1. Lev Leviev tied to Chinese intelligence, business interests in Angola — Sonagol
The suspicions were spelled out in a report recently compiled by the U.S.-China Economic and Security Review Commission, which was established by Congress in 2000 in order to “monitor, investigate and submit to Congress an annual report on the national security implications of the bilateral trade and economic relationship between the United States and the People’s Republic of China, and to provide recommendations, where appropriate, to Congress for legislative and administrative action.” The report noted, among other things, that the group of Chinese corporations has business ties with Israeli businessman and diamond magnate Lev Leviev.
Us ing the group, Chinese intelligence acquires oil and energy companies and other important assets in countries in Africa, Latin American, Southeast Asia, as well as in the United States. In this way it promotes Chinese national interests, increases its influence and guarantees the supply of raw materials - first and foremost oil - necessary for its economy.
…The Chinese companies are assisted in some of their international activities by the Angolan government, a rising economic power in Africa, and particularly its national oil company Sonangol. The report mentions three international businessmen connected to the Angolan-Chinese cooperation, with the help of a company called China-Sonangol, which is registered in Hong Kong. China-Sonangol is part of the 88 Queensway Group.
…One is Helder Battaglia, a Portuguese businessman with close ties to Angolan President Jose Eduardo Dos Santos, as well as Chavez and Kirchner. Battaglia has varied investments in Angola, Congo and Latin America. The second is Pierre Falcone, a French businessman who was Arcadi Gaydamak’s partner, and together with Gaydamak was involved in supplying arms to the tune of about $800 million to Angola in the 1990s. Falcone, Gaydamak and others were recently convicted in a French court for illegal arms trade conducted in the ’90s. In recent years, Falcone moved the main center of his business to Beijing, and has become the person who opens Angola’s doors to China (for huge fees). Gaydamak is not mentioned at all in the report; it is known that he is at odds with Falcone and the two are embroiled in legal proceedings over the profits of the arms deal.
The third businessman mentioned in the American report is Lev Leviev, who was Gaydamak’s partner and who according to the report continues to have a strong standing in Angola, where he has mines, diamond polishing plants and a diamond trade company.
more @ haaretz
http://www.haaretz.com/hasen/spages/1145688.html
2. India, Angola agree to cooperation for hydrocarbon sector — there’s Sonagol again
Luanda (Angola), Jan 27: India and Angola on Wednesday said that the two countries will enter into Memorandum of Understanding (MoU) to provide an overarching framework for cooperation in the hydrocarbon sector.
…During the meeting a MoU was signed between ONGC Videsh Ltd. (OVL) and the National Oil Company of Angola namely, Sonangol, for cooperation in the exploration sector.
OVL, which is partnering Sonangol in their South Pars acreage in Iran, offered to enter joint venture operations in the existing deep-water blocks of Sonangol.
3. China-based Singapore firms rapidly collapsing amidst debt and fraud — time to buy some cheap assets?
Since late 2007, a spate of so-called S-chips - mainland companies listed on the Singapore exchange - have borrowed money then failed to repay the debts, with some becoming mired in fraud scandals….Not surprisingly, global investment banks have been involved in pushing the S-chips’ debt onto investors.
banks involved include Deutsche, Morgan Stanley. - ed.
