Haile Hotels and Resorts, the hotel chain owned by the athletics legend, Haile Gebreselassie, disclosed its plan to develop a world class resort in the lakeshore of Tana, Gorgora locality at a cost of more than one billion birr, it was learnt.
The Ethiopian Communication Authority (ECA) is under preparation to float an international tender that would enable it to select two international telecom firms which will operate in Ethiopia by September.
The Ministry of Innovation and Technology (MinT) has launched a new software that services the Planning and Development Commission to effectively evaluate and monitor key development goals of the country.
The Commercial Bank of Ethiopia (CBE) registered a net profit of 14 billion birr, achieving only 64 percent of its plan for the fiscal year 2019/2020. In a lamentation letter addressed to the staff, the President of the Bank, Abie Sano, stated that he has never reported such a result in his career as a banker and he lacks words to describe it.
Yetebaberut Beherawi Petroleum S.C., a local oil company founded predominantly by oil transporter companies more than 15 years ago, expressed its frustrations over the lack of access to hard currency needed to import oil products in to the country, making it difficult to operate its main line of business in the past two years, and threatening its existence, The Reporter has learnt.
Surpassing expectations, the Federal Documentation Accreditation and Registration Agency has revealed it was able to amass 522 million birr in revenue from the services it has rendered during the recently concluded fiscal year which extends from 8th July 2019 to 7th June 2020.
The International Air Transport Association (IATA) on Wednesday announced that as a consequence of the COVID-19 pandemic and associated restrictions, African airlines are forecast to lose USD two billion in 2020.
Late last year a chilly Addis Ababa morning greeted the heads of the breweries as they met a senior government minister. Eugene Ubalijoro was appointed as a spokesperson and tasked with presenting a slew of issues that the executives felt were deterring them from doing business in Ethiopia.
The Ministry of Transport has dispatched an aircraft accident investigation team to China to assist the investigation on the Ethiopian Airlines B777-200 freighter aircraft that sustained a fire accident at Shanghai Pundong Airport on Wednesday.