The grandchildren of Emperor Haileselassie paid 25 million Br, which they secured from Dashen Bank, required for the return of the Wabi Shebelle Hotel from the Privatisation and Public Enterprises Supervision Agency (PPESA) last week.
Girmay Gebremichael, the major shareholder and managing director of Askallukan Trading P.L.C. who was suspected of defrauding 45 million birr from over 1,200 people in connection with the 2010 FIFA World Cup, was arrested in Frankfurt, Germany, on Monday, it was learnt.
Ethiopian Airports Enterprise said, it will undertake a 460 million Birr ($27.9 mil) expansion work at Addis Ababa Bole International airport. The project will increase the aircraft parking capacity from 18 to 43.
The Arada District Trade and Industry Office sealed off 20 produce shops in Atkilt Terra, the biggest fruit and vegetable market in Addis Abeba, two weeks ago over claims of price gouging, trading without a proper licence, and hoarding.
Addis Ababa City Roads Authority signs deal for the design of a designated bus lane.
Cheered by the throng, Oromo dignitaries in traditional headdresses, lion skins and brightly-coloured velvet made their way to the edge of Lake Hora for an annual thanksgiving.
Young people are trendsetters, and new research shows that Africa has become the most desired travel destination for Western youths. The trend bodes well for Africa’s booming travel industry.
City administration adopts new Urban Development Plan, plans to implement previously made plans.
Ethiopia’s First International Fashion Week was successfully hosted in Addis Abeba last week to unite big industry players from across Africa in a bid to bring about sustainable development through fashion, writes MIREILLE DE VILLIERS, SPECIAL TO FORTUNE.
The followers of the Ethiopian Orthodox Church lit a big bone fire (Demera) in commemoration of the Finding of the True Cross by Empress Eleni yesterday at the Meskel Square in Addis Ababa.