Ethiopia Financial News

Ethiopia has inked a memorandum of understanding with Data Centre Service, a subsidiary of Hong Kong’s West Data, to build a $250 million data mining infrastructure project in the country.

Ethiopia has become a lucrative destination for Bitcoin miners with lower energy costs and friendly government policies driving the move.

Ethiopia is growing popular for Bitcoin mining after China ejected the industry from its borders in 2021.

Tata Mumbai Marathon, which saw Ethiopian defending champions Hayle Lemi Berhanu and Aberash Mineswo winning in the men's and women's category respectively. The marathon, flagged off from Chhatrapati Shivaji Maharaj Terminus by chief minister Eknath Shinde, along with deputy CM Devendra Fadnavis, saw participation from Tata Sons chairman N Chandrasekaran, TCS CEO K Krithivasan, Indiabulls Housing Finance managing director Gagan Banga and Bollywood actress Kalki Koechlin, among others. «It is absolutely terrific to be back here at the Tata Mumbai Marathon. It is the 20th year.

think tank that functions under the union home ministry has issued an advisory and alert against a variety of scams that take place on popular social media messaging platform WhatsApp leading to cyber crimes and financial frauds. The Bureau of Police Research and Development (BPRD) has identified seven types of such frauds that includes tricking through missed calls, video calls, in the name of job offers and investment plans, impersonation, hijacking and screen share. As part of the 'hijacking' scam, the eight page advisory-cum-alert said, the scammers take unauthorised access to the victim's WhatsApp (WA) account and request money from their contacts.

Global South. Echoing India's thought Russia wants to project BRICS as non-Western and not anti-Western concept. “BRICS is not targeted against anyone…it offers alternative instruments, which are supposed to be safe from the politicised Western architecture, including in the context of de-dollarisation.

Instant is in, fancy is out

The fallout from the mid-air blowout of a panel on an Alaska Airlines flight last week adds to the already “checkered history” for Boeing’s MAX jets, experts say, and puts the company’s once-sterling commercial aircraft reputation further at risk.

Boeing Co. Chief Executive Officer Dave Calhoun sought to rally employees reeling from a manufacturing setback, this time involving wrongly drilled holes in a crucial aircraft section — yet another blow to a company that once enjoyed a sterling reputation for building awesome flying machines. “I have heard those outside our company wondering if we’ve lost a step. I view it as quite the opposite,” Calhoun wrote in a company memo, going on to tout the “rigor around our quality processes” at the US aircraft manufacturer. “I am proud of the team, and confident we’ll look back on this time period as when we took the necessary steps that set Boeing on the right course for the future.”

Vitalik Buterin, Ethereum's co-founder, recently proposed a significant change to the Ethereum blockchain's proof-of-stake (PoS) system. The core of his proposal is to reduce the number of signatures that validators must process. Currently, Ethereum's PoS mechanism involves around 895,000 validators processing approximately 28,000 signatures per slot, which results in a heavy load on the network​​​​.

When Boeing was building a seemingly unassailable position in commercial aviation in the 1960s and 70s, passengers’ faith in its relentless focus on quality inspired the slogan “If it ain’t Boeing, I ain’t going." After the latest calamity to befall the company—the in-flight blowout of a 737 Max door plug of a plane operated by Alaska Airlines that fortunately wasn’t fatal, unlike the two crashes involving 737 Max jets in 2018 and 2019— aviation needs a new catchphrase that encapsulates Boeing’s shattered safety reputation and the ascendance of its sole big rival. This flier suggests, “If it ain’t Airbus, the regular bus will do just fine." In the wake of the Lion Air and Ethiopian Airlines disasters, I wrote that the Airbus-Boeing duopoly had become “extremely unbalanced." At this point, I’m running out of hyperbole to describe the starkly diverging fortunes of the two aircraft makers.

Xi Jinping upgraded diplomatic ties with a record number of countries last year as he seeks to rally the Global South to help reshape the US-led world order. Beijing elevated the way it described ties with 17 countries and territories, most of them from the developing world, according to a Bloomberg analysis of statements issued by the foreign ministry. That’s a pace not seen during Xi’s first decade in office.

ALSO READ: BRICS Summit 2023 Highlights HERE "Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates joined BRICS as new full members which is a strong indication of the growing authority of the association and its role in international affairs," the Russian president said. 1. In a statement on the start of Russia's BRICS Chairmanship, Putin said in the statement published on the Kremlin website that the Russian 2024 BRICS Chairmanship will "focus on positive and constructive cooperation with all countries concerned".

BRICS bloc of top emerging economies, including India, Russia and China, has announced induction of five full members into it as part of an attempt to expand its strategic heft against the backdrop of Western dominance in world affairs. As Moscow assumed the presidency of BRICS, Russian President Vladimir Putin said on Monday that the grouping has become a 10-nation body now with Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates joining it as new members.

In the coming year, we will see not greater multipolarity, but greater bipolarity. China has replaced Russia as America’s main competitor in a new cold war that is less about ideology and more about markets and technology. The $18 trillion Chinese economy has already overtaken that of all 27 European Union countries combined, and China is the largest trading partner to more than 120 countries.

(Bloomberg) — Membership of the BRICS group of emerging-market nations is set to double, with Saudi Arabia, Iran, the United Arab Emirates, Ethiopia and Egypt to join its ranks on Jan. 1, South Africa’s envoy to the bloc said. 

SDGs) and SDG-related climate targets, including through multilateral institutions where India and Germany are members, such as the International Solar Alliance (ISA)," the two sides said in a joint declaration of intent released in May 2022. The two sides are also considering expanding their collaboration into Madagascar and Ethiopia, Dhanda told Mint.

Something has gone badly wrong in Africa. Sudan has collapsed into carnage, as two grasping warlords battle for control. Genocide has returned to Darfur: fighters loyal to one of those warlords are murdering every male they can find from one ethnic group, even shooting baby boys strapped to their mothers’ backs, as we report.

Paul Lynch won this year's Booker Prize for his dystopian novel, Prophet Song. Set in the near-future, it is a novel of our times: a liberal democracy — in this case, Ireland — under authoritarian rule with law enforcement and the judiciary weaponised by far-reaching powers. But it is a particularly illuminating point made by Lynch in a TOI interview that merits more burrowing.

NATO member Finland has closed its last remaining border crossing with Russia

commerce ministry is working to address issues related to non-tariff barriers and market access for domestic products in sub-Saharan African countries like Nigeria, Ethiopia, Ghana and Gulf nations to boost India's exports, an official said. The official said meetings have been held with Indian missions of the sub-Saharan African countries with which India has significant bilateral trade. The major trading partners of India in that region in 2022-23 were South Africa (total trade USD 18.9 billion, exports USD 8.5 billion); Nigeria (USD 11.85 billion, exports USD 5.15 billion); Togo (USD 6.6 billion, exports USD 6 billion), and Tanzania (USD 6.5 billion, exports USD 3.93 billion). The other countries were Mozambique (USD 5 billion, exports USD 2.5 billion); Angola (USD 4.22 billion, exports USD 621 million); and Kenya (USD 3.4 billion, exports USD 3.2 billion). «A virtual meeting with Indian Mission of top 10 countries (bilateral trade-wise) in sub-Saharan African region was held in September to discuss the overall economic and commercial relations with those countries, export performance and non-tariff barriers which are acting as impediments to bilateral trade and enhance exports,» the official said. A similar meeting was also held with Indian Missions in GCC countries. GCC is a union of six countries in the Gulf region — Saudi Arabia, the UAE, Qatar, Kuwait, Oman, and Bahrain.