Ethiopian Airlines, the fastest growing and the most profitable African airline, won the 2013 "African Airline of the Year Award" from the African Airlines Association at its 45th Annual General Assembly meeting held between 25 and 26 November 2013, in Mombasa, Kenya.
Ethiopia's state-owned Ethio Telecom said on Thursday it had selected Huawei Technologies Co Ltd, a Chinese telecom equipment manufacturer, to upgrade Addis Ababa's network infrastructure to a high-speed 4G network, Reuters reported.
The upgrade is part of a US$1.6 billion contract concluded in July and August between Ethio Telecom, Huawei and ZTE Corp., China's biggest telecom equipment makers, to expand mobile phone network throughout Ethiopia.
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Ethiopian Insurance Corporation (EIC), a state owned enterprise, reported 203.5 million birr profit during the first quarter of the fiscal year, Walta Information Center reported.
The companies earning includes general and life insurance services as well as other investments, according to Fikru Tsehaye, EIC’s Marketing and Strategic Management Directorate Team Leader.
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Work for Youth (W4Y), a regional conference which discuss labor market transitions of young women and men and higlight youth employment initiatives in Sub-Saharan Africa will be held from 3-4 December 2013 in Addis Ababa, Ethiopia, according to a press release the International Labor Organization (ILO) sent to Ethiopian News Agency.
Oromia Insurance Company (OIC) reported a 239% rise in gross profit in the 2012/13 fiscal year, Capital reported.
OIC, established about four years ago, earned 28.1 million birr profit before tax in the reported period. The company's report presented to the general assembly indicated that, the insurance company earned 20.2 million birr net profit after tax and legal reserve.
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