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Addis International Bank (AdIB), reported 27.2 million birr profit after tax, a 272 percent increase compared to a year earlier, Fortune reported.

The AdIB’s interest on loans, advances, central bank bonds, treasury bills and deposits rose by 166 percent, to reach 32.3 million birrr. The bank earned 52.6 million birr from non-interest income, such as gains on foreign exchange dealings, service charges, commissions and others.

Cabey PLC, the largest importer and distributor of Bridgestone car tires in Ethiopia, inaugurated a tire maintenance and retread center, according to The Reporter.

The retreading facility situated on a 10,000 square meter plot in Akaki Kality Sub city, costed 15 million birr.

The Ethiopian Bankers Association (EBA) elected Addisu Habba, as its new president, The Reporter reported.

The General Assembly meeting of the Association held last Thursday elected Addisu, current president of Abyssinia Bank, following the resignation of the Association's and United Bank's previous president Berhanu Getaneh.

Cooperative Bank of Oromia (CBO) reported gross profit of 267 million birr for the 2012/13 fiscal year, Capital reported.

Abera Deressa, board chair of CBO siad, “Global growth dropped to almost three percent in this past year, which indicates that about a half a percentage point has been shoved off the long-term trend since the crisis emerged,” addressing the company's share holders during its general assembly on November 30 in Adama town.

The 2013 Africa-China Commodities, Technology and Services Expo was opened yesterday in Addis Ababa, Ethiopia.

Over 150 enterprises from Fujian, Hunan, Shandong, Jiangsu, Shanghai, and Guangdong Provinces in China are participating in the expo.

The Ethiopian Agricultural Research Institute said it will introduce new improved wheat varieties to farmers, Ethiopian News Agency reported.

After visiting model farms growing improved wheat varieties in Gurage Zone of South Ethiopia Peoples' State, Crop Research Director with the Institute, Dr Asnake Fikire said, the new varieties produce high yield while resisting diseases and drought.

An international trade fair and bazaar organized in connection with the 8th Nations, Nationalities and People’s Day opened in Jijjiga town, Somali Regional State on Tuesday, Walta Information Center reported.

Ethiopian Airlines, the fastest growing Airline in Africa, announces the commencement of a new flight services to Singapore at the inaugural ceremony held at Bole International Airport, Ministerial Salon on December 03, 2013.

The event was graced by H.E. Mr. Getachew Mengistie, State Minister of Transport of the FDRE, H.E. Mr. Tadesse Haile, State Minister of Industry, H.E Mr. Lee Yi Shan, Senior Minister of State for Trade and Industry of Singapore, Mr. Tewolde GebreMariam, CEO of Ethiopian Airlines and other invited guests.

Ethiopian Prime Minister Hailemariam Desalegn and Sudanese President Omar al-Bashir inaugurated the electric transmission line interconnecting the two countries, Xinhua reported.

The inauguration was held on 4 November, 2013, in Geddarif State in eastern Sudan.

Samsung officially kicked off its academic programs at its new Engineering Academy in the Addis Ababa Institute of Technology (AAiT) with the first class of 60 students drawn from AAiT, Capital reported.