Brazil’s Finance Minister says the worst is over for the country’s economy, which has been in recession for two years, with the government forecasting growth in the first quarter.

The Angolan government has awarded a US$243-million contract to China National Electronics Import and Export Corp. to manage the country’s identification card system, Lusa reports.

Chinese company Guangxi International Construction Engineering Co., Ltd and Li Tyen Development SA will develop two 17-floor towers in East Timor, creating the nation’s first skyscraper, Lusa reports.

Foreign direct investment in Mainland China was worth 813 billion yuan (US$118 billion) last year, 4.1 percent more than the year before, Xinhua reports.

The International Monetary Fund has increased the rate of growth it forecasts for the Chinese economy this year to 6.5 percent from 6.2 percent, Bloomberg reports.

The Macao SAR Government is willing to have more exchanges and co-operate more closely with Brazil in the field of the law, Jornal Tribuna de Macau reports.

The value in renminbi of Chinese merchandise exports fell to 13.84 trillion yuan (US$2 trillion) last year, 2 percent less than the year before, while the value of imports rose by 0.6 percent to 10.49 trillion yuan, Xinhua reports.

Economic activity in Brazil was 0.2 percent greater in November than the month before, Reuters reports. The news agency, citing the Brazilian central bank’s latest IBC-Br index, says the growth in activity was due to increased retail sales.

China Road and Bridge Corp has expressed interest in taking part in building a deep-water port and in modernising an airport in São Tomé and Príncipe, Macauhub reports.

Mainland China plans to send a medical team to São Tomé and Príncipe next month, Macauhub reports. The website quotes Ministry of Health official Yong Feng as saying a reconnaissance of hospitals and other healthcare facilities would identify the needs of the mission but dentistry, cardiology and general surgery were among the priorities.

Protectionism and sluggish demand means trade will remain “complicated” this year according to the Chinese Ministry of Commerce.

China’s economy will grow by 6.5 percent this year according to the World Bank in its Global Economic Prospects report.