Business

Ethiopian Airlines orders Africa’s first A350-1000

Addis Ababa, Ethiopia 28 July 2022 – Ethiopian Airlines Group, the flag carrier of Ethiopia, Africa’s largest airline group, has upsized four of its A350-900 on order to the largest variant of the A350 Family, the A350-1000, becoming Africa’s first customer for the aircraft. Ethiopian Airlines has already ordered 22 A350-900s, of which 16 aircraft have been delivered. With the

July 28, 2022 • By Addis Insight

Business

The total assets of the Commercial Bank of Ethiopia reached 1.2 trillion birr

Abe Sano, the bank’s president, announced that the total assets of the Commercial Bank of Ethiopia have reached 1.2 trillion birr. It is understood from the report submitted by the president of the bank that the Commercial Bank of Ethiopia, which is conducting the evaluation of the performance of the work plan for the 2014

July 28, 2022 • By Addis Insight

Business

Ethio Telecom earned 61.3 billion birr in the current fiscal year.

Ethio Telecom earned 61.3 billion birr in the current fiscal year.Mrs. Frehiwot Tamru stated that Ethio Telecom earned 61.3 billion birr in the fiscal year 2022. The CEO of Ethio Telecom said that the revenue compared to the plan is 87.6% and compared to the same period of last year, it is an increase of

July 28, 2022 • By Addis Insight

Business

Ethiopia and Kenya signed an agreement on the sale of electricity

Ethiopia and Kenya have signed an electricity sales agreement today. The agreement was signed by the Minister of State for Finance, Dr. Ayob Tekelani and the President of Kenya, Uhuru Kenyatta. According to Dr. Ayob in his social media page, the agreement allows Ethiopia to sell 200 megawatts of electricity to Kenya. He also pointed

July 26, 2022 • By Addis Insight

Business

Ignore  BBC’s  Report  on  Debt  Crisis:  Borrow  from  the  West  Like  There  is  No  Tomorrow

Yonas  Biru,  PhD This  is  a  back  of  the  envelop  analysis  on  international  debt  to  show  BBC’s analysis of Ethiopia’s debt crisis  is  rubbish.  Our  intellectuals  are  better  advised  to  spend  their  energy  in  making  sure the  loans  in  question  are  used  properly  rather  than  doing  their  #NoMore  አቶቶ ቡቱቶ on  US  and European  streets.

July 26, 2022 • By Addis Insight

Business

Ethiopia records more remittances from diaspora

Ethiopian diaspora remittances reached 4.2 billion U.S. dollars during the Ethiopian 2021/2022 fiscal year that ended on July 7, said authorities. Mohammed Idris, the deputy director of the Ethiopian Diaspora Agency, said Friday that the remittances recorded during the past fiscal year exceeded the target set for the period by 200 million U.S. dollars.The Ethiopian

July 23, 2022 • By Addis Insight

Business

Tsehay Bank has officially started its operations

Tsehay Bank has officially started its operations. National Bank Governor Dr. Yinagar Dese, the bank’s board leaders and invited guests were present at the bank’s launch program. The governor of the National Bank, Mr. Yinager Dese, said that the changes that have been taking place in the past four years in terms of new banks

July 23, 2022 • By Addis Insight

Business

Ethiopian Airlines To Serve Zürich This Winter

Zürich will be served by Ethiopian Airlines from October, bringing to 16 its European passenger route network this winter. It comes as many of the Star Alliance member’s European routes change, mainly in terms of where they stop en route. Ethiopian adds Zürich Ethiopian will begin Zürich on October 31st. It’ll operate via Milan Malpensa in both directions. Like other European routes, Ethiopian

July 22, 2022 • By Addis Insight

Business

Statement by President Biden on the U.S.-Africa Leaders Summit

I look forward to hosting leaders from across the African continent in Washington, DC on December 13-15, 2022, for the U.S.-Africa Leaders Summit.  The Summit will demonstrate the United States’ enduring commitment to Africa, and will underscore the importance of U.S.-Africa relations and increased cooperation on shared global priorities. The U.S.-Africa Leaders Summit will build

July 20, 2022 • By Addis Insight

Business

Tewolde GebreMariam received the Airlines Business Award at this year’s Airline Strategy Awards

Former Ethiopian Airlines chief executive Tewolde GebreMariam received the Airlines Business Award at this year’s Airline Strategy Awards on Sunday. Organized by FlightGlobal, the awards – which have been held since 2002 – recognize individuals, airlines, and companies supporting air transport that have demonstrated dynamic leadership and clear vision.   This year, Tewolde was among

July 19, 2022 • By Addis Insight