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Stratex PLC, the British mining company that has been prospecting for gold in the Tigrai and Afar regional regions of Ethiopia, has relinquished three gold exploration projects, according to The Reporter.

The Grand Ethiopian Renaissance Dam (GERD) constructed over the Blue Nile River (Abay) will start producing 700 MW of electric power by the next year, according to The Reporter.

Ethiopia has more than 70 million tons of iron ore deposit in Amhara, Oromia and Tigray states, the Geological Survey of Ethiopia announced.

The trade relation between Ethiopia and Switzerland has reached US$ 60 million, Swiss Ambassador to Ethiopia Andrea Semadeni said.

Ethiopia has secured over US$ 60 million revenue from export of textiles and garment during the first half of the current budget year, the Textile Industry Development Institute said.

Ethiopia's Water Works Design & Supervision Enterprise (WWDSE) and China's Hydrochina Huadong Engineering Corporation have signed a memorandum of understanding to provide technical support and consultation to projects supervised by the WWDSE, Fortune reported.

The Ethiopian government officially inaugurated the Tourism Transformation Council and the Ethiopian Tourism Organization, entities established under the Council of Ministers Regulation No. 294/2013.

Tesco, the world's third-largest retailer, is looking to source ethically produced clothes from Ethiopia, Reuters reported.

Reykjavik Geothermal, the Icelandic geothermal development company, plans to launch drilling on its US$ 2 billion project in Ethiopia by July, Chief Operating Officer Gunnar Orn Gunnarsson said.

Unilever (UNA), the world’s second-biggest consumer-products manufacturer, plans to open a manufacturing plant in Ethiopia during the next year, Bloomberg reported citing a company official.