VENTURE CAPITAL POST

Leaders of the world's economy began their regular meeting on Thursday discussing necessary steps to boost growth and consumption. While G20 also held a meeting with similar agenda.

The second largest oil producer in Africa will start negotiate with IMF next week for a bailout program. Continuous drop of oil price hit Angola economy after years of prosperity from oil production.

Swiss food and drinks company Nestle (NESN.VX) is cutting 15 percent of its workforce in 21 African countries, the company confirmed on Wednesday.

Oil major BP beat expectations for the fourth quarter of 2014 thanks to a surprise profit from its stake in Russian oil giant Rosneft while taking a $3.6 billion impairment charge and cutting spending due to low oil prices.

OPEC's oil supply has risen this month due to more Angolan exports and steady to higher output in Saudi Arabia and other Gulf producers, a Reuters survey showed, a sign key members are standing firm in refusing to prop up prices.

Banco Sabadell, a Spain-based bank, plans to add 25 more branches to its existing 42 branches in Angola to target the growing millionaires in the country.

Switzerland-based Trafigura Beheer BV had put up for sale its stake in Puma Energy for USD500 million. Trafigura sold a part of its interest in the African unit to Angola's Sonangol Corporation and Cochan Ltd.

Angola would be imposing a 10% tax on oil firms operating in the country.

Marathon Oil Corp said it would selling its 10% stake in an Angolan oil and gas field for USD 590 million.

South African grocer Spar Group Ltd said it would be working with an Angolan partner to open a store in Luanda in the next six months.

Petroleo Brasileiro SA's acquisition of Angolan LNG's first cargo was expected to lessen the shipping demand.

Sinopec Group of China agreed to buy Marathon Oil Corp's Angola offshore oil and gas field called Block 31 in a US$1.52 billion deal.