By Fasika Tadesse Ethiopian Airlines, the national carrier, moves further to conquer the hotel industry through the construction of a 637-key five-star hotel in the capital. The hotel costs the Company about 2.5 billion Br. The hotel will also have a duty-free shop, cultural shop, an aviation museum and parking lots built on a 22,410sqm...
November 9, 2026
Category: Market Bazaar
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AfDB and IsDB partner to boost agriculture and fight drought in Nigeria, Somalia and Uganda
A joint initiative of the African Development Bank (AfDB) and the Islamic Development Bank (IsDB) will boost agriculture value chains and enhance drought resilience in Nigeria, Somalia and Uganda. The initiative is part of a broad coalition to boost collaboration between the two institutions in agriculture, water and sanitation. The combined active portfolio of both...
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Tanzania, Djibouti, Somali among new destinations for Emirates and flydubai
Building on the success of the initial phase of their partnership, Emirates and flydubai have announced 16 additional destinations to which Emirates’ passengers will be able travel on a single ticket. The new, expanded network now includes sought-after destinations such as Zanzibar, Kathmandu and Kilimanjaro. Travellers can book on Emirates.com, through Emirates’ Contact Centres, or...
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Saudi Arabia faces battle to repatriate assets after corruption crackdown
By Saeed Azhar, Joshua Franklin DUBAI/ZURICH (Reuters) – Saudi Arabia has announced it will confiscate money and assets held by dozens of top officials and businessmen detained in an anti-corruption crackdown. But the experiences of two other Arab states trying to recover stolen money, Egypt and Tunisia, suggest Riyadh may face years of legal and...
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Qatar retools after boycott by top auto parts supplier Dubai
By Eric Knecht DOHA (Reuters) – In a dusty industrial zone in the south of Doha where the city’s auto repair shops are clustered, one unlucky blue Hyundai Santa Fe has been sitting with its front smashed in since June 5, the day four Arab nations announced a boycott of Qatar. The SUV has fallen...
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Global experts underscore investments in energy sector in Somalia
MOGADISHU, (Xinhua) — International energy experts are meeting in Mogadishu on Wednesday to discuss investment opportunities in Somalia’s sustainable energy sector. Minister of Energy and Water Resources Salim Aliyow Ibrow, who opened the meeting late Tuesday, said the government was in the process of drafting regulations to govern investment in the energy sector. Ibrow noted...
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Saudi billionaire Prince Alwaleed, former ministers detained in corruption probe
RIYADH, – One of Saudi Arabia’s most prominent businessmen and a former finance minister are among dozens detained in a probe by a new anti-corruption body, a senior Saudi official said on Sunday. The official, who declined to be identified under briefing rules, said billionaire Prince Alwaleed bin Talal, who owns investment firm Kingdom Holding...
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Ethiopian Airlines receives first African Boeing 787-9
Boeing and Ethiopian Airlines have celebrated the delivery of the carrier’s first Boeing 787-9. Ethiopian is leasing the Dreamliner through an agreement with AerCap. Ethiopian’s newest 787 touched down in Addis Ababa following a non-stop 8,354-mile flight from Boeing’s Everett, Washington, facility. The airline becomes the first carrier in Africa to operate the 787-9 and...
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Somaliland launches flagship job creation programme
Authorities in Somaliland, along with the World Bank, have launched the first round of funding in the Bank’s flagship job creation program, the Somali Business Catalytic Fund (SBCF). The fund will support 150 to 200 businesses, with one third of grants to businesses in Somaliland. The first round will provide grants to 35 enterprises in...
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Ethiopia devalues currency by 15 percent to boost exports
By Aaron Maasho ADDIS ABABA, Oct 10 (Reuters) – Ethiopia’s central bank devalued the Ethiopian birr by 15 percent on Tuesday, its first such move in seven years to boost lagging exports. The birr was quoted by the National Bank of Ethiopia at a weighted average of 23.4177 against the dollar on Monday, compared to...