2merkato

Lion International Bank (LIB), one of Private Banks in Ethiopia has secured 663.6 million Birr in revenue in 2014/15 budget year, Capital reported.

Libya Oil Limited disclosed on September 3, 2015, at Sheraton Hotel that it has changed the packaging and labeling of its products with 48 million Birr cost, Addis Fortune reported.

The Ministry of Mines, Ethiopia, is to resume licensing for mineral exploration. The ministry is expected to begin accepting new applications for licensing in mineral exploration next month according to Sinkenesh Ejigu Ethiopian Minister of Mines.

It is to be remembered that the ministry halted the issue of new licensing in mineral exploration to evaluate operators already in the sector before issuing new permits.

Lifan launched its latest model assembled in Ethiopia, the SUV X-60. The new model will be the seventh to be introduced by the Chinese company in Ethiopia.

Lifan has already sold 60 of the X-60 in the first weeks its been out according to sources within the company.

The X-60 is a sports utility vehicle which is effective on both asphalt and gravel roads, sporting a 1800cc horse power engine designed in cooperation with British Engine manufacturer RICARDO. The external body of the car resembles that of a Toyota RAV 4.

Lifan Motors announced that it was producing more 620 models to meet the rising demand for the automobiles in the local market.

It used to take the company more than a month to assemble the 620 models after payment, depending on how long it took to ship in parts from China and process customs documents for components clearance.

Lifan assembles other models of cars but they are not available on immediate delivery basis. It takes the company two months to give out the 520 and four months for the 320 to customers.