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Ethiopian Insurance Corporation (EIC), a state owned enterprise, reported 203.5 million birr profit during the first quarter of the fiscal year, Walta Information Center reported.

The companies earning includes general and life insurance services as well as other investments, according to Fikru Tsehaye, EIC’s Marketing and Strategic Management Directorate Team Leader.

Work for Youth (W4Y), a regional conference which discuss labor market transitions of young women and men and higlight youth employment initiatives in Sub-Saharan Africa will be held from 3-4 December 2013 in Addis Ababa, Ethiopia, according to a press release the International Labor Organization (ILO) sent to Ethiopian News Agency.

Oromia Insurance Company (OIC) reported a 239% rise in gross profit in the 2012/13 fiscal year, Capital reported.

OIC, established about four years ago, earned 28.1 million birr profit before tax in the reported period. The company's report presented to the general assembly indicated that, the insurance company earned 20.2 million birr net profit after tax and legal reserve.

The Ethiopian Federal Transport Authority (FTA) started implementing a new regulation which classify transport companies into five categories, Fortune reported.

The classification will be based on the capacities of the transport companies and is intended to create a transparent and modern administrative system, according to Fortune.

Elilly International Hotel, a new five-star hotel was inaugurated on Saturday, November 23, 2013, Capital reported. The 154 rooms hotel includes a penthouse and two presidential suites.

Elilly International Hotel also have a swimming pool, spa, gymnasium, night club and restaurants.

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.