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Ethiopian Reinsurance posts gross profit of 220 mln Birr
Spread the NewsEthiopian Reinsurance Share Company (Ethiopian Re) said Thursday that it has registered a gross profit of 220 million Birr in the concluded fiscal year on June 30, 2021. The registered profit is higher than previous year’s performance by 34 million Birr, said Hailemariam Assefa, Chairperson of the Board of Directors at Ethiopian Reinsurance…

Derba Cement attacked by unidentified men
Spread the NewsUnidentified men have attacked Derba Cement Factory PLC. The attack was perpetrated by a group of men on December 19, 2021. They have destroyed and burned down the most expensive machineries. As a result the factory has ceased its production, sources told Origins Media. In addition to the cement it supplies to the…

Glocare Pharma Factory inaugurates at Kilito Industrial park
Spread the NewsGlocare Pharma Manufacturing PLC, India’s company, has inaugurated its pharmaceuticals investment project at Kilinto Industrial Park. As the country is importing approximately more than 85% of pharmaceutical products, this investment project is believed to add a significant value to the sector by substituting imports, contributing to export, creating employment opportunities, improving access to…

Addis ready to host AU delegates
Spread the NewsMinistry of Tourism and Hoteliers said they are ready to host delegates of the 35th Ordinary Session of The Assembly of the African Union (AU). Ministry of Tourism has organized briefing and consultative training session for hoteliers in Addis Abeba. The briefing program led by Sileshi Girma, State Minister of Tourism stressed on…

Enterprise garners 386.7 mln Birr in six months
Spread the NewsThe Ethiopian Postal Services Enterprise (EPSE) has garnered 386.7 million Birr in six months of this fiscal year. The performance was 110% of its initial plan of 351.1 million Birr. EPSE’s six months performance appraisal has conducted by Habtamu Hailemichael, Director General of the Public Enterprises Holding and Administration Agency. Improvement of postal…

Dashen Bank profits 2.4 bln Birr before tax
Spread the NewsDashen Bank, among the most profitable banks in Ethiopia, has reported an annual profit of 2.4 billion Birr before tax during the financial year concluded on July 2021. Dashen mobilized 21.1 billion Birr in deposits, and its total deposit has reached 74.6 billion Birr, which registered 39.4 percent increase from last year’s performance,…