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Development Bank of Ethiopia (DBE) announced it has extended a 4 Billion Birr loan to mega projects in the past nine months of the current fiscal year, according to the Ethiopian News Agency.

MIDROC Gold PLC., an Ethiopian gold mining company, announced it will start producing gold at Sakaro, in Juji Zone of Oromia State, according to The Reporter.

Ethiopian Shipping and Logistics Service Enterprise (ESLSE) announced it has made a profit of 800 Million Birr from total revenue of 6.7 Billion Birr during the last eight months of the current fiscal year, Capital reported.

National Bank of Ethiopia (NBE) has allowed local and foreign private companies to engage in capital goods leasing business, according to The Reporter.

Tullow Oil’s third oil exploration well, Shimela-1, drilled in Chaw Bahir basin has turned out to be dry, according to The Reporter. Tullow started drilling the well in March 2014 using Exalo 250 rig in the South Omo Zone.

Sur Construction has concluded a 2.1 Billion Birr contract with Ethiopian Road Authority (ERA) for the design and construction of 55 Km road.

Habesha Cement S.C. has acquired a mining license from the Ministry of Mines (MoM) to excavate minerals that it can use as input for it’s cement production, Fortune reported.

Oromia State Revenues and Customs Authority that the Authority has collected six Billion Birr in the past nine months of the fiscal year from various income titles, Ethiopian News Agency reported.

A report released by the Ethiopian Revenue and Customs Authority (ERCA) on Monday, May 12, 2014, has unveiled the authority has failed its target of collecting 88.3 Billion Birr by only collecting 79 Billion Birr during the past nine months of the fiscal year.

The construction of Omo-Kuraz I sugar factory is 80 percent complete and it is expected to go fully operational in the coming Ethiopian year, Ethiopian News Agency reported.