Angola – Page 132

Basic interest rate in Angola unchanged at 12 pct

1 March 2016

The monetary policy committee of the National Bank of Angola decided to keep key interest rates unchanged, such as the basic rate of interest or BNA rate, which remained at 12 percent, the Angolan central bank said in a statement. The committee, which met Monday in Luanda, kept the marginal lending rate at 14.00 percent the seven-day deposit facility at 1.75 percent [per year.

Bank of Angola issues public debt at an interest rate of 16.58 pct

1 March 2016

The National Bank of Angola (BNA) placed public debt issued in the form of Treasury Bills in the week from 22 to 26 January at interest rates between 14.15 percent and 16.58 percent, the Angolan central bank said. In the week in question, the BNA, as the state operator, placed treasury securities in the primary market totalling 58.1 billion kwanzas, 43.3 billion in Treasury Bills and 14.8 billion kwanzas in Treasury Bonds.

Angolan bank announces stake in Portuguese bank BPI

29 February 2016

Angolan bank Banco BIC has a share of 2,.28 percent in Portuguese bank Banco BPI and respective voting rights, the bank said in a statement institution issued Friday through the Portuguese Securities and Exchange Commission, CMVM. The stake is divided into 1.90 percent held directly by BIC and 0.38 percent held by the chairman of the board of directors, Fernando Teles and administrator Fernando Duarte.

Crises in Angola, Brazil and China may lead to drop in exports from Portugal

29 February 2016

The bleak economic outlook in key markets for Portugal such as Angola, Brazil and China, may lead to a drop in Portuguese exports to those countries, according to a recent report by the European Commission. The document also said that in addition to a fall in Portuguese exports to these countries, there could also be a decrease in foreign direct investment (FDI) from these countries in Portugal.

Angola produces more oil in 2015 but revenues fall 34 pct

26 February 2016

In 2015 Angola produced over 649 million barrels of oil, a 6 percent increase year on year and a daily average of 1.779 million barrels, Angolan state oil company Sonangol said Thursday in a statement.

Angola regulates law on merchant navy and ports

25 February 2016

The government of Angola has approved a set of regulations to regulate the law on the merchant navy, ports and related activities, said Wednesday in Luanda the minister of Transport, Augusto Tomás. Specifically, the government approved the regulations of the National Integrated System for Maritime Traffic Control, Piloting at National Ports, Sea Search and Rescue System, Maritime Staff, as well as the regulation on the Safe Capacity of Ships and Vessels.

Government of Angola to exercise greater control over forests and wildlife

25 February 2016

Closer control will be exercised on forests and wildlife in Angola, once the country's parliament approves a draft law on the sector, which was discussed Wednesday at a cabinet meeting. The minister of Agriculture, Afonso Pedro Canga, said at the end of the session of the Council of Ministers that the draft law on forests and wildlife would replace a law dating back to the 1940s and 1960s, according to Angolan news agency Angop.

Angolan airline receives two more Boeing 777 aircraft

24 February 2016

The fleet of Angolan airline Taag by next April will take delivery of another two Boeing 777 aircraft, said Tuesday in Luanda the executive director William Boulter.

Company from the Netherlands supports potato production in Angola

24 February 2016

An agricultural sector company from the Netherlands will support farmers in the irrigated area of Matala, in Angola's Huila province, in the production of potatoes on a large scale, said Monday the president of the 1 de Maio Cooperative. Victor Fernandes also told Angolan news agency Angop that this was a private initiative, and for the first phase over 100 hectares would be prepared for potato production.

Angola taken off money laundering blacklist

23 February 2016

The National Bank of Angola (BNA) is no subject to the inspection process for money laundering and financing of terrorism (AML/CFT), according to a recent report by the Financial Action Task Force (FATF), the bank said. The BNA said in a statement that the decision was taken following measures taken by the government, which implemented a wide ranging governance programme and of compliance with internal and external regulations, to ensure that the Angolan financial system is aligned to international and regional requirements.

Tourist Institute of Angola will be built in Moxico

23 February 2016

Construction of the future Tourist Institute of Angola, an institution dedicated to the training of staff for the tourism sector, will begin this year in the city of Luena, eastern Moxico province, said Monday the provincial director of Hospitality and Tourism. Lutete Mariz told Angolan news agency Angop that the foundation stone of the institute, which is expected to have 60 classrooms and other facilities, is expected to be laid in the second half of the year.

Angola’s first satellite costs US$300 million

22 February 2016

The project to design and build the first Angolan satellite, Angosat-1, has an estimated cost of US$300 million, said Saturday in Luanda the minister of Telecommunications and Information Technology. José Carvalho da Rocha also said that the funding involves several additional contracts related to the project, such as the contract to build the Mission Control Centre and the management of the satellite's orbital position.

Government of Angola calls for cattle production to replace imports

22 February 2016

The Minister of Agriculture of Angola Saturday invited the private sector to engage in the production of animals for slaughter in order to make the country stop spending large amounts of foreign currency on importing meat for human consumption. Afonso Pedro Canga made the call in Menongue, as part of the launch, in the municipality of Cuchi,of the 40 Fazendas (40 Farms) farming project, a government initiative in partnership with Brazilian group Costa Negocios, by setting up Bovinos do Sudeste de Angola (BSA).

Angola bans re-export of imported food products

19 February 2016

Re-export of food products that Angola imports for domestic consumption will be banned under a joint decree of the Ministries of Trade and Finance currently being drafted, announced the Angolan Minister of Trade.

Angola creates National Council of Prices

19 February 2016

The National Council of Prices of Angola's main mission will be to draw up a national pricing policy to be approved by the government, according to an executive order signed by the Angolan finance minister, Armando Manuel. The Council, chaired by the Minister of Finance, will also be responsible for managing"market regulation policies" and supervising "activities carried out in the area of pricing."

US Exim Bank in Angola to promote US products

19 February 2016

A representative of the United States Export-Import Bank (ExIm) of the United States will meet with major banks operating in Angola and with government officials to provide information about its funding programs, the bank said in a statement. Cited by Angolan news agency Angop, the statement said that the Director of Global Business Development for Africa, Rick Angiuoni, would provide information concerning the financing mechanisms to support trade between the United States and other countries, including Angola.

Angola wants to stabilise the price of diamonds

18 February 2016

Angolan national diamond company Endiama plans to negotiate with the world's largest producers to reduce the quantity of diamonds they sell in order to make room for the expected increase in Angolan output, the chairman of the state company said in Luanda. Sumbula after announcing that Angola's production is expected to reach 8 million carats in five years, with the exploration of the Luachi kimberlite, said that this increase will force a negotiation with the other producers to circumvent the increased supply of the product and, consequently, a decrease in prices.

ENI group starts extracting more oil in Angola

18 February 2016

Italian oil group ENI has begun drilling for oil in Mpungi field in the deep waters of Angola about 350 kilometres northeast of Luanda, Angolan state company Sonangol said in a statement Tuesday. Mpungi is the third field in the Pólo Oeste project to go into production after the Sangos and Cinguvu fields and will contribute to increase production of Block 15/06, which will rise to 100,000 barrels of oil per day.

Economic situation in Angola lowers Portuguese exports

17 February 2016

Sales to Angola by Portuguese companies fell nearly 34 percent in 2015, or 1 billion euros, which meant that the Angolan market fell from fourth to sixth place in the ranking of biggest export destinations, Portuguese daily newspaper Público reported, citing data from the National Statistics Institute (INE). INE data showed that sales to Angola saw a contraction of 1.074 million euros (-33.8 percent) between 2014 and 2015, because of the crisis in the African country due to the low price of oil, on which it depends for its revenue.

Australian company discovers largest ever diamond in Angola

16 February 2016

Australia's Lucapa Diamond Company has discovered a 404-carat diamond (80.8 grams) in Angola, the largest ever found in the country and the 27th globally, the company said in a statement released Monday.

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