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An American vessel with the flagship "Jacksonville"
arrived, late last week, at the Port
of Djibouti, carrying 42,000tn of wheat to be
distributed to hungry people in Ethiopia. This
amount will cover part of the 391,651tn of food aid
needed for the next six months in order to feed 4.6
million people living in the nine regional states,
according to a revised figure disclosed last week by
Simon Mechale (pictured far right), general director
of the Disastrous Prevention and Preparedness Agency
(DPPA). |
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Authority Plans Power Export to Kenya From Gibe II |
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Authorities at the state owned Ethiopia Electric
Power Corporation (EEPCO) and Ministry of Mines and
Energy (MoME) are contemplating exporting power to
Kenya from Gilgel Gibe II Hydropower project. The
two countries signed a memorandum of understanding
on trade in power two years ago in Addis Abeba. |
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Franco Valuta
Cement Import Resumes |
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The government is, once again, allowing the
franco valuta import of cement due to the
escalating price of the commodity. The Ministry of
Trade and Industry (MoTI) announced that it would
permit companies to import cement duty free. |
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City Authority Requests
Release of 1.1.b Br for Land Development |
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The Addis Abeba Land Development and Administration
Authority (AALDAA) has requested for 1.1 billion Br
from the City Finance and Economic Development
Bureau for the infrastructural development of
2,000hct of land. AALDAA would distribute the land
to prospective developers in the next budget year.
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Oromia Bank Promoters Penetrate Insurance
Market |
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Departing from its normal banking business, Oromia
Bank has begun floating shares for the establishment
of an insurance company. The promoters hope to raise
an initial subscribed capital of 100 million Br, and
a paid up one of 25 million Br. |
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Yayu Coal Reserve Set to Produce Fertilizer,
Energy |
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In two months time, the Federal Government will
decide on the final fate of Yayu Coal Reserve in
Illubabor Zone of the Oromia Regional State, Girma
Birru, minister of Trade and Industry, told
Fortune. Authorities have been considering the
production of fertilizer and energy from the site. |
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Swim or Sink Together: Meles Tells Europe |
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Prime Minister Meles Zenawi told European trade
negotiators that their continent’s destiny is joined
at the “hip” to Africa, thus it has the choice to
either sink or swim together. |
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Tax Revenue Deficit 4.4b Br below Benchmark |
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The Federal Government has failed to achieve the
20.8 billion Br it had planned to collect in the
form of taxes over the past 10 months of the fiscal
year by 4.4 billion Br. The year-end target stands
at 26.3 billion Br. |
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Number
of People Needing Emergency Assistance Rises to 4.6m |
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The Disaster Prevention and Preparedness Agency (DPPA),
a government institute in charge of organizing
relief works and currently under restructuring,
divulged in its latest report that eight regions
were seriously affected by the current drought. |
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Over 41 Million Br worth Hotel for Adama |
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A
businessman has inaugurated a modern hotel complex
in Adama (Nazareth) town on June 14. Constructed at
a cost of 41.16 million Br, the hotel, named Adama
German, is owned by German Amenti. |
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Court
File Error Adds Three Days to Former CBE Executives' Jail
Time |
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Former executives of the Commercial Bank of Ethiopia
(CBE), spend three extra days in jail following the
citing of a wrong file number at the Federal High
Court. The file number for the case on the
defendants, Tilahun Abay et al was 14372, yet a
release letter issued by the registrar of the court
erroneously stated the number as 14371. This caused
a delay in the release of the bankers, who had
already served a jail term equivalent to their
sentence. |
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English FM to Roar in Addis |
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The first English FM radio is to start broadcasting
in Addis Abeba. Paconet Media Plc, a company
established in January 2008, last week received the
green light from the Ethiopian Broadcasting
Authority (EBA) to join the private Commercial
Broadcasting Service scene in Addis Abeba. |
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Adama to
Raffle Over 1,000 Condos |
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More than 13,000 residents of the town, fervent to
get housing facilities, have registered at their
kebeles for these condos and most of them are
worried that the large disparity between the
available houses and the number of people looking
for them may make the handing over process slow. |
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Ethiopian
Ties Code Knot with Brussels Airlines |
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The code-sharing would take effect as of June 17,
2008, bringing passenger added convenience while
further strengthening Ethiopian’s flight network
between Addis Abeba and Brussels, read a press
statement Et sent to Fortune. |
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Integrated Land Information System to Monitor
City Changes |
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The Addis Abeba Land Development and Administration
Authority (AALDAA) is to establish an integrated
land information system at a projected cost of 73.8
million Br. The system would enable the
administration to monitor changes in land holdings
of the city networking Districts to the centre.
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Second
Zoo for Addis |
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A
proposal to establish a second zoo in Addis Abeba is
to be presented to the cabinet of the new
Administration. The zoo would be located in Central
Park, behind Peacock Restaurant on Africa Avenue.
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