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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

Angola’s Unitel valued at US$7 billion

Angolan telecommunications company Unitel has been valued at 16 billion reals (US$7 billion) by Brazilian company Oi, which is merging with Portugal Telecom, Angolan weekly newspaper Expansão reported.

The newspaper cited a document included in Oi’s results presentation for the second quarter, which notes the asset will be sold and provides a value for the Angolan company.

Portugal Telecom (PT) owned 25 percent More

Diamond mining by Maua company due to begin in Angola in September

A diamond project by mining company Sociedade Mineira do Maua, of Angola’s Malanje province, is due to start operating in September, following an investment of US$26 million from Israel, said the project’s assistant director, Carlos Castro.

The project is located in Mundundo, 85 kilometres from the municipal capital of Marimba, and Sociedade Mineira do Maua, founded in 2009, is a partnership of More

Re-launch of production by Angola LNG consortium expected only in 2015

The Angola LNG consortium is only expected to start producing liquid natural gas (LNG) once again in 2015 after a stoppage in April of this year following an accident at the plant, the country’s Oil Minister said after a visit to the company’s facility in the city of Soy, Zaire province.

Botelho de Vasconcelos said the contractor working at the plant had More

Chinese chamber of commerce in Angola supports victims of earthquake in China

The Chinese Chamber of Commerce in Angola has donated over US$350,000 to the victims of the Ludian earthquake in China’s Yunnan province, which killed at least 617 people and left thousands without a home, said the chamber’s chairman Zhao Hongbing.

Cited by the China Daily newspaper, Zhao said that the funding would mainly be used to rebuild schools.

The earthquake, with a magnitude More

1st African Electricity Fair held in Luanda, Angola in September

The first edition of the African Electricity Fair (Expoasea 2014) is due to be held in Luanda from 9 to 11 September and will be attended by at least 40 countries, said fair host Feira Internacional de Luanda (FIL).

The event, which is organised by Angolan power company Empresa Nacional de Electricidade (ENE) and power distribution company Empresa de Distribuição de Electricidade More

Coffee seedlings distributed to producers in Angola

More than 20 million coffee seedlings are due to be produced by the end of the year, according to the director of the National Coffee Institute of Angola (INCA), João Ferreira.

The INCA director said that the seedlings would be distributed free of charge to producers as a way of supporting coffee production in Angola. He noted that in 1973 Angola produced More