2merkato

Tsehay Insurance S.C. has reported 11.6 million Birr profit after tax, a 185.7% increase from last financial year, Fortune reported. Accordingly, the company's earnings per share (EPS) have almost doubled to 32 Birr.

The Ethiopian Airlines Aviation Academy (EAAA), a full ICAO TRAINAIR Plus member and IATA authorized global training center, graduated 14 pilots, 53 Aviation Technicians, 38 Marketing Agents and 38 Cabin Crew at a ceremony held at Ethiopian Airlines Headquarters on Monday 25 January 2016.

Ethiopia earned over USD 1 billion from export trade in the past five months of this budget year, Walta Information Center reported.

Ethiopian Airlines and IOCC Consulting are now in the final stage in concluding a long-term agreement between the two companies. The initial part of the agreement was signed on 14 January 2016 by Ethiopian Airlines Group CEO Mr. Tewolde GebreMariam (left) and IOCC Consulting’s CEO Mr. Dustin Paul Wilden (right). The agreement will include a mutually beneficial business relationship regarding aviation simulators and training at Ethiopian Airlines headquarters in Addis Ababa, Ethiopia.

Tiret, an endowment fund of the Amhara National Democratic Movement, secured a major deal with the Ethiopian Industrial Input Supply Enterprise to supply one thousand tons of denim cotton, according to The Reporter.

The Legedadi ground water project built at a cost of more than 1.5 billion birr earmarked by the government of Ethiopia was inaugurated on Saturday, The Daily Monitor reported.

The Geneva based Arbitration Tribunal, operating under the auspice of the International Court of Arbitration of the International Chamber of Commerce- rejected all of PetroTrans’ claims of unlawful termination of the Calub and Hilala Gas fields’ appraisal and development agreement  signed with the Ethiopian Ministry of Mines in July 2011.

Schulze Global Investments Limited, an American investment firm, has concluded the acquisition of 45 percent stake in MB Plc, producer of Family Milk and other dairy products.

Uchumi Supermarkets Ltd., Kenya’s only publicly traded retail chain, plans to expand to Ethiopia, according to its CEO Julius Kipng’etich.

Ethiopia has a potential to generate over 10,000 MW from geothermal power, according to a study conducted by the Geological Survey of Ethiopia (GSE).