“The Chinese shareholder is not the boss of EDP”
Diogo Lacerda Machado defends the virtues of the Chinese investment in Portugal and recalls that during the financial crisis, no one would even so much as look at Portugal.
Short-term debt auction has the most negative interest ever
In the first debt auction of 2018, Cristina Casalinho had every reason to smile. IGCP raised 1,750 million euros in short-term debt with the most negative interests ever.
Portugal has Europe’s most attractive dividends
Dividends and more dividends... it is that time of the year when all investor can think about is dividends. This year, companies will be more generous towards shareholders. Portugal stands out.
CFP validates PM’s expectation for the deficit
Based on data until September of 2017, CFP (Portuguese Public Finance Council) points to a deficit below 1.4%, and highlights the Government has never had such a high primary surplus.
Galp Energia is on the run for Mexican oil
The oil company is pre-qualified to go to the auction of several oil blocks in the Gulf of Mexico. Carlos Gomes da Silva is studying partners to enter the contest this month, ECO knows.
CGD has sold over 3,000 properties in 2017 for 338 million
Three of those sales happened "by means of organized consultation proceedings to the market, and had over two dozen Portuguese and international investors who were interested and presented proposals".
Consumer credit reaches a new record in November
Credit institutions lent around 654 million euros in consumer credit in November of 2017. It is a record amount in over four years.
Tourism: number of guests increases in November
The touristic activity continued its good pace in the end of last year. Data from INE shows the number of guests and overnight stays are accelerating, but companies' gains have reduced their growth.
Automobile sector is worth 6% of the Portuguese GDP
The Automobile Cluster Association wants a fifth producer working in Portugal until 2020. A study by Deloitte shows the sector is worth 11 billion euros, around 6% of the country's wealth.
Portuguese banks pass ECB’s solidity test
CGD, BCP, BPI, Santander Totta and Montepio revealed the results of their solidity test. All of them passed ECB's exam. Novo Banco was left out of the assessment for being a transition bank.
Totta stops the purchase of bitcoin through Coinbase
Santander Totta is attempting to stop the purchase and sale of the digital currency in Coinbase, saying it is not a regulated entity. Several clients complained about the situation.
Mário Centeno is now the new President of the Eurogroup
Mário Centeno has ringed Eurogroup's bell. Starting this Friday, the Portuguese Finance minister will begin the leadership of the group of Finance ministers managing the euro.
Prices accelerate in 2017. Inflation rate rose to 1.4%
Prices in Portugal accelerated last year. The average inflation rate stood at 1.4% in 2017, side by side with an improvement in the economy and in the prices of energy. In 2016, prices rose 0.6%.
Fernando Pinto is leaving TAP
Fernando Pinto is leaving the executive presidency of TAP in the end of this month. He was a part of the company for 17 years. Antonoaldo Neves will be his successor.
Portugal assured more than one fifth of the 2018 financing
IGCP was able to get 4,000 million euros in Bonds with the lowest rate of the decade. Mário Centeno highlighted that investors' appetite would allow the State to meet its needs for 2018.
Corticeira Amorim purchased 70% of the Swedish Elfverson
The Portuguese cork company revealed that the agreement was signed with Amorim Bartop, its subsidiary. The purchase of 70% of the Swedish Elfverson costed Corticeira Amorim 5.5 million euros.
Portugal gets a 17 billion euros demand for ten-year debt
Portugal is making a ten-year debt issuance by means of a banking syndication. Demand exceeded 17 billion euros and the final interest rate stood just above 2%.
Portugal will have a ten-year syndicated debt issuance
IGCP had Barclays, Citigroup, Crédit Agricole, Goldman Sachs, JPMorgan and Novo Banco launch a new line referring to ten-year Treasury bonds.
Altice does a USA spin off. Dividends propel shares
Patrick Drahi's company wants to separate the North-American unit from the Dutch branch. But it also wants to restructure its operations in Europe. The goal is to calm investors' fears.
This Portuguese cryptocurrency is one of the most valuable
The Portuguese company Aptoide started transacting its virtual currency last Friday. In 24 hours, it earned a market value of 800 million dollars. It is one of the most valuable in the world.
António Costa announced that the 2017 deficit stood at 1.2%
The Portuguese prime minister announced, this Monday, that the 2017 deficit should stand at 1.2% of GDP, lower than his previous downward forecast of 1.3% of GDP.
Luís Amado and Mexia will head EDP over the next three years
EDP's main shareholder, China Three Gorges, will ask shareholders to renew António Mexia's mandate as CEO of the Portuguese electricity company. Luís Amado will be the new chairman.
Unemployment falls to 8.4% in October
The unemployment rate has once again exceeded expectations and registered a new fall, to 8.4%. One would need to go back to February of 2005 to find the same percentage.
Resolution Fund has a 4.8 billion euros’ shortfall
The Resolution Fund acknowledged a 4.9 billion euros impairment even before concluding the sale process of Novo Banco. This meant the fund's resources sunk to negative 4.8 billion euros.