Iberian gas pipeline could cost Portugal and Spain €350M

ECO News,

The gas pipeline linking Portugal and Spain to Europe, via France, may cost up to €350 million. According to Expresso newspaper, the work may be completed in two and a half years.



ECS funds sold for around €850 million

ECO News,

Caixa Geral de Depósitos, BCP, Novo Banco, Santander Portugal and Oitante have reached an agreement with the North Americans for the sale of the FLIT and Recuperação Turismo funds.



Sporting increases share capital to €150 million

ECO News,

The Portuguese club announced this Thursday that it had completed the conversion of €83.57 million in mandatory convertible securities (MCS) into shares, increasing its capital to €150 million.



E-REDES invests 550M in power grid from 2023 to 2025

Lusa,

The electricity distribution arm of Energias de Portugal (EDP) is sticking with plans for capital spending of €550 million on the power grid between 2023 and 2025.


Portugal inflation exceeds Eurozone average in July

ECO News,

The lowest annual inflation rates were registered in France, Malta (both 6.8%) and Finland (8.0%). The highest annual rates were recorded in Estonia (23.2%), Latvia (21.3%) and Lithuania (20.9%). 



TAP’s market share falls to 28% in Q2

ECO News,

TAP continues to lead passenger transport in Portugal, but the gap to the low-cost airlines shortened between April and June.


Business registrations in Portugal climb 7.7% in Q2

Luís Alexandre,

In the second quarter of this year, the number of new businesses in Portugal grew by over 7%, above the European Union average (-1.2%).



Iberian mechanism generated 15.3% electricity savings

ECO News,

Between June 15 and July 31, the Iberian mechanism generated savings of 15% in the average hourly price on the Iberian Electricity Market (MIBEL).


Portugal Q2 GDP contracts by 0.2% QoQ, but rises by 6.9% YoY

ECO News,

According to Eurostat, in the second quarter, Portugal's economy slowed by 0.2% Quarter-on-Quarter (QoQ). Compared to the same period last year, the country’s GDP increased by 6.9%.







TAP repudiates attacks on its competence

ECO News,

TAP's executive committee says workers' pay cuts can only be lifted after the end of the restructuring plan in 2025.




EC ‘supports, encourages’ Iberian-EU gas interconnections

Lusa,

The position comes after on Thursday German Chancellor Olaf Scholz came out in favour of a pipeline to transport gas from Portugal through Spain and France to the rest of Europe.