Marques Mendes: NB’s sale to be decided this week
During his usual Sunday night commentary, Marques Mendes stated the decision about Novo Banco should be made by the end of the week, which coincides with the end of March.
Brussels against State’s equity stake in NB
The Portuguese Government is negotiating with Brussels the sale model of Novo Banco to Lone Star, as well as the State's equity stake in the bank, of 25%. Brussels is against this solution.
Portuguese 2016 deficit was 2.1%
The 2016 deficit was 2.1%. Therefore, Portugal is in a good place to leave the Excessive Deficit Procedure (EDP).
The cost of the State’s issuance increases to 3.4%
Due to the market's difficult circumstances, the cost of the new Portuguese debt increased from 2.5% to 3.4% in the beginning of 2017.
Hedge funds get 41% of CGD’s issuance
Most of CGD's subordinated debt issuance ended up in the hands of foreign investors; hedge funds got 41% of the issuance, the public bank confirmed in a press release sent to the CMVM.
New issuance of retail debt aims for 500 million
After the market issuance, the IGCP is once again betting on families to finance the public debt. On March 27, there will be another OTRV issuance, but this time the Agency will only pay 1.9%.
CGD’s issuance: rate between 11% and 11.5%
CGD's debt issuance is already receiving proposals. Bloomberg discloses that based on the offers made, the interest rate the public bank will have to pay should be between 11% and 11.5%.
“Dijsselbloem is sexist, xenophobic and racist”
António Costa harshly criticized the statements made by Jeroen Dijsselbloem concerning southern European countries. The PM said: "In a real Europe, Dijsselbloem would have been dismissed by now".
Portugal asks for the resignation of Dijsselbloem
The minister of Foreign Affairs Augusto Santos Silva requested in Washington the resignation of the Eurogroup President, who stated southern European countries blew their money on “drinks and women”.
Portugal spent less on unemployment benefits
Portugal saved 251 million euros on the payment of unemployment benefits in 2016, a 14% decrease comparing to 2015. The State is to be saving more than 7,200 euros a year with each beneficiary.
Banks have until 2046 to pay the Resolution Fund
Banks will have more time to pay off the loans granted by the Portuguese State to the Resolution Fund for the injection of money in Novo Banco and Banif.
Forbes: who are the Portuguese billionaires?
Both businessmen are on top of the list of the richest Portuguese, but only Soares dos Santos went up in this Monday's ranking by Forbes magazine. Belmiro de Azevedo is no longer on third place.
Montepio: Tomás Correia to leave if found guilty
"I feel reassured by the outcome of these and other charges made against me", he assures. Tomás Correia is being charged of helping the Espírito Santo Group (GES) in a time BES was already in crisis.
CGD has gone ahead with the debt issuance
CGD'S CEO Paulo Macedo is already in the markets issuing subordinated debt. He hired banks for the roadshow beginning on May, 20.
TAP’s agreement with banking “beneficial for both”
Humberto Pedrosa, TAP's shareholder, confirms debt renegotiation with the banking has been concluded. The closing of the operation means a new administration will enter office.
PSA chairman appointed for the Board of Total
Carlos Tavares, chairman of PSA Peugeot Citroën, was appointed for the Board of the oil company Total; the voting will take place during the meeting on May, 26.
“See to it that you don’t need a new programme”
Germany's warnings to Portugal have returned - once again, from the Finance minister, Schäuble: “My warning to Portugal is: see to it that you don’t need a new program”.
Bosch Portugal wants a new factory in the country
Bosch's Portuguese representative aims to be the front runner when it comes to national exports. In order to do so, he stated "Bosch must allow us to build a major factory" - but it will not be easy.
Marcelo had troubles convincing businesspeople
In the beginning of his mandate, the Portuguese Presidents had troubles convincing business people to invest in Portugal, although that stance has changed.
Houses: prices increase 5.6% in the end of 2016
For 18 months, house prices have been rising almost continuously, supported by the increase in demand. That same demand should continue to help the increase in prices.
Job creation will continue increasing
Portuguese employers hope to continue hiring in Spring, having good prospects for all sectors. The Portuguese south region is where most hiring will take place.
Portuguese in the Netherlands apprehensive
They cannot vote and, therefore, are mere spectators. This Wednesday's elections will affect the almost 17 thousand Portuguese living in the Netherlands, who are either curious or apprehensive.
Export of goods grows less than imports in January
In 2016, imports grew 1.2% and exports grew 0.9%, a tendency which continues in the first month of 2017.
Cutback in banking workers almost doubles in 2016
Portuguese news agency Lusa calculated the number of employees who were dismissed, from the five most important Portuguese banks. Novo Banco is the front-runner.