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Financial institutions amass 3.8 bln birr profit

Three state owned financial institutions under the supervision of the Public Enterprises Holding and Administration Agency (PEHAA) have bagged a combined 3.8 billion birr profit before tax in the first quarter of the fiscal year, the agency said.

Ethiopia secures USD 1.1bln in FDI inflows: UNCTAD

The United Nations Conference on Trade and Development (UNCATD), in its Investment Trends Monitor Report released this week, indicated that Ethiopia remains relatively stable drawing USD 1.1 billion in Foreign Direct Investment inflows during the first half of 2020.

More nonpartisan officials resign

Weeks after the news of  the former investment commissioner’s resignation broke, more nonpartisan officials are giving-up their leadership roles, with the latest coming from the Job Creation Commission.

IFC injects EUR 20 mln in Soufflet Ethiopia

The International Finance Corporation (IFC), a member of the World Bank Group, has financially backed Soufflet Malt Ethiopia – a subsidiary of the French-based Gruope Soufflet – with EUR 20 million to help expand the company’s malt production and for its role involving some 40,000 smallholder farmers in the value chain.

EIC executive embroiled in social media gaffe  

A heated war-of-words on Twitter between an executive of the Ethiopian Investment Commission (EIC) and an activist has resulted in an accusation of a professional misconduct, prompting the head of the commission, Abebe Abebayehu promising to take an immediate action.

Chinese corporate leaders strengthen ties, trade relations

A large delegation of Chinese corporate leaders from the Shandong region has visited Ethiopia this week. Headed by the China Council for the Promotion of International Trade of Shandong Sub-Council, the delegates met with their counterparts in Ethiopia and held a Shandong Ethiopia Business Forum in the capital.