The African Development Bank (AfDB) recommends coastal African countries, including Portuguese-speaking countries, to expand port infrastructure as a means of improving integration on the continent.
Sonangol, the national oil company of Angola, is close to sales of assets that should earn it billions of dollars and enable it to reduce its heavy debts and invest more in the oil sector, the engine of Angola’s economy.
An investment of 32.7 million euros, currently in the process of completion, has made Praia International Airport in the capital of Cabo Verde (Cape Verde) one of the most modern in the region, according to the African Development Bank (ADB), which is financing the work.
Angola’s President João Lourenço has turned his attention to the port sector, both in an effort to assert his authority politically and also to improve the ports themselves. Angola has four main existing and planned ports running north to south: Caio in Cabinda, Luanda and the associated planned port of Barra do Dande, Lobito and Namibe, but Luanda is currently by far the most important. However, more capacity will be needed if the non-oil economy picks up as hoped, while mining export capacity is needed further south.
Angola has taken another step towards reforming the oil sector, the country's main source of revenue, with the creation of the National Oil and Gas Agency (ANPG), made official this month.
The World Bank has revised its economic growth forecasts for Angola, Cabo Verde (Cape Verde) and Mozambique in 2019 and 2020 upwards, unlike Guinea-Bissau.
The government of Mozambique has been involved in the last few weeks in intense negotiations with seven countries to secure funding for one of its largest natural gas projects and overcome scepticism about whether it will honour its debt commitments. The Rovuma Area 1, in the Rovuma Basin, involves an estimated investment of US$25 billion.
The extractive industry has been boosting Mozambique's economy and will increasingly do so with the start of natural gas exploration in 2023, but the country needs a broader growth model, according to the World Bank.
The Angolan government appears determined to reform oil company Sonangol in an effort to reverse the country’s declining oil fortunes. President João Lourenço has made it clear that he intends to overhaul the firm ever since he replaced Isabel dos Santos with Carlos Saturnino as chairperson of the parastatal.
China and the Portuguese-speaking countries were linked in 2018 by a number of new ventures, and the process of getting closer continues in the new year under the New Silk Road.
The fate of the Greater Sunrise gas project in Timor-Leste hangs in the balance after two of the main investors pulled out, selling their equity shares to the government of Timor-Leste.
Cabo Verde (Cape Verde) is in the top three countries in sub-Saharan Africa with the highest quality public policies and institutions, according to a list drawn up by the International Development Association (IDA) of the World Bank Group.
Rising domestic production and import substitution has become a major concern for the new Angolan government, which now aims to stimulate the economy through new investments and prevent the outflow of foreign exchange.
Angola's Private Investment Law (LIP) regulation, which entered into force on 30 October, increases tax benefits for investors, at a time when the country intends to stimulate its non-oil economy and the export sector.
Clovis Chu entered the cockpit of an aeroplane for the first time when he was travelling to the Philippines with his family. At seven years old, the complex array of equipment and the spectacular view of the sky left a lasting impression on his young mind.
China's support to Angola following the Angolan President's recent visit to Beijing reached US$6 billion, João Lourenço said in a recent interview with Portuguese weekly newspaper Expresso.
Designing model car kits that are manufactured in Zhongshan and Gongguan, for sale worldwide.
The Iberian Peninsula could become a "bridge" for the Belt and Road strategy to reach Africa and Latin America, with a "critical point" in the Portuguese port of Sines, south of Lisbon, according to a new study that was recently released.
Built some time before 1892, the restoration of the pharmacy was a long and difficult job for the Cultural Affairs Bureau, after the Macao government acquired the property in 2011.
China Tianying, Farfetch, Super Bock, Keeway and two technology companies have been given awards by the Luso-China Chamber of Commerce and Industry (CCILC), at a time when relations between Portugal and China are at a high point in their history, according to the authorities of the two countries.