A bill currently under consideration in New York State could reshape sovereign debt renegotiations around the world by making private creditors accept the same losses as the U.S. government would as a sovereign creditor instead of holding out for a full payback.
The bill comes as countries like Zambia and Sri Lanka face their loan renegotiations being dragged out for years as U.S.-based private lenders stonewall to obtain better deals. 52% of the ...
Country: Angola
There May Actually be An Opening for the U.S. to Spur Development of Angola’s Lobito Corridor
When the United States government announced last month that it was in the midst of conducting due diligence for a $250 million financing package to develop the Lobito Atlantic Railway Corridor that connects the copper/cobalt belts in the DRC and Zambia with Angola's Port of Lobito, it raised ...
U.S. Conducting Due Diligence for Development of the Lobito Corridor in Southern Africa Where Chinese Interests Are Already Very Active
The United States government claims it has mobilized $30 billion so far through various public and private channels to build railways, data centers and other infrastructure initiatives in developing countries. The White House released an update on Friday of its ...
China’s Ambassador to Angola Promises President Continued Support for Infrastructure Development
Angolan President João Lourenço met with China's ambassador to Luanda, Gao Tong, on Monday for an update on the progress of several high-profile infrastructure projects that China is developing. Gao reassured the president that the new Luanda international airport, the Caculo-Cabaça hydroelectric facility, and ...
More Evidence of China’s Diminishing Appetite for African Oil
It wasn't that long ago when China sourced a third of its imported oil from three African suppliers that included Angola. Today that figure is down to just 10% and appears to be steadily declining as Chinese buyers shift to sourcing crude from Russia, Persian Gulf countries ...
Vietnamese Authorities Seize Tons of Ivory, Most Likely Bound for China
Vietnamese customs authorities in the northern port city of Hai Phong intercepted a massive seven-ton shipment of illicit ivory that originated in Angola and traveled via Singapore. Inspectors discovered the contraband on Monday after seeing a discrepancy in shipping documents that listed ...
Analysis from Cobus van Staden
Proposed New York Law Could Reshape Debt Negotiations Around the World
New Copper/Cobalt Trade Corridors Take Shape to Serve as Alternative to South Africa
Zambia, the Democratic Republic of Congo, and Angola will set up an agency to manage a logistics corridor linking them to Angola’s Lobito port. The move comes as South Africa's Durban port has faced repeated delays.
Angolan Police Arrest 8 in Raid on Chinese-run Bitcoin Mining Operation
Eight Chinese nationals were arrested and servers and other equipment were seized by Angolan authorities during a raid on a Chinese-led illegal bitcoin mining operation hidden in a brick factory in Kwanza Norte Province. (AFRICAN OVERSEAS CHINESE NEWS - in Chinese)
Chinese FM Qin Gang Wraps Up Africa Tour in Egypt
Qin Gang concluded his first tour of Africa as Foreign Minister on Sunday in Cairo, where he met separately with his counterpart Sameh Shoukry, President Abdel Fattah el-Sissi and Arab League Secretary-General Ahmed Aboul-Gheit. Since Friday, Qin traveled to Benin, Gabon and Angola. ...
Angola is Now a New Front in the U.S.-China Technology Duel
Technology, not oil, emerged as a key focus of Chinese Foreign Minister Qin Gang's brief visit to Angola on Friday. Qin visited Huawei's new $80 million technology park in the capital Luanda and later oversaw a signing ceremony with Finance Minister Vera ...
China-Linked Group Will Run Angolan Transport Corridor
The Angolan government has signed a $450 million agreement with the Portuguese infrastructure group Mota-Engil to run rail and logistics in the Lobito Transport Corridor, which connects Lobito Port to the mining zone in the southern Democratic Republic of Congo.