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| China to apply for tender to build Brazil’s high speed train line |
Sao Paulo, Brazil, 9 Feb – The Chinese Railways Ministry has created a working group to prepare a proposal to compete for construction of Brazil’s first high speed railway line, newspaper Estado de São Paulo reported. [ more ] | | |  | | | | Brazil’s Queiroz Galvão in finishing stages of bridge construction in Luanda, Angola |
Luanda, Angola, 8 Feb – Construction of the new bridge in the area of Salinas de Cacuaco in Luanda, Angola, is in its concluding stages with the laying of the final layer of asphalt on the road, Angolan news agency Angop reported Monday. [ more ] | | | | | | | Portuguese credit line to Mozambique in place soon |
Maputo, Mozambique, 9 Feb – A credit line of 90 million euros created by the Portuguese government for Mozambique will be available “within two months” the Portuguese secretary of state for the treasury and finance said Monday in Maputo. [ more ] | | | | | | MORE NEWS
| | Japan grants US$60 million to rebuild road in Mozambique | | | | Mozambique’s Nampula province receives US$2.3 billion in investment | | | | FACIM 2010 will be held, confirms Sogex ex-president | | | | Angolan government plans to increase conservation areas by 2012 | | | | Prices in Brazil rise 0.75 percent in January, the highest rate in 20 months | | |
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A view of Maputo
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Multinationals in Mozambique have one transition year to adopt international accounting standards
Maputo, Mozambique, 8 Feb – Large multinational companies operating in Mozambique are already adopting the International Financial Reporting Standards (IFRS), while small and medium sized firms have one year to adopt them, by 2011.
Mozambique’s use of the IFRS, the standard international accounting system, has facilitated the work of many large companies, which were previously forced to use two accounting systems.
In recent notes on the IFRS, Mozambique’s Tax Authority explained that companies were using one statement of results for the country where they operated, for tax effects, and another for the origin country, for consolidation of results. [ more ] |
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