The World Bank Group has cut its 2016 growth estimates for several Portuguese-speaking Countries. In its latest ‘Global Economic Prospects’ report, published this week, the World Bank forecast Brazil’s gross domestic product (GDP) would contract by 4 percent year-on-year in 2016, extending the country’s recession into a third consecutive year. The Washington-based institution had forecast in January that Brazil would record a GDP decline of 2.5 percent in 2016.

China was the largest buyer of Brazilian beef in May, importing a total of 20,280 tonnes, worth US$84.3 million, said the Brazilian Association of Meat Exporters (Abiec).

A subsidiary of Chinese state-run firm China Tiesiju Civil Engineering Group won a US$90-million contract to link 45,000 Angolan households to the electricity grid, local newspaper O País reported this week.

The Government of East Timor wants to simplify the administrative steps regarding the processing of imports and exports, in a bid to speed up overall procedures, Portuguese news agency Lusa reported on Monday.

The aggregate investment of Chinese enterprises in Brazil has reached more than US$10 billion, said Guilherme Belli, head of the trade promotion and investment section at the Brazilian Embassy in China.

Aires Ali has been appointed as the new Ambassador of Mozambique to China. Mozambique’s President Filipe Nyusi appointed Mr Ali last week. He replaces António Inácio Júnior as the African nation’s top diplomatic representative in China, according to an official statement from Mr Nyusi’s office.

Mozambique’s Minister of Agriculture and Food Security, José Pacheco, says grain output for the 2015-2016 harvest is likely to be down 5 percent judged year-on-year.

Café Cazengo, a coffee brand from Angola, will soon export its products to China, Portuguese news agency Lusa reported last week.

Chinese construction firm China Gezhouba Group Co (CGGC) is considering the acquisition of infrastructure assets in Brazil, a senior executive said last week.

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Brazil’s economy shrank 5.4 percent in the first quarter of 2016 compared to the prior-year period; but the contraction was smaller than originally feared, showed data from the Brazilian Institute of Geography and Statistics published on Wednesday.

David Chow, Chief Executive and Co-Chairman of Macau Legend Development, says he will encourage more Chinese businessmen and companies to invest in Cape Verde, in different areas of the economy.