ESAT News (November 8, 2017) The serious shortage in foreign currency has stagnated the economy, the Governor of the Ethiopian National Bank says, as the country’s telecom fails to pay loans and carry out its routine operation. The Governor told the Ethiopian Parliament that the low turnover in foreign currency that the country derives from export trade has dwindled, which ...

by Engidu Woldie ESAT News (November 8, 2017) Overseas businesses owned by Mohammed Hussien al Amoudi, the Ethiopian born Saudi billionaire, who is among businessmen and princes arrested under Saudi’s anti- corruption measures, would not be affected by the crackdown that also aimed at freezing the assets of suspects, according to a spokesperson for the sheikh. But his asset in ...

ESAT News (November 6, 2017) Saudi Arabia says accounts of princes and businessmen, who are arrested on suspicion of corruption will be frozen. The announcement by the Kingdom also says money derived from corruption will be reimbursed to the Saudi state’s General Treasury. The report by Al Arabiya, which broke the news of the arrest on Sunday also said there ...

by Engidu Woldie ESAT News (November 5, 2017) Ethiopian born Saudi tycoon, Mohammed al-Amoudi, is among those arrested in Saudi Arabia as the Kingdom’s newly formed anti-corruption campaign targets princes, ministers and several other officials and businessmen. Reuters listed 17 princes and officials and Mohammed al-Amoudi’s name was also mentioned as one of the businessmen arrested. ESAT cannot immediately verify ...

ESAT News (November 3, 2017) Authorities in Addis Ababa are conducting an investigation into a 4 star hotel and other properties that are allegedly owned by Bereket Simon, a leading member of the ruling party who recently resigned from his post as deputy head of the Ethiopian Policy Research Institute, according to ESAT sources. The investigation has specially zoomed in ...

ESAT News (November 3, 2017) An attack masterminded by Ethiopian regime intelligence and security which was aimed at diplomats visiting a mega hydroelectric dam has failed as two of the soldiers tasked with the mission have disappeared, according to ESAT’s intelligence sources. According to the sources, the mission was to carry out an attack with no harm to anyone and ...

by Engidu Woldie ESAT News (November 3, 2017) Reports by media outlets including Al Jazeera, Associated Press and the BBC that there were 28 deaths in protest staged by students of an Islamic school in Asmara were scoffed at by senior Eritrean officials and other Eritrean groups. Al Jazeera, Associated Press and the BBC on Wednesday reported quoting a Facebook ...

ESAT News (November 2, 2017) Hundreds of Ethiopian migrants in Libya who escaped political persecution back home have called for help from compatriots and the international community as they are in wretched conditions. The over 200 Ethiopians are stranded in Libyan deserts and are at the mercy of smugglers and armed bandits, according to those who spoke to ESAT on ...

ESAT News (November 2, 2017) Hundreds of Ethiopian troops have crossed into Somalia to help new offensive by the Somali government against Al-Shabaab militants. The VOA report quoted residents in the border town of Dolow, in Somalia’s Gedo region, as saying that they saw at least 30 vehicles carrying Ethiopian troops crossing into Somalia late Tuesday. The locals estimate that ...

ESAT News (November 1, 2017) A cassation bench with the Ethiopian Supreme court has reportedly overruled an earlier decision by the court to grant bail to Bekele Gerba, a leading opposition figure incarcerated for over a year and half on charges of terrorism. The court over the weekend granted bail to Gerba as per the defense request that his charges ...