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Ethiopia Signs Double Taxation Agreements with Four Countries

Ethiopia signed Double Taxation Agreements with four countries; China, India, Egypt and Sudan.

The agreements were presented to the House of Peoples’ Representatives for approval with the agreements expected to become active once they are ratified by the House.

The agreements will protect investors from double taxes on the same declared income thus enabling business from China, India Egypt and Sudan to pay income tax only once according to the Ministry of Finance and Economic Development.

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Inflation in Ethiopia Slows to 32.5% in March

The annual inflation rate in Ethiopia slowed to 32.5% in March from 35.3% in February announced the Central Statistics Agency.

Food prices rose by 40.9% in March as compared to the same time last year, which is lower than the 47.4% increase seen in February. Non food inflation also eased rising 20.4% year on year as compared to 21.5% the month before.

Consumer prices month on month rose by 4.6% in March from 2.7% the previous month according to the report from the agency.

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Ethiopian Quality Awards to Honor Nine Organizations

The Ethiopian Quality Awards organization will honor nine organizations selected for excellence in Ethiopia. The award ceremony will be held on Sunday April 8 at the Addis Ababa Hilton Hotel.

The nine organizations to be awarded the excellence trophy will be announced on the day of the event said Dr. Admasu Tsegaye, Board Chairman of EQA.

150 organizations expressed an initial interest in the competition this year and took application forms he noted. The competition was open to those in manufacturing and construction sectors as well as both for profit and non profit service providers.

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Ethiopian Airlines Launches Flights to Seychelles

Ethiopian Airlines, Ethiopia’s flag carrier, launched non stop flights from Addis Ababa to Seychelles as of the 1st of April.

The airline is pleased to begin services to Seychelles famous for its beauty and the home of two UNESCO designated World Heritage Sites; the world’s largest raised coral atoll and Praslin’s Vallée de Mai, said to be the site of the original Garden of Eden according to Tewolde Gebremariam, Chief Executive Officer of Ethiopian.

The Ethiopian Airlines flights between Ethiopia and Seychelles will be mutually beneficial said Alain St. Ange Seychelles’ Minister for Culture and Tourism.

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Roots of Ethiopia launched

A website, www.rootsofethiopia.com, designed to showcase and promote various community products for tourism was launched at the Radisson Blu Hotel.

The website is intended to support the plans to make Ethiopia a notable tourist destination said Tadelech Dalecho, State Minister for Culture and Tourism at the launch.

The Ministry is committed to collaborate with stakeholders in the sector to implement the Tourism Policy which seeks to make Ethiopia amongst the top 5 tourist destinations in Africa by 2020 she said.

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