Last Sunday, May 3, 2009, was an untoward day for
the owners and employees of Wabi Shebelle Langano
Resort Hotel. At the time it caught fire at around
7:30pm over the weekend, the state-owned resort
hotel, situated about 200Km south of Addis Abeba,
was staging two wedding ceremonies attended by about
250 people. That figure excludes the more than 160
people who were having drinks in the bar and on the
verandah. There were also people on the Lake Langano
shoreline, in the jungles surrounding the resort and
around group and individual camp fires. Everyone was
focused on having fun to make their weekend
memorable.
None of them had imagined just how memorable it
would be, not in a good way though; their joy did
not last long. The accidental fire, caused by a
small burning fir that hit a grass roof, turned the
ecstasy in the air into gloom, and the roofs of the
bar and the kitchen of the resort into ashes.
Visitors to the resort and residents from the
neighbouring villages were left stunned as the blaze
raged that fateful afternoon.
NBE Reacts to Exporters Alleged Abuse of
Forex Incentives
The National Bank of Ethiopia (NBE) has requested
all state and private commercial banks to send it a
list of names of clients who request to be the only
beneficiaries of the foreign currency from their own
export proceedings to open letters of credit (L/Cs)
for their imports.
Police Probe Abebaw, Menweyelet on Abyssinia
Bank's 57m Br Claim
Granted a bail bond for 50,000 Br and 30,000 Br by
the Federal High Court, Abebaw Desta and Minweyelet
Atinafu, respectively, were taken by investigators
back to the Forensic Department of the Federal
Police, a.k.a Maekelawi, on Dejazmatch Belay
Zeleke Street.
Amde Akalework, managing director of Habtewold
International Commission Agent, is one of the 152
clients Habitat-New Flower Homes Plc has entered
into an agreement with to develop an entirely new
suburb around Kality area, in the eastern periphery
of Addis Abeba.
Thirst
Quenchers More Costly as Soft Drinks Prices Rise
The two soft drinks manufacturers, East Africa
Bottling S.C. (EABSC) and Moha Soft Drinks Industry
S.C., made an official price increase on each of
their product a week ago.
Prosecution Rests Case against Nile
Shareholders, Former Managers
The Federal High Court heard on Thursday, May 7,
2009, eight witnesses brought by federal
prosecutors, who accused shareholders and former
senior managers of Nile Insurance S.C., and
companies owned by some of the defendants of
complicity in unlawfully benefiting from the private
insurance firm.
A consortium formed by two humanitarian
organizations, the Oromia Regional Government and
two of the higher institutions in the region, is to
set up a mega sericulture and silk factory in
Wolliso town of Southwest Shewa Zone of the Oromia
Regional State.
The amendment on the 1960 Civil Code on an article
related to mortgages collateral matters moved one
step forward in Parliament when last Thursday, May
07, 2009, the Civil Code Amendment Bill was sent to
the Budget and Finance Standing Committee for
further scrutiny.
French Loan of over 208m Br to
Swirl Ashegoda Wind Power
The state power utility, the Ethiopian Electric
Power Corporation (EEPCo) last week secured a loan
of 208.6 million Euros from a French financier for
the construction of its much awaited Ashegoda Wind
Power Project.
The Revenue and Customs Authority (RCuA) late last
week warned 500 individuals, who used the duty free
privilege to acquire vehicles passed on to them from
primary beneficiaries, about their failure to
finalize the tax amount due.
Local Pharmaceutical Firm
Receives Int’l Accreditation
Sino-Ethiop Associate (AFRICA) Plc, a pharmaceutical
company in Kality District of Addis Abeba, yesterday
received official international Good Manufacturing
Practices (GMP) certification.
Business Magnate Ventures into
Hospitality Industry
Getu Gelete, owner of
multiple business conglomerates in town, has now
entered the hospitality business with the
construction of a new hotel apartment.
In an investment performance race held 273Km south
of Addis Abeba, 15 investors doing businesses in
Hawassa Town were yesterday awarded by the town’s
administration.
