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Vehicles spare parts factory to start operations in Addis
Spread the NewsZY, the first of its kind and modern vehicle spare parts factory is poised to start operations in Addis Abeba. Media reports indicated that the first car parts factory has opened in Addis through a partnership between Ethiopian and Chinese shareholders. The factory, which was established with a budget of over 10 million Birr, is…
Breaking: Ethiopian Airlines makes 30% air fare discount for Diasporas
Spread the NewsFollowing Prime Minister Abiy Ahmed’s (PhD) call to Ethiopian Diaspora to come and celebrate Christmas and New Year, Ethiopia Airlines makes a 30 percent discount on air fare. Ethiopian Airlines, the largest in Africa, disclosed Monday that the discount will be effective for Ethiopian Diaspora’s from December 20, 2021 to January 2022. Prime…
NBE lifts transfer restrictions
Spread the NewsThe National Bank of Ethiopia (NBE) on Tuesday announced that it has removed the limits on bank transfers. The financial sector regulators restricted in January 2021, limiting account-to-account transfers to only five a week. The next month, they placed the same restriction on transfers via mobile and internet banking using Automatic Teller Machines…
Ambassador Bacha urges promotion of investments abroad
Spread the NewsAmbassador Bacha Debele (Lt. Gen), the newly appointed Ethiopia’s Extraordinary and Plenipotentiary to Kenya, urged Ethiopian Ambassadors across the world to promote investment prospects of the country. Bacha said that significant activities remain to be done to promote industrial park services. The Industrial Parks Development Corporation (IPDC) took newly appointed Ethiopian Ambassadors on…
Ethiopia’s AGOA eligibility status still undecided
Spread the NewsEthiopia’s eligibility status to the African Growth and Opportunity Act (AGOA), which gives a duty and quota free access to the country’s textile, garments, shoe, leather, footwear and others to the United States, is a pending issue, sources said. The AGOA trade program provides Sub-Saharan African nations duty-free access to the United States…
Ethiopia, Djibouti agree to build oil storage terminal
Spread the NewsEthiopia and Djibouti signed a Memorandum of Understanding (MoU) on Thursday to jointly build new oil storage terminal in Djibouti near the Damerjog Industrial Park. The agreement intends to foster a conducive environment for future joint development of oil storage terminals. The MoU was signed between Mamo Mihretu, CEO of Ethiopian Investment Holdings…