Archive for the ‘Business’ Category

APA-Ethiopia’s export revenues shows $ 800 million decline in the past nine months from what the government initially projected to be $ 1.8 billion, local media reported on Saturday The $1 billion export revenue was secured from the export of more than 34 items during the past nine month’s period. According to the Reporter Newspaper, the decline shows a 43 percent short of the government target. “While the ... Full story

Ethiopian Prime Minister, Meles Zenawi, received here today Foreign Minister, H.H. Sheikh Abdullah bin Zayed Al Nahyan, who arrived earlier in Ethiopia as part of his tour of a number of African countries. The Ethiopian premier warmly welcomed Sheikh Abdullah, who expressed the hope that his visit to Ethiopia would boost relations of friendship and joint cooperation ... Full story

THAINDIAN NEWS-A little noticed story amid the economic gloom is how India’s ties are on a steady climb with Africa, a typical example being the way Ethiopian firms prefer to partner with India Inc that has emerged relatively unscathed from the current global financial crisis. India had the largest presence at the annual Addis Chamber International Trade Fair organized by Addis Ababa Chamber of Commerce and ... Full story

PR WEB-iVeri Payment Technologies (pronounced "ivory"), a leading provider of multi-channel e-payment solutions, has licensed its Payment Gateway and MiCard™ e-payment processing solution to Dashen Bank SC, a private commercial bank in Ethiopia. iVeri's Payment Gateway will help Dashen Bank to become the first bank in Ethiopia to acquire mCommerce, eCommerce and Mobile merchant transactions. The ... Full story

(Capital)-The new cement factory share company; Habesha, is to float an international tender in the coming weeks to invite equipment suppliers with vendor finance from international financial institutions. The invitation will include construction of the cement factory scheduled to commence in September 2009 at Holeta, 35km west of Addis Ababa. A source from the managing staff of ... Full story

The failure of car owners to pay customs duties imposed by the former customs authority following a duty free import scandal two years ago has left insurers owing millions of birr. A few years ago, the federal government issued duty free importation incentives with the intention of drawing citizens residing abroad back home. The incentive was designed ... Full story

Japanese trading houses are in talks with Ethiopian coffee exporters to resume purchases of beans from the Horn of Africa country, a year after imports were slashed when several contaminated shipments were discovered. “Some Japanese businesses are seriously negotiating with Ethiopian businesses for the resumption of imports to Japan,” Kinichi Komano, Japan’s ambassador to Ethiopia, said ... Full story

Zed's, the famed Ethiopian restaurant in Washington DC, is to open a second restaurant in Prince William county, Virginia, the Washington Business Journal reports. The new restaurant is called Zed’s Bistro & Wine Bar, and features outdoor seating, a large bar and an open kitchen, according to the report. The new restaurant is located at 6850 Piedmont ... Full story

In the first visit of an Israeli minister to Ethiopia in five years, Regional Cooperation Minister Silvan Shalom blocked an anti-Israel decision from being passed at a the Assembly of the Inter-Parliamentary Union (IPU), which met Monday in Addis Ababa. Shalom arrived in the Ethiopian capital as head of a Knesset delegation to the event, accompanied by ... Full story

The Addis Ababa City Housing Development Program (AACHDP) summoned at the end of last week, 4500 city dwellers whose names were on the waiting list for the fourth round condominium lottery drawn a month ago. The lottery was to distribute 15,000 individual apartments to the winners. AACHDP called in those on the waiting list when only 10 ... Full story