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Ethiopia to shift to mixed electoral rule

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.

Imported sugar to relieve chronic sugar shortage

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.

Ethiopian to fly to Chicago

To comply with US new stringent security rules As part of its service expansion plan, Ethiopian Airlines is planning to fly to Chicago, US, from its main hub in Addis Ababa as of June 2017.

Lion’s profit marginally up, shareholder return down

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.

Trump vows to end DV program

Embassy in Addis said no changes so far Following the New York rampage by an Uzbek immigrant that killed eight people earlier this week, President Donald Trump was quick to react on social media.

Italy, WBG to co-finance women entrepreneurs

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).

Victims of stadium fire claim they were abandoned

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.

CBE swallows Saygin Dima

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.

Dashen inaugurates 21-story new HQ Building

Dashen Bank is inaugurating today its newly completed modern headquarters. Located on Sudan Street in downtown Addis Ababa, the 21-story building occupies 2,690 sq. m. of a total 3,495 sq. m. of land.