Weekly news

17/08/2009 to 23/08/2009

All last week’s China Africa developments below: 

* Nigeria’s External Trade Hits N2.21tr- This Day (NGA)
Nigeria’s total trade figure for the second quarter of this year has been put at N2, 210.3 trillion. Full Story.

* VP invites more Chinese investors- Standard (KEN)
Vice President Kalonzo Musyoka has called for more Chinese investors, especially in infrastructure and energy sectors. Full Story.

* In defence of China’s record- Daily Nation (KEN)
Lately, Chinese contractors in Kenya have attracted attention as per articles titled “Chinese snap up huge contracts” on June 23 and “Let’s go beyond lowest–bidder policy with Chinese contractors” on July 22. Full Story.

* China awards scholarships to 75 Ghanaians- Ghana Web (GHN)
Mr Wang Lushan, Charge d’Affaires of the Chinese Embassy, on Tuesday pledged the Chinese Government’s commitment to provide scholarships, training courses and other forms of assistance to Ghana. Full Story.

* Sinopec completes takeover- Business Report (ZAF)
Sinopec Group had completed its $7.5 billion (R61bn) acquisition of Addax Petroleum, obtaining new reserves in Africa and the Middle East in China’s biggest foreign corporate takeover to date, the group said yesterday. 
Full Story.

* China and Congo change tack on deal- Financial Times (GBR)
China and the Democratic Republic of Congo have agreed to amend the terms of the biggest Chinese investment deal in Africa, which had been blocking Congo’s access to much-needed debt relief, the International Monetary Fund has said. Full Story.

* Benefiting from China’s new scramble for Africa- Business Day (ZAF)
The global economic crisis will shift the centre of economic gravity away from the west towards the east — and now the growth pendulum is hanging over China, emerging markets researcher and strategist Martyn Davies said on Friday. 
Full Story.

* Chinese group invests in Angola- Business Report (ZAF)

China’s Sinohydro Corporation had invested $2.4 billion (R19.5bn) to rebuild infrastructure in Angola since the end of the country’s civil war in 2002, a company spokeswoman said yesterday. Full Story.

* Chinese investor employs 820 former Luanshya miners- Lusaka Times (ZAM)
China Non-Ferrous Metals Company (CMNC) has employed 820 former miners on six months contract basis before actual production resumes. Full Story.

* Chinese company to participate in building social infrastructure- Journal de Angola (AGO)
The Chinese company engineering construction Sinohydro Corporation reached this year in Angola, an investment valued at 2.4 billion dollars invested in construction and rehabilitation of various social infrastructure and economic, said Saturday in Beijing, their manager for the area of communication, Danielle Cris. Full Story.

* Chinese carrier to operate direct flights between Beijing and Khartoum- Sudan Tribune (SDN)
A Chinese private carrier, Juneyao Airlines, will operate for the first time direct flights between Beijing and Khartoum, a Sudanese official said today. Full Story.

* Workers complain against abusive Chinese Contractor- Lusaka Times (ZAM)
Itezhi-tezhi High School construction workers yesterday staged a protest at the District Commissioner’s office over alleged beatings and other bad conditions which a Chinese company has subjected them to. Full Story.

* Tanzania to redraw railway concession- The East African (KEN)
The government is seeking ways to recapitalise Tanzania Railways Ltd and inject more than $39.3 million to revamp the ailing Tanzania-Zambia Railway Authority. Full Story.

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