Angolahub

Stagnation of the construction market in Angola and Portugal leads to redundancies

6 January 2016

The stagnation of the construction market in Angola and in Portugal is the basis of collective dismissal of 500 workers at construction company Soares da Costa, according to a document signed by the CEO of the company. In this document, cited by Portuguese news agency Lusa, Joaquim Tapes noted the "negative impact" on the company of the crisis and the "stagnation of the construction market" in Portugal and Angola, its main market, a situation that makes "downsizing and restructuring of the company inevitable."

Trade between China and Portuguese-speaking countries shrinks 25 pct from January to November

6 January 2016

Trade between China and Portuguese-speaking countries experienced a real contraction of US$31.674 billion from January to November 2015 compared to the same period of 2014, according to official figur…

Angola’s currency falls against the US dollar

5 January 2016

The decision of the National Bank of Angola to allow the kwanza to depreciate took the Angolan currency to a record low of 158.73 kwanzas per dollar on Monday, according to financial news agency Bloomberg.

Fuel prices rise in Angola and fall in Cabo Verde

5 January 2016

The introduction of the free price system in the sale of fuels in Angola has made the price of a litre of gasoline rise by 39 percent from 115 to 160 kwanzas and diesel by 80 percent from 75 to 135 kwanzas, according to a statement from state oil and gas company Sonangol. The Ministry of Finance said the introduction of free pricing for most fuel was intended to eliminate the high cost of fuel subsidies provided by the state.

Unitel offers 140 million euros for 10 pct of Banco de Fomento Angola

4 January 2016

Angolan company Unitel has offered 140 million euros for 10 pecent of Banco de Fomento Angola (BFA), of which it has already owned 49.9 percent since 2008, according to a communication to the market published Sunday in Lisbon.

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