Press Release Ethiopian Airlines, the largest and the fastest growing airline in Africa, is pleased to announce that it has won the Best Regional Airline of the Year award among airlines of all regions in the world by Air Transport World (ATW) at the 41st annual Air Transport World Airline Industry Achievement Awards ceremony held...
NAIROBI, (Xinhua) — Kenya’s central bank (CBK) said on Monday the introduction of capital buffers in 2013 has helped promote financial stability in the banking sector by cushioning banks in tough times. In 2013, the CBK raised capital requirements for commercial banks in a bid to cushion the lenders from potential turmoil in the local...
DUBAI: As part of its efforts to promote Dubai as a global business hub, the Dubai Chamber of Commerce and Industry’s Representative Office in Addis Ababa participated with a special booth in the 19th Addis Chamber International Trade Fair held at the Exhibition Center and Market Development Enterprise in the Ethiopian capital Addis Ababa from...
(Reuters) – Japan’s Financial Services Agency (FSA) is considering relaxing rules to allow banks to provide Islamic financial products in its domestic market for the first time. The financial regulator said in a statement on its website it was asking for public comments until March 27 and would present results of the consultation a month...
Istanbul (AFP) – Turkey’s flag carrier Turkish Airlines, which has grown exponentially in the last decade, said Wednesday its net profit more than doubled last year and was targeting 15 percent growth in passenger capacity in 2015. Turkish Airlines said in a statement that its full year net profits in US dollar terms for 2014...
By Rashed Ahmed General Assembly of the Intergovernmental Authority on Development (IGAD) Business Forum unanimously decided to establish an international arbitration center which is intended to settle business disputes in the IGAD region. In its fifth general assembly held in Djibouti for two days last week, the Business Forum highlighted the importance of a private...
By Yonas Abiye The Government of Ethiopia is going to launch a campaign to win votes for Sufian Ahmed, who is one of the candidates for the presidency of the African Development Bank (AfDB), the continental policy lending institution. The current Minister of Finance and Economic Development of Ethiopia, Sufian, who will turn 57 in...
By Christine Lagat and David Musyoka Nairobi — Numerous infrastructural projects being financed by Chinese government as well as those undertaken by Chinese firms will help boost Kenya’s economic development, officials said. Kenyan officials told Xinhua the loans from China for flagship projects such as the Nairobi super highway, Mombasa-Nairobi Standard Gauge Railway (SGR) construction...
By Rofhiwa Madzena Despite growth of 5.9 per cent; Nigeria is one of ten countries in the world with the highest number of extremely poor people. The growth of the Nigerian economy does not mean that the country’s citizens are experiencing better livelihoods. Africa biggest economy, Nigeria’s growth domestic product (GDP) grew by 5.9 per...
by Chrispinus Omar NAIROBI, (Xinhua) — East African leaders have agreed to rapidly push forward the planned creation of a Monetary Union to boost trade by signing a new treaty to expand the mandate of a regional court to resolve trade and investment disputes. They also set July as the deadline for ensuring all previous...