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Bureau adjusts transport fares
Spread the NewsAddis Abeba Transport Bureau (AATB) has announced an increase in transport fares a week after 38% hike on fuel price. The fare increases vary between 50 cent and 6.50 Birr depending on the length of the route. Commuters on short taxi routes (up to ten kilometers) will now be asked to pay 13…
Hotel owners continue to reel from Covid-19 pandemic
Spread the NewsHotel owners have been bracing for difficult years as the sector continues to reel from a drop in bookings caused by the Covid-19 pandemic, according to Addis Abeba Hotel Owners Association. Hotels in Addis Abeba and regions are losing $35 million and $10 million respectively in a month due to the negative effects…
Captain Yohannes HaileMariam on resuming flights with B737 MAX 8
Spread the NewsEthiopian Airlines has come a long way in its 75 years, starting from a humble beginning but quickly becoming a leading African aviation group. Of course, Ethiopian continues to age beautifully. Throughout the past seven decades, the airline has established itself as adept in all facets of aviation services: technology leadership, network expansion…
Bank of Abyssinia posts sharp rise in pre-tax profits
Spread the NewsBank of Abyssinia (BoA) has posted a sharp rise in gross profit to 2.05 billion Birr in the concluded fiscal year in June 2021, which registered an increment of 90 percent compared to the previous year performance. BoA conducted its 25th annual regular shareholders general meeting on Thursday at Inter Luxury Hotel. “Our…
Ethiopia loses $78 bln due to trade misinvoicing in five years
Spread the NewsEthiopia is losing $50 to 78 billion in five years through trade mis-invoicing practices, one of tools to execute illicit financial flows. Export under-invoice and import over-invoicing are the common activities in the illicit financial flows. Amin Abdela, a Macroeconomist referred Adugna Lemi (Prof.) survey to proof his argument and said, “Ethiopia is…
Over two dozen Ethiopian business delegates to participate on EIMA exhibition
Spread the NewsTwenty-five Ethiopian business delegates, who are working on agri-technologies and related businesses, will participate in the upcoming International Agricultural and Gardening Machinery Exhibition (EIMA), the Italian Trade Agency (ITA) disclosed on Monday. The international exhibition, which is slated for November 9 to 13, will be held in Bologna, Italy, organized by FederUnacoma —…