House seats to increase by 110
The ruling Ethiopian People’s Revolutionary Democratic Front (EPRDF) and 15 opposition political parties agreed on Friday to institute a mixed electoral system in Ethiopia.
Chronic sugar shortage, one of the immediate causes for the recent violent clashes in Ambo that led to loss of lives and damage to property, is to be ameliorated thanks to the Ethiopian Sugar Development Corporation (ESDC) importing this week of 700,000 quintals of the commodity from Algeria and Thailand for a total of close to USD 30.5 million.
Lion International Bank S.C (LIB) ended the 2016/17 fiscal year with a three percent net profit increase to 268.4 million birr. The rate of profit growth this fiscal year is much lower than the preceding year’s when the bank registered an increase of 110 percent.
Supporting a project that helps women entrepreneurs in Ethiopia, the government of Italy has become the latest benefactor providing 15 million Euros in a co-financing scheme with the World Bank Group (WBG) targeting some 20,000 women engaged in small, medium and micro enterprises (SMEs).
Various families of victims of a fire that started at the site of the Adey Abeba Stadium are coming forward accusing the management of ill treatment of their loved ones as they recover in various locations throughout the nation.
The Commercial Bank of Ethiopia (CBE) has finally acquired the former Saygin Dima Textile S.C. under its own asset management company, Commercial Nominees (CN), and renamed it as SEDA Textile Company Plc, The Reporter has learnt.