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Angola to deepen bilateral cooperation with Nigeria

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Angola to deepen bilateral cooperation with Nigeria

Angola has declared the readiness to deepen its bilateral cooperation with Nigeria.

Téte António, Minister of Foreign Affairs of Angola, made this known to the News Agency of Nigeria (NAN) during his visit to Nigeria on Wednesday in Abuja.

António was in Nigeria to deliver the Angolan President, João Lourenço’s invitation to President Bola Tinubu for the regular bilateral and multilateral consultations of African leaders slated for November in the Southern African country.

According to António who met with Yusuf Tuggar, Nigeria’s Minister of Foreign Affairs, Lourenço’s message has been delivered through Tuggar, to Tinubu.

“I do not know what is written, but I discussed with my counterpart. We talked about bilateral relations between Angola and Nigeria.

“We discussed how we will like to boost the diplomatic relations, in terms of the cooperation existing between our two countries, including the legal institutions we signed in the past.

This will enable both countries “to see how we are implementing them and to see which new ones we have, and we can bring in again.

It will also help on “how to create suitable environment for business people to ba a part of this bilateral ties existing between Angola and Nigeria.

“As ministers of foreign affairs and external relations, we discussed the peace and security situations in the Sahel and other parts, including Central Africa, Greek lakes and Sudan.”

He mentioned that such were actually challenges for the continent, as well as constitutional changes that happened in West Africa and recently, in Gabon.

He explained that their discussion centered on multilateral issues and on ways both countries could support each other in Angola-Nigeria multilateral systems.

“Bearing in mind that a very good relationship exists between our countries, we actually have duties as ministers of foreign affairs to deepen ties.

“We also discussed ways we can make diplomatic relations of Angola and Nigeria not only matter of diplomats and politicians, but matter of people, including the business community.

“We have a very vibrant Nigerian economy in Angola which is very active in helping the country to rebuild itself of 27 years of war and they are contributing a lot.

“We are certainly going to work closely together, to also make sure we facilitate tackling issues such as the visas for business to business community.

“Certainly, in our next meeting we will plan; today we have discussed the joint commission, this is where we go and review everything, also for business forum between Angola and Nigeria,” he said.

The envoy assured of the provision of suitable environment for business communities to interact and encourage people to know more of each other’s national interests.

The Angolan minister, however, allayed fears about differences in language between the two countries as communication barrier.

He said: “We can always find a common language to speak and the common language are the ties.”

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Putin Registers As Candidate For Russia’s Next Presidential Election

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Russia on Monday officially recognised Vladimir Putin as a candidate for the presidential elections in March, a vote that he is all but certain to win.

The 71-year-old has led Russia since the turn of the century, winning four presidential ballots and briefly serving as prime minister in a system where opposition has become virtually non-existent.

The Central Election Commission said it had registered Putin, who nominated himself, as well as right-wing firebrand and Putin-loyalist Leonid Slutsky as candidates for the vote.

The election will be held over a three-day period from March 15 to 17, a move that Kremlin critics have argued makes guaranteeing transparency more difficult.

Following a controversial constitutional reform in 2020, Putin could stay in power until at least 2036.

Rights groups say that previous elections have been marred by irregularities and that independent observers are likely to be barred from monitoring the vote.

While Putin is not expected to face any real competition, liberal challenger Boris Nadezhdin has passed the threshold of signatures to be registered as a candidate.

However, it is still unclear if he will be allowed to run, and the Kremlin has said it does not consider him to be a serious rival.

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Hong Kong court grants Chinese real estate giant reorganisation postponement

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Hong Kong’s Supreme Court has once again granted the highly indebted Chinese real estate giant Evergrande a postponement for its reorganisation plan.

Judge Linda Chan surprisingly postponed the decision until Jan. 29, the South China Morning Post reported on Monday.

The property developer, which has liabilities estimated at more than 300 billion dollars, is threatened with liquidation.

However, creditors from abroad had taken the company to court because of its missing several payments.

Chan had already said at the previous hearing that this would be the last postponement and that she would very likely agree to liquidation if China Evergrande did not find a plan for restructuring with its creditors.

According to reports, however, the lawyers of the Hong Kong-listed group had now held out the prospect of being able to reach an agreement with the lenders in the coming weeks.

In the case of liquidation, an insolvency administrator would monetise the company and pay out the creditors.

Meanwhile, some experts were of the opinion that liquidation would return less money to creditors than a reorganisation, China Evergrande argued the same in court, according to reports.

The group had been trying to submit a restructuring plan since 2022, without success. Its founder and once China’s richest man, Hui Ka Yan, is being investigated by the Chinese authorities.

Like many other property groups, the company had been in a serious crisis for some time because it is earning significantly less on the slumping property market.

The company is finding it more difficult to obtain state support and is no longer able to service its loans.

“The Evergrande case also shows that the era of large private property developers in China is coming to an end,’’ says Max Zenglein from the Merics China Institute in Berlin.

If Chan decides to wind up China Evergrande, this could also have an impact on other companies.

“One challenge for the government will be to prevent domino effects in the economy caused by major bankruptcies,’’ says Zenglein.

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