PROJECT OF THE WEEK
Render of the four star Spa Por do Sol Hotel for Huambo (Skyscrapercity).
Nine Angolan parties and coalitions will battle it out in upcoming parliamentary elections, the oil-rich nation’s third since independence in 1975, its top constitutional authority said (News24).
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The Economist analyses how booming Angola´s oil money may be trickling down to the country´s poor (The Economist).
FastJet, the African discount airline startup backed EasyJet´s Stelios Haji-Ioannou, said it aims to operate 15 leased Airbus SAS aircraft within a year and will be a prospective customer for new models from the European planemaker and U.S. rival Boeing Co. (Bloomberg).
Stake-holding company Santoro Finance – Prestação de Serviços now owns 19.336 percent of Portuguese bank BPI after acquiring 9.436 percent of the bank’s shares from Spanish bank Caixa Bank (Macauhub).
The Angolan government has spent over US$3.3 billion on the programme to rebuild and modernise the Luanda, Moçâmedes and Benguela railroads, said the country’s transport minister Augusto da Silva Tomás (Macauhub).
OIL & GAS
Angola is planning to launch a bidding round for onshore oil exploration rights next year in a bid to double production by the end of the decade, the Financial Times reported (Reuters).
MINING & STEEL
A court battle between two multi-millionaires who fell out after making a fortune from Angolan diamonds ended when Arkady Gaydamak lost his bid to reclaim hundreds of millions of dollars he said he was owed by “king of diamonds” Lev Leviev (Reuters).
The Mining Code in place in Angola since 2011 will make its possible for investors to take a majority stake in mining companies, to reduce their tax burden from 35 percent to 25 percent and allow a single contract to be signed covering prospecting and exploration, the chairman of diamond mining company Endiama said (Macauhub).
Angola, by 2020, may achieve its target of 4.6 million tourists per year and 1 million direct jobs, the deputy Hotels and Tourism Minister, Paulino Baptista said (Macauhub).