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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.

Oromia International Bank (OIB) posted a 71.9 percent rise in annual profit. The bank's profit for the year ended on June 30, 2013 totaled 77.5 million birr, Fortune reported.

The Bank’s return on average equities rose to 17.34 percent from 14.8 percent. The bank also managed to mobilize a total deposit of close to 3.1 billion birr, a 44 percent rise from earlier a year, Fortune reported citing the bank's annual audited report.

The Southern Nations Nationalities State Revenues Authority said it has collected over 668 million birr in revenue in the first quarter of this fiscal year, Walta Information Center reported.

Authority Revenue Development and Planning Support Process Owner, Tamiru Teferi, told Walta Information Center, that the revenue was obtained from direct and indirect taxes as well as other income titles.

Ethiopia earned US$44 million from the export of leather and leather products in the first quarter of the current fiscal year, the Ethiopian Leather Industry Development Institute said. 

Institute Corporate Communication Directorate Director, Berhanu Sirjabo, told Walta Information Center, the amount was earned from the export of finished leather, footwear, leather gloves and other leather products.

The Bank of Abyssinia (BoA), reported a 21.8 percent rise in gross profit for the 2012/13 fiscal year, Capital reported. The bank’s financial report indicated that BoA earned 351.5 million birr during the reporting period, according to Capital.

BoA’s net profit after tax in the past fiscal year stood at 264.7 million birr . The bank profited 215.7 million birr in the 2011/12 fiscal year.

Petram PLC introduced Sales Data Collector (SDC), a new device that helps taxpayers store data without paper and sends end-of-day report (Z-report) automatically to the Ethiopian Revenue and Customs Authority.

The device is developed by BMC International, a Japanese company that helped the Ethiopian government launch its fiscal cash register program.