Ethiopia Financial News

BRICS which is a group of 5 countries that include... moreBRICS which is a group of 5 countries that include Brazil, Russia, India, China and South Africa has now invited 6 more countries to become members..

Narendra Modi addressed the 15th BRICS Summit being held at Johannesburg in South Africa. At the meet PM Modi said," I believe BRICS and friendly countries can work together to strengthen a multi polar world'. Further, BRICS leaders announced on Thursday the "historic" admission of six new countries from next year as the club of large and populous emerging economies seeks to reshape the global order.

BRICS 2023 summit: UAE President Mohammed bin Zayed Al Nahyan on 24 August said his country looks forward to working with BRICS for the benefit of all. In a post on X, formerly known as Twitter, he wrote, “We respect the vision of the BRICS leadership and appreciate the inclusion of the UAE as a member to this important group.

BRICS - Brazil, Russia, India, China and South Africa: 6 more countries become members. The new members include Argentina, Iran, the United Arab Emirates, Saudi Arabia, Ethiopia and Egypt. South Africa's President Cyril Ramaphosa delivered an address on August 24 and declared the names of the new members while announcing the summit's outcomes.

Xi Jinping has arrived in South Africa, Chinese state media reported Tuesday, where he will attend the BRICS summit in Johannesburg. The state visit will be Xi's second of 2023, after making an official trip to Russia in March. «Chinese President Xi Jinping arrived in Johannesburg on Monday to attend the 15th BRICS Summit to be held here, and pay a state visit to South Africa,» Xinhua news agency said, adding he had been «warmly welcomed» by South African President Cyril Ramaphosa. «Xi said that he is very glad to visit South Africa again and looks forward to having in-depth exchanges of views with Ramaphosa on deepening China-South Africa relations and issues of common interest,» Xinhua said. The heads of Brazil, China, India and South Africa plus Russia's top diplomat will gather from Tuesday to Thursday this week under the theme «BRICS and Africa», South Africa's Foreign Minister Naledi Pandor said this month. Russian President Vladimir Putin — who is sought by the International Criminal Court (ICC) for his role in the Ukraine war — will not attend this year's BRICS conference in South Africa, which is a signatory of the ICC. The Chinese leader previously visited South Africa in 2018 as he sought to enhance his country's diplomatic and economic ties with the continent. On the agenda at this year's summit will be the possible future expansion of BRICS membership, which the bloc has previously indicated it is open to. Several African countries have previously expressed a desire to join the bloc, including Algeria, Egypt and Ethiopia. A total of 69 countries have been invited to the summit, including all African states. BRICS, a loosely-defined group that sees itself as a counterweight to Western economic domination,

HRW) said on Monday. In a 73-page report, the rights group said Saudi guards used explosive weapons to kill some migrants and shot at others from close range. It compiled testimony from 38 Ethiopians who tried to cross the Yemen-Saudi border between March 2022 and June 2023, as well as four relatives or friends of migrants. Human Rights Watch said attacks against groups of migrants, who used remote mountain tracks to cross into Saudi Arabia by foot, were «widespread and systematic» and that the «killings are continuing». A Saudi official, who did not provide their name, said on Monday in an emailed response to questions to the government's media office that HRW's allegations were «unfounded and not based on reliable sources.» Saudi authorities have also strongly denied allegations made by U.N.

airstrike on a crowded town square in Ethiopia's restive Amhara region killed at least 26 people and wounded more than 55 others, a senior health official said Monday, days after authorities asserted that calm had been restored in the area. Local militia members have been clashing with Ethiopia's military over efforts to disband them, and last week the military retook key Amhara towns by force. The airstrike hit the center of the Finote Selam community on Sunday, said the health official, who like other people spoke on condition of anonymity for fear of retaliation.

A local LGBTQ+ support group, House of Guramayle, said that some TikTok users are also outing Ethiopians by sharing their names, photographs and online profiles on one of the country's most popular social media platforms. In Ethiopia, homosexual acts are punishable by up to 15 years in prison. The East African country whose population of close to 120 million is split between Christianity and Islam is largely conservative, and while LGBTQ+ people have long suffered abuse, activists say the hostility has reached a new level.

agricultural trading house Bunge. Exxon Mobil has a multiyear agreement with Global Clean Energy Holdings to purchase renewable diesel made from camelina. Growing these oilseed plants between main crop rotations on land already used for farming helps limit damage like deforestation, says Alex Clayton, global strategy and commercial lead for Nuseed Carinata.

Export rule liberalization – 78% respondents cited this as the most needed. To illustrate, while the Central Board of Indirect Taxes and Customs issued a defining circular in September 2021 clarifying doubts on the scope of intermediary services, the benefit is yet to be fully witnessed with certain categories of exporters in the IT/ITeS and data hosting services sector still being continually questioned, resulting in prolonged litigation and the delay in refund resulting in working capital blockages.

Some African leaders have arrived in Russia for a summit with President Vladimir Putin as the Kremlin seeks more allies amid the fighting in Ukraine

India's ban on shipments of a key variety is squeezing supplies and igniting concerns over food security. Buyers from Africa to Asia are likely to scramble for rice shipments as supplies tighten in coming months following India's decision last week to ban non-basmati white rice exports.

Gandhinagar: Most G20 member countries believe that a one-size-fits-all approach to debt restructuring may not be feasible for all vulnerable nations, considering the differing circumstances of low- and middle-income countries, a person with direct knowledge of the discussions said on Sunday. “There’s a need for distinct debt restructuring strategy for every low- and middle- income country," the person said seeking anonymity. In June, Zambia struck a deal to restructure a $6.3 billion debt owed to various governments, including China, raising hopes of similar deals for other vulnerable nations awaiting relief for several years.

Concerns are growing that Russia won't extend a United Nations-brokered deal that allows grain to flow from Ukraine to parts of the world struggling with hunger

United Nations Conference on Trade and Development (UNCTAD) has released a report on global investments for the year 2022. According to the report, the net inflow of foreign direct investments (FDI) to Central biggest state Kazakhstan amounted to $6.1 billion, the highest figure in the past 5 years and 83% higher than in 2021. This is the highest indicator among the post-Soviet countries.

The Associated Press.  Grave violations include the recruitment and use of children by combatants, killings and injuries, sexual violence, abductions, and attacks on schools and hospitals. UNICEF also expressed particular concern about their plight in Haiti, Nigeria, Ethiopia, Mozambique, and Ukraine, where Russia has been put on the UN blacklist.

U.S. Citizenship and Immigration Services is likely to adds a speaking section to to the test. For the exam, an officer would show photos of everyday scenarios and ask the applicant to verbally describe the photos.

The National Bank of Ethiopia (NBE) has issued a mobile money-service license to Safaricom M-Pesa Mobile Financial Service, it announced May 11. Previously, only Telebirr, part of the state-owned Ethio Telecom network, operated in that market.

Leaders of several global financial bodies warned that rising interest rates are increasing pressure on low-income developing countries, around 60% of which are now in or at high risk of debt distress.

A recent college graduate and a single mom are dabbling hopefully in bitcoin after attending a crypto workshop sponsored by rapper Jay-Z at the public housing complex where the hip-hop star grew up. But a former executive at a cryptocurrency exchange feels disillusioned by the false promise of crypto helping her family in Ethiopia's war-torn Tigray region. All were drawn by the idea of crypto as a pathway to wealth-building outside of traditional financial systems with a long history of racial discrimination and indifference to the needs of low-income communities. But crypto's meltdown over the past year has dealt a blow to that narrative, fueling a debate between those who continue to believe in its future and skeptics who say misleading advertising and celebrity-fueled hype have drawn vulnerable people to a risky and unproven asset class.

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