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Ethiopian Airlines and Austria Airlines concluded a codeshare partnership agreement effective since Monday, June 2, 2014, Walta Information Center reported.

The first Ethiopian malt factory, Assela Malt Factory, management team has decided to import 260,000 Quintals of barely at an estimated cost of 275.2 Million Birr. The company is waiting for the approval of the board of directors to execute the decision.

A Middle East based textile company, Velocity Apparel PLC, is set to establish an integrated garment factory in Mekele city. The factory is said to cost US$ 80 Million.

Ethio-South Africa Investment and Business Forum was opened on Tuesday, June 3, 2014 here in Addis Ababa, Ethiopia, Walta Information Center reported. The event will remain open for three days. 25 representatives of South African companies from the sectors of education, health, infrastructure, manufacturing and agro-processing are attending discussions on possible cooperation in trade and investment.

Ethiopian Airlines will inaugurate its aviation academy expansion work next month. The expansion work was done at the cost of US$ 55 Million, according to The Reporter. The expansion work include a newly built multipurpose building that has classrooms, dormitories, library, IT center and cafeterias.

An amendment for the Ethiopian Investment Proclamation was sent to the House of Peoples’ representative s for discussion, Capital reported.

The Ethiopian-Turkey Trade and Investment Forum took place in Addis Ababa on Friday, May 30, 2014 at the Prime Minister Office. The Forum brought Turkish businesses and high level Ethiopian Official on the same table for discussions.

World Bank’s Board of Directors approved a US$ 200 Million loan to Ethiopia on Thursday, May 29, 2014. The loan is extended to develop Ethiopia’s potential geothermal sites at Aluto and Alaloband sites, in the rift valley of the Afar State.Two of World Bank’s trust funds, International Developmental Association (IDA) and Scaling Up Renewal Energy Program (SREP), are expected to finance the loan.

Aleta Land Coffee, an Ethiopian coffee firm, announced plan to open trans-border coffee shop in Asia beginning from the next year, according to The Reporter.

A fertilizer blending plant built at a cost of 31 Million Birr was inaugurated on Sunday. The plant is located in the Oromia State Tulu Bulo town, Ethiopia.