Latest Business Alerts

Turkey Preparing to Establish Industrial Zone in Ethiopia

Turkey is preparing to establish a Turkish industrial zone in Ethiopia's capital, Addis Ababa, according to todayszaman.com.

Speaking at the opening of the African Strategies Sectoral Evaluation Meeting in Ankara on Monday, Turkish Foreign Minister Ahmet Davutoğlu said that the Ethiopian prime minister had proposed the assignment of a plotof land for the establishment of a Turkish industrial zone in Addis Ababa.

“They [the Ethiopians] know that we don't go to Ethiopia with a passing fancy and calculations of temporary profits. We also know that they don't only offer a business opportunity but that they opened their hearts,” Davutoğlu said, stressing that ties between Turkey and Ethiopia are not only economic, but also social relations between the two countries is thriving as well.

Davutoğlu stated that, there are now 341 Turkish companies with a total investment of $3 billion in Ethiopia.

Source: todayszaman.com

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DHL: Ethiopia is a key zone for growth within Sub Sahara Africa

Ethiopia is a key zone for growth within Sub Sahara Africa, said Charles Brewer, Managing Director of DHL, during his visit to Addis Ababa, Capital reported.

“For the past three years, the East African community has sustained high GDP growth, outpacing other Sub Sahara Africa countries and weathering the global recession. According to sources like the United Nations Economic Commission for Africa (UNECA), the region is set to post an economic growth rate of 6.3 percent in 2013, up from 5.7 percent in 2012,” Brewer said.

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Qatar Airways to Launch Flight to Ethiopia

The Gulf carrier, Qatar Airways has opened reservations for its previously announced new route to the Ethiopian capital, Addis Ababa, from Doha. Qatar Airways will launch the service on September 18, 2013.

“We have been looking to fly to the Ethiopian capital Addis Ababa for some time, and extremely delighted we will be able to do so later year as new aircraft join the fleet,” said Akbar Al Baker, CEO of Qatar Airways.

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Ethiopian Air Lines Posted 2.03B Birr Profit in 2012/13 Fiscal Year

The Ethiopian Air Lines posted a record net profit of 2.03 billion Ethiopian birr in the concluded 2012/13 fiscal year. This year's profit is 178 percent higher than the 734 million birr profit reported in the previous fiscal year.

According to unaudited report made public at a press briefing on Thursday August 29, 2013, at Hilton Hotel, the Airline's operating profit has increased to 2.7 billion birr, a 165 percent growth.

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Ethiopia: MetEC to Deliver 50 Buses to Anbessa City Bus Enterprise in October 2013

Anbessa City Bus Enterprise is expecting the delivery of 50 new buses in October 2013, Fortune reported. The Enterprise ordered the the 18-metre long buses with trailers in July 2013 from the Metal & Engineering Corporation (MetEC). The purchase will cost the Enterprise 200 million Ethiopian birr.

The Enterprise placed order for additional buses following the announcement of the Addis Abeba City Administration’s plan to double bus access rate in the city by 2015.

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