Manuel Lemos: “Holy Houses are not saving Montepio”
The president of União das Misericórdias (Holy Houses' Union) states that "we will be lucky" if half of the institutions enter Montepio. Those who do should only enter with one thousand euros each.
Is Lisbon like Barcelona yet? It is not that far
Lisbon has eight thousand tourists per one thousand inhabitants. There are two hotels and 107 short rentals per square kilometer.
S&P maintains Portugal’s rating and outlook
S&P classifies Portugal's sovereign rating as BBB- and gives it a stable outlook, meaning that this revision did not change the last assessment made by the rating agency.
Santa Casa takes less than 2% of Montepio
The chairman of Associação Mutualista Montepio says it is a "coincidence" that the end of tax exemption is taking place while Montepio will be granted tax credits.
Sonae considers placing retail business in the stock market
Sonae's Board is analyzing the possibility of listing a retail portfolio. The same is to say that it is considering placing the business in the stock market, while maintaining a majority equity.
Tourism breaks records in January
The Portuguese hotel business surpassed, for the first time, the one million guests threshold in any month of January. But growth is decreasing to the slowest rhythm since 2014.
Teodora Cardoso sees 2017 deficit standing at 1%
Public accounts should evolve more positively between 2018 and 2022 than what was projected in the last report, according to CFP (Portuguese Public Finance Council).
Brussels asks Centeno to continue reforms
The European Commission addressed a letter to Mário Centeno, after taking Portugal from the category of countries with excessive macroeconomic imbalances.
António Costa says the 2017 deficit stood “close to 1.1%”
This Wednesday, in the European Parliament, António Costa said the 2017 deficit stood "close to 1.1%". Official data will be revealed on March 26 by INE.
Portugal pays 2.8% interest for debt maturing in 27 years
Portugal raised 1,250 million euros in ten and 27-year debt. In both maturities, it paid the lowest interests ever. As for bonds maturing in 2045, IGCP got a 2.8% interest.
Portugal is repurchasing debt
The Portuguese Treasury returned to unannounced repurchase operations. In February, it acquired 250 million euros in bonds and it is already softening the 2021 reimbursement peak.
Altice Portugal drops the name “PT Portugal”
Altice Portugal has announced, this Tuesday, the last stage of the internal and brand reorganization process. "Portugal Telecom" and "PT Portugal" disappear, leaving Meo, Moche and PT Empresas.
Social institutions pay 50 million euros for 2% of Montepio
The Holy House of Mercy and other social institutions will pay 50 million for 2% of Montepio, which ended 2016 with negative funds; tax credits of 800 million allowed a positive balance in 2017.
Exports grew even less than imports in January
Portugal exported 9.6% more in the beginning of 2018 than one year earlier, in January of 2017. Imports, however, also accelerated: they had a 12.4% increase, resulting in a deficit trade balance.
BCP: Nuno Amado will be chairman, Miguel Maya will be CEO
After weeks of discussion between Fosun and Sonangol, there is an understanding for Nuno Amado to become BCP's chairman and Miguel Maya will become CEP. The only thing left is ECB's approval.
Portugal will issue 10 and 27 year debt
This Friday, IGCP announced a ten and 27-year auction. All in all, the entity headed by Cristina Casalinho wants to raise 1.25 billion euros.
Portugal loses an appeal in EU Court
The European Commission excluded Portugal's expenses amount from the EU financing due to deficiencies in consolidation.
Eduardo Catroga will work for China Three Gorges
Eduardo Catroga will not renovate his mandate as chairman of EDP's General and Supervisory Board. He will take on an international position at China Three Gorges.
Mota-Engil will build a stadium in the Ivory Coast
The construction company will sign its third contract at the Ivory Coast. In Peru, the company won three more contracts. In total, the group reinforces its portfolio by 253 million.
Sofia Tenreiro: Cisco is “fighting for a development center”
Cisco has recently signed a partnership with the Government to accelerate the country's digitization. Sofia Tenreiro, general manager of the company in Portugal, wants new investments in the country.
Portugal no longer has excessive macroeconomic imbalances
The European Commission disclosed this Wednesday the European Semester Winter Package. In the country report, the EC commands the improvements in Portugal's imbalances.
BES largest creditors want Carlos Costa to go Parliament
Once again, large funds like Pimco and BlackRock go after Carlos Costa, governor of the Bank of Portugal, because of the re-transfer of bonds from Novo Banco to bad BES in 2015.
Brussels is more pessimistic than Lone Star about NB
Brussels concluded that Novo Banco maintains some practices that contributed to the bankruptcy of BES. There are full credit proceedings without any risk assessment and credit granting "as a favor".
Pay gap worsened in Portugal
According to data from Eurostat, women from the European Union received salaries 16% inferior than men in 2016. In Portugal, there was a 17,5% difference.