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Addis Ababa: July 9, 2015 (FBC) – Constructed at a cost of 2 billion Birr, with support from the Government of Japan, Aluta Langano Geothermal power station has started generating power.

Ethiopian President Mulatu Teshome met with Korean business delegation on July 09, 2015, at the National Palace, according to Ethiopian News Agency.

Ethiopia has been voted as this year’s top destination in the world for tourists by the European Council on Tourism and Trade (ECTT), a non-profit group of European Union tourism trade organizations.

World Bank said expectation of both oil price increase in the international market and decline in local construction sector performance guided by public investment may decelerate Ethiopia’s economic growth in the coming three years.

Addis Ababa City Administration approved 31.8 billion Birr budget for the 2015/16 budget year on its 3rd regular session, on July 7, 2015, according to Ethiopian News Agency.

Hiber Sugar Share Company has laid the cornerstone for the construction of the first private sugar factory in Ethiopia, according to Ethiopian Herald.

Ethiopian government is to lift ban on importation of palm oil by private companies starting from August 6, 2015, Addis Fortune reported.

Privatization and Public Enterprises Supervising Agency (PPESA) intends to privatize 15 public enterprises in the second GTP Period, according to Walta Information Center (WIC).

The House of Peoples’ Representatives (HPR) on Monday, July, 07, 2015, approved 223.3 billion Birr budget for the 2015/16 budget year, Ethiopian News Agency reported.

Central Statistics Agency said inflation rate has hit double digits for the first time in 27 months.