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BravoCom PLC, opens its first flagship store for Tecno smartphones on Monday November 18, 2013 around Bole Medhanialem, The Reporter reported.

General Manger of Bravocom PLC, Levi Girma, told The Reporter that the concept behind the shop is to provide consumers with a new experience when shopping for smartphones. “Traditionally, consumers purchased mobile devices from small shops with salespeople sitting behind a counter.

Nyala Insurance S.C (NISCO), reported a 32.4 percent rise in net profit in the 2012/13 fiscal year, Capital reported.

NISCO grossed 70.2 million Ethiopian birr and earned 57.5 million birr net profit after tax, a 2.7 million birr increase compared with its performance a year earlier.

The Ethiopian House of Peoples' Representatives (HPR) has passed demurrage proclamation on Tuesday 19 November, 2013, The Reporter reported.

The new proclamation is said to be necessary for the export and import of goods at a competitive cost. The law is also expected to reduce delays and benefit consumers, exporters and consignees.

The National Bank of Ethiopia (NBE) inaugurated its new centralized, online, real-time, electronic (CORE) banking system after months of delay, Fortune reported.

The NBE launched its new CORE banking system, called Quantum Intellect, replacing the previous Bank Master system, on Monday, November 18, 2013.

The European Union concluded a US$287.26 million development grant agreement with the Ethiopian government on Monday November 25, 2013, Reuters reported.

The grant will be used to finance road construction and projects focusing on maternal health and drought resilience.

Ethiopian Airlines has selected Rockwell Collins to provide the full suite of avionics equipment for its new and growing fleet of Boeing 777s, which currently includes 10 aircraft. The selection includes Rockwell Collins’ MultiScan™ Threat Detection System, GLU-925 Multi-Mode Receiver (MMR), Traffic Alert and Collision Avoidance System (TCAS II) and SATCOM.

Prices for sesame and white pea beans at the Ethiopian Commodity Exchange (ECX) have jumped 25 percent and 35.7 percent, respectively, in the past two weeks, Fortune reported.

Sesame exporters attribute the price hike to rumors of shortage of the commodities in the international market, according to Fortune.

The Ethiopian House of Peoples Representatives passed a new proclamation that encourages private sector involvement in the energy sector, according to The Reporter.

The new proclamation also reestablishes the former Ethiopian Electric Agency as the Ethiopian Energy Authority. The law was passed on Tuesday 19 November, 2013 by the House of Peoples’ Representatives (HPR).

Public enterprises administered by the Ethiopian Privatization and Public Enterprises Supervisory Agency earned US$8.1 million revenue from exports during the first quarter of the current Ethiopian fiscal year, the Agency said.

Awash International Bank (AIB) reported on Saturday November 16, 2013, its yearly profit after tax has climbed 11.3 percent to 438.61 million birr, Fortune reported.

The bank also reported earnings per share (EPS) of 456 birr. A year earlier the bank's EPS stood at 469 birr. The decline in EPS is, according to the annual audited report of the Bank– owing to a 28.3 percent increase in its paid-up capital.