The year on year inflation rate in Ethiopia rose to 36.3% in February from 32% in January according to official statistics revealed yesterday.
As compared to the same month last year, food prices showed an increase of 47.4% while non food inflation showed an increase of 21.4%.
The main increase in food prices was seen in the prices of fruits and vegetables, cereals, pulses and spices according to the official agency.
Add a comment Add a commentEthiopian Airlines, Ethiopia’s flag carrier, announced the launch of nonstop flights to Seychelles from Addis Ababa beginning on
the 1st April of 2012.
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.
Add a comment Add a commentEthiopia is to subcontract the management of MEWIT, Merchandise Wholesale and Import Trade Enterprise operated by the state according to sources. The move is part of efforts to stabilize the market.
The Ethiopian government has been considering multinational corporations that are experienced in wholesale distribution, such as Wall-Mart it was said.
A group of experts representing the government have been on a visit to India to review how such companies were attracted in to the market there.
Add a comment Add a commentEthiopia has exported more than four tons of hypericom flowers to the United States and is anticipating to increase export quantity and variety to the American market said Girma Birru, Ethiopian Special Envoy and Ambassador Extraordinary and Plenipotentiary to the US and non-resident envoy to Mexico.
Ethiopia has become one of the more significant flower growing nations in the world and the second largest flower exporter in Africa in just a few years following efforts exerted by the government according to Ambassador Girma speaking at the Ethiopian Flower Showcase Reception held at the Ethiopian Embassy Chancery last Saturday.
Add a comment Add a commentTikur Abay Construction SC, Ethiopia has been dissolved for persistent failure to turn a profit. Tikur Abay has incurred significant debt Wegagen Bank and the Commercial Bank of Ethiopia which are in the process of being called in as well as running at a loss for several years according to sources.
The decision to dissolve the state owned enterprise supported by government subsidies was reached by the Privatization and Public Enterprises Supervising Agency of Ethiopia six weeks ago.
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