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Child survives Yemeni plane crash

A five-year-old child has been found alive, hours after a Yemeni airliner crashed in the Indian Ocean with more than 150 people on board.

Some bodies have also been recovered from the wreckage of the plane.

The Yemenia Airbus 310 flight IY626 was flying from the Yemeni capital Sanaa, but many passengers on the plane began their journey in France.

More from BBC

Yemeni Airliner with 150 People Reportedly Crashes in Comoros

By VOA News

30 June 2009

News reports from the Comoros say a plane belonging to Yemeni state carrier Yemenia Air has crashed in the Indian Ocean archipelago with 150 people on board.

A government official in the capital, Moroni, told the Reuters news agency the crash happened early Tuesday. The official said the location of the crash is not known, and it is also unclear if there are any survivors.

The Comoros is made up of three islands about 300 kilometers northwest of Madagascar, in the Mozambique channel.

In 1996, a hijacked Ethiopian Airlines Boeing 767 also crashed into the sea off the Comoros islands, killing 125 of the 175 passengers and crew.

Ethiopia - Minister calls for sustained political leadership to tackle maternal death

ENA

Ethiopia Health Minister Dr. Tedros Adhanom stressed the need for sustained political leadership in the area of health with a view to minimizing maternal death.

The minister said sustained political commitment will be key to deliver and improve the survival of mothers during pregnancy and childbirth.

Dr. Tedros Adhanom made the statement here on Monday at the opening of regional conference on maternal mortality.

With regard, he said, Ethiopia is working hard to use all the resources at its disposal to build effective systems that can not only save lives now but enable the country to fight for the future.

Ethiopia is taking ambitious steps to build its health system and human resources to address the challenges in pregnancy related deaths, he said recalling a three-year Masters program in five universities of the nation.

According to the minister, the program aimed at enabling mid-level non-physician clinicians (NPC) to perform life-saving emergency obstetric surgery.

The regional conference being held under the theme “Human Resources for Maternal Survival: Task-Shifting to Non-Physician Clinicians” focuses on the development and deployment of NPCs as an important measure to avert maternal death in Africa.

The four day conference attracted some 350 participants including health ministers, program managers and clinicians from 30 African countries.

Only Three H1N1 Cases Confirmed In Ethiopia : Ministry

ENA -

Ethiopia's Ministry of Health said H1N1 cases have reached three in Ethiopia.

The ministry said some media outlets are dispatching wrong reports about the disease.

The potential of the virus to kill is very low and media should give clear information to the public about the situation.

In a press conference they gave here on Monday officials from the Ministry of Health and Ethiopian Health and Nutrition Research Institute (EHNRI) said an additional case was detected and the number of victims has reached three.

They said the treatment that has been given at St. Paul Hospital for the suspects of the virus and the patients is totally shifted to St. Peter Hospital where 100 beds have already been readied for treatment.

Public relation Directorate Director with the ministry Ahmed Emano said out of 17 suspects 10 of them confirmed free of the virus. And the rest are under treatment.

He said the ministry is closely following the family members and peoples who had contacts with the infected persons.

The officials said the virus has not been surfaced in any part of the country.

They said the quarantine service at Bole International Airport is being well furbished in a bid to ensure prompt detection of the virus at the spot. Health workers, examination room and medicines are standby at the port.

Emergency Diseases Protection and Control Senior Officer with EHNRI Dr. Million Wondabeku on his part said training is being offered to hostess to help them identify infected persons and take immediate actions.

Dr. Million said, though, there is ample medicine for treatment still importation of medicine is in the pipe line.

The officials said people should cover their mouth if they come across people coughing and sneezing.

If there has been a nasal and oral cavity fluid contact with infected persons, people should instantly wash with soap.

The officials urged the public to information immediately

Court starts hearing witnesses on suspects accused of plotting acts of terror

ENA - Ethiopia's Federal High Court has started hearing witnesses against suspects accused of plotting acts of terror under the so-called "Ginbot 7" an alleged terrorist organization.

The second criminal Bench of the Court have heard 12 witnesses on Monday on 2nd defendant Asaminew Tsige ,3rd defendant Lt. Colonel Demissew Anteneh and 10th defendant major Temesgen Bayleyegne ,24th defendant Meleku Tefera and 27th defendant Awoke Afework.

The court adjourned the case for June 30, 2009 to hear additional witnesses

US administration committed to work with Ethiopia

ENA

Deputy Secretary of State: United States’ new administration committed to work with Ethiopia

United States’ new administration is committed to work with Ethiopia in providing more productive and sustainable assistances designed to meet fundamental needs of the society, said Deputy Secretary of State for Management and Resources Jacob J. Lew.

Concluding his official visit to Ethiopia on Monday the deputy secretary told journalists in Addis Ababa that his country will continue to support Ethiopia in areas of agriculture and health.

“I am here to listen and underscore our commitment to work with the people and government of Ethiopia,” he said.

The deputy secretary said the new administration seeks long term and sustainable agricultural sector growth to boost farmers’ productivity, increase food availability and raise income with a view to eradicating famine.

In the global health arena, he said, we seek to build on the successes of our HIV/AIDS program to build durable and sustainable health system while concentrating on maternal and child health.

The deputy secretary mentioned that Ethiopia has made important strides in the areas of agriculture and health, pointing out that the new America’s administration looks forward to working together with the Ethiopian government to achieve the common goal of improving the lives of Ethiopians.

He also said that Ethiopia is working in a positive direction on poverty reduction while facing very difficult challenges.

The United States is committed to working closely with Ethiopia to find new ways and new mechanisms so as to gain more productive results, he added.

In his visit to Ethiopia the secretary met with senior government officials including Prime Minister Meles Zenawi.

He also paid a courtesy visit to the Ethiopian Commodity Exchange, an organized marketplace where buyers and sellers come together to trade and assured of quality, quantity and payment, and the Gandhi Memorial Hospital in Addis Ababa.

The deputy secretary told ENA that he had fruitful discussion with Prime Minister Meles Zenawi on development cooperation and other issues of mutual interest.

Ethiopia - Bombshell Sara Nuru graces the cover of Cosmo

Germany's 'Next Top Model' Sara Nuru, whose parents are from Ethiopia, graces the cover of Cosmopolitan magazine. She has recently won the title, Germany's Next Topmodel.

Finally, she has her first cover! "Top Model" winner Sara Nuru (19) smiles from the cover of pink women's magazine "Cosmopolitan". The job title as a Girl is part of their profits in Heidi Klum talent show "Germany's Next Topmodel".

Executive editor Petra Winter is from Sara's Model Talent enthusiastic: "The July-Cover with Sara is a real eye-catcher. Sara has a beautiful unique look, based on the title to particularly good effect. "

At the end of May the beautiful Munich native won the "Germany's Next Topmodel" Finals under the supervision of Model Mom Heidi Klum (35). Since then Sara is charmingly by the press and TV dates.

Now there is finally the reward! "We are sure that the July issue is an absolute condition of success, because the fans burn out, Sara on the cover to see and everything about the new top model to learn," Petra forebodes winter.

Source: bild.de
(translated from German to English using Google tools)

Ethiopia - Amsale Couture Gowns Continue to Make Hollywood Happy Endings

In the past couple of months, there is a good chance that you've seen a gown designed by Amsale Aberra of Ethiopia glide across the silver screen. Recently making appearances on Grey's Anatomy and Ghosts of Girlfriends Past, Amsale showcases her talent this month with the release of Warner Bros. new movie The Hangover. The movie, centered around a bachelor party in Las Vegas, provides an unlikely backdrop for the classic elegance of Amsale's white, strapless bridal gown worn by Sasha Barrese's character, Tracy Garner. Does the groom make it to the altar? You'll have to go see the movie to find out!

Over the years Amsale has become the couture designer of choice for Grey's Anatomy and it seems now that word is spreading like wildfire through Hollywood. Why does she think her gowns are such a natural fit for the stage and screen? "I think that my gowns naturally lend themselves to telling a story. They all have an element of fantasy to them, which is so important for Hollywood, but at the same time they are believable. They are modern classics that make sense for real brides to wear. We are also a popular choice because we have three collections that have very distinct looks so whatever story the character needs to tell we can usually find something perfect to fit the bill," says Amsale.

Amsale's elegant designs have made one of the most sought after couture wedding gown designers in the United States, and won her the reputation as the creator of the modern wedding dress. She is the creative director of the Amsale, Kenneth Pool and Christos bridal collections as well as the Amsale Bridesmaids collection and the most recent addition to the Amsale Design Group collection of labels, Amsale Presents The Little White Dress. Though most recognized for her exquisite bridal wear, Amsale has also gained a strong celebrity following for her evening wear, as seen on screen, editorially and on the red carpet on stars such as Jennifer Garner, Uma Thurman, Halle Berry, Kate Hudson, Salma Hayek, Julianna Margulies, Diane Lane and Vanessa Williams.

For more specific information about the gown seen in The Hangover, contact Leia Vincent at Leia.Vincent@thereelrossgroup.com.

About Amsale Aberra
Wikipedia

Born in Addis Ababa, Ethiopia, Ms. Aberra, professionally known as Amsale (pronounced Ahm-sah’-leh) journeyed to the United States to study commercial art. Political upheaval in her native Ethiopia forced Amsale to stay in the United States and to support herself through her undergraduate years. As financial resources were limited, Amsale began to design and sew her own clothing. For the first time Amsale considered the possibility of a career in fashion design. After receiving her degree in Political Science from the University of Massachusetts, Amsale left Boston and enrolled in New York’s Fashion Institute of Technology. Upon graduation, she began her career as a design assistant at Harve Benard.

Amsale first tried her hand at bridal design in 1985, when she was planning her nuptials to film executive Neil Brown. Unable to find a simple, refined wedding gown amidst the overly excessive bridal fashions of the 1980s, Amsale decided to design a gown for herself. With the discovery of this untapped niche in the bridal market, Aberra launched her own custom bridal gown business out of her New York City loft apartment with a small team of couture sewers. Over the past 20 years, the Amsale label has expanded to encompass a bridesmaids line, party dresses and couture eveningwear.

Give us political space to maneuver’, Ethiopian PM, Meles Zenawi tells international community
- Calls for end to attached aid

By Simegnish Yekoye
ADDIS ABABA, Ethiopia - Ethiopian Prime Minister Meles Zenawi is appealing to the international community to provide Africa with policy space so that the continent can weather the current economic challenges.

The Prime Minister said that the international community could and should provide adequate policy space, live up to its commitments in terms of development assistance, limit global warming and pay compensation for the unavoidable damage caused by it so that it could assist Africa.

“Sovereign African nations are not so sovereign when it comes to economic policy making”, Meles said indicating that most African states depend heavily on foreign aid and credit to sustain their economic activities and the aid is largely disbursed on the basis of how well countries adhere to the policy orthodoxy promoted by donors.

“While there may have been a neo-liberal consensus among major donors, there was never any such consensus in Africa. It was imposed on Africa,” Meles argued.

While making his speech on Africa’s policy response to the Global Financial Crisis and how the International Community should help Africa Meles said that it is necessary for the International Community to make a distinction between “development assistance that Africa is asking for and the compensation for global warming that it is demanding”.

Meles who represented Africa during the G20 meeting and is referred as the voice of Africa said reduced growth, low commodity prices and high oil prices were likely to affect Africa for about 10 years and the West needed to give African nations the ability to devise their own policies to lessen impacts.

Meles also note that rich countries should stop attaching economic polity conditions to foreign aid, which he said the hungry continent was dependent on.

“African countries are faced with very well-coordinated and solid policy orthodoxy from donors… They either adhere to it and get the money, or chart their own course and face the risk of the drying up of external assistance.”

“Growth in Africa collapses when prices go up too far and when they go down too far. In other words the fragility of Africa’s economy is at the root of the impact of the current crisis on our economies.”

If the international community does the things he suggested, Prime Minister Meles advised: “ I think many if not all of the African countries will have a fighting chance of surviving the dangerous economic storms that we are passing through and even thrive in them”.

Ethiopia, 5th Bradt Travel Guide Ethiopia - Book Review

While the world taps its feet, Ethiopia breakdances with its shoulders. This is an uplifting, inspirational country which confounds expectations. It’s no featureless desert but a land of majestic landscapes surrounding a vast, fertile plateau. The rock-hewn churches in its medieval capital, Lalibela, are regarded by many as the eighth wonder of the world. Its people are welcoming, proud and besotted by their own culture and history. Bradt’s Ethiopia is the most thorough guide available to this country rich in culture, history and dramatic scenery, and has been highly praised by both travel press and readers.

‘Thorough and reassuring, it provides all the practical and background information to make readers leap from their armchairs and visit this vast, magical country’ The Daily Telegraph (UK)

Review

“The Bradt Guide has almost everything you need to read about the country’s history, tourist attractions and hotels, and proves itself to be an invaluable companion while in the country." SX News

"Thorough and reassuring, it provides all the practical and background information to make readers leap from their armchairs and visit this vast, magical country." The Daily Telegraph (UK)

"Essential reading for anyone with the remotest interest in Ethiopia ... a complete reference book to Ethiopia as well as an excellent travel guide." Travel Africa

"Highly personal and informative guidebook ... his enthusiasm is reflected in every chapter." Business in Africa

"An indispensable handbook for anyone wishing to visit Ethiopia." The Guardian(UK)

Ethiopia - Feds swoop on illegal dollar traders


By Yohannes Anberbir

Addis Ababa, Ethiopia - The foreign currency shortage in Ethiopia has been widening the gap between the official exchange rate and the black market. However, action last week by the Federal Police halted the rocketing illegal rate.

The Federal Police swoop last week resulted in the arrest of six individuals allegedly involved in unofficial foreign exchange trading.
The official exchange rate of dollar against birr has been ranging between 11.10 birr and 11.30 birr, however the black market had risen to 13.70 birr for a dollar.
Indeed, the recent devaluation of birr has brought a positive impact on the country's foreign reserve position; the reserve has increased by 12.1 per cent within the last nine months, according to the central bank report presented to parliament two weeks ago.
However, the demand and the reserve have been out of step, giving space to the black market which also has an impact on the country's reserve position by diverting the legal inflow of foreign currencies to the black market, a macro economic researcher explained to Capital.
Police acted last week to reduce the impact of the black market on the country's reserve position and with the aim of prohibiting illegal inflows of foreign currencies. The measure brought an immediate impact on the black market exchange rate, which shifted to a range of 13.40 to 13.30 birr; a decline of 0.30 birr within two days. This week it dropped further to 13.20 birr.

Ethiopia Health facilities readied for service in Limuseka

Jimma Ethiopia - Various health facilities constructed in Limuseka Woreda, Jimma Zone of Oromia State at a cost of over 11 million birr are readied for service, the woreda finance and economic development office said.

Office head Fikadu Baleme told ENA that the facilities includes the construction of two health stations and 14 health posts.

Some seven million birr for the construction of the facilities was secured from the government and the balance from NGOs and the public, he said.

Currently, some 35 health posts and five health stations are providing services in the woreda. The newly constructed facilities are believed to increase the health coverage of the woreda.

Ethiopia - Parking operators to build parking service rendering facilities

ENA

Addis Ababa, Ethiopia - The Addis Ababa City Parking Operators’ Association announced plans to construct parking service providing facilities at a cost of 100 million Birr in a bid to provide up-to-date parking service to city dwellers.

Briefing journalists here on Monday, Association Chairman Debrework Teklu said the new facilities will be constructed in ‘Merkato’ and ‘Kassanchis’ areas of the metropolis where severe traffic congestion occurs. The new facilities will have the capacity to provide service to close to 800 customers per hour.

Moreover, the association has designed projects aimed at installing parking machines, which can accommodate lots of vehicles at a time, in the outskirts of Addis Ababa, he said, the projects, which are expected to create jobs to 2,000 city dwellers every year, are already submitted to the government for approval.

The association has been striving to work together with international parking operators’ association and other countries with rich experience in the sector with a view to providing lasting solutions to city’s problems related to traffic congestions, he said.

According to the chairman, the association envisages creating jobs to some 10,000 city dwellers within the coming five years.

Ethiopia - Development projects create jobs to over 300,000 youth

ENA

Arbamich, Ethiopia - Various development projects being executed in Arbaminch Town have created jobs to over 300,000 youth, town administration said.

Administration mayor Tasew Ticho told ENA recently that the youth engage in construction of road and condominium houses.

The youth particularly engage in supplying of inputs for the construction of condominium houses have become self-help and saved more than half a million birr.

More than 2000 youth have engaged in the construction of a 2-km road.

The town plans to construct 20 km asphalt and gravel road. And this will create jobs to additional 4,000 youth, the mayor said.

Ethiopia ORDA earmarks 1.2 billion birr for five year plans

ENA

Bahir Dar, Ethiopia - The Organization for Rehabilitation and Development of Amhara State (ORDA) approved a 1.2 billion birr budget for execution of development projects in the next five years.

It was was stated at the conclusion of a two-day meeting held in Bahir Dar City that the five- year development plan would contribute a lot to ensure food security in a sustainable manner.

The plan focus on the development of agriculture, forest and water resource development, disaster prevention, and social service delivery sectors, among others.

Familiarizing farmers with improved technologies, replenishing of 170 hectares of depleted land, and construction of clean water projects are some of projects that would be executed that the years to come.

The organization has also plans to fight HIV/ AIDS and to ensure gender equality.

The meeting was concluded after electing eight members of the board of directors

Ethiopia State licenses 13.3 billion birr investment projects

ENA

Bahir Dar, Ethiopia - The Amhara State has licensed 1570 investment projects with an aggregate capital of 13.3 billion Birr during the past 11 months.

The projects are in agriculture, industry, construction, social service, hotel and tourism sectors, among others, investors’ attraction and support work process owner, Ayenalem Belete said.

When the projects go fully operational, they will create 330,000 jobs.

The head said the implementation of BPR and transformation of some farmers and people engage in micro and small scale business to investors contributed a lot to the increase in investment flow.

The number of female investors has also increased. Over 140 of the total projects are owned by females, Ayenalem said.

Since 1985 E.C the state has licensed investment license to 4780 projects with an aggregate capital of 56.6 billion birr.

Ethiopia Liberalised banks need to expand horizons

By Addis Mulugeta

Banks have come a very long way since the Transitional Federal Government of Ethiopia liberalised the sector in 1994.

However, the contribution of both the public and private banks to national economic development has been insignificant, research papers indicated at an event organised by the Addis Ababa Chamber of Commerce and Sectoral Association (AACCSA) on June 25 at the Hilton Hotel.
Eshetu Fantay, Corporate Service Vice President of Awash Bank, indicated in his paper that the contribution of both private and public banks share distribution would not improve, even if it include the Commercial and Business Bank (CBB) and Development Bank of Ethiopia (DBE) in the calculations.
He argued that the banking sector in Ethiopia has loans significantly concentrated in the trade sector (52 percent), adding they are not ready to give finance to the agricultural sector. He said that they are using an old system of collateral and the regulations are ambiguous.
He further indicated that agriculture's share of the banking sector's business is minuscule. Geographically, financing is concentrated in Addis Ababa (70 percent), with only a few sectors outside Addis getting the remaining shares. Some regions, while they have significant natural resource potential, including Gambella and Benshangul Gumuz, are out of bank or formal financing radar. In this case, the micro finance institutions are playing a major role in these areas.


Read More from Capital

Ethiopia Business community vows to fight HIV/AIDS

By Addis Mulugeta

Approximately 1.3 million people are living with HIV in Ethiopia and the national average of HIV prevalence and vulnerability factors are estimated at 3.5 per cent nationally, 10.5 per cent in urban areas and 1.9 per cent in rural areas.
It is said that HIV prevalence and vulnerability factors in the business community are higher than the national average.
To fight this critical situation, firms are starting to give priority to combating HIV within their companies.
The Ethiopian Business Coalition Against HIV/AIDS (EBCA) is working to protect the business community, their workforce and the communities where business operates from the threat of HIV/AIDS and other identified social development challenges.
Consequently, in the third annual EBCA exhibition held at the Ras Hotel on June 26, more than 22 business enterprises and companies exhibited and showed their success in their fight against HIV. The theme is, "The involvement and commitment of business in the fight against HIV/AIDS was a win-win game".
Over 50 Ethiopian businesses were present and 25 of them exhibited their best practices in fighting the disease. In addition, 10 selected partners exhibited.
During the event, business enterprises were split into two categories of Best Practice and Rising Star. In Best Practice, Kality Construction, BGI Ethiopia and Emergence services, were first, second and third, respectively. In the rising star, Harar Beer was first, Ethiopian Power Corporation (EPPCo) second, and Ghion Hotel third.
The event was sponsored by coffee plantation, BGI Ethiopia and World Bank institute.

Ethiopia - DKT holds conference for young marketers

By Elias Meseret

DKT Ethiopia, the largest condom distributor in the country, held a national sales conference for Anti-Aids Clubs members of Young Marketers (YM) from June 25 to 26 at the Sodore Resort Center.
The conference brought together two salespersons each from 87 YM clubs across Ethiopia. It included practical trainings on salesmanship and product handling, technical updates on the company’s products, a sales contest, and recognition and entertainment programs.
Andrew Piller, Director of DKT Ethiopia, said YM is the company’s distribution model using youth and anti-AIDS clubs to distribute condoms and other health products on a commission basis. “DKT is using these YMs as a new mechanism for cost-effective sales to kiosks and other non traditional outlets,” he said adding that currently around a quarter of the company’s condoms are distributed through them.
DKT and the German Foundation for World Population (DSW) started YM in May 2007 to formalise the ongoing sale of donated condoms by youth clubs.


Read More from Capital

Ethiopia - Eco-bus saving Grace for school


By Addis Mulugeta


Addis Ababa, Ethiopia - Global warming and climate change will have an impact on the quality of life and economic development of any given country.

The fact that global warming is already happening suggests individuals should also do something to avoid the process reaching a tipping point.
The impact of cars and manufacturing industries on the environment is very critical and has contributed to atmospheric problems such as the depletion of the ozone layer.
It is possible to calculate the average distance a cars travels per year and how many tonnes of CO2 it emits into the atmosphere. Because of this, it is important to keep in mind the impact your car may have on the environment and how to reduce it.
Dealing with the issue locally, Grace School in Gotera, Addis Ababa, has started using an environmentally-friendly solar power school bus. They started the green project a year ago by installing the solar panels on the roof of the bus to design the first eco-friendly bus in the country. There is a very bright future for solar energy power for transportation needs and this effort is just scratching the surface of the possibilities.
When asked about the practicalities, Jeysamchey Sanmugam, Assistant Manager of Grace School told Capital that solar energy is a renewable resource and a good one for Ethiopia as it is in the tropics, making the sun frequent and strong.


Read More from Capital

Ethiopia - Coke problems should fizzle out after talks

By Elias Meseret

Addis Ababa, Ethiopia - Ahmet C. Bozer, President of the Eurasia and Africa Group of the Coca-Cola Company, discussed various issues with Ethiopian government officials ranging from the shortage of foreign exchange that caused it to halt its operation in March to other tax-related matters.
The president, who has met the ministers of Trade and Industry (MoTI) and finance and economic development (MoFED), said the company is doing all the necessary preparations to tackle the causes of Coca-Cola’s problems.
“Though Ethiopia is one of the least coke consuming nations in the world, with less than eight bottles for a person per annum, it is located in the top five coke consuming regions in the world,” he noted. “But, we need to see the market to determine whether we should open up further outlets. That’s not a problem for us.”
The country ran out of Coca-Cola in March this year after its local bottler said it no longer had enough foreign currency to buy bottle tops. The East African Bottling Share Company, which has exclusive rights to bottle the drink in Ethiopia, has also previously said it was forced to temporarily close its two plants in the country and send its 1,000 workers on compulsory leave.
The president now says he has discussed with Government officials on how to deal with the forex shortages, though he gave no detail on what the final agreement was. He also stressed that he has told the ministers there is no need to impose further excise taxes, as coke is a beverage consumed by each and every individuals.
Bozer, a Turkish national, is leading the company’s business activities in over 90 countries. Headquartered in Istanbul, the group consists of eight business units, including Turkey, Middle East,Russia-Ukraine-Belarus,South-Eastern Eurasia, India and South West Asia, North and West Africa, East and Central Africa, and South Africa.
Bozer joined the company in 1990 as a Financial Control Manager for Coca-Cola USA and held a number of other roles in the finance department of the organisation. In 2000, Bozer was named President of the Eurasia Division of the Company.
At the end of 2002, that division was reorganised to include the Middle East Division and was renamed the Eurasia and Middle East Division. During the period between 2000 until 2006, the Eurasia and Middle East Division was expanded to include 34 countries and, in 2006, Mr. Bozer assumed the additional leadership responsibilities for the Russia, Ukraine and Belarus Division.
Mr. Bozer was appointed president of the company’s former Eurasia Group effective from January 1, 2007, and became President of the Eurasia and Africa Group when it was formed on July 1, 2008, by combining the former Eurasia Group, other than the Adriatic and Balkans business unit, with the former Africa Group.

Ethiopia Buna Bank licensed

BIB has 11,200 shareholders and the bank's subscribed capital has reached 300 million birr

By Groum Abate

Buna International Bank (BIB), the largest private bank in terms of number of shareholders, acquired its operating license from National Bank of Ethiopia (NBE) on Friday June 26.
Negede Abebe, President of the new bank told Capital that it will be opening 10 branches this year.
Negede has been in the banking sector for over two decades, serving at the National Bank of Ethiopia and Wegagen Bank.
The president of BIB said that the process at the Public Notary Office that started in mid February came to an end this week.
He added that his office would commence its business officially in the coming couple of weeks from its headquarters around Arat Kilo.
Marshal Fikremarkos will also chair the board of directors of the bank, which has been in some difficulty after the central bank rejected some of its selected board members.
At BIB's general assembly held in October 16, 2008, twelve directors were elected to govern the bank, some of whom the central bank rejected. BIB then selected other members to fill the gap, which the central bank approved.
BIB has 11,200 shareholders. The bank's subscribed capital has reached 300 million birr and it has 160 million birr in paid up capital.

Ethiopia Court losses tax VAT evaders

By Yohannes Anberbir

Addis Ababa, Ethiopia - The law enforcement operation of the Revenue and Customs Authority has been handed several court victories.
A special bench at the Federal First Instance Court located in Arada District set up to hear the authority's cases recently sentenced nine individuals to over one year imprisonment on charges of VAT evasion.
The authority carried out its law enforcement operation two months ago, targeting jewellery shops and spare part importers who are registered as value added tax (VAT) payers and apprehended over 60 individuals selling goods without VAT receipts.
Out of these, the authority brought 29 cases before the court and succeeded in prosecuting over eight individuals who are owners and employees of two jewellery shops and an importing company.
Rana Kalid, an employee in Dembel City Centre branch of Africa Jewellery shop, who was arrested for selling ornaments exclusive of VAT to undercover authority officials, has been found guilty by the court and was given a one year term prison sentence and fined 10,000 birr.


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Ethiopia Economists assess effect of global crisis

By Addis Mulugeta

Economists recently gathered at a conference to discuss the health of Ethiopia's economy and the effects of the global financial crisis on it.
The largely agricultural base of the Ethiopian economy makes it vulnerable to exogenous shocks, such as adverse climate change, said Neway Gebre-Ab, Chief Economic Advisor to the Prime Minister on June 25 at the 7th international conferences on the Ethiopian economy - a three day event organised by the Ethiopian Economic Associations (EEA).
He also said that the downwards revision of GDP growth from 11.2 per cent to 10 per cent is because of the current power cuts.
During the conference more than 15 research papers were presented. One of the research papers by Dr. Berhanu Adinaw indicated that each and every sector will be affected by the current power shortages.
The EEA did not give an assessment of how the current economic crisis will affect Ethiopia in the long term. However, according to Wolday Amaha, President of EEA, right now the crisis is having both a direct and indirect impact on the national economy.
Neway said that the role of civil society and think tanks in the development process of the country is recognised and appreciated by the Government, whose strategy cannot be realised without the active participation of civil society organisations.
Wolday also said that during the outbreak of the financial crisis, the EEA did not have specialists who could calculate the effect of the crisis on the national economy. But now, it is clear that the country has been affected by the crisis.


Read More from Capital

More swine flu patients quarantined in Ethiopia


By Groum Abate

Addis Ababa, Ethiopia - More people have been quarantined due to being suspected of contracting swine flu, following the six Ethiopians who were quarantined and treated for the disease at St. Paul's Hospital last week.

According to doctors at the hospital, the nurse who examines suspects at Bole International Airport has been quarantined for a short period of time and released this week after getting the proper treatment.
Another flight stewardess from Ethiopian Airlines, joined those quarantined at the hospital on Friday June 26, after she was suspected of having the flu.
Last week, two boys that were abroad for exchange studies were treated for the flu after they are found to be positive. The patients were checked at Bole International Airport arriving from abroad.
The boys, along with the other three patients, were quarantined at the centre last week and released at the beginning of this week.


Read More from Capital

Ethiopia Foreign affairs ministry induces investors


By Kirubel Tadesse

The Ethiopian Ministry of Foreign Affairs (MoFA) says through exhaustive lobbying and various promotions it has convinced a lot of international investors to come and invest their fortunes here.
Some of the investors pulled in during the last ten months are already engaged in various projects after complying with the relevant regulations.
Setting economic diplomacy as a high priority, the ministry conducted more than thirty missions, and collaborated with various local and international agencies to stage over forty exhibitions, seminars and promotional conferences showcasing Ethiopia's investment potential.
Compiling manuals from eight regional administrations to disseminate to targeted investors, more than nine hundred investment profiles were distributed.


Read More from Capital

Ethiopia - Feds swoop on illegal dollar traders


By Yohannes Anberbir

The foreign currency shortage has been widening the gap between the official exchange rate and the black market. However, action last week by the Federal Police halted the rocketing illegal rate.

The Federal Police swoop last week resulted in the arrest of six individuals allegedly involved in unofficial foreign exchange trading.
The official exchange rate of dollar against birr has been ranging between 11.10 birr and 11.30 birr, however the black market had risen to 13.70 birr for a dollar.
Indeed, the recent devaluation of birr has brought a positive impact on the country's foreign reserve position; the reserve has increased by 12.1 per cent within the last nine months, according to the central bank report presented to parliament two weeks ago.
However, the demand and the reserve have been out of step, giving space to the black market which also has an impact on the country's reserve position by diverting the legal inflow of foreign currencies to the black market, a macro economic researcher explained to Capital.
Police acted last week to reduce the impact of the black market on the country's reserve position and with the aim of prohibiting illegal inflows of foreign currencies. The measure brought an immediate impact on the black market exchange rate, which shifted to a range of 13.40 to 13.30 birr; a decline of 0.30 birr within two days. This week it dropped further to 13.20 birr.

Ethiopia - Deal signed for new Addis - Nazareth road

By Groum Abate

The Ethiopian Roads Authority (ERA) and the Chinese Road and Bridge Corporation (CRBC), the Chinese giant in the transport sector in Ethiopia, have signed eight billion birr soft loan contract for the construction of an Addis Ababa - Nazareth road running parallel to the existing one.
CRBC in May approached ERA with its proposal that would cost the road authority about six billion birr to complete the construction of what would be a 80kilometers expressway.
After CRBC negotiated with officials at the authority on the terms of the loan, the two parties signed the agreement on Saturday, June 27.
Some months ago, the Minister of Works and Urban Development, Dr. Kassu Ilala, announced that the builder of the Addis-Nazareth expressway would be awarded without a bid to a Chinese company. The minister made the remarks in a joint discussion with a high level delegation from China led by the Chinese minister of construction Wang Guangtao after the Chinese pledge to finance the project with a soft loan.
Kassu said the contract for the construction of the six-lane road - the first of its kind in Ethiopia, and the first toll road to be built - would automatically be granted to China without having to compete for the contract.
"This project is a special offer to Chinese companies of choice to come with the necessary credit facilities and get the project without any international competition," Minister Kassu said.

Indian agreement sweetens factory deal

EXIM bank to open office in Addis


By Yohannes Anberbir

The Export and Import Bank of India (EXIM) has finally disbursed the first phase funding for the construction of Tendaho sugar factory following the reaching of an agreement between two quarreling Indian companies.
Officials at the Ethiopian Sugar Development Agency and Tendaho Sugar Factory sent a letter to the bank a few weeks ago, insisting disbursement of the first phase of funding, citing a resolution to the disagreement, Shiferaw Jarso, the PM’s advisor on basin affairs and board chairman of the project told Capital.
The bank disbursed the first phase last week and the companies are now operating at their full capacity, he said.
The Indian Government has accepted Ethiopia’s project proposal and offered a 640 million dollar soft loan for two expansion projects at Fincha and Wonji sugar factories and to construct the giant new factory at Tendaho in Afar Regional State. This was the largest single line of credit India has extended to a foreign country.
EXIM bank was then appointed to execute the loan disbursement for Ethiopia in October 2007.
The first installment amounting to 122 million dollars was disbursed in 2008 and the second installment amounting 166.33 million was disbursed two months ago. However, the bank halted Tendaho’s shares from the two phases due to the dispute between the South Asian contractors.


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Ethiopia Flower firms flailed for forex failings


By Elias Meseret

More than 38 flower exporters were put on a ‘delinquent list’ for a week by the National Bank of Ethiopia (NBE) after failing to submit foreign exchange earned from their exports.
Sources told Capital that the companies managed to resolve the issue with the NBE officials Friday morning, though a detail of the resolution was not available as Capital went to print.
All the listed flower exporters were prohibited from exporting flower for a week.
According to the law, exporters are obliged to submit their foreign exchange export earnings to banks in Ethiopia within one month. If this does not happen, NBE will send an instruction for all banks and customs officers not to allow the exporters to proceed with further exporting.
Tsegaye Abebe, President of the Ethiopian Horticulture Producers and Exporters Association (EHPEA), says the problem is not uncommon and is mainly caused by misunderstandings on both sides.
“What we normally do when things like this happens is set up a reconciliation process to settle all the disputes in a prompt manner,” he noted. “However, it is common for discrepancies to happen between the amount of exports and receipts gained due to the daily changes in the price of flowers.”


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Ethiopia - Meles - ‘I am comfortable’

By Kirubel Tadesse

While in a reflective mood last week, Ethiopia's leader for the last 18 years, Meles Zenawi, admitted that he was not sure if all of the expatriates sent to Eritrea following Asmara's aggression posed an immediate danger to Ethiopian security.
However, despite this candid admission, Meles declared last week he is more content than he has been for some time with his leadership: "I am perhaps more comfortable with my political life than I have been over a very, very long period," he said on Wednesday.
Further admissions may be forthcoming, but the PM indicated that they will be made "at a more appropriate time" - presumably after he leaves office.
"If and when the time comes for me to leave my current position, it will be with great satisfaction that this has been the most rewarding experience," elaborated the Prime Minister, who reiterated his wish to step down after next year's general elections.
The premier added that the foiled assassination plot that involved one of Africa's most disciplined armies does not pose any threat to the likely handover of power.
POWER PROBLEMS
Ethiopia's proud record on export growth of (at least doubling the rate of GDP growth over the last five years) is set to come to an end this year, as export demand from the recession-hit global economy decreases.
The target of pocketing 2.56 billion dollars from annual exports is unattainable. The best the Ministry of Trade and Industry (MoTI) is hoping for is to match last year's revenue of 1.5 billion dollars, something the Prime Minister confirmed.
"Its impact on the economy has been already manifested in the exacerbation of balance of payment problems that we are faced with throughout the year.


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Somalis exodus to Ethiopia


By Yohannes Anberbir

The current crisis in Somalia has led to a mass exodus, putting pressure on Ethiopia to cope with the influx.
According to a United Nations Development Assistance Framework (UNDAF) report, 100 Somalis per day have been arriving at border towns of Ethiopia, prompting the Government and donors to establish a new refugee camp.
The unstable situation in Somalia has also led an increased refugee inflow to the already existing camps close to Jijiga in Somali Regional State of Ethiopia, the report said.
The harsh situation in Somalia has meant about 100 refugees per day have been screened by the Ethiopian immigration authorities before being registered by the United Nation High Commissioner for Refugees (UNHCR) Camp located in Dollo Ado of Somali region.


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