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United Insurance SC reported 59.87 million Ethiopian birr profit after tax in the 2012/13 fiscal year, a 65 percent growth over its performance reported a year earlier, according to Fortune.

The company made the announcement on October 24, 2013, at the Hilton Hotel, during the company’s general assembly.

Pan-African banking group Ecobank Transnational has opened its first branch in Ethiopia, Reuters reported.

The opening of the branch offices is said to help the bank establish its presence in the fast-growing East African economy and extending its African network to 35 countries.

Investment Office of Bahir Dar Town of Amhara Regional State said, it has licensed 87 investment projects with a combined capital of over 618.6 million Ethiopian birr during the first quarter of the current fiscal year, Ethiopian News Agency reported.

Investment license and registration expert with the office, Beteha Abebayehu said, the projects are in the areas of trade, construction, industry, service as well as hospitality and tourism sector.

Micro and Small Enterprises (MSEs) Development Bureau of Addis Ababa anounced job creation plan for 235,000 people during the current Ethiopian Fiscal Year.

In a press conference held Thursday, October 24, 2013, Tilahun Worku said, the jobs will be created in manufacturing, construction, agriculture, trade and services sectors.

Ethiopian Airlines, the fastest growing and most profitable African airline, will take delivery of the first of its four Boeing 777-300ERs on 7 November 2013.

The B777-300ER is the largest aircraft in the airline’s fleet with 400 passengers seating capacity.

Ethiopia has signed a preliminary agreement with a U.S.-Icelandic company, Reykjavik Geothermal, a US$4 billion geothermal power resources investment agreement, Reuters reported.

Reykjavik Geothermal and the Ethiopian government signed the agreement on Wednesday to construct a 1,000 MW geothermal power plant in Ethiopia's volcanically active Rift Valley region.

The Trade Practices and Consumer Protection Division of Ethiopia's consumer protection agency officially launched its operation on Thursday October 10, 2013, Capital reported.

The division is tasked with arbitrating, imposing administrative and civil sanctions and protecting citizens and businesses from anti-competitive and illegal trade practices.

Common Market for Eastern and Southern Africa (COMESA) organized the 27th meeting of the bureau council on the regional third party motor vehicle insurance, also known as Yellow Card scheme, yesterday October 23, 2013 in Addis Ababa, Ethiopia.

Birhane Gidey, representing COMESA Secretary General said, the meeting could serve as a visible platform to show the commitment of the regional economic integration agenda.

The Ethiopian Chamber of Commerce and Sectoral Associations (ECCSA) held a business-to-business (B2B) discussion with an Italian delegation comprising of 28 individuals representing their companies.

The meeting was held on October 14th October 2013 at the Association’s Hall.

The Ethiopian Grain Trade Enterprise (EGTE) is planning to purchase 5.5 million quintals of wheat from domestic and international suppliers, Walta Information Center reported.

The purchase, estimated to cost the Enterprise nearly 4.6 billion Ethiopian birr is aimed at stabilizing the supply of wheat, Birhane Haile, general manager of the enterprise, told Walta Information Center.