28 July 2016
Twenty-five executives and technicians from the traditional medicine sector in Brazil, Cabo Verde (Cape Verde), Guinea-Bissau, Mozambique, Portugal and Timor-Leste (East Timor) took part in a symposium in Macau organised by the Training Centre of the Forum for Economic and Trade Cooperation between China and Portuguese-speaking Countries (Macau), according to official information. The conference, which began on 18 July was held at the Guangdong-Macau Traditional Chinese Medicine Industry-park, whose facilities were visited on Wednesday by the executives and technicians in order to see current development.
21 July 2016
The creation of a deposit guarantee and other response mechanisms to crises in the banking sector on Monday in Praia brought together officials from the Bank of Cabo Verde (Cape Verde) and commercial banks operating in the archipelago, local media reported. At that meeting, the Cape Verdean central bank introduced the others to the basis for the draft Law on the Deposit Guarantee Fund, which is intended to boost the credibility of the banking system.
19 July 2016
The pace of economic growth in Cabo Verde (Cape Verde) continued to accelerate in the second quarter of 2016, having developed positively over the same of last year, reported the National Statistics Institute (INE) of the archipelago. Announcing the figures from the Monthly Economic Survey of Economic Agents for the second quarter, the INE also said that the economic climate is favourable.
18 July 2016
Cape Verdean public transport company Solatlantico will receive ten Volkbus 17.210 buses purchased in Brazil from MAN Latin America to add to the passenger transport network in Praia, the capital of the Cabo Verde (Cape Verde) archipelago. Henrique Duarte, managing partner of operator SolaAtlantico, told the Cape Verdean press that after an initial purchase of 16 Volkbus 9.150, "which have had an excellent performance," it was decided to acquire 10 units of the new model from the Brazilian company that manufactures MAN and Volkswagen commercial vehicles.
15 July 2016
The European Union (EU) will donate 18 million euros to Cabo Verde (Cape Verde) to support projects to combat unemployment, which affects about 16% of the workforce, 34% of them young people, announced the President of the Employment and Vocational Training Institute. Vargas Melo said that the amount in question is an expense included in the 11th European Development Fund (EDF) for the project to combat unemployment in African Countries with Portuguese as an Official Language (PALOP) and Timor-Leste (East Timor).
14 July 2016
Cabo Verde's (Cape Verde's) budget deficit this year is expected to be 5.2% of GDP, an increase of 1.5 percentage points compared to a previous forecast, the Minister of Finance said in parliament. Minister Olavo Correia, presenting the draft State Budget law for 2016 on Wednesday, which will be applied only in the last five months of the year, said that this is a budget with a tax margin of "almost zero."
14 July 2016
The Cabo Verde (Cape Verde) Chamber of Tourism will take on the role of exclusive promoter of the West African archipelago's tourism, a responsibility that so far had been shared with Cabo Verde Investimentos, said the re-elected president of the institution. Gualberto do Rosário said at the end of a meeting with Prime Minister Ulisses Correia e Silva the measure aims to "provide more effective tourism promotion of the archipelago."
7 July 2016
7 July 2016
The Meliá Salamansa, a five-star resort and hotel due to be built on the island of Sao Vicente in Cabo Verde (Cape Verde), is scheduled to open in 2018, according to an announcement from the Meliá Hotels International group. According to information released by the group, Meliá Salamansa, which will be built in the fishing village of the same name, northeast of the city of Mindelo, will be the fifth hotel the group has built in Cabo Verde, after the Meliá Dunas, Melia Tortuga, Meliá Llana and Meliá White Sands, offering a total of 3,140 beds.
6 July 2016
Portuguese group Mota-Engil has started construction of a school on the outskirts of Sao Tome, the capital of Sao Tome and Principe, funded by Taiwan and costing an estimated US$5 million. The new school, designed for secondary and pre-university education, is located in Lobata district, 12 kilometres from the capital Sao Tome, and the ceremony to lay the first stone took place Tuesday.
1 July 2016
The Gross Domestic Product (GDP) of Cabo Verde (Cape Verde) grew by 5.8 percent in the first quarter of 2016, an annual increase of 3.9 percentage points or a percentage change of 205 percent, according to the archipelago's National Statistics Institute (INE). The information contained in the Quarterly National Accounts showed that the increase in GDP growth rate, which rose from 1.9 percent in the first quarter of 2015 to 5.8 percent this year, was mainly due to growth recorded in Agriculture, Hotels and Restaurants, Public Administration and Taxes net of subsidies.
27 June 2016
The economy of Cabo Verde (Cape Verde) is expected to post maximum growth of 4.5 percent in 2016, according to the draft State Budget approved Thursday by the country's government, the Minister for the Presidency of the Council of Ministers said in Praia. "The government projects growth of between 3.5 and 4.5 percent based on an increase in foreign direct investment (FDI), of productivity and confidence of economic agents," said Fernando Elísio Freire, estimating that the rate of inflation will be between 0.2 and 1.2 percent.
24 June 2016
The island of Boa Vista, in Cabo Verde (Cape Verde), should have about 10,000 rooms for accommodation in 2022, an increase of over 300 percent compared to 2,438 existing rooms, according to official forecasts. Projections from the Tourism Development Corporation of the Islands of Boa Vista and Maio, cited by weekly newspaper A Semana, show that from 2,438 existing rooms, Boa Vista is expected to reach 3,908 rooms in 2017 and 5,739 in 2018, based on investments already started and the projects that will be launched in the near future.
13 June 2016
The Riu Hotels & Resorts group plans to build two 500-room hotels, one of them a five-star unit - on the island of Boa Vista, said the owner Carmen Riu, at the end of an audience with the Prime Minister of Cabo Verde. Riu told Prime Minister Ulisses Correia e Silva that the two projects are in preparation, although their opening is already scheduled for 2017 and 2018, according to weekly newspaper A Semana.
13 June 2016
A mission from the International Monetary Fund (IMF) is due to return in early autumn to Cabo Verde (Cape Verde) for regular annual consultations with the government of the archipelago, the IMF said in a statement issued at the end of last week. The mission, which Thursday concluded a three-day visit to Cabo Verde for the first contacts with the new government.
3 June 2016
2 June 2016
The European Union will provide Cabo Verde (Cape Verde) with 5 million euros to be invested in strengthening the country's institutions, the EU representative in Cabo Verde, José Manuel Pinto Teixeira, said recently. "We are completing the next budget support programme, which will be available after the summer in the initial amount of 50 million euros and will also have a new 5 million-euro package for institutional capacity building programmes," said the EU representative.
24 May 2016
Cabo Verde (Cape Verde) received 190,600 tourists in the first quarter of the year, which was an increase of 17.2 percent over the same period of 2015, the National Statistics Institute (INE) said in the Cape Verdean capital, Praia. The "Tourism Statistics - Guest Movement" report for the first quarter also said tourists who visited the archipelago accounted for 1.1 million overnight stays, an annual increase of 12.1 percent, with an average stay of 5.7 nights, down 5 percent compared to 2015.
19 May 2016
China "remains committed and available" to continue to cooperate with Cabo Verde (Cape Verde), China's Ambassador to Cabo Verde said Wednesday in Praia at the end of a meeting with the new prime minister, Ulisses Correia e Silva. "Our vision is to strengthen and further promote cooperation between the two countries in various sectors, and I believe that in the coming years we can develop many more projects," said Ambassador Du Xiaocong, quoted by news agency Inforpress.
17 May 2016
China plans to increase cooperation with the municipality of Sal, Cabo Verde (Cape Verde), particularly through tourism investments on the island, said Monday the Chinese ambassador to Cabo Verde, Du Xiaocong. The ambassador is on a two-day visit to Sal at the invitation of the outgoing Mayor, Jorge Figueiredo, according to Cape Verdean news agency Inforpress.