Economy
As the capital city and largest settlement of Eritrea, most Eritrean businesses have their headquarters in Asmara. The city was once a factory town.
During the colonial period, Asmara was an administrative and commercial center of Italian East Africa. When the British entered the country in 1941, many businesses were closed down or relocated outside of the city. This trend continued under Ethiopian occupation.
More recently, Eritrean Airlines and Nasair have their head offices in Asmara. Eritrean Telecommunications Corporation also has its headquarters in the city. In addition, country's national television station Eri-TV has many studios located in various areas in the capital.
Read more about this topic: Asmara
Famous quotes containing the word economy:
“The aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.”
—Henry David Thoreau (1817–1862)
“Unaware of the absurdity of it, we introduce our own petty household rules into the economy of the universe for which the life of generations, peoples, of entire planets, has no importance in relation to the general development.”
—Alexander Herzen (1812–1870)