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Ethiopia's Awash Wine S.C announced that it has made over 90 million Ethiopian birr profit before tax in the concluded fiscal year. Rezene Hailu CEO of Awash Wine S.C made the announcement during the company's annual employees day.

Rezene said on the occasion that the company has earned 90.84 million birr profit before tax from the 6.4 million liters of wine produced in the budget year. The company’s profit before tax was only 1.5 million birr 15 years ago, he noted.

The Ethiopian Ministry of Mines and Energy said, over 8.6 million liters of ethanol has been blended with gasoline and supplied to local market over the concluded Ethiopian Fiscal Year.

Public relation and communication Director with the Ministry, Bizuneh Tolcha told Ethiopian News Agency that supply of increasing amount of ethanol blended gasoline has enabled the country to save US$7.6 million.

The Belarusian Minsk Motor Plant shipped the first batch of products to Ethiopia, Belarusian Telegraph Agency (elTA) reported.

“We shipped 71 engines to this market where they will be used to re-equip ZiL 130/131 and GAZ-66 vehicles. There are good prospects to expand deliveries to this new market. We have stepped up our efforts to explore and penetrate the markets of Africa, Latin America and Asia. These markets are very promising for us. We have already delivered the first batch of products to Myanmar, Burkina Faso, the Dominican Republic and Mexico,” the company said.

Ethiopia's Meta Abo Brewery S.C. has launched a non-alcoholic malt drink to venture into the non-alcoholic beverage market.

A particular segment of the society the company identified as being a potential customer base is the Muslim population of Ethiopia, which because of its religious drink is prohibited from drinking alcoholic drinks.

Sony launched its Sony XPERIA smartphones to the Ethiopian market on Saturday 17 August 2013.

Along with the flagship Xperia Z, the smartphones range features five new models, the Xperia TIPO, Xperia J, Xperia Go and Xperia V. The new Xperia Z's range of features includes a 5-inch Full HD 1080p Reality Display.

Ethiopia's anti-corruption watchdog, Federal Ethics and Anti-Corruption Commission signed contract with CSM Technologies, an Indian technology firm for a website design.

In a press statement it sent to Ethiopian News Agency on Tuesday, the Commission said the website will enable it to publicize the wealth of 60,000 government appointees.

The Ethiopian Ministry of Urban Development & Construction (MoUDC) is to launch a new housing program for individuals working in wholly or partially owned government corporations, Fortune reported.

The latest housing program is on top of the eight housing programs already underway. The program is scheduled to be launched on September 26, 2013.

The Ethiopian government has established a new agency tasked with regulation of large-scale agricultural investments, Capital reported. The Agriculture Investment Agency (AIA) was set up to regulate large-scale and mechanized agricultural investments on lands granted by the Ministry of Agriculture.

Abera Mulat, an agriculture expert at the Ministry of Agriculture, has been appointed as the director of the Agriculture Investment Agency.

Horizon Plantations, subsidiary of MIDROC owned by the Ethio-Saudi billionaire Mohammed Al-Amoudi, has acquired full ownership of Bebeka Coffee Plantation S.C and Horizon Addis Tyre after it bought the Ethiopian government’s shares in both enterprises for 667.2 million Ethiopian birr.

The Ethiopian government’s share in Bebeka was 36 percent, which is sold for 207.8 million birr and  the governments share in Horizon Addis was 31 percent.

Albwardy Investments, a Dubai-based holding company has struck a US$25 million deal with M.A Kharafi & Sons PLC. for the acquisition two hotels under construction. The partially constructed 7 and 6 floor hotels are located at the junction of Africa Avenue and Jomo Kenyatta Street, at Meskel Square.

The original plan of M.A Kharafi & Sons PLC was to build one three-star hotel, named Ibis, on the side of the Jomo Kenyata Street and another four-star, named Novotel, along Africa Avenue.