National Bank of Ethiopia adjusts the salaries of its employees by an average of 140Pct, Addis Maleda, sister publication of EBR, reported. The Bank, in a letter circulated last week, announced that it has made a salary adjustment ranging from 50Pct to 230Pct to all of its employees.
The Coca-Cola Company announced the official launch of Schweppes Novida Pineapple, a new non-alcoholic malt based beverage, for the first time in Ethiopia.
Coca-Cola organized a launching event yesterday at the lavish Marriott Hotel in Addis Ababa through a fashion show event, featuring top Ethiopian designers to commemorate the occasion.
Four suspected cases of Coronavirus in Ethiopia tested negative, Ministry of Health announced. This comes two days after the Ministry disclosed that three Ethiopians and one Chinese have been quarantined on suspicion of contracting Coronavirus from other countries.
Ethiopian Airlines announced that it is not going to stop flying to China where an outbreak of the deadly coronavirus has killed 491 people and over 23,000 cases are diagnosed.
Prime Minister Abiy Ahmed (PhD) inaugurated USD451 million worth Genale Dawa III hydro-power project, which has increased the country’s generation capacity to 4,514MW. Constructed by China Gezhouba Group Corporation, Chinese Exim Bank covered 85Pct of the project cost, while the remaining was financed by the federal government.
The World Health Organisation (WHO) yesterday listed Ethiopia among 13 African countries identified as high-risk for the spread of the deadly coronavirus.
Prime Minister Abiy Ahmed (PhD), in call with President Donald Trump, expressed optimism that an agreement on the Grand Ethiopian Renaissance Dam was near and would benefit all parties involved, Reuters reported today citing a White House spokesman.
Ethiopia’s commercial debt stock has reached almost seven billion dollars as of the end of last year, National Bank of Ethiopia (NBE) reveals.
It accounts for one-fourth of the country’s total debt stock and showed a 2.7Pct annual increase, according to the report published by NBE.
International Monetary Fund (IMF) forecasts foreign currency reserve of Ethiopia will reach four billion dollars by the end of the existing fiscal year (2019/20), which means six months later. By the end of the past financial year, the country’s forex reserve was just USD2.8 billion.
Standard Bank unlocks USD50 million funding for Coca-Cola Beverages Africa (CCBA) in order to finance its expansion strategy in Ethiopia over the next five years.
Ethiopian Business Review
Samson Berhane