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Chinese company BYD to build surface metro in Salvador, Brazil

18 February 2019
| Brazil | China
Chinese company BYD, which specialises in energy solutions, has signed a contract to build the Salvador metro railway system in the state of Bahia in northern Brazil.

Recession in Angola in 2018 stands at around 1.7%

18 February 2019
| Angola
Angolan economy and planning minister Pedro Luís da Fonseca warned that Angola is expected to have posted a recession of 1.7% in 2018, according to new forecasts by economists consulted by financial news agency Bloomberg.

Cimenfort to install cement plant in Cabinda, Angola

18 February 2019
| Angola
The chairman of Cimenfort's Board of Directors, Paul Heng, announced that a cement plant with capacity to produce 350 tonnes per year will be installed in the Fútila Industrial Complex in Cabinda, Angola this year.

Government of Mozambique to launch public tender for management of Beira fishing port

18 February 2019
| Mozambique
The Mozambican government plans to launch a public tender for the management of Beira's fishing port this year, according to Rádio Moçambique.

Angola must be self-sufficient in production of lubricants and fuels, President says

15 February 2019
| Angola
Angola's oil industry should be self-sufficient in lubricant and fuel production as well as being competitive, President João Lourenço said on Thursday in Luanda.

Angola’s economy expected to grow by 1.9% in 2019, after contraction in 2018

15 February 2019
| Angola
Angola's economy, which will continue to depend on the oil industry, is expected to grow 1.9% this year, after contracting 0.7% in 2018, according to the Economist Intelligence Unit.

Angola’s Sonangol sets up partnership with Seadrill group

15 February 2019
| Angola
Sonadrill, a partnership between Angola's national oil and gas company Sonangol and the Seadrill group, will ensure the commercial and operational management of four drilling units in Angolan waters, Sonangol said.

Government of Mozambique wants to end 2019 with a bank branch in each district

15 February 2019
| Mozambique
The Mozambican government plans to reach the end of 2019 with a bank branch opened in all 154 districts of the country, the Council of Ministers spokesperson said in Maputo this week.

World Bank helps Mozambique reduce carbon emissions

15 February 2019
| Mozambique
The World Bank has announced that it will grant up to US$50 million to Mozambique to help the country reduce carbon emissions and deforestation, according to a statement released this week in Washington.

Angola’s Capital Markets Commission has new regulations

14 February 2019
| Angola
Some of the key pieces of the legal framework of the capital market in Angola were recently approved and came into effect on 5 February, the same day they were published, the China-Lusophone Brief (CLBrief) reported.

Mozambique’s domestic public debt continues to rise, central bank says

14 February 2019
| Mozambique
Mozambique's domestic public debt including Treasury Bills, Bonds and advances from the Bank of Mozambique reached 112.525 billion meticais (US$1.787 billion) at the end of January, the central bank said.

Economist Intelligence Unit says Mozambique is an “authoritarian regime”

14 February 2019
| Mozambique
Mozambique is currently defined as an "authoritarian regime," with a rating of less than four out of ten possible points, according to the Democracy Index of the Economist Intelligence Unit.

Industrial hub of Fútila delivered to the Institute of Industrial Development of Angola

14 February 2019
| Angola
The Industrial Development Institute of Angola (IDIA) took delivery of the concession on the Fútila Industrial Hub, in a ceremony attended by the Minister of Industry, Bernarda Martins, the Angolan press reported.

Cabo Verde to have permanent representation of the World Bank

14 February 2019
| Cabo Verde
The installation in Cabo Verde (Cape Verde) of a permanent representation of the World Bank is an "example of confidence" in the country, its institutions and its future, the deputy prime minister and finance minister said on Wednesday in Praia.

Airbus consortium builds Angola’s new telecommunications satellite

13 February 2019
| Angola
The Angosat-2 telecommunications satellite is being built by the European Airbus consortium since April 2018 and is expected to be put into orbit in 2021, said the Angolan Minister of Telecommunications and Information Technology.

Indian group plans to start importing natural gas from Mozambique in 2024

13 February 2019
| Mozambique
Indian state group Bharat Petroleum Corporation Ltd (BPCL) plans to import natural gas extracted from the Rovuma basin in Mozambique within five years, a group official said.

Mozambican government creates entity to develop Mphanda Nkuwa dam

13 February 2019
| Mozambique
The Mphanda Nkuwa Hydroelectric Project Implementation Office (Gmnk) will be the entity responsible for coordinating and carrying out the necessary actions for the development of the project, according to the Mozambican Ministry of Mineral Resources and Energy.

Angola sells 8.40 million carats of diamonds in 2018

13 February 2019
| Angola
Angola's national diamond trading company, Sodiam sold 8.4 million carats of diamonds in 2018, which accounted for revenue of US$1.22 billion, a company executive said on Tuesday in Luanda.

Angola wants to polish 20% of the diamonds extracted in the country

13 February 2019
| Angola
The Angolan private sector will soon cut and polish 20% of the diamonds mined in the country, with the remaining 80% being exported in the rough, the Minister of Mineral Resources and Oil said on Tuesday.

Angola closes trade offices abroad

12 February 2019
| Angola
Angola's trade representations abroad will be closed by 28 February following an order issued by the Ministry of Trade and signed by Minister Jofre Van-Dúnem Júnior.

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