Thousands to be deprived of livelihoods if Ethiopia disqualified from AGOA

Thousands to be deprived of livelihoods if Ethiopia disqualified from AGOA

More than 85 thousand factory workers are poised to be at risk of losing their jobs if the United States disqualified Ethiopia from the African Growth and Opportunity Act (AGOA), a trade opportunity for Sub-Saharan countries, according to Sandokan Debebe, CEO of the Industrial Parks Development Corporation (IPDC). “Though there’s no official statement disclosed on…

Tena oil expands Dukem’s plant, creates more than 500 new jobs

Tena oil expands Dukem’s plant, creates more than 500 new jobs

54 Capital, a conglomerate producing the most popular edible oil “Tena Oil” has announced a major expansion in its production plant at Dukem Town. The fresh facility increases the company’s production by 130 percent and creates more than 500 new jobs, a statement Origins Business availed from the company. The total expansion of the facility…

Owner of former Holland car launches Adugenet online auction website

Owner of former Holland car launches Adugenet online auction website

Tadesse Tessema, Engineer by trade and founder and owner of the former Holland Car Assembly Plant has launched Adugenet auctions, a fresh auction website to bid for properties on Thursday. A fresh website can be found at www.adugenetauctions.com and administered by Adugenet Technology Group PLC, is intended to change the auction process by making bidding…

ECA predicts commodity markets to remain volatile in Africa

ECA predicts commodity markets to remain volatile in Africa

Commodity markets in Africa are expected to remain volatile in months ahead following the persistence of Covid-19 constrains in the supply chain and other global economic pressures, said Stephen Karingi, Director of Regional Integration and Trade Division at the Economic Commission for Africa (ECA). Karingi was speaking at the ECA Price Watch session with African…

House approves ministerial cabinet posts

House approves ministerial cabinet posts

The House of Peoples’ Representatives has approved the nomination of 22 ministerial cabinets who have appointed by Prime Minister Abiy Ahmed (PhD) on Wednesday. List of 22 ministries presented in the draft proclamation deciding the powers and functions of the executive branch of the federal government including the newly appointed ministers are: Demeke Mekonnen —…

Inflation keeps soaring

Inflation keeps soaring

The latest report from the Central Statistical Authority (CSA) disclosed that the overall inflation rate in September 2021 has reached 34.8 percent. Last month’s rate registered a 4 percent surge from the August 2021 inflation rate, which was stood at 30.4 percent. Food inflation, the major contributing factor for the ballooning inflation also reached 42…