China sells trains to Rio de Janeiro, Brazil

The trains were obtained from the state-owned China CNR Corporation Limited and comprise four trains with four carriages each. Each train can carry 1,200 passengers. The new trains are equipped with

Intervention process completed for failed bank in São Tomé and Príncipe

The Central Bank of São Tomé and Príncipe has declared that the intervention process involving Island Bank, a failed private bank sold to Energy Bank, has been completed, the head

National Bank intervenes in BES Angola

José de Lima Massano specified that the central bank will continue providing necessary support to safeguard depositors’ interests, announcing a package of extraordinary measures for BESA’s recovery. At stake is “degradation

Angola | Resurgent textile industry helps diversify economy

The Economist Intelligence Unit specifically indicates that the refurbished and modernized África Têxtil, Textang II and Satec factories are “a positive step to diversify the Angolan economy,” even though those

ANGOLA | Minister urges US entrepreneurs to invest in transportation network

The Angolan Minister of Transportation urged American investors in Chicago to invest in rail transportation, heavy logistics and the maritime/port sector in Angola, the Angop news agency reports. “We still have

Trade between China and Lusophone countries reaches USD64.6b in first half-year

year, indicate official Chinese figures released yesterday in Macau. The figure for the first half-year includes USD20.463 billion (+2.25 percent) of Chinese exports to the eight Portuguese language countries and imports

Banco Espirito Santo may lose control in Angola

“If BES decides not to accompany the increase, either entirely or partly, it may no longer have a controlling stake and/or it will be diluted to a stake that will

Non-oil GDP in East Timor rises 7.8 percent in 2012

Non-oil Gross Domestic Product (GDP) in East Timor (Timor Leste) rose 7.8 percent in 2012, the spokesman for the Timor government and Minister of State and for the Presidency of

Embraer increases aircraft sales

Brazilian aeronautical company Embraer delivered 29 executive jets in the second quarter of the year, or 7 more airplanes than in the same period of 2013, which allowed the company

Unitel-STP launches telecommunications services in Sao Tome

Unitel-STP, a subsidiary of Angolan mobile phone operator Unitel, Tuesday launched its commercial telecommunications services in Sao Tome and Principe the company’s managing director, Manuel Lemos said. The announcement was made

Mozambique seeks funding for cashew production

Filomena Maiopué, director of INCAJU said that a 10-hectare plot had been selected to plant cashew trees, Vietnam, the project’s partner, had provided the necessary know how, but funding had

MOZAMBIQUE | Japanese business mission studies investment opportunities

A business mission from Japan headed up by the country’s deputy Foreign affairs Minister, Norio Mitsuya started a two-day visit to Mozambique to study investment opportunities and meet with Mozambican

TAP due to start flying to Guinea Bissau again in October

Flights between the Portuguese capital and Guinea Bissau operated by TAP will start again on 26 October, the chief executive of the Portuguese airline, Fernando Pinto said Monday in Lisbon. Pinto

Mozambique receives funding of USD32b for infrastructure

Mozambique is one of three of the main foreign investment destinations in Africa and over the next few years is expected to be home to infrastructure projects worth an estimated

Portugal is biggest foreign investor

Portugal topped the list of foreign investors in Mozambique in the first half of the year, with a total of US$248.8 million, accounting for 40.1 percent of investments approved by

10TH CPLP SUMMIT | Lusophone countries plan to study joint oil production

The group will study joint exploration and production of oil and gas in the CPLP area and set up a consortium for onshore oil exploration in Timor-Leste, open to companies

China certifies 31 Portuguese dairy product companies

China has certified 31 Portuguese dairy product companies, which can now start exporting to the Chinese market, said the Portuguese deputy prime minister, Paulo Portas in Angra do Heroísmo after

Cape Verde wants to boost bilateral ties with Angola

“Given Angola’s high potential it is important to establish partnerships to boost the two-way relations in a variety of sectors,” said the Cape Verdean minister at the opening session of

Belarus plans to assemble tractors in Mozambique

Belarus plans to set up a partnership with Mozambican businesspeople to assemble agricultural tractors in the East African country using parts manufactured in Belarus, which was recently visited by Mozambique’s

Angola raises USD2 billion for national reconstruction

The statement issued Tuesday said that the government hired Banco Angolano de Investimentos (BAI) and Banco de Fomento Angola (BFA) as “financial consultants” to “structure, set up and intermediate” this

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