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Portugal

Macau gov’t grants subsidies to companies affected by typhoon Hato

31 August 2017
Micro, small and medium sized businesses affected by typhoon Hato in Macau have already begun to receive a subsidy of 50,000 patacas (US$6,250) to help them resume activity as quickly as possible, the Macau Economic Services Department (MES) indicated.

Financing of new Mozambican railway complete by June 2018

31 August 2017
Assembly of the financial envelope for the Moatize/Macuse railroad line project is expected to be complete in the first half of 2018, whereby the construction work should begin immediately, said Thai Moçambique Logística (TML) managing director Mamed Latif.

China Three Gorges group pondering investments in Africa with associate Energias de Portugal

30 August 2017
The China Three Gorges (CTG) group plans to expand international investments together with EDP-Energias de Portugal, and Portuguese-speaking African countries may benefit if business opportunities are detected, the group’s vice-president said.

Concession company expands Moatize/Macuse railway line in Mozambique

29 August 2017
The future railway line between Moatize and Macuse in central Mozambique’s Tete and Zambézia provinces will be 120 km longer than originally planned, following a proposal from mining companies, said the head of Thai Moçambique Logística, the company awarded the concession for the infrastructure.

Mozambique’s Maputo International Fair begins with 26 countries participating

28 August 2017
The 53rd Maputo International Fair (FACIM), Mozambique’s biggest business fair, runs from today until 3 September, counting the participation of 1,940 national companies, 540 foreign ones and 26 countries, with Belarus attending for the first time, reports the Mozambican press.

Debt of the non-financial sector rises in Portugal to 726 billion euros

25 August 2017
Portugal's non-financial sector had debt of 726 billion euros at the end of the first half of the year, of which 317.7 billion euros was from the public sector and 408.3 billion euros from the private sector, the Bank of Portugal reported in in a statement in Lisbon.

Construction of the Commercial Cooperation Services Complex between China and Portuguese-speaking Countries begins this year

23 August 2017
Nine proposals were approved in the public tender for the contract to design and build the Service Complex for Commercial Cooperation between China and Portuguese-speaking Countries, according to the Land, Public Works and Transport Bureau.

Chinese group HNA expands business by buying shares in duty-free stores

22 August 2017
Chinese group HNA has acquired 16.2% of the Dufry group, raising its stake in the Basel-based group to 20.92%, which operates more than 2,200 duty-free and duty-paid stores in airports, ports, cruise ships, train stations and tourist areas, the Swiss group said on Monday.

Cabo Verde government pays arrears with the banking sector

22 August 2017
The Cape Verdean government is working to restore confidence, especially in the country's banking system, Finance Minister Olavo Correia said on Monday after signing a contract with the Caixa Economica de Cabo Verde bank for payment of arrears.

Cabo Verde Government continues to pay arrears

18 August 2017
The Government of Cabo Verde (Cape Verde) is continuing to pay off State debts with the signing on Friday in Praia of an agreement with the Caixa Económica de Cabo Verde bank that establishes the forms and conditions of payment of interest subsidies and of other debts, according to an official statement.

FACIM 2017 expected to have fewer companies and countries

14 August 2017
The number of companies already registered for the 53rd edition of the Maputo International Fair is low two weeks before the start of Mozambique's main trade fair, Mozambican weekly newspaper Domingo reported on Sunday.

Cabo Verde’s economy needs more credit and lower interest rates

14 August 2017
Cabo Verde (Cape Verde) needs "more credit for the economy and lower interest rates," said the country's Finance Minister, who acknowledged that the current situation does not facilitate the country's development, according to the local press.

Macau’s Banco Nacional Ultramarino closes first half-year with US$40 million profit

10 August 2017
Banco Nacional Ultramarino de Macau closed the first half-year with a profit of 320.9 million patacas (US$40 million), indicates the balance sheet published in the territory’s official gazette.

Cabo Verdean government settles debts with commercial banks

10 August 2017
The government of Cabo Verde has reached agreement to settle debts amounting to 21.7 million euros with Banco Comercial do Atlântico (BCA) of the Portuguese state financial group Caixa Geral de Depósitos, under an agreement signed on Wednesday in Praia.

Cabo Verdean government cancels international tender for ports concession

9 August 2017
The government of Cabo Verde has cancelled the international tender for sub-concession of the island country’s main ports, after only a single partial proposal was submitted by the French Bolloré group, indicates an official statement released on Tuesday in Praia.

Efacec company built first of seven transformers for Angola’s Laúca dam

8 August 2017
The first of seven transformers for the Laúca hydroelectric station in Angola’s Malanje province, which began operating last Friday, was built and installed by the Portuguese company Efacec, indicates a statement sent to the Macauhub agency.

Angolan ports receive less cargo in the 1st quarter

8 August 2017
Angola’s ports recorded the entry of 1.5 million tons of various products in the first quarter of the year, down 82,100 tons or 5.13 percent year-on-year, indicate figures from the National Shippers Council.

Maputo International Fair 2017 has more than 580 companies from Mozambique

3 August 2017
More than 580 companies from Mozambique have confirmed participation in the 53rd edition of the Maputo International Fair, FACIM, which will take place from 28 August to 3 September in Marracuene, in the southern province of Maputo, the event's director said on Wednesday in Maputo.

Portugal’s Novo Banco sells 90% of Banco Internacional de Cabo Verde

3 August 2017
Novo Banco, the bank that inherited the quality assets of bankrupt Banco Espírito Santo, has sold 90% of Banco Internacional de Cabo Verde's (BICV) share capital to IIBG Holdings, a company incorporated in Bahrain, the bank said in a statement filed with the market regulator.

Bank of Mozambique concludes intervention at Moza bank

2 August 2017
The Bank of Mozambique concluded its intervention at Moza bank, saying in a statement issued in Maputo that after the capitalisation and normalisation of the bank's financial situation the reasons that dictated the intervention were no longer an issue.
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