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The MIDROC Ethiopia Technology Group announced more than 1.3 Billion birr in profits the past fiscal year, on Sunday.

The group has been able to achieve such tremendous success because of the dedication of its employees said Sheikh Mohammed Hussein Ali Al Amoudi Chairperson of MIDROC. The MIDROC Group will support national efforts towards growth and development by creating new companies and expansion he added.

Ethiopian Airlines began direct flights from Ethiopia’s northern regions to the Sudanese capital Khartoum on Thursday. It was announced that the new flight will takeoff to Khartoum from Bahir Dar, capital to the Amhara Regional State and Tigray's Regional State Capital, Mekelle.

Ethiopian Airlines announced that the new flight services will run four days a week on Tuesdays, Thursdays, and Saturdays and Sundays using Bombardier Q-400 Aircraft.

The Ethiopian statistics agency announced that the annual inflation rate fell to 40.1% in September. This is a decrease from the 40.6% inflation recorded last month according to the statement by the agency.

The year on year inflation rate fell due to the drop in the prices of fruits and vegetables. The price index of fruits and vegetables decreased by 3.4% explained the report.

Leaders from Ethiopia and Djibouti inaugurated the substation linking Djibouti to the Ethiopian power grid on Wednesday. It was described as a milestone in linking the economies of the two countries by Meles Zenawi, Prime Minister of Ethiopia.

More than 90% of the project was financed by loans and grants from the African Development Bank (AfDB). The project is thought to be very crucial to Djibouti which generated energy from diesel generators.

The memorandum of understanding for power purchase agreement was signed in April 2008 but it took two years to finalize the 25-year agreement.