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Portugal

Portuguese bank sells the stake in Mozambican bank

3 September 2018
Montepio Holding, a subsidiary of Portugal's Caixa Económica Montepio Geral (CEMG), has agreed to sell the stake in Banco Terra de Moçambique to financial firm Arise, under a plan for the strategic redefinition of its international holdings, the company said.

Galp to invest US$150 million in the expansion of its service station network in Mozambique

31 August 2018
Portuguese oil company Galp Energia announced that it plans to double its presence in the Mozambique market in four years through an investment of US$150 million, the Portuguese press reported.

Capital Airlines suspends flights between China and Portugal in October

23 August 2018
China's Capital Airlines announced that it has suspended its direct flight between China and Portugal between 15 October and March 2019.

Government of Angola limits logging

23 August 2018
The maximum amount of charcoal licensed for the 2018 Angolan Forestry Campaign will be 34,250 tons in the natural forest and 7,500 tons in the planted forest, according to an order published by Portuguese news agency Lusa agency and cited by the Angolan press.

Chinese groups invest over US$5.7 billion in the Portuguese stock market

22 August 2018
Chinese investors have acquired over €5 billion's (US$5.76 billion) worth of shares in listed companies in Portugal, making them the largest group of foreign investors in the Portuguese stock exchange, Portuguese online newspaper Dinheiro Vivo reported.

Cabo Verde receives 383,000 tourists from January to June 2018

14 August 2018
Cabo Verde's (Cape Verde's) hotel establishments received 383,500 guests from January to June 2018, with more than 2.2 million overnight stays, an increase of 10% over those booked in the same period of 2017, according to the National Statistics Institute.

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.
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