Ethiopian Airlines, the fastest growing and the most profitable Airline in Africa, has celebrated its ten years of continuous service to Guangzhou, the third largest Chinese city, on December 19, 2013. Mr. Zhu Qianhong Vice-President of Guangdong Airports Management Group, Mr. Melaku Legesse, Consul-General of Ethiopia in Guangzhou, graced the event.
Ethiopian Airlines celebrated its 1st anniversary as Star Alliance member in Addis Ababa. The airlines is working hard to expand its
market share in the international Air service market said Yeshak Zeweldi Ethiopian Alliances and Strategic Plan Deputy President speaking at the event.
Joining the international alliance has helped Ethiopian to expand its market share and currently the airline is servicing more than 70 international destinations in four continents.
It is to be that Ethiopian Airlines, is showing the Logo of star alliance on all its aircraft since last December. Star Alliance officially welcomed Ethiopian airlines in a ceremony held on December 13 in Addis Ababa.
Ethiopian Airlines, the fastest growing and most profitable African airline, colorfully celebrated 55 years of uninterrupted service to Frankfurt, Germany on October 24, 2013.
Ethiopian CEO, Mr. Tewolde Gebremariam, attended the celebrations in Frankfurt along with Dr. Renate Sterzel, City Councilor of Frankfurt, Dr. Stefan Schulte, Chairman of the Executive Board of Fraport AG, Mr. Mark Schwab, CEO of Star Alliance, H.E. Mr. Fesseha Asegedom, Ambassador of Ethiopia to Germany, and Ms. Dennenesh Zewdie, famous Ethiopian actress in Germany. Also present were representatives from the diplomatic community, the African Diaspora and various partners including Lufthansa, travel agencies and tour operators.
Ethiopian cement factories, Mugar and Messobo, have requested that the government halt cement imports in letters to the Ministry of Finance and Economic Development. The cement factories claimed that they can produce enough to meet local demand.
The cement factories have excess stock according to an anonymous official at Mughar. The two factories have increased their annual production by a total of 1.7 million tons following expansion projects.
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.
