08 May 2020
The fall in oil prices is set to counter the Angolan Government´s balancing of its budget. The Government projected a third surplus in 2020, but a revision of the budget is ongoing, and economists now point to deficit of at least 4% of GDP, along with a fall in foreign currency reserves.
05 May 2020
Chinese oil imports from Angola fell nearly 19% in the first quarter of the year, while increasing from Russia and Saudi Arabia, the country´s 2 main suppliers. The reduction of Angola´s exports is putting pressure on its trade balance of goods, according to data from the national bank.
04 May 2020
Starting May 5th, a new and improved CL Brief e-mail newsletter will be available to all its readers, with timely, reliable and relevant information about business issues regarding the Portuguese-Speaking Countries (PSCs), China and other Asian economies.
03 May 2020
On 24 April 2020, a new Presidential Decree amended certain restrictions to allow essential industries to return 50% of their employees to the workplace. Among the first to announce return of operations, in a scaled manner, is Lulo diamond mine.
30 April 2020
Banco Nacional Ultramarino bank and the Industrial and Commercial Bank of China (Macau) have signed a memorandum of understanding for the joint promotion of business between China and the Portuguese-speaking countries, according to a statement by the issuing bank.
21 April 2020
The 2020 Lines of Government Action, the first presented under the new chief executive, Ho Iat Seng, essentially retain that central role and opens new avenues for their development, like a Renminbi-denominated stock market and e-commerce platforms.