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Portugal

Angonabeiro plans to export Ginga coffee to the United States, China and African countries

20 October 2016
Angonabeiro, of the Portuguese Nabeiro group, which produces coffee in Angola, will start exporting coffee to the United States, China, Mozambique and Cabo Verde (Cape Verde), a company official said. The director of Angonabeiro, Jorge Ribeiro, said the Ginga coffee produced by the company is mainly exported to Portugal but the company's ongoing internationalisation plan will allow exports to other countries.

Portugal and Beijing are invited partners at the 21st edition of the Macau International Fair

19 October 2016
Portugal and Beijing are the first partner country and partner city of the Macau International Fair (MIF), according to the organisation, "adding lustre and allowing for more business opportunities during the event," whose 21st edition takes place from Thursday to Saturday.

Chinese group Fosun closer to being a shareholder of Portugal’s BCP bank

19 October 2016
Shareholders of Portuguese bank Banco Comercial Portuguese (BCP) are due to meet on 9 November at the General Meeting to deliberate and possibly adopt amendments that will open up the way for the entry of Chinese group Fosun Industrial Holdings Limited in the financial institution, according to a market statement. Shareholders will vote on the amendment or elimination of statutory limitations on voting rights, which is required due to an amendment to the legal framework of credit institutions and financial companies and which must be exercised by the end of the year.

Cabo Verde’s trade deficit cable widens 11.3% from January to September

19 October 2016
The trade deficit of Cabo Verde (Cape Verde) recorded an increase of 11.3% from January to September, to 43.548 billion escudos, against 39.138 billion escudos in the same period of 2015, according to the archipelago's National Statistics Institute (INE). INE also reported that the deficit was the result of national exports (not including re-exports) falling 2.1% to 4.426 billion escudos and imports in the same period increasing 9.9% to 47.974 billion escudos.

Hong Kong financial company interested in Portugal’s Novo Banco

14 October 2016
The China Minsheng Financial Holding Corporation Limited (CMFH) of Hong Kong has presented a non-binding offer for the purchase of a controlling stake in Portuguese bank Novo Banco, Portuguese newspaper Público reported. The newspaper also wrote that the Chinese company presents itself as a "cornerstone investor," which means it is applying for the purchase either a majority or minority stake, although it has to be a controlling stake, with the commitment of an Initial Public Offer (IPO) for the rest of the capital.

Macau International Fair in 2016 will have over 1,600 stands

14 October 2016
The 21st edition of the Macau International Fair (MIF), taking place from 20 to 22 October, will have the participation of over 50 countries and regions showcased at over 1,600 stands, said the fair's organising body, the Macau Institute for Trade and Investment Promotion (IPIM). Based on the theme of "Cooperation - The Key to Business Opportunities," this year's MIF will occupy an area of about 30,000 square metres, the main difference to previous editions being a new section called "Partner Countries and Cities."

Ministerial Conference of Forum Macau was one of the most productive ever

13 October 2016
The 5th Ministerial Conference of Forum Macau was one of the most productive ever, with the presentation of 18 measures for Portuguese-speaking countries and 19 others supporting the development of Macau, the Secretary for Economy and Finance said Wednesday.

Trade between China and Portuguese-speaking countries exceeds US$360 billion in three years

12 October 2016
The cumulative value of trade between China and the Portuguese-speaking countries exceeded US$360 billion between 2013 and 2015, China’s Deputy Minister of Commerce recalled on Wednesday at a meeting of businesspeople.

Direct flights between China and Portugal begin in June 2017

12 October 2016
The direct air link between China and Portugal is due to begin in June 2017 with three to four flights a week, according to the protocol signed between the Portuguese Tourism Agency (Turismo de Portugal) and the HNA group. HNA, a shareholder of the Azul airline controlled by businessman David Neeleman - one of the owners of Portuguese flagship airline TAP - obtained authorisation to launch a route to Portugal at the beginning of June this year.

Macau and Portugal sign tourism cooperation and food security protocols

12 October 2016
Macau and Portugal on Tuesday signed two cooperation agreements, one on food security and the second in the field of tourism, with the latter stipulating that companies that are already in Macau may also invest in Portugal, according to the local press. Quoting the Minister of Economy of Portugal, who signed both documents, the Tribuna de Macau newspaper, wrote that this second protocol is also intended to "encourage joint promotion at a time when there will be direct flights between Portugal and China, so there may be more Portuguese tourists visiting China and obviously Macau."

China provides Forum Macau countries in Africa and Asia with US$600 million

11 October 2016
China will grant at least 2 billion yuan (US$300 million) in preferential loans to Portuguese-speaking African and Asian countries that are members of Forum Macau, China's prime minister announced in Macau.

Portugal and China should promote triangular cooperation, Portuguese PM says

11 October 2016
Portugal and China must join "forces" to promote triangular cooperation with other Portuguese-speaking countries in sectors such as agriculture, infrastructure and education, the Prime Minister of Portugal proposed on Tuesday in Macau. António Costa spoke at the opening ceremony of the 5th Ministerial Conference of the Macau Forum for Economic and Trade Cooperation between China and the Portuguese-Speaking Countries, whose inaugural session speech was given by Chinese Prime Minister Li Keqiang.

Forum Macau has had remarkable results, China’s Trade Minister says

11 October 2016
The Forum for Economic and Trade Cooperation between China and the Portuguese-speaking Countries (Macau) has achieved remarkable results, said China's Commerce Minister, Gao Hucheng, in a speech on Monday in Macau. Addressing the members of the delegations that since Tuesday have been taking part in the 5th Ministerial Conference of Forum Macau, the minister recalled that since 2003 the Forum had made it possible to set up various forms of cooperation as well as mutual understanding between China and the Portuguese-speaking countries.

Delegation of Guinea-Bissau is first to arrive in Macau

10 October 2016
The delegation of Guinea-Bissau, headed by Prime Minister Baciro Dja, was the first to arrive in Macau, on 7 October, in order to attend the 5th Ministerial Conference of Forum Macau, said the Government Information Bureau (GCS). Four delegations arrived in Macau on Sunday - Brazil, headed by the Minister of Industry, Trade and Services, Marcos Pereira, Cabo Verde (Cape Verde), led by Prime Minister Jose Ulisses Correia e Silva, Mozambique, headed by Prime Minister Carlos Agostinho do Rosario and Timor-Leste (East Timor), led by the Minister of State, Coordinator of Economic Affairs and Minister of Agriculture and Fisheries, Estanislau Aleixo da Silva.

Portuguese PM asks for greenfield investments from China

10 October 2016
The Prime Minister of Portugal used an audience with the President of China, Xi Jinping, on Saturday in Beijing, to request more Chinese investment, including greenfield investments, according to international agencies. António Costa, who is due to arrive in Macau on Monday to attend the 5th Ministerial Conference of Forum Macau, said that one of the objectives of his official visit to China was to target Chinese investments aimed at the acquisition of assets for new industrial areas and ports in Portugal.

Macau Forum calls for private partnerships to strengthen China’s relations with Portuguese-speaking countries

6 October 2016
The secretary-general of the Macau Forum, Xu Yingzhen said on Wednesday she hoped that the future development of cooperation between China and Portuguese-speaking countries would involve strengthening private partnerships in all economic and financial sectors.

Five prime ministers to attend the opening of the 5th Ministerial Conference of the Forum in Macau

5 October 2016
China's Prime Minister Li Keqiang, will preside over the opening of the 5th Ministerial Conference of the Forum for Economic and Trade Cooperation between China and Portuguese-Speaking Countries to be held on 11 and 12 of October in Macau, the Xinhua news agency reported on Monday.

Bank of Mozambique puts Moza bank under administration

5 October 2016
Moza (formerly Moza Banco) was put under administration by the Mozambican central bank to secure the interests of depositors, taking into account the bank's solvency ratio was below zero, said recently the director of the Bank of Mozambique, Joan Matsombe. The solvency ratio is the ratio of the assets of a company funded by equity and financed by borrowed capital, so the higher this indicator the better the company's financial stability and the lower the solvency ration the more vulnerable the company is.

BP Group signs contract to buy millions of tonnes of natural gas from Mozambique

5 October 2016
ENI East Africa, a subsidiary of Italian group ENI, has signed a binding agreement to sell liquefied natural gas to BP Poseidon, a subsidiary of the BP group, the group said in a statement issued on Tuesday in Milan. The binding agreement, also signed by the partners of the group in the Area 4 block of the Rovuma basin in northern Mozambique, Galp Energia of Portugal, South Korea's Kogas and the Mozambican state company ENH, is valid for 20 years.

Portugal is the most competitive country in the Portuguese-speaking world

29 September 2016
Portugal is the most competitive country among the four Portuguese-speaking nations included in the Global Competitiveness Report 2016/2017 prepared by the World Economic Forum. Portugal, which is in 46th place, but which fell six places in relation to the 2015/2016 list in the report on 2015/2016.
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