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Ethiopia’s draft income tax proclamation is said to equip Ethiopian Revenue and Customs Authority (ERCA) with significant powers. The powers are said to be given to the Authority in the aim of expanding its tax collection power.

Ethiopian Airlines, the leading airline in connecting Africa with the rest of the World, continued its aviation technology leadership with yet another first African Airbus A350 XWB. In its successful 70 years of history, Ethiopian has so many firsts in African aviation industry. The A-350 XWB will be the first airbus aircraft in Ethiopian fleet and the first of its kind in Africa.

Dichoto – Galafi – Elidar – Bolho road’s construction, which is being undertaken by Defense Construction Enterprise, has been started.

Ethio-Canada Business Forum has been launched in Ethiopia’s capital on Thursday, June 16, 2016. The Forum is said to be aimed at advancing business, trade as well as investment between Ethiopia and Canada.

Ethiopia’s Ministry of Trade disclosed the country earned 2.31 Billion USD from the export of agricultural, manufacturing and mining products during the first 10 months of the current fiscal year. However according to Public Relations Head at the Ministry, Amakale Yimam, the performance is below the target, which is 3.34 billion USD.

Horticulture Development Agency disclosed Ethiopia secured over 230 million USD from horticulture export during the first 10 months of current fiscal year.

Ethiopia concluded an 18 billion Birr loan agreement with the World Bank on June 15, 2016. The loan is said to be utilized by Ethiopia to expand infrastructure.

Ethiopia’s public notary office, Document Authentication and Registration Agency, disclosed it has started giving online sales contract service. According to the new Agency’s Director, Meressa Gebreyohannes, the online sales contract service is only for transactions concerning houses and cars.

Auctioned Ethiopian Commodity Exchange (ECX) seats have attracted a record high price of 2.8 million Birr for 1 seat. The auction was for 5 seats, 19th to 23rd, and the bid was opened on Wednesday, June 8, 2016 in Ethiopia.

The Chinese pharmaceutical manufacturing company, Humanwell Healthcare, is set to invest 2 billion Birr in Ethiopia and construct a plant.