Business: Internet shutdowns take their toll on economy

Business: Internet shutdowns take their toll on economy

[adToAppearHere] African Business James Jeffrey December 29,2016 Since the government declared a six-month state of emergency at the beginning of October in response to escalating violence from protests seething since November 2015, internet restrictions and blocking of applications have increased in frequency. Beyond simple inconvenience, there is a mounting financial cost. Internet shutdowns in Ethiopia […]

ERCA may increase Value Added Tax withholding : Capital

ERCA may increase Value Added Tax withholding : Capital

[adToAppearHere] By Muluken Yewondwossen Capital Published on December 22,2016 The growing number of requests for tax refunds is causing the government to consider increasing the withholding percentage from Value Added Tax (VAT). In the first four months of the budget year over 2.6 billion birr was slated to be refunded. There have been so many […]

Business : Ethiopian Airlines poised to commence direct flight to Singapore

Business : Ethiopian Airlines poised to commence direct flight to Singapore

borkena December 20,2016 Ethiopian Airlines is poised to commence direct flight to Singapore starting June 2017, it announced yesterday on its website. It plans to use ultra-modern Boing 787 for the non-stop flight from Ethiopia to Singapore. Changi airport will be an addition to Ethiopian Airlines destination to its non-stop flights to Asia. Business Travelers […]

Business : African Development Bank lends $159 mln to Ethiopian Airlines

Business : African Development Bank lends $159 mln to Ethiopian Airlines

Reuters December 15,2016 ADDIS ABABA – Ethiopian Airlines will get a $159 million loan from the African Development Bank to help finance an expansion plan that includes doubling the size of its fleet and increasing its revenue to $10 billion over the next decade. The state-owned carrier has around 80 planes, including Boeing 787 Dreamliners […]