Portugal biggest foreign investor sin Mozambique in 2014

PORTUGAL-MOZAMBIQUE

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 the Centre for Investment Promotion (CPI), which totalled US$618.9 million.

Against the first quarter of the year, when Portugal was also the biggest foreign investor in the country, investment by Portuguese companies More

Russia and Mozambique discuss cooperation in coal and gas sectors

The prime ministers of Mozambique and Russia met Saturday in Moscow to discuss the possibility of cooperation in managing Mozambican natural resources, such as oil and gas, Mozambican news agency AIM reported Monday.

“Russia is one of the countries that has resources like Mozambique and, naturally, we have a lot to learn from this country and long-standing fried,” said Alberto Vaquina, cited More

Mozambique will have new business centre in Zambézia province

Mozambique’s Minister for Planning and Development, Aiuba Cuereneia, Saturday in Mocuba, Zambézia province, laid the first stone of the business centre of the Zambezi Valley Development Agency, Mozambican daily newspaper Notícias reported.

The business centre, which is due to be finished in the third quarter of 2015, is intended to support investors that want to operate in the two industrial and commercial More

Angolan stock exchange due to start operating in December

Angola’s Debt and Stock Bourse (BODIVA), under the supervision of the Capital Markets Commission, is due to start operating in December of this year according to the chairman of the Board of BODIVA, António Furtado.

According to Angolan state newspaper Jornal de Angola at a meeting with financial market operators Furtado said that the Bourse would initial operate with the Pubic Debt More

Angolan diamond sales rise 20 pct in June

The sale of Angolan diamonds in June totalled US$117 million , which was a rise of 20 percent against May, according to figures form Angola’s Geology and Mining Ministry.

The ministry said Angola sold “over 780,000 carats” or an additional 156,000 carats compared to May.

According to the ministry the rise in sales was the result of a 32 percent increase in diamond More

Angola wants to increase oil production in 2015

Angola plans to produce 1.630 million barrels of oil per day by the end of the year the country’s oil minister, Botelho de Vasconcelos said in Luanda cited by Angolan news agency Angop.

The minister said that as new oil fields started operating production would reach 2 million barrels of oil per day in 2015.

Angola’s oil exports fell by 9.6 percent between More

ESSO invests US$5.1 billion in oil exploration in Angola

US oil company ESSO Angola has invested around US$5.1 billion in setting up the second phase of its “Kizomba Satellite Project Two” (KSP2), initial production at which will be announced at the end of 2015.

The oil project, which will increase Angola’s oil production by over 100,00 barrels per day in 2’15, was set up to produce around 190 million barrels of More

IMF praises Macau government but warns of economy’s vulnerability

The International Monetary fund (IMF), in a 57-page report has praised the Macau Government for its prudent macroeconomic management framework, particularly the linked exchange rate between the Macau pataca (MOP) and the Hong Kong dollar (HKD), flexible markets, and safeguarding fiscal discipline and financial stability.

Despite supporting Macau’s “fiscal discipline,” the IMF advises a “strategy of diversifying asset allocations,” in terms of More