2merkato

Unilever (UNA), the world’s second-biggest consumer-products manufacturer, plans to open a manufacturing plant in Ethiopia during the next year, Bloomberg reported citing a company official.

British-Dutch consumer goods giant Unilever has announced plans to reduce its global workforce, starting next month, in a bid to increase profitability. Operating in over 190 countries, including Ethiopia, Unilever employs more than 128,000 people worldwide and produces brands such as Signal, Lifebuoy, OMO, and Knorr.

Ethiopia's United Bank awarded a contract to the Lebanese-based Computer Business Machine (CBM), for the supply of 50 Automated Teller Machines (ATM), two weeks ago.

Both CBM and United have refused to disclose the price at which CBM is offering to supply the machines, due to a confidentiality agreement.

United Bank had had launched Visa card service two weeks ago, Addis Fortune reported.

United Bank registered net profit of 297.9 million for the 2011/12 financial year according to sources. The bank’s Earnings per Share stayed the same at 52.8 percent however due to the need to increase the bank’s paid up capital.

The bank’s paid up capital increased by 11 percent to 580.9 million birr it was explained that the 14th General Share holders Meeting held at the Addis Ababa Hilton Hotel.

The total capital of the bank including paid up capital, retained earnings, legal reserve and premium on shares added up to 1.1 billion birr showing an increase of 22.2 percent from the previous financial year.