27 May 2020
Samsung Heavy Industry is moving ahead in South Korea with the construction of a floating platform (FLNG) for the Area 4 joint-venture, led by Eni and which include´s China National Oil and Gas Exploration and Development Company, a subsidiary of CNPC. In spite of the current restrictions due to the Covid-19 pandemic, delivery is still scheduled for 2022.
21 May 2020
The Government of Mozambique announced the conclusion of a project to bring digital satellite television signal to 1,000 villages in the in the northern province of Cabo Delgado, which is estimated to benefit over 20,000 families. Covering all the ten provinces and the capital city of Mozambique, the project was co-funded by China and implemented by the Chinese electronics and media company StarTimes.
19 May 2020
China is Africa’s largest bilateral creditor, having given these countries estimated loans worth $152 billion between 2000 and 2018. With the economic crisis in countries like Angola or Mozambique generating debt repayment difficulties, negotiations are underway, with the engagement of China and private lenders.
17 May 2020
The Export-Import Bank of the United States (EXIM) will finance both the onshore and offshore facilities of an integrated liquefied natural gas (LNG) project located on the Afungi Peninsula in northern Mozambique, adding USD 1.8 billion to USD 5 billion previously pledged. The additional financing aims to push China and Russia financing aside, and generate business for US companies.
14 May 2020
With the coronavirus pandemic weighing on economic activity, the Economist Intelligence Unit (EIU) now expects the economy of Mozambique to contract by 2.4% in 2020. According to the EIU, the economy will pick up in 2021, growing by 2% as the agriculture sector rebounds.
11 May 2020
The United Nations Economic Commission for Africa (ECA) estimates that a one-month full lockdown across Africa would cost the continent about 2.5 per cent of its annual GDP, equivalent to about USD 65.7 billion per month. With the costs of the Covid-19 lockdown mounting, the ECA is now proposing 7 Lockdow Exit Strategies for African Countries that that "provide sustainable, albeit reduced, economic activity".
07 May 2020
The Mozambican government’s real GDP growth projection of 2.2% for this year may prove to be "somewhat optimistic", according to Eaglestone Securities, considering the uncertainties surrounding the impact that Covid-19 could ultimately have on the local economy.
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.
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.