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Bell Geospace disclosed it won the tender floated by GPB Ethiopia Resources B.V., an affiliate of GPB Global Resources, for Airborne FTG & Magnetic Surveys in the Gewane-El Wiha Block, Afar State. Subsequently, Bell is awarded the contract by GPB Ethiopia.

The electrified rail link being built between Addis Ababa, Ethiopia’s capital, and Djibouti, the land locked nation’s main trade corridor, will be finalized in a year time, Prime Minster Hailemariam Desalegn said.

Dashe Bank S.C. is going to launch an agent banking service by the end of the 2014 making it the first bank in Ethiopia to render the service.

United Insurance Company S.C. secured 62.7 Million Birr net profit in the last fiscal year. This figure is slightly higher than what the company managed to earn in the 2012/2013 fiscal year, 60 Million Birr.

Habtemariam Shumgizaw, Chief Executive Officer of National Insurance Company of Ethiopia (NICE), has stepped down from his authority to retirement. His retirement is going to be effective from Saturday, November 1, 2014.

Ethiopian Airlines concluded a code-share agreement with the Japanese airline group, ANA.

The Bangladesh based, BDL Group, is set to build textile and garment factory at an outlay of 765 Million Birr in the Tigray State capital, Mekele City.

The plan to build an abattoir facility in the Hanna Mariam area has been abandoned by the Addis Ababa Abattoirs Enterprise (AAAE) and the construction is going to move two kilometers away from the original location.

Abyssinian Pilot Training School bought three more trainer aircrafts at an outlay of U.S. $ 1.3 Million.

A potash exploration work that was taking place in Afar State by Yara Dallol BV, a subsidiary of Yara International, is finalized after a total cost of U.S. $ 100 Million.