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Ethiopian born billionaire Al Amoudi to be released from Saudi prison.

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Saudi Arabia will soon release Mohammed Hussein Al Amoudi, an Ethiopian-born Saudi billionaire arrested in November 2017 during a crackdown on corruption, Ethiopia’s prime minister said.

Abiy Ahmed made the remarks late on Saturday after arriving from the Gulf kingdom, where he met Crown Prince Mohammed bin Salman during a two-day visit.



Al Amoudi, a son of a Saudi father and an Ethiopian mother who has invested heavily in construction, agriculture and mining in the Horn of Africa country, was among 11 princes, four current ministers and top businessmen detained during the swoop by a new anti-corruption body.

The incarceration of one Ethiopian is the incarceration of all Ethiopians. Sheikh Al Amoudi’s arrest is top in the agenda for all Ethiopians,” Abiy said in the capital Addis Ababa.

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“We have made the request – we are sure that he will be released very soon,” he added in a townhall-style gathering.

Saudi authorities have dismissed claims that they mishandled the anti-corruption campaign, which included the three-month detention of billionaire Prince Alwaleed bin Talal – one of the country’s top international investors.

Officials in Riyadh say most detainees have been released, after settlements that they say secured more than $100 billion from members of the elite.

On Friday, Ethiopia also announced that Saudi Arabia had agreed to release 1,000 Ethiopian nationals who have been in prison in the Gulf state for a variety of offences.

Officials in Riyadh are in the process of deporting more than 500,000 illegal Ethiopian migrants. So far, 160,000 have arrived back in the Horn of Africa country.

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Business

Absa became the new competitor on the Ethiopia market.

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Absa Bank Of South Africa’s  has become the Latest Multinational Corporation to show Interest in Organizing the Ethiopia market.

Ethiopia has since Prevented Foreign Ownership in Economic Sectors that Includes Banking but Abiy Ahmed has began to take fast Action on the issue since he came to power in April.



Jason Quinn, the bank’s chief financial officer, told reporters that Absa was investigating on how and where to enter in a number of populating market, including Nigeria and Angola.

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Am Entrance made into the Ethiopia market of 100 million People, would be part of a Scheme made by Absa after it break from Britain’s Barclays in 2017.

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Ethiopia has plans to liberalise state-owned companies including Ethiopian Airlines, Ethio Telecom, Ethiopian Shipping & Logistics Services Enterprise, and Ethiopian Electric Power, in order to attract foreign direct investment and stimulate growth.

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Motherland News

Black box of the Ethiopian Airline Crash recovered.

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The United Nations described the Sunday crash of the Ethiopia airline as disastrous saying it has cost them a great loss.



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Michael Moller, director-general of the U.N. European head garters said this was the worst loss suffered in years in Geneva in a statement where 150 people where gathered.

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Investigators in Ethiopia have recovered the black box from the ill-fated Ethiopian airline this Sunday.

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