Saudi billionaire to buy Ghion Hotel
 

By Groum Abate

Saudi billionaire, Prince Alwaleed bin Talal, who is listed as the world’s sixth wealthiest entrepreneur by Forbes magazine two years ago, has revealed his interest to government officials for the full acquisition of Ghion Hotel and its chain of hotels.

City government in dilemma

Demolish 60,000   illegal houses or not?

By Tamiru Geda

The Council of the Addis Abba City is paying serious attention to the fate of thousands of illegally built houses in the city, before the general meeting that was held between the citizens of the metropolis and the new governors of the city that took office a year ago.
 

Negotiations between CBE and Amalgamated fails

Company terminates employees contracts, liquidates

By Tamiru Geda

A series of negotiations and discussions undertaken between the Commercial bank of Ethiopia [CBE] and Ethiopian Amalgamated Limited [EAL], to look for solutions designed to rescue the company from financial bankruptcy has failed.

Customs issue new depreciation directive

For transfer of duty free items

By Groum Abate

Ethiopian Customs Authority with the Ministry of Revenue has issued a new directive for the purpose of calculating depreciation of items imported duty free when they are transferred to a third party.

Mobilizing Diaspora dollars & skills

www.ethiopiandiaspora.info launched

By our staff reporter

The International Organization for Migration (IOM) organized a workshop on the Mobilization and Utilization of Diaspora Skills and Remittances for the Development of Ethiopia.

Emirates Airlines: New threat for Ethiopian

By Tamiru Geda

Airlines’ merging internationally, both in assets as well as human forces, or sharing their routes in the world market is becoming a threat for the competitors who have not yet integrated such business strategies in their plan of actions.

Illegally for sale duty-free furniture confiscated

By Tamiru Geda
 

Large quantities of very expensive furniture imported duty-free to furnish one of the new hotels in Addis are said to have been seized by the customs intelligence team backed by the court order.

Gender and budget, two sides of a coin

By Tamiru Geda
 

Focusing on the allocation of funds through the budgeting system is said to be an important concern for the empowerment of women in the development of the economy, without which the millennium development goals do not have a chance of being met. Creating awareness is also important to the public.

Donors force a re-tender of Gojeb hydroelectric project

By Tamiru Geda

Donors with special interest in the development of the infrastructure of the country asked the Ethiopian Electric Powers Corporation [EEPCo] to re-tender the bid for the implementation of the Gojeb hydroelectric power project.

AACC appoints acting secretary general

Eyesuswork Zafu takes over the reigns

By Tamiru Geda

The Board of the Addis Ababa Chamber of Commerce appointed Ato Hailemeskel Abebe as acting Secretary General of the Chamber, following Ato Hussien Shibeshie’s notification by fax that he had traveled to the United States for medical attention, in the footsteps of Berhane Mewa who is also reported to be there.