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The AI Threat to Financial Stability
US Federal Reserve Chair Kevin Warsh recently announced a new task force that will “survey the pace, the reach, [and] the economic impact of new general-purpose technologies, including AI, and explore the implications for the Fed” as it pursues its “employment and inflation mandates.” Notabl...
Amhara Region of Ethiopia Produced 357 Kilograms Gold
The Amhara Region of Ethiopia announced that it has produced and delivered 357 Kilograms of Gold to the National Bank of Ethiopia during the budget year of the country ended July 7, 2026. This is indicated during the Amhara National Regional State Council 12th regular session of the 6th round, 5th y...
Ethiopia Generates 21 Percent More Electricity, Half Generated From GERD
The Ethiopian Electric Power (EEP) Generation Business Unit has announced that it generated more than 35,670 gigawatt-hours (GWh) of electricity during the Ethiopian fiscal year ended July 7, 2026. The amount represents 21 percent more than the electricity the country generated the previous year. Ou...
NBE bars former Global Bank CEO Tesfaye Boru for five years
The National Bank of Ethiopia (NBE) has barred Tesfaye Boru, former Chief Executive Officer of Global Bank Ethiopia (GBE), from holding senior leadership roles in any financial institution for five years, citing repeated regulatory violations. In a letter dated July 29, the central bank confirmed th...
ESL Says Commercial Review Underway as Middle East Tensions Disrupt Shipping
State-owned Ethiopian Shipping and Logistics (ESL) says it is closely monitoring the evolving security situation in the Red Sea and the wider Middle East, while weighing commercial options to keep Ethiopian cargo moving without disruption. ESL Chief Executive Officer Abdulber Shemsu said the company...
Ethiopian Shipping posts record profit despite regional security disruptions
Ethiopian Shipping and Logistics (ESL) reported a sharp rise in profit for the 2025/26 fiscal year, overcoming regional conflicts, security threats and operational disruptions that affected its shipping activities. According to the company’s unaudited annual performance report, ESL generated 1...
Djibouti rejects unilateral taxation proposal for Bab el Mandeb Strait
Djibouti has firmly rejected any attempt to impose unilateral taxes or transit fees on vessels passing through the Bab el Mandeb Strait, warning that such a move would violate international law and threaten one of the world’s most important maritime routes. In a statement issued Wednesday even...
Geopolitical Tensions in the Gulf and Fuel Surges Drive 25% Increase in Airline Operating Costs
Escalating geopolitical tensions in the Gulf region and soaring global fuel prices have created severe operational hurdles for Ethiopian Airlines, causing overall operating costs to surge by 25%. According to Ethiopian Airlines Group CEO Mesfin Tasew, ongoing conflicts in the Middle East have signif...
Development Bank of Ethiopia to Provide €31 Million in Loans to MSMEs
With the help of KfW Development Bank, the German government’s official development bank, Ethiopia’s state owned financial institution – the Development Bank of Ethiopia (DBE) is set to provide €31 million in loans to support micro, small, and medium-sized enterprises (MSMEs) ope...
Ethiopian Airlines Concludes Nine New Passenger Aircraft Purchases
Ethiopian Airlines Group Chief Executive Officer Mesfin Tasew announced that the purchase of nine new passenger aircrafts was completed during the Ethiopian budget year concluded July 7, 2026. In a briefing regarding the airline’s 2018 budget year performance, the CEO stated that 897,000 metric to...
Zijin Gold acquisition of Allied Gold falls through, invests US$295 million instead
The planned acquisition of Canada’s Allied Gold Corporation by China’s Zijin Gold International has officially been terminated after both companies concluded that the conditions required to complete the transaction could not be met by the July 29 deadline or within a reasonable timeframe. Instea...
Hundreds of Ethiopian Women Rescued from Misery in Saudi Arabia
Hundreds of Ethiopian women immigrants are rescued from misery in Saudi Arabia. A total of 1,834 Ethiopian nationals who had been living in difficult circumstances in Saudi Arabia have returned to Ethiopia, says Ministry of Women and Social Affairs of Ethiopia. The returnees arrived during the week ...
Ethiopia Plans to Boost Manufactured Goods Export Income to One Billion USD
Ethiopia, whose export trade is heavily reliant on raw agricultural commodities and minerals, aims to increase its income from manufactured goods export to one billion USD next year. This is indicated by the Minister of Industry Melaku Alebel, who spoke at a discussion is currently being held with m...
Ethiopia – US Security Partnerships Can Lead to Commercial Opportunities, Says AFRICOM
The African Communications and Logistics Symposium (ALCS) 2026 brought together military leaders, government officials, industry representatives, and delegates from more than 40 countries at the Hilton Hotel Addis Ababa, Ethiopia. During the event, New Business Ethiopia’s Reporter Yordanos Tad...
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