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Wage
Increases, Pension Adjustment to Cost Government 2.2B Br |
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The latest decision by the federal
government to increase wages for the civil
service and adjust pensions would cost it a
total of 2.2 billion Br. Federal government
authorities hope that surfing within the
already approved budget for the current
Ethiopian fiscal year, 43.9 billion Br,
would spare the government from domestic
borrowing, and widening the budget deficit. |
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Arkebe Back on the Scene |
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The Cabinet of the Addis Abeba City Caretaker
Administration has appointed Arkebe Oqubay, state
minister of Works and Urban Development (MoWUD), as
Board Chairman of the Addis Abeba Housing
Development Project Office (AAHDPO), replacing
Wubishet Berhanu (PhD), the city manager, who led
the Project Office for a year and five months.
Before the Caretaker Administration came into being,
the Project Office was formed by the provisional
administration that was headed by Arkebe,
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Addis to Get 50 Three-Star Plus Hotels |
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The Prime Minister’s Office ordered the Addis Abeba
City Caretaker Administration to prepare plots
suitable for the construction of 50 hotels. The City
Administration, subsequently, screened convenient
plots parcelled from various governmental agencies
of the city. |
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MIDROC,
Varnero Short-Listed for State Insurance Building
Construction |
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MIDROC Construction Ethiopia and Luigi Varnero
Impresa Costruzioni Plc (Varnero) have been
short-listed for the financial tender the
state-owned Ethiopian Insurance Corporation (EIC)
issued for the construction of a 14-storey structure
at the projected cost of about 120 million Br. |
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Wind Power to be Generated in Tigray Region |
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One of
the three suitable places in Ethiopia to install wind
turbines for the generation of sustainable wind energy, the
Ashegode area of the Tigray Regional State is set to become
the first host to the towers. The feasibility study was
partly conducted by GTZ, a development organization from the
largest wind energy producing country in the world, Germany. |
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Ethio-Djibouti Fibre Optic Negotiation
Resumes |
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The negotiation on linking the Ethiopian fibre
optics line with the Djiboutian marine cable begun
two years ago and interrupted for months, has now
resumed after the arrival of the Djiboutian telecom
delegation held talks with experts of the Ethiopian
Telecommunications Corporation (ETC) two weeks ago. |
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Lame Fails to Take Over Dairy Enterprise |
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Lame Dairy Plc, a subsidiary company of MIDROC,
which won the second tender floated by the
Privatisation and Public Enterprises Supervisory
Agency (PPESA) as the sole bidder two months ago to
buy the Dairy Products Development Enterprise for 62
million Br failed to take over the Enterprise due to
non-payment. |
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Access Bank to Get Headquarters
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Access Bank SC, the latest private bank to have
joined the sector, is set to launch its headquarters
in the 10-storey Abebech Metaferia Building, erected
on a 436sqm plot where the old milk house villa
rested, in Kazanchis. The Bank, together with its
two sister companies, Access Capital and Access Real
Estate, will pay 350,000 Br rental per month for the
total structure; the former pays 71.4pc while the
latter will pay the balance. |
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Shortage Pushes Brewers to Import Bottles |
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Bottle shortages are pushing the three state-owned
brewers to import 10 million bottles at about 20
million Br as the only domestic bottle producer,
Addis Abeba Bottle and Glass SC, has failed to meet
the increasing market demand. |
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Ministry to Import Fertilizer |
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Last year, the Ministry planned to buy 650,000tn of
fertilizer while it still had a surplus of 145,000tn
from the previous budget year, and it announced a
tender for the gap to be filled. But it could only
get 275,000tn and from the projected need of
355,000tn. |
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Addis
Modjo Edible Oil Complex Stops Production |
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Addis Modjo Edible Oil Complex SC, which has a
production capacity of 50,000lt in a day, has now
stopped production for 12 days, and failed to
produce 600,000lt of edible oil, implying a 6.75
million Br loss in revenue.
The factory was suffering a shortage in supply and
increasing raw material costs, and is now servicing
it boiler. It stopped production last week and
expects to resume next week. |
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CUDP Calls for Market Interventions |
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The Coalition for Unity and Democracy Party (CUDP)
called on the government to intervene in the market
to curb inflation. The seven points of which CUDP
made public on August 30, 2007, include subsidies
and suggestions for further studies. |
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Districts to Reform Administrative Structures |
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The Directorate set up by Berhane Deressa, mayor of
Addis Abeba, to assist him on major issues of the
city, is to present its first district reformation
study next week. If the City Cabinet comes to terms
with the Mayor and approves it, the findings of the
study would be implemented, a Directorate member
told Fortune. |
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Great Run Postponed at 11th
Hour |
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The 2007 Toyota Great Ethiopia Run scheduled to take
place next week Sunday has been postponed for two
months at the 11th hour on security grounds.
Disappointed by the move to cancel the scheduled
event, organisers of the Run claimed to be unaware
of the development prior to the decision made by the
government. |
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