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Australian Miner, Foreskew, has requested an iron exploration license to prospect for iron in Oromia Regional State, Ethiopia.

The firm is particularly interested in the area between Bale and Harrarghie which is known for oil seepage which is an indication of the presence of uranium and gemstones.

It remains unclear if the Ministry of Mines has began processing applications for exploration licenses for the ban put in place last November according to sources.

Ethiopian Airlines, Ethiopia’s flag carrier, is planning to establish a new carrier in Central African according to a Senior Executive.

The management aims to create a new African airline to provide service to Central and Southern Africa said the official.

Ethiopian expects to attract investors such as South Africa Airways and Egypt Air in the proposed project although the detail work plans are still in development noted the official.

The African Cotton and Textile Industries Federation, (ACTIF) the voice of the textile industry in Africa, will hold “Origin Africa” — a four-day event showcasing the best in Africa fashion, textiles, and accessories — in Ethiopia.  Its main objective is to put Africa on the map as a preferred place to do business in the international textile and apparel industry.

Now in its third year, Origin Africa 2012 – Ethiopia will feature one of the largest and most comprehensive trade expos in Africa, with more than 60 exhibitors from Africa, the U.S., Europe, India and China covering the entire fiber/textile/apparel supply chain as well as the home decor and fashion accessories sector.  The Trade Expo is complemented by a world-class seminar series as well as the Origin Africa Designer Showcase, which features the best in African design talent.  The event will roll out over 4 days from 24 – 27 April at the Sheraton Addis and the African Union Conference Center.

Ethiopia earned 193.5 million US dollars from the export of manufactured products in the last nine months according to the Ministry of Industry.

The revenue earned exceeded the sum earned in the same period last year by 55.9 million US dollars or 40.7%.

The revenue was earned from the export of leather and leather products, agro-processing, chemicals, pharmaceuticals, textile and garment said Mekonnen Manazewal, State Minister of Industry in a presentation of the ministry’s nine month performance report to the House of Peoples’ Representatives.

Enat Bank has submitted another female presidential nominee for consideration by the National Bank of Ethiopia according to sources.

The central bank was in the process of evaluating the second nominee presented by Enat Bank, Brutawit Dawit, and had not passed a decision when the board of Enat filed the name of another nominee.

The National Bank declined to disclose the identity of the new nominee having been contacted by Enat bank informally according to Solomon Desta, Head of Banking Supervision with the central bank. 

United Insurance SC, Ethiopia has offered the post of Deputy Manager of its Operations Department at double her 10,000 birr salary as Main Branch Manager, with Nib Insurance.

Zufan graduated in economics from Addis Ababa University and joined United Insurance where she worked for the next eight years before leaving to join Nib Bank.

Two of the top five management positions at United Insurance are filled by women with Zufan’s appointment making the third position to be occupied by a female.

Representatives from Ethiopia’s metal industry discussed the challenges facing the sector at meeting held last week.

Challenges include price increases, power cuts, taxes, the supply of scrap metal, capital shortages and the monopoly of the Ethiopian Shipping and Logistic Enterprise had the Ethiopian Association of Basic Metals and Engineering Industries to call for a public-private dialogue forum to support the sector.

The competitive advantage of domestic industries is adversely affected by the 5% import duty imposed on scrap metal exports while the finished product is imported duty free according to participants at the meeting suggesting the lift of import duty or develop a duty drawback scheme for domestic industry.

The inflation rate in Ethiopia is expected to decrease to less than 10% by November according to Ethiopian Prime Minister Meles Zenawi.

It is expected that the inflation rate will continue to decrease according to the trend seen in March and is projected to reach single digits by November said Meles.

The annual inflation rate in Ethiopia slowed to 32.5% in March from 35.3% in February according to the Central Statistics Agency.

Ethiopia has wind power potential that could potentially generate more than one million MW of electricity according to a study.

The first draft of the master plan study carried out by Hydro China Corporation assessed the nation’s potential wind and solar energy said Xu Lushi representing the company.

Wind and solar energy has great potential to meet the growing energy demand and to reduce global warming he noted.

Mamma Fresh Injera plc, Ethiopia has finalized preparations to export frozen Wat said Hailu Tessema, General Manager of the company.

The company is planning to export frozen chicken Wat and sauces to be used in the preparation of different types of Ethiopian foods explained Hailu.

Mama has been given permission from the United States Food and Drug Authority to begin exporting its products to the United States market after the agency carried out its testing he explained.