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Angel’s Cotton & Textile Production PLC – a Turkish textile company is to launch production of textile products in January, 2014, Fortune reported.

The factory is being construed in Legetafo Industrial Zone, 25kms from Addis Abeba, in Oromia Regional State, on a 2.5 hectare plot.

Ethiopia's Bunna International Bank (BIB) posted 59.2 million birr after tax during the the 2012/13 fiscal year, Fortune reported.

BIB also reported EPS of 211.3 birr, a 59.47 percent increase for its fourth year of operation.

The Adet Agricultural Research Center is set to introduce two improved high yield bread wheat varieties to farmers in Amhara State.

Dr. Tesfaye Feyesa, Director of the Center said, the Center will introduce the new varieties to farmers at the trial site in Gozamina Woreda in East Gojjam Zone.

The Oromia Credit and Saving Enterprise announced that it has disbursed over 306 million Ethiopian birr in loan to beneficiaries during the first quarter of the current fiscal year.

The Enterprise told Ethiopian News Agency that it has distributed the loan to 96,000 beneficiaries through its 294 branch offices.

The Ethiopian Ministry of Industry signed on agreements with several contractors for the 2nd phase construction of the Bole Lemi Industry Zone construction Thursday, October 31, 2013.

The agreement was signed with 14 contractors and a consultant engineer. All construction work on the site will be assigned to local contractors, except a Chinese contractor for the road construction, according to Ethiopian Radio and Television Agency.

Tecno Group, a mobile phone assembly and production company in Ethiopia held a groundbreaking ceremony on Thursday for its phase III factory in Addis Ababa, Walta information Center reported.

The foundation stone was laid in the ICT Park currently under construction by the Ethiopian government to support the development of information communication technology in Ethiopia.

Ethiopian Airlines, the fastest growing and most profitable African airline, colorfully celebrated 55 years of uninterrupted service to Frankfurt, Germany on October 24, 2013.

Ethiopian CEO, Mr. Tewolde Gebremariam, attended the celebrations in Frankfurt along with Dr. Renate Sterzel, City Councilor of Frankfurt, Dr. Stefan Schulte, Chairman of the Executive Board of Fraport AG, Mr. Mark Schwab, CEO of Star Alliance, H.E. Mr. Fesseha Asegedom, Ambassador of Ethiopia to Germany, and Ms. Dennenesh Zewdie, famous Ethiopian actress in Germany. Also present were representatives from the diplomatic community, the African Diaspora and various partners including Lufthansa, travel agencies and tour operators.

Ghion Hotel and other four state-owned enterprises put up for sale by the Ethiopian Privatization and Public Enterprises Supervising Agency (PPESA) have failed to attract bidder, Fortune reported.

In addition to Ghion Hotel, PPESA has also floated Weyra Transport S.C, Transport Construction Design S.C, Agricultural Mechanization Service Enterprise and Artistic Printing Enterprise. All enterprises except Weyra Transport has been on the privatization auction block previously.

The Ethiopian Space Science Society (ESSS) established its first space observatory at Entoto Mountain, in Addis Ababa, Ethiopia on October 24 2013, Capital reported.

The Observatory is installed 3,200 meters above sea level on the Entoto Mountain, an ideal location because of its minimal cloud cover, moderate winds and low humidity, according to experts.

A national workshop on mainstreaming trade into Ethiopia’s national development strategies launched in Addis Ababa, Ethiopia on Wednesday 30 August, 2013.

The aim of the workshop is to support trade policy making by strengthening the capacity of key government agencies that are directly responsible for mainstreaming trade into the national development strategies, Ethiopian News Agency reported.