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Updates on Business and Economic news, Ethiopia

Postby YEBANDAMERZE » 09 Jun 2010, 11:40

These are updates as posted on one of my favorite Ethiopian websites.

Ries Engineering SC signed an agreement with Ford Motor Company to be its local representative.

Via an ongoing process that started in January 2010, Ries Engineering SC has agreed to import light and heavy Ford vehicles including the Ford Ranger pickup, Ford Everest, and Ford Fiesta sedan, Fekadu Mengist, deputy managing director of Ries Engineering SC, said.

Other companies had competed for the deal, although he declined to name any of them. Only three of these companies were among the final choices for the company, which decided to settle for Ries, he said.

“Our agreement with Ford is significantly important, not only because we can import new vehicles, but also because we can service the already imported vehicles,” he said. “We are going to give maintenance services and provide accessories to Ford vehicles.”

The first 25 vehicles have reached Djibouti Port and are due to reach Addis Abeba within three weeks, the deputy managing director said. The company will officially launch the market in September 2010, he assumed.
Ford Motor Company had been represented by Ethio Investment Group for the local market in Ethiopia. But, following the Ethio Investment Group’s bankruptcy in 2009, there was no local representative of Ford.
Last edited by YEBANDAMERZE on 20 Oct 2010, 23:09, edited 2 times in total.

Updated on business & economic news:Ethiopia

Postby YEBANDAMERZE » 09 Jun 2010, 11:45

Multiplex 3D movie theatre in Addis Ababa
By Binyam Tamene

Moviegoers in Ethiopia are set to enjoy 3D technology for the first time at the end of this month at Edna Mall Matti Multiplex.
The technology being installed in Ethiopia’s first three screen cinema has cost Matti Cinema about three million birr. Because of this outlay, tickets for 3D films could be around 50 to 60 birr, which is more expensive than for regular movies.
Last edited by YEBANDAMERZE on 02 Sep 2010, 05:03, edited 1 time in total.

Updates on business & economic news:Ethiopia

Postby YEBANDAMERZE » 09 Jun 2010, 14:07

June 9, 2010, 1:02 p.m. EDT · Recommend · Post:

Allana Potash Announces 10,000 Metre Expansion of Drill Program in Ethiopia and Provides Drilling Update
TORONTO, ONTARIO, Jun 09, 2010 (MARKETWIRE via COMTEX) -- Allana Potash

Corp. /quotes/comstock/11v!aaa (CA:AAA 0.32, -0.09, -22.22%) ("Allana" or the "Company"), is pleased to announce that it has engaged Meridian Drilling Ltd. ("Meridian") to complete an additional 10,000 metres of core drilling at its Ethiopian Potash Project in the Danakhil Depression. Meridian, formerly the exploration drilling division of Emerson Moore Drilling, has been drilling on Allana's potash project since April. A second drill rig and equipment capable of drilling to a depth of 800 metres is being mobilized to the project to enable testing of the potash horizon in the centre portions of the evaporate basin.

Drilling is progressing on the project and hole DK-10-03 was recently completed to a depth of approximately 208 m. The drill rig is currently drilling hole DK-10-04 in the centre part of the basin, approximately 2 km south of the Crescent carnallite deposit. In this area, two Parsons drill holes intersected thick (approx. 45 m) zones of potash mineralization. Hole DK-10-03 has been logged, sampled and the samples have been shipped to the lab for analyses. Assay results for the three northern holes targeting the extension of the Musley Deposit will be released as a group when all results have been received from this final hole.
Last edited by YEBANDAMERZE on 02 Sep 2010, 05:05, edited 1 time in total.

Re: New FORD dealership in Ethiopia

Postby EPRDF » 09 Jun 2010, 15:51

These days I aint google nowhere in cyber to search for a good news. I click YMZ in this site and all I need is right there.
Thanx Merze-shaabia keep up. You have been entertainig me a lot while you have been giving for some a high blood pressure.

Re: Updates on Business and Economic news, Ethiopia

Postby YEBANDAMERZE » 09 Jun 2010, 22:11

The Ethiopian parliament approves the loan for construction of hageremeriam-yabelo-mega road, which is part of the Ethiopia-Kenya road.
House approves two bills, refers two others
Addis Ababa, June 8, 2010 (Addis Ababa) - The House of Peoples Representatives endorsed two bills and referred two others to the pertinent standing committee at its 30th regular session of the 5th year tenure held here on Tuesday.

The House endorsed the bills for loan agreements signed between Ethiopia and the Kuwait Fund for Arab Economic Development (KFAED) and also Ethiopia and the African Development Fund (ADF).

The loan agreement signed by Ethiopia and KFAED will be used to upgrade the 96-km Nekemte - Bedele road in Oromia State and also to link Addis Ababa with West Oromia and Gambella , among others.

Construction of the roads will enhance socio-economic benefit of the society.

The loan agreement signed between Ethiopia and the ADF will be utilized to construct the 193-km Agermariam -Yabelo - Mega road.

The House on the occasion has referred the draft bills on trade practices and consumer protection as well as trade registration and licensing to the pertinent standing committee.

It also approved with a majority vote the minute for its 29th regular session.

Re: Updates on Business and Economic news, Ethiopia

Postby YEBANDAMERZE » 09 Jun 2010, 22:14

Ethiopia's debt reached 65.9 billion birr(about 5 billion dollar)
Reporter - Amharic

ኢትዮጵያ 65.9 ቢሊዮን ብር የውጪ ዕዳ አለባት
Wednesday, 09 June 2010 09:42

- የመንግሥት የልማት ድርጅቶች ድርሻ ከፍተኛ ነው

(በአስራት ሥዩም)

እስከያዝነው ዓመት አጋማሽ ድረስ በተጠናቀረው መረጃ መሠረት፣ አገሪቱ ለተለያዩ አገልግሎቶች የሚውል በሚል የተበደረችው የገንዘብ መጠን ወደ 66 ቢለዮን ብር ገደማ ደርሷል፡፡
የገንዘብና ኢኮኖሚ ልማት ሚኒስቴር በድረ ገጹ ላይ እንዳሰፈረው መረጃ ከሆነ፣ እ.ኤ.አ. በ2007/08 የበጀት ዓመት 27 ቢሊዮን ብር የነበረው የውጪ ዕዳ በ39 ቢሊዮን ብር ጨምሮ አሁን ያለበት ደረጃ ላይ መድረሱን ያሳያል፡፡ ከአጠቃላይ የውጪ ዕዳ ውስጥ 17.4 ቢሊዮን ብር የሚሆነው ገንዘብ የመንግሥት የልማት ድርጅቶች በመንግሥት ዋስትና ሰጪነት የተበደሩት እንደሆነ ይኼው መረጃ ያስረዳል፡፡ በተለይ እ.ኤ.አ. ከ2007/08 ወዲህ ያለው የዕዳ መጠን መረጃ እንደሚያመለክተው ከሆነ፣ የመንግሥት የልማት ድርጅቶች ድርሻ በከፍተኛ ሁኔታ እየጨመረ መጥቷል፡፡ ከላይ በተጠቀሰው ዓመት እና ከዚያ በፊት በነበሩ ጥቂት ዓመታት ውስጥ የተመዘገበው የልማት ድርጅቶች ድርሻ ከ150 ሚሊዮን ብር በልጦ የማያውቅ ቢሆንም፣ ከዚህ ጊዜ ወዲህ ግን ከፍተኛ ለውጥ እየተመዘገበ መሆኑን ለማየት ተችሏል፡፡

ወ/ሮ ዓለም ዘውድ ተድላ በሚኒስቴር መሥርያ ቤቱ የብድር አስተዳደር ዳይሬክተር ለሪፖርተር እንደገለጹት፣ ከቀድሞው መንግሥት እየተንከባለለ የመጣውን ከፍተኛ የውጪ ዕዳን ለማቅለል፣ የዓለም አቀፍ አበዳሪ አገሮች እና የገንዘብ ድርጅቶች ለአገሪቱ ያደረጉት የብድር ማቃለል እና ዕዳ ረዛ ከፍተኛ አስተዋጽኦ ነበረው፡፡ በተለይ በዕዳ የተዘፈቁ ደሀ አገሮችን ለመርዳት የተቋቋመው ፕሮግራም እና በኋላ ላይ የመጣው ሦስት የዓለም አቀፍ አበዳሪ ድርጅቶች በኅብረት የጀመሩት የዕዳ ስረዛ ፕሮግራም በዚህ ረገድ ተጠቃሽ መሆናቸውን ተናግረዋል፡፡ በመረጃው ላይ ከተካተቱት አምስት ዓመታት ውስጥ በተለይ እ.ኤ.አ. በ2006/07 አገሪቱ ከተለያዩ አበዳሪ አካላት ወደ 37 ቢሊዮን ብር የዕዳ ቅነሳ አግኝታለች፡፡

ወደ አገሪቱ ከፈሰሰው የውጪ ብድር ከፍተኛውን ደረጃ የያዘው በቀጥታ ለፕሮጀክቶች የተሰጠ የብድር ዓይነት ሲሆን፣ ለመንግሥት ከተሰጠው ብድር ውስጥ 38.5 ቢሊዮን ብር የሚሆነው በቀጥታ ለፕሮጀክት የሚውል መሆኑን ከመረጃው መገንዘብ ይቻላል፡፡ ከፕሮጀክት ብድር ቀጥሎ ያለውን ቦታ የያዘው የፕሮግራም ብድር ነው፡፡ ለዚሁ ዓይነት ብድር ደግሞ ወደ 3.3 ቢሊዮን ብር ፈሰስ መደረጉ ታውቋል፡፡

በጥቅሉ ሲታይ የትራንስፖርትና ቴሌኮሙኒኬሽን፣ የኤሌክትሪክና የሌሎች ኃይል ማመንጫዎች እንዲሁም የመንገድ መሠረተ ልማት ዘርፎች ላይ በከፍተኛ ሁኔታ ይኼው ገንዘብ ወጪ የተደረገ ሲሆን፣ እንደ የኃይድሮ ኃይል ማመንጫ እና የቴሌኮም መሠረተ ልማት ግንባታ ዓይነት ዘርፎችን ደግሞ ከዚህ ተጠቃሚ ከሆኑ ዘርፎች መካከል ተጠቃሽ ናቸው፡፡

ኃላፊዋ እንደሚሉት፣ የአንድ አገር የብድር መጠን ጤናማ መሆኑን ለማረጋጥ የብድሩን መጠን ብቻ ማየት በቂ አይደለም፡፡ "ዋናው ጉዳይ" ይላሉ፣ "የአገሪቱ የመክፈል አቅም ነው፡፡" በዚህ ረገድ የመክፈል አቅምን ለመለካት የወጪ ንግድ ገቢ፣ የአጠቃላይ ምርት ደረጃ እና የአገር ውስጥ ገቢ መጠንን ልብ ማለት ተገቢ መሆኑን አክለው ይገልጻሉ፡፡

ወ/ሮ ዓለም ዘውድ እንዳሉት ከሆነ፣ የብድር መጠኑ ከመለኪያዎች ጋር ሲነጻጸር በሦስቱም መሥፈርቶች መሠረት ጤናማ ነው፡፡ ስለሆነም ይላሉ ኃላፊዋ፣ አገሪቱ ያለባትን ዕዳ የአኮኖሚ ሁኔታዋ ሳይናጋ መክፈል ትችላለች ማለት ነው፡፡

የዓለም ገንዘብ ድርጅት አይኤምኤፍ በበኩሉ፣ እ.ኤ.አ. በ2009 ለኢትዮጵያ ብድር ሲፈቅድ፣ በዚያው ያሠራውን ጥናትን በመመርኮዝ እስካሁን ባለው ሁኔታ መሠረት የአገሪቱ የብድር መጠን ጤናማ ነው ይላሉ ኃላፊዋ፡፡

የሆነ ሆኖ ወደፊት የሚኖረውን የወጪ ንግድ ገቢ ዕድገት አሁን ካለው ሁኔታ በመገመት በዚሁ ከቀጠለ፣ የወጪ ንግድ ገቢው ዕዳውን መሸከም ሊከብደው ይችላል ማለቱ ግን አልቀረም፡፡ ሪፖርቱ አገሪቱ በአሁኑ ሰዓት በመካከለኛ የዕዳ ጫና አደጋ (Moderate Risk of Debt Distress) ሥር ትገኛለች ሲል፣ ከላይ የተጠቀሱት የመንግሥት ድርጅቶች የሚወስዱት የብድር ሁኔታም እንዲሁ በደንብ ሊጤን ይገባል ብሏል፡፡

:cry: :cry: :cry: :cry:

Re: Updates on Business and Economic news, Ethiopia

Postby Facts » 09 Jun 2010, 23:09

Arrival of 25 Fords in a country of 80 million is economic news and sign of progress????

Re: Updates on Business and Economic news, Ethiopia

Postby YEBANDAMERZE » 10 Jun 2010, 06:09

Bahir dar airport expansion with 150 million birr(about 12 million dollar)

Multi-million Birr Airport Expansion Project In Progress
Addis Ababa, June 6, 2010 (Addis Ababa) -The Bahar Dar City Airport expansion project launched at a cost of 150 million Birr by the Ethiopian Airports Enterprise is in progress, its public relations said.

The Head, Wondimu Teklu told ENA over the weekend that the expansion work is being speeded up.

The expansion work includes the construction of a terminal which is of international standard, and a deep freeze store.

Wondimu said the terminal will have different facilities including information desk, a shop, bank and restaurant, among others.

The terminal can accommodate 160 passengers at a time which is greater by 30 than that of the old terminal. apparently it has long way to go.

The project is expected to meet the growing demands of tourists flowing into the city

(c) The Ethiopian News Agency

This is a good news since bahir dar has a big potential to produce flowers and fruits and to send in cargo planes to the appropriate market

Re: Updates on Business and Economic news, Ethiopia

Postby YEBANDAMERZE » 10 Jun 2010, 14:39

Ethiopia's Inflation Reaches 2.4 pct in May J

une 10, 2010 - Ethiopia's rate of inflation reached 2.4 per cent in May 2010, the Central Statistical Agency (CSA) announced, according to ENA.

The Agency told ENA on Thursday that the inflation rate registered during the reported period was lower by 39.2 per cent than that of same period time last year.

Inflation rate for food items was -5.7 percent and for non-food items it was 17.8 per cent.

According to the Agency, the reason for the decreased inflation for food items was due to reduced food prices, in particular grain.

Non-food items showed price increase, in particular petroleum, construction materials, clothing, footwear, household utensils and decors.

Re: Updates on Business and Economic news, Ethiopia

Postby YeSat-Nebelbal » 10 Jun 2010, 16:03

Facts wrote:Arrival of 25 Fords in a country of 80 million is economic news and sign of progress????

just like ten cows make a shabia news in Eritrea. Unless these two countries resolve their problem and start working together for the advancement of their people.

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