
Black Business: Brilliant or BS
Brilliant or BS is the latest Black-owned game to hit the shelves of Target stores nationwide. Founded by Kimelia and Nick the husband and wife duo that also created the game One and Done. The 4-6-player party game combines classic trivia with a little bit of bluffing and social deduction for hilarious results. Visit the website to shop all of their products. https://brilliantorbs.com/ email: info@brilliantorbs.com
Source:Ethiopian News
December 27, 2023 07:45 UTC
FITUR and Impulsa Igualdad announce the opening of the call for entries for the 1st FITUR 4all Awards
Along with the launch of the FITUR 4all section, the first awards will be announced at FITUR to recognise efforts in the development of inclusive tourism. Its vocation is to give visibility, thank and encourage commitment in moving towards inclusive tourism. The FITUR 4all Awards will be presented in four categories:National Destination, International Destination, Inclusive Tourism Company and Inclusive Organisation or Institution. Finally, recognition will be awarded to the Inclusive Organisation or Institutionthat has successfully promoted initiatives that embrace collaboration, awareness-raising and implementation of inclusive policies. The winners will receive a diploma and a trophy, which will be awarded at the Fitur 4all Awards ceremony at FITUR 2024 at IFEMA MADRID.
Source:Ethiopian News
December 27, 2023 07:16 UTC
Ethiopia’s National Bank Governor: “No Foreign Currency Rate Adjustment Will Be Made at This Time”
Ethiopia has undergone recurring foreign currency devaluations in the past few years. Amid continuous meetings with institutions like the IMF, there have been concerns that the National Bank of Ethiopia might further devalue the Ethiopian Birr. In the last Ethiopian fiscal year, Ethiopia raised $24 billion in foreign currency from various sources. Mamo Mihretu, Governor of the National Bank of Ethiopia, dismisses the prospect of a currency rate adjustment, stating that there won’t be one at this point. Subscribe to YouTube channel To share information or for submission, send e-mail to info@borkena.com
Source:Ethiopian News
December 27, 2023 06:03 UTC