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Portugal

Mozambique attracts US$107 million in tourism investments in 2016

21 March 2017
Investments in the tourism sector in Mozambique reached US$107.8 million in 2016, a decrease of 44.1% over the amount recorded in 2015, said on Monday in Maputo the Minister of Culture and Tourism, Silva Dunduro. The minister, during a meeting to announce the Welcome Easter campaign aimed at tourists mostly from South Africa, said that last year Mozambique received 1.71 million tourists, an increase of 5% compared to 2015.

Chinese investment in Mozambique is close to US$6 billion

17 March 2017
China's investment in Mozambique has been growing at a very fast pace and in cumulative terms is approaching US$6 billion, according to figures from the Chinese Embassy in Maputo.

Portuguese-Chinese consortium builds railway and port in Mozambique

16 March 2017
A contract to build a railroad and a deepwater port in Mozambique has been awarded to a 50/50 consortium made up of Portuguese group Mota-Engil and China Civil Engineering Construction (CCEC), said the chief executive of the concession company.

Portuguese construction group hired to work in Angola

15 March 2017
Portuguese construction group MCA has been hired to carry out work to protect and stabilise the slopes of the Boavista and Sambizanga areas in Luanda, a project that will cost the Angolan state US$219 million, the group said in a statement on Tuesday. The contract, approved by an Angolan presidential decree of 1 March, is split into two phases, the first of which will build the protection and stabilise and build up the slopes of Boavista and Sambizanga, between the Miramar Cinema and Largo do Ambiente and between Avenida Kima Kienda and Rotunda da Boavista.

Portuguese group builds railroad in Mozambique

13 March 2017
Portuguese construction group Mota-Engil has been hired to build a railroad between Moatize (Tete province) and Macuse (Zambezia province) and the deep-water port of Macuse, announced the president of the Zambezi Integrated Development Corridor (Codiza) in statements to Radio Mozambique. Speaking in Quelimane, the capital of Zambezia province, Abdul Carimo said the international tender attracted six bids, and all that was left to do was sign the contract for the company to start work, "as the cost of the work was set at US$2.3 billion."

ExxonMobil pays US$2.8 billion for 25% of natural gas block in Mozambique

10 March 2017
US group ExxonMobil paid US$2.8 billion in cash to Italian group ENI for an indirect 25% stake in the Area 4 block of the Rovuma basin in northern Mozambique, under a contract signed on Thursday.

Trade between China and Portuguese-speaking countries rises 7.52% in January

10 March 2017
Trade between China and Portuguese-speaking countries totalled US$8.281 billion in January 2017, which was a year-on-year increase of 7.52%, according to official figures from China released by Forum Macau. Angola and Brazil accounted in January for 92% of trade between China and the eight Portuguese-speaking countries with a total of US$7.625 billion.

Chinese mission visits Brazilian institutions in the areas of trade promotion and environmental management

3 March 2017
About 50 representatives of Chinese provinces in the Pan Pearl River Delta, are due to arrive in Brasilia on Monday, 6 March, to meet with Brazilian government representatives in the areas of trade promotion, water management, environmental protection and sustainability.

Bank of Mozambique ensures smooth operation of Moza bank

3 March 2017
The capitalisation process of the Moza bank is progressing according to the schedule approved at the Mozambican bank's general meeting, and the bank is operating normally under the intervention of the Bank of Mozambique and leadership of an interim board, the Mozambican central bank said on Thursday. The statement from the Bank of Mozambique's said there was, "no sign of alarm about the present and future stability of Moza," and added that the stability of the financial system and strengthening confidence in the future of the bank are the main objectives of the capitalisation process.

Portugal’s GDP reaches 185 billion euros in 2016

3 March 2017
The gross domestic product of Portugal reached 185 billion euros in nominal terms in 2016, registering an annual growth of 1.4%, down 20 basis points on the growth rate recorded in 2015, of 1.6%, according to the National Statistics Institute (INE).

Italian group ENI concludes sale of stake in oil block in Mozambique

2 March 2017
The ENI group will in the coming weeks sign a contract to sell a stake in the Area 4 block of the Rovuma basin in northern Mozambique, CEO Claudio Descalzi, told the Financial Times. Descalzi did not identify the buyer of the stake expected to cost a few billion dollars but US group ExxonMobil is considered the most likely candidate as it already has oil exploration licenses in Mozambique.

Pan Pearl River Delta representatives visit Brazil and Portugal

2 March 2017
Representatives of provinces and regions "9 + 2" of the Pan Pearl River Delta will visit Brazil and Portugal from 5 to 12 March focused on research and exchange of information on environmental protection and management of marine waters, a spokesman said in Macau on Thursday. The visit to Brazil and Portugal is part of the strengthening of the role of Macau as a platform between China and Portuguese-speaking countries and was organised as a way to implement the various measures announced in October 2016 by Prime Minister Li Keqiang.

Forum Macau meets in Beijing with ambassadors of the Portuguese-speaking countries

2 March 2017
The ambassadors of Angola, Brazil, Cabo Verde (Cape Verde), Guinea-Bissau, Mozambique, Portugal and Timor-Leste (East Timor) in China expressed the appreciation of their respective governments for the results achieved in economic and trade cooperation between China and the Portuguese-speaking countries, according to official information published in Macau.

EDPR sells wind assets in Portugal to China Three Gorges Group

1 March 2017
EDP ​​Renováveis ​​(EDPR) sold to ACE Fund SPV a 49% stake in the capital and inputs related to a portfolio of wind assets located in Portugal for a total price of 242 million euros, the company said in a statement to the market.

Portugal to receive 200 more tons of bananas produced in Angola

28 February 2017
More than 200 tons of bananas produced in the Caxito irrigated perimeter will be exported to Portugal following an initial shipment of 27 tons, the head of Caxito Rega announced, cited by the newspaper Jornal de Angola. João Mpilamosi said that bananas produced at that plantation “have quality and are accepted in foreign markets, mainly in countries neighbouring Angola”.

Portugal’s non-financial sector ends 2016 with debt of 715.8 billion euros

24 February 2017
The non-financial sector in Portugal was 715.8 billion euros in debt at the end of 2016, of which 308.4 billion were attributed to the public sector and 407.5 billion to the private sector, the Bank of Portugal said in a statement.

China is largest foreign market for Portuguese beer maker Unicer in 2016

22 February 2017
China replaced Angola as the main export market for Portuguese beer making company Unicer Bebidas de Portugal in 2016, said the CEO of the company speaking to Portuguese newspaper Público. After in 2014 Unicer exported products worth 60 million euros to Angola, the market fell to a "residual value" in 2016, the year China ranked first in the list of the company's sales abroad. After in…

Bank of Portugal negotiates sale of Novo Banco with Lone Star Funds

21 February 2017
The Bank of Portugal has chosen US company Lone Star Funds on an exclusive basis for the final phase of the negotiations to define the terms of sale of the Resolution Fund's stake in Novo Banco, the central bank said in a statement. In the running to buy Novo Banco, the bank that inherited the quality assets of the bankrupt Banco Espírito Santo (BES), was the Apollo/Centerbridge consortium, after finance company China Minsheng failed to provide the guarantees that were required by the Bank of Portugal.

Portugal negotiates with Angola strengthening of a credit line to 1.5 billion euros

20 February 2017
Portugal is negotiating with Angola to increase the amount of a credit line to 1.5 billion euros, said the president of credit insurance company Companhia de Seguros de Crédito (Cosec) in a joint interview with radio station Antena 1 and financial newspaper Jornal de Negócios. Miguel Gomes da Costa stressed that the credit line was unused, given that Angola had more interesting financing alternatives than those offered by Portuguese banks.

Macau plans to build Services Complex for Trade Cooperation between China and Portuguese-speaking Countries

17 February 2017
Twelve companies have submitted proposals to the public tender for design and construction of the Services Complex for Trade Cooperation between China and Portuguese-speaking Countries, said the Macau Lands, Public Works and Transport Bureau. The future Services Complex will be located in central area of the Macau peninsula an area of ​​about 14,200 m2, and the construction work is likely to start in the third quarter of 2017 and have a maximum deadline of 20 months.
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