Construction works of the Addis-Adama expressway has reached 82 percent and will be fully completed in April 2014, Fortune reported.
The expressway is designed to relieve the heavy traffic congestion in the route. After the opening of the expressway, travel time between the two cities will only take 40 minutes from the current two hours.
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The Ethiopian Civil Aviation Authority (ECAA) and the Nigerian Federal Ministry of Aviation signed a memorandum of understanding (MoU) to increase the number of flights between the two countries, Fortune reported.
The MoU which was signed on November 6, 2013, outlines an increase of weekly flights from Ethiopia to Nigeria, from the current 18 to 31.
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The Commercial Bank of Ethiopia (CBE), is to introduce three new categories of savings accounts, Fortune reported.
The latest class of saving accounts are categorized by age and gender, offers higher interest rates and other incentives.
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Abay Bank is set to receive the delivery of mobile, Internet and point of sales banking systems it procured from the a Morocco based, Société Maghrébine de Monétique (S2M) in November 2013.
The Bank, concluded an agreement for these systems in October, 2013, as part of its plans to launch mobile and agent banking services in the next year.
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Awash Insurance S.C. posted 69.23 million Ethiopian birr profit after tax for the 2012/13 fiscal year, Fortune reported.
The company's profit jumped 114 percent from the previous year. Awash Insurance has also reported Earning per Share of birr 433 birr. Awash Insurance registered a 7.3 percent increase in underwritten gross premium, reaching 346.47 million birr.
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