Continental threatens to stop investments in Portugal
Continental Mabor's chairman stated the mother company in Germany is unhappy with the Governments' unfulfilled promises about infrastructures. The investment tap is about to close, Carreira warns.
Banks may have preemptive rights on NB’s assets
Portuguese banks requested the Bank of Portugal for preemptive rights on the purchase of Novo Banco's toxic assets. The goal is to minimize their losses in the Resolution Fund.
“There is nothing specific” about EDP and Gas Natural merger
"There is nothing specific about a merger and, therefore, there is nothing to comment on", EDP's CEO stated concerning rumors of a merger between the Portuguese EDP and the Spanish Gas Natural.
Deficit stands at 1.9% in the first half of 2017
Budgetary deficit registered in the first semester of this year was 1.9%. The percentage stood below the estimates brought forward by UTAO's experts.
GDP was revised upwards to 3% in the second quarter
Initially, the economy had grown 2.8% in the second quarter. In INE's second estimate, there was an upwards revision to 2.9%. A month later, there is a new upwards revision.
Portugal issues 380 million euros in “panda” bonds
Portugal has been given the green light from the China central bank to issue debt in Chinese currency, in an operation assessed in 380 million euros. The issuance will be concluded by the end of 2017.
Portugal’s indebtedness decreases for the first time in 2017
After June's record amount of 726 billions, the indebtedness of the Portuguese economy decreased in July, for the first time since the beginning of the year. It stood at 725.4 billion euros.
Moody’s: Portuguese banking is making progress
The rating agency considers the six largest Portuguese banks are giving steps towards an improvement in the quality of their assets and their capitalization. But NPL is still an issue.
Banking “is not able to to finance company’s investments”
The Portuguese banking is being deeply restructured and is becoming more Spanish than Portuguese. In addition, it continues to have no money to finance Jerónimo Martins' investments.
Some Ryanair clients will have their flight rescheduled
The low cost airline should made 63 thousand reimbursements this Wednesday, which represents 20% of passengers affected by the cancellation of their flights.
Emigrants remittances increase 30%
Portugal received 364.7 million euros in July. France and Switzerland are still the countries with more remittances. Angola sent the most money out of the Portuguese-speaking African countries.
Unemployment aid recipients at lowest since 2002
These data were revealed by the Portuguese Social Security: the number of people receiving unemployment benefits, 184,077, stands close to the 2002 amount.
Houses’ sales volume soared 25%
More than 70 thousand houses have been sold in the first semester of the year, generating a record business volume of 8.9 billion euros. Half of those sales occurred in Lisbon.
Portugal gets record negative interest after S&P’s upgrade
IGCP went to the market for the first time after S&P's decision to take Portugal from the junk status. In the double auction of short-term debt, Portugal got record negative interests.
Faria de Oliveira: banks may need capital in the medium term
The president of the Portuguese Banking Association (APB) says banking will need to make capital increases. These reinforcements will help accelerate the process of reducing the amount of NPL.
Portuguese 2018 State Budget will be voted on November 28
The Portuguese 2018 State Budget will be presented on October 13, and the voting should take place on November 28, one month after the debate of each area in the document.
Anacom stands against Altice acquiring Media Capital
In the terms of the proposal, the acquisition of Media Capital by Altice should not happen. This is the conclusion sent by the regulator Anacom to the Competition Authority.
Portugal’s debt was “more appealing to several institutions”
Cristina Casalinho, head of IGCP, believes the attractiveness of the Portuguese public debt will increase from now on, after Standard & Poor's increased the Republic's rating.
Portugal did “all the fiscal consolidation it had to do”
Mariana Mortágua, Left Block deputy, considers the Portuguese deficit is already "too low" - regardless of the fact that the public debt over 130% of GDP scares her.
Eurostat wants CGD’s recapitalization in the deficit
The amount injected in CGD by the Portuguese State represents 2.1% of the GDP expected for this year. If it is included in this year's deficit, it will be higher than 3%.
Portuguese Government gets banks’ resolution power
The President will name both the governor of BdP and the president of the Board of Financial Supervisory and Stability, the new entity for banking resolution.
Mário Centeno for the Eurogroup? “Why not?”, PM answers
When asked if Portugal intended to chair this European Union entity, Portuguese PM António Costa chose to answer with a question: "Why not submit an application?".
“It is not usual” to increase the rating and not the outlook
The agency improved Portugal's rating, removing it from the junk status without first improving its outlook to positive. This move, Standard and Poor's say, "is not usual", but it's "not that rare".
Finance minister promises a 127.7% debt to GDP
Finance minister Mário Centeno committed to, by the end of the year, making "the largest reduction of the Portuguese debt in the last 19 years".