Ethiopia exported 43,481.02 tons of coffee in May this year, exceeding its target by 105%. The export was accompanied by a revenue increase, generating USD 209.54 million, which surpassed the planned income by 107%.
Ethiopia's Construction & Business Bank posted a net profit of 110 million Ethiopian birr in the 2012/13 Ethiopian Fiscal Year.
The Bank has also earned a total income of 488.1 million birr, surpassing the previous year's earning by 46.5 million birr.
Ethiopia's consumer price rose to 8 percent in July up from 7.4 percent in June, Fortune reported citing the latest Consumer Price Index released by the Central Statistical Agency.
The year-on-year food inflation in July was 5.8 percent from 3.7 percent in June, while non-food inflation was 10.5 percent in July from 11.9 percent in June.
Ethiopia's Cooperative Bank of Oromia S.C. has reported earning of 263.75 million Ethiopian birr Gross profit in the 2012/13 fiscal year.
At a meeting held on Saturday August 10, 2013 at Saro-Maria hotel, the executives of the Bank stated that this year’s performance has shown an increase of 88.70 percent compared to the previous year’s performance, which was 139.8 million birr.
Ethiopia’s mega dam on the Nile River, the Grand Ethiopian Renaissance Dam (GERD) will be completed in four years, by 2022, a senior official said.
The GERD, which was originally scheduled to be completed and go operational in 2017, was launched in April 2011. This comes at least four years behind schedule, which is mainly due to defects with the hydro electrical plant’s equipment.
