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Around 1,193 projects in Amhara State were licensed during the just ended fiscal year. These projects had a combined capital that exceeds 12.5 Billion Birr.

Berwaqo Milk Processing Plc, a one month old company, is preparing to export camel milk and its byproducts to other East African nations.

Ethiopian Horticulture Development Agency disclosed Ethiopia secured U.S $ 245 Million during the past budget year from the export of flowers, vegetables and fruits.

The Indian food company, Allanasons Ltd., announced it is set to invest USD $ 20 Million on a meat processing plant in Ethiopia. Allanasons is motivated by the existence of a large population of naturally fed cattle and sheep.

Gullele Soap Factory Plc changed its business organization form to a share company with a capital of 80 Million Birr.

Ministry of Finance and Economic Development (MoFED) announced on Saturday, August 2, 2014, it has made salary increment that ranges from 33 percent to 46 percent for civil servant. The increment is going to be effective starting from the new budget year’s first month.

The United Arab Emirates (UAE) based automotive company, Al Ghandin Auto Group, opened a representative office in Ethiopia’s capital, Addis Ababa, for the purpose of serving the East African market. The company intends to go fully operational by the coming October.

On Saturday, August 2, 2014, Ethiopia hosted an experts’ seminar at the UN Economic Commission for Africa to assess the establishment of a Regional Development Bank (RDB) for Intergovernmental Authority on Development (IGAD). The seminar was organized by the Horn Economic and Social policy Institute (HESPI) and IGAD.

Shoa Trading and Shopping Company is set to open two more hypermarkets in Ethiopia’s capital, Addis Ababa. The hypermarkets are said to be located around Sar Bet and CMC areas.

Awash International bank (AIB) disclosed, during the past budget year it managed to raise its deposit from 13.1 Billion Birr to 16.1 Billion Birr.