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Macao magazine

Banks from Macau and Portuguese-speaking countries should cooperate further

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The potential for cooperation between banks in Macau and Portuguese-speaking countries is “huge,” Ip Sio Kai, president of the Macau Association of Banks and deputy manager of the Macau branch of the Bank of China told English-language newspaper Business Daily.

Ip Sio Kai pointed out that this potential stems from growing investments China is making in the Portuguese-speaking countries and mentioned that More

Macau Marathon 2015

Mining company Vale Moçambique records accident in the port of Nacala-a-Velha

The fall of one of two coal stackers, currently in the final stages of assembly at the port of Nacala-a-Velha, in northern Mozambique, which took place last week, is the subject of an investigation, Brazilian group Vale said.

The group also said in a statement that the incident, which caused no personal injuries, was being examined by the company responsible for supplying More

Kenmare Resources increases export of minerals extracted in Mozambique

The production at a heavy sands project in Moma in northern Mozambique, recorded a 3.0 percent increase in the first half of the year, Irish company Kenmare Resources said Monday in a statement.

The company said that production in the first six months of the year at its operation in Mozambique was undermined by failures in the electricity supply system, which totalled More

Indian consortium plans to increase coal mining in Mozambique

Indian state consortium International Coal Venture Private Ltd (ICVL) wants to increase coal mining in Mozambique from 3.5 million tons/year to 13 million tons/year in the next five years, a consortium official said Monday in Maputo.

The director of ICVL, Nirmal Chandra Jha, cited by the Reuters news agency, said he was aware that the logistical structure of Mozambique did not allow More

Portuguese company chooses Angola as location to build a factory

Portuguese company Mendes Gonçalves has chosen Angola to begin its internationalisation process and has invested 3 million euros in the Viana industrial area to build a factory for the production of sauces, the company said in a statement.

According to the statement, the company that owns the Paladin sauces brand founded in 1982, chose the Viana industrial area on the outskirts of More

Portugal-Angola Chamber of Commerce applauds new private investment law in Angola

The new Private Investment Law, approved this week by the Angolan parliament, will make the process “friendlier” for companies, said Paulo Varela, chairman of the Portugal-Angola Chamber of Commerce and Industry (CCIPA).

“Angola needs investment in the productive sector, which requires legislative stability, as well as a stable fiscal framework that is as simple as possible,” said Paulo Varela, questioned by Portuguese More

Guinea-Bissau resumes process of privatization of public enterprises

The government of Guinea-Bissau will re-launch the process of privatisation of public companies that are abandoned and in an advanced state of disrepair, as is the case of beer and soft drinks maker Companhia Industrial de Cervejas e Refrigerantes (CICER) the Prime Minister said recently.

Domingos Simões Pereira, who was speaking during a visit to the Water and Electricity Company of Guinea-Bissau More

Timor-Leste needs to diversify economy and increase productivity

The economy of Timor-Leste (East Timor) needs a “strong” private sector to diversify and improve its productivity, while improving living conditions in rural areas, according to a report by the Asian Development Bank (ADB).

The report – “Growing the non-oil economy: an assessment of the private sector in Timor-Leste” – examines the progress already made in the economic development of the country, More