2merkato

Car sales slowed down in Ethiopia over the last week causing major importers of used cars to marginally cut prices.

Importers say that the latest trade and tax regulations are to blame for the slowdown. Industry observers on the other hand say that the increase in production and number of importers during the last few years have contributed to the slowdown.

The Ethiopian Electric Power Corporation (EEPCo) signed yesterday power transmission project contracts worth around 330 million dollars with companies from ten countries.

Indian companies take the biggest share of the contract winning three contracts worth more than 50 million dollars. 

Among the companies which entered into agreements with EEPCo are Energoinvest DD of Bosnia & Herzegovina, ALISTOM GRID of France, ABB AG of Germany, AECOM of USA-Canada and Norinco International Limited of China.

The projects are expected to be completed within 12 to 24 months.

Coffee exports from Ethiopia rose by 38 percent in the fiscal year to 7 July 2011 as shipments of the beans jumped, the Ministry of Trade said.

In a statement released yesterday the ministry said that the total amount of coffee exported over the period reached 2.8 billion dollars.

Coffee was Ethiopia's biggest source of revenue raising 841.7 million dollars from 196,118 tonnes of beans shipped.

The Ethiopian Airlines is going to launch an Addis Ababa-Seychelles flight. The airlines will be operating one flight every week on Sundays, landing in Seychelles at 3:00 pm and departing in an hour.

Ethiopian has filed for slots to fly to the islands of Seychelles during the winter 2011-2012 schedule, which is the period starting 30 October 2011 to 24 March 2012.

The Ethiopia Airlines is one of Africa’s leading carriers, whose efficiency and operational success are not rivalled in the continent.