DBRS’ first review on the Portuguese debt rating is in April
The Canadian rating agency scheduled two reviews of the Portuguese rating, on the 5th April and 4th October. Currently, DBRS' rating of the Portuguese debt stands at BBB, with a stable outlook.
Energy regulator confirms 3.5% price drop in electricity
ERSE, the Portuguese energy regulator, announced on Monday that there will be a 3.5% drop on the regulated market prices for electricity. Households will save, on average, €1,58 per month.
Productivity helps boost GDP for the first time in 22 years
Between 2018 and 2021, 15% of the GDP growth will be motivated by the increase in productivity. However, employment is still the number one cause for economic growth in Portugal.
Emigration from Portugal down 10% in 2017
Around 90,000 Portuguese nationals emigrated from the country in 2017, with the UK remaining the main destination, according to the latest official report on emigration, released this Monday.
Annual inflation at 0.9% in Portugal, third lowest in the EU
Euro area annual inflation went down from 2.2% to 1.9% in November. EU annual inflation went from 2.2% in October to 2.0%. In Portugal, annual inflation reached 0.9%, up from 0.8% in October.
Consumer credit spiked in October, reaching €640m
Banks and other financial institutions distributed close to €640m in consumer credit in October, the first high since May's record values.
Old post office building to be transformed into large hostel
The building, located in the centre of Lisbon, in a street which connects Intendente to Martim Moniz, was sold to Clink Hostels for €10.3m. It will become the largest hostel in the country.
EDPR strikes new deal with Greek wind power company
EDPR got a 20-year contract in a Greek power auction, for projects with wind power generators with 15 megawatts capacity. The project will be operational by 2021.
Prime minister ‘concerned’ regarding EU budget deadline
Portugal's prime minister, António Costa, expressed concern in Brussels this Friday regarding negotiations for the next Multiannual Financial Framework (MFF) only beginning after May 2019 elections.
Portuguese 10-year bonds at seven-month low as ECB ends APP
The ECB announced the end of its asset purchase programme (APP) that had been part of its strategy to counter inflation in the eurozone since 2013. As a result, the Portuguese bond yield decreased.
Portugal has one of the lowest job vacancies rates in the EU
The highest job vacancy rates in the EU were recorded in Czechia, Belgium, Germany and the Netherlands, whereas the lowest rates were found in Greece, Spain, Bulgaria and Portugal.
Minister confirms deal between dockers and operators
The Marine Resources Minister has confirmed this Friday, that an agreement was reached between port operators and dockers' trade unions, meaning that the standstill in Setubal will be finally over.
Galp to invest €45.2m in Sines to boost eco-efficiency
Galp will invest €45.2 m in its refinery at Sines until 2023, to increase "the flexibility of the refiner apparatus".
Gold Visas investments up 41% in November to €77M
Investment in the Golden Visa programme increased by 41% YoY, in November, according to the data from the Portuguese Foreigners and Borders Agency (SEF).
Portuguese GDP per capita shrinks. 4th lowest in the EA19
Portugal is ahead of Slovakia, Greece, and Lithuania. The decrease happens in a year when the GDP increased to its highest level since 2000 and despite the government's redistribution policy.
Moody’s rating says “rising house prices are credit positive
Portuguese banks will benefit from the real estate market conditions, and the rising prices are "credit positive" according to Moody's.
Unemployment benefits and most pensions increase in January
In January, the monthly minimum unemployment limit is set to increase by €6.4, while the monthly maximum will increase by €16. Pensions will increase between 0.78% and 1.6%, depending on IAS.
Farfetch buys Stadium Goods in €220M deal
The luxury platform bought Stadium Goods for €220m, and the acquisition is going to use a yet undetermined amount of Farfetch's capital and shares, according to its leader José Neves.
Brexit: Portugal is “prepared for all scenarios”
The Foreign affairs minister said that the recent developments in the UK are "internal" issues which won't affect the work done by the Portuguese "at the political and technical level" until now.
Portuguese museums attracted 17.2 million people this year
People are more and more interested in going to museums, to the cinema and attending cultural events. Last year, mostly due to the increase in tourists, the number of museum visitors increased.
November inflation slowdown confirmed as prices up 0.4%
CPI was up in November by 0.4%, increasing by 0.9% year-on-year. In November the average year-on-year rate of overall inflation over the last 12 months was 1.1%, the same average as in October
14 CGD managers risk being vetoed by the ECB
The managers which were in charge at CGD between 2005 and 2008 and who want to get other positions in the banking sector might have difficulties doing so, as the ECB now holds EY's audit results.
Self-employment was the solution for 15% of the Portuguese
In Portugal, 15% of the people who did not find a job, decided to invest in their self-employment. Romania, however, was the EU country in which unemployment originated self-employment the most.