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Ethiopian Airlines maintenance facility joins a worldwide network of more than 60 facilities authorized to work on Bombardier commercial and business aircraft

Dubai, United Arab Emirates – Bombardier Aerospace celebrated its growing support network in Africa today by welcoming one of the continent’s leading carriers, Ethiopian Airlines of Addis Ababa, as yet another Authorized Service Facility (ASF) for commercial aircraft on the continent.

Grant Thornton (GT), formed a joint venture with a local firm, AW Thomas Consulting to join Ethiopia's professional services market, Fortune reported.

GT firms in Oman and Yemen has entered into a joint venture agreement with AW Thomas Consulting to create Grant Thornton Ethiopia.

Habesha Breweries S.C sold 66,301 shares on November 16, 2013, following the company's decision to increase its capital to 550 million birr from the current 250 million birr , Fortune reported.

The Company issued 300,000 new shares and offered its existing shareholders 200,000 of the new shares without the premium, which is asked from new buyers, Fortune reported citing Yonas Alemu, Marketing & Business Development manager of Habesha Breweries.

The Ethiopian Trade Enterprise (ETE) is to open its first three cash-and-carry stores in Addis Abeba in the first quarter of 2014, Fortune reported.

The stores which will be named Alle Bejimla, Amharic for “wholesale is available”, will initially commence operations by supplying goods to businesses like kiosks, cafes and hotels, according to Fortune.

Nile Insurance SC reported 41.72 million birr profit after tax in the 2012/13 fiscal year, Fortune reported citing the Company’s annual report.

Nile Insurance's profit after tax for FY2012/12 was up 24.85 percent, from 33.4 million birr a year earlier. Nile also recorded earnings per share of 445 birr.

Ethiopian Airlines has signed a 10-year OnPoint solution agreement with GE for maintenance, repair and overhaul of its GE90 engines.

Under this agreement, GE will maintain Ethiopian’s GE90 engines that power its 16 B777 aircraft, which comprises of six B777-200LR, six B777F, and four B777-300ER. Tewolde GebreMariam, CEO, Ethiopian Airlines said, "We are pleased to have reached an agreement on the maintenance of our GE90 engines.

The Ethiopian Ministry of Agriculture (MoA) says it is on track to achieve its target to harvest 277 million quintals of main crops for this harvest season, Ethiopian Radio and Television Agency reported.

MoA Minister, Tefera Deribew made the announcement on Thursday citing a pre-harvest assessment.

Ethiopia's inflation rate jumped to 8.5 percent in October from 6.9 percent a month earlier, driven primarily by higher food prices, Reuters reported, citing data from the Ethiopia's Central Statistical Agency.

Ethiopian Aviation Academy graduated 39 pilots and 45 Aviation Technicians at a ceremony held at Ethiopian Airlines headquarters on Tuesday, November 12, 2013.

Among the 39 Pilot graduates, 20 are the second batch of MPL trainees. This batch of graduates comprise of cadets from Yemen and South Sudan.

The Ethiopian Electric Power Corporation (EEPCo) awarded a solar power project to U.S., based companies Global Trade and Development Consulting and Energy Ventures last week, Capital reported.

Alemayehu Tegenu, Minister of Water, Irrigation and Energy, told Capital that the project will be launched before the end of the Growth and Transformation Plan (GTP) period in the coming fiscal year.