POLITICS
Angola’s two main political parties promised to improve living conditions in the oil-rich nation as they launched campaigns for the general election at rallies in the capital. The ruling Popular Movement for the Liberation of Angola (MPLA) and its longtime rival the National Union for the Independence of Angola (Unita), picked the same neighbourhood of Viana in Luanda for their first rallies ahead of the August 31 polls (AFP).
Angola’s ruling MPLA is using state media to its own advantage and restricting freedom of expression in the campaign for a general election on August 31, the main opposition party and a global rights group said (Reuters).
Angola’s main opposition party denounced what it claims was a violent intimidation campaign by the ruling party, three days before the start of a general election campaign. According to the National Union for the Independence of Angola (Unita), two people died and around 10 were injured after members of the Popular Movement for the Liberation of Angola (MPLA) ambushed a meeting of Unita party members in Kapupa, in the western Benguela region (News24).
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ECONOMY
China is at the top of the list of countries with private investment contracts signed in the first half of the year in Angola, mainly in sectors such as industry, telecommunications, and construction, the president of the National Agency for Private Investment (ANIP) said (Macauhub).
BUSINESS
Quest Water Global Inc., whose systems create water from humidity, is negotiating with theAfrican Development Bank for loans to build plants in Angola, where half the population lacks clean drinking water. The company received a letter of intent from the Tunisia-based bank to finance plants that will cost $5.5 million to $6 million each. Water is considered a “priority area of intervention” for the lender, which will consider the funding after Angola submits a formal request for support (Bloomberg).
Zon Multimédia plans to continue boosting its position in Africa, where it is present in partnership with Zap, which is controlled by Angolan businesswoman Isabel dos Santos, who is also the largest shareholder of the Portuguese operator (Macauhub).
INFRA
The trains on the Benguela Railroad in Angola are due to reach the border with the Democratic Republic of Congo next December, after being at a standstill for 30 years due to the Angolan civil war, said the chairman of state company Caminhos de Ferro de Benguela, José Carlos Gomes (Macauhub).
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OIL & GAS
Oil explorer Cobalt International Energy Inc said data from a well has confirmed the presence of a large oil reservoir off the coast of Angola, sending its shares up 19 percent. The well in Block 21 also confirmed a deeper reservoir than what was shown by a previous appraisal well, said the company (Reuters).
Chevron Corp plans to invest $2 billion to develop its Lianzi oilfield straddling the maritime border between Republic of Congo and Angola (Reuters).
Asian refiners will boost imports of Angolan crude in August to the highest level in six months while purchases from Nigeria will drop to a new low, a survey of seven traders and an analysis of loading plans obtained by Bloomberg News showed.
Halliburton Co. has launched an internal investigation into payments made to third parties in Angola and Iraq relating to customs and visa issues, according to a filing with the Securities & Exchange Commission (FoxNews).