Recently it has been common to see a long queue of vehicles around petrol stations in Addis Ababa searching for fuel, particularly gasoline, commonly known as ‘benzene’. People including taxi drivers and other private vehicle owners run here and there filling up their tanks if they get lucky. The lineups near the stations have exacerbated the high traffic jams that are already annoying people throughout the city. 

Saturday, 15 March 2014 09:00
Published in Economy & Finance
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The saying; ‘a burnt child dreads the fire’ applies to many people who have given their money to real estate developers in Ethiopia because they have been burned repetitively. 

More than a few legally registered real estate developers have sold out the land, they have leased from the government to build homes, illicitly, pillaging millions of birr in profits in a villainous process. Then, several other developers who have made promises and deals to deliver finished houses were not able to finish the job on time. They made their clients wait in vain and incur extra costs. Still today, there are some real estate companies that collected pre-payments over seven years ago and haven’t delivered the houses yet.  

Saturday, 15 February 2014 06:00
Published in Investment
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For Americans, the beginning of 2014 marked the launch of a new healthcare system popularly known as “Obamacare”. This health insurance coverage is expected to cut the number of uninsured in half, or about 25 million people, in the next 10 years. Under the much publicized scheme, the US government plans to reshape the healthcare system by allowing as many as seven million people to buy insurance and 8.7 million new beneficiaries to enroll in 2014 alone. 

Saturday, 15 February 2014 06:00
Published in Society
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Many Ethiopian migrants, who send money for their relatives and families from abroad, previously paid an average of 12 Pct of the remitted amount for the money transferring agents.  Sending remittances to Ethiopia, which is one of the top 10 remittance receiving countries in Sub-Saharan Africa, has been costly though the amount varies depending on the remitted amount, the service chosen and the destination. The cost of a money transfer for an average transaction in Ethiopia ranges from as low as around 1 Pct to a maximum of 20 Pct of the amount remitted. The most expensive are the services of global money transferring companies. 

Saturday, 15 February 2014 06:00
Published in Economy & Finance
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Neither be a lender nor a borrower, for money you lose both your friend [the borrower] and the money itself” has been one of the famous lines from William Shakespeare’s plays. That was many, many years ago. The game has changed now. Not only people, but countries, including the richest ones on earth, from the United States to Japan, from Australia to the UK, borrow a huge amount of money. They have even established institutions that specialize in lending money in massive amounts. Countries borrow money from these institutions and provide loans to one another. 

Wednesday, 15 January 2014 18:00
Published in Investment
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It has been a decade since Ethiopia applied and began preparations to become a member of the world’s trade governing body, the World Trade Organization (WTO). It submitted the application for the accession in January 2003. Since that time it has accomplished some of the basic requirements and negotiations to be able to ascend. It is expected to complete the negotiations and be a full member as speculated in the Growth and Transformation plan (GTP) by 2015.

Wednesday, 15 January 2014 12:00
Published in Economy & Finance
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Since the 16th century the place located in  western Ethiopia known as Bela Shangul, meaning “Rock of Shangul” named after a sacred stone found in the mountainous area of the present Benishangul Gumuz Region, is legendary for its vast area of fertile land suitable for agricultural production. The region was also the place where the Berta people originally settled when they arrived to Ethiopia.

Wednesday, 15 January 2014 06:00
Published in Investment
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Footballers in France will hope for a winning strike of a different kind this December when they protest over a controversial super tax levied by the socialist government. Back in 2012, the now French President, François Hollande campaigned for the election promising to tax top earners with 75Pct income tax. The 75Pct tax rate was initially to be paid by those earning over EUR one million a year. After protests by top French executives and prominent personalities such as Gérard Depardieu, a French actor, film-maker, businessman and vineyard owner, the government changed the law so that it would be payable by the companies offering such salaries. This show cases how far progressive tax rate can go.

Sunday, 15 December 2013 15:00
Published in Economy & Finance
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On January 6, 2011, on the eve of Ethiopian Christmas, the Ministry of Trade imposed price caps on selected basic commodities including meat. The decision was meant to curb the ever skyrocketing prices of basic food items. High government officials affirmed that the price caps were a retort to price gouging by merchants taking advantage on consumers and vowed to put a stop to this “market disorder.”

Sunday, 15 December 2013 06:00
Published in Society
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