Ethiopian Airlines is teaming up with four African carriers and will manage a fifth as it looks to expand on the continent Ethiopian Airlines is teaming up with four African airlines and has inked a deal to set up a fifth, the company’s chief executive told AFP, as it continues its expansion on the continent....
By Marc Jones LONDON (Reuters) – Investors rattled by events in Turkey, China and South Africa have pulled $1.3 billion out of emerging-market stocks in the last week and $100 million from bonds, according to the Institute of International Finance, which tracks financial flows. An emerging-market selloff has picked up pace over the last week...
By Saeed Azhar, Marwa Rashad, Pamela Barbaglia DUBAI/RIYADH/LONDON (Reuters) – Saudi Arabia’s Public Investment Fund (PIF) has shown no interest so far in financing Tesla Inc (TSLA.O) CEO Elon Musk’s proposed $72 billion deal to take the U.S. electric car maker private, despite acquiring a minority stake in the company this year, two sources familiar with the...
An Ethiopian Airlines plane. The carrier is seeking to set up hubs in southern Africa, Central Africa and the Horn. PHOTO | FILE By ANDUALEM SISAY Ethiopian Airlines should be co-owned by African governments, suggested its Group chief executive Mr Tewolde Gebremariam on Friday. Commenting on the recently announced privatisation plan by the government for...
By Behailu Ayele The Prime Minister established a 21-member privatisation advisory council on Friday Prime Minister Abiy Ahmed (PhD) set up an advisory council, consisting of 21 members. The council will advise the government on the process of privatising state-owned enterprises. Council members, formed on Friday August 3, come from government, the private sector, academia,...
By Maggie Fick ADDIS ABABA (Reuters) – Businessmen who have to deal with Ethiopia’s customs system like to joke that if you get a permit to import yellow paintbrushes, make sure every last one is yellow. If an orange brush slips into the batch, let alone a red one, forget it – your shipment will be...
RIYADH (Reuters) – Saudi Arabia’s King Salman arrived for a holiday in NEOM, the $500 billion flagship business zone that his son and heir apparent has pledged to build from scratch in a remote corner of the kingdom, state media said on Monday. The royal family has traditionally spent much of the summer outside the...
Addis Ababa – DHL Global Forwarding, the leading international provider of air, sea and road freight services, and Ethiopian Airlines, the largest aviation group in Africa, today signed a new agreement to form a joint venture company – DHL-Ethiopian Airlines Logistics Services Ltd., to build the Leading Cargo Logistics provider JV company in Africa; the...
ADDIS ABABA/JOHANNESBURG (Reuters) – In the weeks since Ethiopia announced sweeping privatization plans after decades of state control, foreign businessmen have been beating a path to Belachew Mekuria’s office. “Everyone is here. MTN is here, Safaricom. I mean everyone is coming,” the new head of the Ethiopian Investment Commission (EIC) said of the stiff competition...
AFP- The soporific seaside town of Berbera is slowly changing as it takes on a major role on the Red Sea shipping route, allowing breakaway Somaliland to dream of prosperity and even recognition. At the Berbera port, dozens of containers are stacked on a sun-scorched platform and a few cranes creakily transfer sacks of sorghum...