Latest Business Alerts

Ethiopia, S. Korea to Talk on Energy, Raw Materials

South Korean President Lee Myung Bak is scheduled to visit Ethiopia, South Africa and Democratic Republic of Congo from July 2 through July 11. The president will visit Ethiopia on July 8.

He is expected to discuss ways to expand cooperation with Ethiopia and the other African countries over various areas like nuclear power, energy and raw materials, his office said in a statement today.

Add a comment Add a comment
Read more...

Ethiopia Signs $590 Mln Loan, Grant Deal with France

Ethiopia signed a 590 million dollar grant and loan agreement with France to boost water and energy projects, as well as for the construction of electricity transmission lines with Kenya, the Embassy of France in Ethiopia said.

The agreement will enable the French Development Agency to develop water and sanitation schemes and support the management of geothermal and windmill projects.

Add a comment Add a comment
Read more...

Ethiopia Borrows €337 Mln from France

Ethiopia concluded a 337 million euro loan agreement with the government of France yesterday.

The government of France offered 70 million of the 337 million as a grant and the balance as a loan.

The money is intended to be used to finance the country’s five-year Growth and Transformation Plan, especially development programs in the energy, urban infrastructure, agriculture as well as water and sanitation sectors.

Source: Walta Information Centre

Add a comment Add a comment

Ethiopia Earns $2.4 Bln in Forex

Ethiopia has earned more than 2.4 billion dollars in foreign exchange over the last 11 months meeting 82 percent of the plan, the Ministry of Trade said while presenting this year’s performance report to the Trade Affairs Standing Committee of the House of Peoples' Representatives. 

Source: ERTA    

Add a comment Add a comment

Ethiopian Launches Flight to South Sudan

Resumes domestic, regional flights

Ethiopian Airlines announced yesterday that it had launched a new flight service to Malakal, South Sudan, effective as of 17 June 2011. Ethiopian will provide the new flight services four times a week.

The new flight service to the oil rich town of Malakal is Ethiopian’s second destination to the South Sudan and the 62nd international destination.

“The new flight services to Malakal provide the best connectivity and convenience for business people as well as the general public of the South Sudan,” Tewolde Gebre-Mariam, CEO of Ethiopian Airlines, said.

Meanwhile, the Ethiopian Airlines announced Saturday that it had resumed all domestic flights to to Axum, Bahir Dar, Gondar, Dire Dawa, Humera Jijiga Lalibela, Makelle and Shire and regional flights to Khartoum and Djibouti which had been temporarily suspended because of the volcanic ash cloud as of Monday, 15 June 2011.

The decision to resume flights was made based on meteorological forecasts which indicated that the ash cloud from the volcanic eruption in Eritrea had cleared. And the Ethiopian Civil Aviation Authority had confirmed that the northern Ethiopian airspace was now safe to fly according to Abebe Angessa, director of Ethiopian Domestic Market and Sales Service.

Ethiopian is making more than 60 domestic flights each week.

Source: Ethiopian News Agency

Add a comment Add a comment

Exchange Rates

Selling
Buying
USD 32.1711  31.5403 
GBP 40.4381  39.6452 
EUR 35.8032  35.1012 
CHF 31.2611  30.6481 
CAD 22.1086  21.6751 
AED 7.9261  7.7707