The Geneva based Arbitration Tribunal, operating under the auspice of the International Court of Arbitration of the International Chamber of Commerce- rejected all of PetroTrans’ claims of unlawful termination of the Calub and Hilala Gas fields’ appraisal and development agreement signed with the Ethiopian Ministry of Mines in July 2011.
A tripartite meeting between Ethiopia, Sudan, and Egypt started in Addis Ababa this morning. A continuation of the Khartoum meeting held last month, today's meeting in Ethiopia holds as agenda the filling and operation of Ethiopia's Grand Ethiopian Renaissance Dam (GERD) on the Nile.
Trybus Group, a Texas-based menswear clothing company, started exporting by dispatching 4,000 men’s suits worth $60,000 from Kombolcha, Ethiopia on May 22, 2019.
Tsehay Industrials plc is to takeover the publicly Kality Metal Products Factory three months after being declared the winner in the privatization bid tendered by the Ethiopian Privatization and Public Enterprises Supervising Agency.
The handover process was delayed for three months while the agency reviewed the company’s financial capacity to run the factory once it takes it over. Tsehay acquired the manufacturing company for 55 million birr and has paid 35% pre-payment and will pay the remaining 65% over five years.
Tsehay Insurance S.C. has reported 11.6 million Birr profit after tax, a 185.7% increase from last financial year, Fortune reported. Accordingly, the company's earnings per share (EPS) have almost doubled to 32 Birr.
