World Bulletin / News Desk
Ethiopia's coffee exports have declined in the last ten months, the Ethiopian Trade Ministry said on Friday.
In a report, the ministry said that Addis Ababa had exported 136,000 tons of coffee worth $489.28 in the last ten months, compared to $576.819 in the same period last year.
According to the trade ministry, coffee exports declined by 8.79 percent and revenues by 15.8 percent in the last ten months compared to the same period of 2013.
The ministry cited power disruption, delay in business deals and market price fluctuation for the decrease in coffee exports.
Ethiopia is a major exporter of coffee in Africa.
Ethiopian coffee exports account for around 3 percent of the global coffee market.
The biggest market for Ethiopian coffee is Germany, which imported $95.75 worth coffee during the last ten months, according to the ministry report.
Saudi Arabia was the second largest market for Ethiopian coffee followed by the United States, Belgium, Sudan and Britain.
Italian company Enel will invest 18 billion euro for renewable energy sources in Africa.
Azerbaijani president said in a statement that Southern Gas Corridor project will supply neighboring and European countries for a 100 years
Oil prices rose above $60 due to Iran's call for oil production cut
Economic growth in the Euro-Zone is not at desired levels.
Director and Global Head of Islamic Finance at Standard & Poor's says that growing market for sukuk and new players mark 'significant interest' in Islamic finance.
The Ministry of Finance said that Denmark has written to China to "announce its intention to apply to be a founding member" of the AIIB.
Experts state that the crisis poses risks to the region, which is significant for oil production and exports in the world.
Federal Reserve removes word 'patient;' interest rate increase expected within months. Yellen says timing of rate rise 'not decided,' but will come anytime after April; holds current rates at 0 to 0.25 pct.
Many emerging-market currencies have fallen against the dollar in recent weeks
Anticipated Federal Reserve interest rate hikes making dollar strong against most emerging market currencies, Deputy Prime Minister Ali Babacan says.
European Statistical Agency says slight decline fuelled by drop in production of durable consumer goods.
EU will use all its foreign policy instruments to establish strategic energy partnerships with producing and transit countries.
Dollar strength and waning investor confidence are driving the lira lower
Greece has already received two bailouts totalling 240 billion euros but fellow euro zone member Ireland said last week that it would have to negotiate a third programme.
The Ukraine crisis has tested the loyalties of Bulgaria, a Balkan country with historical ties to Moscow and heavily dependent on Russian energy supplies.
Syria expels three United Nations aid workers hindering aid development in the country