Author: AdemB
-
Ethiopian Airlines Expands Global Reach with Thrice Weekly Flights to London Gatwick
Ethiopian Airlines, Africa’s Largest Airline, Strengthens Bilateral Ties with UK Ethiopian Airlines, Africa’s largest airline, has officially launched three weekly direct flight services to Gatwick Airport in London, UK, marking a significant expansion in its global network and solidifying its position as a premier carrier connecting Africa to the world. This strategic move aligns with…
-
Ethiopian Airlines aircraft orders underpin aggressive growth plan
The aicraft orders by Ethiopian Airlines at the Dubai Airshow gives a glimpse of the carrier’s growth plans, anchored around a two-pronged strategy to consolidate its position as Africa’s biggest airline. Weighed against actions by Emirates and other airlines at the airshow, the orders of new planes reflect the race to make the most of…
-
World Bank document reveals $350M in donor funding for Ethiopia’s national digital ID
A planning document for Ethiopia’s Fayda ID digital identity supplied to the World Bank reveals that the program has been granted US$350 in funding to supplement its public investment. Details are contained in a Labor Management Procedures (LMP) document by the Ethiopia’s National ID Program (NIDP). The LMP document is intended to establish rules for the relationship between…
-
Ethio Lease Withdraws From Ethiopian financial market
The only foreign-owned financial services company operating in Ethiopia is pulling out of east Africa’s largest economy because of foreign exchange constraints, in a blow to efforts by Prime Minister Abiy Ahmed to attract investors. Ethio Lease, a unit of New York-based African Asset Finance Company, is the first and only foreign group to secure…
-
Default looms as Fitch downgrades Ethiopia amidst debt restructuring hopes
Exacerbated by the hard currency crunch and substantial gaps in external financing, Ethiopia risks defaulting on its debt services, predicts Fitch Ratings’ latest report on Ethiopia. Published on November 2, 2023, the credit rating agency downgraded Ethiopia from CCC- to the CC rank, with the junk level declining to the default stage. “Decline in external…
-
Ethiopia’s maiden stock exchange gets founding CEO
The recently formed board of directors of the Ethiopian Securities Exchange (ESX) has endorsed a key figure vital to kick off the Exchange as the founding chief executive officer (CEO), The Reporter learned. The appointed CEO, Tilahun Esmael Kassahun (PhD), was one of the chief architects behind the formation of ESX since it has been fermenting at…
-
commercial Bank of Ethiopia issued Licensing and Authorization of payment instrument Issuers
Recently National Bank of Ethiopia has issued payment instrument issuers directive No. ONPS/09/2023 for a clear reason to foster innovative payment instruments, promoting digitalization and in financial inclusion plus reducing use of cash in the economy and to fully enforce the amended national payment system proclamation number 1282/2023 art. 6. This specific directive which is…
-
EA and Bungie veterans present their new development studio
They are creating their first game within Fortnite. Several former developers from Electronic Arts, Bungie, and Kongregate have founded a new studio. Look North World counts in its ranks Alex Seropian, Jay Pecho, Patrick Moran, Aaron Marroquin, Kyle Marks and Prashant Patil. The best known of them is undoubtedly Alex Seropian, one of the founders of…
-
The mobile offshoot of Diablo 4 generated more money in a week than it did in a year.
In recent weeks, Diablo 4 has proven to be a huge success. In fact, despite the fact that Diablo Immortal was also a huge hit, Diablo IV made more money in a single week than it did in a whole year. ‘Blown out of the water’ comes to mind. The game Diablo 4 was released…
-
Red Dead Redemption 2 introduces 48 brand-new bandit missions.
There are now 48 bandit hideouts and a tonne of new activities in the open world of Red Dead Redemption 2. Red Dead Redemption 2’s modding community has recently gone bonkers, bringing a staggering quantity of fresh material to Rockstar’s highly praised masterwork. New playable characters, a New Game+ feature, and “ultra realistic” graphics upgrade…
