Atlantico Weekly

Archive for the ‘Travel’ Category

Cape Verde news update, February 28th

In Airports, Cape Verde, Economy, Energy, Infrastructure, Investments, Tourism, Travel on February 28, 2010 at 10:24 am

POLITICS

The representative of the European Union (EU) in Cape Verde, Josep Coll, expressed today, the wish to announce during the Spanish Presidency, the partnership agreement to mobility between Cape Verde and Europe, whose negotiations are in progress (Inforpress).

ECONOMY

The Parliament approved, with abstention of the União Cabo-Verdiana Independente e Democrática (UCID), the alteration of the legal regime of the exploration of fortune games that will legalise the installation of gambling house in the country (Inforpress).

ENERGY

The Department of Energy is working to expand the building at the Palmarejo power plant and reinforce its capacity with two additional Wartsila 10 MW generators as a part of the government’s effort to centralize electricity production on the island of Santiago (A Semana).

TOURISM

The Department of Tourism held a forum in Praia to present its new website, the new tourism magazine and the Cape Verde Brand. The event, denominated “Cape Verde Wave” (“Onda Cabo Verde”), is hoped to involve all those connected to the sector in the implementation of the Strategic Tourism Plan (A Semana).

FOGO

São Filipe mayor Eugénio Veiga called for the creation of an institution of investigation and research in the areas of volcanology and geophysics on the island of Fogo. The mayor’s request comes following a study by Germany’s Leibniz Institute, which warned about the possibility of an underwater volcanic eruption near the island of Fogo (A Semana).

AIRPORTS

The decision to locate the future Santo Antão airport in the municipality of Porto Novo enjoys the consensus of political institutions, business owners and society at large, all of whom say that what is most important is to have an airport that serves the island’s development (A Semana).

Cape Verde news update, February 14th

In Airports, Banking, Cape Verde, Media, Oil, Politics, Ports, Telecom, Tourism, Travel on February 14, 2010 at 2:44 pm

POLITICS

Cape Verdean President Pedro Verona Pires met with a Venezuelan delegation made up of three cabinet ministers and the director of the country’s Department of Petroleum. The visit is the first by high-level Venezuelan officials to Cape Verde, and comes as the two countries are seeking to expand bilateral relations (A Semana).

At the same time, the president of Cape Verde’s National Assembly signed a cooperation protocol with Cuba’s parliament. The accord comes as part of a visit by a Cape Verdean parliamentary delegation to Cuba (A Semana).

The new extraordinary ambassador and plenipotentiary of the Republic of Cape Verde in Senegal, Francisco Pereira da Veiga, promised today in Praia to work with persistence to fulfil the mission that was conferred to him (Inforpress).

AIR TRAVEL

The African market is responsible for 15% of TAP Air Portugal’s revenues, and is expected to grow some 6.5% this year. The continent represented the only market in which the Portuguese airline saw growth last year, reason enough for Africa to be considered one of TAP’s most important destinations. TAP will soon start operating flights to and from Sao Vicente’s Sao Pedro airport (A Semana).

TACV Cabo Verde Airlines will begin operating a direct weekly flight between São Vicente and Portuguese capital Lisbon on April 29 in order to respond to demand in Cape Verde’s northern region (A Semana).

TACV is in negotiations aiming to take Brazilian adepts to the first World Football Cup to be hold in Africa,  next June (Inforpress).

TELECOM

The liberalization of the telecommunications sector in Cape Verde in 2006 resulted in an exponential increase in the number of mobile telephone users from some 100,000 to the current figure of nearly 300,000 (A Semana).

MEDIA

The Council of Ministers, Cape Verde’s cabinet, this week analyzed a number of proposed alterations to the law regulating media outlets and journalistic activities in the country. The main innovations include the introduction of on-line publications, the consecration of collective entities’ right to respond and the right to clarification (A Semana).

PORTS

Rough seas with waves of more than five meters caused the rupture of some 30 meters of the wall protecting Vale dos Cavaleiros port in São Filipe, on the island of Fogo. The waves are now endangering various other buildings at the sea port, including the passenger terminal (A Semana).

The first phase of refurbishment and expansion work on the port of Porto Novo is due to begin next May, the chief executive of national ports management company, Enapor, Jorge Pimenta Rodrigues said in Santo Antão (Macauhub).

BANKING

The chairman of the board of the Administration of the African Bank of Investment (BAI – Cape Verde ), David Jasse, announced that his bank intends to conquer 15 percent of the Cape Verdean market in three years (Inforpress).

WIND

The installation of four wind farms on four Cape Verdean islands is due to begin in the archipelago’s capital Praia, whose municipal council signed an agreement to grant land for the project on the outskirts of the city. Representing an investment of US$84 million, the four wind farms will produce between 22.5 and 28 megawatts of power, and the wind farm to be built near Praia will have a capacity of 10 megawatts (Macauhub).

Cape Verde news update, February 7th

In Airports, Angola, Banking, Cape Verde, Economy, Elections, Energy, Oil, Politics, Ports, Tourism, Travel on February 7, 2010 at 11:34 pm

POLITICS

More than 500 citizens will hold a dinner this Friday on the island of São Vicente to encourage Minister of Infrastructures and Transportation Manuel Inocêncio Sousa to run for President of Cape Verde in 2011 (A Semana).

ECONOMY

The government plans to introduce a legal minimum wage in Cape Verde before the end of this year, according to an announcement made by Prime Minister José Maria Neves following a meeting in which labor union federation UNTC-CS’s general secretary Júlio Ascensão Silva presented the premier with a study the organization carried out on the issue (A Semana).

The resident coordinator of the United Nations, Petra Lantz, said that the group of support to the transition of Cape Verde to the group of Less Advanced Countries (LAC) evaluates the process positively (Inforpress).

The Entrepreneurial Development and Innovation Agency (ADEI) will promote a debate February 5 on the proposal for a bill for the Legal Regime for the Recovery of Businesses, which intends to regulate under what conditions companies may declare bankruptcy. The discussion will include the presence of Minister of the Economy Fátima Fialho (A Semana).

BUSINESS

Cape Verdean fuel company Enacol in 2009 consolidated its overall leadership of the market in Cape Verde, with a market share of 54.8 percent, the company said in a statement issued in Praia (Macauhub).

BANKING

The Banco Africano de Investmentos Cabo Verde, in which the Angolan Banco Africano de Investmimentos and Sonangol hold a majority stake, has opened two branches in Praia, the bank’s communication director announced (Macauhub).

PORTS

Construction of the deepwater port in Mindelo will generate annual revenue of between 14.2 million and 21.4 million euros up to 2023, the head of Cape Verde’s National Port Administration Company (Enapor) has stated (Macauhub).

The Director of the management unit of the Millennium Challenge Account (MCA-Cape Verde), Laurent Medhi Brito, assured today  that the works of the Port of Praia may not exceed the period of completion, scheduled for September (InforPress).

The contest for adjudication of the work of expansion and modernisation of the ports of Vale dos Cavaleiros (Fogo) and Furna (Brava) has just been launched (Inforpress).

The three ship container scanners ordered from Chinese company Nuctech by Cape Verdean port management company Enapor to reinforce security in the ports of Praia, Mindelo and Palmeira have arrived in Cape Verde. The equipment, however, will only begin functioning in April of this year (A Semana).

AIR TRAVEL

The national air transporter, TACV carried out the first commercial flight with intercontinental destination to São Pedro’s international airport in São Vicente, from Boston in the USA (Inforpress) .

TACV Cabo Verde Airlines has signed a contract with Portuguese tourist agency Entremares to carry out charter flights during the summer to the islands of Sal and Boa Vista (A Semana).

ENERGY

Cape Verde has the capacity to produce 12 megawatts of wind energy, putting it 5th place in the overall ranking of African and Middle Eastern countries in the sector (A Semana).

Surinam news update, January 31st

In Airports, Banking, Economy, Infrastructure, Investments, Ports, Surinam, Tourism, Travel on January 31, 2010 at 1:03 pm

FINANCE

Surinam insurance company Self Reliance announced it will take over Clico-Surinam, another local insurance company that was hit hard by the global crisis. The bail-out by Self Reliance was made possible with financial support from the Surinam Ministry of Finance and the Central Bank of Surinam (DWT).

PORTS

A trio of local banks, DSB-bank, Hakrinbank and RBTT will loan an amount of 28 million SRD to Surinam Port authority NV Havenbeer. This sum is needed to co-finance a second phase of the expansion and improvement of Paramaribo’s Nieuwe Haven Terminal (DWT).

AIR TRAVEL

SLM, Surinam Airways, is considering hiring a second Airbus A340-300 for the expansion of its route Paramaribo-Amsterdam and the development of new routes to the US, Canada and Europe (DWT).

Angola news update, January 31st

In Airports, Angola, Banking, Brazil, Economy, Energy, Hotels, Infrastructure, Investments, Oil, Politics, Ports, Real estate, Retail, Security, South Africa, Telecom, Travel on January 31, 2010 at 12:32 pm

ECONOMY

Two years ago, oil-rich Angola was reckoned to have one of the world’s fastest-growing economies. In both 2006 and 2007 real GDP had surged by around 20%, and double-digit growth rates were widely predicted for at least the next five years. Then oil prices crashed with the global recession. Last year the economy is estimated to have grown, at best, by 1.5%. But it is bouncing back. Some say Angola will be among the world’s top five performers again this year, with growth exceeding 8%. Read the full story in The Economist.

Though Angola wants to woo foreign investors, everything seems contrived to deter all but the most intrepid and patient. Getting a visa, for a start, can take many months. Finding somewhere to stay in Luanda, a capital city built for 500,000 that is now home to 5m, is not much easier. A single hotel room, if you can find one, will set you back $500-600 a night. Read about the virtues you need for doing business in Angola in The Economist.

ATLANTICO

The political and economic rivalry between SA and Angola is expected to graduate into a battle for dominance in the Southern African Development Community (Sadc) , says US-based global intelligence think-tank Stratfor (BusinessDay).

BANKING

Standard Bank sees Angola as key growth market. Warming relations between Angola and SA and the ties Africa’s biggest bank by assets has with China and Russia — rivals in attempts to secure access to Angolan resources — should help the new business, a senior executive said (BusinessDay). Africa’s biggest bank by assets plans to invest millions of dollars in Angola to set up a commercial and investment bank and offer retail banking services (News24).

BUSINESS

A new production line for soft drinking production will be operating from May this year at Sefa factory, that will increase the company’s production capacity from 3,000 to 10,500 cases per day (Angop).

PORTS

Lobito Port, in the central Benguela Province, will handle over  12,000 tons of load per year, its director told ANGOP.

OIL

Angola and India have signed a memorandum of  understanding in the oil sector, aimed at strengthening bilateral cooperation, mainly in the entrepreneurial field (ANGOP).

AIR TRAVEL

Angolan airline Taag plans to carry 1.7 million passengers per year as of 2012 as compared to 1.1 million currently, the coordinator of the company’s management commission, Pimentel de Araújo said (Macauhub).

INVESTMENT

The Angolan government approved 39 investment projects valued at a total of US$7 billion. In a statement released after a Council of Ministers meeting, the government said that the investments were focused on the retail, real estate, telecommunications, energy and transport sectors (Macauhub).

Portuguese group Unicer plans to invest US$120 million, US$85 million of which in the first phase, in construction of a beer factory in Angola’s Bengo province, the group’s representative in Angola, José Teixeira said in Luanda (Macauhub).

Brazilian group Odebrecht is analysing the possibility of investing in a petrochemical project in Angola, the group’s chief executive told Brazilian newspaper Estado de São Paulo (Macauhub).

Cape Verde news update, January 31st

In Airports, Banking, Cape Verde, Economy, Politics, Tourism, Travel on January 31, 2010 at 11:32 am

ECONOMY

The government has expressed its satisfaction with the improved raking of Cape Verde on the 2010 Economic Freedom Index released by The Heritage Foundation /Wall Street Journal, and has downplayed the drop in one slot since last year (A Semana).

European Union

Cape Verde’s Minister of Foreign Affairs, Cooperation and Communities, José Brito, met in Brussels with European Union diplomatic officials for the first evaluation meeting between Praia and Brussels following the Lisbon Treaty (A Semana).

BANKING

The new board of directors of Cape Verdean bank Banco Comercial do Atlântico, owned by Portugal’s Caixa Geral de Depósitos (CGD), is considering the possibility of a capital increase this year, the bank’s new chairman said (VisaoNews).

Also Cape Verdean bank, Banco Interatlântico plans to increase its capital from 600 million to 1 billion Cape Verdean escudos (from 5.4 million to 9.06 million euros), the bank’s chairman said (Macauhub).

TRAVEL

TAP-Air Portugal is waiting for operational conditions to start flying directly from Lisbon to the Cape Verdean island of Sao Vicente, the representative of the Portuguese airline said (Macauhub).

Brazil news update, January 24th

In Airports, Banking, Brazil, Economy, Energy, Foreign Trade, Investments, Mining, Oil, Politics, Real estate, Retail, Tourism, Travel on January 24, 2010 at 10:45 pm

POLITICS

Gandhi had to wait until 34 years after his death before he appeared on cinema screens around the world. George Bush junior, by contrast, was the victim of an Oliver Stone biopic during the last year of his presidency. Now a Brazilian director, Fábio Barreto, has done the same for Brazil’s president, Luiz Inácio Lula da Silva, as he starts his final year of office (The Economist).

It is 25 years since Brazil moved from dictatorship to democracy, but its army remains surprisingly unreformed. President Luiz Inácio Lula da Silva was rudely reminded of this just before Christmas when he signed a decree calling for a truth commission to investigate torture, killings and disappearances during military rule between 1964 and 1985. Within 24 hours the heads of the three armed forces threatened to resign along with Nelson Jobim, the defence minister. Lula seemed quick to retreat. He was reported as saying the government would think again (The Economist).

Speculation is intensifying over the political future of Henrique Meirelles, Brazil’s central bank chief, as October’s general elections draw closer, raising concerns over the continuity of monetary policy (Reuters).

2010 will mark the election of the 36th official President of the Brazilian Republic. Although the official calendar for campaigning does not begin until October 3rd, the political atmosphere is already dense with debate. The deadline for candidate registry isn’t until July 5th, but with parties looking to affiliate themselves to recent Brazilian political triumphs – such as the Olympics – a handful of pre-candidates for the presidency are already popping into the limelight. Amongst the many who plan to run, the current forerunners are: Marina Silva (PV-AC), José Serra (PSDB-SP), Dilma Rousseff (PT), and Ciro Gomes (PSB-CE). Check them out at Rio Times.

ECONOMY

Brazilian households like to buy the newest gadget and prefer to spend on items that will enhance their short-term wellbeing rather than save for a rainy day. This partly explains Brazil’s low saving rate – which has fluctuated around 17 per cent of GDP over the last decade, a number that contrasts sharply with China’s 45-50 per cent. Read the view by Arminio Fraga.

Brazil’s economy should grow 5.2 percent in 2010, the country’s finance minister said, underscoring a strong rebound in Latin America’s largest economy (Reuters).

The European Union and Mercosur, the South American trade bloc led by Brazil and Argentina, are studying restarting talks this year to reach a free-trade agreement, an EU trade official said (Bloomberg).

Brazilian exports to the US fell by 42 percent in 2009, to US$15.7 billion, with China replacing the US as Brazil’s top export market, with US$19.9 billion of exports, or more than 13 percent of all Brazil’s exports, according to figures released by the Ministry of Trade (Rio Times).

BANKING & FINANCE

Banco Bradesco, Brazil’s second-largest private-sector bank, said it agreed to buy Mexican bank Ibi Mexico for an undisclosed sum, marking its first international foray in retail banking as it seeks to take advantage of rising credit demand (Reuters).

Brazil’s state-run utility holding Eletrobras plans to raise $4 billion this year to hedge costs associated with the commercialization of energy from the giant Itaipu dam. However, that money will not go to paying overdue dividends, company president Jose Antonio Muniz said. Eletrobras will pay those dividends from its own funds, he said. The company agreed earlier on Friday to pay 10.33 billion reais ($5.65 billion) in overdue dividends dating to the 1970s (Reuters).

Qatar is interested in buying minority stakes in Petrobras and Banco do Brasil, a Brazilian cabinet official told Reuters. The country’s investment agency already owns a $300 million stake in Brazil’s Vale, the world’s largest iron ore miner (Reuters).

OIL

Brazilian oil and gas start-up company OGX Petroleo e Gas Participacoes saidit had found signs of hydrocarbons in a well in the southern part of the offshore Campos basin (Reuters).

MINING

A Brazilian scientist is developing a method of purifying contaminated waste water that accumulates at mining sites by using a genetically modified bacteria that can absorb heavy metals (Reuters).

INVESTMENT

Carrefour SA, Europe’s biggest retailer, plans to invest 2.5 billion reais ($1.4 billion) in Brazil in the next two years to expand in the north and northeast regions of Latin America’s largest economy (Bloomberg).

REAL ESTATE

Housing prices in Sao Paulo and Rio de Janeiro will jump as much as 40 percent in the next year as record-low interest rates and a growing Brazil economy boost demand, according to the chief executive officer of Gafisa SA (Bloomberg).

AIR TRAVEL

The continuing growth of the domestic airline industry has stimulated investors and over the last few months more airlines have obtained permits to begin operations while others have obtained concessions for new domestic routes (Rio Times).

Cape Verde news update, January 3rd

In Cape Verde, Economy, Energy, Foreign Trade, Hotels, Investments, Ports, Real estate, Tourism, Travel on January 3, 2010 at 1:42 pm

ECONOMY

Cape Verde is a “success story” as a country in Africa and in its relations with the European Union, according to affirmations made by the European Commission representative in Praia, Jospe Coll, in an interview with newspaper OJE and Portuguese news agency Lusa. The EU official says that the country offers “new cooperation opportunities” to its foreign partners (A Semana).

The Minister of the Presidency and cabinet spokeswoman Janira Hopffer Almada announced last week that the government will carry out a gradual reduction in customs tariffs between now and 2018, a commitment made when Cape Verde joined the World Trade Organization. This reduction “will benefit purchasing power and improve the business environment.” (A Semana)

Cape Verde is among the most sought-after New Year’s tourist destinations for Europeans this year. A number of tourist companies and travel agencies saw their vacation packages to the country sell out for the Reveillon (A Semana).

ENERGY

The islands of Santiago and Sal will see their electricity production capacities reinforced beginning next summer. The guarantee was given by Minister of the Economy, Growth and Competitiveness Fátima Fialho during the ceremony for the signing of two contracts with a Portuguese company for the purchase, installation and maintenance of two diesel potential reinforcements intended to give “greater electricity potential” to the two islands. The two mobile generators can also be taken to other islands when they are no longer needed on Sal and Santiago (A Semana).

REAL ESTATE

Real-estate company Tecnicil has gone to the Cape Verde Stick Exchange to issue future bonds in order to finance its Vila Verde Resort real-estate project. The company has issued more than one million ordinary bonds at a nominal worth of 1,000 escudos each, for a total of 1,102,650,000 escudos in bonds at a fixed interest rate of 7.5% (A Semana).

Not long ago, the Cape Verde islands were billed as the new Caribbean. With endless beaches, guaranteed sunshine, engaging people and only a five-hour flight from the UK, this archipelago 300 miles off West Africa was full of promise for holidaymakers and investors. So, what’s happening now? Read the report in the Daily Mail.

TRANSPORT

The hydrofoil Marine Princess remains docked at Praia sea port with no date in sight for the resumption of business. After news indicating that the vessel was paralyzed due to the departure of its captain, several A Semana Online sources have revealed additional problems that have combined to keep the embarkation from going out to sea. This is the second time the Marine Princess has been forced to lay idle in the short time it has been operating in Cape Verde, thus dashing expectations that it would help resolve the problematic issue of connections among the country’s southern islands (A Semana).

Cape Verde news update, December 20th

In Airports, Cape Verde, Economy, Energy, Politics, Ports, Security, Telecom, Travel on December 20, 2009 at 4:59 pm

SECURITY

The border service at Sal’s Amílcar Cabral International Airport has started carrying out consultations using the new PASSE border control system, the same day the system was officially unveiled by Minister of Internal Administration Lívio Lopes and by Portugal’s State Secretary of Internal Administration, Dalila Araújo (A Semana).

ECONOMY

Between 2005 and 2007, Cape Verde grew at an annual average of 8.4%, according to data to be presented tomorrow, December 16, by the National Statistics Institute INE) (A Semana).

United States congressman Barney Frank congratulated the directors of the Millennium Challenge Corporation (MCC) for its historic decision to make Cape Verde the first country eligible for a second Millennium Challenge Account compact in Washington, D.C. The MCC’s chief executive officer responded with praise for Cape Verde (A Semana).

The National Assembly approved a bill reducing customs tariffs for construction and pavements materials, aircraft parts, telecommunications, electricity, sound and photographic equipment and accessories, and a number of other articles. The bill was approved 51 favorable votes – 39 from the PAICV, 11 from the MpD and one from the UCID – and two abstentions (A Semana).

AIR TRAVEL

São Pedro Airport on the island of São Vicente has been authorized to receive international flights by the Civil Aeronautics Agency. The airport  received its first international cargo flight, a Boeing 737 sent by Portuguese airline TAP that will bring equipment for the airline’s international operations on the island (A Semana).

PORTS

The first phase in the expansion and modernization of Vale dos Cavaleiros sea port in São Filipe, Fogo, will be unveiled this week. The 140 million-escudo project was executed by construction company Armando Cunha (A Semana).

ENERGY

The government of Cape Verde and two foreign companies, Vestel and Infraco signed a contract for construction of four wind farms, aimed at providing 25 percent of the electricity consumed on the archipelago (Macauhub).

Angola news update, December 20th

In Angola, Banking, Oil, Travel on December 20, 2009 at 4:58 pm

OIL

Angola, holder of the OPEC presidency and host of an OPEC meeting next week, is the least compliant with the group’s agreements to limit oil output, according to Reuters calculations.

Sonangol SA, Angola’s state-run oil producer said a number of companies have shown interest in partnering it to search for oil in Iraq (Bloomberg).

Angola’s oil exports are expected to remain above 1.8 million barrels per day in February, despite a slight drop on the previous month, according to export projections from operators in the country (Macauhub).

BANKING

The Angolan council of ministers approved the memorandum of understanding between the governments of Angola and Portugal to set up a bank in Angola, with a subsidiary in Portugal (Macauhub).

AIR TRAVEL

Angolan airline Taag, which has been on the European Union black list of flying in EU air space since June 2007, has had its safety standards internationally recognised, Portuguese newspaper Sol reported (Macauhub).

Brazil news update, December 14th

In Agriculture, Banking, Brazil, Economy, Infrastructure, Investments, Mining, Oil, Politics, Telecom, Travel on December 14, 2009 at 7:05 pm

ECONOMY

At present, Brazil is the fifth-largest country in the world and has the fifth-largest population as well. But in 17 years’ time, it will also be the fifth-largest economy in the world, says its finance minister, Guido Mantega. Read the full article at the BBC.

Brazil’s government said it will lend an additional $80 billion reais ($45.3 billion) to the national development bank over the next two years to boost investment and keep the economy’s strong recovery on track (Reuters).

Brazil’s economy created a record number of jobs in November, in the latest sign the country’s labor market has fully recovered from this year’s recession, President Luiz Inacio Lula da Silva said (Reuters).

BUSINESS

Brazil’s JBS SA, the world’s largest beef processor, said it plans to raise the equivalent of $2 billion in a bond offering, part of a plan to fund its U.S. unit after the takeover of Pilgrim’s Pride Corp (Reuters).

China’s Lenovo, the world’s fourth-largest seller of personal computers, is “open” to buy rivals in Brazil, where it wants to triple market share by 2014, if it strikes the right acquisition price, the company’s top two officials said (Reuters).

Brazil’s Embraer, the world’s third largest aircraft maker, has signed an agreement with CDB Leasing Co worth $2.2 billion over three years to help finance the sale of regional jets in Asia (Reuters).

Brazil’s Embraer, the world’s third-largest aircraft maker, will likely sell a record $500 million worth of planes in Brazil this year, helping offset a tumble in global demand amid the worst civil aviation market in years (Reuters).

Brazilian aircraft manufacturer Embraer will be invited to join a tender to supply narrow-bodied planes to United Airlines, the head of United’s parent company UAL Corp said (Reuters).

France’s Renault SA plans to invest about 1 billion reais ($571 million) in Brazil over the next three years, the company’s chief for the Mercosur trade bloc said (Reuters).

MINING

Iron ore prices will likely rise in 2010, underpinned by growing demand from China, the chief executive of Brazilian mining giant Vale said, without offering estimates of how much prices could rise (Reuters).

AMAZON

The $7.7 billion Santo Antonio dam on the Madeira river is part of Brazil’s largest concerted development plan for the Amazon since the country’s military government cut highways through the rain forest to settle the vast region during its two-decade reign starting in 1964. Read the full report at Reuters.

Brazil took a step forward in protecting the Amazon rainforest, starting satellite surveillance of the cattle ranches that are among the chief culprits in the forest’s destruction (Reuters).

AGRICULTURE

Brazilian authorities have approved the use of a new genetically-modified soy seed which was developed jointly by BASF and state agricultural researchers in the world’s No. 2 soy exporter (Reuters).

Sugar output in Brazil, the world’s largest producer, will rise to a record after declining supplies from India boosted demand for sweetener from the South American country, the government said (Bloomberg).

FINANCE

BTG Pactual, the securities firm led by Andre Esteves, is set to launch a private equity-backed Brazilian infrastructure fund, to take advantage of massive road, port and dam projects (Reuters).

OIL

Brazil’s lower house of Congress has approved the second of four bills designed to overhaul the country’s oil legislation and give the government greater control over vast new offshore reserves (Reuters).

Brazil’s Petrobras expects to raise more than $10 billion in a sale of shares it is planning as part of an ambitious expansion effort, the company’s Chief Executive Jose Sergio Gabrielli said (Reuters).

Brazil’s oil giant Petrobras said tests confirmed that Iara oil field, off the coast of the state of Rio de Janeiro, contains a potential of 3 billion to 4 billion barrels of oil equivalent (Reuters).

TELECOM

Spain’s Telefonica plans to spend more than 2 billion reais ($1.14 billion) in Brazil next year, compared with expected capital expenditures of 2.4 billion reais earmarked for 2009, the chief executive of its Brazilian unit Antonio Carlos Valente said (Reuters).

Angola news update, December 14th

In Airports, Angola, Banking, Elections, Mining, Oil, Politics, South Africa, Travel on December 14, 2009 at 6:36 pm

POLITICS

Angolan President Jose Eduardo dos Santos signalled the oil-producing nation’s first post-war presidential elections, scheduled for 2009, would have to wait at least another three years (Reuters).

Angola plans to halve the number of nationals living on a dollar or less a day by 2015, Radio Nacional de Angola reported, citing Diogenes de Oliveira, head of parliament’s finance committee. Around 60 percent of the oil-rich nation’s 18 million people live below the poverty line, President Jose Eduardo dos Santos said last week, accusing “irresponsible” officials of squandering state resources (Bloomberg).

OIL

Angola’s national oil company Sonangol won deals to develop two oilfields in one of Iraq’s most dangerous provinces (Reuters).

Marathon Oil Corp. the fourth- largest U.S. energy producer, agreed to sell a 20 percent working interest in Block 32 off the coast of Angola to that country’s state-owned oil company for $1.3 billion (Bloomberg).

The China Petroleum and Chemical Corp (Sinopec), one of Asia’s largest oil refiners, may be granted an oil field in Angola by its parent company China Petrochemical Corp (Sinopec Group), the China Business News newspaper reported (Macauhub).

BANKING

Portugal’s second-largest listed bank Banco Espirito Santo said it agreed to sell a 24 percent stake in its Angolan unit for around 254 million euros ($375 million) (Reuters).

Standard Bank, Africa’s biggest lender by assets, said its Angolan unit will start operations next year with capital of $50 million (Bloomberg).

South Africa’s First National Bank (FNB) has decided to expand into the Angolan market, and is waiting for approval from the Luanda authorities to open a representative office (Macauhub).

MINING

The state-run diamond company, Endiama EP, aims to produce gems without foreign support. “We need to produce our diamonds ourselves,” chairman Sumbula said. The company’s partners include De Beers, which produces about 40 percent of the world’s diamonds. Endiama also aims to “make profits for the state” and is now engaged “classifying” its staff to see “what each can offer the company,” the Luanda-based company said (Bloomberg).

AIRPORTS  AND TRAVEL

The runway at Luena airport in Angolan province of Moxico, was re-opened  after work that began in May 2007 was concluded by Chinese construction company Sinohydro Corporation to extend the runway from 2,400 metres to 3,350 metres and a width of 60 metres (Macauhub).

The new Lubango international airport, in the capital of Angola’s Huila province, is due to be handed over within the next few days, the head of the company responsible for inspecting the project told Angolan news agency Angop (Macauhub).

Cape Verde news update, December 6th

In Airports, Banking, Cape Verde, Economy, Elections, Politics, Ports, Security, Tourism, Travel on December 6, 2009 at 3:46 pm

AIRPORTS & TRAVEL

São Pedro Airport on the island of São Vicente received a test flight of TACV Cabo Verde Airlines’ Boeing 757-200 at 2:20 pm December 4. This is one of the final tests in the audit being carried out by the Civil Aeronautics Agency (AAC) prior to allowing the airport to open for international flights (A Semana).

The financial directorships of TACV Cabo Verde Airlines and Airport and Air Security company ASA reached an accord on the night of Monday, November 30, to overcome the impasse regarding the payment of the flagship airline’s debt to the airport management company, estimated at more than 1.3 billion escudos. TACV has promised to pay more than 10 million escudos per month to ASA (A Semana).

PORTS

The process of privatisation of Cape Verde’s port services is due to be concluded in June, 2010, the manager of the Programme for Regulation and Privatisations in Cape Verde said in Praia. The ports of Praia and Mindelo are due to be handed over to two concession-holders, whilst the port of Palmeira will have just one concession (Macauhub).

HEALTH

Cape Verde’s Minister of Health, Basílio Mosso Ramos, announced that Cape Verde had registered 272 new cases of AIDS in 2008, indicating a stabilization in the number of new infections in the archipelago. Cape Verde’s seroprevalance is 0.8% (A Semana).

POLITICS

The president of opposition party MpD, Carlos Veiga, will be a special guest at the congress of the European People’s Party (PPE) in Bonn, Germany between December 8 and 10. The party is a member of the Centrist Democrat International, of which the MpD is also a part. The meeting’s host will be German Chancellor Angela Merkel (A Semana).

FINANCE

Eight microfinance institutions undergo training in the realm of data base normalization. The course, which is being supported by the Millennium Challenge Account – Cape Verde, is aimed at raising the entities’ capacities in order for them to be able to normalize their data bases, thus making it easier for them to migrate to a new system in the future. The course will be administered by a consultant from Planet Finance – Brazil, Ricardo Linder, and will take place at the National Administration and Management Institute (INAG) (A Semana).

SECURITY

After several months of relative calm, thieves have once again begun attacking tourists on the beaches of Boa Vista. Local police have registered robberies victimizing tourists on the beaches of Estoril, Chaves and Cabo de Santa Maria (A Semana).

Cape Verde news update, November 29th

In Airports, Banking, Cape Verde, Economy, Energy, Infrastructure, Telecom, Tourism, Travel on November 29, 2009 at 9:45 pm

ECONOMY

The government has proposed the elaboration of partnerships with the private sector to create management corporations for water and electricity utility Electra on an island-by-island basis (A Semana).

The Bank of Cape Verde (BCV) is expecting a “slight recovery” of the economy in 2010, with gross domestic product (GDP) growth of between 4 and 5 percent, after “continues slowdown” due to an “unfavourable international climate” (Macauhub).

The government of Cape Verde wants to turn the Archipelago into a “cybernetic island” and to do this will be supported by India, specifically in creating a technological hub, Cape Verde’s Foreign Affairs Minister said in Praia (Macauhub).

BANKING

Banco Interatlântico has opened its first branch on the island of Santiago outside of the city of Praia. The new branch, in the city of Assomada, is its eighth in the country. The central region of the island of Santiago has grown economically over the past several years, and is now third in the growth ranking in Cape Verde, following the city of Praia and the island of São Vicente (A Semana).

TRAVEL

Cape Verde is currently under the influence of a zone-specific anti-cyclone flow that is favoring the transportation of dust from the coast of Mauritania to the archipelago. The phenomenon, known in Cape Verde as “dry haze,” has led TACV Cabo Verde Airlines to cancel flights from the island of Sal to other islands (A Semana).

Cape Verde’s airline has become a fully-fledged member of the International air Transport Association (IATA), the company’s commercial director said (Macauhub).

Brazil news update, November 22nd

In Brazil, Elections, Hotels, Investments, Oil, Politics, Tourism, Travel on November 23, 2009 at 8:39 pm

POLITICS

Whoever wins, Brazil should remain in capable hands after its presidential election. Read the analysis in The Economist’s The world in 2010

Iranian President Mahmoud Ahmadinejad arrived in Brasilia seeking support for his controversial nuclear program, the first leg of a South American tour that critics say could dent Brazil’s ambitions on the global diplomatic stage (Reuters).

Brazil will have created 1.3 million payroll jobs by the end of 2009, President Luiz Inacio Lula da Silva said, as Latin America’s largest economy recovered from a brief recession (Reuters).

The U.S. is responsible for the crisis in the Middle East and shouldn’t be coordinating peace talks for the region, Brazilian President Lula said. Negotiations between Israel and the Palestinians ought to be managed by the United Nations, Lula said in an interview today with two local radio stations in Salvador, Bahia state, where he met Palestinian Authority President Abbas (Bloomberg).

INVESTMENT

Ford Motor Co unveiled plans to invest 4 billion reais ($2.26 billion) to boost output in Brazil as record-low borrowing costs and a rapid economic recovery in Latin America’s largest country stoke demand for new cars (Reuters).

ArcelorMittal is seriously considering a feasibility study for a new steel plant in Brazil as it sees strong prospects for demand there, a senior executive said (Reuters).

Mozambique has signed two accords with Brazil for a $6 billion investment in biofuel exploration, the daily independent O Pais reported, citing António de Godoy, chairperson of the Brazilian confederation of biofuel companies Arranjo Produtivo Local do Alcool (APLA) (Bloomberg).

Four Seasons and Jumeirah Group plan to open their first hotels in Brazil as rising incomes in Latin America’s largest economy and the 2014 World Cup and 2016 Olympic games generate demand (Bloomberg).

OIL

Brazil’s lower house of Congress approved a law creating a state holding company to manage new projects in the country’s recently discovered “sub-salt” oil reserves. The creation of the company, called Petrosal, is one of four laws sent to Congress by President Luiz Inacio Lula da Silva aimed at boosting state control over the huge oil reserves (Reuters).

SHIPPING

Brazilian iron ore miner Vale said that it was building 16 vessels with a capacity of 400,000 tonnes each to carry iron ore between Brazil and Asia (Reuters).

BUSINESS

Embraer has signed a $177.5 million deal with Oman Air for five 175 aircraft, its chief executive said (Reuters).

Cape Verde news update, November 22nd

In Banking, Brazil, Cape Verde, Economy, Hotels, Investments, Tourism, Travel on November 23, 2009 at 7:56 pm

ECONOMY

The 13th edition of the Cape Verde International Trade Fair (FIC) began on November 18, on the island of São Vicente, with the participation of businesses from Cape Verde, Portugal and Brazil, at a time when the government has expressed its intention to turn the archipelago into a business center for the Middle Atlantic. The nearly one hundred companies occupy a total of 92 stands distributed through two pavilions (A Semana).

BANKING

Macau-based company, Geocapital has become the biggest private shareholder in Cape Verdean bank, Caixa Económica de Cabo Verde (CECV), by acquiring 27.1 percent of its capital, the bank said in Praia (Macauhub).

INVESTMENT

The Spanish hotelier group Sol Meliá has reached an agreement with The Resort Group PLC to manage two new 5-Star Hotel Resorts on the Island of Sal, Cape Verde, under the MELIÁ brand (Hotelnews).

Angola news update, November 15th

In Airports, Angola, Brazil, Investments, Oil, Security, South Africa, Travel on November 15, 2009 at 11:17 pm

INVESTMENT

Portugal’s retail-heavy conglomerate Sonae plans to expand to Angola and open its Continente hypermarkets in the southwest African country, Diario Economico newspaper said (Reuters).

OIL

Brazil’s state-controlled oil company Petrobras said it found oil in deep waters off Angola. The oil, in the Cabaca Norte-1 well, around 350 kilometers (219 miles) north of Luanda, is the second discovery within the 15/06 bloc in which Petrobras has a 5 percent stake (Reuters).

Petrobras is interested in exploring for oil in “deep and ultra-deep” waters off the coast of Angola, the Brazilian Trade and Industry Minister said (Bloomberg).

The chairman of Portuguese oil group Galp Energia said in Lisbon that production has seen a ”strong drive” with the start of production at the Tômbua-Lândana oil field, at which the company expects production of 90,000 barrels of oil per day in 2010 (Macauhub).

SECURITY

Armed Angolan gangs are targeting Chinese workers in “mafia-style” attacks, a construction boss said, creating a climate of fear among the Chinese community in Luanda Read the full story in the Mail & Guardian.

AIR TRAVEL

Angolan national airline Taag launched a direct flight between Luanda and Cape Town, with flights twice a week, Angolan news agency Angop reported (Macauhub).

Angola news update, November 8th

In Airports, Angola, Banking, Economy, Mining, Travel on November 8, 2009 at 1:38 pm

ECONOMY

Angola, which vies with Nigeria as Africa’s biggest oil producer, is seeking to raise $4 billion in the sub-Saharan African region’s largest sale of bonds (Bloomberg).

The Angolan economy will expand by 8.2 percent in 2010 and this will largely be driven by the country’s non-oil sector, Economy Minister Manuel Nunes Junior said (Macauhub).

BANKING

Banco International de Credito of Angola may bid for Portugal’s state-owned Banco Portugues de Negocios SA, Reuters said, citing Fernando Teles, the chief executive officer of the Angolan bank (Bloomberg).

MINING

Angola named Carlos Sumbula chairman of the state-owned National Diamond Company of Angola, known as Endiama E.P, Radio Nacional de Angola reported, without saying where it got the information (Bloomberg).

Agola expelled more than 69,000 illegal immigrants in 2009, Radio Nacional de Angola reported, citing Teresa Silva, chief of the Refugees Department at the country’s Foreign Service. The immigration looks organized as “masses of people” enter the country at once, the broadcaster cited Silva as saying (Bloomberg).

AIR TRAVEL

Portuguese airline TAP, that may be associated with Brazilian airline TAM, sees itself as a future partner for Taag, in the wake of the restructuring underway in the Angolan airline sector, aimed at turning it into a benchmark within Africa (Macauhub).

Cape Verde news update, November 8th

In Airports, Brazil, Cape Verde, Economy, Tourism, Travel on November 8, 2009 at 1:25 pm

TOURISM

With the increase in the number of charter flights to the islands of Sal and Boa Vista, Cape Verde was the tourist destination that showed the highest growth this year, with the number of passengers traveling from Portugal more than doubling. One of the interesting pieces of data revealed is that the number of charter flights to Sal increased despite the new “competition” from Boa Vista (A Semana).

ATLANTICO

Brazilian entrepreneurs are attending this week’s Cape Verde International Fair as the archipelago could offer an opening into African markets, says Ruby Arauju, head of the Brazil-Cape Verde Chamber of Commerce in Brazil’s Ceara state (Macauhub).

ECONOMY

Cape Verde’s Finance minister last week contradicted the International Monetary Fund (IMF)’s forecast about the growth rate of the country’s economy in 2009, saying that her data indicated a 4.5 to 5 percent growth rate (Macauhub).

Surinam news update, November 1st

In Economy, Foreign Trade, Hotels, Investments, Mining, Oil, Surinam, Tourism, Travel on November 1, 2009 at 10:17 pm

A private initiative for the development of Paramaribo’s waterfront received approval from the Surinam government. The Riverside Harbour Village, as the project is known, includes a marina, a new hotel as well as commercial space and a promenade. Though the project still needs some additional financing, the backers, who hail from Surinam, Curacao and the Netherlands, think the Village will be ready by 2015. The project is worth 46 million Euros in investment (De Ware Tijd).

The Surinam Planning Dept annouced economic growth is expected to drop from 5% this year ot just 1% in 2010. The Dept. blames this disappointing outlook among other things on diminishing exports of oil and bauxite (De Ware Tijd).

In a new publication “Best in 2010″ Lonely Planet travel guide recommends Surinam for the top places to go to in 2010 (Reuters).

Follow

Get every new post delivered to your Inbox.

Join 173 other followers