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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

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