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Construction of Logistics Base at Port of Pemba, Mozambique, starts Wednesday

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The first phase of construction of the Logistics Base of the Port of Pemba, in Mozambique’s Cabo Delgado province, is due to begin Wednesday today with a ceremony to lay the first stone, state oil and gas company ENH said in a statement cited by Mozambican daily newspaper Notícias.

The work, which will be carried out by “ENH Integrated Logistics Services” (ENHILS), More

Portuguese group plants 125,000 hectares of eucalyptus in Mozambique

A project by Portucel Mozambique, a subsidiary of Portuguese pulp and paper group Portucel Soporcel, is considering planting 125,000 hectares of eucalyptus Mozambique’s Manica province with a view to supplying the paper industry, Mozambican daily newspaper Notícias reported.

The newspaper added, according to information released by Portucel, that the largest eucalyptus plantation included in the project will be in the district of More

Standard & Poor’s lowers projection for growth of Angola’s economy

Standard & Poor’s lowered its growth forecast for Angola from 8 percent to 4.5 percent this year with a “stable” outlook, according to the latest report on the country.

The S&P analysts explained the downward review of growth domestic product (GDP) growth with the slowdown in oil production, according to the document cited by Portuguese news agency Lusa.

In the report, which keeps More

Angola to have domestic tourism programme starting in 2015

Angola’s Minister for Hotels and Tourism, Pedro Mutindi, Tuesday in Luanda announced the creation of a social and domestic tourism programme due to be in place by 2015.

The minister, who had just signed a memorandum of understanding for the programme along with the Director-General of the United Nations Development Programme (UNDP) in Angola, Samuel Harbor, said that the programme would coordinate More

Guinea Bissau is world’s fourth-largest producer of cashew nuts

The president of the National Cashew Agency (ANCA) in Guinea Bissau, Henrique Mendes, said the country is the fourth-largest producer of cashew nuts after India, Ivory Coast and Vietnam.

Speaking to Portuguese news agency Lusa, Henrique Mendes also said that annual production of cashews in Guinea Bissau was about 220.000 tons, of which between 60,000 and 70,000 are illegally sold through Senegal More

Portugal’s budget deficit of Portugal will be 4 pct of GDP in 2014, Fitch says

Portugal will be able to reduce its budget deficit to 4 percent of gross domestic product (GDP) in 2014, Fitch Ratings said in a statement issued Tuesday in London.

This reduction – compared with a deficit of 4.5 percent in 2013 – will be partly driven by a provisional cut to civil service salaries deemed constitutional by the Constitutional Court, the agency More

Portugal’s trade deficit totals €4.1 billion from January to May

The trade deficit in Portugal stood at €4.1 billion in the period from January to May, a real increase of 700 million euros compared to the deficit posted in the same period of 2013, according to figures issued by Eurostat.

The trade deficit in the first five months of the year is explained by both a drop in exports and an increase More

Macau banking system has US$127 billion in international assets

International assets in the banking sector totalled to 1,018 billion patacas (US$127 billion) at the end of June, a quarterly increase of 9.5 percent and 32.9 percent against the same period of last year, the Macau Monetary Authority (AMCM) said.

The banking sector’s international liabilities totalled 968 billion patacas (US$121 billion) in the period, or an increase of 10.1 percent since March More