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Poly-GCL, company engaged in natural gas exploration in Ethiopia, has started drilling the 6th petroleum and natural gas well dubbed Hilal-7 gas in Somali Regional State, Ethiopia. Thus far the company has drilled 5 gas wells around Calub and Hilala areas in the Ogaden Basin.

Ethiopia’s Ministry of Trade disclosed during the first 5 months of the current fiscal year, the nation has earned more than 1 billion USD from export trade. Nevertheless, this was still short of the target set at the beginning of the year, which was 1.7 billion USD..

Africa Insurance Company, one of the private insurance companies in Ethiopia, made 406.8 million Birr in the last fiscal year. The performance is 16 percent or 56 million Birr higher than the company’s profit in 2014/2015.

Former Dashen Bank S.C., Lulseged Tefen, is appointed as the new CEO of another financial institution in Ethiopia, Nile Insurance Company S.C. It was only in December 2016 that Lulseged was appointed as the Special Advisor to Nile.

Portion of the railway linking Ethiopia with Djibouti, Ethiopian-Djibouti Railway, will be inaugurated tomorrow, January 10, 2017. It will be only the portion in Djibouti that will be inaugurated tomorrow. The news was disclosed by Ethiopia’s Ministry of Public Enterprises.

Tulu Kapi Gold Mine’s developer, KEFI Minerals, asked the Government of Ethiopia to increase its investment in the gold mining project.  

Ministry of Culture and Tourism disclosed, Ethiopia earned around 872 million USD exclusively from foreign tourist flows during the first 3 months of the current fiscal year.

Zabidar Beer S.C. has joined Ethiopia’s beer market as the latest entrant with a beer which is 330 cl and has an alcohol content of 5 percent. The company has introduced pull of caps, also known as RipCap, for the first time in Ethiopia – meaning the beer bottles do not need bottle openers.

In the aim of preventing urban air pollution, Ethiopia’s Ministry of Urban Development and Housing has started to implement a strategy that forces construction sites to reserve 30 percent of their allotment for green areas.

Ethiopian Airlines Cargo Terminal, which is under construction currently, has reached 82 percent completion rate and it is scheduled to be operation by April 2017.