2merkato

Note: the veracity of this story has been disputed by the Institute if Bio-Diversity Conservation. Their correction/comment is found in the comments section.

A Netherlands company, Soil and Crop, has allegedly defaulted on an agreement with Ethiopia’s Institute of Bio-Diversity Conservation. Soil and Crop and the Institute of Bio-Diversity Conservation, Ethiopia reached an arrangement on marketing teff products in 2005.

The agreement reached between the two bodies requires Soil and Crop to acknowledge the Ethiopian origins of teff, collaborate on research programs, pay for license renewal and share profits with the Ethiopian governmental institute.

dVentus Technologies, an Ethiopian clean energy company received a US$3 million from members of the Ethiopia Angel Network.

Ethiopian Angel Investment Network, part of RENEW, is an investment firm dealing mostly with potential business in developing countries announced signing of Memorandum of Understanding with dVentus last week.

The Ethiopian Airport Enterprise is prepared to present the proposal for the construction of the new international airport to the government next week according to sources.

The new airport expected to alleviate the pressure on the busy Bole International Airport is to be constructed between Modjo and Meki.

The enterprise has conducted a study on the construction of the new airport for the past two years according to sources. The expansion work on the Bole International Airport drafted in the 90s was expected to accommodate the growth in air traffic until 2017. The airport, however reached maximum capacity in 2010 necessitating the construction of a new international airport.

Eagle Hills, Abu Dhabi-based private real estate investment and development company, launched the first residential tower in Ethiopia's capital, Addis Ababa. This residential tower resides within the 36ha piece of land the company is developing at La Gare (French for "The Station") in Addis.

East Africa Metals Inc, a company that is involved in exploring, developing and operating in mining in Ethiopia, has agreed to work with Tibet Huayu Mining Co., a Chinese mining corporation.