img

News

World Bank supports the Cape Verdean government to privatise electricity and eater company

3 December 2019
| Cabo Verde
The World Bank will provide technical assistance from this month onward to the Cape Verdean government with a view to the privatisation of state power and water company Electra, announced the Minister of Industry, Trade and Energy in statements made on Monday in Praia.

Growth of Mozambican economy slows in the third quarter of 2019

3 December 2019
| Mozambique
Mozambique's economy grew at a year-on-year rate of 2.0% in the third quarter of 2019, maintaining its downward trend since the first quarter of the year, according to the National Statistical Institute (INE) when disclosing the National Accounts for the period.

China State Council appoints senior officials of the 5th Government of Macau

2 December 2019
| China | Macau
The State Council of the People's Republic of China has appointed the senior government officials and the attorney general of the Macau Special Administrative Region, under the terms of the Basic Law, under the nomination of the future Chief Executive of the Macau Special Administrative Region, Ho Iat Seng, announced the Information Office.

Macau gaming revenue drops 8.5% in November

2 December 2019
| Macau
Gross gaming revenue at Macau casinos fell 8.5% year-on-year in November to 22.877 billion patacas (US$2.859 billion), the Gaming Inspection and Coordination Bureau said.

Mozambican government pays the state’s debt to 4,000 companies

2 December 2019
| Mozambique
Four thousand state creditors for the provision of goods and services from 2007 to 2017, but whose payments required approval by the Administrative Court will receive the arrears owed to them, the Confederation of Economic Associations of Mozambique (CTA) announced.

National Bank of Angola to stop buying currency from oil companies

2 December 2019
| Angola
The National Bank of Angola from 2 January 2020 will stop purchasing foreign currency from oil companies operating in the country and will pass this duty on to commercial banks, the governor of the central bank said on Friday in Luanda.

Angolan banks have until June 2020 to meet capital requirements

2 December 2019
| Angola
Banks under review in Angola that require capital increases will have until June 2020 to rectify the situation, the Angolan National Bank (BNA) governor, José de Lima Massano, announced on Friday in Luanda.

Angola´s Sonair stops flying with Boeing 737-700

2 December 2019
| Angola
Angola's Sonair airline stopped running domestic commercial flights with the Boeing 737-700, which provided the air link between Luanda and the cities of Cabinda, Catumbela (Benguela) and Lubango (Huila), on 30 November, a company source said.

Mozambican commercial banks see solid performance in 2018, KPMG says

29 November 2019
| Mozambique
Commercial banks operating in Mozambique performed well in 2018, with profits rising by 28% from 13.4 billion meticais in 2017 to about 17.2 billion meticais, according to a study released in Maputo by KPMG Auditors and Consultants.

Macau saves 800 million renminbi with an agreement with Mainland China to avoid double taxation

29 November 2019
| China | Macau
Macau is expected to save at least 800 million renminbi (US$114 million) in tax with the signing of the 4th protocol on the agreement with Mainland China to avoid double taxation and prevent income tax evasion, said the Macau Monetary Authority.

First batch of rough diamonds subject to Kimberley Process enters Macau

29 November 2019
| Macau
The first batch of rough diamonds subject to supervision and control by the Kimberley Process Certification Scheme (KPCS) arrived in Macau on Thursday, after customs clearance and verification of the respective certificate, the Economic Bureau (DSE) said.

Angola’s Biocom produces 110,000 tonnes of sugar in the 2019 campaign

29 November 2019
| Angola | Brazil
Angolan bioenergy company Biocom has produced 110,000 tonnes of sugar in this campaign from May to November, a percentage increase of 50.6% or 37,000 tonnes compared with the previous campaign, said the Deputy Director-General of the company.

Restoration of facilities of Angola’s Edipesca to begin in 2020

29 November 2019
| Angola
The refurbishment and modernisation of the Luanda facilities of Angolan fishing products distributor Edipesca will start in the first quarter of 2020, the Angolan minister of Fisheries and the Sea, Maria Antonieta Baptista, announced on Wednesday in Luanda.

Angola plans to focus on developing agro-industrial hubs

29 November 2019
| Angola
The creation of tens of thousands of jobs at the Cacuso Agro-Industrial Hub in Angola's Malanje province could become a reality following total investments of US$863 million, a consultant from Indian group Mahindra said recently in the city.

China was the third-largest foreign investor in Brazil in the third quarter of 2019

28 November 2019
| Brazil | China
China was the third-largest foreign investor in Brazil in the third quarter of 2019 and its companies invested US$874 million in capital, according to the Foreign Trade Bulletin - Selected Countries of the Executive Office of the Chamber of Foreign Trade of the Brazilian Economy Ministry.

Gigajoule Power and Total groups invest in Mozambique to import natural gas

28 November 2019
| Mozambique
South African group Gigajoule Power and France's Total on Wednesday in Maputo signed a joint development agreement to import liquefied natural gas (LNG) through the port of Maputo from the end of 2022, the international media reported.

Vale Group plans to increase coal production in Mozambique in 2020

28 November 2019
| Brazil | Mozambique
The Vale mining group intends to produce 15 million tons per year at the Moatize coal mine, Tete province, Mozambique, in the second half of 2020, the Brazilian group said in a statement announcing US$3.2 million in impairments.

Capital gains charges used in Mozambique for emergency expenses

28 November 2019
| Mozambique
The Mozambican government has withdrawn US$248 million from the US$880 million capital gains tax charged on the sale of assets of the Anadarko Petroleum group to the Total group to finance “emergency expenses,” said the Minister of Economy and Finance.

Mozambique Stock Exchange launches Third Market

28 November 2019
| Mozambique
The Mozambique Stock Exchange (BVM) has launched the Third Market, aimed at preparing companies of any size so that their shares can be listed over time, the institution's president Salim Valá said on Wednesday in Maputo.

Angolan Government considers draft amendments to several Codes

28 November 2019
| Angola
The Angolan Economic Commission of the Council of Ministers on Wednesday in Luanda examined the draft law amending the General Tax Code, a document aimed at ensuring greater efficiency by the Tax Administration, according to a statement issued at the end of the meeting.

Get our latest news

MACAUHUB MACAUHUB
MACAUHUB FRENCH