EDP Ventures’ portfolio with new AI company from Israel

ECO News,

EDP Ventures, the venture capital subsidiary of the Portuguese energy giant, EDP, decided to invest in Presenso, an Israeli AI company focused on predictive maintenance of industrial assets.

“Too many jobs offer the minimum wage in Portugal”, IMF

ECO News,

The vice-director of the IMF praised the decrease in unemployment but regretted that "so many jobs" offer the minimum wage to employees. A bet in innovation and exports can revert this, he noted.

House prices increased 10% last year

ECO News,

Buying a house in Portugal is increasingly more expensive. The price rise is more noticeable in older properties. Last year, a total of 178 thousand houses were sold, up 16.6% year on year.

Analysts see deficit at 0.6% of GDP, in line with Centeno

Lusa, ECO News,

The country's economists have said that the public sector's budget deficit in 2018 ended up at around 0.6% of GDP, which is in line with Mário Centeno's estimates.

Costa da Caparica’s beachfront development will cost €6.3m

ECO News,

The government is planning a €6.3m intervention on 3.8 km of the coast in Caparica, and expectations are that the project will start being developed this year. Call for tenders start on March 23.

PM welcomes EU’s response to UK’s request for Brexit delay

Lusa,

Portugal’s prime minister, António Costa, has welcomed the response "in two modalities" agreed by the European Union to the UK’s request to extend Article 50, in a bid to avoid a disorderly Brexit.

Regling praises the fall in Portuguese interest rates

ECO News,

10-year bonds interest rates fell below 1.5%, and this is expected to be a result of the improvement in the country's rating (by S&P). Regling has congratulated the country on the accomplishment.

Vestager opposes Madeira’s tax regime given low job creation

ECO News,

EU Commissioner Vestager, considers it to be fundamental to establish "special regimes in ultraperipheral areas that are in disadvantage", as long as they promote economic growth in the whole region.

Country’s indebtedness up to €720bn in January

ECO News,

The Portuguese economy's indebtedness (not including the financial sector) was high by the beginning of the year. It went up due to an increase in indebtedness in the public sector.

Novo Banco sells largest NPL portfolio in banking history

ECO News,

Novo Banco has moved on with the sale of its NPL portfolio, entitled "Projeto Nata 2", which is valued at €3.3bn. The project has attracted several investors in the first phase, and it will be

Lisbon gets lion’s share of funds for transport ‘revolution’

Lusa,

Lisbon Metropolitan Area is expected to go through a major urban mobility transformation, as ticket prices get simplified and new public transport passes are created, covering all areas of the city.

Parliament’s budget unit estimates 0.4% deficit in 2018

ECO News,

If the financial aid given to CGD and Novo Banco was not considered, the government would have registered a 0.1% surplus in 2018, in contrast with the previous year, when it presented a 0.9% deficit.

Portugal issued €1.5bn in treasury bonds

ECO News,

The IGCP returned to the market, having issued treasury bonds with a 12 and 6-month maturity. The issuance occurs in a time when the country has been benefiting from a reduction in debt yields.

Elliot Fund pressures EDP to sell assets in Brazil

ECO News,

Elliot Fund is still pressuring the Portuguese electricity corporate, EDP, to sell its assets in Brazil, despite it not being part of EDP's strategic plan, presented last week.

Portugal is prepared for less favorable external environment

Lusa,

António Costa said this Tuesday in parliament that Portugal is "better prepared" to deal with a "less favorable external environment", addressing the concerns regarding the Portuguese GDP growth.

EDP Renewables enters Colombian market

ECO News,

This is the 14th international market EDP is entering. The company, led by Manso Neto, has announced this Tuesday morning that they are going to start a wind power project in Colombia.

Economy showed signs of improvement in january

ECO News,

Many institutions have reviewed the Portuguese economy's growth many points below the previous estimates. The economy is showing mixed signals.

Lisbon will have €10, seven-day travel pass in April

Lusa,

The government and the mayors of Lisbon are to sign contracts for a single pass in the whole region, which will cost a maximum of €40. The €10 pass will ensure a smooth transition to a new tariff.

EU disapproves tax exemptions in Madeira

Lusa,

The European Commission has criticised the tax exemptions granted by Portugal to companies established in the Madeira Free Zone (ZFM).

Businesses ‘will find new markets’ to offset Brexit impact

Lusa,

The secretary of state for agriculture said there shall be no major issue in relation to trading fruits, vegetables and wines, as the UK is the EU member state with the highest trade deficit in foods.