2merkato

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.

The state owned tobacco monopole, National Tobacco Enterprise (NTE), has acquired a new machine for the purpose of packaging and producing cigarettes at the cost of 140 Million Birr. The new machine is said to boost the enterprise’s annual capacity to six Billion cigarette sticks.

Former President of Bank of Abyssinia (BoA), Addisu Haba, is now appointed as the president of Debub Global Bank (DGB).

Hassenias Real Estate is set to deliver 40 houses to its customers in the coming few months. In addition to this, the firm is planning to start its second phase of construction on a total area of 80,000 square meters at an outlay of 1.2 Billion Birr.

Africa Insurance Company S.C. registered a 40 percent earnings per share and a total of 42 Million Birr as gross profit during the 2013/2014 fiscal year. This is according to the Insurance’s unaudited report.

Eksoy Chemical Industries Ltd, a Turkish based chemicals manufacturer, is about to get in to the Ethiopian market by supplying chemicals and dyestuff to textile factories via a bonded warehouse scheme.

The road that connectes Ethiopia and Kenya, Yabelo-Mega road, is inaugurated and is open for traffic.

H&M and Swedfund have joined hands to contribute to the development of a responsible Ethiopian textile industry characterised by both high social and environmental standards. The partnership is said to start this autumn.