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Hyatt to open doors in Ethiopia

Hyatt Hotel and Resorts has announced its plan to open six hotels within Africa within three years. Among the six announced by the luxury collection on Tuesday were Algeria, Cameroon, Ethiopia, and Senegal.

Ethiopian becomes paperless company

Ethiopian Airlines Group yesterday announced that it has fully taken paper out of its business operations. To commemorate the date Ethiopian Airlines Group CEO Tewolde Gebremariam signed the company’s last paper document approval and burnt down used papers.

IMF softens tone on Ethiopia, projects high growth

Projects a nine percent GDP growth Unlike preceding Article IV consultation reports on the Ethiopian economic affairs, the International Monetary Fund (IMF) has relaxed its judgment on how the government of Ethiopia is managing the economy.

Karuturi contemplates legal recourse for loss in Ethiopia

 Appeals to PM for re-export of farm equipment, cries foul and exits frustrated After a fairly long silence following the takeover of its farms by the Government of Ethiopia, Sai Rama Krishna Karuturi, founder and chief managing director of the Indian Karuturi Group (a parent company of Karuturi Agro Products PLC) wrote to Prime Minister Hailemariam Dessalegn that he and his company wish to exit Ethiopia and appealed to the PM that he will be allowed to re-export his farm equipment back to India.

Lifan proposes to export coffee, sesame to alleviate Forex shortage

Unveils new brand, targets high-end vehicles market Attempting to overcome shortages of hard currency, which is debilitating the operations of Lifan Motors in Ethiopia, the Chinese carmaker reveals intentions to join the agricultural commodity export business focusing on coffee and sesame as potentially tradable commodities, The Reporter has learnt.