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Mozambique signs new contracts for oil exploration in 2015

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New contracts on concession areas for exploration and oil production in Mozambique will be signed after April 2015, the Resource Valuation Director of the National Oil Institute (INP) said Thursday.

On the sidelines of the launch, in both Maputo and London, of a tender to award 15 blocks for oil exploration and production, José Branquinho said April 2015 was when he expected More

ADB donates US$59 million to Mozambique budget

The African Development Bank (ADB) will provide a donation of US$59 million to Mozambique, with the first tranche of US$29 million earmarked for 2014 State Budget 2014, the local ADB representative said Thursday in Maputo.

Joseph Ribeiro said that the donation was part of the Economic Governance and Inclusive Growth PRogramme, that the Mozambican government agreed with the ADB and provided support More

Portucel Group negotiates sale of 20 pct of project in Mozambique

Portuguese group pulp and paper group Portucel Soporcel is negotiating with the International Finance Corporation (IFC), the World Bank group, to sell a 20 percent stake in a project in Mozambique, the group’s chairman said in Lisbon.

Diogo da Silveira noted that the partnership with IFC was a year old and added it could be enhanced with the World Bank subsidiary buying More

UNDP finances mini-hydro plants in Sao Tome and Principe

The United Nations Development Programme (UNDP) will provide US$6 million for the construction of a mini-hydroelectric plants to produce 5 megawatts of electricity on the island of Principe, the president of the regional government said Thursday.

José Cassandra made the announcement after receiving UNDP representative, Mozambique’s José Salema, on the island of Principe for a meeting as part of the programme to More

Angola conducts geological and mining survey

Angola’s National Geology Plan (Planageo) will produce credible processed and mapped information to manage and make use of mineral resources in the long term, the Angolan minister of Geology and Mining said Thursday in Luanda.

Minister Francisco Queiroz said that the information collected by Planageo would be available, in addition to state agencies, to potential investors, academics and other interested parties.

“Planageo is More

Angola imports US$1 billion a year in wine

Angola spends US$1billion every year on importing wine, as national production is still small, according to figures issued Thursday in Luanda, at the inauguration of the second edition of the festival of the Angolan wine sector.

The director of the Angola Wine Festival, Miguel Pinho,noted that the figure was a good representation of a “very large business” in the country, which shows More

Macau receives more than 23.5 million visitors from January to September

Macau received over 23.5 million visitors from January to September, or an increase of 7 percent year on year, the region’s Statistics and Census Bureau said.

The number of visitors from Mainland China (15.8 million), South Korea (420,400) and Japan (228,000) rose in annual terms, while visitors from Hong Kong (4.8 million) and Taiwan (726.9000) decreased in annual terms.

In September 2.4 million More

Portugal’s public debt reaches 224 billion euros in 2nd quarter

Portugal’s public debt stood at 129.4 percent of Gross Domestic Product (GDP) in the second quarter of 2014 or 224.129 billion euros, according to figures issued Thursday by Eurostat, based on the new European System of Accounts (ESA 2010).

In the second quarter Italy had the largest public debt by percentage of GDP (133.8 percent), which was followed Portugal, and Ireland with More