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The flag carrier of Ethiopia, the Ethiopian Airlines, is showing the Logo of star alliance on all its aircraft. Star Alliance will officially welcome Ethiopian airlines in ceremony to held on December 13 in Addis Ababa.

The ceremony is expected to be attended by executives of the Star Alliance and CEOs from the member airlines.

Ethiopian Airlines will be able to access 21,410 daily flights to 189 countries as part of an existing network consisting of 4382 aircraft, 409,152 employees and 652.24 million passengers per annum and 160.3 billion US dollars in sales revenue.

Zemen Bank sold 35 million birr worth of shares in six hours last week. The shares were offered to existing shareholders as per a decision reached at the annual meeting of the bank.

The annual meeting held this past September agreed to increase the capital of the bank by 100 million birr with remaining shares, after shareholders were offered shares in proportion to their existing holdings, to be sold in the month of December.

The bank management had expected to complete the sale of the shares in 30 days according to sources at the bank.

The newly appointed head of Diageo’s African Regional markets, Ekwunife Okoli will oversee the conclusion the transaction for Ethiopian Meta Abo Breweries.

The company may launch other products into the Ethiopian market after finalizing its takeover of Meta Aba said Okoli.

The 4th Ethiopian Poultry Expo and Animal Tech Show was opened yesterday. It is expected that the Expo will play a role in promoting Ethiopia’s livestock resources to the international market according to Gidey Gebre-Medhin Director General of the Ethiopian Meat and Diary Technology Institute.

The Expo will provide all necessary information to investors interested in the sector explained Gidey.

Ethiopia and South Korea signed a Memorandum of Understanding on industrial cooperation. The agreement was reached at a summit during Ethiopian Prime Minister Meles Zenawi’s visit to Seoul.

South Korea will support Ethiopia’s textile and leather sectors through sharing experience and know-how said the office of President Lee Myung-bak.

The relationship between the two countries is moving along rapidly said President Lee. He expressed hope that the visit from the Ethiopian premier will enhance cooperation.

BASF Global conducted a workshop to educate professionals on the ingredients of pills and tablets. The international chemical company provided the training to six factories in Ethiopia.

The workshop featured new technology to coat active pharmaceutical ingredients according to Asmelash Gebre Managing Director of HighCem Ethiopia PLC, local agents for BASF.

Oromia International Bank Share Company announced a net profit of 44.4 million birr. The bank’s profit exceeds that of the previous fiscal year by more than 25.1 million birr.

Oromia International Bank recorded 56.7 million birr profit before tax while its overall revenue reached 153.1 million birr.

The bank traces its success to a rewarding working environment, good customer service and a strong relationship between the board and management according to Abera Tola Chairman of the Board of Directors at OIB.

A survey conducted by Access Capital Services anticipates continued price increases in the next quarter in Ethiopia. Access  surveyed businesses and retailers across Addis Ababa for anticipated prices on their goods for a three month period. 

It is expected that 103 items of a total of 184 surveyed will increase in price in the next three months according to the survey results. Amongst items expected to increase in price are all types of meat, house rentals and construction.

The survey discovered that two thirds of the 184 items surveyed are expected to show year on year price increases in the double digits.

Ethiopia and Kenya have signed an agreement allowing for cross border public transport between the two countries. Public transport across the borders of the two countries will commence when the road project is finalized according to Diriba Kuma, Minister of Transport.

Ethiopia expects to extend cross border public transport arrangements to include Djibouti and Sudan he explained. The document establishing agreement with North Sudan has been drafted and will be completed in the beginning of the coming year noted Diriba.

Boeing is to begin a six month international tour to promote the 787 Dreamliner. The tour is expected to make a stop in Addis Ababa, Ethiopia between the 11th and 16th of December.

Ethiopian Airlines purchased 10 of the Boeing Dreamliner aircraft in 2005 and expects to take charge of two next year.

The Dream Tour aircraft has been specially fitted to highlight the capabilities of the aircraft and cabin features.