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Ethiopia's Ministry of Labor and Social Affairs has amended its directive to increase the minimum wage paid to Ethiopians traveling to the Middle East for job. The directive has increased minimum wage from  180 U.S dollars to USD 250.

Many Ethiopians travel to the Middle East for a meager salary of USD 180 to provide unskilled labor services, while Indonesian and Filipino domestic workers wage ranges from USD 450 to USD 500 with more favorable working conditions.

Compressed Earth Block (CEB), a new way of making block was introduced to the Ethiopia at a workshop on alternative construction materials organized by the American Cement Institute (ACI) Ethiopian Chapter on April 4, 2013  at the Hilton Hotel.

Compressed Earth Block is said to be made of different type of materials. The material is not usually favored by constructors because it is thought that it is not water resistant. Add a comment Add a comment

The Chinese construction company, China Road and Bridge Corporation Addis Engineering (CRBC) and the Israel based, Tidhar Construction Ltd have been awarded the 8.6km interchange and roundabout project, part of the Light Railway Transit (LRT) project in Addis Ababa, Ethiopia.

The joint finaniers of the project, the Addis Ababa City Administration and the Federal Government of Ethiopia,selected the contractors to undertake the the 2.5 billion birr project within the set deadline. Add a comment Add a comment

Ethiopian Airlines, has collected a 25.1 billion birr profit in its eight months of operation, Diriba Kuma, the Transport Minister told parliament last Tuesday presenting his office’s eight-month performance report.

According to the minister, the airline’s projection for the current Ethiopian Fiscal Year is to increase its total revenue to 30.1 billion birr, and so far it has achieved 82 percent of it its earning target. Add a comment Add a comment

Ethiopia's Zemen Bank announced it has sold close to 200 million birr in shared in the past two month, achieving its target of capital increase for the fiscal year. The sale of shares has been limited to existing share holders in the bank. The total capital of the bank now stands at 400 million birr, a two fold increase from the previous year.

The Bank noted that its deposit base in the first nine months of the current fiscal year has increased 42 percent and had passed 2.5 billion birr, all mobilized from a single main branch.

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.