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The Ethiopian Food, Medicine & Healthcare Administration and Control Authority is finalizing preparations to introduce Good Manufacturing Practice (GMP) road-map for the pharmaceutical medical device manufacturing sectors, Walta Information Center reported.

GMP is a production and testing practice that helps to ensure a quality product.

Ethiopia's Lion Insurance Company registered a 13.08 million Ethiopian birr profits after tax, Fortune reported.

The company's earning grew 34.57 percent compared to the previous year. Its earnings per share (EPS) have also reached to 12.25 birr from 7.85 birr.

The Ethiopian Corporate Governance Institute (ECGI), a private sector initiative to govern ethics and conduct of companies in the country, was launched on Saturday October 26 at the African Union Commission Headquarters, Capital reported.

Tadesse Haile, State minister of Industry (MoI), said at the launching ceremony that most businesses in Ethiopia are still operating under traditional norms of business management and practices.

Review of Ethiopia's Road Sector Development Program (RSDP) in the past 16 years has reveled, the total road network expansion of the country has reached 85,966km, The Reporter reported.

When the program was launched in 1997, Ethiopia's total road coverage standing at 26,550km.

Angel’s Cotton & Textile Production PLC – a Turkish textile company is to launch production of textile products in January, 2014, Fortune reported.

The factory is being construed in Legetafo Industrial Zone, 25kms from Addis Abeba, in Oromia Regional State, on a 2.5 hectare plot.

Ethiopia's Bunna International Bank (BIB) posted 59.2 million birr after tax during the the 2012/13 fiscal year, Fortune reported.

BIB also reported EPS of 211.3 birr, a 59.47 percent increase for its fourth year of operation.

The Adet Agricultural Research Center is set to introduce two improved high yield bread wheat varieties to farmers in Amhara State.

Dr. Tesfaye Feyesa, Director of the Center said, the Center will introduce the new varieties to farmers at the trial site in Gozamina Woreda in East Gojjam Zone.

The Oromia Credit and Saving Enterprise announced that it has disbursed over 306 million Ethiopian birr in loan to beneficiaries during the first quarter of the current fiscal year.

The Enterprise told Ethiopian News Agency that it has distributed the loan to 96,000 beneficiaries through its 294 branch offices.

The Ethiopian Ministry of Industry signed on agreements with several contractors for the 2nd phase construction of the Bole Lemi Industry Zone construction Thursday, October 31, 2013.

The agreement was signed with 14 contractors and a consultant engineer. All construction work on the site will be assigned to local contractors, except a Chinese contractor for the road construction, according to Ethiopian Radio and Television Agency.

Tecno Group, a mobile phone assembly and production company in Ethiopia held a groundbreaking ceremony on Thursday for its phase III factory in Addis Ababa, Walta information Center reported.

The foundation stone was laid in the ICT Park currently under construction by the Ethiopian government to support the development of information communication technology in Ethiopia.