The Ethiopian Commodities Exchange (ECX) is to offer 80 more full membership seats according to members. The seats will
be offered to traders who have had limited membership rights so far. The additional seats will be sold in auction in November.
The auction will only be made open to those who have been involved in trading at the ECX.
Add a comment Add a commentThe volume of commodities exchanged via the Ethiopian Commodities Exchange (ECX) exceeded 500,278 tonnes in 2003. It was announced yesterday that trading for this last Ethiopian fiscal year has shown an increase of 128% over the 223,000 tonnes traded last year, in a report given by Dr. Eleni Gebre Medhin, CEO of ECX at the Sheraton Addis.
The commodities exchange market saw a marked increase in trade and sound financial showing to match expanding operations in 2003 (Ethiopian Calendar) said Dr. Eleni.
Add a comment Add a commentTwo Indian leather development institutions said they were determined to make Ethiopia one of the top 10 countries in the world in shoe and leather manufacturing in three to five years.
Central Leather Research Institute (CLRI) and the Footwear Design and Development Institute (FDDI), Indian government institutions, are going to work with the Ethiopian Leather Industry Development Institute (ELIDI).
The Indian institutions said they would transfer technology and help accelerate the growth of earnings from Ethiopia's leather and leather products export.
Add a comment Add a commentIstanbul Gas Cylinder Manufacturing Plc of Turkey is going to start distributing liquid petroleum gas (LPG) as of
next week. The company is a joint venture with TIRET, the Amhara Endowment Fund.
Istanbul Gas has taken a one hectare plot of land out of 130 owned by TIRET in Sheno, Ahmara Regional State, for filling cylinders with LPG.
Istanbul Gas has already imported 22,000 tonnes of gas from Sudan and four depots through which 6,000 cylinders will be filled, Nuzet Erdogan, owner and general manager of the company, said.
Add a comment Add a commentEthiopia’s revenue from textile exports over the last two months hit 18.5 million dollars, up from 11.6 million dollars in the same period the previous year.
Textile products that contributed to the increase of the revenue included yarn and thread, garments, clothes and weaving products which contributed 4.8 percent, 9.percent, 78 percent and 8.2 percent respectively.
Late in July, it was reported that Ethiopia had earned 62.2 million dollars from the export of textile in the fiscal year to 7 July 2011 achieving 73.1 percent of its projection. The amount is a 178 percent increase from the previous fiscal year’s earning which was 23.2 million dollars.
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