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The African Development Bank is set to invest 22.6 million US dollars to enhance the renewable energy programs in low income countries including those that are active in Ethiopia. The investment plan was endorsed by the SREP’s sub-committee at a meeting held in Nairobi in March.

The investment plan, approved in principle, calls for technical support and guidance from the African Bank to prepare and implement the Assela wind farm project and Phase II of the Aluto Langano geothermal project.

Grants for project preparation of 1.7 million and 900 thousand US dollars were approved for both projects.

Ethiopia’s capital, Addis Ababa is to install city clocks in different squares around the city it was said.

The first clock was designed, assembled and installed by Yohannes Abebe Printing and Advertising Company on the square opposite of Edna mall last week. The company expects to install an estimated 500 similar clocks across the city by the end of 2013.

The clocks are aimed to provide an alternative means of advertisement by offering an efficient and effective means of displaying information serving a dual purpose according to Debebe Fekadu, Marketing Manager of the company.

Tesco, British multinational merchandise retailer, is conducting negotiations to open a mega store in Ethiopia.

Ethiopian government representatives began negotiations with Tesco as part of the efforts to invite international wholesalers and retailers to combat inflation.

Multinational companies maybe the solution to the national market which has been unable to deliver basic commodities at affordable prices according to sources.

Ethiopia is to host the 2013 African Growth and Opportunity Act Forum. Ethiopia is to host the event after senior government lobbied for the opportunity for the last four years.

Hosting the upcoming AGOA forum is an important opportunity for Ethiopia to create a platform to promote the country said Addis Alemayehu, ex-Chief of party of VEGA Ethiopia which assists Ethiopian exporters to the AGOA market under the auspices of USAID.

Ethiopia has invested more than any other African country in the AGOA sector as a result of which it has been selected to host the forum he said.

Four apparel and textile producers in Ethiopia are to wrap a 10 million US dollar deal with a group of US buyers in the next few weeks according to a senior representative of USAID Compete.

The Ethiopian textile companies involved in the deal are AYKA Addis, Addis Garment, Maa Garment and Kombolcha Textile and Calvin Kline is expected to be one of the US companies involved.

USAID Compete, is a USAID initiative which organizes Origin Africa, a yearly textile and apparel trade show in Africa. The Origin Africa event, which took place in Ethiopia for the first time this year, so 60 exhibitors representing many from the Ethiopian textile sector and about 26 buyers from the US and some from Europe.

Ethiopian Airlines, Ethiopia’s flag carrier, announced that it has taken charge of the Boeing 737-800 Sky Interior Aircraft ordered in December 2009.

The company is focused on investing in modernizing its fleet and the new 737-800 Sky Interior aircraft built with high technology to provide customers with the comfort and style to enhance the air travel experience according to Tewolde Gebre-mariam, Chief Executive of Ethiopian Airlines.

The airline expects to deploy the new Sky Interior to East African tourist destinations such as Daressalam, Mombassa, Seychelles during day flights and Delhi, Bombay, Dubai and Kuwait at night. 

Adama Town is working to become the second most significant conference destination in Ethiopia after Addis Ababa according to the Culture and Tourism Office.

The Cultural and Tourism office is exerting efforts to foster the growth of conference tourism in the town said Dejenu Eshetu, Office Occupational Support Supervision Process Owner.

The town has several international standard hotels to provide adequate service for any type of conference he explained. The hotels provide services such as swimming pools, internet access, parking lots and meeting halls that make them desirable to tourists and event organizers said Dejenu.

Yara International is to increase its investment in the Ethiopian potash sector increasing ownership in Ethio-potash BV from 16.67% to 51%.

Yara had entered into an agreement with two partners to invest in 16.67% of Ethio-potash. The other partners were Seftec with 26% share and XLR with a 57.33% share and management of the company in 2009.

XLR will retain a 49% share while Yara will take over the management of the company with its 51% share. 

HP today announced it has established operations in Ethiopia with the opening of an office in Addis Ababa and the appointment of Mesfin Makonnen as Country Manager.

Customers in Ethiopia will now have better access to HP’s broad portfolio of products and services, allowing them to transform their businesses by taking advantage of improved IT infrastructure and a future based cloud computing and connectivity services. Governments can leverage HP technology to drive economic growth and stability by modernizing the delivery of services in key areas such as education, healthcare and e-Government services. HP also intends to broaden access of its consumer printer and PCs in the country.

HP is proud to establish operations in Ethiopia at a time when we are fulfilling our potential as a high-growth economy,” said Mesfin Makonnen “Bringing HP’s cloud-based and connectivity technologies by to the Ethiopian government and local companies can help build a strong technology industry.  In turn this generates economic growth and sees innovative solutions that can make a positive impact in Ethiopia.

Ethiopia and Vietnam discussed collaboration on Ethiopia’s accession to the World Trade Organization when Le Luong Minh made a visit to Ethiopia this week.

A team of technical experts from Ethiopia had previously visited Vietnam for advice on World Trade negotiations. The team also discussed ways to enhance trade in agriculture and textiles.

There are many potential areas for cooperation between the two countries noted Le Luong.