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Standard Bank Group, South Africa's largest financial services group is planning to establish a representative offices in Ethiopia, the Bank's spokesperson said on Monday. Standard Bank is also planning to set up representative office Ivory Coast, the bank's latest move to expand into sub Saharan Africa, where it already has operations in 18 countries.

Ethiopia, Africa's second most populous nation after Nigeria, is seen as a potentially big market for foreign banks, although the financil sector of the country still remains closed to foreign companies.

Ethiopia's consumer price rose to 8 percent in July up from 7.4 percent in June, Fortune reported citing the latest Consumer Price Index released by the Central Statistical Agency.

The year-on-year food inflation in July was 5.8 percent from 3.7 percent in June, while non-food inflation was 10.5 percent in July from  11.9 percent in June.

The Ethiopian Textile Industry Development Institute signed a three-year twinning arrangement with National Institute of Fashion Technology, an Indian Company.

Speaking on a meeting held in Addis Ababa on Saturday August 17, 2013, Institute General Director, Sileshi Lema said the arrangement will help to build capacities of professionals in the sector.

Ethiopia and Norway signed a REDD+ Partnership agreement to support Ethiopia's forest sector and Climate Resilient Green Economy (CRGE) Strategy. Agriculture State Minister, Sileshi Getahun and Norwegian Ambassador to Ethiopia Oddlnge Kvalheim signed the agreement on Friday 16 August, 2013.

Sileshi on the occasion said the agreement will contribute to Ethiopia's efforts to build climate resilient green economy. Ambassador Kvalheim on his part said the partnership is to contribute to reduction of greenhouse gas emissions caused by deforestation and forest degradation, thereby supporting the development and implementation of Ethiopia's REDD+ Strategy.