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Ethiopia’s telecom monopole, Ethio Telecom, disclosed it made 20.8 billion Birr of gross profit in the just concluded fiscal year. Such was disclosed during a discussion held to evaluate 2015/2016 performance and make plans for the coming fiscal year.

Hawassa Industrial Park was inaugurated by Prime Minister of Ethiopia, Hailemariam Dessalegn, on July 13, 2016. The park was built at a cost of 250 million USD in the capital of Southern Nations Nationalities and Peoples State, Hawassa.

Ethiopian Airlines, the fastest growing, most profitable and a technology pioneer African airline, is pleased to announce that it has won SKYTRAX World Airline Award for Best Airline Staff in Africa, for the second time, on July 12, 2016 at Farnborough Airshow event held in Hampshire, England.

Lottery draw is going to be held by the end of the current month to handover about 40,000 condominium houses which are built in Ethiopia’s capital, Addis Ababa.

Ethiopian Commodity Exchange (ECX) has started trading red kidney beans and mung beans on its floor. The commodity exchange commenced the service on July 12, 2016.

Zamra Construction agreed with Addis Ababa Youth Sport Bureau to construct a zonal stadium in Ethiopia’s capital, Addis Ababa, at an outlay of 500 million Birr. The stadium is going to be constructed at Ayat locality, in Bole Sub City.

Industry Parks Development Corporation (IPDC) signed construction agreement with Chinese Civil Engineering Construction Corporation (CCECC) for the construction of industrial park in Adama, Ethiopia. The agreement was signed on July 10, 2016.

Metal and Engineering Corporation of Ethiopia (METEC) signed a Memorandum of Understanding (MoU) with the government of Somalia to build industrial capacity of the latter. The agreement was signed on July 9, 2016.

The Chinese corporation CGCOC Hansom Group established a new company in Ethiopia which dubbed Hansom Kinfengda Manufacturing PLC and owns a manufacturing plant which produces special type of corrugated pipes. The pipes are said to be used for residential wastes, industrial wastes and water discharges.

Ethiopia’s federal legislature House of Peoples’ Representatives (HPR) approved the proposed 274.3 billion Birr budget for the coming fiscal year. The budget plan shows a 21 percent increase from last year’s approved fiscal budget.