Ethiopian local authorities crack down on price hikes after currency float
At least two Ethiopian local governments have ordered the closure of dozens of businesses found hiking prices of basic commodities after the central bank floated the national currency, officials said on Thursday. “The businesses were caught making unreasonable price increases mostly on food items … The stocks were imported before the new exchange rate,” said Sewnet Ayele, a spokesperson for the Addis Ababa City Trade Bureau. In Oromiya region, another 19 businesses were closed and three people detained, said Meseret Assefa, head of the Trade Bureau of Oromiya. “Those whose business are closed were the ones who increased prices on items just immediately after the (exchange rate) announcement,” Meseret said. A rate-cut from the Bank of England combines with some Q2 earnings surprises to create a mixed picture for European equities.
Source:Ethiopian News
August 01, 2024 21:50 UTC
Besintu Season 2 Episode 46– Ethiopian Comedy
Ethiopian comedyborkenaWatch Besintu Season 2 Episode 46– Ethiopian ComedyVideo : embedded from EBS TV YouTube channelCover Photo : screenshot from the videoJoin our Telegram Channel : t.me/borkenaLike borkena on FacebookEntertainmentAdd your Business to Ethiopian Business Listing / Ethiopian Business Directory JobsJoin the conversation. Follow us on X (formerly Twitter ) @zborkena to get the latest Ethiopian News updates regularly. Ethiopia Subscribe to YouTube channel To share information or for submission, send e-mail to info@borkena.com
Source:Ethiopian News
August 01, 2024 20:04 UTC
Ethiopia is in the midst of a kidnapping epidemic
T he road from the Ethiopian capital, Addis Ababa, to the town of Debark in the northern highlands is one of the country’s busiest thoroughfares. In recent months travellers have been terrorised by armed gangs who kidnap bus drivers and their passengers for ransom. On July 3rd more than 100 people were taken hostage by highwaymen demanding up to 1m birr ($17,500) per captive. “We’re too poor to pay,” says one relative. The sibling of another hostage says the kidnappers warned families that without payment they would never see their loved ones alive again.
Source:Ethiopian News
August 01, 2024 19:16 UTC
Ethiopia Commodity Exchange (ECX) Daily Trade Data – 30 July 2024
For all other commodities, price is in (Birr/Quintals), 1 Quintal = 100Kg. To get more commodity trade information, you may call ECX on short number 929 or text to them on short number 934.
Source:Ethiopian News
August 01, 2024 17:21 UTC
Biniam Girmay the 'game changer' - The past, the present and the future of Black Africans in cycling
Eritrea’s long cycling historyThe historic 2024 Tour de France came just nine years after the first Black Africans competed in cycling's biggest race. At the 2024 Tour de France, Girmay was asked about the impact that Teklehaimanot had on him as a teenager. He has now shown that Black Africans can not only take part but also win the biggest races in cycling. The situation is more stark in the Women’s WorldTour, which has never had a Black African rider in its number. ‘A springboard for change’If Black African riders are ever to form a significant percentage of the professional peloton, investment is needed to address the problems they, and others, face.
Source:Ethiopian News
August 01, 2024 16:49 UTC
Guess the Price: How much is this local coffee and wine?
On ARC Seattle Thursday, we're showcasing products from a local coffee shop and winery. Starbucks started right in our city, and local coffee shops can be found on almost every corner. On their website, the owner describes a memory of learning to roast coffee with his mother as a child. You can get a bag of Avole's dark roast Ethiopian coffee either in stores or online. Our producer glanced through their signature wines online and thought a particular 2023 rose sounded perfect for summer.
Source:Ethiopian News
August 01, 2024 16:09 UTC
Wolaitta Dicha and Ethiopia Coffee ramp up Signings
Ethiopian cup winners, Ethiopia Coffee, and runners - up, Wolaitta Dicha have been the most active in the transfer market. Wolaitta Dicha have made four signings and extended a contract of two players. Muluken Addisu, the other player who joined Wollayita Dicha from Sidama Coffee signed a two-year contract that allows him to earn 566 380 Birr monthly salary. Muluken played for Addis Ababa City in the League before heading to Sidama Coffee in 2022. In addition to these signings, the team extended the contracts of Azaryas Abel and Mesay Nikola for two years each.
Source:Ethiopian News
August 01, 2024 15:32 UTC
Misgana Wakuma finishes 6th in men’s 20-kilometre walk
The Ethiopian athlete Misgana Wakuma finished in 6th place in the men’s 20 km race walk at the Paris 2024 Olympics on Thursday, setting a new national record for Ethiopia with a time of 1:19:31, surpassing his own previous record. Ecuador’s Brian Pintado won the 20km race walk, pulling ahead of the pack in the final stages to claim his country’s first gold medal in the event. The participants competed on a one-kilometer loop in the center of Paris, walking at speeds exceeding 15 km/h in humid conditions, with temperatures around 23°C and 86% humidity. He soon took up race walking while attempting to join the Ethiopian Federal Police Club and received guidance from trainer Hamsale Yakob. The 2024 Paris Olympics are currently underway, but Ethiopian athletics fans will have to wait a bit longer to see their favorite athletes.
Source:Ethiopian News
August 01, 2024 15:12 UTC
Ethiopia approves 1.5-billion-USD financial agreements with World Bank's IDA
Addis Ababa: The Ethiopian House of Peoples' Representatives (HoPR), the lower chamber of parliament, on Wednesday endorsed financial agreements involving 1.5 billion US Dollars with the World Bank's International Development Association (IDA), a fund for the poorest countries. The agreements consist of a 1-billion-Dollar grant and a 500-million-Dollar concessional loan to Ethiopia, said Tesfaye Beljige, the government whip in parliament, Xinhua news agency reported. He said the financial agreements aim to support Ethiopia's comprehensive reforms, the target of which is to stabilize the macroeconomic imbalances, with a particular focus on creating jobs, curbing inflation, addressing foreign exchange shortages, and facilitating structural adjustments. The loan is interest-free with a six-year grace period and will be paid in 38 years. The agreements on the grant and loan was signed Tuesday by Ethiopia and the World Bank.
Source:Ethiopian News
August 01, 2024 14:25 UTC
Olympics 2024: Katie Ledecky wins gold in swimming; Team USA leads in men's basketball
Eighteen gold medals are up for grabs at the Paris Games tomorrow. USA gymnast Simone Biles will compete in the Women’s Individual All-Around, and a USA swimming team that includes Katie Ledecky will be in the Women’s 4x200m Freestyle Relay. Here are some of the events and when to watch:Track and FieldThe Men’s 20km Race Walk starts at 1:30 a.m. ET/7:30 a.m. ParisWomen’s 20km Race Walk is 3:20 a.m. ET/9:20 a.m. ParisShootingMen’s Smallbore Rifle, Three Positions is at 3:30 a.m. ET/9:30 a.m. ParisRowingWomen’s Double Sculls is at 5:18 a.m. ET/ 11:18 a.m. ParisMen’s Double Sculls, 5:30 a.m. ET/11:30 a.m. ParisWomen’s Four, 5:50 a.m. ET/11:50 a.m. ParisSailingMen’s Skiff, 8:43 a.m. ET/2:43 p.m. ParisWomen’s Skiff, 9:43 a.m. ET/3:43 p.m. ParisJudoMen’s Half Heavyweight (100 kg/220 lbs. ), medal rounds begin, 11:18 a.m. ET/5:18 p.m. ParisWomen’s Half Heavyweight (78 kg/172 lbs. ), medal rounds begin, 11:49 a.m. ET/5:49 p.m. ParisCanoe SlalomMen’s (K-1) Kayak Single, 11:30 a.m. ET/5:30 p.m. ParisGymnasticsWomen’s Individual All-Around, 12:15 p.m. ET/6:15 p.m. ParisFencingWomen’s Team Foil, medal bouts, 1:10 p.m. ET/7:10 p.m. ParisSwimmingWomen’s 200m Butterfly, 2:30 p.m. ET/8:30 p.m. ParisMen’s 200m Backstroke, 2:38 p.m. ET/8:38 p.m. ParisWomen’s 200m Breaststroke, 3:11 p.m. ET/9:11 p.m. ParisWomen’s 4x200m Freestyle Relay, 4:03 p.m. ET/10:03 p.m. Paris
Source:Ethiopian News
August 01, 2024 11:47 UTC
Lawyers for Families of Passengers Killed in 737 Max Crashes Ask Court to Block Boeing Plea Deal
Some of the lawyers argued that the Justice Department has treated Boeing lightly because the company is a major contractor to the U.S. government. Under this month's deal, Boeing would pay a fine of at least $243.6 million, invest $455 million in compliance and safety programs, and be placed on probation for three years. The Justice Department and Boeing would pick a monitor to oversee the company's compliance. The families' lawyers also argued that the size of the fine Boeing would pay was far too small. They further argued that the court, and not the Justice Department, should pick the monitor to oversee Boeing during its probation.
Source:Ethiopian News
August 01, 2024 09:38 UTC
MobiFin at the Forefront of Connected Banking Summit 2024 in Ethiopia as a Gold Sponsor
MobiFin is a Gold Sponsor at the Connected Banking Summit Ethiopia 2024. Learn how our next-gen digital banking solutions can help your bank succeed. ADDIS ABABA, ETHIOPIA, August 1, 2024 / EINPresswire.com / -- Digital innovation is the driving force propelling the Ethiopian banking industry forward. "We at MobiFin are excited to contribute to this growth story by sharing our vision for an AI-powered banking future at the Connected Banking Summit 2024. By working together, we can create a digital-first and resilient financial ecosystem that drives Ethiopia towards economic development.
Source:Ethiopian News
August 01, 2024 09:07 UTC
Sifan Hassan to run 5,000m, 10,000m and marathon in Paris
Sifan, who was initially registered to compete in all four events, sent shockwaves through the sport when she attempted an unprecedented Tokyo treble three years ago. One of the toughest fighters on the track, Hassan fell during her opening 1,500 heat but came roaring back to advance and ultimately take bronze. Sifan, will begin her Olympic campaign with the 5,000 opening round on Friday and the final set for Monday. Kipyegon, the first woman to claim a 1,500-5,000 double at the worlds last year, will await Sifan in the 5,000 in Paris. In March this year she was fourth in the Tokyo Marathon, another of the world marathon majors.
Source:Ethiopian News
August 01, 2024 07:59 UTC
Hassan takes on long-distance challenge at Olympics
PARIS — Attempting to defend her 5,000- and 10,000-meter titles at the Olympics isn't enough for Ethiopian-born Dutch runner Sifan Hassan. She also will push herself in the ultimate test of endurance, adding the marathon to her program at the Paris Games. "I can't tell you I'm going to get the gold medal in every event," Hassan said Wednesday. But now she can match Emil Zatopek's exploit from 1952, when the Czech runner swept the 5,000, 10,000 and the marathon at the Helsinki Games. When Hassan started winning multiple events earlier in her career, she learned about Zatopek and watched a film about him.
Source:Ethiopian News
August 01, 2024 04:19 UTC
Ethiopia Says ICE Vehicle Import Ban Continues As Part of New Economic Reforms, Only EV Imports Allowed!
It was an immediate ban on the import of ICE cars. Tens of thousands of electric cars have been imported into Ethiopia in such a brief period. The initial decision to restrict the import of ICE cars was a very bold move by the Ethiopian government. Ethiopia has a population of 126 million people, but the total number of vehicles registered in Ethiopia is around 1.2 million. With the government reiterating its position and maintaining a ban on the imports of fully-built ICE vehicles, Ethiopia could become one of the fastest countries to transition to electric.
Source:Ethiopian News
July 31, 2024 23:58 UTC