Portugal’s external debt at highest since 2011
The country recorded an external deficit of €3.215 billion until June, which compares with a deficit of €721 million in the same period of 2021.
Iberian gas pipeline could cost Portugal and Spain €350M
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.
Bond yields up across all maturities for 3rd day in a row
This Friday morning, yields on Portuguese two-year bonds rose to 0.914%, up from 0.852% the day before.
ECS funds sold for around €850 million
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.
Growth in Brazil and exchange rates boost TAP’s results
The company significantly increased the number of passengers carried at Brazilian airports in the second quarter. The exchange rates also helped TAP.
Sporting increases share capital to €150 million
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.
Portugal’s economic activity slowed again in July
The Bank of Portugal's coincident indicators for economic activity and private consumption slows for the third consecutive month.
E-REDES invests 550M in power grid from 2023 to 2025
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
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%).
Mozambican businessman pays €42M for luxury hotel in Lisbon
Carlos Camurdine, one of Mozambique's biggest businessmen, is the new owner of The Fontecruz Lisboa Hotel.
TAP’s market share falls to 28% in Q2
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
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%).
Azores airline group breaks daily passenger record
The Sata group recorded a new daily record for passenger transport on Saturday with 10,961 people.
Iberian mechanism generated 15.3% electricity savings
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
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%.
Israeli chain Max Stock prepares to enter Portugal
Max Stock is preparing to enter the Portuguese and Spanish market, in partnership with Fortera Properties.
Japan Tobacco International has new leadership in Portugal
Lucas Chazarreta, 42, has been with JTI since 2004, and arrives in Portugal from Mexico where he was General Manager.
TAP restructuring plan implemented successfully – Ministry
The country's ministry of infrastructure said on Tuesday the TAP restructuring plan "is being carried out successfully."
Iberdrola brings Setúbal photovoltaic power plant online
The photovoltaic power plan in the Setúbal district, became operational last Friday and is one of seven projects awarded to the company in a 2019 auction.
More tourists in Lisbon, Funchal, Porto than before Covid
In June, Lisbon recorded 1.3 million overnight stays, representing 17.9% of the country's total.
TAP repudiates attacks on its competence
TAP's executive committee says workers' pay cuts can only be lifted after the end of the restructuring plan in 2025.
Merlin Properties pays €112.2M for Novobanco headquarters
Spanish Merlin Properties has won the race to buy the former historic headquarters of BES on Lisbon's Avenida da Liberdade.
State authorises €112M for work on North, Douro rail lines
In total, 99.8 million euros are planned for the electrification of the Douro line between Marco de Canaveses and Peso da Régua.
EC ‘supports, encourages’ Iberian-EU gas interconnections
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.