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Ethiopia's Addis International Bank awarded Seven Seas Technologies, a Data Center and Network System company, a contract to develop the design, installation and commissioning of a state of the art data and audit center. It was stated that the bank will facilitate the installation and upgrading of the network.

The technology Seven Seas Technologies will be providing are set to lay the foundation for the integration of the core ICT system to enable the bank to communicate and operate with improved effectiveness and efficiency.

Ethiopian Industry Minister Mekonnen Manyazewal said that, Ethiopia is eager to bolster its trade ties with Turkey. Speaking at the Ethiopia-Turkish Investment Forum, the Minister said the Ethiopian government is revising and updating its trade and investment policies and strategies to strengthen relations with countries like Turkey. Add a comment Add a comment

Ethiopian Ministry of Mines announced, the country has earned USD 308.7 million from the export of gold supplied by artisanal miners in the past 8 months of the Ethiopian Fiscal Year.

During the period, traditional gold miners has supplied more than 5 thousand kilo grams of gold to the National Bank of Ethiopia. Add a comment Add a comment

Ethiopia's Aquarius Aviation PLC concluded contract with the American Cessna Aircraft Company, to purchase two Cessna Caravan airplanes for USD 3.2. The planes which have a 39 seat-capacity are expected to be delivered within a year.

When the agreement is finalized in the coming month, Aquarius will be expected to pay 30 percent upfront, according to Frehiwot Tessema, general manager of Aquarius Aviation. Add a comment Add a comment

The Ethiopian Ministry of Industry said it has submitted a draft proclamation to the Council of Ministers for the establishment of three different institutes for various sectors as part of the government's plan to boost the manufacturing sector of Ethiopia.

The main objective of setting up the institutes is to help the government's endeavor to realizing the role the manufacturing sector plays in driving Ethiopia's economy. Add a comment Add a comment

FAAS Trade and Investment Ltd., a U.K company showed interest to buy oilseed and coffee from Ethiopia. According Fares F. Oufi, sales manager, the company will buy as much as ten thousand tons of sesame every year.

FAAS's biggest market is China and Oufi said, Japan will also be its export destination soon.

Dangote Industries PLC applied for silica exploration license in Ethiopia. Silica is the major raw material for glass manufacturing. Dangote applied for the mining license to establish a glass manufacturing plant.

Dangote has also commenced work on cement manufacturing plant in Ethiopia. The cement factory, located in Mugher town, will have a production capacity of 1.5  tons per annum. Add a comment Add a comment

The Addis Ababa City Administration, Housing Development and Administration Agency announced the winners of the 8th round condominium houses beneficiaries on 20 March 2013.

The announcement was published on Addis Lessan, the City Administration's official newspaper and on its official websites. Add a comment Add a comment

The Development Bank of Ethiopia (DBoE) said it has distributed 3 billion birr loan during the past eight months of the Ethiopian Fiscal Year.

President of the bank, Isaias Bahre, told WIC the loan was disbursed among financial institutions, cooperative association and unions as well as other clients.

A 12 member Ethiopian business delegation  took part in a host of business seminars and discussions in Israel.

The visit was organized to introduce Israel's technology and businesses to Ethiopia through partnership with Ethiopian businesses. Businesses in agro-industry, automotive, hotel and tourism, energy and manufacturing  industry, among others, were involved in the visit.

The Ethiopian delegation said, the visit further enhances existing relations between businesses of the two countries. The visit intends to identify companies that can invest in Ethiopian energy generation and distribution sector.

The trading exchange between the two friendly countries has now reached around 83 million dollars.

Source: Walta