Lion International Bank saw a 47.6 percent rise in yearly profit after tax to 111.29 million birr, partly as a result of growth in income earned from service charges and commissions, Fortune reported.
The bank's earning from service charges and commission fees grew from 45.03 million birr to 61.21 million birr, while gains from foreign exchange dealings only increased by 4.9 percent to 27.86 million birr.
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Ethiopian Airlines maintenance facility joins a worldwide network of more than 60 facilities authorized to work on Bombardier commercial and business aircraft
Dubai, United Arab Emirates – Bombardier Aerospace celebrated its growing support network in Africa today by welcoming one of the continent’s leading carriers, Ethiopian Airlines of Addis Ababa, as yet another Authorized Service Facility (ASF) for commercial aircraft on the continent.
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Grant Thornton (GT), formed a joint venture with a local firm, AW Thomas Consulting to join Ethiopia's professional services market, Fortune reported.
GT firms in Oman and Yemen has entered into a joint venture agreement with AW Thomas Consulting to create Grant Thornton Ethiopia.
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Habesha Breweries S.C sold 66,301 shares on November 16, 2013, following the company's decision to increase its capital to 550 million birr from the current 250 million birr , Fortune reported.
The Company issued 300,000 new shares and offered its existing shareholders 200,000 of the new shares without the premium, which is asked from new buyers, Fortune reported citing Yonas Alemu, Marketing & Business Development manager of Habesha Breweries.
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The Ethiopian Trade Enterprise (ETE) is to open its first three cash-and-carry stores in Addis Abeba in the first quarter of 2014, Fortune reported.
The stores which will be named Alle Bejimla, Amharic for “wholesale is available”, will initially commence operations by supplying goods to businesses like kiosks, cafes and hotels, according to Fortune.
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