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Ethiopian, Italian Firm Open Blanket Manufacturing Facility

Sep 24 , 2022


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The national carrier has inaugurated a facility for the manufacturing of insulation blankets for Boeing 737-MAX aircraft at its hub in Addis Abeba Bole International Airport. The facility is part of a joint venture between the Ethiopian Airlines Group and Geven Sky Tecno, a division of the Italy-based Geven Group. Ethiopian Airlines holds a 51pc stake in the venture dubbed "Ethiopian Sky Technologies." Ethiopian reinstated the 737-MAX to its fleet last February, nearly three years after the model was grounded following a crash that claimed the lives of 149 passengers and eight crew members. It has since introduced several routes using the aircraft, including flights to Athens and Istanbul. The national carrier has five 737-MAX 8 aircraft stored in its hangars in Addis Abeba.


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Annual U.S.–Ethiopia Real Estate Expo to Debut in July

Harvest Circle Inc., a U.S.-based organisation, will launch the first annual U.S.-Ethiopia Real Estate & Construction Expo in July 2026. The event will bring together Ethiopian and U.S. real estate developers, construction firms, banks, insurers, property managers, and investors to explore partnership, financing, and investment opportunities. Organisers say the platform seeks to promote private sector-led urban development, facilitate diaspora investment, and expand market access for Ethiop...


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Addis Abeba Housing Bureau Warns Landlords against Illegal Rent Hikes, Threatens Legal Action

The Addis Abeba Housing Development and Administration Bureau has issued a warning to landlords attempting to impose unauthorised rent increases or carry out unlawful evictions as the residential leasing cycle nears its statutory June 30 deadline. The warning follows reports of landlords pressuring tenants to vacate properties under claims of personal use or sale, alongside demands for steep rent hikes, according to comments made to state media. Kidist W. Giorgis, Head of the Bureau, said...


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Development Bank Turns Corner as Profit Hits Eight Billion Br

The Development Bank of Ethiopia (DBE) posted a gross profit of eight billion Br in the first nine months of the fiscal year while repaying 15.6 billion Br in outstanding debt. Total income reached 17.3 billion Br, exceeding its target by 12pc. Presenting its performance to the House of Peoples' Representatives Standing Committee for Government Development Organizations, the bank highlighted progress from ongoing reforms, including reducing its non-performing loan ratio to 13.4pc, below the Nati...