2merkato

The Federal Transportation Authority has announced that long distance bus services will be required to color code their vehicles as of the 10th of November. The vehicles will be coded according to their service level.

Bus Owners have been given enough time to paint their vehicles according to specifications said Birhane Zeru Deputy Chair of the Federal Cross Country Public Transport Associations Coalition. Many owners have already completed the process which will cost about 20,000 birr he said. 

The Ethiopian Sugar Corporation announced plans to raise national sugar production from 300 thousand to 2.25 million tonnes annually. The corporation has begun extensive efforts towards increased sugar production according to Yilma Tibebu Corporation Public Head.

Expansion projects have begun at Metehara, Wonji Shoa, Methera sugar factories to increase sugar production according to Yilma. The increase in production hopes to meet demands for sugar in the local market as well increasing exports to the global market.

The Ethiopian Textile Industry Development Institute announced that it has earned 27.2 Million US dollars from textile exports. The Institute earned this revenue in the first quarter of the current fiscal year.

The revenue is 87% more than the target set for this period according to a press statement made by the Institute. The revenue is also 18.6 million US dollars more than the amount earned in the same period last fiscal year.

Eyesuswork Zafu has retired from his 17 year tenure as Chief executive Officer of United Insurance. The CEO hass been seeking retirement for the last three years. 

The shareholders and the board of the insurance have decided the former CEO will continue on with the company in the capacity of an advisor.