2merkato

The Indian based meat processing company, Allanasons Group, is finalizing a deal for the purchase of Akshakar Export Abattoir for a total of U.S $ Nine Million.

Owner of the widely known brands such as Tommy Hilfiger, Calvin Klein and Heritage, Phillips-Van Heusen (PVH) Corporation, set 10 investment preconditions to the Ethiopian Government.

Awash International Bank (AIB) is going to launch its advanced CORE banking system in September 2014. The advanced system is said to introduce new services.

United Bank S.C. finished upgrading its internet banking service to Hiber Online, which is said to be a world class online banking system.

Ethiopian Roads Authority (ERA) disclosed the Hawsewa-Abeala-Arbeti asphalt road, which it is constructing at the cost of a Billion Birr, is 93 percent over. The road is expected to be fully completed by the coming November.

A Chinese company disclosed it is ready to establish a huge textile factory in Ethiopia at an outlay of U.S $ 500 Million. The company disclosed it has finished pre-investment assessments to build the factory.

On Monday, September 1, 2014, Ethiopian Airlines started its new flight to Spain’s capital, Madrid, making the city the Airline’s 10th European destination.

The state owned giant Ethiopian Insurance Company (EIC), suffered a decline in its insurance coverage decreasing down to 8.4 Billion Birr in the just ended budget year. The decline in insurance coverage resulted in the Insurer’s overall market share to drop to 41 percent.

Ethiopia Airlines announced it launched flights to Bale Robe and Kombolcha starting from Monday, September 01, 2014 and Wednesday September 10, 2014 respectively.

Ethiopia’s capital, Addis Ababa is going to have a new land lease pricing benchmark by the coming Ethiopian year. The new pricing benchmark is going to put in to consideration cost benefit analysis.