2merkato

The last Ethiopian budget year witnessed, export of cement to neighboring countries earning the Ethiopia a total of U.S. $ 9.5 Million.

Negusu Gebregziabher, President of Lion International Bank S.C. (LIB), resigned from his post. He is the third bank president to resign from his post in the last two weeks.

The newly established Public Service Employees Transport Service Enterprise (PSETSE), disclosed it is going to start trial transportation service from Monday, September 15, 2014 using over 50 buses. The Enterprise was established last year intending to render free
transportation service for civil servants.

Delonex Energy Limited, a UK based oil and gas exploration company, is granted an exploration license by the Ethiopian Government to make exploration in the Abred-Ferfer area, Somali State.

Inaugurating the new Humbo-Arbaminch Road, Prime Minister Hailem Mariam Desalegn noted the road will boost the investment taking place in the area.

InterContinental Hotels Group (IHG) concluded a management agreement with an Ethiopian company, Tsemex Business Plc, for the purpose of developing Crowne Plaza Addis Ababa. This is said to represent the IHG’s entry to Ethiopia.

Sri Mulyani Indrawati, World Bank’s Managing Director and Chief Operating Officer, is going to be in Ethiopia for a three days visit starting from Sunday, September 14, 2014.

Central Statistics Agency (CSA) disclosed Ethiopia’s inflation rate for the month August has rose to 7.2 percent, which is a 0.3 percent increase. This is said to be attributable to the increase in non-food items.

Ethiopia concluded a hydro power plant construction agreement with three companies for the construction of a plant that is going to be built in Oromia State, out of which one is a local firm.

Addis Ababa City Transport Bureau (AACTB) is searching for private companies that will build 354 passenger shelters at public transport stop points. The shelters are going to be built in Addis and its neighboring towns.