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Ethiopia earned 369.9 million US dollars from mineral exports in the last seven months according to the Ethiopian Ministry of Mines.

The revenue earned was earned from the export of gold, marble, tantalum, ornamental stones and platinum said Bacha Fuji, Public Relations and Communications Director with the Ministry.

Gold earned the largest share of the revenue raising 254.4 million US dollars he said. The revenue earned by gold in the last seven months exceeds that of the same period last fiscal year by 121.3 million US dollars noted Bacha.

Ethiopian Airlines, Ethiopia’s flag carrier, is seeking foreign export agencies to finance its purchase of 12 A350-XWB, Airbus aircraft.

The airline has already made the down payment for the purchase of the A350-XWB aircraft and is ready to involve export agencies to finance the remaining amount said Wogayehu Terefe, Manger of Public Relations and Publications with Ethiopian Airlines.

Ethiopian expects to begin financing for the 12 aircraft in 2015 while the first aircraft is scheduled to be delivered in 2017 according to Wogayheyu.

Ethiopian Airlines, Ethiopia’s flag carrier, Cargo Division announced plans to forward horticultural products from farms to the international market last Thursday at a briefing session at the Radisson Blu Hotel.

The meeting was chaired by Tewolde Woldemariam, Chief Executive Officer and Haileselassie Tekie, Director General of the Ethiopia Horticultural Development.

Ethiopian Airlines has never made a significant profit from horticulture cargo but is committed to supporting the sector noted Tewolde.

Tikur Abay Shoes Share Company commenced trial production of ‘safety shoes’ designed for industrial wear as of last month.

The manufacturer installed new machinery from German Company, DESMA at a cost of 1.1 million US dollars.

Tikur Abay had floated the international bid for the supply of the machinery required to the manufacture the safety shoes in 2009.

Alecto Minerals plc completed acquisition of Nubian Gold Exploration Limited operating the Aysid-Metekel Gold Project, Ethiopia.

Alecto has also made its first share based payment for its Rift Valley Resources acquisition. The company signed a deed of variation in regards of the share price agreement in the acquisition of Rift Valley reducing the total purchase price to be paid by Alecto by 10%.  

The Rift Valley, Wayu Boda Project is need of an additional exploration license for emeralds asa result of which the price was negotiated.

Dalol Oil Share Company, Ethiopia has launched operations according to a statement released by the company.

The company has begun operations with four fuel stations and a depot becoming the fourth domestic fuel retailer in Ethiopia.

Dalol is set to open two more stations in Hawassa and Wolenchiti where the company’s depot is also located.The company also expects to set up fuel stations in Gondar, Jijiga, Hossana and Semera regional towns.

Bid proffered by international contractors for the construction of the headquarter building of the Commercial Bank of Ethiopia were revealed last week.

The largest sum of money proposed proved to be the 6.4 billion birr offered by China Jiangizu International, while the China State Construction submitted a financial proposal of more than 4.5 billion birr. The last company, of the three that had acceptable technical proposals,  Associated Construction and Investment, a Dubai-based construction company offered the lowest bid of more than 3 billion birr.

Ethiopian Airlines, Ethiopia’s flag carrier, revealed its new and enhanced website. The newly redesigned website is expected to be more user friendly.

The airlines’ is delighted to improve its customer’s ability to do business with it by enhancing the website said according to Tewolde Gebremariam, Chief Executive Officer of Ethiopian Airlines.

The newly redesigned website will support the airline’s global call center and the various agent offices to be found around the world allowing customers a range of options to communicate and interact with Ethiopian he said.

Samsung is to set up a new Traffic Management Center to offer a centrally controlled traffic system in Ethiopia’s Capital, Addis Ababa.

The South Korean electronics company is in the process of conducting a pre-feasibility study and is expected to secure a loan from the Korean Import-Export Bank to finance the project.

The project was first discussed between representatives from Samsung and the Addis Ababa City Roads Authority in November of 2010 according to Engineer Fekade Hailu, General Manager of the Addis Ababa City Roads Authority.

Global Consultant Oracle and its Ethiopian affiliate Boston Consulting conducted a workshop for business owners in Ethiopia at the Sheraton Hotel last week.

The workshop concentrated on enhancing the technological capacity of business by offering them a better understanding of how they can utilize engineered hardware like database machines.

Businesses can avoid down time and associated costs when employees are not working at maximum productivity said Austine Ouma representing Oracle.