Addis gets first elected mayor
By Groum Abate
The first elected mayor of Addis Ababa will take his position as of Tuesday May 20, replacing provisional mayor, Berhane Deressa.
The National Electoral Board of Ethiopia (NEBE) will announce the results of the election today Sunday May 18, after receiving the results of the local and by-elections held on May 13 and 20, 2008 from all constituencies.
Addis Ababa’s first mayor, Hayle Giorgis, served at the beginning of the last century, a period of transition for Ethiopia and its urban areas, much as is the case today.
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ETC nets billion birr in profit
By Groum Abate
The Ethiopian Telecommunications Corporation (ETC) has announced that it has secured 921.3 million birr in net profit in the nine months of the 2000 Ethiopian fiscal year, a 30% increase from last year.
It has also announced that it carried out telecom projects across the nation at a cost of over 1.45 billion birr during the past nine months.
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Ethiopian registers record earnings
By Tedla Yeneakal
The national carrier, Ethiopian Airlines, in nine months of operations during the 2007/08 fiscal year, recorded a net profit of 484 million birr, up from the same period of the previous year by 29 percent.
According to a press release from Ethiopian, based on the preliminary reports, the airline generated 6.6 billion birr in operating revenues during the nine months, transporting 1.9 million passengers, a 19 percent increase as compared to the previous year.
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Charges of ex-CBE officials involving Star Business Group dropped
By Tedla Yeneakal
The Federal High Court on Tuesday, May 13, 2008 has dropped charges filed against former officials of the Commercial Bank of Ethiopia (CBE) involving several businessmen, the Star Business Group, jointly owned by prominent business men, Abebaw Gelaye and Muluyelet Atnafu.
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