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Ethiopian
ministry of revenue prepares to pass descriptive
law on Tax lift on food costs
By Dereje Berhanu
ADDIS ABABA, Ethiopia- The Ethiopian Federal inland
revenue Authority (FIRA) is making preparations
to pass a law that would elaborate the recent tax
lift on food items, it is to be remembered following
price hikes on food items across the nation the
Ethiopian government had lift value added tax and
turn over tax on food items across the nation. Read
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Persecutor
open files on 21 suspects over Ethiopia’s
gold scandal
By Dereje Berhanu
ADDIS ABABA, Ethiopia- The Ethiopian Federal ethics
and anti corruption commission has finished investigations
and forwarded the file to the the public prosecutor
on the notorious gold gate scandal that has griped
the country following reports of a massive fraud
committed on the Ethiopian National Bank by businesses
and employees of the bank. Read
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Petram
PLC introduce three different sizes MAGGi food seasonings
to Ethiopian market
By Dereje Berhanu
ADDIS ABABA, Ethiopia- The Maggi culinary brand
has announced that it would introduce three new
lines of Maggi seasoning in addiotn to its chicken
tablets in attempt accommodate budgets of all Ethiopians
households. Read
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ZITF
scheduling threatened by Zimbabwe’s uncertain
political climate
By Wilson Watson
HARARE, Zimbabwe- One of Africa’s biggest
trading event the- Zimbabwe International Trade
Fair- that is set to begin in two weeks time is
hanging in the air due to the uncertain political
climate in the country that have been caused by
the late release of presidential results.
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Ethiopian
airlines to fly to Kuwait, Riyadh
By SSI staff
writer
ADDIS ABABA, Ethiopia- Ethiopian Airlines, the national
airline for Ethiopia, has said it plans to launch
flights to Kuwait and Saudi capital Riyadh from
June of this year. Read
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Microsoft
introduces new software solutions for Ethiopian
market
By Samson Haileyesus
ADDIS ABABA, Ethiopia- Microsoft, the software giant
earlier this week has announced that it has launched
three new software solutions to the Ethiopia market.
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Ethiopian
gov’t inks deal with National cement share
company mine gypsum and pumice
By Derege Berhanu
ADDIS ABABA, Ethiopia- the National Cement Share
Company this week signed an agreement with the Ethiopian
ministry of mines and energy to mine for Gypsum
and pumice. Read MOre>>> |
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Commercial
Bank of Ethiopia auctions off Mina building
By Derage Berhanu
ADDIS ABABA, Ethiopia- Mina building, an 11 storey
building erected on a 3,000 square meter plot of
land, owned by Mina trading located on the Ethio-china
friendship Avenue, which was put as collateral to
secure a 31 million Birr merchandise loan, half
of what Tis Abay had taken from the Commercial bank
of Ethiopia (CBE) as loan in 1997. Read More>>>
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Lufthansa
posts record profits in 2007
By SSI staff writer
ADDIS ABABA, Ethiopia- Deutsche Lufthansa AG posted
record figures for profit and revenue in 2007 for
the second year in a row. Read More>>>
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Rx
for Africa to launch anti-retroviral drugs in Ethiopia
By Dereje Berhanu
ADDIS ABABA, Ethiopia- Dr. Mulugetta Bezzabeh, CEO
of RX for Africa (Ethiopia) PLC, in an exclusive
interview with SSI, has announced that his pharmaceutical
company is set to start producing anti-retroviral
drugs in Ethiopia and is in the process of producing
HIV/AIDS drugs Rx for Africa (Ethiopia) PLC, is
an Ethio-American pharmaceuticals In addition it
is set to build a pharmaceutical laboratory on a
300 square meter plot of land for the production
anti-retroviral drugs, with a staff of seven scientists
who have already started work some four month ago.
Read
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South
Africa, Indonesia to work toward essential air link
By Michael Appel
PRETORIA, South Africa - President Thabo Mbeki and
his visiting Indonesian counterpart, Dr Susilo Bambang
Yudhoyono, have agreed that establishing an air
link between the two counties will be mutually beneficial.
Read
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Ethiopian
Roads Authority inks 150 million USD contract
with Korean firm Keanganam
By Derege Berhanu
ADDIS ABABA, Ethiopia- the Ethiopian Roads Authority
on Wednesday Feb. 20 signed an agreement with
the Korean firm Keanganam Enterprise Ltd. for
the upgrading of two roads, the Jimma-Bonga Junction
and the Bonga-Mizan Junction. Both contracts amount
to 1.4 billion birr [~15.7 million USD].Read
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bmi
officially launches route to Addis
By Alemayehu
Seife Selassie
ADDIS ABABA, Ethiopia - A Star Alliance Member airline,
bmi, has officially inaugurated its service in Addis
Ababa this week. The airline, which has been operational
in Ethiopia as of October 2007, has had five flights
from Addis Ababa to London Heathrow. Read
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Operators
to market Kenya at the world tourism fair
By Kenneth Oduor
NAIROBI, Kenya, Kenya’s tourism industry has
been for the last five years the country’s
top foreign exchange earner, raking in billions
of dollars to the Kenyan economy. But things have
changed, with the industry taking a serious nose
dive in the last few months.
Read
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Ethiopian
Diaspora Business convens
By Christopher
Ogwanglia
ADDIS ABABA, Ethiopia- The Ethiopian Diaspora Business
Conference was held in Addis Ababa on Wednesday
of this week bringing together foreign intellectuals
and Ethiopian Diaspora groups who have come up with
the intention of investing in different sectors
back at home in Ethiopia.
Read
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Coca
Cola to increase production by 40% next month
By Alemayehu Seife
Selassie
ADDIS ABABA, Ethiopia – The East African Bottling
Company that has been going through a serious production
up lift, is going to increase production by 40 percent
starting from September 1st, 2007. Read
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Kenyan
oil dream takes blow with oil company leaving
By Kenneth Oduor,
NAIROBI, Kenya- Kenya’s dream of being a producer
of oil was given a major blow as one the Australian
oil companies that have been searching for oil exploration
wells in the country pulled out. The Australian
oil firm, Woodside Petroleum pulled out its equipment
from the country’s coastal region where it
has been prospecting for oil. Read
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Traditional
crafts bazaar wraps in Addis Ababa
By Nebiyu Yonas
ADDIS ABABA, Ethiopia- A textile handloom and other
crafts exhibition and bazaar took place in the Guellele
sub-city of Addis Ababa which lasted for five days,
from August 25- 29, 2007.
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Opposition
blames government for the rise of inflation in Ethiopia
By Simegnish Yekoye
ADDIS ABABA, Ethiopia - Coalition for Unity and
Democracy (CUD) party blamed the Ethiopian government
for the current inflation in Ethiopia saying explanations
given by the government are clear indications of
the government’s inability to identify the
cause of the current inflation. Read
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Double
decker tourist buses to launch in Addis
By Hallelujah Lulie
ADDIS ABABA, Ethiopia-The first two modern open
top, double decker tourist buses will arrive in
Addis at the end of August starting operation before
the new Ethiopian millennium, Habesha City Tour,
a part of Habesha Cultural Center told SSI.
Read
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Federation
calls for the formation of regional employers’
federation
By Hiowte Derbew
ADDIS ABABA, Ethiopia -The Addis Ababa employers’
federation has called for the formation of regional
employers’ federations to play their roles
of both creating opportunities of work for many
Ethiopians and bringing about social justice.
Read
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EEA
envisages establilshment of African Economists Association
By Hiwote Derbew
ADDIS ABABA, Ethiopia- At the launching of African
Economic and business summit project, that aims
at organizing a forum for Africans to discuss political,
economic, biusness and social issues during the
Ethiopia Millennium, the Ethiopian Economic Association
(EEA) said that it is planning to form an African
economists association. Read
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Federal
high court releases owner of Africa jewelry
By Hiwote Derbew
ADDIS ABABA, Ethiopia- The Ethiopian Federal High
Court released on Monday the owner of Africa Jewelry,
Daniel Mekonen who was sentenced to five years in
prison and fined one million birr for selling 46.96
kg of gold nuggets without the authorization of
the Ethiopian National Bank. Read
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QSAE
gets int’l calibration accreditation certificate
By Hiwote Derbew
ADDIS ABABA, Ethiopia- The Ethiopian Quality and
Standard Authority (QSAE) has received an international
accreditation certificate for its calibration laboratory
in the field of mass and temperature in accordance
with ISO 17025, from the German accreditation body
for calibration laboratories DKD, which is the first
of its kind in the country. Read
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Astar
advertising eyes marketing in Africa
-Says first Ethiopian multinational company
By samson haileyesus
Addis Ababa, Ethiopia- in an attempt to break new
grounds in the field of advertising, social communication
and brand consulting Astar advertising, was launched
this week in Ethiopia with the aim to bring in global
experiences to Ethiopia.
Read
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Addis
to see 46 new road constructions in coming year
BY Hiwote Derbew
ADDIS ABABA, Ethiopia- Mr. Fekadu Hiale, General
Manager Addis Ababa city administration road authority,
announced that 33 new road constructions have been
planned to be given to different contractors with
the coming fiscal year with an investment outlay
of 3.17 billion birr[~USD345 million]. Read
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Regional
bank to fund SMEs in East Africa
By Kenneth Oduor
Nairobi, Kenya- Small and Medium Enterprises (SMEs)
within the East African Community member countries
have a reason to look forward to a bright future.
They will be receiving funding to the tune of 30.5
million USD from the East African Development Bank.
Read
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CRBC
and SURE-GITTO win road projects
BY Hiwote Derbew
ADDIS ABABA, Ethiopia- The Ethiopian Road Authority
has awarded Mille Chifra -Allewuha, 164.5 Km, Road
upgrading project in North East part of Ethiopia
to China Road and Bridge Corporation of China (CRBC)
and SURE-GITTO Joint venture.
Read
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Counterfeit
money causes violence in Puntland-Government leadership
blamed for the cause
By Faysal Gabanow
ADDIS ABABA, Ethiopia- Hundreds marched the streets
in Puntland capital to protest the rising inflation
in the region; the highest in years where the living
costs have doubled, threatening the life of many
poverty stricken people. Read
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Ethiopian
delegation wraps up visit to Somaliland
By Moha
Dahir Farah Jire
HARGEISA, Somaliland- The Ethiopian delegation led
by Juneydi Sado, minister for transport and communication
ended its week long mission that including evaluating
the 12 months the Berbera Corridor Project. Read
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Japan
to increase aid funding by 35% in five years
By Hiwote Derbew
ADDIS ABABA, Ethiopia- The government of Japan announced
yesterday that it has planned to scale up finance
sourced aid to Ethiopia that will be channeled through
different development activities, by 35% with in
the coming five years. Read
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LCDs
in tight spot unless their technology gap tightens
By Simegnish Yekoye
ADDIS ABABA, Ethiopia - Least Developed Countries
(LCDs) will not be able to catch up with the rest
of the world unless they acquire knowledge and technology,
the United Nations Conference on Trade and Development’s
(UNCTAD) report warned yesterday, Thursday July
19, 2007. Read
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