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Macao magazine

Angolan government increases public spending in 2nd half


Angola will increase public spending in the second half of 2015 after cuts included in the amending State Budget (OGE) due to a drop in oil prices, the country’s president said Thursday in Luanda.

According to José Eduardo dos Santos, who was speaking in Luanda at the opening of the third extraordinary meeting of the Central Committee of his ruling MPLA party, More

Commercial bank deposits at Angolan central bank increase to 25 pct

Angolan commercial banks have been required, since Wednesday, to set aside national currency reserves at the National Bank of Angola (BNA) equivalent to 25 percent of customer deposits, said Thursday in Luanda the governor of the central bank.

The ratio of required reserves in national currency since 2014 had been set at 12.5 percent, and on 1 January the BNA increased the More

Angola applies 10 pct charge to bank transfers abroad

The government of Angola will apply a 10 percent charge known as a Special Contribution to the transfer of foreign currency abroad to services contracts for foreign technical assistance or management services, according to a recently approved decree.

The preamble of the presidential legislative decree justifies the measure based on the drop in oil prices on the international market, which caused a More

Angola and Germany meet in economic forum

The 6th edition of the German/Angolan Economic Forum, on 21 and 22 July in Luanda, will be held at the same time as the Luanda International Fair (Filda) at which, this year, Germany has “special guest” status, said a German official.

In a statement cited by Angolan newspaper Expansão, the delegate of the German Economy in Angola, Ricardo Gerigk, said “the forum More

Jiangsu, China, wants to deepen cooperation with Cunene, Angola

The province of Jiangsu, China, intends to carry out several projects for agricultural cooperation with the province of Cunene, Angola, announced Thursday in Ondjiva, the deputy secretary of the municipal government of Nanjing, Yang Xiaoyang.

The deputy secretary, who was speaking during a meeting with provincial government officials from Cunene, said willingness to cooperate was part of the twinning project between the More

Chinese Xiaomi phones on sale in Brazil

The Chinese manufacturer of Xiaomi mobile phones is due to start selling the devices in Brazil on 7 July after the official presentation of the Redmi 2 phone, as a session in São Paulo, the Brazilian press reported.

Brazil is the first country outside China where Xiaomi is present and will also be the first country to have a factory outside of More

Portuguese trade and investment agency opens delegation in Guinea-Bissau

The delegation in Bissau of the Portuguese Agency for Investment and Foreign Trade (AICEP) will open Saturday as part of a visit by the agency’s President to Guinea-Bissau, AICEP said in a statement issued in Lisbon.

In the statement, the President of AICEP, Miguel Frasquilho, said the contacts he would make during his four-day visit “will be very relevant in relation to More

European Union will support Guinea-Bissau in controlling borders

The European Union (EU) will support the Government of Guinea-Bissau in the control of land and sea borders, the country’s Interior Minister, Octavio Alves said Wednesday in Bissau.

The minister also told the Portuguese News Network that the support would be provided under the European Union Borders project, which should start in 2016, adding, “until then we will create conditions for greater More