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Ethiopia and South Korea signed an agreement to avoid double taxation on the 5th of December in Addis Ababa.  The agreement is planned to promote investment opportunity and enhance economic development it was said.

The agreement is intended to help the two countries avoid double taxation and prevent fiscal evasion on income taxes it was said at the signing ceremony. The agreement is also expected to create favorable conditions in relation to capital flow and the free movement of individuals for business as well as other benefits.

The agreement was signed by Ahmed Shide, Finance and Economic Development State Minister and Kim Hyok Chol, South Korean Ambassador to Ethiopia, signed the agreement.

Source: Ethiopian News Agency

Ethiopian Airlines, one of the leading African airline announced that it has become strategic partner of the new Malawian Air with acquisition of 49 per cent equity shareholding. The remaining 51% of the shares is held by the Malawian Government and Malawian private investors.

The shareholder agreement for Malawi Airlines was signed between Dr. Cornelius Mwalwanda, Deputy Minister of Finance of the Government of the Republic of Malawi and Tewolde Gebremariam, Chief Executive Officer of Ethiopian Airline in Lilongwe on Thursday, 11 July 2013.

Ethiopian, Africa’s largest airline, announced that it is welcoming back business and leisure travelers with programs aimed at safeguarding their health and safety, following the ease of travel restrictions around the globe.

Ethiopia has announced that it has successfully completed the second round filling of its momentous dam on the Blue Nile, the Grand Ethiopian Renaissance Dam (GERD), with 13.5 billion cubic meters of water.

Awash International Bank, Ethiopia awarded three architectural firms for branch office building designs. The three firms presented architectural designs for AIB branches in Hawassa and Addis Ababa.

The design for the 6 storey Hawassa branch presented by MH Engineering was commended for flexible office arrangements by the jury which selected the winners.

Zeleke Belay’s design for the Awash Branch in Lideta, Addis Ababa offered easy street access while the Bulbula, Addis Ababa building design submitted by Studio Seven won for its simple composition, easy access, and good climate control potential according to the jury.