Ethiopian government is planning to establish Construction Industry Council to regulate the construction sector. A draft regulation prepared by the Ministry of Urban Development and Construction for the past two years is set to be tabled to the Council of Ministers in a month time.
The regulation is drafted drawing on the experiences of countries such as, the U.S, China, India and Korea.
Ethiopian government has dropped plan to tax dividends which remain undistributed to shareholders. Tax on dividends should only be paid after part of the net earnings are paid to shareholders, Sufian Ahmed, Minister of Finance & Economic Development, said reassuring the business community attending the annual Public-Private Dialog, held at the UNECA, on Thursday, June 27, 2013.
The Ethiopian government is preparing to issue a bond worth Birr 900 billion to address unpaid loans provided by the Commercial Bank of Ethiopia (CBE) to government development organizations. The bond, introduced during a recent government session, aims to settle outstanding debts and strengthen the bank’s capital base.
Russian oil and gas company named GPB Global Resources is to make a start on oil exploration project in the Afar Regional State of Ethiopia, The Reporter reported.
The Grand Ethiopian Renaissance Dam (GERD), Ethiopia's mega project on the Blue Nile, has started generating power at 375MW with its first turbine.
