Prime Minister Meles Zenawi and AU Chief Alpha Oumar Konare at the laying of a cornerstone for the new Chinese funded A.U head quarters expansion on May 26,2007
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Two more banks on the menu: Buna, Gena
By Groum Abate
In the face of scarce foreign currency in Ethiopia’s banks, a successful fiscal performance and lucrative net profits in the banking industry during the past year is attracting new investors in the field.
In the last fiscal year, all the banks that operate in the country including governmental banks announced large profits.
In an otherwise gloomy business atmosphere, the past year has been a golden year so far for Ethiopian banks, giving the feeling that the banking industry is an ideal niche market for potential investors.
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AU lays cornerstone for spacious office building
China, honorary member in the celebration of Africa Day
By Groum Abate
Ethiopia hosted a celebration of African independence on Friday, with China looking like an honorary member of this struggling continent as the only non-African delegation to attend.
Chinese investment in Africa, in terms of business ties, aid and attempts to secure political influence, has soared in recent years in deals to keep Africa's natural resources flowing to China's booming economy.
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