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Brazil posts record trade surplus with China in 2016


In 2016 Brazil posted the highest ever surplus in trade with China, amounting to US$11.770 billion, according to figures from the Ministry of Industry Data, Foreign Trade and Services.

That figure, compared with surplus of US$4.888 billion in 2015, was due fundamentally to the fact that Brazilian imports of Chinese products have fallen 23.94% year on year.

In 2016, Brazil sold goods to More

Angola hires Chinese company to build civil registration system

The China National Electronics Import & Export Corporation has been hired to provide the technology solution for management of civil and criminal identification in Angola, as well as the issue of registration of birth and identity cards, under a presidential order.

The contract, which will cost Angola US$243 million, will be signed by the Ministry of Justice and Human Rights, arises from More

China helps pay for electronic governance in Cabo Verde

China will lend US$13 million to Cabo Verde (Cape Verde) for the second phase of the Electronic Governance programme (E-GOV II), a project that involves the installation of a local network in schools, public institutions and hospitals, as part of an agreement signed in the Cape Verdean capital, Praia.

Pan-African news agency PANA said the preferential loan was intended to finance the More

Banco BPI’s stake in Banco de Fomento Angola will be reduced

Spanish bank CaixaBank will draw up a plan to reduce Banco BPI’s stake in Banco de Fomento Angola, in which it holds a minority stake of 48.1% according to the prospectus of the takeover bid (OPA) launched on the Portuguese bank.

In the prospectus published through the Portuguese Securities Market Commission, CaixaBank said that the European Central Bank, when it accepted the More

Mozambique goes into default with its creditors

The government of Mozambique announced it would fail to pay the January coupon relative in the amount of US$59.7 million to holders of an issue of 726.5 million euros due to mature in 2023, in a statement from the Ministry of Economy and Finance issues on Monday in Maputo.

The statement explained the default was due to degradation of the country’s macroeconomic More

New contracts to prospect for hydrocarbons in Mozambique signed by June

Negotiation of contracts for oil and natural gas exploration areas in Mozambique resulting from the fifth international tender launched in 2014, could be finalised by the end of next June, according to government forecasts.

The government of Mozambique approved model contracts for hydrocarbon areas but foreign oil companies are still not sufficiently familiar with the document, which is why they have been More