* Earnings hit $1.87 bln, up from $1.6 bln * Gold, oil seeds rise, coffee revenue down 7.9 pct ADDIS ABABA, March 27 (Reuters) – Ethiopia’s export earnings rose 16.6 percent in the eight months to February compared with the same period a year earlier, helped by rising revenue from gold and oilseed sales, while earnings from coffee dropped, ministry of trade data... Read more
Posts Tagged ‘Ethiopian economy’
Ethiopia export earnings rise 17 pct yr/yr in 8 months to Feb
March 27 | Posted by Ethiopiaforums | Business, Economy, Ethiopia, News, Uncategorized Tags: Economy, Ethiopian economy, Ethiopian inflation rate, export, inflation, inflation rate
Ethiopian Banks May Be Less Profitable as Deposit Growth Slows
January 18 | Posted by Ethiopiaforums | Economy, Ethiopia, News, Uncategorized Tags: Access, Access capital, Access Capital SC, bank, Capital, Economy, Ethiopia economy, Ethiopian economy, inflation, Profit(Bloomberg) — Ethiopian banks may become less profitable this year as deposit growth slows and because of a law that requires lenders to buy government securities, Access Capital SC said. Returns on equity are expected to be about 20 percent in coming years, compared with more than 30 percent previously, the Addis Ababa-based group said in an e-mailed research note on... Read more
Ethiopia Can Get $7.6 Billion by Selling Ethiopian Airlines and 4 More Companies
January 12 | Posted by Ethiopiaforums | Economy, Ethiopia, News, Uncategorized Tags: Access capital, Access Capital SC, Birr, Commercial Bank of Ethiopia, Economy, Ethio telecom, Ethiopian airlines, Ethiopian economy, Ethiopian Insurance Corp, Ethiopian Shipping Lines, EthioTelecom, inflation, Telecom(Bloomberg) Ethiopia’s government would raise 132 billion birr ($7.6 billion) if it sold the country’s five biggest state-owned companies to private investors, Access Capital SC said. The sale of Ethiopian Airlines Enterprises, sub-Saharan Africa’s second-biggest carrier, Ethiopian Shipping Lines, Ethio Telecom, the Ethiopian Insurance Corp. and Commercial Bank of Ethiopia would generate funds needed to finance infrastructure projects in the country,... Read more
Illegal Ethiopian Capital Flight Skyrocketed in 2009 to US$3.26 Billion [ Full Report ]
December 16 | Posted by Ethiopiaforums | Africa, Economy, Ethiopia, News, World Tags: aid money, Corruption, Dev Kar, Economist Dev Kar, Economist Sarah Freitas, Ethiopian corruption, Ethiopian economy, Financial Integrity, GFI, Illegal Capital Flight, Report, Sarah FreitasAfrican Nation Lost US$11.7 Billion in Illegal Capital Flight from 2000 through 2009, Writes GFI Economist WASHINGTON, DC – Corruption, kickbacks and bribery are on the rise in Ethiopia, according to a forthcoming report from Global Financial Integrity, a Washington-based research and advocacy organization. According to the study, illicit financial flows out of the African nation nearly doubled... Read more
Ethiopia’s ‘Distorted’ Monetary Plan Needs Reform, IMF Says
October 14 | Posted by Ethiopiaforums | Economy, Ethiopia, News, Uncategorized, United States Tags: Economic, Economy, Ethiopia economy, Ethiopian economy, Ethiopian inflation rate, IMF, International Monetary Fund(Bloomberg) — Ethiopia’s “highly distorted” monetary policy requires urgent reorganization because it is stunting growth and undermining macroeconomic stability, the International Monetary Fund said. The Horn of Africa country’s five-year economic-development plan that starts in the fiscal year beginning July 8, 2010, and targets annual growth of 11.2 percent is “very ambitious,” the Washington-based lender... Read more
Ethiopian Exports Increased by 38% in Year on Coffee
September 8 | Posted by Ethiopiaforums | Economy, Ethiopia, News, Uncategorized Tags: addis ababa, coffee, Ethiopian coffee, Ethiopian economy, Exports, Increased, year, Zemen bankExports from Ethiopia, Africa’s biggest coffee producer, surged 38 percent in the year through July 7 as shipments of the beans jumped, the Trade Ministry said. Total exports amounted to $2.8 billion in the period, the ministry said in a statement released yesterday in Addis Ababa, the capital. Coffee was the Horn of Africa nation’s biggest revenue earner, raising $841.7 million from... Read more
Food prices push Ethiopia inflation to 39 pct
August 9 | Posted by Ethiopiaforums | Economy, Ethiopia, News, Uncategorized Tags: Birr, birr inflation, Ethiopia inflation, Ethiopian economy, Ethiopian inflation rate, food price, inflation, inflation rate* July food costs up 47.4 pct yr/yr * Alcohol and tobacco, transport also climb ( ADDIS ABABA Aug 8 (Reuters) – Consumer prices in Ethiopia jumped 39.2 percent in July from a year earlier, mainly driven by a surge in food costs, the statistics office said on Monday. Food prices, which account for 57 percent of the consumer price index, jumped 47.4... Read more
Ethiopian Shipping Lines Net Profit 661m Br.
August 9 | Posted by Ethiopiaforums | Economy, Ethiopia, News, Uncategorized Tags: Esl, Ethiopian economy, Ethiopian ship, fr, ship, shipping lineThe Ethiopian Shipping Lines (ESL) registered a net profit of 661.5 million Br exceeding its projection for the 2010/11 fiscal year by nine per cent. During the last quarter of the 2009/10 fiscal year alone, it made an unprecedented profit of 641.3 million Br, which is 154pc of its projection for that fiscal year. It has also exceeded its projected plan... Read more
Ethiopia’s foreign direct investment declines
July 28 | Posted by Ethiopiaforums | Economy, Ethiopia, News, Uncategorized Tags: Economy, Ethiopian economy, Ethiopian export, export, investmentEthiopia’s foreign direct investment (FDI) continued on a downward spiral last year with the Horn of Africa country receiving just US$184 million in investment. According to the 2011 World Investment report released by the UN Conference on Trade and Development UNCTAD, Ethiopia’s share of FDI inflows to Africa is just two percent. “Unfortunately, the amount of FDI flow to Ethiopia has continued to... Read more
Ethiopia: SEBI issues FATF money-laundering warning for 10 countries
July 19 | Posted by Ethiopiaforums | Ethiopia, News, Uncategorized, World Tags: Ethiopian economy, FATF, India, money, SEBIAfter cautioning Indian markets about possible money laundering and terror-funding risks from Iran and North Korea, market regulator SEBI has issued a warning for funds from eight more countries, including Turkey and Ethiopia. A similar warning could be issued soon by the Reserve Bank of India (RBI) to banks and financial institutions seeking caution in dealings ... Read more
Ethiopian Birr Converter