Americo Amorim News
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Banco BIC SA, Angola’s biggest private bank by branches, plans to open offices in Namibia and South Africa as it considers further regional expansion.
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Banco BIC SA, Angola’s biggest private bank in terms of branches, has $760 million to expand its network and carry out an acquisition in Brazil, Chief Executive Officer Fernando Teles said.
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Galp Energia SGPS SA rose the most in almost five months in Lisbon trading after Amorim Energia BV and Eni SpA agreed on the price for a 5 percent stake in Portugal’s biggest oil company.
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European stocks were little changed as investors assessed conflicting reports about the progress of U.S. budget negotiations aimed at avoiding automatic tax increases and spending cuts from coming into force next year.
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European stocks advanced for a second day as companies from Apple Inc. to Swedbank AB and Electrolux AB reported earnings that beat estimates.
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Banco Popular Espanol SA will seek to raise as much as 2.5 billion euros ($3.2 billion) from a stock sale and suspend its October dividend as the Spanish bank tries to cover a shortfall found in stress tests. The shares plunged.
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Angolan state oil company Sonangol EP and Angolan investor Isabel dos Santos want to have a direct stake in Galp Energia SGPS SA of between 8 percent and 16 percent and are willing to reduce their holding in Amorim Energia BV, Diario Economico reported, citing an unidentified person close to the Angolan investors.
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Galp Energia SGPS SA, Portugal’s biggest oil company, said third-quarter profit rose 58 percent as output from its Brazilian projects increased.
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Banco Popular Espanol SA plans to sell as much as 2.5 billion euros ($3.2 billion) of discounted shares as the Spanish lender bids to close a capital shortfall.
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Eni SpA is discussing the sale of a portion of its 33 percent stake in Portuguese oil producer Galp Energia SGPS SA to Angola’s Sonangol EP, a person with knowledge of the matter said.
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