2merkato

The year on year inflation rate in Ethiopia has dropped to 12.9 percent, according to data revealed by the Central Statistics Agency. The data showed that this was the lowest the inflation rate had been in the last year.

The year on year inflation rate fell from 15.6 percent in November, following a trend downwards from the 36.3 percent peak in February noted the statistics agency.

Food price inflation fell from 13.4 percent in November to 11.8 percent year-on-year in December while non-food inflation dropped  from 19.4 percent to 14.6 percent. Add a comment Add a comment

The Ethiopian Standard Agency announced that it has approved 794 new and revised standards. 13 out of the total number of standards approved by the agency are intended to enforce standards for canal pumps while others are designed to regulate the construction, and textile sectors said Daniel Zenebe, Head of Communications and Public Relations with the agency.

The Ethiopian Standards Agency replaced the former Quality and Standard Authority of Ethiopia when it was officially recognized by the Ethiopian government as the national body for standards.  It performs the role of the Ethiopian Standards body for the Ethiopian government. Add a comment Add a comment

Domestic Ethiopian Petroleum vendor Yetebaberut Beherawi Petroleum announced profits lower than what it had earned in the previous fiscal year.

The petroleum company reported 5.5 million birr in net profit for the last financial year at the annual General Assembly of Shareholders held at the Hilton Hotel. The profit it reported was 12.5 million birr lower than the 18.7 million birr it had declared for the year before.

YBP retailed 262.1 million liters of petrol and 1.72 million liters of oil from which it collected 4.5 billion birr. The total sales of the company showed an increase of 31 percent (1.5 billion birr) from its performance in the previous year. Add a comment Add a comment

Ethio Telecom is to change it logo to one that better expresses the company and reflects its role in the country said Dr. Debretsion Gebremichael, Deputy Prime Minister and Minister of Information and Communication.

The current logo introduced early last year is also similar in design although different in color to the logo used by European company, Euroclean which makes the change desirable he noted.

The similarity in design is probably the most important reason why Ethio-telecom is changing its logo according to sources. Add a comment Add a comment