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Standard Bank Group, South Africa's largest financial services group is planning to establish a representative offices in Ethiopia, the Bank's spokesperson said on Monday. Standard Bank is also planning to set up representative office Ivory Coast, the bank's latest move to expand into sub Saharan Africa, where it already has operations in 18 countries.

Ethiopia, Africa's second most populous nation after Nigeria, is seen as a potentially big market for foreign banks, although the financil sector of the country still remains closed to foreign companies.

Standard Insurance S.C. is preparing to enter the Ethiopian insurance market within the next few days, positioning itself as the country’s 19th insurance company.

Ethiopia's National Standards Council is expected to approve 1,098 national standards in its meeting to be held this coming Thursday, according to the Ethiopian Standards Agency.

Daniel Zenebe, Communication and Public Relations Head with the Agency, told Walta Information Center that, standards dealing with agriculture, food, textiles and leather, construction, engineering, chemical products, electro mechanical and health are among the sectors expected to be approved by the Council.

Starwood Hotels & Resorts Worldwide Inc. has inked a deal with Alemgenet Trade and Industry PLC to open Four Points by Sheraton in Addis Ababa. Four Points by Sheraton- a mid- scale brand- spearheads Starwood’s growth in the mid-market segment in Africa.

Gambella Regional State of Ethiopia has supplied over 1160kg pure gold worth over US$50 million to the National Bank of Ethiopia (NBE) during the just ended Ethiopian fiscal year, the regional mines agency said.

The Agency told Ethiopian News Agency that the gold was supplied to the Bank by traditional miners. It said over 90 per cent of the stated amount of gold was supplied from Dimma Woreda.