2merkato

Tullow Oil, a British company, which recently launched oil exploration activities in the South Omo valley, hired BGP Geo Services PLC, a Chinese company, to carry out a seismic survey in the concession area.

Tullow Oil started the oil exploration work in the South Omo valley after it bought a 50 percent stake in the South Omo valley from Africa Oil.

The Ministry of Trade said Friday that Ethiopia earned more than 2.4 billion dollars from the export sector over the last 11 months.

Amakele Yimam, director of public relations and communications directorate, said that the income was greater than that of the same period last fiscal year by 693.9 million dollars. However, he said that the amount fell short of the ministry's projection for the period which was 2.9 billion dollars.

Mauritius leads Africa    

Ethiopia ranked 121st out of 125 countries on the fifth annual Global Innovation Index released by the INSEAD business school. European countries dominated the top 11 economies on the list, and more than half of them are in the northern regions of the continent.

The Ethiopian Revenue and Customs Authority's (ERCA) Large Taxpayers and Western Addis Ababa branch offices are relocating this month from the headquarters building of the Ethiopian Chamber of Commerce and Sectoral Association to the authority's former headquarters at Beklo Bet.

The Large Taxpayers and Western Addis Ababa branch offices of the ERCA have been occupying five floors of the Chamber's building.

ERCA's central server for the registration of daily sales coming from customers' cash register machines had been installed in the Chamber's building in front of the Mexico Square. The central cash register machine server will move to the authority's current headquarters at Megenagna, officials said.