China, South Africa ink deals, loans valued at $6.5 billion December 3, 2015 - 12:44 AMT PanARMENIAN.Net - China and South Africa have signed deals and loans valued at $6.5bn, with the focus on building infrastructure in the African giant, BBC News reports. The deals were announced during a four-day visit by Chinese President Xi Jinping to increase trade and investment between the two countries. About 26 deals were signed on Wednesday, December 2 with $2.5bn going to South Africa's state-owned rail operator. China has given a series of loans to African countries for development. The countries, in turn, provide oil and other key commodities to the world's second largest economy. But recent slowing demand from China has hurt trade in those African countries reliant on its exports. Chinese investment in Africa plunged 40% in the first half of the year, according to China's Ministry of Commerce. President Xi's visit has been viewed as a move to reassure African nations that China's slowing growth would not limit its investment in the continent. Related links:   Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads.   Partner news |  Related sections Latest news Czech-Armenian military cooperation discussed in Yerevan  A delegation led by the Director General for the Industrial Cooperation Division of the Ministry of Defence of the Czech Republic visited Armenia.U.S. welcomes efforts to define Armenia-Azerbaijan border The United States welcomes efforts to define the border between Armenia and Azerbaijan, says Vedant Patel.Biden honors resilience of Armenian people on April 24 U.S. President Joe Biden has issued a statement on the 109th anniversary of the Armenian Genocide.Ex-Karabakh leader moved to solitary confinement cell in Baku, his son says David Vardanyan is the son of former Karabakh leader Ruben Vardanyan who who is currently imprisoned in Azerbaijan. |
