2merkato

Mineral export is planned to bring in U.S. $ 714 Million for Ethiopia during the current fiscal year, Ministry of Mines (MoM) disclosed.

Ethiopian Roads Authority (ERA) is undertaking activities to upgrade 600 Kilometers of gravel roads to asphalt. The project is said to cost 9.5 Billion Birr.

Asian Paints is acquired a 51 percent share in the Ethiopian Kadisco Paints via its Singapore-based subsidiary Berger International.

Bell Geospace disclosed it won the tender floated by GPB Ethiopia Resources B.V., an affiliate of GPB Global Resources, for Airborne FTG & Magnetic Surveys in the Gewane-El Wiha Block, Afar State. Subsequently, Bell is awarded the contract by GPB Ethiopia.

The electrified rail link being built between Addis Ababa, Ethiopia’s capital, and Djibouti, the land locked nation’s main trade corridor, will be finalized in a year time, Prime Minster Hailemariam Desalegn said.

Dashe Bank S.C. is going to launch an agent banking service by the end of the 2014 making it the first bank in Ethiopia to render the service.

United Insurance Company S.C. secured 62.7 Million Birr net profit in the last fiscal year. This figure is slightly higher than what the company managed to earn in the 2012/2013 fiscal year, 60 Million Birr.

Habtemariam Shumgizaw, Chief Executive Officer of National Insurance Company of Ethiopia (NICE), has stepped down from his authority to retirement. His retirement is going to be effective from Saturday, November 1, 2014.

Ethiopian Airlines concluded a code-share agreement with the Japanese airline group, ANA.

The Bangladesh based, BDL Group, is set to build textile and garment factory at an outlay of 765 Million Birr in the Tigray State capital, Mekele City.