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  Click here for Last Week's Issue Updated August 25, 2008


High demand for mobile phone handsets has crowded outlets across Addis Ababa as new subscribers take advantage of the latest release of SIM cards by ETC-a move which has caught handset retailers off-guard. Limited supplies have caused a sharp spike in the price of handsets. Undeterred, the public forms long lines at mobile phone shops-eager to finally be able to possess a coveted status symbol.

Vehicle taxation period extended to avoid fraud

By Tedla Yeneakal

The tax payment period for on imported vehicles, which was previously collected at the same time as customs duty, has been extended to allow the newly structured Revenues and Customs Authority enough time to inspect details of vehicles imported into the country.
Abebe Kebede, Head of the Public Relations at the authority, told Capital it is not a new regulation but rather part of a re-structuring to effective tax collection from imported vehicles by investigating the actual tariff of vehicles in the international market and checking this against the price claimed by the importer.
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MoWUD to build one million houses: State Minister

By Abiy Demilew

Arkebe Oqubay, State Minister, Ministry of Works and Urban Development (MoWUD), has projected that, a minimum of one million houses will be constructed around the nation, over the next ten years.
Arkebe, in a Capital exclusive, revealed that, besides the construction of one million houses across the nation, the poverty level in cities will also decline by 50%, according to his projection.

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Electoral Board accredits UDJ

By Kirubel Tadesse

The National Electoral Board of Ethiopia (NEBE) has issued a certificate of accreditation to the latest national political party, Unity for Democracy and Justice (UDJ), Capital learnt.
In its ordinary session held on Friday August 22, 2008, the Electoral Board decided to issue accreditation after it examined that UDJ has met all the legal criteria, filed the necessary documents, and made adjustments as per recommendations of the Board, Tesfaye Mengesha, NEBE Office Chief, explained to Capital.
Formed by the former Coalition for Unity and Democracy Party (CUDP) majority, UDJ has been striving to join mainstream politics after it named former CUDP first vice chair Birtukan Medeksa its Chair at a founding congress held on June 18, 2008.

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CBE opens branches in Sudan, Somaliland

By Tedla Yeneakal

The Commercial Bank of Ethiopia (CBE) is finalizing processes to open branches in Juba, Southern Sudan, and Hargessa, the capital of Somaliland.
An official at the CBE told Capital that due to the growing imports of these countries, increasing the trade activities in the region the management has decided to open branches in these countries.
"We want to benefit from the growing market along the border towns of Somaliland and also in Juba, where oil companies are competing for resources," the official said, "Currently a number Ethiopians in search of better jobs are migrating to Sudan, a country where relatively fast economic growth is registering."

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Legacy of friendship


The Ethiopia - United States relationship dates from the dusk of the 19th century when the first official diplomatic contacts were established. In large measure, this friendship has reflected global events including in Ethiopia and in the U.S of the past century.

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Ties to be leather bound Indian Leather Industry sees confidence in the Ethiopian leather marketp


India, one of the fastest growing economies of the world today, also represents 10% of global leather source and supply. The leather industry boost of the country especially of the Southern part holds a significant figure in India's import-export and the overall economy; being the fourth largest foreign exchange earner with annual value of USD 5 billion, and exports of USD 3 billion.

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Entreprenuer Profile is Capital’s youngest page and is already eliciting warm reviews. We have received dozens of e-mails, scores of letters and a clamor of phone calls of appreciation, suggestions and ideas which will all contribute for a better Entrepreneur Profile strengthened by your continued participation.

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The Aksum Obelisk and the People of Kenya
 

The return and re-erection of the looted Aksum Obelisk marks a milestone of great significance not only for Ethiopian history, but also as an inspiration for increased momentum across Africa for the restitution of looted heritage items. This week’s ‘Corner reflects on how the return of the Aksum Obelisk is galvanizing African nations, including Nigeria and Kenya…

  
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Understanding culture before addressing a business culture Managing cultural diversity

By Abiy Demilew

Part 2

In the first part of this article, we have seen the possibility of business cultures of certain people of geographical locations and communities; being [directly and/or indirectly] impacted by different internal, external, social, political and environmental factors, to remain in each owns colors.

 

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