Price of US dollar has reached 150 birr in the Ethiopian black market. Since May last year, the Ethiopian government has been trying to kill the foreign exchange black market. Today’s official birr-dollar exchange rate announced by the Commercial Bank of Ethiopia is 124.0086 birr per dollar. Last year, when the Ethiopian government introduced macro…
Senior Ethiopian Politician Lidetu Ayalew has decided to return to Ethiopia. Since 2021, he has been staying in the US. Born in 1969 in Lalibela Amhara region, he has been active in Ethiopian politics for three decades. He founded and led Ethiopian Democratic Party (EDP). In a letter released on weekend, the seasoned Ethiopian politician…
Ethio Telecom, Ethiopian state owned telecommunication company, has extended the deadline for sale of its 10% shares. It failed to meet the target of selling the shares till January 3. In October last year, Ethio Telecom offered 100 million shares to Ethiopian investors. One share was priced at 300 birr. One investor must buy a…
Ethiopian Police today opened fire at protesters in Moyale Oromia. At least two protesters were wounded. Demonstrations have been ongoing since yesterday. Moyale is administrative center of two woredas of Oromia and Somali regional states of Ethiopia. It is situated on Ethiopia-Kenya border. On Friday, a 12 year old boy named Boru AlNuur was shot…
President of Somalia Hassan Sheikh is visiting Ethiopia today. Since January last year, Ethiopia and Somalia have been involved in a diplomatic row. The president’s visit is likely to lead to improvement in bilateral relations. Somalia expelled Ethiopian ambassador to Mogadishu and withdrew its ambassador to Addis Ababa at the start of last year. In…
Ethiopia today finally launched Securities Exchange but with 1 listing only. Prime Minister Abiy Ahmed officially launched the Ethiopian Securities Exchange (ESX) today. “We have officially rung the bell to launch the Ethiopian Securities Exchange – the first stock exchange for our country. Invest in Ethiopia — a fast-growing economy with immense potential and a…
Fiery objects seen in parts of Southern and South Western Ethiopia lead to speculations. The objects were seen on Thursday night. The Ethiopian Space Science Society in a statement said that it was conducting investigation. It added that the objects looked like space debris or meteor rocks. It asked people to wait calmly until the…
Ethiopian Stock Exchange ESX is going to formally begin operations on Friday January 10. The bourse was initially due to be launched in November last year but technical issues delayed the launch. The newest stock exchange in Africa is hoping to list around 50 companies. Business entities from Kenya, South Africa and Nigeria have shown…
Ethiopian Parliament today passed a draft law to punish those who hoard and sell fuel at unauthorized locations. The House of People’s Representatives (HoPR) approved the regulation to ensure uninterrupted supply of petroleum products. Earlier this week, Ethiopian security forces recovered dozens of fuel tankers hidden in the Afar region of Ethiopia. The oil tankers…
Azerbaijan has issued a diplomatic note to Eritrea about detention of its 3 ships by Eritrean navy. Eritrea has no embassy in Azerbaijan. The notes were issued to the Eritrean embassies in Ethiopia and the Russian Federation. On November 7, 2024, the vessels CMS Pahlavan, CMS Igid, and CMS-3, operated by the Azerbaijani branch of Caspian Marine Services B.V….