100 mln br contributed for flood affected people
Over 100 million Birr was collected on Sunday through telethon conducted at the Sheraton Addis in support of people displaced as a result of flood in various parts of the country.
The donation includes European Union's pledge amounting to 70 million Birr and that of MIDROC-Ethiopia and its owner Sheik Mohammed Hussein Al-amoudi.
The telethon was conducted in the presence President Girma Wolde-giorgis and Prime Minister Meles Zenawi and other senior government officials and celebrities.
Prime Minister Meles said that the flood had affected more than 674,000 people of whom 242,000 are displaced.
He said over 298.4 million Birr was required to rehabilitate the people displaced by the flood. (ENA)
Ministry to implement petroleum data management system
The Ministry of Mines and Energy said it has set plans to implement petroleum data management system project with a view to providing sufficient local and international information for companies willing to engage in the petroleum sector.
The Ministry also indicated that it has reached agreement with international companies desirous to engage in petroleum exploration and development activities in Ethiopia, over the past three months.
The activities would help the Ministry to provide adequate information on studies conducted in the field at various times.
Agreements have been reached with companies desirous to be engaged in petroleum exploration and development works in Ethiopia, adding preparations are being underway for the signing of the agreement document with Lundin petroleum Company, as it was approved by the council of Ministers. (ENA)
Harer Beer Factory's 96.3 mln br expansion project inaugurated
State Minister of Trade and Industry, Tadesse Haile said public development enterprises engaged in the industrial sector should supply quality products to the local and international market.
Tadesse made the remark on Sunday while inaugurating Harer Beer Factory’s expansion project that has been carried out with an outlay of over 96.3 million Birr.
Tadesse said public enterprises should equip themselves with the necessary material and human power to become profitable.
Harer Beer Manager Juneidin Besha on his part said the expansion project would raise the factory’s production capacity by 50 percent amounting 100 million bottles annually from the previous 60 million.
He said the factory which used to earn less than three million Birr annual revenue ten years ago is currently earning an average of 30 million Birr.
The factory has earned 204,700 USD from the export of its products to USA Australia, and the United Arab Emirates, he added.
Haromaya University to launch distance education in four towns
Haromaya University disclosed that it will commence distance education in degree program in four towns this month.
University External and Public Relations Bureau Head, Jeylan Weliy Hussen, said that the university will launch the program in Harrar, Chiro, Assela and Adama towns.
It will enroll the first batch of distance learners in Agriculture, Economics, Rural Development and Management, according to Jeylan.
The programme will provide an opportunity for diploma holders to upgrade their education thereby increasing the number of trained manpower in the stated fields of study, he noted.
The Head stated that the program will be offered for six consecutive semesters in the centers, adding that diploma holders would be given priority in the first round. (WIC)
Dev't Bank of Ethiopia introduces new loan repayment system
The Development Bank of Ethiopia said it has put in place a new loan repayment system to balance its resources with the arrears in the hands of clients.
President of the Bank, Wondwossen Teshome, said that the bank loaned its clients over one billion birr, but has managed to collect 207 million birr loan since the introduction of the new system three months ago.
He stated that the previous repayment system of the bank was very weak, adding that the new system would help mitigate the problem.
The bank has offered over 739 million birr loan for 14 projects during the last three months, exceeding the performance of the same period last year by 28 percent, the president indicated.
According to Wondwossen, the bank has also finalized preparations to give over 2.1 billion birr loan to 21 projects. (WIC)
294 million birr investment projects under construction
Investors with over 294 million birr combined capital have begun construction in Shashemene town of Oromia State, information office of the town administration said.
An expert with the office, Abule Abegaz said that the investors have begun the work on the construction of 48 projects on an area of 16 hectares of land demarcated for industry.
Abule said the projects were in the areas of agro-industry, leather products, farming and plastic manufacturing, among others.
The expert said the projects are expected to create jobs to more than 3,000 people when they fully go operational. (ENA)
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