2merkato

Ethiopian Airlines took delivery of its 20th B787 Dreamliner which it dubbed "Niagara Falls" on Thursday, October 2, 2014.

India’s Ambassador to Ethiopia, Sanjay Verma, disclosed companies from his country are making preparations to make an aggregate investment of U.S. $ Two Billion.

The Ambassador noted there are favorable investment opportunities, sitting reliable peace and fast economic growth, and that Indian investors are ready to seize the opportunity.

According to him, the trade and investment volume of Ethiopia and India have reached U.S. $ 1.2 Billion. In order to further strengthen the bond, the Ambassador noted, India is finalizing preparations to establish the biggest agricultural and science center in Africa and a textile industry cluster in Kombolcha town.

In addition to this, Verma recalled his country extended U.S. $ One Billion Birr to Ethiopia for the latter’s mega projects; specifically electric transmission lines, railway construction, sugar factories and irrigation.

Source: Ethiopian News Agency

Ethiopian and Turkish business tycoons met here in Ethiopia at the Ethiopian Chambers of Commerce and Sectoral Associations’ office for the purpose of surfing business opportunities in the two countries.

Ethiopia’s Prime Minister Hailemariam Desalegn opened Africa Hotel Investment Forum 2014 on Tuesday, September 30, 2014. The Forum is said to have attracted a global audience from the hotel and tourism industry.

Wyndham Hotel Group, a US based group, disclosed it is going to open a four star hotel in the Ethiopia’s capital, Addis Ababa.

Best Western International Inc announced it is going to develop two of its branded hotels in the capital of Ethiopia. Best made the announcement with Great Abyssinia Plc and Noah Real Estate Plc.

The shares Africa Insurance Company S.C. floated witnessed a bid that is 57 percent higher than the price the company set.

Berhan International Bank’s President, Belachew Bogale, resigned from his position making him the fourth President from the banking industry to leave his place in one month time.

A business delegation that constitutes representatives of 12 Swiss companies and led by the Switzerland’s Ambassador to Ethiopia, Andrea Semadeni, are on a five days business visit in Addis Ababa in search of investment opportunities. The delegation started its visit on Monday, September 29 and it is going to last until Friday, October 3, 2014.

Toshiba Corporation disclosed it concluded a memorandum of understanding (MoU) with the Ethiopian Utility company, Ethiopian Electric Power (EEP), for a comprehensive partnership in geothermal power. The MoU stipulates EEP and Toshiba will collaborate in power generation
projects and personnel development.