China and Ethiopia: Booming Sci-tech Exchanges
The initiative signifies the East African country's strides to tap the global satellite data market. Ethiopia's first ever earth observatory satellite, the ETRSS-1, was launched into space from China in 2019. In 2021, Ethiopia opened a 7.3 meters multi-satellite tracking and data receiving ground station at the Entoto Observatory and Research Center. This is a vivid example of the deepening cooperation in space technology as well as the flourishing sci-tech cooperation between China and Ethiopia in recent years. The two parties recently signed a series of bilateral cooperation documents on the Belt and Road Initiative cooperation, economic and trade cooperation, space technology, and Earth science.
Source:Ethiopian News
October 16, 2024 12:51 UTC
World Bank says Naira among worst performing currencies
In the latest edition of Africa’s Pulse, a new report by World Bank, the naira has been listed among the worst-performing currencies in Sub-Saharan Africa in 2024. The World Bank’s report further noted that demand for dollars, spurred by financial institutions, non-financial end-users, and money managers, has exacerbated the pressure on the naira. It noted, “By August 2024, the Ethiopian birr, Nigerian naira, and South Sudanese pound were among the worst performers in the region. The Nigerian naira continued losing value, with a year-to-date depreciation of about 43 per cent as of end-August. The naira’s struggle reflects broader economic challenges in Nigeria, including limited foreign currency reserves and ongoing inflationary pressures.
Source:Ethiopian News
October 16, 2024 12:49 UTC
Nigeria's Naira Alongside Ethiopia, South Sudan Ranked As Worst-Performing Currencies In Africa
The official currency of Nigeria, naira has depreciated by about 43% as of August 2024, making it one of the worst-performing currencies in Sub-Saharan Africa. According to the World Bank’s Africa Pulse report, the Nigerian naira, along with the Ethiopian birr and South Sudanese pound, ranked as the region's weakest currencies. The report cited increased demand for US dollars, limited dollar inflows, and delays in foreign exchange disbursements by Nigeria’s Central Bank as major factors. “By August 2024, the Ethiopian birr, Nigerian naira, and South Sudanese pound were among the worst performers in the region. However, many African economies, including Nigeria, continue to experience foreign exchange shortages and exchange rate pressures.
Source:Ethiopian News
October 16, 2024 09:31 UTC
Try something new when Tesfa Ethiopian heads your way this week! Order by 10am.
Whether you've never had Ethiopian food, or you're already a fan, we hope you're excited for Tesfa Cuisine to come to you in Wheaton, Elmhurst, Glen Ellyn, Lombard, and Oak Park on Wednesday, October 23rd! Tefsa, one of the most highly rated Ethiopian restaurants in Chicago, offers traditional Ethiopian cuisine, with samplers for two, family samplers, and samplers for vegetarians and meat eaters. Popular choices include the Siga Wot, or spicy Ethiopian beef stew. the Doro Wot, or spicy chicken stew, or the vegetarian Tesfa specialty, Yetimatim Wot, which is a tomato stew. Your order will be available for home delivery between 3:00 - 5:30pm.
Source:Ethiopian News
October 16, 2024 05:38 UTC
Nirvana Soul coffee, 49er T.Y. McGill team up for fundraiser
There’s good reason for South Bay football fans to make a chai latte their drink of choice this NFL season. The Nirvana Soul coffeehouses have teamed up with San Francisco 49er T.Y. McGill to create a special coffee blend and signature latte to benefit McGill’s Purpose Project. For the medium-roast coffee blend, Nirvana Soul uses Ethiopian and Ugandan beans. Nirvana Soul, a trailblazing Black-owned business, was launched in 2020 by sisters Jeronica Macey and Be’Anka Ashaolu.
Source:Ethiopian News
October 16, 2024 04:20 UTC
This week in Buffalo food: Pumpkin spice wings return for seasonal visit in Springville
When Julie’s Pizzeria in Springville first shared a new pumpkin spice seasonal wing flavor on social media a couple of autumns ago, the response was mixed. Collesano was inspired by a recipe from his restaurant distributor, Sysco, for Frank’s RedHot Pumpkin Spice Wings. They're an acquired taste, but one worth acquiring, at least for pumpkin spice season. Maybe a foliage-filled drive Springville for pumpkin spice wings could become a new fall food tradition. Lake Effect Ice Cream winter hoursWhen the outside temperature starts to match the cold air within an ice cream cabinet, Lake Effect Ice Cream usually closes its Hertel location for the winter – but not this year.
Source:Ethiopian News
October 16, 2024 03:01 UTC
Sukkah of a different kind: Pajama party in the bomb shelter
Beachwood, OH (44122)TodayCloudy this morning. A few showers developing during the afternoon. Winds NNW at 10 to 15 mph. Chance of rain 30%..TonightCloudy skies early, followed by partial clearing. Winds WNW at 5 to 10 mph.
Source:Ethiopian News
October 16, 2024 02:51 UTC
Ethiopia’s Central Bank Imposes New Policy on FX Spreads, Commission Fees
The National Bank of Ethiopia (NBE) has mandated financial institutions in the country to separately include their forex trading spreads in their daily posted rates to enable transparency. The forex trading spread is the difference between a bank’s buying and selling rate for a foreign currency and should not exceed 2% for the posted rates. The Ethiopian apex bank has also required financial institutions to independently report and disclose forex-related fees and commissions to their clients. These FX fees shall also be regularly reported to the NBE for review and assessment. “However, based on lessons gained from experience and inputs received from the banking sector, it has now become important to review the earlier decision regarding the treatment of FX related spreads and fees,” NBE added.
Source:Ethiopian News
October 16, 2024 01:06 UTC
Met Returns Greek Artifact to Italy After Researchers Find Links to Looting
The Metropolitan Museum of Art has returned another ancient Greek drinking vessel to Italian officials overseeing the countries’ repatriation efforts after finding the artifact was likely looted from its origin site. The returned item, a kylix produced by an anonymous workshop dating back to around 490 B.C. The piece is nearly identical in structure and coloring to another cup the Met retuned to Italy in 2022. According to the New York Times, which first reported news of the second cup’s return, fragments of each vessel were temporarily owned by individuals connected to the stolen artifacts. The museum had been collecting pieces of the artifact since the late 1970s.
Source:Ethiopian News
October 15, 2024 20:33 UTC
Ethiopia: Customs Commission Exceeds First Quarter Revenue Target
The Ethiopian Customs Commission (ECC) has announced a record revenue collection of Birr 88.1 billion for the first quarter of the fiscal year, surpassing its initial target of Birr 87.2 billion. ECC Chief Commissioner Debele Kabeta, highlighted that the revenue exceeded last year’s first-quarter figures by over Birr 38 billion, reflecting a 77% growth. In addition to revenue collection, the ECC has intensified its crackdown on contraband and illegal trade. Debele revealed that goods worth billions of Birr were seized at ports, and the Commission’s enhanced monitoring efforts saved the country Birr 50.5 billion Birr by preventing smuggling activities. Formed to enhance trade facilitation and revenue generation, the ECC remains committed to enforcing customs laws, collecting duties, and combating illegal trade across Ethiopia.
Source:Ethiopian News
October 15, 2024 20:27 UTC
Pentagon grants honorable discharges to more than 800 veterans kicked out under Dont Ask, Dont Tell – Deltaplex News
The Pentagon on Tuesday granted honorable discharges to more than 800 veterans who were separated from the U.S. military because of their sexual orientation during the “Don’t Ask, Don’t Tell” policy, which was in effect from February 1994 to September 2011. After 2011, most of those who filed appeals were upgraded, but others might not have been aware this was an option. The Pentagon announced Tuesday that its review has led to an upgrade for more than 800 veterans, without them having to appeal. What this means is that of the nearly 13,500 individuals who were administratively separated under Don’t Ask, Don’t Tell policy, and served long enough to receive a merit-based characterization of service, 96% now have an honorable discharge,” Defense Secretary Lloyd Austin said in a statement. The vast majority of those separated under the policy now have honorable discharges, according to Austin.
Source:Ethiopian News
October 15, 2024 18:52 UTC
Q36.5 loses African identity: Ethiopian champion Abreha must look for new team on Twitter
The Q36.5 Pro Cycling rider is therefore making a final plea for help on social media. With the departure of the Ethiopian champion, the Swiss formation (formerly the South African Dimension Data) is losing their last African rider. On X, the Ethiopian let it be known that his adventure with Q36.5 Pro Cycling is over. "I am currently the national champion of Ethiopia and also a pro cyclist for Q36.5 pro team… at least until the end of the year. Q36.5 Pro Cycling previously wiped out continental teamThe Ethiopian champion's departure is another sign of things to come for the Swiss team.
Source:Ethiopian News
October 15, 2024 18:52 UTC
Ethiopian Airlines launches daily flight to Port Sudan
ADDIS ABABA, Oct. 15 (Xinhua) -- Africa's leading carrier Ethiopian Airlines announced Tuesday the launch of a daily flight service to Port Sudan, a port city in eastern Sudan. This new route expands Ethiopian Airlines' network to 66 destinations across Africa, the airline said in a statement. The statement said the new route will offer seamless travel options for passengers traveling between Ethiopia and Sudan, while also connecting travelers from its vast network to this significant Red Sea port city. The airline noted the new flight will strengthen its commitment to enhancing connectivity across Africa and beyond, fostering regional socio-economic growth and facilitating trade and tourism. Strategically located along the Red Sea, Port Sudan serves as a vital hub for commerce and business in the region, offering a gateway to Sudan's rich cultural history and emerging economic opportunities.
Source:Ethiopian News
October 15, 2024 18:17 UTC
More than 259,000 visas are issued in Ethiopia in three months
The Ethiopian Immigration and Citizenship Service has announced that it has issued visas to 259,705 visitors in the last three months. Director General Selamawit Dawit outlined the performance, noting that the service facilitated the entry and exit of more than 1.1 million travellers via air and land routes. This is a significant increase from the same quarter last year, indicating a positive trend in the number of visitors to Ethiopia, as reported by ENA , a partner of TV BRICS. In addition, the service said that passports issued to citizens aged 25 and above will now have a validity period of 10 years, in line with new operational guidelines. Earlier, Ethiopia's Immigration and Citizenship Service (ICS) has announced the start of the pre-registration and verification phase for the Electronic Passport.
Source:Ethiopian News
October 15, 2024 17:38 UTC
Safaricom extends its M-Pesa Global service to Ethiopia
Kenyan and Ethiopian service provider Safaricom has extended its M-Pesa Global service – which enables M-Pesa registered customers to send and receive money globally – to Ethiopia, allowing customers make mobile money transactions from Kenya to Ethiopia. Customers of M-Pesa Kenya can now make mobile money transfers to M-Pesa Ethiopia via the M-Pesa International Remittance. Safaricom suggests that key beneficiaries of the latest development will include Ethiopians living and working in Kenya and Kenyans living and working in Ethiopia. In addition to Ethiopia, M-Pesa customers can also send and receive money to and from over 190 countries. Of course M-Pesa has long been a major part of Safaricom’s appeal, first in Kenya and now in Ethiopia where, according to the Connecting Africa news service, by May 2024 M-Pesa had 4.5 million total registered mobile money users.
Source:Ethiopian News
October 15, 2024 15:40 UTC