Reports of an imminent government reshuffle and rising tension between the ruling MPLA party and the main opposition UNITA party are worrying investors in the major African oil producing nation of Angola (Reuters).
BUILDING OF THE WEEK
Artist’s view (from the air) of the Comandante Gika project in downtown Luanda (source: Skyscrapercity)
Angola, Africa’s third-largest oil producer, has cut its economic growth forecast for the second time in two months as government debt arrears delay construction work, the Finance Ministry said (Bloomberg).
The International Monetary Fund approved a $353 million disbursement to Angola as part of a $1.3 billion loan after reviewing the government’s policies, including efforts to reduce the economy’s vulnerability to volatility in the price of oil (Bloomberg).
The National Private Investment Agency (ANIP) will approve by this coming December foreign direct investment proposals estimated at US$6 billion (Macauhub).
Angola’s foreign exchange reserves rose to $15.77 billion in August from $15.29 billion in July, an internal central bank document showed, confirming comments made by the deputy governor of the bank earlier this month (Reuters).
Statoil says it has struck oil offshore Angola. The Norwegian company made a discovery at Cabaca South East-2 and raises oil estimate in place by 30 percent. Statoil has a 5 percent stake in the block, Eni has 35 percent while Angola’s Sonangol holds the concession (Reuters).
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The Programme to Boost Agriculture in Amboim, carried out in an area of 10,000 hectares of Kwanza Sul province, is expected to make it possible to harvest 5,000 tons of coffee in 2012 (Macauhub).
Delta Air Lines will add Luanda, Angola as its eighth destination in the airline’s Africa route network January 20, 2011, available for booking October 2. Operating three times a week on-board the 243-seat Airbus A330-200 aircraft, service will fly between Delta’s hub at Hartsfield-Jackson Atlanta International Airport and Luanda, with an intermediate stop in Dakar, Senegal.
The inspector general of the National Police, commissioner Salvador Rodrigues, appealed for the defence and dissemination of moral and civic values within the ranks of the corporation, seeking a service with professionalism and education of citizens (Afrol).