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Portugal

Banco Nacional Ultramarino posts profit of 310.8 million patacas in the 1st half

9 August 2018
Macau's Banco Nacional Ultramarino (BNU) posted a profit of 310.8 million patacas (33.13 million euros) in the first half of 2018, down 3.15% from the amount recorded in the same period of 2017, according to official information.

Angola’s General Tax Administration guarantees introduction of VAT in 2019

1 August 2018
Value Added Tax (IVA) will replace the Consumer Tax in Angola in 2019, the coordinator of the Technical Group for the Implementation of IVA, Adilson Sequeira, said according to a report published on the website of the Angolan Ministry of Finance.

China’s cooperation with Portuguese-speaking countries important in Chinese foreign relations

31 July 2018
Cooperation between China and Portuguese-speaking countries is an integral and important part of China's foreign relations, said the Commissioner of the Chinese Foreign Ministry in Macau on a visit to Forum Macau.

CGD puts one of the two banks it controls in Cabo Verde up for sale

30 July 2018
Portuguese state-owned bank Caixa Geral de Depósitos (CGD) will sell one of its two banks in Cabo Verde (Cape Verde), and it has yet to decide whether it will be Banco Comercial do Atlântico or Banco Interatlântico, the chairman of the bank said on Friday in Lisbon.

BNU Macau was the largest contributor to CGD’s results in the first half

30 July 2018
Banco Nacional Ultramarino (BNU) Macau was the largest contributor in the international business area to the consolidated net income of Portuguese state bank Caixa Geral de Depósitos (CGD) in the first half of the year, providing 30.5 million euros, according to an unaudited report released on Friday in Lisbon.

Beijing Capital Airlines transports more than 80,000 people between Beijing and Lisbon

27 July 2018
The thrice-weekly direct air connection between Beijing and Lisbon transported more than 80,000 passengers during its first year of operation, marked on Thursday, Beijing Capital Airlines announced.

Portugal’s state-owned CGD bank to reduce presence in Mozambique and Cabo Verde

27 July 2018
The Portuguese state-owned bank Caixa Geral de Depósitos (CGD) will have to reduce its presence in Cabo Verde and Mozambique by the end of 2020, under the institution’s revised 2017-2020 strategy plan authorised by the European Commission, the Finance Ministry announced in a statement released on Thursday in Lisbon.

Portugal close to issuing debt in the Chinese market

24 July 2018
The process of Portugal issuing public debt in the Chinese market by means of Panda bonds or debt contracted by foreign entities in Chinese currency is in its final phase, Finance Minister Mário Centeno recently stated.

Arab Group IIB Holdings well positioned to buy a bank in Portugal

20 July 2018
The best-positioned candidate to buy Portuguese investment bank Efisa is IIB Group Holdings, a Bahrain company that recently completed the acquisition of a 90% interest in Banco Internacional de Cabo Verde from Novo Banco, the bank that resulted from the closure of Banco Espírito Santo, Portuguese financial daily Negócios reported.

Angola hosts 13th Summit of the Community of Portuguese Speaking Countries

19 July 2018
Angola hosts the 13th Summit of Heads of State and Government of the Community of Portuguese Speaking Countries (CPLP), to be held in 2020, following a decision made at this year's meeting on the island of Sal, Cabo Verde (Cape Verde), which elected Portuguese ambassador Francisco Ribeiro Teles as the institution's new executive secretary, according to the local press.

Entrepreneurs want CPLP to focus more attention on the economy

18 July 2018
Entrepreneurs want the subject of the economy to become a greater focus within the Community of Portuguese-Speaking Countries (CPLP) and allow them to take up room as economic leaders, the president of the CPLP Business Confederation (CE-CPLP) Jorge Carlos Fonseca, said during a hearing granted by the President of Cabo Verde.

6th Macau Ministerial Forum meeting postponed to 2020

16 July 2018
The sixth ministerial meeting of Forum Macau, which had been scheduled for 2019, will be delayed until 2020, according to diplomatic sources linked to the institution.

Food products from Portuguese-speaking countries showcased in Dongguan, China

13 July 2018
The Macau-Dongguan Economic and Trade Cooperation Forum and the Promotional Activity of Products from the Portuguese-speaking Countries - Dongguan were recently held in that city on the Pearl River Delta organised by the Macau Trade and Investment Promotion Institute (IPIM) and the Dongguan Trade Department, according to official information.

Portugal’s Novo Banco completes sale of controlling stake in Cabo Verde bank

12 July 2018
Portuguese bank Novo Banco has completed the process of selling a 90% stake in Banco Internacional de Cabo Verde to IIB Group Holdings, a company based in Bahrain, said on Wednesday the bank that inherited the quality assets of the bankrupt Banco Espírito Santo (BES) in a market filing.

Oitante concludes sale of Banif assets to Chinese group

11 July 2018
Portuguese company Oitante has completed the sale of the troubled assets of Banco Internacional do Funchal (Banif) to Chinese group Bison Capital Financial Holdings, which were not acquired by Spanish bank Santander Totta, the company said in a statement released on Tuesday in Lisbon.

Navigator Group restructures forestry investment project in Mozambique

10 July 2018
Portuguese group The Navigator Company will reformulate its investment project in Mozambique, which will be conducted in two phases under a memorandum of understanding signed on Monday with the Mozambican government, the group said in a statement to the market.

Commercial exploration of natural gas in Mozambique scheduled for 2024

10 July 2018
Mozambique Rovuma Venture presented the development plan for the first phase of the Rovuma LNG project, which will extract, liquefy and sell natural gas from the Mamba fields located in the Rovuma Area 4 block to the Mozambican government, Italian group ENI said in a statement issued in Milan on Monday.

Brazil absent from the 2018 Luanda International Fair

10 July 2018
Brazil is the main absentee of the 34th edition of the Luanda International Fair (Filda/2018), taking place on Tuesday, in the Luanda/Bengo Special Economic Zone, while Portugal, with 25 exhibitors, has the largest foreign contingent, the national director for the Economy, Competitiveness and Innovation of the Ministry of Economy and Planning said on Monday.

China’s President due to visit Portugal in December

9 July 2018
The President of the People's Republic of China Xi Jinping is due to visit Portugal in early December, a few weeks before the start of the Year of China in Portugal and the Year of Portugal in China in 2019, the Portuguese Minister for Culture said on Friday in Macau.

Mozambique-Portugal summit results in ten bilateral instruments

6 July 2018
Mozambique and Portugal signed an agreement in Maputo on Thursday to allow social security payments in one country to be recognised in the other for career purposes, which will allow the application of the bilateral agreement signed between the two countries in 2010, a document signed by the Secretary of State for Social Security, Cláudia Joaquim, and the Labour and Social Security Minister of Mozambique, Vitória Dias Diogo.
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