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The China Import Export Bank (EXIM) signed a loan agreement of nearly USD 3 billion with Ethiopia and Djibouti on May 22, 2013 to finance  the construction of the 756km long Addis Ababa-Djibouti railway project.

The loan agreement also covers the 100km railway project that extends from the Ethiopian border with Djibouti to the Port of Dorrale. Add a comment Add a comment

Ethiopia has earned USD 229 million from the export of manufactured goods in the last ten months of the current Ethiopian Fiscal Year, exceeding the amount earned the same period last year by more than 4.2 percent, according to the Ministry of Industry.

Public Relations Directorate Director Melaku Taye told Walta Information Center that the revenue was earned through the exports of textiles and clothes, leather and leather products, agro-processing, Pharmaceuticals and chemical products  to different countries. Add a comment Add a comment

Ethio Life & General Insurance to introduce new micro-insurance product called "Women Specific Group Credit Life Insurance".

During the launch this month, the insurance company will hand certificate of insurance to 52 Women's saving and credit cooperatives organized under the organization, Women in Self Employment. Add a comment Add a comment

The Ethiopian Revenue and Customs Authority (ERCA) announced the finalization of a draft amendment for taxation laws.

The final draft is sent to the Ministry of Finance and Economic Development (MoFED) for feedback, according to Mekonnen Ayele, legal advisor with ERCA. The draft amendment bill will amended existing tax proclamation and regulation on various taxes, including Excise Tax, VAT, Turnover Tax, Sur Tax and Income Tax. Add a comment Add a comment