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A Chinese company disclosed it is ready to establish a huge textile factory in Ethiopia at an outlay of U.S $ 500 Million. The company disclosed it has finished pre-investment assessments to build the factory.

On Monday, September 1, 2014, Ethiopian Airlines started its new flight to Spain’s capital, Madrid, making the city the Airline’s 10th European destination.

The state owned giant Ethiopian Insurance Company (EIC), suffered a decline in its insurance coverage decreasing down to 8.4 Billion Birr in the just ended budget year. The decline in insurance coverage resulted in the Insurer’s overall market share to drop to 41 percent.

Ethiopia Airlines announced it launched flights to Bale Robe and Kombolcha starting from Monday, September 01, 2014 and Wednesday September 10, 2014 respectively.

Ethiopia’s capital, Addis Ababa is going to have a new land lease pricing benchmark by the coming Ethiopian year. The new pricing benchmark is going to put in to consideration cost benefit analysis.

The Canadian mining company, Montero Mining and Exploration Ltd, joined hands with the Ethiopian company, Hulager General Import and Export plc, for the extraction of granite from a project entirely owned by the latter at the Moyale Graphite Project.

Bank of Abyssinia (BoA) bought a 15 storey 60 percent finished building from Saca Plc, a sister company of Ayat, for 400 Million Birr.

Bank of Abyssinia’s President Addisu Haba resigned from his position and Vice President of Operations, Mulugeta Asmare, replaced him as an acting President from Monday, September 01, 2014.

Enat Bank S.C. will open its sixth branch in Addis Ababa dubbing it Catherine Hamlin- after an Australian obstetrician and gynecologist that co-founded the Addis Ababa Fistula Hospital. The branch is going to be located around Meskel Flower.

Ministry of Trade disclosed Ethiopia has finalized works to join the Eastern and Southern African Common Market (COMESA) free market area.