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APS - Algeria will continue to be a driving force for peace, stability in Africa
ORAN(Algeria)-The ministry of Foreign Affairs and National Community Abroad, Ramtane Lamamra, said Wednesday that Algeria would continue its role as...
APS - Air Algerie: Three new domestic flights to make Algiers airport global hub
ALGIERS- National airline Air Algeria said Wednesday in a statement that it had launched three new domestic flights from Annaba,...
APS - Tosyali steel complex : Over USD800 million of exports in nine months
APS-ORAN(Algeria)- Tosyali steel complex of Bethioua, Oran (432-km west of Algiers) has exported more than USD800 million of goods over...
NNA - Lancement du concours de nouvelles « Le Liban de nos Rêves »
ANI- L’AUF Moyen-Orient et la Banque BEMO, en partenariat avec le Ministère de l’Éducation et de l’Enseignement supérieur et avec...
NNA - كلية طب الأسنان في اللبنانية تحصل على الاعتماد الأكاديمي لعدد من شهاداتها من المجلس الأعلى لتقييم البحوث والتعليم العالي الفرنسي (HCERES)
وطنية - منح المجلس الأعلى لتقييم البحوث والتعليم العالي الفرنسي(HCERES) كلية طب الأسنان في الجامعة اللبنانية شهادة الاعتماد الأكاديمي لأربعة من برامجها، وذلك لمدة خمس سنوات اعتبارًا من عام 2022....
SANA - Le vice-premier ministre omanais examine avec l’ambassadeur Miyya les relations bilatérales et les moyens de les renforcer
Mascate-SANA/Le vice-premier ministre omanais pour les Affaires de la Défense,Shihab bin Tarik bin Taimur Al Saïd, a passé en revue...
SANA - Miqdad examine avec Pedersen les derniers développements de la situation en Syrie et dans la région
Damas–SANA/Fayçal Miqdad, ministre des Affaires étrangères et des Expatriés, a reçu aujourd’hui Geir Pedersen,l’envoyé spécial de l’ONU pour la Syrie...
APS - الجزائر ستواصل الاضطلاع بدورها كقوة فاعلة من أجل السلم والاستقرار في إفريقيا
واج -وهران- أكد وزير الشؤون الخارجية والجالية الوطنية بالخارج، رمطان لعمامرة، اليوم الأربعاء بوهران أن الجزائر ستواصل الاضطلاع بدورها كقوة فاعلة من أجل السلم والاستقرار في إفريقيا وتقديم دعمها الكامل...
APS - الخطوط الجوية الجزائرية: اطلاق 3 رحلات داخلية من اجل جعل مطار الجزائر قطبا عالميا
واج-الجزائر-اعلنت الخطوط الجوية الجزائرية اليوم الاربعاء في بيان لها, عن اطلاق(3) ثلاث رحلات داخلية انطلاقا من عنابة و وهران و قسنطينة باتجاه الجزائر العاصمة, وذلك بهدف جعل مطار هواري بومدين...
APS - مركب الحديد والصلب 'توسيالي' لوهران: تحقيق صادرات تتجاوز 800 مليون دولار خلال التسعة أشهر الأولى ل 2022
واج - وهران - حقق مركب الحديد والصلب 'توسيالي' الكائن ببطيوة(ولاية وهران) عائدات تصدير تجاوزت 800 مليون دولار خلال التسعة أشهر الأولى لسنة 2022، حسبما علم اليوم الثلاثاء لدى المركب....
NNA - Awareness campaign by the national commission for Lebanese women
NNA - The National Commission for Lebanese Women (NCLW) launched an awareness campaign in partnership with the Deutsche Gesellschaft für...
SANA - نائب رئيس الوزراء العماني يبحث مع السفير ميا العلاقات الثنائية وسبل تعزيزها
مسقط-سانا - استعرض شهاب بن طارق بن تيمور آل سعيد نائب رئيس الوزراء لشؤون الدفاع العماني مع سفير سورية لدى سلطنة عمان الدكتور إدريس ميا اليوم سبل تعزيز العلاقات الثنائية...
SANA - الوزير المقداد يلتقي بيدرسون والحديث يدور حول تطورات الوضع في سورية والمنطقة
دمشق-سانا- استقبل الدكتور فيصل المقداد وزير الخارجية والمغتربين اليوم غير بيدرسون المبعوث الخاص للأمين العام للأمم المتحدة إلى سورية والوفد المرافق له، حيث استعرض الجانبان آخر التطورات ذات الصلة بالوضع...
APS - L'Algérie poursuivra son rôle de force agissante pour la paix et la stabilité en Afrique
APS-ORAN- Le ministre des Affaires étrangères et de la Communauté nationale à l’étranger, Ramtane Lamamra, a souligné, mercredi à Oran,...
APS - Air Algérie: lancement de 3 vols domestiques en vue d'ériger l'aéroport d'Alger en hub mondial
APS-ALGER-La compagnie aérienne nationale,Air Algérie, a annoncé mercredi dans un communiqué, le lancement de trois (3)vols domestiques à partir d'Annaba,...
APS - Complexe sidérurgique Tosyali d'Oran: réalisation de plus de 800 millions USD d’exportations en 9 mois
APS-ORAN-Le complexe sidérurgique Tosyali de Béthioua(Oran) a réalisé plus de 800 millions USD d’exportations durant les neuf mois de l’année...
NNA - 'عَ مفرق طريق' للارا سابا كوميديا رومانسية عائلية تنطلق في 15 الحالي عودة إلى القيَم بضحكة "راقية ونظيفة"و"لبنان الجمال" نقيض لبشاعة الزمن
وطنية - أقيم العرض الخاص بالصحافيين لفيلم "ع مفرق طريق" في "غراند سينما" -ABC- الاشرفية، في حضور مخرجة الفيلم لارا سابا وكاتبة النص جوزفين حبشي وحشد اعلامي وناقدين سينمائيين. ...
NNA - ثلاث ميداليات فضية للرباعين اللبنانيين في بطولة الماسترز لرفع الاثقال في اورلاندو في فلوريدا
وطنية - ثلاث ميداليات فضية بلغت حصة لبنان في بطولة العالم للماسترز برفع الاثقال التي اقيمت في مدينة اورلاندو بولاية فلوريدا في الولايات المتحدة الاميركية.
وتمكن الرباعون اللبنانيون اليوم الاثنين،...
SANA - Syria, Oman discuss latest developments and relations
Muscat,SANA-Deputy Prime Minister for the Omani Defense Affairs, Shihab bin Tareq bin Taimur Al Said discussed with Syria’s Ambassador to...
SANA - Mikdad ,Pedersen discuss latest developments
Damascus,SANA-Foreign and Expatriates Minister,Dr.Fayssal Mikdad on Wednesday met the UN Special Envoy for Syria Geir Pedersen and the accompanying delegation...
Lusa - Business News - Portugal: Iberdrola aiming to invest €3M in country 'under current PM' - CEO
Alcochete,Portugal, Dec.7,2022(Lusa)-The CEO of Iberdrola, Ignacio Galán, announced on Wednesday that the Spanish utility plans to invest some €3 million...
Lusa - Business News - Guinea-Bissau: President stresses potential of fisheries sector to fight poverty
Bissau,Dec.7,2022(Lusa)-The president of Guinea-Bissau, Umaro Sissoco Embaló, on Wednesday highlighted the need for the population to use the fisheries sector...
CNA - سفارة الإمارات في نيقوسيا تنظم ندوة نقاشية حول دور المرأة في التخفيف من آثار تغير المناخ
نظمت سفارة الإمارات في نيقوسيا ندوة نقاشية بمشاركة وزارة خارجية جمهورية قبرص لتسليط الضوء على دور المرأة في عملية صنع القرار لمكافحة تغير المناخ وبناء مستقبل مستدام. ...
CNA - Any recession is expected to be mild and short-lived, CBC Governor says at Bloomberg Global Regulatory Forum
Constantinos Herodotou, Governor of the Central Bank of Cyprus, talked about the ECB objective and actions to restore and stabilise...
Lusa - Business News - Portugal': Government approves rules for future use of bodycams by police
Lisbon,Dec.7,2022(Lusa)-Portugal's government on Wednesday approved for the first time rules for the use of bodycams by officers in the PSP...
CNA - الرئيس أناستاسياديس يشارك في قمة دول الاتحاد الأوروبي التسع المطلة على المتوسط في إسبانيا
يتوجه رئيس الجمهورية نيكوس أناستاسياديس يوم غد الخميس إلى إسبانيا بدعوة من رئيس الوزراء الإسباني للمشاركة في قمة دول الاتحاد الأوروبي التسع المطلة على البحر الأبيض المتوسط التي ستعقد في...
CNA - الرئيس اناستاسياديس يعمل على مبادرة بشأن قبرص بمشاركة الاتحاد الأوروبي
قال الرئيس نيكوس أناستاسياديس اليوم الأربعاء إنه يعمل على مبادرة بمشاركة الاتحاد الأوروبي لتجنب أي أمر واقع تركي جديد على الجزيرة ولتهيئة ظروف تسوية المشكلة القبرصية قبل الانتخابات في قبرص...
Lusa - Business News - Mozambique: Judge in 'hidden debts' case rules defendants to forfeit property
Maputo,Dec.7,2022(Lusa)- The court in Maputo handling the trial relating to Mozambique's 'hidden debts' on Wednesday ruled that the state should...
Lusa - Business News - Portugal: Minister pledges more aid on drought, inflation; EU action also needed
Madrid,Dec.7,2022(Lusa)- Portugal's minister of agriculture said on Wednesday that the country will continue to adopt measures to alleviate the effects...
Lusa - Business News - Mozambique: Ex-president's son, two others ordered to pay $2.8B to state
Maputo, Dec.7,2022(Lusa)- The judge in Mozambique's 'hidden debts' case on Wednesday sentenced the eldest son of former president Armando Guebuza...
CNA - EMFG Ministerial Meeting in Cairo approves Cyprus proposal to set up permanent advisory body
Energy Ministers of the member states of the East Mediterranean Gas Forum (EMGF) agreed on Wednesday on the proposal of...
Lusa - Business News - Cabo Verde: Economic growth above 8% 'almost certain' - PM
Praia,Dec.7,2022(Lusa)-The prime minister of Cabo Verde, Ulisses Correia e Silva, promised in parliament on Wednesday that it is "almost certain"...
Lusa - Business News - Cabo Verde: Opposition criticises government's poor attention to private sector
Praia, Dec. 7,2022 (Lusa) - Cabo Verde's opposition criticised in parliament on Wednesday the government's attention to the private sector...
Lusa - Business News - Portugal: Retail giant gives staff up to €500 bonus as inflation bites
Porto,Dec.7,2022(Lusa)- Portugal's Modelo Continente supermarket chain will pay extraordinary support of up to €500 to workers this month to mitigate...
CNA - Employment increased by 3% on Q3, 2022, according to provisional estimate
Total employment for the 3rd quarter of 2022 increased by3%,compared to the corresponding quarter of 2021, according to a provisional...
Lusa - Business News - Portugal: Forty-eight cases related to Black Friday discounts
Lisbon, Dec.7,2022(Lusa) - Portugal's Food and Economic Safety Authority (ASAE) announced on Wednesday that it had filed 48 administrative offence...
Lusa - Business News - Cabo Verde: Government, UN pleased with cooperation programme progress
Praia, Dec.7,2022(Lusa) - The United Nations and Cabo Verde positively evaluated the implementation of the latest cooperation programme on Wednesday,...
Lusa - Business News - Portugal: EDP 'comfortable' with higher interest rates - CEO
Singapore, Dec. 7, 2022 (Lusa) - Portugal's power utility EDP is "comfortable" in terms of financing to face a period...
Lusa - Business News - Sao Tome: No financial reserves for early 2023 - PM interview
Lisbon,Dec.7,2022(Lusa)-Sao Tome and Principe has no guaranteed financial reserves for the first quarter of 2023, the prime minister, Patrice Trovoada,...
Lusa - Business News - Portugal: TAP crew strike main points
Lisbon,Dec.7,2022(Lusa)-TAP crew members have decided to maintain their strike on Thursday and Friday, called by the National Civil Aviation Flight...
CNA - الرئيس أناستاسياديس يحضر حفل استقبال الأمم المتحدة في ليدرا بالاس
يحضر رئيس الجمهورية نيكوس أناستاسياديس اليوم الأربعاء حفل استقبال مع الزعيم القبرصي التركي إرسين تاتار تستضيفه الأمم المتحدة.
يقام حفل الاستقبال في ليدرا بالاس في المنطقة العازلة من قبل الممثل الخاص...
Lusa - Business News - Portugal: Stock market opens down a quarter percent at 5,838.53 points
Lisbon,Dec.7,2022(Lusa)- The Lisbon stock market opened in negative territory on Wednesday, with the PSI index losing 0.24% to 5,838.53 points...
Lusa - Business News - Portugal: Top newspaper, news magazine headlines on Wednesday, 7 December
Lisbon, Dec.7,2022 (Lusa) - Portugal's 6-1 win over Switzerland in the World Cup features on many front pages this Wednesday....
Lusa - Business News - Cabo Verde: Water, power company needs €3.2M for treasury




Praia, Nov.23,2022(Lusa)-Cabo Verde's state-owned water and electricity company, Electra, will go into debt of €3.2 million, with a state guarantee, due to cash-flow problems, according to the government, which plans to privatise it.
The decision is contained in a resolution approved by the cabinet, consulted by Lusa, and that came into force today, stating that Electra "faces serious economic and financial problems, as a result of the impacts of the international crisis caused by the rise in fuel prices, causing great pressure on its cash flow.
To "overcome this financial situation," the document said, Electra decided to resort to bank financing to the value of 360 million escudos (€3.2 million) "to meet commitments with suppliers to maintain the company's operations and to maintain the power plants.
"This funding also allows the company to manage its cash, avoiding disruption in terms of payments, as well as energy production and the continuity of services provided to the population of Cabo Verde," it said.
It added that the state, as a company shareholder, "recognises the obvious importance of supporting the company in mobilising these financial resources" by providing a state guarantee to ensure total funding to be provided by Ecobank Cabo Verde, valid for seven years, the maturity period of the loan.
Last September, another guarantee had been approved for a loan to Electra to deal with pressure caused by the energy crisis, from Cabo Verde's Caixa Económica (CECV), for 1.08 billion escudos (€9.7 million).
The government in July approved the creation of three companies for production and distribution of electricity, as a result of the shutdown of Electra subsidiaries and its spin-off, scheduled for next January.
The decree-law follows the privatisation process of Electra - previously announced by the government in the component of production and distribution of electricity - and authorises the creation of Empresa de Produção de Eletricidade de Cabo Verde (EPEC SA), Empresa de Distribuição de Eletricidade de Cabo Verde (EDEC SA) and the Operador Nacional do Sistema Elétrico de Cabo Verde (ONSEC SA), as a result of the split of Electra SA.
The spin-off of Electra SA into the three new companies, which still depends on the formalisation of the decisions of the respective general meetings, among other legal steps, is scheduled for 1 January 2023, according to the same law.
According to the report and accounts, Electra's losses doubled in 2021 to 1.338 billion escudos (€12.2 million), while customer debts rose to 11.92 billion escudos (€108.8 million).
The same document indicates that customer debts - which the company describes as the biggest problem it faces in management - increased by 5.2% compared to 2020.
The Electra group includes subsidiaries Electra Sul and Electra Norte, which will be "extinguished," and also includes the "spin-off of Electra SA, with which the government decided to start the privatisation process, which follows from this decree," the document said.
Cabo Verde wants to privatise or grant concessions by 2026 to nine public sector companies, from telecommunications and transport to banking, according to a cabinet resolution that revokes the previous list, from 2017, with over twenty.
According to the government resolution of 16 November, the new list of companies in the Public Business Sector "liable for privatisation/partial sale/licensing/concession" or public-private partnerships now includes the Caixa Económica de Cabo Verde bank, one of the largest in the country.
The Cabnave shipyard, CV Handling and TACV airline, which was privatised in 2019 and renationalised in 2021 due to the consequences of the Covid-19 pandemic, as well as the Cabo Verde Telecom group, remain on the list, compared to the list approved five years ago.
Also remaining on the list of privatisations or concessions that the government intends to complete in the period from 2022 to 2026 are the state-owned company managing the archipelago's ports Enapor, the medicines and pharmaceutical products company Emprofac, as well as the electricity and water production companies Electra and Águas e Energia da Boa Vista.
The list approved in 2017 contained 23 entities, such as the ASA company, which manages the country's airports, whose activities were awarded to the Vinci group, the Enacol oil company, whose participation by the Cabo Verdean state has since been sold, the Cabo Verde Hotel and Tourism School or the Tourism Development Society of the islands of Boavista and Maio.
PVJ/ADB // ADB.
Lusa


Agency : LUSA

Date : 2022-11-24 00:18:00







 

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