2merkato

The Bole International airport, Ethiopia Revenue and Customs Authority lost an estimated 30 million birr in revenue to fiber optics network failure that lasted for two days last week.

The optical fiber network failed for the second time in 50 days due to alleged damages to the lines around the Bole Michael area according to sources.

A similar problem that occurred at the beginning of the month of February had shut down the Customs office for three days resulting in an estimated loss of 40-50 million birr in revenue.

Norwegian company, MEC AS, Magnetic Emission Control, engaged in emissions reduction and fuel efficiency technology, signed a dealer contract with QOPH Engineering Enterprise in Ethiopia.

The agreement establishes that QOPH will engage in long haul tracking concerns, construction equipment, transport and earth moving.

The deal is part of MEC plans to expand into the Middle Eastern and African Region according to Bjorn Skjervold, Chief Exceutive Officer of MEC.

A delegation of British business people held talks with representatives of Ethiopia’s business sector to explore opportunities for commerce in both countries.

The delegation, made up of 10 representatives from London met with more than 30 Ethiopian business representatives.

The discussions held with the delegation from the UK will promote the flow of information, enhance knowledge development, promote the transfer of skills and technology and strengthen confidence for bargaining as well as removing barriers against business interaction according to Teferi Asfaw, Deputy Secretary General of the Addis Ababa Chamber of Commerce and Sectoral Associations.

The Privatization and Public Enterprises Supervising Agency approved the bids made by MIDROC Ethiopia and affiliated companies for five of the eight companies up for privatization.

The approval from the agency was announced last week at the same time the agency declined the offer made for Awash Winery and withheld making a decision on offers for two other companies.

MIDROC Ethiopia and affiliated companies, Horizon Plantation Ethiopia, National Mining Corporation and Saudi Star Agricultural Development, proffered the highest bids for five of the eight companies put forward for auction by PPESA.