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Chinese Tannery Workers Strike Over Lax Safety

Friendship Tannery Plc, a Chinese-owned company, suspended operation for the past two weeks after its employees strike to protest against an accident with an employee of the Company.

At least 1,720 workers at the Tannery went on strike on October…

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Chinese Contractors Dominate Nyala’s HQ Construction Bid

The bid floated for the construction of Nyala Insurance Company’s headquarters was overwhelmed with Chinese companies.

Initially, 17 companies purchased the bid document, but only nine responded to the announcement. Seven of them are Chinese-owned companies, and the remaining two…

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Taxi Sales Initiate Despite Murky Picture

Resel Pick Pick ICT Technologies Plc has started selling 1,000 seven-seater metre taxis amidst apprehension over its formation and without getting approval from the City’s Transport Authority. The total cost of the taxis is 600 million Br.

The Company a.k.a…

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Sika, Supplier-Turned-Manufacturer

Sika Abyssinia, known for supplying construction finishing materials and chemicals for the past 11 years, stepped into manufacturing its products locally after setting up a plant in Alemgena, Oromia Regional State.

The new plant, which will manufacture waterproofing, roofing, flooring,…

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Nation’s Petroleum Supply on a Row

Three international companies are in a tough competition for the supply of fuel for the nation’s annual fuel consumption which is likely to cost the government 22 billion Br.

PetroChina International, Vitol Bahrain and Trafigura Pte passed the preliminary technical…

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Farm Business Ventures into Agro-Processing

Gonde Import & Export Enterprise is going to commission a tomato processing plant, at the cost of 100 million Br in Adama (Nazareth), 100Km south-west of the capital.

The new plant, expected to start operations in eight months time, has…

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Dashen’s Share Prices Rocket Once Again

 

Dashen Bank’s shares continue to witness soaring bids at a recent auction held for shares returned by a diaspora, attracting the biggest offer of over six times the Bank’s par value.

The auction took place on October 13, 2017,…

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