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Timor-Leste
30 April 2020

Banco Nacional Ultramarino and ICBC Macau partner for Portuguese-speaking countries
Banco Nacional Ultramarino bank and the Industrial and Commercial Bank of China (Macau) have signed a memorandum of understanding for the joint promotion of business between China and the Portuguese-speaking countries, according to a statement by the issuing bank.
21 April 2020

Macau Government Reaffirms Commitment to Portuguese-Speaking Countries
The 2020 Lines of Government Action, the first presented under the new chief executive, Ho Iat Seng, essentially retain that central role and opens new avenues for their development, like a Renminbi-denominated stock market and e-commerce platforms.
20 April 2020

Angolan Exports to China Take a Hit
With the Coronavirus crisis and the slowdown in the Chinese economy in the first quarter of 2020, along with a drop in oil prices, Angolan exports to China have now taken a hit. 
11 March 2020

Legal Flash: Timor-Leste amends Petroleum Activities Law
Timor-Leste's revised Law on Petroleum Activities has just been published. It amends 15-year old legislation regulating an economic activity that is the country´s main source of income. The awarding of exploration under a new licensing round is expected.
31 December 2019

CHEC starts work on Timorese port
Work has begun on building the new deepwater port of Tibar in Timor-Leste. China Harbor Engineering Company (CHEC) is developing the US$490 million project, which will be operated by French firm Bolloré.
08 October 2019

Celebration but economic fears for Timor-Leste
On 30 August, Timor-Leste celebrated the 20th anniversary of the referendum that eventually led to independence from Indonesia in 2002. Despite the national pride generated by the occasion, the country is still struggling to stabilise the economy and reduce poverty levels.
17 May 2019

Dili takes control of Greater Sunrise
In April, the government of Timor-Leste completed the purchase of the 30% and 26.56% stakes held in the Greater Sunrise gas and condensate scheme held by ConocoPhillips and Shell respectively.
10 May 2019

Timor-Leste bets on SMEs to diversify its economy
Facing a slump in its economic engine - oil production - Timor-Leste is also in urgent need to diversify its economy and generate jobs for the country’s youth, and is betting on small and medium enterprises to assist.
28 December 2018

Dili takes control of Greater Sunrise project in huge gamble
The fate of the Greater Sunrise gas project in Timor-Leste hangs in the balance after two of the main investors pulled out, selling their equity shares to the government of Timor-Leste. This gives Dili much greater control of the scheme, allowing it to demand that the planned liquefied natural gas (LNG) plant is built on its territory rather than in Australia.
02 October 2018

A defining moment for Timor-Leste
Asia’s newest country stands at the economic crossroads. The development of the Greater Sunrise oil and gas project looks more likely to proceed than at any time for a decade but is still not guaranteed. In the meantime, existing gas fields are being run down, while the government has few long term options to generate more income and could easily be toppled by political infighting.
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