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Ethiopia has entered into loan agreements adding up to more than 1 billion US dollars in the last few months according to Hailemariam Desalegn Foreign Minister and Deputy Prime Minister of Ethiopia.

The loan agreements Ethiopia signed include arrangements with China for 612 million US dollars, with the United States for 52 million US dollars, with Saudi Arabia for 25 million US dollars, with the World Bank for 210 million US dollars and 1.4 million US dollars from the Czech Republic.

Ethiopia earned an estimated 1.1 billion US dollars from the export of various items over the past five months announced the Ethiopian Ministry of Trade.The revenue earned from exports, in Ethiopia, is 227.5 million US dollars higher than the same period last financial year said Amakele Yemam Public Relations Director for the Ministry of Trade.

During this period, Ethiopia, exported no less than 35 types of agricultural produce and industrial products to about 120 countries across the globe according to Amakele.

Ethiopian Airlines has announced new nonstop flight between Addis Ababa, Ethiopia and Muscat, Oman. Ethiopian will make the flight to Muscat six times a week according to a press release from the airline.  

Ethiopian Airlines is pleased to commence flight services to Oman which has been nominated as the ‘Arab Tourism Capital 2012’ by the Arab League said Tewolde Gebremariam Chief Executive Officer of Ethiopian Airlines in the press release.

The new flight services to Muscat make it the 7th destination in the Middle East for Ethiopian Airlines and the 63rd internationally noted the press release.

The Ethiopian Electric Power Corporation announced that that first tender to outsource its utility management to an international company failed, last week. The sole utility company in Ethiopia, EEPCo, is considering further options.

The tender was put out as part of the power corporations aim to transform its utility operations, including distribution, transmission and power generation.