EC ‘ad hoc correction’ so country could exit excess deficit
Ministers' rubber-stamped the recommendation, enabling the country to go from the corrective procedure to the preventive procedure of the euro-zone Stability and Growth Pact.
BdP has low expectations about investment growth
The BdP holds on to its prediction of the country's GDP growth at 2.3% this year. However, the regulator considers the growth will happen mostly due to private consumption rather than investment.
APO takes Nigerian business journalist to the Web Summit
Each year APO Group invites journalists to attend major events, as part of its commitment to supporting journalism in Africa. Nigerian journalist Frank Eleanya was chosen to attend the Web Summit.
SIRESP to appeal ruling blocking change to contract
The entity that manages Portugal’s emergency communications system, SIRESP, is to appeal a ruling from the country’s Court of Auditors (TdC) refusing to permit an addition to its contract.
Angolan President João Lourenço pays two-day visit to China
João Lourenço started a two-day official visit to China on Tuesday with the central aim of securing an $11.7 billion (€9.83 billion) loan from the government in Beijing.
Ryanair receives contract drafts from unions after strike
Unions objected to Ryanair's refusal to employ staff under the law of the country where they were based. EU rules for mobile aircrews are "clear", according to EU's Employment Commissioner.
Axpo becomes main shareholder of Portuguese Goldenergy
Axpo is now the controlling shareholder of the Portuguese energy distributor, Goldenergy, the third biggest in Portugal. The Swiss want to reinforce their presence in the Portuguese market.
IMF warns about high indebtedness. Credit should be halted
Christine Lagarde is concerned about the high indebtedness level, and the negative impact it might have on the financial stability of the country. The IMF is asking regulators to react.
Sonae & Nielsen bet in a disruptive marketing platform
Sonae IM and Nielsen invested $6m in ciValue, an Israeli company that created a segmented marketing platform for the retail sector. This platform allows companies to better know their costumers.
Unemployment rate higher for host citizens than EU citizens
The unemployment rate in Portuguese cities affects host citizens more than EU citizens living in Portugal, according to the data released this Tuesday by Eurostat.
IMF cuts down the Portuguese GDP growth to 2.3% this year
International Monetary Fund's expectations for the Portuguese economy have lowered to an estimated 2.3% GDP growth, while its forecast for 2019 remains unchanged (1.8%).
BCP Bank lost €600m in seven days due to Italy’s debt crisis
BCP's stocks have gone down by 4% this session, increasing to 15% the accumulated loss that has been registered over the last six sessions. Almost €600m in market value "vanished".
Douro region sees investment of €60m to boost tourism
Mário Centeno announced this Monday that there will be an investment of €60m in the Douro region in Portugal. Foreign tourism in the region increased by 40%.
Exports up by 10% and imports up by 13% in 2017
Portuguese exports went up by 10% and imports went up by 13.1% in 2017 in comparison to the previous year, reaching new record highs in terms of exchanged values.
Sonae’s IPO starts today. Here is our Q&A
Investors who want in on Sonae's IPO should do so from the 8th to the 17th of October. These ten questions and answers will tell you everything you need to know if you want to invest in this IPO.
CaixaBank is under investigation regarding BPI takeover
One of Spain's highest courts, Audiencia Nacional, is currently investigating the ex-president and the remaining administrators of CaixaBank, over a legal action presented by two Spanish shareholders.
Portuguese banks reduced €18bn of non-performing loans
During the second quarter of 2018, clients' deposits increased by 3.6%, according to the Bank of Portugal (BdP). Liquidity indicators remain at high levels.
ANAC suspends the increase in Lisbon’s airport taxes
The tariffs announced earlier this year violate the terms of the agreement between ANA and the Lisbon Airport, according to the National Civil Aviation Authority (ANAC). ANAC suspended the taxes.
BNA auctions €74.5 m in hard currency, kwanza keeps falling
The Angolan central bank announced this Thursday that it had concluded a foreign currencies exchange auction with seven commercial banks. The amount sold (€74.53 m) devalued the kwanza yet again.
Talkdesk closes €100m deal. Portugal has a new unicorn
Viking Global valued Talkdesk at €1.2 bn. With this investment, the company will expand commercially, to the European market, focusing as well on product development.
0.7% deficit can only be reached with a 0.4% surplus on H2
H1 deficit surpassed the goal for 2018. The Parliamentarian budget support unit (UTAO) has alerted for the increases in the public servants' wages as a menace to a better state deficit performance.
Retail trade down by 0.2% in eurozone, up in Portugal
Retail trade was down by 0.2% in August 2018, in comparison to July, according to Eurostat. The highest decrease was witnessed in Latvia (-1.2%) and the second largest increase in Portugal (+1.1%).
Done deal. Web Summit stays in Lisbon for 5 more years
The Portuguese government and the Web Summit's leaders had been negotiating to extend their partnership. This Wednesday, they sign an agreement that maintains the event in Lisbon for 5 more years.
ANA gets concession agreement for Montijo’s airport
The agreement memo between the government and the airport manager ANA is aiming at increasing the airport capacity in the region. The agreement will be signed before the 15th of October.44 year-long