2merkato

Year on year inflation rate of Ethiopia has dropped to 7.4 percent in April from 7.5 percent in March.

National Bank of Ethiopia (NBE) disclosed aggregate capital of banks in Ethiopia has increase by 19 percent during the 2014/2015 fiscal year.

In the aim of increasing Ethiopia’s benefit from tea and coffee, Ethiopian Coffee and Tea Development and Marketing Authority is re-established. The re-establishment took place following the promulgation of a proclamation in December.

Addis Credit and Saving Institution (ACSI) disclosed it extended 1.4 billion Birr loan in the first 9 months of the current fiscal year.

Ethiopia will start the construction of 4 industrial parks late this month. The announcement was made by Board Chairman of Ethiopian Industrial Parks Development Corporation, Arkebe Equbay (Dr.).

Tigray State of Ethiopia disclosed it collected 2.6 billion Birr in the first 9 months of the current fiscal year. The money was collected from tax and non-tax revenues.

Sri Lanka is going to establish a diplomatic mission in Ethiopia’s capital Addis Ababa where African Union (AU) is sited.

2 mining companies concluded extraction agreements with Ministry of Mines, Petroleum and Natural Gas (MoMPNG) on April 27, 2016 to mine in Ethiopia. The companies are Letto Mining Ltd and Lozbez Mining Plc.

Ethiopia’s federal legislature, House of Peoples’ Representative, discussed a draft proclamation to establish an independent body that will be bestowed with an exclusive power to conduct investigation on aircraft accidents and incidents.

Ethiopia’s Ministry of Foreign Affairs (MFA) signed a Memorandum of Understanding (MoU) with Eastern and Southern African Trade and Development (PTA Bank) for the later to establish regional office in Addis Ababa.