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Business Insider
26-06-2025
- Business
- Business Insider
A new era begins as Ethiopia welcomes foreign banks into its financial system
Ethiopia has formally opened its banking sector to international investors for the first time, marking the most major change to its financial system in decades. Ethiopia opened its banking sector to international investors, marking a historic change in its financial policy. The National Bank of Ethiopia established Directive SBB/94/2025 to regulate foreign participation in the banking industry. The decision is part of a plan to liberalize and modernize Ethiopia's financial institutions. The decision is a major part of the plan to liberalize its financial institution, and represents a historic break from the formerly shut banking sector. The statement was made by the National Bank of Ethiopia (NBE) on Tuesday when they released Directive SBB/94/2025. Following the enactment of a new Banking Proclamation intended to liberalize one of Africa's largest untapped financial markets, the directive establishes a thorough regulatory framework for foreign participation in the banking industry. International banks and financial investors can now apply for banking licenses with immediate effect, which opens the door to cooperation with local institutions or direct market entrance, as reported by AddisnInsight. Industry experts deduced that the banking sector's deregulation may attract international firms such as Standard Chartered, Ecobank, or Gulf banks, who may decide to participate through joint ventures or totally owned subsidiaries. In a sector where formal banking penetration is still around 40% in a population of over 120 million, it also lays the groundwork for increasing capital inflows, promoting technical innovation, and providing increased efficiency. While the precise dates for license approvals have not yet been disclosed, the new directive's regulatory clarity along with strong political commitment could lead to international interest and change Ethiopia's banking environment. Ethiopia announced a step toward economic liberalization in June 2024 that would let foreigners purchase shares in domestic institutions and allow international banks to set up local subsidiaries. The cabinet accepted this move as part of a larger government initiative to liberalize the economy. Ethiopia's recent plans in its banking sector With significant ramifications for investment, financial inclusion, and economic growth, Ethiopia's acceptance of this pivotal moment is a definite indication that the continent's second-most populous nation is prepared to become more completely integrated into the global financial system. In February, 2025, Genet Teshome Jirru, Ethiopia's ambassador to Russia, during an interview, disclosed that his country and Russia are trending toward doing business in their currencies.
Mint
10-06-2025
- Business
- Mint
SME stock Markolines Pavement gains 5% on bagging ₹16 crore order. Details here
Stock Market Today: SME stock Markolines Pavement gained close to 5% in the morning trades on Tuesday. The Markolines Pavement Technologies share price gains were fueled by the company bagging ₹ 16 crore order. Markolines Pavement Technologies on Tuesday 10 June 2025 made a General disclosure on the exchanges pertaining to the receipt of Work Orders from Vadodara Kim The Markolines Pavement Technologies has secured domestic orders from Vadodara Kim Expressway Pvt. Ltd for two projects for Rain Cut Repair works at its project site. In its release on the exchanges Markoline Pavement Technologies said that 'the Company has received 2 Work Orders cumulatively amounting to Rs.16,75,82,305 (inclusive of GST) from Vadodara Kim Expressway Pvt. Ltd. for Rain Cut Repair works at its project site' . While the broad consideration for one project order secured by Markoline Pavement Technologies is Rs.13,81,76,997 ( ₹ 13.82 crore inclusive of GST), the other consideration for the second order procured by Markoline Pavement Technologies from Vadodara Kim Expressway Pvt. Ltd is Rs.2,94,05,308 ( ₹ 2.94 crore inclusive of GST). This makes the total consideration of 2 work orders for Markoline Pavement Technologies from Vadodara Kim Expressway Pvt. Ltd, at Rs.16,75,82,305 ( ₹ 16.75 crore inclusive of GST) . Markoline Pavement Technologies had to complete this domestic project order for Rain Cut Repair works at the project site by 31 July 2025. Markoline Pavement Technologies share price that opened at ₹ 152.50 on the BSE on Tuesday. The SME Stock Markoline Pavement Technologies share price at the time of opening was up more than 1% over the previous trading sessions closing price of ₹ 150.65. The Markoline Pavement Technologies however jumped to intraday highs of ₹ 158 and this translated into gains of almost 5 % during the intraday trades. Markolines Pavement Technologies' stock surged as the ₹ 16 crore work order from Vadodara Kim Expressway Pvt. Ltd. for rain cut repair projects, demonstrates the potential for growth improving investor confidence in SME stock.
Mint
10-06-2025
- Business
- Mint
SME stock Markolines Pavement gains 5% on bagging ₹16 crore order. Details here
Stock Market Today: SME stock Markolines Pavement gained close to 5% in the morning trades on Tuesday. The Markolines Pavement Technologies share price gains were fueled by the company bagging ₹ 16 crore order. Markolines Pavement Technologies on Tuesday 10 June 2025 made a General disclosure on the exchanges pertaining to the receipt of Work Orders from Vadodara Kim The Markolines Pavement Technologies has secured domestic orders from Vadodara Kim Expressway Pvt. Ltd for two projects for Rain Cut Repair works at its project site. In its release on the exchanges Markoline Pavement Technologies said that 'the Company has received 2 Work Orders cumulatively amounting to Rs.16,75,82,305 (inclusive of GST) from Vadodara Kim Expressway Pvt. Ltd. for Rain Cut Repair works at its project site' . While the broad consideration for one project order secured by Markoline Pavement Technologies is Rs.13,81,76,997 ( ₹ 13.82 crore inclusive of GST), the other consideration for the second order procured by Markoline Pavement Technologies from Vadodara Kim Expressway Pvt. Ltd is Rs.2,94,05,308 ( ₹ 2.94 crore inclusive of GST). This makes the total consideration of 2 work orders for Markoline Pavement Technologies from Vadodara Kim Expressway Pvt. Ltd, at Rs.16,75,82,305 ( ₹ 16.75 crore inclusive of GST) . Markoline Pavement Technologies had to complete this domestic project order for Rain Cut Repair works at the project site by 31 July 2025. Markoline Pavement Technologies share price that opened at ₹ 152.50 on the BSE on Tuesday. The SME Stock Markoline Pavement Technologies share price at the time of opening was up more than 1% over the previous trading sessions closing price of ₹ 150.65. The Markoline Pavement Technologies however jumped to intraday highs of ₹ 158 and this translated into gains of almost 5 % during the intraday trades. Markolines Pavement Technologies' stock surged as the ₹ 16 crore work order from Vadodara Kim Expressway Pvt. Ltd. for rain cut repair projects, demonstrates the potential for growth improving investor confidence in SME stock. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Hindustan Times
18-05-2025
- Business
- Hindustan Times
Tamil Nadu's average agri growth now 5.66 pc, says govt
Chennai, Tamil Nadu's average agricultural growth, which stood at 1.36 per cent between 2012-2013 and 2020-2021, has achieved a record average of 5.66 per cent from 2021 to 2024, the state government said on Sunday. Chief Minister M K Stalin, immediately after assuming office on May 7, 2021, had announced that cultivable agricultural area will be increased. As a result of the initiatives following his announcement, the area under irrigation, which was 36.07 lakh hectares in 2020-2021, increased to 38.33 lakh hectares in 2023-2024, resulting in a remarkable increase in food production, an official release said. Under the Kalaignar All Village Integrated Agricultural Development Scheme, 47,286 acres of fallow land has been brought under cultivation at a cost of Rs.786.86 crore benefitting 51.13 lakh beneficiaries. The government underlined achievements, including the state ranking first in the country in productivity of finger millet and guava and holding the second position as regards productivity of maize, sugarcane, tamarind, tapioca, jasmine, and oilseeds. Five separate agriculture budgets have been presented, with a total allocation of Rs.1,94,076 crore, introducing and implementing several new schemes to boost agricultural production and enhance the welfare of the farming community. "Due to the proactive steps of the chief minister, the average agricultural growth, which stood at 1.36 per cent between 2012-2013 and 2020-2021, has achieved a record average of 5.66 per cent from 2021 to 2024," the government said. Priority was accorded for desilting of rivers, canals and irrigation channels, benefitting lakhs of farmers and 917 irrigation tanks across 27 districts were renovated at a cost of 1,212 crore. In order to benefit small and marginal farmers and to increase agricultural production, 814 minor irrigation tanks were also renovated at a cost of 75.59 crore, aiding agricultural development. Check dams, built across rivers, improve irrigation facilities in the respective regions. In this regard, across 24 districts, 88 check dams have been constructed at a cost of 519 crore, helping maintain groundwater levels. Milk production was 8,362 tonne in 2018-19, during the AIADMK regime. Fresh initiatives of the Dravidian model government raised it to 10,808 metric tonne in 2023-2024, which was a record achievement, the government said. The government also outlined an increase in egg production from 1,884.22 crore numbers in 2018–2019 to 2,233.25 crore in 2023–2024, an increase of nearly 350 crore. "The Dravidian model government has established 72 new fish landing centres at a cost of 1,428 crore. Additionally, the chief minister has implemented several schemes to develop fisheries in areas like Tharangambadi, Rameswaram, and Thiruvotriyur Kuppam."
Montreal Gazette
10-05-2025
- Politics
- Montreal Gazette
Quebec Liberal leadership rivals decry Bill 21 during debate
By Candidates vying for the helm of the Quebec Liberal Party criticized Premier François Legault's secularism policies at a Saturday debate focused on identity, language and immigration. The meeting was the third of six planned debates in the party's five-way leadership race, with perceived front-runner Pablo Rodriguez facing off against Marc Bélanger, Karl Blackburn, Charles Milliard and Mario Roy. Columnist Marie-Ève Doyon moderated the debate. All five contenders spoke out against Bill 21, the Coalition Avenir Québec's controversial secularism law that saw certain public servants barred from wearing religious symbols. The bill's reliance on the notwithstanding clause attracted the strongest ire. 'The notwithstanding clause is used too often. It's like a candy shop and (Justice Minister Simon) Jolin-Barette is a big eater,' Milliard quipped. The line prompted laughter from the audience and candidates, with Rodriguez having to collect himself before taking his turn to speak. Rodriguez didn't offer any direct criticism of the law's policies, instead framing it as a distraction from more pressing issues, such as the deterioration of the health system. 'Bills 21 and 94 are laws that go too far,' said Roy, referring also to a bill that would expand the ban on religious symbols further across the education sector, including to janitors, cafeteria workers and volunteers in school libraries. 'We couldn't have a more intolerant government' than Legault's, Bélanger said. 'It's religious discourse that has to be banned' among civil servants, he said, 'not religious symbols.' Doyon asked the candidates whether they would renew the notwithstanding clause on Bill 21, which must be done every five years for it to stay in place. Milliard, Roy and Blackburn all said they wouldn't, while Bélanger and Rodriguez didn't specify their positions. Candidates were also asked about Legault's proposal to bar prayer in public spaces, a proposal the premier has admitted might require the notwithstanding clause to enforce. 'It's another distraction,' Milliard said. 'We need a society where we respect people's freedom of conscience.' 'I'm at the end of my rope,' he added. 'It's not often that I'm driving, having to steer around people who are praying in the streets,' Rodriguez said. 'It's not something you see on every corner.' 'Legault is battling a fake problem to divert attention.' Roy said Legault's secularism policies point to a need for a Quebec constitution, which he said would be an 'opportunity to protect the rights and liberties of everyone.' While the other candidates don't oppose the idea, Roy is the only one who has said he would make it a priority. International students 'anglicizing the job market': Bélanger The candidates were adamant the CAQ and the Parti Québécois don't hold a monopoly over protecting the French language. Bélanger came out of the gate with a proposal to refuse work permits to international students in Montreal who don't speak French, accusing them of 'anglicizing the job market.' Other candidates said they would bolster francization funding. 'When someone knocks on the door of a French course, I want the door to open and for there to be a teacher on the other side,' Milliard said. 'French is in decline in some areas,' and has to be protected, he said. Rodriguez criticized the CAQ for its handling of francization, which has included cuts to courses and layoffs of teachers. He, too, said the French language was under threat in Quebec and called it 'the most beautiful language in the world.' Roy agreed French should be protected, but said protection measures shouldn't be taken 'against others, but with others,' promising to work with universities to improve French-language education. Blackburn said French should be seen as an asset for economic growth, pointing to demographic trends that predict a growing francophone population worldwide. 'Change the tone' on immigration: Rodriguez 'We have to change the tone' on immigration, Rodriguez said, accusing Legault of framing immigrants as a threat. 'I'm not a threat,' said Rodriguez, who immigrated to Quebec as a child. Still, he said 'a step back' was needed on immigration so necessary levels could be determined. Milliard also took a shot at the CAQ, accusing the party of 'dividing people' with immigration politics, adding he would look at the capacity of each region to take in immigrants. 'We're not responding to the promise' immigrants should expect, he said, pointing to shortfalls in housing and other services. Quebec is experiencing a labour shortage, Blackburn said, meaning companies 'need workers coming through immigration.' But he called for a fairer distribution of asylum seekers and refugees across the country, saying Quebec should take in a proportion equivalent to its overall share of the population. 'We absolutely should take in foreign workers,' Roy said, calling for an immigration system that is 'controlled and planned for the long term.' Bélanger called for Quebec to reduce the number of immigrants it takes in based on 'cold and objective' calculations. Rodriguez remains target of attacks Though the debate, like the last two, remained civil, Rodriguez still got the front-runner treatment. The former federal cabinet minister was reminded more than once of his past gig. Roy at one point interrupted his call for better cooperation with Ottawa on francization, saying 'you were in the federal government.' The next debate is planned for May 22 in Laval and will focus on public services.
