2merkato

Around 150 Sheger City Busses will start giving services in Ethiopia’s capital by May, Addis Ababa Road and Transport Bureau announced.

Contract for the purchase of 300 buses was concluded between the Addis Ababa City Administration and Metals and Engineering Corporation (METEC). The buses were purchased for 1.1 billion Birr.

ZTE Corporation today announced that is had been selected by Ethio Telecom to construct its 100G dense wavelength division multiplexing optical transport network (DWDM/OTN) backbone transmission network in the western and southern regions of Ethopia. The 100G DWDM/OTN transmission backbone network will enable faster network transmission by increasing capacity 10-fold and help Ethio Telecom develop 3G, LTE and broadband services.

During the first six months of the current fiscal year, Federal Cooperative Agency managed to set up 2,807 cooperatives that are equipped with 167 million Birr capital.

According to Usman Sirur, Director General of the Agency, the plan was to establish 2,043 new cooperatives that have a total capital of 186 million Birr. Yet the Agency managed to set up more cooperatives with a lesser capital.

Ethiopia’s Ministry of Trade announced fuel price will not change from March 8, 2016 to April 8, 2016.

The Ministry explained world price for fuel had been fluctuating making it unpredictable. Therefore, the government has decided to keep the price unchanged.

Bank Hapoalim, an Israeli bank, concluded over USD 200 million deal to finance an irrigation project in Ethiopia which is being carried out by an Israeli firm called Netfim. The project is owned by a government owned sugar company.

According to Reuters, the project covers 7,000 hectares of sugar cane. Netafim has also explained it as the firm’s largest deal ever.

Wadi Group, an Egyptian business leader, aims at increase its activities in Ethiopia’s poultry sector by establishing fattening farms and other related facilities. This was announced by Tony Freiji, CEO of the Group, on Monday, March 7, 2016.

Ethiopia’s national flag carrier, Ethiopian Airlines, bagged 3.53 billion Birr profit during the 2014/2015 fiscal year. This is a 12 percent increment when compared to the airline’s previous year performance.

Ethiopian managed to secure the profit even if the continent’s air traffic has declined during the period.

Bangladesh opened an Embassy in Ethiopia’s capital Addis Ababa. This is part of the Nation's attempt to strengthen ties with African countries.

Habesha Cement S.C. floated an international bid to buy 28 million cement bags. The bid will be closed in April and the company expects to receive the first shipment by July.

During the latest shareholders’ meeting, the company announced it would start trial production in October 2016.

Gidabo Dam and Irrigation Development project, which is 79 percent complete, will be completed by June 2016, Fana Broadcasting Corporate reported.