Wednesday, September 30, 2015

Russian planes did not target civilian facilities in Syria, says Spokesperson




Spokesman of the Russian Defense Ministry Maj. Gen. Igor Konashenkov said that the Russian planes did not target civilian facilities or their vicinity in Syria. Russian military jets deployed in Syria on Wednesday carried out some 20 combat missions striking at least eight ISIL targets located in mountainous regions, the Russian Defense Ministry said.

"As a result of airstrikes ammunition and fuel depots, heavy military hardware, as well as command posts in the mountainous areas have been destroyed," spokesman Maj. Gen. Igor Konashenkov said in a statement.Konashenkov added that all sorties were carried out after thorough reconnaissance and close coordination with the Syrian army. He also stressed that the Russian planes did not target civilian facilities or their vicinity.  Source ( Sputnik )


Spokesman of the Russian Defense Ministry Maj. Gen. Igor Konashenkov said that the Russian planes did not target civilian facilities or their vicinity in Syria. Russian military jets deployed in Syria on Wednesday carried out some 20 combat missions striking at least eight ISIL targets located in mountainous regions, the Russian Defense Ministry said.

"As a result of airstrikes ammunition and fuel depots, heavy military hardware, as well as command posts in the mountainous areas have been destroyed," spokesman Maj. Gen. Igor Konashenkov said in a statement.Konashenkov added that all sorties were carried out after thorough reconnaissance and close coordination with the Syrian army. He also stressed that the Russian planes did not target civilian facilities or their vicinity.  Source ( Sputnik )

Tuesday, September 29, 2015

Meskeal celebration In Ethiopia September 27, 2015



Ethiopia Christians on Sunday celebrated ‘Demera’, which is a ceremony of the Meskel – finding of the true cross, observed by torching a big bonfire.

 Meskel, is the spiritual holiday of Orthodox Christians in Ethiopia and has been celebrated for thousands of years. It has now been designated by UNESCO on the Representative List of the Intangible Cultural Heritages of Humanity.
The feast commemorates the discovery of the true cross upon which Jesus Christ was crucified, by the Empress Helena, the mother of Constantine the Great.
The inscription could enhance the visibility of intangible cultural heritage and promote inter-cultural dialogue among the multi-ethnic population of Ethiopia as well as other communities internationally.
According to legend, Helena gave pieces of the cross to all Orthodox churches, including the Ethiopian Orthodox Tewahido Church. The Ethiopian Church therefore claims to have its own piece in Gishan Mariam monastery, hidden from the public view, north of the capital, Addis Ababa.
Followers of the Ethiopian Orthodox Church observe the Meskel evey year, which last for two days, by building and burning a big bonfire, known as Demera.
In the capital Addis Ababa, followers attend Demera, the eve of the main holiday (Meskel) at the city’s main square where the large bonfire is torched by the Patriarch.
The practice is said to have originated in the fourth century with St. Helena. Following a vision that came to her in a dream, St. Helena created a huge fire, infused with frankincense and let the smoke guide her to remnants of the cross on which Jesus Christ was crucified. 
Source ( APA)


Saturday, September 26, 2015

Shake-up at Cooperative Bank of Oromia




Though the suspension letter issued,  three of the pink-slipped individuals are out of the country….

This week saw a major shake-up at the Cooperative Bank of Oromia (CBO), a stellar private bank, which for two years in a row ranked third in annual profit and shareholder return in spite of joining the industry late.
The National Bank of Ethiopia (NBE), the regulatory body of the financial sector, on Wednesday issued a letter of suspension to six individuals in the CBO's top leadership. 
Accused of mismanagement of the bank’s foreign exchange operations are Abera Deressa (PhD), Board Chairman, Tadesse Meskela, Vice Board Chairman, Wondimagegnehu Negera, President, Abebe Tilahun and Tollosa Beyene, VPs for Resources and Service Management, and Core Services Management, respectively and  Bantayehu Kebede, Director of International Banking Division.
The central bank is still probing into the alleged foreign currency mismanagement that the suspended officials have been accused of.
Before NBE suspended the top officials, three of the pink-slipped individuals in the bank's top leadership (Abera, Wondimagegnehu and Tadesse) were already out of the country, The Reporter has learnt.
According to sources, Tadesse had resigned before the suspension letter was issued. But no detailed information was obtained as to why he quit his board membership position.
NBE reportedly issued the letter this week in connection with what sources said was in violation with the foreign currency trade regulation. However, The Reporter was unable to establish an official confirmation from the central bank as to what led the regulatory body to write the suspension letter.
Subsequently, in an extraordinary meeting held on September 22, the remaining members of the board of CBO elected a new acting chairman and vice chair and appointed a new acting president and two acting VPs.
In that regard, Belachew Hurisa will serve as acting board chairman and Dagnachew Shiferaw will be his deputy. Similarly, the board has installed Muluneh Disasa as acting president while Fayera Ejeta and Gizaw Haile will serve as acting VPs for Resource and Service Management and Core and Relationship Management, respectively. Whereas, Fitsum Hawas will be acting head of the bank's International Banking Division. Fitsum was bank's Import-Export Department Head.
Belachew Hurrissa is an agricultural economist with 30-year experience in the livestock industry and is Board Chairman of Elimtu Integrated SC while Muluneh Disasa was manager of the Finfine Branch of CBO before his latest appointment.
Fayera was the head of Resource Management and Service while Gizaw has been responsible for Customers’ Account Service as well as Coordinator of Branch Services.
CBO has managed some 475.6 million birr before tax in profit in 2013/14 and the latest financial report of the bank has indicated that it amassed some 602 million birr profit for 2014/15 fiscal year.
However, the highest portion of bank’s 2013/14 profit was earned from international banking service.
It is not the the first time when top bank officials were dismissed in connection with foreign currency exchange mismanagement. A few years ago, Leykun Berhanu, the then president of Awash International Bank and Mitiku Abeshu, vice president were dismissed and charged with foreign exchange trade mismanagement.    Source ( Reporter