Minister of Trade and Industry Tadesse Haile with Ato Tesfaye of Lion insurance and the president Nega G/Egziabher, at launching of Lion Insurance S.C. on July 12, 2007
Former Rental Agency heads in custody
By Tedla Desta
Two former heads of the Rental Houses Agency are in custody in an alleged case of corruption filed by the Federal Ethics and Anti-Corruption Commission, Capital learnt.
Meselech Berhan, General Manager of the former Rental Houses Agency, and Wondwosen Asfaw, Technical and Engineering Department Head of the Agency, were arrested last week by the Federal Ethics and Anti-Corruption Commission for allegedly buying five lifts from Dan Technocraft in an illegal manner, Federal Ethics and Anti- Corruption Commission's Education and Public Relations Head, Berhanu Aseffa told Capital.
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Shareholders, stakeholders from United Bank to sue the National Bank
By Andualem Sisay
Categorically refuting SBB/39/2006 - the new directive of the National Bank of Ethiopia (NBE) - shareholders and stakeholders from United Bank S.C. in their capacities as bank members as well as individually have come together to sue NBE. They are currently completing formalities to take NBE to court on the basis that shareholders' rights have been abused, or that the directive negates certain basic rights which are recognized by law.
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ETC fires sixteen employees at administrative level
By Andualem Sisay
The Ethiopian Telecommunications Corporation (ETC), has fired sixteen employees working in higher levels of administration it found to be corrupt as a result of its audit report.
According to the statement by ETC released to the press on July 13, 2007, the reason for firing the officials is related to the purchae of 625 Erickson and Nokia mobile phone apparatus and Lucent PBXs.
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