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The Amhara Credit and Saving Institution reported it has disbursed 4.12 billion Ethiopian birr loan in the just concluded Ethiopian Fiscal Year.

Institution Operation Sector Deputy Manager, Agaje Getahun, told WIC that the loan was distributed among people engaged in manufacturing, wood and metal works, trade, service, animal fattening and agriculture, among others. Add a comment Add a comment

Ethiopia's inflation rate has picked up pace in June mainly driven by surge in prices of non-food items, the Ethiopian Central Statistics Agency monthly inflation report indicated last week.

The Consumer Price Index grew at an annual rate of 7.4% in June compared with 6.3% in May, the first month of increase after a steady decline over the last year.

Gambella Regional State of Ethiopia has supplied over 1160kg pure gold worth over US$50 million to the National Bank of Ethiopia (NBE) during the just ended Ethiopian fiscal year, the regional mines agency said.

The Agency told Ethiopian News Agency that the gold was supplied to the Bank by traditional miners. It said over 90 per cent of the stated amount of gold was supplied from Dimma Woreda. Add a comment Add a comment

Ethiopia and Vietnam have signed a Memorandum of Understanding (MoU) to begin bilateral air transport, according to a statement the Ethiopian Civil Aviation Authority sent to Ethiopian News Agency. The MoU was signed following a two-day discussion held between officials of civil aviation authorities of the two countries in Hanoi from 11-12 July 2013.

Director-General of the Authority Col. Wossenyeleh Hunegnaw signed the MoU with his Vietnamese counterpart Vo Huy Cuong. Col. Wossenyeleh on the occasion said the MoU will significantly contribute to strengthen economic relation between the two countries. Add a comment Add a comment

The Ethiopian Revenue and Customs Authority said it has collected over 84.2 billion Ethiopian birr revenue during the just ended Ethiopian Fiscal Year.

The Authority told Ethiopian News Agency on Tuesday that the revenue collected showed an increase of 13.56 billion birr compared to the amount collected in the previous budget year. Add a comment Add a comment

The Addis Abeba Water & Sewerage Authority is to commence the expansion project of the Kalti Sewerage Treatment Plant, with US$100 million. The expansion project is jointly financed by the World Bank and the Ethiopian.

The expansion project will increase the treatment plant's capacity to 100,000 metre cube a day from the current 7,500. Add a comment Add a comment

Optic fiber cable manufacturing plant  built at a cost of 2.7 billion Ethiopian birr is scheduled to go operational in September 2013, Ethiopia Radio and Television Agency reported.

The plant will produce 24 thousand km optic fiber cable annually, when it becomes fully operational. Add a comment Add a comment

The National Bank of Ethiopia has opened bids of five international companies for printing of standardized checkbooks.

The NBE floated a tender for the supply of MICR enabled cheques in May 2013 following a decision by the central bank and Ethiopian Bankers Association to standardize cheques with additional security features in order to speed up cheque clearing and settlement with security. Add a comment Add a comment

Habesha Brewery is offering additional 300,000 shares to its existing shareholders after failing to get adequate bank credit.

Habesha has plant to install a brewing plant with annual capacity of 500,000 hectoliters in Debre Berhan Town, 120 KM outside of the capital, Addis Ababa. Add a comment Add a comment

Ethiopia is planning to submit its offer on services to the World Trade Organization in September 2013 as part of its accession bid. Ethiopia is currently working on offers for 160 service industries, some of which are controlled by the state.

Last year, Ethiopia has submitted suggested tariffs on goods to member countries for negotiation, Geremew Ayalew, head of the trade relation and negotiation directorate at the Trade Ministry, said in an interview with Bloomberg in Addis Ababa.