Generali closes deal to acquire Tranquilidade for 600M€
Generali has beaten Catalana Occidente on the race for Seguradoras Unidas, purchasing it for 510M€ from Apollo. The deal also includes the acquisition of AdvanceCare for 90M€.
Nonfinancial Debt hits a new record of 726.6Bn€ in May
The Portuguese economy's indebtment rose to 729.6Bn€ last May, the Bank of Portugal revealed this Thursday. This number is considered a new record.
External deficit hits the worst record since 2011
The external deficit reached 2.614M€ in May, which sets both the current and capital balances in their worst record since 2011. Data was revealed by the Bank of Portugal this Wednesday.
Greece: the mysterious “112” that costed 770M€ to PT banks
There are many kinds of debtors in the Portuguese banking system, but Greece is, without a doubt, the largest. It is the so-called "client 112" according to the recently published BdP debtors' list.
New CTT’s CEO cuts in chauffers and executives’ pay
João Bento, the new CTT's CEO, is determined to bet on a different strategy from his predecessor, Francisco Lacerda.
Nova SBE opens campus to corporate innovation
Nova SBE created a new department to open the University to the world. Pedro Brito, the co-founder of Jason Associates and Mercer's country business leader, is the one leading the project.
Fidelidade closes deal with major Chinese Insurer
Fidelidade has signed an agreement with China Reinsurance, China's major insurer, to implement reinsurance solutions over Chinese investments in Portugal, Spain, Angola, among others.
EDP says it can’t close Sines central before 2030
The responsible for the Sustainability Department of EDP, António Martins da Costa, has reassured this Monday that Sines' thermoelectric plant will be closed until the year of 2030.
Government’s official journal to have an English version
The non-Portuguese reading public can now consult the latest diplomas approved by the government as well as a guide for investors, assisting them with their queries about investing in the country.
Galp’s production increases 3% on the 2nd trimester of 2019
Galp Energy increased 3% its oil daily average production to a total of 109,700 barrels per day during the second trimester of this year.
Meo replaces NOS in managing SNS’s information systems
Meo, held by Altice Portugal, won the public tender for the network maintenance of the Portuguese National Health Service (SNS).
IMF: GDP and Investment decelerating
The International Monetary Fund sees the Portuguese growth on a descending route. From the 2.1% registered last year, the economy should cool down to 1.5% in terms of GDP performance by 2020.
Sonaecom sells WeDo for almost 86M euros
Sonaecom will sell WeDo Consulting. Almost two decades after, the company led by Rui Paiva reached an agreement to be acquired and merged with Mobelium for an amount close to $100M.
Portugal Ventures triples 2018’s investment
Portugal Ventures, the public agency for risk and capital management currently managing over 200M€ in investments, invested 9M€ in 14 startups in the first semester of the year.
Portugal to have the only pure linen spinning unit of Europe
The industrial process of pure linen spinning has only been covered by Asian companies, but not for long. Polopique is investing in a unit of this kind in Portugal, only ready to work next year.
Ter-Minassian denounces “setbacks” in reforms in Portugal
The chief economist that coordinated FMI intervention in Portugal in 1983 considers that the progress of structural reforms in Portugal fell short of expectations.
Exports and Imports accelerate to 8.7% and 14.7% in May
Portuguese exportation of goods increased by 8.7% as the importation increased by 14.7% relative to last year's May.
A Nation without deficit in a State with minimum services
ECO decided to hear about what a political scientist, a demographer and two economists have to say as the broader picture presents a state that fails in providing good-quality public services.
Interview Jari Stehn: “Expansion in Portugal should remain resilient”
Sven Jari Stehn, Goldman Sachs' chief economist for Europe, shows optimism about Eurozone's economy in an exclusive interview to ECO. Trade war, Brexit and Italy are some of the greatest risks.
Tourism sector lacks professionals
In the tourism sector, the demand for new workers, especially in hospitality, increased in North of Portugal in comparison to Greater Lisbon and Algarve.
Opinion USA-China trade war: its macroeconomic impact in Portugal
When looking into this complex issue of what is usually called “trade wars”, one must consider the fact that international disagreements over trade barriers or partnerships usually hide problems.
Cantanhede featured on Bloomberg: blame it on cannabis
One of the most promising companies in cannabis' cultivation is putting the small Portuguese town of Cantanhede on the global map of the sector.
Portugal to issue 10Y-26Y bonds
The Portuguese treasury and debt management agency (IGCP) has announced a double auction for 10Y and 26Y government bonds that will take place next Wednesday.