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EXCHANGING NOTES |
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Prime Minister Meles Zenawi sat immersed in a discussion with Kgalema
Motlanthe (right), vice president of
South Africa, on the side of the
Africa–India Summit that was held in
Addis Abeba last week. The summit
brought together leaders from 15
African countries to meet with a
high-level delegation lead by Indian
Prime Minister Manmohan Singh. A
five billion dollar loan package was
announced to be dispersed to Africa
over the next three years, in
addition to 700 million dollars to
establish new training centres on
the continent. Trade between India
and Africa has risen sharply from
three billion dollars in 2001, to 46
billion dollars last year. |
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NEWS |
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Only Five Insurers to Cover Schengen Travellers |
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As of June 1, 2011, only five insurance companies in
Ethiopia will be accredited to issue travel health
insurance to Schengen visa holders. |
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Gov’t Looking to Buy Pet Coke |
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The Ethiopian government is to enter into
negotiations with oil producing countries to import
petroleum coke (pet coke) for distribution to cement
factories to reduce spending foreign currency on
heavy fuel oil (HFO), sources disclosed to Fortune. |
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Privatisation Agency’s Alleged Fraudster Gets More Time for
Defence |
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Ibrahim Taha, 32, who is being charged with using
forged certified payment orders (CPOs) for the down
payment on Hawassa Textile Factory and Arbaminch
Textile to the Privatisation and Public Enterprises
Supervising Agency (PPESA), was granted additional
time to present his witnesses. |
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Real Estate Firm not to Enter into Litigation with Bank over
Building |
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The Federal Supreme Court rejected Meketa Real
Estate’s appeal to enter into litigation with Nib
International Bank (NIB) on Thursday May 26, 2011
over a building owned by the latter which the bank
wanted to auction to recall a loan. |
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Court Concludes Testimonies against Awash Bank Accused |
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Witnesses have finished their testimonies against
Mitiku Abush, former vice president of international
banking of Awash International Bank (AIB), as well
as eight other defendants at the Arada Giorgis
Federal First Instance Court, Sixth Criminal Bench.
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Education Ministry Cancels Int’l Textbook Tender; Stays
Local |
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The Ministry of Education (MoE) cancelled an
international tender it had floated for the
procurement of textbooks and teaching guides to give
the linguistic project to regional government
bureaus instead as it claimed the curriculum should
be revised. |
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Berhan First Bank to Interface with Nat’l Payment System |
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As part of the implementation of centralised,
online, real-time, electronic (CORE) banking,
National Bank of Ethiopia (NBE) launched its
National Payment System (NPS) nationwide, on Friday,
May 27, 2011, when Berhan Bank became the first bank
to interface with the NPS. |
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Axum University Nears Completion Slotted for Next Month |
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Sur Construction Co is set to finish the final stage
of the expansion of Axum University, for which it
had been awarded a total of 264 million Br, by June
2011. |
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Auth. Prefers Local Firms for Roads |
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The Ethiopian Roads Authority (ERA) plans to award
the upgrading of 19.3km Kebre Mingist–Shakiso Road
from gravel to asphalt to local road construction
companies. |
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Indian Firm to Open Biggest Yarn Factory |
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CLC Industries is preparing to establish the biggest
yarn factory in the country on 50ht of land in
Kombolcha Industrial Zone, Amhara Regional State,
which it obtained from the government lease free.
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Miner to Explore for Gold with 16m Br |
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The Ministry of Mines (MoM) signed an agreement with
Ambo Gnemer Agro & Integrated Industries for the
exploration and extraction of gold and raw materials
for a cement factory with an investment of 15.7
million Br on Thursday, May 26, 2011. |
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Search Globally, Assemble Locally |
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The International Automotive & Industrial
Engineering Trade Fair opened on Wednesday, May 25,
2011, at the Addis Abeba Exhibition Centre. The
trade fair, which has become an annual fixture for
showcasing the latest trends in the automotive
sector, integrated industrial engineering as a
component in the event that was themed, “Scan
globally, renovate locally.”
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