2merkato

The Chinese corporation CGCOC Hansom Group established a new company in Ethiopia which dubbed Hansom Kinfengda Manufacturing PLC and owns a manufacturing plant which produces special type of corrugated pipes. The pipes are said to be used for residential wastes, industrial wastes and water discharges.

Ethiopia’s federal legislature House of Peoples’ Representatives (HPR) approved the proposed 274.3 billion Birr budget for the coming fiscal year. The budget plan shows a 21 percent increase from last year’s approved fiscal budget.

Development Bank of Ethiopia (DBE) disclosed it has extended a total of 7.5 billion Birr loan in the 11 months of the just concluded fiscal year. Nonetheless, the target was to extend 9.4 billion Birr.

Ethiopian Investment Commission (EIC) disclosed in the 11 months of the past fiscal year 48 investment projects went operational all over Ethiopia. The projects have a total registered capital of 745 million Birr.

Mati Mutiplex Cinema disclosed it intends to expand and open branches across major state cities in Ethiopia. New cinema branches are going to be opened in Adama, Hawassa, Dire Dawa and Gonder. This is in addition to the Mekele and Bahir Dar branches which the Mati Multiplex is currently operating.

Ethiopia and Israel concluded Memorandum of Understanding (MoU) to cooperate in the realms of culture, tourism, science and technology.

Ethio – Israeli Business Forum was held on July 7, 2016 in Ethiopia’s capital, Addis Ababa. The Forum was opened with prime ministers of Ethiopia and Israel being present.

Ethiopia’s investments in health, education, social protection, and infrastructure have had a positive impact on economic development and promoting shared prosperity in the country, says 2015 Ethiopia Public Expenditure Review, a new World Bank Group report released today.

Ethiopia Roads Authority (ERA) disclosed it will commence construction of an expressway linking Adama and Awash. The expressway is going to stretch for 130 kilometers and preliminary studies reveal the project will consume 100 million Birr for every kilometer.

Nokia reopened office in Ethiopia’s capital, Addis Ababa. The office was officially opened on June 30, 2016.