18November2017

The inequitable distribution of income is present at the global level where the nominal gross domestic product (GDP) of the top ten economies adds up to 65 percent of the world’s economy, and the top 15 economies add up to 75 percent. The remaining 172 countries constitute only 25 percent of the world’s economy.

Here’s the list of the top ten economies based on the criteria of GDP, current prices (US dollars) which is simply known as nominal GDP. The rankings differ if the same list is prepared using the GDP based on purchasing-power-parity (PPP). As a general rule, developed countries have a smaller gap between their nominal GDP (i.e., current prices) and GDP based on PPP, while the difference is greater in developing countries, which tend to have a higher GDP when valued on purchasing-power-parity basis.

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The African Union bade farewell to Africa’s longest serving diplomat, Ambassador Konjit SineGiorgis of Ethiopia, on Monday (November 16). Ambassador Konjit who started her diplomatic career a year before the establishment of the Organization of African Unity (OAU) on May 25, 1963, was given a colorful farewell party, prepared over several months by the East African Group and the African Union Commission.

The Chairperson of the African Union Commission, Dr. Dlamini Zuma, the Foreign Minister of Ethiopia, Dr. Tedros, former State Minister of Foreign Affairs of Ethiopia, Ambassador Berhane Gebre-Christos, and many other distinguished Ambassadors and diplomats in Addis Ababa attended the occasion. In the early days of her career, Ambassador Konjit served as an officer in charge of decolonization affairs in the Ethiopian Permanent Mission to the UN in New York. Later, she became Ethiopia’s Permanent Representative to the OAU, and eventually to the AU, and contributed her share in the transformation OAU to the AU.

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Ethiopian Airlines is pleased to announce that it will operate an All-Women Functioned Flight on November 19, 2015 on the Addis Ababa - Bangkok route. This historic flight is aimed at crystalizing Ethiopian corporate conviction of “Women Empowerment for a Sustainable Growth” and it is the first of its kind in Ethiopian 70 years of service. This historical flight will be operated by an All - Female crew led by Female Flight deck crew members and senior female executives onboard that flight. On ground Flight preparations will also be conducted by females only such as Cabin Operations, Airport Operations, Flight Dispatcher, Load Controller, Ramp Operations, On-board logistics, Aviation Safety and Security, Ticket Offices, Catering, Air Traffic Controllers as well as Global Call Center.  Sourcediretube.com

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By Thomas Page, for CNN

Moon close-up taken by Entoto Observatory telescopes.(CNN)For young people there is no limit, and in Addis Ababa dreams fly about classrooms with as much abandon as anywhere else in the world.

Seventeen year-old Meron Mekonnen wants to be a particle physicist. Demekel Demto a rocket scientist. Dagem Teresse is interested in inventing things and wants to become a robotics engineer.

Mekonnen is quick to note that Einstein was young when he published his Theory of Relativity, a 26 year-old university student. A single equation of his "changed the history of science," she points out: "I have plenty of thoughts..."

Today's youth are always told to reach for the stars. But thanks to the country's first space observatory, some Ethiopians might just get there.

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The fourth annual AWiB event to celebrate outstanding female Ethiopian leaders

Addis Ababa, Ethiopia - The Association of Women in Business (AWiB) hosted a press conference to showcase the upcoming 2015 Women of Excellence Annual Dinner and Gala. The press conference was held on October 13, 2015 at AWiB resource center Seleshi Sehen Building 8th floor and gathered participants from the private and government media organizations, AWiB leadership as well as the 2014 WOE Trehas Mezgebe - Founder and CEO of, Mujujegwa Loka Women's Development .

The Women of Excellence Annual Dinner and Gala, hosted by AWiB, is the foremost celebration of leadership and contribution by Ethiopian women. Each year, AWiB celebrates the dedication, ingenuity and achievement of amazing Ethiopian women, one of which will take the title of AWiB 2015 WOE. The nominees are chosen for their vision, proven record of success, courage and compassion as demonstrated by how they have helped other women succeed. The evening is fully dedicated to celebrating their lives and work.

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By Shoshanna Delventhal | Updated September 22, 2015AAA | 

In our data-driven age, businesses know their markets more fully than ever before. And now, with the growth conscious consumerism, corporations must evolve or lose ground to new, ethos-bases entrepreneurial models.

OUTDATED BUSINESS IDEALS

The industrial revolution kick-started today's global economy, scaling corporations to capacity. But, at the dawn of a new era, the same, multinational conglomerates face a backlash against their monopoly power, as well the growing, worldwide demand for ethical and sustainable business models.

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A couple of years ago, articles about Teff flooded the internet and major news agencies. Talking about the content of this highly nutritious seeds, many even rated it above Quinoa, the Andean grain that took on the world few years ago. Teff was now the super grain. Packed with calcium, iron, fiber and protein and with its gluten free composition, it was the new grain to substitute wheat and its kind. But still, it felt short from being a household name, especially in Northern America. If you'd ask any American household about Quinoa they would know what it is, but Teff was still fairly new to many. It is true some companies have found the lucrative market making bread and cereal with Teff and have been selling the readymade food items online, but not as much. Apart from finding the Teff flour by itself at Whole Foods or at various Ethiopian Stores, there is hardly anything made with it and no big market. Evidently there is Injera, the flat spongy bread found in many Ethiopian restaurants, used to scoop up all the delicious sauces and meat, but nothing that expands beyond that.

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The U.S. dollar is no immediate danger of losing its reserve currency status. Some financial commentators continually predict the loss of the U.S. dollar as the main international reserve currency. Critics cite the attempt of China to push its yuan to reserve currency status. They also say that U.S. quantitative easing and large budget deficits will ultimately have the effect of cheapening the dollar so that it is no longer the reserve currency.

Despite these predictions of the U.S. dollar's demise, the doom and gloom never seems to pass. Instead, the U.S. dollar has strengthened significantly during 2014 to 2015 in the wake of economic headwinds in Greece, China and other places around the globe. At this point in time, it appears the calls for the death of the dollar are unfounded.

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Five years ago, the Development Bank of Ethiopia (DBE) announced that it planned to give out a large amount of loans to the manufacturing sector, which faced a lack of finances for years. Despite these stated efforts, many local investors argue that they’ve had difficulty in accessing finances. They say that the Bank is plagued by bureaucratic inefficiencies and that it tends to favour foreign investors. In fact, a closer look at the nine-month report of the Bank from the just-ended fiscal year shows that DBE had disbursed only 54Pct of what it planned. They claim that unsettled land issues of loan applicants, and their limited capacities to upfront 30Pct of the equity they need to get 70Pct financing were the major reasons for the Bank’s weak loan disbursement. DBE leaders say policy hurdles that the Bank faces, i.e., the limitation it not accept requests from Small and Micro Enterprises, have contributed to the reasons why a large sum of money has been idle this fiscal year. EBR’s Fasika Tadesse spoke with Bank officials and local investors to write why more than four billion birr was not disbursed to those who need it. 

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AWiB would like to proudly acknowledge its partners for the year.

2015-2016