Amazon posted a $2,028 million loss in the second quarter of the year, following a $3.9 billion loss on an investment in electric car maker Rivian. Between April and June, the 'online' retail giant had revenues of $121,234 million, up 7% year-on-year. "Despite the...
Author: José Caetano (José Caetano)
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mKesh and Ecobank sign interoperability partnership
Carteira Móvel, operator of the e-money financial service, mKesh, and Ecobank Moçambique, SA, signed, Thursday July 28 in Maputo, an interoperability agreement, which will allow the clients of both institutions to make value transfers from their bank accounts at Ecobank to the e-money accounts of mKesh and...
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Standard Bank expects acceleration of investments in natural gas exploration in Mozambique
Given the increased need for natural gas production, it is expected an acceleration of investment for the exploration of this resource in a magnitude that helps to generate resources to support Mozambique's macroeconomic stability. The projection was advanced by Fáusio Mussá, Standard Bank?s chief economist, during the conference "Investment in Angola and Mozambique", promoted by...
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Sonangol profit grows to USD 2.1 billion in 2021, best result since 2014
The consolidated net profit of Angolan state oil company Sonangol rose to US$2.1 billion in 2021, the best result in eight years and an increase of 152% compared to the previous year. According to the statement issued today by Sonangol, on the day it published its report and accounts for 2021, it was "a...
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UNHCR to provide basic services to 800 families who were refugees in Malawi
The United Nations High Commissioner for Refugees (UNHCR), will provide basic hygiene and sanitation services and civil identification to over 800 families who were refugees in Malawi, due to floods. The UNHCR/Action Aid Project Officer, Alberto Massara, revealed to Radio Mozambique that funds are already available to provide basic...
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Inhambane. Company abandons tomato production due to lack of market
At a time when the cost of living tends to rise in the country, Agri-Maçaroca, a company dedicated to tomato production in Vilankulo, Inhambane province decided to abandon production due to lack of market. Hen Van, owner of the company, said quoted by Radio Mozambique that the losses arising from the situation, reached more than...
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Modernization of the Port of Maputo could contribute USD 345 million annually by 2058, study says
A study prepared by the consultancy firm Cooningarth Economists, in partnership with Standard Bank, estimates that the modernization and expansion of the Port of Maputo, responsible for over 60% of the Maputo Logistics Corridor (CLM) goods traffic, will result in an annual contribution of about 345 million dollars to the Gross Domestic Product (GDP)...
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Microsoft profit grows below expectations. Only 2% to 17 billion
Microsoft on Tuesday reported a profit for the latest quarter of $16.7 billion (2.23 per share), up 2% year-on-year. Analysts expect 2, 29% per share. According to some international portals, this was one of the rare times that the technology conglomerate disappointed analysts, since, by "norm, it usually even...
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Angola's Quiluma and Maboqueiro fields begin gas exploration in 2026
The exploration of the Quiluma and Maboqueiro fields, in Angola, will start in 2026 with a production of 330 million standard cubic feet per day (mmscf/day), after the Final Investment Decision, announced today by the consortium. "The National Agency of Oil, Gas and Biofuels, Eni and the partners of the New Consortium of...
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AURA and Mossuril district sign agreement for water supply
Autoridade Reguladora de Água (AURA), represented by Suzana Saranga Loforte, and the district of Mossuril by its administrator, Rui Chong, signed the agreement for regulation of the water supply and sanitation service. This partnership aims to create conditions for the economic and financial sustainability of water supply and sanitation service providers in the...