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,the largest individual shareholder of Raya Brewery SC, has acquired additional 70 million birr worth of shares. The value of his total share has reached 125 million Ethiopian birr. This purchase makes Dawit the second top shareholder in Raya, after BGI Ethiopia, which has 30 percent share.

The board of directors of Raya, chaired by Lieutenant General Tsadkan Gebretensae, is expected to announce the increase of the company's paid up capital from 300 million birr to 500 million birr at the fifth general assembly and fourth extraordinary meeting of the company.

The Ethiopian Standards Agency expressed its concern that few of its 121 mandatory standards are observed. Last Wednesday, Legesse Gabrie, director of the Standards Preparation Directorate of the Agency, told journalists that many companies are not complying with labeling and marking requirements of the Agency. Many of them are advertising irresponsibly, disregarding both voluntary and mandatory labeling and marking  standards of the country. Add a comment Add a comment

SA-MED Private Limited Company, a joint venture with the Italian Adriamed Medical Devices and Services announced, it has completed testing and trial production of a medical disposables manufacturing plant at Dukem, Ethiopia. The factory manufactures plastic IV fluid containers and giving sets.

Current production of plastic IV fluid containers and giving sets in Ethiopia is around 6 million containers per year while the demand for this medical disposables stand at 20 million, according to Seid Mohammed, partner and vice chairman of SA-MED.

Ethiopian Prime Minister Hailemariam Desalegn invited investors in East Africa to utilize suitable investment opportunities in Ethiopia. The premier extended the invitation during a discussion held in Nairobi with investor from East African countries.

Hailemariam invited investors to engage in priority sectors of of Ethiopia such as, manufacturing, textile, leather industry and horticulture. He said both the investors and the nation would benefit from investing in those sectors. Add a comment Add a comment

The Colorado-based MWH Global, an engineering, construction, and management company has  opened an office in Addis Ababa, Ethiopia, which the company said will serve as a center for its construction, engineering and administrative staff in Africa. MWH Global has been involved  in Ethiopian hydro-power projects since the 1970s.

The State owned utility company, Ethiopia Electric Power Company (EEPco) selected MWH Global as owner's engineers for the 300-MW Tekeze hydroelectric power station in 1998, and the company more recently provided similar services for the 254-MW Genale-Dawa Multipurpose Hydro-power Project.

The Addis Ababa City Administration is set to transfer more than ten thousand condominium houses located in different parts of the city to beneficiaries.

The City Administration's Housing Development Bureau has announced the 9th round winners of the housing program on Sunday 7 April 2013. The condos cost over 2 billion Ethiopian birr. Add a comment Add a comment

(In paragraph 1, corrects Microsoft intends to open application factory not manufacturing plant)

Microsoft, American multinational software corporation, through its African Initiative Program has started setting up application factories across Africa. Ethiopia is also one of the countries where Microsoft is planning to set up application factory for developers through which they can create Windows applications for the Windows 8 or Windows Phone platform.

During the 11th Innovation Africa Digital Summit held the past week in Ethiopia which saw the attendance of some 500 participants form the information communication technology industry, Microsoft has also presented its Africa initiative programs.

SouthWest Energy is planning to drill three wells in this year and in 2014 in its Jijiga basin concession on Ethiopia's border with Somalia. The company holds a total of 46,000 square kilometers of exploration acreage.

Tewodros Ashenafi, CEO of SouthWest Energy, a native of Ethiopia and the biggest shareholder in the company,  hopes his Ethiopian exploration will become the first indigenous company to make a basin-opening discovery in sub-Saharan Africa's 21st Century oil and gas boom.

Ethiopia’s inflation rate fell to 7.6 percent in March (Megabit) 2005 E.C., according to the Central Statistics Agency.

Households Survey and Prices Statistics Directorate Director with the Agency, Alemayehu Teferi, said the government has managed to bring price inflation down to single digit as per its plan. Add a comment Add a comment

Ethiopian Shipping and Logistic Services Enterprise signed an agreement with Evergreen, an Egyptian container transporter on Today 9 April 2013. The agreement is said to enhance the transportation Ethiopia's import and export commodities efficiently to support the countries rapid economic growth.

Ethiopian Shipping and Logistic Services Enterprise Chief Executive, Ahmed Tussa on the occasion said, the agreement with Evergreen will enable the Enterprises to work together in the Far East, China and Red Sea routes. Add a comment Add a comment