From 4% to 20%. How big will the recession be in Portugal?

ECO News,

The uncertainty remains high, but economists are already beginning to count the economic cost of the pandemic. Most point to the biggest recession of Portuguese democracy.

EDP increases green bond issuance to 750 million

ECO News,

EDP has revised upwards the value of the green bond issue: it intends to finance 750 million euros. Demand already exceeds 5.5 billion.

Algarve hotels occupancy rates ‘lowest ever’ in March

Lusa,

The Association of Hotels and Tourist Developments in the Algarve (AHETA) said that the overall average occupancy rate per room was 28.6%, or 45.8% below the figure for 2019.

Sonae’s management salaries increase 10%

ECO News,

The Portuguese company has increased the expenses with remunerations. Cláudia Azevedo, the new CEO, earned just over 812 thousand euros.

Opinion Chinese economic relations with Portugal (part I)

José Pedro Teixeira Fernandes,

One of the most targeted countries by Chinese economic diplomacy in the European Union was Portugal, particularly during the Euro area crisis in the years 2011-2015 and in the aftermath.

5G auction in Portugal postponed

Lusa,

In Portugal, the National Communications Authority said that the three operators requested the suspension of the auction of the bands 700 MHz, 900 MHz, 1.8 GHz, 2.1 GHz and 3.6 GHz.

UniCredit predicts a 15% drop in Portugal’s GDP

ECO News,

"The mother of all recessions has arrived." It's with this phrase that the Italian bank introduces the new forecasts for this year. Portuguese GDP will fall 15% in 2020, but recover 10% in 2021.

Over 100,000 self-employed ask for support

Lusa,

Exactly 102,708 self-employed workers, who saw their economic activity reduced due to the Covid-19 pandemic, have applied for the government's extraordinary support.

CTT cancels dividend due to Covid-19

ECO News,

The company expects revenues to fall in the coming months because of the pandemic. It has therefore decided to reverse the decision to remunerate shareholders, but also to pay bonuses to workers.

Opinion A Data Army to Fight our Current Battle

António Crespo de Carvalho,

Prediction, protection and containment. Three use-cases, that, supported by reliable data sources, can be decisive in helping governments in their fight against the pandemic.

‘European Commission should issue debt’ – Vitor Constâncio

Lusa,

"A quick way to have common European debt to finance expenses to face up to the crisis would be to resort to the European Commission to issue bonds to finance exceptional programmes," Constâncio says.

“Nationalising TAP would be a step backwards”

ECO News,

Humberto Pedrosa believes that to nationalise TAP due to the serious difficulties the airline is experiencing during the Covid-19 pandemic "would be a step backwards."

Portugal increases restrictions on movement of people

ECO News,

The Government has already approved measures to extend the State of Emergency in Portugal for a further 15 days.

Santander Portugal to pay suppliers promptly

ECO News,

The Bank joins two others, BCP and the Novo Banco, which decided to anticipate payments to strengthen the liquidity of the companies with which they work.