Auditor of defunct BES bank fined €1M

Lusa,

The Market regulator has fined KPMG a million euros after finding irregularities in the consultancy's activities in the area of legal certification of the accounts of the former BES bank.




Closing borders within EU ‘makes no sense’ – government

Lusa,

The second phase of the Covid-19 pandemic "it makes no sense" to close borders again within the European Union, Portugal's secretary of state for European affairs has told members of parliament.


Libyan investor will buy EuroBic only with majority stake

ECO News,

A promissory agreement signed with Isabel dos Santos foresees that the Libyan investor Roger Tamraz can cancel the deal if he does not acquire over 50% of EuroBic's stake.


Banks cut almost 13,000 employees in 10 years

Lusa,

According to Bank of Portugal, banks operating in the country cut almost 13,000 employees and closed more than 2,000 branches in the last 10 years.



Limitation on movement from October 30 to November 3

ECO News,

The Portuguese government announced on Thursday that it will be forbidden to circulate between municipalities between October 30 and November 3.


“Recovery is being too slow”. TAP CEO anticipates lower dema

ECO News,

Ramiro Sequeira shared with the workers the operation data until September. He warns that recovery is being "very slow" and is concerned about the demand behavior for the coming months.



Portugal can save 4.5 million per year with social bonds

ECO News,

By borrowing money from Europe instead of going directly to the markets to finance itself, Portugal saves on interest rates as the European Union is able to issue debt on better terms.


Nos and Vodafone will share mobile network across Portugal

ECO News,

Operators have signed various agreements to share mobile network infrastructure and equipment, covering the already existing 2G, 3G and 4G technologies. 5G will depend on the outcome of the auction.


AdC gives ‘green light’ to state control of TAP

Lusa,

Competition authority has given the 'green light' for the reinforcement of the state in TAP, with the acquisition of 22.5% of the company's capital.


New development bank takes off without a new administration

ECO News,

The economy minister met on Tuesday with the leaders of the three institutions that will merge to create Portugal's new development bank, Banco Português do Fomento.


Hotels estimate revenue loss above €3.6B in 2020

Lusa,

The Portuguese Hotel Association (AHP) expects that the loss of hotel revenues in 2020 could be more than €3.6 billion.




Novo Banco: Andres Baltar appointed to lead corporate credit

ECO News,

The General Council will appoint a new management team for Novo Banco this Thursday. Ramalho continues as CEO and Andres Baltar, of Barclays Bank, will be appointed as corporate director.


Airbnb multiplies by five the fee charged to hosts

ECO News,

Airbnb registered hosts will pay a 15% commission to the platform instead of the current 3%. Guests, in turn, will no longer pay the service fee but only the accommodation.


Hotel sector wants TAP sized to national tourism

Lusa,

The president of the Hotel Association of Portugal (AHP) said on Wednesday that the sector wants an airline company that is sized to the national tourism.


EDPR and Ellaktor reach agreement to invest in Greece

ECO News,

EDP Renováveis has signed a partnership agreement with Ellaktor for the joint-development of wind farms in Greece. The investment could exceed one billion euros.