2merkato

A new study proposed that the 10 percent excise tax imposed on imported textile products be lifted.

The study also suggested that separate taxes be imposed on finished and partially finished textile products replacing the indiscriminate 35 percent tax.

The proposal was made following a study by the association of textile producers in collaboration with concerned government bodies.

Results of the study indicated that the association and the government had reached a common understanding that it was not right that all kinds of textile products should be taxed uniformly, Sleshi Lemma, director general of the Institute of Textile Industry, said.  

Ethiopian Airlines entered into a code share agreement last week with Asiana Airlines, the award winning South Korean airline, to enhance the growing cooperation with Star Alliance member carriers.

The Ethiopian Airlines said that the partnership between Ethiopian and Asiana would provide passengers of both airlines with greater flight options and better connections between Africa and Asia.

A delegation of about 30 Indian companies led by Karuturi, the world's largest flower producer, last week expressed interest in investing in the agro business sector in Ethiopia.

Indian companies have so far invested about 5.5 billion dollars and Karuturi said that the newly coming Indian investors would significantly push up the figure.

Karuturi is currently engaged in farming flower, palm oil, rice and maize on 100,000 hectares of land in the Gambella Regional State and Bako in the Eastern Wollega Zone of Oromia Region.

Eyesuswork Zafu, veteran insurer, said last week that he would retire within two months from his position as the CEO of United Insurance. He has been the CEO of the insurance company for the last 17 years.

Eyesuswork, who is also the president of the Ethiopian Chamber of Commerce and Sectoral Associations, has been considering retirement from the insurance company for the last three years.

He said that although he would retire soon, he would continue to serve the company in the capacity of a councillor and an advisor. “As personal connections still matter in the insurance industry, I will be there to assist the company’s business.”