Latest Business Alerts

World Stock Market Plunge Evokes Recession Fears

The price of oil and other raw materials also fell sharply

The stock market plunged by more than 4 percent yesterday in its worst day in more than two years and investors flooded safe-haven investment alternatives, fearing that global economy may stumble into a new recession.

European markets have continued the steep share sell-off, with investors worried about both the eurozone debt crisis and the weak US economy.

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Microsoft Honours Techno Brain as Partner of the Year

Techno Brain, software solutions provider in Ethiopia, Kenya, Malawi, Tanzania and Uganda proudly announced yesterday that it had been awarded the 2011 Microsoft Country Partner of the Year Award for Malawi region and Independent Software Vendor (ISV), Enterprise Software Advisor and Government Partner Awards for West East Central Africa region. 

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African Mobile Ad Markets Hit 1 Bln Impressions a Month

In Ethiopia the market has been growing from February onwards 

Nigeria has enjoyed the largest growth in mobile advertising in Africa with market hitting 122 percent to nearly 1 billion impressions a month, the latest Mobile Insights Report released yesterday by InMobi, the world’s largest independent mobile ad network, said.

According to the report, trends in mobile advertising in Africa are on the rise. 

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Ethiopia Awards Power Line Contract to Bosnian Company

Energoinvest, the largest Bosnian engineering group said today that it had won a contract to build a 230 kV power transmission line in Ethiopia at a cost of 45 million dollars.

According to Energoinvest, the contract was awarded by the Ethiopian Electric Power Corporation (EEPC). The contract will be officially signed between EEPC and Energoinvest in two wekks time. The company said that the project was scheduled to be completed within two years.

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AU to Impose Air Travel Tax to Fund Bloc's Operations

The African Union said today that it was considering taxes on air tickets, imports and insurance premiums to raise funds for the 53-member bloc.

The Addis Ababa based organisation said in a statement that contributions from partners and member states were no longer adequate, sustainable and reliable to meet the Union's growing financing needs. It said that such taxes would not only have a significant revenue impact for the AU, but would also be equitable and efficient.

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