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Ethiopian Airlines, Ethiopia’s flag carrier, accepted the bid submitted by the Aviation Industry Corporation of China to construct a 100 million dollar maintenance hanger.  

The AVIC and Ethiopian Airlines are discussing financing for the project said Tewolde Gebremariam, Chief Executive of Ethiopian Airlines.

It is expected that the construction project for the maintenance hanger will commence in the first quarter of 2012 to be completed within 900 days from when construction begins according to Tewolde.

The National Bank of Ethiopia approved 10 nominees for the Board of Directors of Enat Bank. The new Board of Directors will be responsible for electing a chairperson.

The 10 nominees approved are Meaza Ashenafi, Nigist Haile, Aster Solomon, Dr. Assefa Bekele, Nestanet Mengistu, Nigatu Tesfaye, Mekete Shiefraw, Dr. Kassahun Aberu, Chanyalew Yilma and Ambassdor Konjit Sine Giorgis.

The central bank failed to approve only one of the original nominees, Tsegaye Tetemke, because his position as president of Zemen Bank.

The National Bank of Ethiopia reduced the minimum ratio of deposits Ethiopian banks need to hold in reserve from 15% to 10%. The change, took effect as of January 2 as per a directive issued by the central bank of Ethiopia.

The National Bank changed its monetary policy to increase the amount of cash banks have available for lending according to economists.

The amount of ‘liquid assets’ to be held as a proportion of deposits was also decreased from 25% to 20% confirmed Alemayheu Kebede Director of the Communications Directorate of the Central Bank.

The Ministry of Mines, Ethiopia is to sign a Petroleum Development and Production Sharing Agreement with South West Energy. The agreement will allow the company to prospect for gas and oil reserves in Gambella Regional State, Ethiopia.

The agreement will be signed by Sinkenesh Ejigu Minister of Mines and Tewodros Ashenafi, Chief Executive Officer and founder of South West at the Head office of the Ministry of Mines.

South West Energy will also be able to develop gas and oil reserves in the exploration area according to the agreement.
The petroleum exploration and development agreement was approved by the Council of Ministers.

Ethiopian Airlines, Ethiopia’s flag carrier, announced a 20% pay raise for all employees effective as of the first month of 2012.

The board of directors of Ethiopian approved the salary increment according to the Public Relations Department of the airline.

Ethiopian Airlines, Ethiopia’s flag carrier, has put in an order for Boeing Blended Winglets for its 767-300 ERs said Aviation Partners Boeing. The Airline will install the Winglets at the maintenance facility to be found at Bole International Airport, Addis Ababa, Ethiopia.

The airline plans to install the Winglets on 3 aircraft as of February 2012.

Ethiopian Airlines decided to purchase the winglets for the B767 aircraft to take advantage of the significant performance and operating value they bring said Tewolde Gebremariam Chief Executive Officer of Ethiopian Airlines.

The Google team announced the first g|ethiopia to be held in Addis Ababa on 7-8 February. 

The event is planned to engage business leader, entrepreneurs and community of developers interested in technology.

Ethiopian Entrepreneur Bethlehem Tilahun was named one of Africa’s most successful women by Forbes magazine.

“Every now and then, I profile outstanding African women who’re making giant strides in business, politics, technology, entrepreneurship and leadership on the continent and elsewhere around the world. This week, I profile the spectacular Bethlehem Tilahun Alemu, an Ethiopian entrepreneur and the founder of SoleRebels a thriving eco-sensitive footwear brand that pundits hail as Africa’s answer to brands such as Nike, Reebok and Adidas” wrote the editor.

The Agricultural Inputs Marketing Enterprise, Ethiopia issued tenders for the purchase of 310,000 tons of fertilizer. The tender is to be opened on the 17th of January 2011 for the coming Ethiopian harvest season.

The government plans to purchase 78,000 tons of Urea and 232,000 metric tons of Dap.

International fertilizer suppliers are in the process of purchasing the tender documents from the AISE.

Experts from the Commodity Exchange in Ethiopia are to train stakeholders and personnel of the Ghanaian Commodity Exchange according to Ms. Hanna Tetteh Ghanaian Minister of Trade and Industry.

The training is to begin in the first quarter of 2012 she said.