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Ernst & Young Ethiopia was named a winner in the 2012 ACQ Global Awards. Global mergers and acquisitions magazine ACQ recognized E & Y as the ‘Lead Advisory Firm of the Year’ said Jake Robson, Editor in Chief with ACQ.

E & Y Ethiopia is delighted by the recognition from ACQ and feels the award validates the firm’s caliber and reputation as a notable provider of complex and sophisticated M & A services to clients across the continent said Zemedeneh Negatu, Managing Partner of Ernst and Ethiopia and Head of Transaction Advisory Services for Eastern Africa.

Winners in all categories are in effect a brand and it takes a lot time, hard work and money to build and maintain brands said Robson.

Ethiopian Airlines is to launch daily flight to the port of Berbera, Somaliland, starting in July 2012. The airline will start its service to the port city using its Bombardier Q400 aircraft. This latest addition of route to Berbera will increase the flight destination of Ethiopian to 43.

A recommencement of flights to the capital of Somalilad is delayed as the maintenance of the runway at Hargeisa Airport is still underway. Berbera is becoming increasingly important alternative sea trading corridor for the Horn of Africa region.

As part of its commitment to ICT development in Ethiopia and Africa, MTN is sponsoring the Best ICT Innovation Award during the 5th ICT Exhibition, Bazaar and Conference organized by Ethiopia’s in Addis Ababa this week.

One of the key goals of the exhibition is to bring multiple stakeholders together to share knowledge and experience, as well as foster partnerships through discussing various topics related to the ICT sector.  It will further serve to promote the importance of the sector amongst major policy makers, international bodies and relevant governmental and non-governmental organizations.

The Council of Ministers, Ethiopia endorsed 137.8 billion birr as the federal budget for the coming fiscal year. The budget is expected to cover government expenditure including a range of projects as well as to subsidy regional states according to the formula put in place by the House of Federation.

The Cabinet came to the decision after holding in depth discussions said the statement from the Office of the Prime Minister.

The budget establishes 26.8 billion birr of the total sum for the regular budget while 54.4 billion birr is assigned for the capital budget.