2merkato

Pittards PLC, British company investing in Ethiopia, disclosed it intends to increase its production capacity by threefold in the coming two years.

The plan by Ethiopia’s Ministry of Industry to construct a leather tannery village in Mojjo town is still impractical for it has not yet secured USD 58 Million.

One of Ethiopia’s nine states, Somalia State, got its second micro finance institution (MFI) which is dubbed Rays MFI. The institution is going extend loan with an interest rate ranging from 10 percent to 20 percent.

Ethiopia’s first light railway tracks as well as railcar testing was undertaken on Sunday, February 1, 2014 in the aim of ensuring the system is up to the standards.

Ethiopia’s Ministry of Trade made price adjustments on the retail price for petroleum products. The Ministry made the adjustment following the fall in the global oil prices.

Ministry of Industry (MoI) withdrew incentive packages and privileges it gives to foreign companies that operate in Ethiopia. The move came for the companies are selling their products to the local market while they were supposed to export them.

During the first six months of the current fiscal year Ethiopia’s notary office, Documents Authentication and Registration Office (DARO) managed to raise 107.9 Million Birr from stamp duty sales.

Ethiopia’s Federal Court passed a judgment which gives Ministry of Trade (MoT) the authority to form a caretaker board.

Additional nine trains are being assembled here in Ethiopia by Ethiopian professionals. This is disclosed by the Ethiopian Railway Corporation (ERC).

Ethiopia’s Federal Auditor General conducted a study which revealed 14 major hotels are making use of inappropriate cash register software that is not compatible with Ethiopian Revenue and Customs Authority’s (ERCA) server.