The Ethiopian House of Peoples' Representatives (HPR) has passed demurrage proclamation on Tuesday 19 November, 2013, The Reporter reported.
The new proclamation is said to be necessary for the export and import of goods at a competitive cost. The law is also expected to reduce delays and benefit consumers, exporters and consignees.
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The National Bank of Ethiopia (NBE) inaugurated its new centralized, online, real-time, electronic (CORE) banking system after months of delay, Fortune reported.
The NBE launched its new CORE banking system, called Quantum Intellect, replacing the previous Bank Master system, on Monday, November 18, 2013.
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The European Union concluded a US$287.26 million development grant agreement with the Ethiopian government on Monday November 25, 2013, Reuters reported.
The grant will be used to finance road construction and projects focusing on maternal health and drought resilience.
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Ethiopian Airlines has selected Rockwell Collins to provide the full suite of avionics equipment for its new and growing fleet of Boeing 777s, which currently includes 10 aircraft. The selection includes Rockwell Collins’ MultiScan™ Threat Detection System, GLU-925 Multi-Mode Receiver (MMR), Traffic Alert and Collision Avoidance System (TCAS II) and SATCOM.
Prices for sesame and white pea beans at the Ethiopian Commodity Exchange (ECX) have jumped 25 percent and 35.7 percent, respectively, in the past two weeks, Fortune reported.
Sesame exporters attribute the price hike to rumors of shortage of the commodities in the international market, according to Fortune.
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