Portugal’s cash buffer is the strongest in the EU
Data from the first quarter of 2018 shows Portugal's government debt was the third highest at EU-level. Yet, in the indicator corresponding to cash buffer, Portugal showed the best result in the EU.
Portugal’s debt reached a total of €724bn
In May this year, the Portuguese debt pile had increased yet again reaching the heavy amount of €724bn. The total sum of non-financial debt was five times higher than the country's GDP the same year.
New offer for EDPR can be registered before CTG’s takeover
MFS, one of EDPR's main shareholders have sent a letter on behalf of their clients, concerning CTG's PTO. CMVM clarifies that a new takeover bid to EDPR can be registered before the chinese offer.
In Lisbon, tourists pay an average of €136 per night
AHP shows that tourists pay an average of €136 per night in Lisbon. Portugal's occupancy rates are on the rise, with the top 3 being Lisbon (89%), Porto (88%) and Madeira (84%).
Raize’s shares show bold market debut: 19% value increase
Update: Raize's first day at the Lisbon Stock Market showing a 19% increase in shares value. Europe's "first crowdfunding company to go public" stock market debut starts off at €2,38 per share.
Cláudia Azevedo is Sonae’s new CEO
Cláudia Azevedo will take on the executive presidency role at Sonae. In a public statement to CMVM the news about who would take the CEO's role were disclosed.
Portuguese national football team’s new sponsor is Spanish.
Welcome BPI, farewell Novo Banco. Portuguese national football team's new sponsor is Spanish.
Real estate: BPI’s block in Baixa sold for €66m
Six months were enough for BPI bank to successfully find a buyer for their block, located at the Portuguese downtown area, Baixa. Sold for €66m, Lisbon shows an increasing trend in real-estate prices.
Portugal will sell five more F-16 fighter jets to Romania
The Portuguese government has already sold 12 fighter jets to Romania, having reached €189m in profit. Now, the Romanian minister of defense announces they will buy five more Portuguese aircraft.
Government approves a 20% Corporation Tax (IRC) bonus
Companies located in the interior of the country will benefit from a 20% tax bonus which could in some cases result in a zero value corporation tax, encouraging investment to boost in these regions.
Aga Khan shows interest on Taguspark shares owned by CGD
The Ismaeli leader is considering the acquisition of CGD's Taguspark 10% share. His goal of being a shareholder of Oeiras' science and tech park can happen quite soon.
Citigroup joins the advisory board of EDP’s takeover bid
EDP's takeover bid welcomes a new player. China Three Gorges strengthens its financial advisory board, hiring yet another American bank to assist with the €9,1 bn acquisition.
Venture capital not pushing startups in the right direction
CMVM's yearly report noted that venture capital is not as adventurous as it would be expected with investors choosing less high-risk projects at an early stage, such as startups.
VW’s workers union ask for 4% raise among other demands
Volkswagen's Portuguese workers' union demands more rights, particularly asking for a 4% raise, a 25-day-long vacation period and the regularization of the 400 precarious employment contracts
Taxi-hailing apps like Uber will have to pay a 5% tax
Portugal's President vetoed the first proposal of a 2% tax saying that there was no balance between the taxi-hailing apps and the taxi drivers. PS and PSD agreed in a 5% tax.
European Commission lowers Portuguese GDP forecast to 2,2%
European Commission points out "resilient growth amid increased uncertainty" at EU level and lowers the Portuguese GDP forecast to 2,2%, while growth momentum in the euro area shows more moderation.
T-Roc has doubled Portugal’s car-producing capacity
Vehicle production has almost doubled, mostly due to Volkswagen's SUV T-Roc, produced at Autoeuropa. 154 thousand vehicles were produced during the first half of the year, accordingly to ACAP.
PM’s long-awaited visit to Angola has been finally scheduled
António Costa will visit Angola later this year, in September. Portuguese-Angolan relationships shall improve considering the double taxation issue is solved.
Lisbon and Porto’s airport taxes increase by 1,63% and 1,01%
Increase trend in passenger traffic in Lisbon and Porto makes Vinci Airports and ANA raise airport taxes by 1,63% and 1,01%, respectively.
INE shows Portugal is exporting less goods than last year
In relation to last year, exports have decreased as they registered a 6,2% growth against last year's 17,7% raise over the same period.
Portuguese hype attracts 26 thousand foreign students
Seems like not only tourism is blooming in Portugal, as the number of foreign students registered at Portuguese universities almost doubled over the last five years.
Chinese companies suffocate national wind tower production
Chinese are suffocating the Portuguese wind power producers – claims for the use of impractical prices are raising concerns regarding the need of applying anti-dumping measures.
Aussies have over a billion euros to invest in Portugal
Australian leaders and entrepreneurs visited Lisbon last week and they have over €1.1bn to invest in Portugal.
Obama was optimistic at Climate Change Summit in Porto
Former US President spoke in Porto about the Paris Agreement's longlasting potential and the role civil society can have in ensuring the issue is a priority for politicians.