Ethiopia Financial News

pharmaceuticals exports increased 9.67 per cent year-on-year to USD 27.9 billion in 2023-24, even as the total exports dipped by 3 per cent in the last fiscal. According to the commerce ministry data, pharma exports in March grew by 12.73 per cent to USD 2.8 billion. In 2022-23, the exports stood at USD 25.4 billion. The top five export markets, for the sector during the last fiscal, are the US, the UK, the Netherlands, the United Kingdom, South Africa and Brazil.

Days after the Centre asked e-commerce companies to eject Bournvita and other drinks and beverages from the ‘health drinks’ category on their platforms, Nestle has landed in hot water. After Public Eye, a Swiss investigative organization, and International Baby Food Action Network sent samples of Nestle’s baby food products sold in Asia, Africa and Latin America to a Belgian laboratory for tests, sugar was reportedly found in the infant milk-mix meant for less developed markets, but not in the stuff aimed at Europe and the UK.

FSSAI) on Thursday took cognisance of Nestle's Cerelac sugar case, reported ET NOW citing sources. The regulator said that if found guilty, strict actions will be taken against the brand. A committee will be examining the matter, said FSSAI, as per ET NOW sources. Nestle sugar controversy Nestle adds sugar to infant milk sold in less affluent nations including India but not in its primary markets like Europe or the UK, reported ToI. The revelation came to light when «Public Eye,» a Swiss investigative organization, and IBFAN (International Baby Food Action Network) dispatched samples of the company's baby food items marketed in Asia, Africa, and Latin America to a Belgian laboratory for examination.

The coffee that picked you up this morning is 600,000 years old

New Delhi's decision to post military and defence attaches to several new countries reflects India's changing assessments of strategic interests. Countering China, safeguarding critical gateways and increasing export of Indian military hardware is behind the choice of these new outposts that include several countries in Africa, East Europe and Asia Pacific. Now, GoI must ensure that defence personnel in missions abroad aren't limited to procurement, trade and training, as defence is an essential component of strategic relations. A better understanding of a defence attache's role is a must for the most optimum outcome.

Officials say an Air Canada Boeing 737 flight headed from Mexico City to Vancouver, Canada, had an in-flight emergency and made an unscheduled landing at Boise, Idaho, airport

The global labour market is in the midst of a gradual but significant transformation. Driven by a dramatic collapse in birth rates, impeded globalization, changes in the capital intensity of growth, a preference shift towards fewer work hours, initial use cases of artificial intelligence (AI) and societal angst over immigration, labour market dislocations have already begun and are only about to go further out-of-whack with time. The manifestations and initial responses are different, country by country, but the meta phenomenon is a major upheaval in labour markets that will necessitate responses.

Boeing CEO David Calhoun is getting compensation valued at $33 million for last year, nearly all of it in stock awards

₹40,000 crore in annual defence exports by 2026, he said. “We cannot get qualified for more naval defence exports until we get more contracts from the Indian government that can act as a reference for us to export," he said. Similarly, the company’s facilities for making 100 units of 52-calibre self-propelled gun systems has been under-utilised after executing the order it received in 2018, Naik said.

Ethiopia’s biggest bank says it has recouped nearly 80% of the cash it lost during a system glitch that allowed customers to take out more money than they had in their accounts

Boeing CEO David Calhoun will step down from the embattled plane maker at the end of the year as part of a broad management shakeup Monday after a series of mishaps at one of America’s iconic manufacturers

Ethiopia’s biggest bank is reportedly attempting to recover more than $40 million after a technical glitch allowed customers to withdraw more than they had in their accounts

Ethiopia's largest bank is struggling to recoup millions of dollars after a glitch over the weekend allowed customers to withdraw unlimited funds, according to local media reports.

Boeing acknowledged the loss in a letter to Congress.

The Turkish energy minister says Turkey and Somalia have struck an oil and gas cooperation agreement for the Horn of Africa nation

(Reuters) — The latest black eye for Boeing's (N:BA) top-selling 737 MAX aircraft occurred in January when a cabin panel blowout forced an Alaska Airlines flight to make an emergency landing.     U.S. regulators briefly grounded certain planes for safety checks, a move less severe than the grounding of all MAX-family jets worldwide nearly five years ago following a pair of fatal crashes.

Boeing is not as committed to safety as it claims it is, an FAA report concluded.

MILAN — London-based designer Feben opened the last day of Milan Fashion Week with a refreshingly diverse runway in every way, both in size and race.

Somalia has announced a defense deal with Turkey that includes support for the Horn of Africa nation’s sea assets and appears aimed at deterring Ethiopia’s efforts to secure access to the sea by way of the breakaway region of Somaliland

Boeing 737 MAX-8 jets in March 2019, staff at his department prepared three very different speeches.They outlined three different scenarios: restricting the aircraft from Canadian airspace, as many countries already had, declaring the MAX-8 safe to fly, as the Americans did, or allowing the aircraft to operate “only if certain standards were met.”The speeches are part of a newly released trove of internal documents on the federal government’s decision to ground the Boeing jets following a deadly 2019 crash in Ethiopia that killed 18 Canadians.Next month marks the fifth anniversary of the disaster.It’s not unusual for staff to draft multiple versions of speeches for ministers. But the fact that each of Garneau’s three prepared remarks contained vastly different decisions on the grounding of the MAX-8 illustrates the uncertainty at Transport Canada over the jets’ safety.Emails, memos and briefing notes obtained by Global News through access to information law show three days of flurried activity at Transport Canada as the agency’s position continuously evolved.

detained in Russia while paying tribute to opposition leader Alexei Navalny, who died at a remote Arctic penal colony, a prominent rights group reported Sunday. The sudden death of Navalny, 47, was a crushing blow to many Russians, who had pinned their hopes for the future on President Vladimir Putin's fiercest foe. Navalny remained vocal in his unrelenting criticism of the Kremlin even after surviving a nerve agent poisoning and receiving multiple prison terms.