Archive for the ‘Economy’ Category

ICM Awarded Ethiopia Airlines Warehouse Project

Monday, September 24th, 2012

ICM Airport Techniques was awarded the turnkey project to construct a cargo warehouse for Ethiopian Airlines. The warehouse to be constructed is intended to be able to hold 1.2 million tons of cargo every year.

Ethiopian Airlines launches new Dreamliner flights to Washington

Monday, September 24th, 2012

Ethiopian Airlines recently received its first 787 Dreamliner airplane, the first in the world after Japan and the first in Africa, and next week travellers can be among the first in the world to travel on the new aircraft.

Ethiopia Feb inflation rises on food prices

Monday, March 12th, 2012

ADDIS ABABA, March 12 (Reuters) - Ethiopia's year-on-year rate of inflation rose in February to 36.3 percent from 32 percent a month ago, official data showed on Monday.

Travel groups pour into open-for-business Africa

Friday, March 9th, 2012

* China, Middle East-led investment * Hotel chains eye oil hot spots for new sites * Ethiopian Airlines sees greater competition BERLIN, March 9 (Reuters) - The world's big hotel chains and airlines are rushing to serve new corporate customers in Africa, as Chinese and Middle East investment boosts business interest in the resource-rich ...

Ethiopian tops Forbes 2012 Black Billionaires list

Friday, March 9th, 2012

The Ethiopian-born Saudi billionaire ousted Nigerian billionaire Aliko Dangote, worth US$11.2 billion. Dangote, who is ranked second, remains Africa's wealthiest individual. Al-Amoudi, 67, is the 61st richest person in the world. He is presently involved in various construction projects in Ethiopia, where he has invested more than US$2 billion.

Ethiopia to Enact Stricter Regulation on Petroleum Industry

Friday, March 9th, 2012

The Ministry of Water and Energy is preparing a draft proclamation to properly regulate the petroleum industry in Ethiopia according to Wendimu Tekle, State Minister for Water and Energy.

Alecto Minerals seals Ethiopia gold acquisitions

Wednesday, March 7th, 2012

Alecto Minerals (LON:ALO) today confirmed it has completed its acquisition of the Aysid-Metekel gold project in Ethiopia. It has also made the first share based payment for the separate acquisition of the Wayu Boda gold project, which is also in Ethiopia.

Ethiopian Export Earnings Exceed $1.3 billion

Wednesday, March 7th, 2012

Ethiopia has earned 1.35 billion US dollars from the export of various goods in the first two quarters of the Ethiopian financial year according to the Ministry of Trade. More than 35 kinds of agricultural and industrial products were exported to and estimated 120 countries across the world during the course ...

Ethiopian Plans to Undercut Go-Betweens in Flower Export

Tuesday, March 6th, 2012

A decision by the management of the Ethiopian Airlines’ Cargo Division to launch a service to take horticulture products from farm gates all the way to auctions in Europe, thereby cutting out companies in the middle, has brought fierce resistance from industry operators. The Airline management has announced its plan of ...

Agricultural Products Price Continue To Rise

Tuesday, March 6th, 2012

Long time businessman at Merkato Ihil Berenda, the largest grain market in Addis Ababa says the dramatic rise in food prices is uncommon this time of year. Teff, Wheat, Barley, chilly and green pepper, coffee and oil have all risen dramatically. The only exception is garlic which has dropped in ...