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Angola
03 June 2020

Angola Talks With Oil Clients About Financing Facilities Reach “Advanced Stage”

Angola is in talks with some of its oil clients in a bid to restructure financing facilities, the Ministry of Finance has said. China is the main buyer of Angolan oil exports, and the creditor of around USD 23 billion .
China
02 June 2020

Long Road Ahead for Macau to Reach Hong Kong´s Level as Global Financial Hub

Macau has a long road to travel to reach that destiny, and it will need more financial experts and services that support the nascent industry. 
Hong Kong
26 May 2020

Macao casino magnate Stanley Ho dies at 98 in Hong Kong hospital

Macao gaming magnate Stanley Ho Hung Sun passed away in Hong Kong at the age of 98 today, his family announced outside Hong Kong Sanatorium and Hospital. Macao’s “king of gambling” had retired after an accident at his home in Hong Kong in 2009.
Angola
25 May 2020

Angola and China Negotiating Debt Relief

The matter of Angola´s USD 23 billion debt to China was addressed by the foreign ministers of both countries. Angolan minister Tete António also called attention to his counterpart to Angola´s privatization program, according to a statement from the Angolan Government. 
Angola
20 May 2020

China Aiming to Strengthen “Strategic Ties” to Angola

Gong Tao, ambassador of China to Angola, is confident debt negotiations between the two countries will be successful, and that bilateral relations will actually emerge stronger from the current hardship. In an interview published in Angola, marking his first year as ambassador, he reveals the foreign ministers of the two countries spoke on the phone on 11 May, and vowed to strengthen “strategic ties”. 
Angola
19 May 2020

Africa´s Debt Load Forces Negotiations, With China at the Center

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.
Angola
15 May 2020

Chinese financial group KWG drops out of deal to buy Angola´s BNI european branch

Chinese financial group KWG dropped out of a deal to buy the majority of the capital of Portugal-based BNI Europa, from Angolan bank BNI, led by banker Mário Palhares. According to BNI, KWG justified its decision with the context of uncertainty, caused by the covid-19 pandemic.
Angola
14 May 2020

Deal with China likely as weight of Angola´s debt burden grows

Angola´s economy should contract by more than 4% in 2020, making even harder the management of the country´s debt, already above 100% of GDP, and a default possible, according to the Economic Intelligence Unit´s (EIU) latest report on the country. With China among Angola´s main creditors, a bilateral deal is likely, but negotiations could prove difficult.
Macao
14 May 2020

Adelson ‘gives up’ on Japan casino project

US gaming mogul Sheldon Adelson’s Las Vegas Sands has given up on its US$10 billion casino project in Japan, objecting the terms of Japan’s casino legislation.
Mozambique
14 May 2020

Mozambique´s economy to contract 2.4% in 2020 due to pandemic

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.
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