News from Cape Verde, Angola & Mozambique

Archive for October, 2012|Monthly archive page

Cape Verde Politics & Regional News

In Cape Verde on October 25, 2012 at 3:05 pm

CAPE VERDE FLIGHT GUIDE

Welcome on Board! Check out Atlantico Weekly’s latest feature, the Cape Verde Flight Guide, with TACV Cape Verde Airlines Winter 2012-13 timetable and an overview of all flights to and from Cape Verde!

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INTERNATIONAL

The President of the European Commission, Durao Barrosso, will visit Cape Verde in the next few days on the occasion of the fifth anniversary of Cape Verde’s Special Partnership with the EU, in order to sign two agreements. One agreement will focus on a visa waver for certain categories of visitor’s (like businessmen), the other will be the midterm review of the cooperation agreement between Cape Verde and the EU.

Foreign Minister Jorge Borges and his Brazilian counterpart António Patriota created of a bilateral working group to identify technical cooperation projects between Brazil and Cape Verde.

CD OF THE MONTH

BEST CAPE VERDE MUSIC & BOOKS

Be welcome to check out Atlantico Weekly’s music cd and book store in cooperation with Amazon.com! Browse the Atlantico Store for the latest and best Cape Verde and Angolan music, like Cesaria Evora, Tito Paris, Lura, Nancy Vieira, Mayra Andrade, Bonga and many others…! Also use the Atlantico Store to find relevant maps, books on politics, economics and history as well as travel or tourist guides about Cape Verde and Angola. You order straight with Amazon, one of the best online stores in the world. Enjoy!

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SAL

TripAdvisor, the world’s largest travel site, has awarded the Odjo d’Água Hotel on Sal Island a “Certificate of Excellence for the Year 2012,” making it the best of the island’s 17 hotels.

THE GRAND TOUR OF CAPE VERDE

Check out The Grand Tour of Cape Verde, Atlantico Weekly’s travel guide to the country’s main islands Santiago, Sal, Santo Antao, Boa Vista and Sao Vicente!

SANTO ANTAO

The first cruise ships bringing tourists from different nationalities arrived at the new port facilities of Porto Novo on Santo Antao. The new terminal building however will only be fully operational from November 2012.

Cape Verde Business & Economy News

In Cape Verde on October 25, 2012 at 3:04 pm

OPINION

Check out this latest article on Atlantico Weekly, dealing with Cape Verde’s Unique Aviation Opportunity. What future for TACV? Atlantico Weekly promotes a positive way forward and a growth strategy for the country’s struggling airline. Read how that can be done…!

ECONOMY

The government’s 2013 budget forecasts growth of approximately 5% and an inflation rate between 2.5% and 3.5%, A Semana reported.

Cape Verde has a new Securities Market Code. The first Securities Market Code, published 14 years ago, proved to be a milestone in the Cape Verdean financial regulation. However, the dynamism of the securities market requires frequent updates to its regulations, be they of either legal or regulatory nature. You can download the new Code here.

Cape Verde now has three approved gambling sites, A Semana reported. Fortim Mindelo on Sao Vicente, a hotel, casino and real estate project still awaiting realisation is one, while the same company is said to have been awarded another licence for a very ambitious project in Praia. There, located in the downtown Varzea area, the future casino will be part of a large development, containing among others a five-star Radisson-Blu hotel. The third licence will be for Hotel Odjo d’Agua on Sal, where Spanish investors will add a casino.

AVIATION

The Cape Verde government has created a working group that within the next 60 days has to come up with ideas to attract more cheap flights to Cape Verde in order to fill up the vacancies in the country’s hotels.

According to the Cape Verdean press TACV needs 50 million euros to pay off its debts. In addition another problem has arisen. The two new Boeing 737 aircraft are not able to serve fully loaded the main routes of the company to Europe, Brazil, and United States. The company is now looking to lease at least one Boeing 767.

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CAPE VERDE IN 2030

Atlantico Weekly is looking ahead!

Check out our Cape Verde in 2030 with a realistic glimpse of where and how Cape Verde will look like in the next decades …!

ENTREPRENEURS OF CAPE VERDE

Check out Atlantico Weekly’s Entrepreneurs of Cape Verde, a series of short interviews with entrepreneurs in Cape Verde, both homegrown and foreign. So far with Paulino Dias, Josephine Sturiale, Patone Lobo, Helen Hutchings and Steve Cooling, Emanuel Spencer, Djopan Oliveira, Alexandre Abade, Jacquie Cozens, Fatima Lima, Paulo Noel Martins, Barbara Szabo, Don Xavier, Jeffrey Silva and Djunga de Biluca. Latest addition is an interview with Romilda and Micau Tavares of O Cordel Restaurant in Mindelo…

TELECOMS

The Angolan telecom company Unitel Internacional, partly owned by Isabel dos Santos (pictured, visiting the President of the Republic), has acquired T+, the Cape Verde telecom operator which provides fixed line, mobile and Internet services. T+ currently has 25% of the Cape Verde market and has just launched its fixed line service.

Atlantico Weekly’s Angola Business News

In Angola on October 25, 2012 at 3:01 pm

PROJECT OF THE WEEK

Render of the Epal building, the future headquarters of the Luanda water utility company (Skyscrapercity).

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ECONOMY

Angola’s decision to set up a sovereign wealth fund was welcomed by Fitch Ratings, Reuters reported. The move reaffirms the government’s policies to reduce the economy’s exposure to the oil price and sustainable growth.

BEST ANGOLA MUSIC & BOOKS

Be welcome to check out Atlantico Weekly’s music cd and book store in cooperation with Amazon.com! Browse the Atlantico Store for the latest and best Angolan music, like Waldemar Bastos, Bonga and many others…! Also use the Atlantico Store to find relevant maps, books on politics, economics and history as well as travel or tourist guides about Angola. You order straight with Amazon, one of the best online stores in the world. Enjoy!

BUSINESS

Pick n Pay Stores Ltd., South Africa’s second-largest grocer, is investigating opportunities to expand into Nigeria, Angola and Ghana after opening stores in Zambia, Mozambique and Mauritius, Bloomberg reported.

Sonangol has become the largest shareholder in Portuguese bank Banco Comercial Português (BCP) by upping its stake to over 15 percent,after buying 40 million shares worth 3 million Euros.

Brazilian-Portuguese insurance group MDS is planing to start operating in Angola from early 2013. The insurer is also analysing other Africa markets such as Mozambique and Cape Verde.

AGRI ETC

One million eggs per day will be produced countrywide from April 2013, the Angolan minister of Economy, Abrãao Gourgel said, adding that with such production the country intends to achieve 50 percent of domestic consumption by 2015 (ANGOP).

AVIATION

Air Namibia is preparing to flights between Windhoek and Ondjiva (the capital of Angola’s Cunene Province), to broaden its operations in Angola. The company will also increase its weekly flights to Luanda to six (ANGOP).

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OIL & GAS

Offers on Angolan cargoes for the newly released December loading programme were seen as too high by traders, Reuters reported, resulting in slow sales. Initial offers released by Sonangol were around 40-50 cents above the levels traded for November cargoes.

According to A Worldbank report, Angola has oil resources for another 21 years of drilling.

Cape Verde Politics & Regional News

In Cape Verde on October 18, 2012 at 6:16 pm

CAPE VERDE FLIGHT GUIDE

Welcome on Board! Check out Atlantico Weekly’s latest feature, the Cape Verde Flight Guide, with TACV Cape Verde Airlines Winter 2012-13 timetable and an overview of all flights to and from Cape Verde!

CD OF THE MONTH

INTERNATIONAL

Cape Verde will from now on be represented by Brazil on the board of the IMF, where several nations represent constituencies made up of various countries. Brazil no longer represents Colombia, which switched over to Mexico’s constituency, while Nicaragua, East Timor and Cape Verde join Brazil’s (AW).

Cape Verde was ranked number one among the world’s Portuguese-language countries and among the 16 countries in West Africa by the 2012 Ibrahim African Governance Index. Out of the continent’s 52 countries, Cape Verde is bettered only by Mauritius.

Cape Verde’s national soccer team qualified for the first time in history for the Africa Cup of Nations, to be held in 2013 in South Africa. Though Cape Verde lost 2-1 to Cameroun in Yaoundé, they are celebrating an overall winning score, as they won the first match 2-0 in Praia last month (AW).

BEST CAPE VERDE MUSIC & BOOKS

Be welcome to check out Atlantico Weekly’s music cd and book store in cooperation with Amazon.com! Browse the Atlantico Store for the latest and best Cape Verde and Angolan music, like Cesaria Evora, Tito Paris, Lura, Nancy Vieira, Mayra Andrade, Bonga and many others…! Also use the Atlantico Store to find relevant maps, books on politics, economics and history as well as travel or tourist guides about Cape Verde and Angola. You order straight with Amazon, one of the best online stores in the world. Enjoy!

DEFENSE & SECURITY

Cape Verde next year will create a Military Rapid Intervention Unit to be operational in 2014 (AW).

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CAPE VERDE IN 2030

Atlantico Weekly is looking ahead!

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THE GRAND TOUR OF CAPE VERDE

Check out The Grand Tour of Cape Verde, Atlantico Weekly’s travel guide to the country’s main islands Santiago, Sal, Santo Antao, Boa Vista and Sao Vicente!

Cape Verde Business & Economy News

In Cape Verde on October 18, 2012 at 6:15 pm

PROJECT OF THE WEEK

Render of the Vila Esperança development in Praia’s Achada Grande Tras area, with over a 1000 plots for housing and commercial purposes. One of several projects in the capital directed at Cape Verde’s growing middle class

ECONOMY

Figures collected bu the INE for the 3rd quarter of 2012 reveal that the economic climate indicator continued its trend downward in the last quarter, ie the rate of economic growth continues to slow down. The indicator registered the lowest value of the last nine quarters in a row and positioned below the series average. It was also observed that the economic climate indicator evolved negatively for the same period of year 2011. The situation is regarded as economically unfavorable. This cyclical diagnosis results from findings submitted by entrepreneurs in the construction, real estate, tourism, industry, manufacturing and transport and related sectors (INE).

The inflation rate in september 2012 showed zero growth as compared to the previous month. In September 2012 the rate of change recorded by the CPI was 2.2%, the same as the previous month. The monthly variation observed between August and September 2012 was 0.6%, higher at 0.8 pp in the previous month. The average of the last twelve months was 2.6%, lower than the previous month by 0.2 percentage points. Santo Antao and Sao Vicente islands showed slightly higher inflation than the national average (INE).

BEST RESTAURANT OF CAPE VERDE

The Director of Atlantico Weekly ceremonially handed the owners of O Cordel Restaurant in Mindelo the Award connected to its election by readers of Atlantico Weekly as the Best Restaurant of Cape Verde 2012.

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ENTREPRENEURS OF CAPE VERDE

Check out Atlantico Weekly’s Entrepreneurs of Cape Verde, a series of short interviews with entrepreneurs in Cape Verde, both homegrown and foreign. So far with Paulino Dias, Josephine Sturiale, Patone Lobo, Helen Hutchings and Steve Cooling, Emanuel Spencer, Djopan Oliveira, Alexandre Abade, Jacquie Cozens, Fatima Lima, Paulo Noel Martins, Barbara Szabo, Don Xavier, Jeffrey Silva and Djunga de Biluca. Latest addition is an interview with Romilda and Micau Tavares of O Cordel Restaurant in Mindelo…

Atlantico Weekly’s Angola Business News

In Angola on October 18, 2012 at 6:12 pm

INTERNATIONAL

Some 350 police officers from Guine-Bissau are stuck in Angola, since the latest coup in that country. The policemen were trained in Angola from 2011 and finished their course in July 2012 (ABN).

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ECONOMY

With the drop in inflation in Angola to less than 10 percent, which is an all-time low, interest rates may start falling at the beginning of 2013, according to the Economist Intelligence Unit. The cementing of lower inflationary expectations, according to the EIU in its latest report on the Angolan economy, makes it possible to expect the Bank of Angola to lower interest rates in the first few months of next year, which would also be part of a strategy to increase credit to the economy.

The Angolan government launched a $5 billion sovereign wealth fund to invest in domestic and overseas assets from its oil wealth, among other things into infrastructure and tourism projects. The Angolan Sovereign Fund (FSA) which will also invest in financial securities and will be led by the economic affairs secretary. Jose Filomeno dos Santos, one of the president’s sons, will also sit on the three-person board, Reuters reported.

Angola has taken on a loan of US$1 billion with a payment period of seven years from Russian bank VTB Capital, according to international credit rating agency Moody’s cited by Angolan weekly newspaper O País, Macauhub reported.

BEST ANGOLA MUSIC & BOOKS

Be welcome to check out Atlantico Weekly’s music cd and book store in cooperation with Amazon.com! Browse the Atlantico Store for the latest and best Angolan music, like Waldemar Bastos, Bonga and many others…! Also use the Atlantico Store to find relevant maps, books on politics, economics and history as well as travel or tourist guides about Angola. You order straight with Amazon, one of the best online stores in the world. Enjoy!

BANKING & FINANCE

Standard Bank will open one more branch in Luanda’s Viana district. This is the eleventh branch of the bank in Angola, after having inaugurated branches in Belas Business Park, Shoprite Palanca, Torre Ambiente, Ginga Shopping, Hotel President, Mateba, Shoprite Lubango, Shoprite Huambo, Amílcar Cabral and Shoprite Lobito (ANGOP).

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MINING

Angola’s diamond trading company (Sodiam) is creating conditions to open new markets. Sodiam has been studying new markets and pointed out Dubai as a new front. Angolan diamonds are exported to Belgium, Switzerland, the United States of America and Antwerp (ANGOP).

Angola’s subsoil offers a wide variety of minerals, such as precious metals (gold and platinoid), basic materials (iron, copper, chromium, nickel), industrial metals (phosphates, limestone and industrial salts), heavy metals (zircon and titanium), and ornamental and building materials, the national director of mining, Kavungo Marlon, said. Investment opportunities exist in the  sub-sectors of diamonds, ornamental rocks, agro-minerals, iron
and manganese, uranium, gold and others (ANGOP).

Cape Verde Politics & Regional News

In Cape Verde on October 11, 2012 at 2:33 pm

CAPE VERDE FLIGHT GUIDE

Welcome on Board! Check out Atlantico Weekly’s latest feature, the Cape Verde Flight Guide, with TACV Cape Verde Airlines Winter 2012-13 timetable and an overview of all flights to and from Cape Verde!

POLITICS

President of the Republic Jorge Carlos Fonseca inspected the damage done by the floods on Boa Visa last week and called for urgent inquieries into the collapse of the Ribeira d’Agua bridge.

BEST CAPE VERDE MUSIC & BOOKS

Be welcome to check out Atlantico Weekly’s music cd and book store in cooperation with Amazon.com! Browse the Atlantico Store for the latest and best Cape Verde and Angolan music, like Cesaria Evora, Tito Paris, Lura, Nancy Vieira, Mayra Andrade, Bonga and many others…! Also use the Atlantico Store to find relevant maps, books on politics, economics and history as well as travel or tourist guides about Cape Verde and Angola. You order straight with Amazon, one of the best online stores in the world. Enjoy!

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CAPE VERDE IN 2030

Atlantico Weekly is looking ahead!

Check out our Cape Verde in 2030 with a realistic glimpse of where and how Cape Verde will look like in the next decades …!

SOME MUSIC WHILE YOU READ?

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THE GRAND TOUR OF CAPE VERDE

Check out The Grand Tour of Cape Verde, Atlantico Weekly’s travel guide to the country’s main islands Santiago, Sal, Santo Antao, Boa Vista and Sao Vicente!

Cape Verde Business & Economy News

In Cape Verde on October 11, 2012 at 2:32 pm

PROJECT OF THE WEEK

Render of the Salinas Beach Resort development on Maio Island’s most beautiful beach. Developer SOGEI of Cape Verde was awarded a Gold Award as “best developer in Africa” for this project during an OPP Gala Event in London this week (AW).

BEST RESTAURANT OF CAPE VERDE

Readers of Atlantico Weekly have voted on the Best Restaurant of Cape Verde 2012. Read about our candidates for best eatery of the country. And if your favourite place is not on our list, send us your candidate for next year… Enjoy!

BUSINESS

Correios de Cabo Verde (CCV) ended 2011 with anegative net result of 43,677 million escudos, against the 24,194 million escudos positive result of 2010, a decrease of 67,871 million escudos (AW).

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AVIATION

Maintenance of Halcyonair Cabo Verde Airways’ ATR-42 has been prolonged for another month, until November 8, the Cape Verde press reported.

ENTREPRENEURS OF CAPE VERDE

Check out Atlantico Weekly’s Entrepreneurs of Cape Verde, a series of short interviews with entrepreneurs in Cape Verde, both homegrown and foreign. So far with Paulino Dias, Josephine Sturiale, Patone Lobo, Helen Hutchings and Steve Cooling, Emanuel Spencer, Djopan Oliveira, Alexandre Abade, Jacquie Cozens, Fatima Lima, Paulo Noel Martins, Barbara Szabo, Don Xavier, Jeffrey Silva and Djunga de Biluca. More to come!

PORTS

National port management company ENAPOR’s provisional results from the first half of 2012 point to losses of 232 million escudos. The international financial crisis and the considerable investments made in various ports in the country are among the factors believed to have contributed to these results, the Cape Verde press reported.

POWER

The supply of electricity has been intermittent over the past several days throughout most of Cape Verde, especially on the islands of Santiago, São Vicente and Sal. Water and electricity utility Electra has provided no explanation to customers, but sources at the company say that the frequent and, in many cases prolonged, power outages are the result of a shortage of fuel, A Semana reported.

The utility company providing water and electricity on Fogo and Brava islands (Aguabrava) intends to invest in two wind and solar parks with a capacity to produce clean energy that reduces its dependence on Electra by up to 85 percent (AW).

Atlantico Weekly´s Angola Business News

In Cape Verde on October 11, 2012 at 2:29 pm

POLITICS

President of the Republic José Eduardo dos Santos appointed Joaquim Mande as the General Inspector of the State Administration. The Head of the Executive also appointed Ana Maria da Silva Sousa e Silva as the Deputy Secretary of the Cabinet Council. The President of the Republic also appointed the following Secretaries of State.

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ECONOMY

The IMF said that Angola’s GDP will have increased by 6,8% by the end of 2012. According to the IMF’s latest World Economic Outlook (WEO) report, Angola’s GDP will grow 5.5% in 2013. The IMF also predicted that the rate of inflation will decrease from 10.8% in 2012 to 8.6% in 2013; the estimates were partly lower than those contained in the previous report in April (11.1% in 2012, 8.3% in 2013).

The Special Economic Zone of Viana (ZEE) has as strategy plan for 2012-2015 to increase the incomes through new businesses and materialize new criterion of quality and efficiency of management, says  its CEO, António de Lemos (ANGOP).

The Industry sector invested from 2008 to 2012 over USD 1.7 billion in the licensing of various industries, which created 13,127 jobs, Angop has learnt. The investments were done in 14 provinces, being that Luanda leads the list with 74,95 per cent of the licensed projects, followed by Malanje (11,99), Benguela (5,33) and Bengo (2,67) (ANGOP).

BEST ANGOLA MUSIC & BOOKS

Be welcome to check out Atlantico Weekly’s music cd and book store in cooperation with Amazon.com! Browse the Atlantico Store for the latest and best Angolan music, like Waldemar Bastos, Bonga and many others…! Also use the Atlantico Store to find relevant maps, books on politics, economics and history as well as travel or tourist guides about Angola. You order straight with Amazon, one of the best online stores in the world. Enjoy!

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OIL & GAS

The BP oil group plans to invest around US$10 billion in Angola over the next 10 years. BP has already invested US$15 billion in its operations in Angola. BP plans to continue doing so given the oil reserves in the country and its economic and social stability (ANGOP).

Cape Verde Politics & Regional News

In Cape Verde on October 4, 2012 at 7:46 pm

CAPE VERDE FLIGHT GUIDE

Welcome on Board! Check out Atlantico Weekly’s latest feature, the Cape Verde Flight Guide, with TACV Cape Verde Airlines Winter 2012-13 timetable and an overview of all flights to and from Cape Verde!

BEST CAPE VERDE MUSIC & BOOKS

Be welcome to check out Atlantico Weekly’s music cd and book store in cooperation with Amazon.com! Browse the Atlantico Store for the latest and best Cape Verde and Angolan music, like Cesaria Evora, Tito Paris, Lura, Nancy Vieira, Mayra Andrade, Bonga and many others…! Also use the Atlantico Store to find relevant maps, books on politics, economics and history as well as travel or tourist guides about Cape Verde and Angola. You order straight with Amazon, one of the best online stores in the world. Enjoy!

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INTERNATIONAL

United Nations Secretary General Ban Ki-moon will make an official visit to Cape Verde in 2013, according to information provided by Cape Verdean President Jorge Carlos Fonseca following his recent trip the United States, A Semana reported.

20 YEARS OF CONSTITUTION

Legal experts and politicians of both Cape Verde and Portugal will participate in a conference on October 6 in Lisbon to commemorate the 20th anniversary of the Constitution of the Republic of Cape Verde.

CAPE VERDE IN 2030

Atlantico Weekly is looking ahead!

Check out our Cape Verde in 2030 with a realistic glimpse of where and how Cape Verde will look like in the next decades …!

SOME MUSIC WHILE YOU READ?

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BOA VISTA

The improvised bridge that opened up to traffic late Sunday morning in order to allow traffic to resume on the island of Boa Vista last week was short-lived, Cape Verde press reported. A new flash flood arriving from the north of the island destroyed the temporary access road, once again effectively splitting the island in two.

THE GRAND TOUR OF CAPE VERDE

Check out The Grand Tour of Cape Verde, Atlantico Weekly’s travel guide to the country’s main islands Santiago, Sal, Santo Antao, Boa Vista and Sao Vicente!

SANTO ANTAO

Heavy rains also caused some damage in the municipality of Ribeira Grande, leaving the people of Chã de Igreja township without electricity supply.

 

Cape Verde Business & Economy

In Cape Verde on October 4, 2012 at 7:44 pm

PROJECT OF THE WEEK

Render of the future Municipal Market in Praia, one of the biggest projects in the capital. Heavier than expected ground work in the low Varzea area has been delaying the project by a year, the Cape Verde press reports.

BEST RESTAURANT OF CAPE VERDE

Readers of Atlantico Weekly have voted on the Best Restaurant of Cape Verde 2012. Read about our candidates for best eatery of the country. And if your favourite place is not on our list, send us your candidate for next year… Enjoy!

AVIATION

Cape Verde’s airport management company Empresa Nacional de Aeroportos e Segurança Aérea (ASA) is set to issue bonds open to both national and foreign subscribers. The resulting funds will be used to fund the expansion, restructuring and improvement of Aristides Pereira International Airport on Boa Vista. The bonds will be paid back in five years and interest paid out every half year starting April, 2013, the Cape Verde press reported.

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ENTREPRENEURS OF CAPE VERDE

Check out Atlantico Weekly’s Entrepreneurs of Cape Verde, a series of short interviews with entrepreneurs in Cape Verde, both homegrown and foreign.  So far with Paulino Dias, Josephine Sturiale, Patone Lobo, Helen Hutchings and Steve Cooling, Emanuel Spencer, Djopan Oliveira, Alexandre Abade, Jacquie Cozens, Fatima Lima, Paulo Noel Martins, Barbara Szabo, Don Xavier, Jeffrey Silva and Djunga de Biluca. More to come!

TELECOMS

Telecom operator T+ has launched a fixed telephone service, with whihc it hopes to reach 20.000 customers in the next six months. The phone that comes with the connection is cordless, the Cape Verde press reported.

TOURISM

Aviareps do Brasil,  a branch of the world wide travel agency and the official representative of TACV Cape Verde Airlines in Brazil, intends to offer tourist packages to Brazilians for holidaying on Cape Verde, the Cape Verde press reports.

Tourists visiting Cape Verde are likely to pay two euros (220 escudos) per night conform a new tourist tax, which the government intends to introduce in 2013, the Director General for Tourism said

Atlantico Weekly’s Angola Business News

In Angola on October 4, 2012 at 7:42 pm

POLITICS

President of the Republic José Eduardo dos Santos has sworn in the provincial governors that were appointed following the last August 31 elections. Find their names here.

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ECONOMY

Angola’s new oil law may increase domestic banks’ liquidity and strengthen the currency, the Economist Intelligence Unit said. The legislation, which requires foreign oil companies to use only local banks, may yield $10 billion a year for Angola’s economy and uphold the value of the kwanza. It may also delay oil exploration and production projects (ABN).

BEST ANGOLA MUSIC & BOOKS

Be welcome to check out Atlantico Weekly’s music cd and book store in cooperation with Amazon.com! Browse the Atlantico Store for the latest and best Angolan music, like Waldemar Bastos, Bonga and many others…! Also use the Atlantico Store to find relevant maps, books on politics, economics and history as well as travel or tourist guides about Angola. You order straight with Amazon, one of the best online stores in the world. Enjoy!

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BUSINESS

At least five investment contracts, valued at USD 118 million, were approved by the National Agency for Private Investment (ANIP). The investment projects are  made by companies Lucky Line, Snecou Group-Angola, Pratiker, Continente Portugal/Angola-Angola and JSY, from Mauritania, Nigeria, Turkia, Angola and China.

BANKING & FINANCE

At least five new visa credit cards for private use in versions Classic, Prestige and Platinum and for business use in the Business and Corporate ranges were launched by the Angola Millennium Bank (ABN).

Atlantico Weekly’s Angola Business News

In Angola on October 4, 2012 at 9:52 am

PROJECT OF THE WEEK

Render of the refurbished Hotel Presidente near Luanda’s port, that will look like this after getting a new facade among other things (Skyscrapercity).

POLITICS

Angola swore in an elected president for the first time in its history, with long-serving leader Jose Eduardo dos Santos taking the oath for a fresh five-year mandate on top of his 33 years at the helm (Reuters).

The trial of 15 soldiers of the Angola’s Presidential Guard will resume in the Luanda Regional Military Tribunal on Friday, September 28. The members of the Central Protection and Security Unit (DCPS) in the Military Bureau of the Angolan Presidency are accused of the crime of making “demands in a group”, for claiming fair wages and better working conditions (All Africa).

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ECONOMY

Year-on-year inflation in the capital Luanda totalled 9.87 percent in August of this year., which is a 20 year low, according to Angola’s National Statistics Institute (INE).

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BUSINESS

A merger between Portuguese telecom operators Zon Multimedia and Sonaecom would create value and is now more likely after Angola’s Isabel dos Santos increased her stake in Zon to almost 30 percent, Sonaecom deputy CEO said according to Reuters.

Half of the projects carried out in Angola as part of the US$3.2 million credit lines provided by the Brazilian government are being carried out by construction company Odebrecht, which has led to the group creating a business “empire” in Angola, Macauhub reports.

Chinese business group CITIC will build 100,000 houses in 10 of Angola’s 18 province, the chairman of the group, Chang Zhenming said in Luanda during a two-day visit to Angola, Macauhub reports.

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BANKING & FINANCE

Angolan bank Millennium Angola has 14 billion kwanzas (US$146 million) to support businesspeople that take part in the Angola Invest Programme (Programa Angola Investe), to support micro, small and medium-sized Angolan companies, said the bank’s marketing director Fábio Correia (Macauhub).

OIL & GAS

Maersk Oil, a unit of Danish shipping and oil group A.P. Moller-Maersk , and its partners have found more oil in Block 16 off Angola, the company reported.

Angola will ship 53 cargoes of crude oil in November, three less than next month, according to a final loading program obtained by Bloomberg. The nation plans to export 51 million barrels, or 1.70 million barrels a day, the plan showed. This compares with 1.74 million in October. Exports for November will be more than the 1.67 million barrels a day scheduled in the preliminary plan released on Sept. 17, after one cargo of Girassol crude was added.

Taiwan’s CPC Corp. bought three cargoes of Angolan crude for loading in November from Sonangol Holdings and China International United Petroleum & Chemical Corp., known as Unipec (Bloomberg).