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The Amhara State Industry and Urban Development Bureau announced it has managed to give license to some 833 projects with a combined capital of 9.9 Billion Birr during the current fiscal year. The license is given to projects that will undertake different investment projects.

Ethiopia’s law making body, House of Peoples Representatives’ (HPR), sent a draft custom bill to two of its standing committees; Budgetary and Finance Affairs Standing Committee and the Law and Justice Administration Affairs Standing Committee.

Ethiopian Airlines, the fastest growing and most profitable airline in Africa, wishes to extend its appreciation to its esteemed customers for their vote of confidence, which has enabled the airline to become for the first time in its 69 years history the largest African carrier with revenue topping 2.3 billion $ in 2013 and profit, according to the airlines ranking of the International Air Transport Association (IATA) published in the 58th edition of World Air Transport Statistics.

Great Lakes Private Sector Responsible Investment Roundtable was held in Ethiopia on Wednesday. The Forum was intended to explore on methods of responsible investment that can contribute to inclusive business and sustainable development. Success stories in Africa were also shared during the Forum.

Kessem Irrigation Dam, which is part of the Kessem Sugar Development Project, is said to be 99 percent completed. This is according to the consultant of the construction project, Federal Water Works Design and Supervision Enterprise.

Addis Ababa City Administration Micro and Small Scale Enterprises announced it has created job opportunity for over 171,000 citizens. 

LG Electronics Corporation is set to open a TVET College in Ethiopia in collaboration with Korean International Cooperation Agency (KICA) and World Together (WT). The institution is named LG Hope TVET College and it is expected to be opened in November.

KEFI Minerals announced it bought out Tulu Kapi license in Ethiopia from Nyota Minerals for 1.5 Million Euro in cash and shares. KEFI had already bought 75 percent earlier and now it has acquired the rest 25%

A workshop organized in Ethiopia by National Oil Ethiopia suggested the need to develop infrastructure facilities, investment and regulatory standards in order to secure efficient utilization of energy because the demand for oil will double in the coming decade.

The African Union Commission (AUC) and Reykjavik Geothermal concluded an agreement last week for a financial support to drill two-reservoir confirmation wells at the Reykjavík Geothermal project in Ethiopia.

The financial support is U.S$ 5.6 Million and the wells are owned by Corbetti geothermal prospect. With regard to the support, it is aimed at alleviating infrastructure requirements need for proper project implementation. The signing ceremony took place at the Grand Hotel in Reykjavik, Iceland on May 26, 2014.