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MIDROC and its affiliate has signed a contract for the transfer of three agricultural enterprises previously owned by the Ethiopian government. The contract was signed by Sheikh Mohammed Ali Al Amoudi and Beyene Gebremeskel, Director General of the Ethiopian Privatization & Public Enterprises Supervising Agency, on April 4, 2013, at the Sheraton Addis Hotel.

MIDROC acquired Upper Awash Agro-Industry for 860 million Br, 35pc of which it has paid in advance. HORIZON Plantations, its affiliate, also acquired Coffee Processing & Warehouse Enterprise and Gojeb Farm for 228.2 million Br and 35.1 million Br, respectively, paying 50pc in advance for both.

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Ethiopian Airlines has renewed negotiations with international companies for the design, construction, and management of the four star hotel it is planing to construct.

“Ethiopian could settle on a company within 15 days, if all requested documents are submitted by the bidding companies,” an official from the facility planning section, under the Alliances & Corporate Strategic Planning Department, told Fortune. Add a comment Add a comment

Ethiopia and the Netherlands signed a Memorandum of Understanding on Thursday to hold overall bilateral consultations between the two countries.

State Minister of Foreign Affairs, Ambassador Berhane Gebrekristos and Netherlands Ambassador to Ethiopia, Bob Hienschn signed the MoU. Add a comment Add a comment

The Ethiopian Ministry of Trade is drafting amendment bill to lift the deadline set for business registration renewal. The amendment is needed to rectify problems relating to business license renewal.

“We are thinking of letting businesses renew their registration certificates until the end of the budget year,” Ali Siraj, state minister for Trade told Fortune. Add a comment Add a comment

Ethiopia is preparing a draft law to regulate Internet, radio and TV. The draft is being prepared by a steering committee constituting the Ethiopian Broadcasting Authority, Ethiopian Ministry of Communications & Information Technology and Information Network Security Agency. The Ethiopia Radio & Television Agency is also participating in the drafting process of the new law.

The draft bill is expected to be finalized and forwarded to the Council of Ministers before the end of the current Ethiopian Fiscal Year, according to Leul Gebru, deputy director general of Ethiopian Broadcast Authority.

The Commercial Bank of Ethiopia has announced that it has sufficient reserves of foreign currency, although some private banks still claim they have a shortage.

Officials of the Commercial Bank of Ethiopia told journalists on Wednesday, March 27, 2013, that even if there is a sufficient amount of foreign currency, improper usage has created concerns about a scarcity. Add a comment Add a comment

LG Electronics and Metro PLC launched a mobile after-sales service center in Ethiopia through the “Care and Delight” bus on Wednesday March 27, 2013. The two companies has invested 2 million birr on the Mobile repair center.

“LG has always placed customer satisfaction at the core of its initiatives,” stated Riyadh Yusuf, Marketing Manager of Metro Plc, speaking at the launching ceremony.

The Ministry of Transport and the Ethiopian Maritime Affairs Authority are working on a directive with provisions for cutting container lease costs and the repossession of cargo left at dry ports for a certain period of time. Add a comment Add a comment

The Ethiopian Shipping & Logistics Services Enterprises has installed a new automated notification software that will help to notify customers of the arrival of goods at the dry port, via text message.  The software, called CTTS, will automatically send a text message to customers after registering the arrival of the shipments into the ESLSE system. Add a comment Add a comment

Federal Environment Protection Authority of Ethiopia and dVentus Technologies launched on Friday March 29, 2013 the first electric powered taxi pilot project.

It is sated that each of the taxis that are manufactured in the US has six batteries installed inside them which enable them to be driven over 50 kilo meters after only being charged once. Add a comment Add a comment