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The World Bank and Addis Ababa University (AAU) signed assistance agreement amounting to five million birr on Monday, 2 December, 2013, Ethiopian News Agency reported.

AAU President Dr Admasu Tsegaye and World Bank Ethiopia Country Director Guang Chen signed the agreement.

Saudi-Ethiopian billionaire, Mohammed Al Amoudi, the largest foreign investor in Ethiopia, is planning to build two more cement plants in Ethiopia, Bloomberg reported.

The Ethiopian Ministry of Mines (MoM) signed a petroleum production sharing agreement (PPSA) with Poly GCL Petroleum Investment Ltd., a Chinese based company, Fortune reported.

Nib International Bank (NIB) reported 286.3 million birr profit after tax for fiscal year 2012/13, Fortune reported. NIB has also reported 147 birr of earning per share for the reported period.

The Ethiopian House of People's Representatives approved the US$320 million loan agreement between the Ethiopian government and the Chinese Export-Import (EXIM) Bank to finance the Addis-Adama expressway On Thursday 28, November 2013, The Reporter reported.

Ethiopia has earned over US$121 million in revenue from various minerals supplied to the National Bank of Ethiopia and overseas markets in the first quarter of the current Ethiopian fiscal year.

ASKY Airlines, an affiliate of the state owned Ethiopian Airlines, is set to launch new route to Beirut, Lebanon, according to The Reporter.

The newly-appointed CEO of ASKY, Yissehak Zewoldi, told The Reporter during the 45th African Airlines Association (AFRAA) annual general assembly, that ASKY will soon commence four weekly flight to Beirut with its Boeing B737-800 aircraft.

Singapore Airlines and Ethiopian Airlines customers will be able to enjoy seamless travel to more destinations as a result of an expanded codeshare agreement between the Star Alliance partners.

Under the agreement, codesharing has been expanded with immediate effect to Ethiopian Airlines-operated flights between Singapore and Addis Ababa, Ethiopia’s capital, via Bangkok, and flights between Addis Ababa and Pointe Noire in Congo, Accra in Ghana, Entebbe in Uganda, and Kigali in Rwanda.

Ethiopian Airlines, the fastest growing and the most profitable African airline, won the 2013 "African Airline of the Year Award" from the African Airlines Association at its 45th Annual General Assembly meeting held between 25 and 26 November 2013, in Mombasa, Kenya.

Ethiopia's state-owned Ethio Telecom said on Thursday it had selected Huawei Technologies Co Ltd, a Chinese telecom equipment manufacturer, to upgrade Addis Ababa's network infrastructure to a high-speed 4G network, Reuters reported.

The upgrade is part of a US$1.6 billion contract concluded in July and August between Ethio Telecom, Huawei and ZTE Corp., China's biggest telecom equipment makers, to expand mobile phone network throughout Ethiopia.