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Local firm receives award for promoting hotel brands

The Global Brands Magazine (GBM), a UK-based publicationdevoted to news and opinions on brands that are shaping the future of their industry,has recognized Calibra Consultancy and Business PLC for its efforts in promotinghotel investment and branding in theEthiopian hospitality sector.

Saudi energy firm awarded first solar project under PPP

A Saudi Arabian firm, ACWA Power, has won a USD 300 million worth solar Public Venture (PV) contract, becoming the first private company to win a mega project under the Public Private Partnership (PPP), after the PPP Board of Ethiopia approved the bid summited by the firm.

Qatari hospitality giant to invest Euro 500 mil in Africa

The Qatari hospitality giant, Katara Hospitality, is said to be conducting its due diligence to invest Euro500 million in the African hospitality market, targetinga chain of hotels and convention centers to be built across the continent, The Reporter.

Mayoral gratitude

Dashen Bank S.C has opened its newly designed branch office, named after Ethio-Saudi business tycoon, Sheikh Mohammed Al Amoudi, who is now believed to live in the Kingdom of Saudi Arabia after being released from prison having spent a year and half behind bars in connection to corruption charges in Saudi Arabia.

Inflation surges to seven year high

With no signs of abating, the consumer price index inflation in Ethiopia is reported have reached a seven-year high in the just ended month, intensifying fears that it might exacerbate the already distorted macroeconomic situation in Ethiopia, The Reporter has learnt.

KEFI to start next phase development in Tulu Kapi Gold 

Kefi Minerals Plc, a UK-based gold exploration and Development Company, and its Ethiopian subsidiary Tulu Kapi Gold Mine Share Company Limited, which it owns in partnership with Ethiopian government, are set to start the next phase of the development of its mining concession in October, 2019, The Reporter has learnt.

Abandoned wheat shipment faces contamination

Despite the country facing shortages in wheat supply, 2300 metric tons of wheat import stored at the Port of Djibouti for more than five months, has been exposed to contamination, The Reporter has learnt. The import is thought to be worth around USD one million.