A Sino-Angolan consortium will invest 12.4 billion euros (US$13.8 billion) in the construction of an oil refinery in the northern Angolan province of Bengo, Portuguese news agency Lusa reported.

China is willing to work with Brazil in numerous areas to advance their bilateral ties Chinese official news agency Xinhua reported, quoting China’s President Xi Jinping. He described those ties as “a luxuriant tree”, Xinhua additionally said.

China’s consumer prices went up slightly in June while producer prices continued to fall, official data show. The country’s National Bureau of Statistics announced on Thursday that inflation in China was up 1.4 percent in June year-on-year, compared with an increase of 1.2 percent year-on-year in May.

China’s State Council is confident that the country will be able to reach its economic and social development targets for this year, Chinese state-run news agency Xinhua reported.

Cape Verde and Guinea Bissau are among African countries that will benefit from a total of 1.15 billion euros (US$1.3 billion) in aid announced earlier this week by the European Commission, the executive body of the European Union (EU). It is to help support West Africa until 2020. The new funding nearly doubles the EU’s previous commitment to the region.

China and Russia will assist in the construction of what was referred to as a “transport corridor” connecting Brazil and Chile if the scheme is approved, Russian state-controlled news service Sputnik reported.

Portugal’s exports of goods increased by 1.8 percent year-on-year in 2014, totalling almost 48.2 billion euros (US$53 billion), the country’s statistics bureau announced on Tuesday.

China has this year seen a rise in its exports and investment in countries and regions linked by the “One Belt, One Road” initiative, Chinese official news agency Xinhua reported.

Guinea Bissau’s Prime Minister, Domingos Simões Pereira, pledged the African nation would become a major destination within Africa for foreign investment, reported Portuguese news agency Lusa. The country’s economy is set to grow by 7 percent in 2018, Lusa added, quoting the P.M.

Chinese automaker Chery aims to enhance its production and presence in the Brazilian market this year, China’s state-run news agency Xinhua reported.

Mozambique’s gross domestic product (GDP) at market prices grew 5.9 percent year-on-year in the first quarter of 2015, Mozambican newspaper Folha de Maputo reported, quoting official data.

The Chinese economy “is showing some positive changes” as the recent measures by the Government in support of the economy have started to take effect, said the Chinese National Bureau of Statistics.