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Eritrea, Ethiopia signs second peace deal after border reopening

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Ethiopia’s Prime Minister Abiy Ahmed and Eritrean President Isaias Afwerki signed a peace agreement in Saudi Arabia on Sunday, the second peace deal reached since July between the once warring African countries.



The Ethiopian and Eritrean leaders signed a “joint declaration of peace and friendship” on July 9, normalizing ties between the longtime foes who waged war against each other between 1998 and 2000.

Further details of Sunday’s peace agreement signed in the Red Sea city of Jeddah and announced in a statement by the Saudi government were not immediately available.

The agreement “will contribute to strengthening security and stability in the region at large,” said Saudi Arabia’s Foreign Minister Adel al-Jubeir on Twitter.

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Abiy and Afwerki signed the agreement in the presence of Saudi Arabia’s King Salman, Crown Prince Mohammed bin Salman, and United Nations Secretary-General Antonio Guterres.

The Ethiopian and Eritrean leaders “expressed their appreciation” to King Salman and the crown prince for their support of the peace deal, the statement said.

It is not clear what role, if any, Saudi Arabia played in brokering the peace agreement reached two months ago.

Gulf neighbour the United Arab Emirates (UAE) has said it helped bring the countries together. Reuters has reported that the UAE has privately taken credit for the deal.

The Ethiopian and Eritrean leaders travelled to the UAE weeks after signing the historic July agreement to jointly meet with Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed al-Nahyan.

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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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