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dVentus Technologies, an Ethiopian clean energy company received a US$3 million from members of the Ethiopia Angel Network.

Ethiopian Angel Investment Network, part of RENEW, is an investment firm dealing mostly with potential business in developing countries announced signing of Memorandum of Understanding with dVentus last week.

A high level Kenyan trade delegation is to visit Ethiopia on a three day trade mission in Ethiopia. The event is organized by the Kenya Association of Manufacturers and the Kenyan Embassy in Ethiopia.

The delegation include senior government officials of the Kenyan government and industry executives from food & beverage, metal, construction sectors. The organization of the event is aimed at nurturing closer economic, political and cultural ties between the two countries. Add a comment Add a comment

The Ethiopian Commodity Exchange is to introduce mung beans to its trading floor. The Ethiopian Commodity Exchange Authority, the supervisory body of the ECX has approved the plan on Friday 26 July, 2013. The primary reason for the inclusion of mung beans is the rise in the export of legumes in last three years, Fortune reported.

"There is a remarkable surplus which can be traded through the ECX and bring benefit to farmers", Addis Alem Balema, Director General of the Authority told Fortune.

Ethiopia has earned US$123.44 million from export of leather products in the concluded Ethiopian Fiscal Year, according to the Ethiopian Leather Industry Development Institute.

Wondu Legesse, Director General of the institute, told Walta Information Center today that the export earnings came from finished leather products such as, footwear, gloves and other products. Add a comment Add a comment

An Ethiopia -Italy Investment, Trade and Tourism Promotion Forum was held in Milan, Italy. Higher government officials from the Ethiopian government, including Industry State Minister, Sisay Gemchu, and Director General of the Ethiopian Investment Agency, Fitsum Arega attended the event. Add a comment Add a comment

Revenues Development Authority of the Tigray Regional State of Ethiopia  has reportedly collected 2.1 billion Ethiopian birr revenue in the concluded Ethiopian Fiscal Year.

Legesse Seifu, the Authority's Legal Core Process Head,  told Walta Information Center today that, the revenue was collected from direct and indirect taxes as well as non-income titles. Add a comment Add a comment

Ethiopia concluded a US$700 million contract with Huawei Technologies Co Ltd, a Chinese multinational networking and telecommunications equipment and services company headquartered in Shenzhen, Guangdong.

The agreement will see the number of subscribers to 56 million with the expansion and upgrade of Ethiopia's mobile phone infrastructure. Huawei will also set up high-speed 4G broadband network capability in the capital Addis Ababa and 3G service throughout Ethiopia. Add a comment Add a comment

The Addis Ababa City Administration is planning to revise municipal service tariffs, based on a study of the Finance and Economy Development Bureau of the city. The new City Administration, led by Mayor Diriba Kuma, that took office two weeks ago, targets to collect 2.3 billion Ethiopian birr revenue from municipal services, according to the city's budget for the 2013/14 fiscal year.

In the just ended Ethiopian Fiscal Year (2012/13), the City has collected 1.6 billion birr from municipal service. In its annual report for the current year, the City’s Finance and Economic Development Bureau said the tariff adjustment, which will see a 43 percent increase in revenue from municipal services, will contribute to the city’s budget, alongside other revenue sources such as tax and non-tax revenue. Add a comment Add a comment

Addis Ababa Education Bureau and China Jiangsu International signed a contract to build two schools in the Ethiopian capital, Addis Ababa. The China-Africa Friendship Schools Project will cost 60 million Chinese yuan (US$9.6 million).

Signing the contract, Xie Wei, deputy general manager of China Jiangsu International, said his company will complete the project within 20 months. The China-Africa Friendship School Project "is another landmark for the relations between China and Ethiopia. We will carry out the project strictly as per the agreement to make our contribution to deepen the friendship," Xie said.

The Ethiopian Development Research Institute (EDRI) and the Japan International Cooperation Agency (JICA) Ethiopia Office will hold their fourth High Level Forum of Phase II of the Policy Dialogue on Industrial Development on 30th July 2013, EDRI announced.

According to a statement EDRI sent to Ethiopian News Agency, the forum is the fourth event in the series of Phase II of Policy Dialogue on Industrial Development between Ethiopia and Japan. It said the event will focuses on strategic Foreign Direct Investment promotion and technology transfer. Add a comment Add a comment