Portugal’s government foresees a 6.9% drop in GDP
António Costa revealed that the government is working on a macroeconomic scenario with a 6.9% drop in GDP in 2020 and an unemployment rate of 9.6%.
The Lisbon stock exchange represents only 30% of the economy
Unlike other countries, most exits from the stock market took place until 2008. After the crisis, it was companies with weaker performance, more indebted and less liquidity that left.
Peaks in debt repayments force Portugal to keep full coffers
The President of the IGCP explains to ECO how the management of public debt at this time of crisis will be carried out, which is leading to an increase in financing needs.
Hotel industry estimates €3.2M to €3.6M of revenue lost
By the end of the year, losses of up to 3.6 billion euros are expected in the Hotel industry.
Number of Covid-19 cases increases 1%. Death toll at 1,436
The number of cases of coronavirus infections in the country has increased to 33,592. Since the outbreak was detected in the country, 1,436 people have died.
Lisbon, Porto and Aveiro are the most competitive regions
The most competitive places in the country are located on the coast, especially Lisbon, Porto and Aveiro.
EU ‘optimistic’ of Portugal’s ‘rapid’ economic recovery
The European Commission believes that the way in which Portugal "controlled" the pandemic will benefit the recovery of tourism this summer.
Costs and low liquidity drive companies off the stock market
OECD made a diagnosis of the problems of the Portuguese capital market. It stresses that the Covid-19 crisis has only made reforms "more urgent" to support economic recovery.
Portuguese consortium makes offer to buy Charlton Athletic
A consortium of Portuguese investors has made a proposal to buy a majority shareholding of Charlton Athletic, from the English football's second division.
Corticeira Amorim maintains dividend
The company's management will bring to the general meeting a dividend of 18.5 cents, but also the suspension of the usual extraordinary remuneration paid at the end of each year.
TAP restoring number of flights from Porto
"TAP is committed to recovering flights at Francisco Sá Carneiro Airport as soon as possible," said the Portuguese airline.
Opinion Russia and Portugal: towards a new quality of cooperation
It has been exactly 240 years since the official establishment of the diplomatic relations between the two states in 1779.
Portugal’s GDP may fall 11.8% this year
The CFP has outlined two scenarios, but in both forecasts, they bring unanticipated figures: GDP could fall by more than 10%, while the budget deficit could reach 9.3% this year.
There are 366 new cases of coronavirus in Portugal
The number of cases of coronavirus infections in the country has increased to 33.261. Since the outbreak was detected in the country 1,447 people have died.
Portugal: Non-compliance with GRECO’s recommendations
At the end of 2019, Portugal was on a list of 15 countries with a low level of compliance with anti-corruption recommendations addressed to parliamentarians, judges and prosecutors.
Hong Kong security law drives demand for golden visas
The law that China wants to impose on Hong Kong has resulted in a sudden interest in Portuguese gold visas: "The number of requests for information has skyrocketed."
Company temporary layoff support to depend on turnover
Portugal's minister of labour said on Wednesday that the support for maintaining employment created because of the Covid-19 pandemic will be greater depending on the drop in turnover.
EasyJet resumes 75% of operation in July
The low-cost airline expects to fly about 78% and 92% of the routes serving Portugal in these two summer months.
EuroBic and Abanca deal about to be closed
The deal to buy EuroBic is about to be closed by Abanca, according to the information collected by ECO.
Number of Covid-19 cases increases 0.6%. Death toll at 1,436
The number of cases of coronavirus infections in the country has increased to 32,895. Since the outbreak was detected in the country 1,436 people have died.
Unemployment drops to 6.2% in March
The unemployment rate retreated to 6.2% in March. But despite the pandemic, the INE predicts stabilization in April, with a marginal rise to 6.3%. Counting the layoff, it would be 13.3%.
Aicep launches ‘accelerator’ to help e-commerce exporters
Aicep offers a diagnosis that allows companies to understand whether or not they are prepared for the new digital side.
Aicep raised seven foreign investments during the pandemic
These are companies in the service sector: two from the USA and the rest from Germany, France and Switzerland. They are mainly companies that will establish development centres in Portugal.
Bank of Portugal orders Bison Bank to increase capital
Bank of Portugal sent a letter to the board of Bison Bank, now controlled by the Chinese of Bison Capital Financial, underlining the need for a capital increase of 19 million.