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Wegagen profits a billion birr

Wegagen Bank has become the third private bank in the industry to gross a billion birr profit before tax following Awash and Dashen banks. Wegagen profited 1.05 billion birr before tax.

Oromia grosses 938 mln profit

Oromia International Bank SC (OIB) bagged a record high profit where its profit before tax, as of June 30, 2018 skyrocketed by 140 percent to 938 million birr.

Manufacturers lament new electric tariff as exaggerated

Following the adjustment of electricity tariffs ranging from 30 percent to 90 percent, which is expected to enter into effect in the upcoming month, industrialists across Ethiopia are criticizing the increments claiming that it is over-inflated and requested the tariff to be revised.

MetEC-made cable fails the LRT

The Addis Ababa Light Rail Transit (LRT) standard gauge network which operates on an expanse of 34 kilometers in two directions has suffered a major setback caused by inferior signaling and communication cables, apparently manufactured by the Metal Engineering Corporation (MetEC), The Reporter has learnt.

Authority defies Uber-style taxi service

The Addis Ababa City Transport Authority has reinforced the ban imposed on a text and call taxi services platform—Ride—and the 900 or so drivers registered under Ride with a strong warnings to halt their operations immediately.

OIB grosses 938 min profit

Standing at the tenth year of its establishment, Oromia International Bank registered a record 140 percent growth in its gross profit level bagging 938 million birr in the FY 2017/18.