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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.
China
11 May 2020

New Portugal-China Chamber of Commerce for SMEs
Adding to the Luso-Chinese Chamber of Commerce and Industry (CCILC), created in 1978, that represents the biggest companies and banks, a new chamber of commerce for small and medium-size enterprises (SMEs) of the two countries has now been created.
Angola
08 May 2020

Oil Price Fall Takes Angola From Budget Surplus to Deficit Above 4% of GDP
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. 
China
07 May 2020

Covid-19´s Impact on China and Other Trading Partners to Hurt Mozambique´s Growth
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.
Angola
30 April 2020

Banco Nacional Ultramarino and ICBC Macau partner for Portuguese-speaking countries
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.
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