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Samsung introduced new products to the Ethiopian market on Thursday. At the event held at the Hilton Hotel the Korean conglomerate unveiled various products ranging from home appliances to mobile technology to distributors and other visitors.

The event was designed as a chance for Samsung to establish its African investment strategy ‘Built for Africa’ according to Tadewos Awol, Country Manager of Samsung Ethiopia. It was also a chance to showcase the latest products and technological innovations according to Tadewos.

Ethiopia is set to establish a National Accreditation Office (ENAO). The institution will be charged to accredit the competence of Conformity Assessment Bodies (CABs) performing activities like calibrations, tests, inspections and inspections.

ENAO has been organizing offices, preparing manuals and training personnel according to Nigussue Kibru Head of Communication and Public Service. 30 employees were trained by the South African National Accreditation System and three days worth of training on the General Accreditation Standard ISO/IEC17011 was given by experts from India in December he said.

Diageo plc, concluded the first 30pct down payment for the acquisition of Meta Abo Brewery. The International producer of beverages wired the first installment of payment for its purchase to the Ethiopian Privatization and Public Enterprises Supervising Agency (PPESA) account on Thursday. 

The importance of standards to Ethiopian business was underscored at the celebration of the the World Standards 2011. Standards play a very important role in technology transfer according to the Ethiopian Standards Agency (ESA). The role standards play is especially important to enable developing countries like Ethiopia to benefit from new technologies said Almaz Kahsay ESA, Director General.

Standards will also help promote trust between clients and the business community while reinforcing national and international regulations to establish a fair trade system according to Almaz. Standards also help to ensure fair and convenient circulation of products and services internationally, she said at a press conference to mark the Work Standards Day 2011.

Elsewedy Cables Ethiopia will begin producing transformer and power saving bulbs next year. This will be part of the 20 million US dollars investment the Egyptian company is expected to make in the coming year according to Ibrahim Qamar, Elsewedy General Manger.

Elsewedy is responding to the increased preference of power saving bulbs over conventional ones by the Ethiopian government which has led to more demand said Ibrahim.

The Samsung conglomerate announced plans, on Thursday, to collaborate with the Ethiopian Revenue and Customs Authority (ERCA) to halt the import of counterfeit products into the country. The South Korean Corporation is particularly interested in eliminating counterfeit products in the mobile phones sector.

Samsung plans to address the problem of counterfeit products gaining access to the African market according to Jong Oh Lee, Samsung East Africa Regional Market Director. The ‘gray’ or counterfeit products are particularly a problem in the mobile phone sector he said at a press conference at the opening of the Samsung Ethiopia Week.

Tigray Resources Inc has announced that it has completed nine diamond drill holes since mid-August in Ethiopia. The holes are approximately 1700 meters and have been completed on drill sections 80 meters apart at Terakimti and are part of ongoing exploratory drilling.

Drilling is targeting a zone approximately one kilometre in strike length identified through geological, structural and alteration mapping; gold anomalous gossan outcrops; soil geochemical anomalies; IP, resistivity, gravity and EM targeting; and results from 12 previously drilled holes.The lab is expected to deliver the results for the first eight diamond drill holes in four to six weeks.

Ethiopian Airlines began direct flights from Ethiopia’s northern regions to the Sudanese capital Khartoum on Thursday. It was announced that the new flight will takeoff to Khartoum from Bahir Dar, capital to the Amhara Regional State and Tigray's Regional State Capital, Mekelle.

Ethiopian Airlines announced that the new flight services will run four days a week on Tuesdays, Thursdays, and Saturdays and Sundays using Bombardier Q-400 Aircraft.

The MIDROC Ethiopia Technology Group announced more than 1.3 Billion birr in profits the past fiscal year, on Sunday.

The group has been able to achieve such tremendous success because of the dedication of its employees said Sheikh Mohammed Hussein Ali Al Amoudi Chairperson of MIDROC. The MIDROC Group will support national efforts towards growth and development by creating new companies and expansion he added.

The Indian agribusiness, Karuturi Global, is to outsource 20,000 hectares of land it had leased in Gambella Regional State to Indian farmers. The farmers are to cultivate the land on a profit sharing basis at a ratio of 65:35.   

The company plans to sub contract the land and necessary infrastructure to farmers who specialize in the cultivation of specific crops according to a senior Karuturi official. Karuturi has already had discussions with Punjabi farmers interested in this venture earlier this year, as part of its plans for expansion.