Ethiopian Nets 504m Br

Ethiopian Airlines earned a net profit of 504 million Br despite the oil price hike during the fiscal year ended June 2008. The amount is a record high for the 62-year-old airline. The number of passengers Ethiopian served during the financial year reached over 2.5 million, exceeding that of the previous year by 20pc. The airline's revenue during the same year reached over 9.5 billion Br, an amount close to the target set for the year 2010 and that surpassing the previous year's by over 2.5 billion Br. The national flag carrier's forecast for the year 2008/2009 is 2.9 million passengers and 11 to 12 billion Br revenue.

New Hotel, Restaurant Inaugurated

Beshale Hotel, constructed at a cost of 80 million Br in Yeka District of the metropolis was inaugurated on September 20, 2008. Mohamoud Dirir, minister of Culture and Tourism said the construction of the hotel would contribute its share of development to the sector. The hotel has 64 bedrooms, two halls and two restaurants, among others. Abebe Tesera, owner of the hotel said the due attention the government has attached to the sector encouraged him to construct the hotel. The hotel created job opportunities for 120 citizens.

DKT Receives $18.5m Aid

Irish Aid, the Royal Netherlands Embassy (RNE) and the UK Department of International Development (DFID) announced a grant of 18.5 million dollars over three years, of which approximately 50pc will be used for the procurement of commodities to support Dink Kistet Le Tena (DKT) Ethiopia's social marketing activities for reproductive health, HIV/AIDS prevention and maternal/child health care. Prices are subsidized to ensure that the products are affordable to the general population. DKT Ethiopia has made significant contributions to public health programmes over the last 17 years.

US, Ethiopia Sign $151m Grant Accord

The governments of Ethiopia and the US signed an agreement on Monday September 22, 2008, providing for a grant of 151 million dollars, which was part of the 426 million dollars support the US government pledged to provide to Ethiopia. Mekonnen Manyazewal, state minister of Finance and Economic Development, Donald Yamamoto, US ambassador and Glenn Andres, United States Agency for International Development (USAID) mission director in Ethiopia signed the agreement. The grant will be utilized to raise health service coverage, improve primary schools, support trade and investment activities, as well as to boost the participation of women in the national development drive.

Irrigation Farming Sprinkles in over 379m Br

About 100,000 farmers in nine weredas of Central Tigray Zone will take part in irrigation development in the current crop season, Wolde-Giorgis Kifle, Administration, Agriculture and Rural Development chief advisor said the stated number of farmers would develop over 19,000hct through irrigation by developing 12 irrigation canals, several water wells and by harnessing rivers. Over 32,750 farmers who took part in irrigation development in the weredas over the past year have managed to obtain an over 379 million Br income.

City Hands over 4,600 Condos to Beneficiaries

The Metropolitan Housing Development Project Office handed over 4,662 condominiums constructed in an area known as Mickey Leland to over 20,000 city residents. Kuma Demeksa, city mayor, said that the office is making preparations to transfer 10,000 condos to beneficiaries and also sell over 800 shops through auction. The housing development activities launched since 2003/2004 have benefited thousands of city residents he added. Tsedale Mamo, office manager, disclosed that 38,000 condominiums would be handed over to city residents this year.   

UK Gives $50m More for Ethiopia 

The UK Department for International Development (DFID) announced on September 24, 2008, an additional 50 million dollars aid to help Ethiopia cope with the ongoing humanitarian crisis. The assistance is part of a wider UK package of 84 million dollars to address the growing humanitarian need for as many as 17 million people in the Horn of Africa, announced Douglas Alexander, UK Development secretary. There is a 716 million dollars funding shortfall for the next three months (October - December) to help the growing number of people in need of emergency assistance.  The British Prime Minister and Development Secretary continue to urge other nations and donors to respond to the humanitarian crisis in Ethiopia and the Horn of Africa, according to a press release the British Embassy issued in Addis Abeba.   

Ethiopian to Commence New Flights to Ouagadougou

Ethiopian Airlines is to commence new flight services to Ouagadougou effective October 26, 2008. With six weekly flights, Ethiopian will link Ouagadougou, which is the capital and the largest city in Burkina Faso to all the major capitals of Asia, as well as the cities throughout Africa. Ethiopian will operate a Boeing 757-200 aircraft to Ouagadougou, which has a total capacity of 160 seats - 16 in Cloud Nine and 144 in Economy. The new direct routing will save hours of current flight options for passengers going to or from Ouagadougou.