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Hotel Returns to Royalty |
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 Wabe
Shebele Hotel was confiscated by Derg in 1967 for not serving
interests of the
masses |
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Wabe Shebele
Hotel, located near Mexico Square, in Kirkos District, has been
returned to its original owners, Prince Mekonnen's five children.
After the Prince died in 1957, in a car accident near the town of
Modjo, his father, Empepror Hailesellassie ordered the construction
of the hotel. Four million Birr was spent in developing the
buliding. The hotel has 110 high class spacious rooms, and has five
chains under its auspices in Goba, Langano, Wondo, Sodere and Addis
Abeba. Two more hotels in Awassa have been bought by United Africa
Group for 6.95 million Br and by MIDROC Ethiopia. The hotels in Goba
and Sodere will be privatized soon.
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Djibouti Suspends Port Tariff Increase |
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The government of Djibouti has suspended planned
tariff increases on port services, a day before it
was due to come into effect on August 15, 2008. The
board of Djibouti Port Authority, chaired by
powerful businessman Abdourahiman Boreh, decided to
suspend the average 15pc hike. DP World Djibouti
said it was forced to raise tariffs due to high oil
prices on the global market and inflationary
pressures in Djibouti. |
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Courts to Lose Power to Reinstate Innocent
Workers |
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Customs workers fired for being suspected of
corruption, who are later found innocent, can no
longer be reinstated by the courts, according to a
new regulation. |
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Addis Gets 65pc of Imported Wheat |
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A lions share of the wheat the government is
importing to stabilize the price of grains will be
distributed in Addis Abeba. This was decided after
the first consignment of wheat - 135,096tn - reached
Addis Abeba early last week from the Port of
Djibouti. |
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Turkish
Textile Giant to Invest in Ethiopia |
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An Ethiopian delegation led by Beyene G. Meskel,
director general of the Privatization and Public
Enterprises Supervisory Agency (PPESA), flew to
Turkey on Monday August 11, 2008, to lobby major
Turkish textile companies to invest in Ethiopia. |
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Court Prohibits Senbeta from Leaving the
Country |
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The CD of the audio conversation between two
individuals, an Ethiopian and a Chinese national
judging from their accents, was not confined to the
commission; several copies were distributed, mainly
through the mail system and e-mails to the
management and the Board of Directors of the
Ethiopian Telecommunications Corporation. |
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Housing Agency Revokes Census Tender |
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The Agency for Government Houses (AGH) has revoked a
tender it had awarded Rainbow Plc for the census of
houses under the auspices of the former following
advice from the Central Statistical Agency (CSA) to
reconsider their decision. The AGH has thus
established its own project office to conduct the
census, sources disclosed.
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Revenue and Customs Employees to Register
Wealth |
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The Council of Ministers this week endorsed a
regulation that includes an article, which obliges
every employee of the Revenue and Customs Authority
(RCuA) to register all their properties, including
those in the names of individuals within their
immediate family. This is the first regulation of
this kind. |
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Trade Union Unhappy with Compensation Clause
for Plot |
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The Confederation of Ethiopian Trade Union (CETU) is
happy with a decision by the Addis Abeba City
Administration Lease Board to grant it a
controversial plot off Bole Road. It is, however,
disappointed to have to sign a document that states
it would pay compensation to anyone who might claim
ownership of the plot. |
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Restructuring at DBE, 40 Staff on Forced
Leave |
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DBE has not finalized the reengineering process in
some of its departments. Sections yet to be
restructured are Branch Coordination, Corporate
Planning and Resource Mobilization, Internal Audit,
Human Resource (partially), Property Administration
Process, Public Relations, and Export Guarantee
Scheme and Project Management Process. In two
months, these departments will undergo a similar
fate, marking the completion of the reform exercise
at the bank. |
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Revenue Authority Lays off 89 Employees |
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A Business Process Reengineering (BPR) study that
earlier led to the merger of the three revenue
collecting institutions - the Ethiopian Customs
Authority, the Federal Inland Revenue Authority and
the Ministry of Revenues - has now left 89 employees
redundant. There has also been a massive reshuffling
of employees, as the study recommends the authority
have trained and effective employees in order for
the government to generate substantial revenue. |
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Housing Agency Collects 193m Br in Rentals |
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The figures follow a recent restructuring that gave
it much more power. Officials at the Ministry of
Works and Urban Development (MoWUD), which controls
AGH, believe it is partly these changes that are
responsible for the improvement. |
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New Training Centre Ahoy for Shipping Line |
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Ethiopian Shipping Lines’ (ESL) new training
institute around Lake Babo Gaya in Debre Zeit is
nearly complete. |
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Ethiopian Shipping Lines Nets 417m Br Profit |
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The Ethiopian Shipping Lines (ESL) has netted a 417
million Br profit during the just ended budget year,
exceeding its target by 68pc. Compared to its
earnings in the previous year, it is 40pc higher.
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Sheraton
Launches Movies-on-Demand |
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Movies-on-demand is different from traditional pay
TV, or even from the satellite TV services. Most TV
services are offered in hotel rooms for free, but
the entire movies-on-demand system is designed to
drive revenue for the hotels. The movies-on-demand
has an easy-to-use interface, with multi-lingual
support. |
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Sister Act Move on to Mall Screens |
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One hundred and fifty of them are 19 inches (618mm X
370mm) and are meant to be installed inside
buildings at eye level. The remaining 50 are 32
inches (805mm X 495mm) and designed for larger
spaces, Surafel Wondimu, Lebon’s public relations
officer, told Fortune. |
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New Threat to Dembel as Loan Deal is Stopped |
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For a while, it seemed that things were heading in a
positive direction for Yemiru Nega, developer of
Dembel City Centre, the largest construction complex
in the country. |
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Cotton Projected to Spin $500m from 2011 |
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Federal authorities are not happy with foreign
exchange earnings of the textile sector. For
instance, in the 2007/08 fiscal year, the country
only earned 14.6 million dollars from textile
exports, although the target set was 64 million
dollars. The government, however, believes that the
country has great potential for expansion in this
sector. |
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New Road Blocks Expanding Nile Petroleum |
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The roads authority’s request will be accepted at
the next meeting of the newly installed City Lease
Board, where it is expected to be a priority,
sources disclosed. |
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