2merkato

The South African Standard Bank disclosed it is going to open a representative office in Ethiopia in two months time. This is despite the Ethiopian economy is closed for foreigners when it comes to commercial banking services.

Textile technology park which will aid the textile sector with regard to skilled manpower and technology is going to be set up in Ethiopia.

A referral hospital dubbed after the late Prime Minister Meles Zenawi built at an outlay of 200 Million Birr in Somali State is going to go operational in a one month time. This was disclosed by the State’s Health Bureau.

Gulf Pharmaceutical Industries disclosed it is going to construct what it has called the largest injectable medicine producing plan in Ethiopia at the cost of USD 50 Million.

Starting from the current fiscal year Addis Ababa City Administration will be clearing 134.78 hectares land upon which slums have been built on.

Ethiopia’s plan to raise the amount of ethanol that will be blended with benzene to 20 percent is not achieved in the year 2007 (Ethiopian Calendar) for there is a delay in the new sugar factory projects.

Ethiopian Insurance Company (EIC) decided to raise its authorized capital to 592 Million Birr. Currently the company’s paid up capital lies at 383 Million Birr and the plan is pay the 209 Million Birr difference in three years time.

Leader of the Qatari business delegation that came to Ethiopia, Sheikh Fahad Ahmed M.T Al Thani, disclosed he intends to launch 4 investment projects that are worth USD 500 Million.

National Oil Company (NOC) disclosed it is going to start using a new tanker tracking system which will be installed upon tanker trucks, in the aim of tackling fuel adultery and monitoring the behavior of drivers.

The profit by Ethiopian Airlines Group for the 2013/2014 fiscal year has hit the bar and made a record profit of 3.15 Billion Birr.