Novobanco hires Linklaters law firm for IPO
The law firm led by Marcos Sousa Monteiro will provide legal support to the bank in the operation to list on the stock exchange, which is scheduled for May.
Government creates 30 million fund for tourism
The financing comes exclusively from Turismo de Portugal. Half is non-repayable and the other half is repayable.
PM to explain family real estate company to parliament
"I've already had the opportunity to say, there is a motion of censure that has been tabled, which deals with this matter, I will provide all the clarifications in parliament," said Montenegro.
Tech company and two Portuguese universities open AI hub
Closer Consulting will open a new AI hub in the first half of the year, as part of a partnership with Nova SBE and the Faculty of Sciences, with centres in Lisbon, Porto and Braga.
Mortgage rates drop below 4% for the first time in 16 months
The implicit interest rate on mortgages has been falling for 12 months in a row and is once again below the 4% threshold, for the first time since July 2023.
FT names Porto best European city for attracting investment
For four consecutive years, Porto has been one of the "European Cities of the Future" chosen by the Financial Times. Invicta outperforms cities like Antwerp, Glasgow, Leeds and Düsseldorf.
Government plans seven more consulates, five in Brazil
"I've been told that there's an idea to create seven more consulates, five of them in Brazil," said the portuguese President Marcelo Rebelo de Sousa.
Galp still in no hurry to sell assets in Namibia
‘It's clear to us that we're in no hurry. Although farm down is the natural solution in the future, there is no final timetable at this stage,’ says co-CEO Maria João Carioca.
Infrastructure minister denies end of peace at TAP
On Thursday, the union representing TAP's flight crew showed surprise at a new cost allowance scale and spoke of the "end of peace" between workers and company.
Portugal: 60% of banks controlled by foreign capital
Banks controlled by foreign investors or in which their capital is preponderant represent more than 60% of the Portuguese banking system, both in terms of assets and liabilities.
Pinto da Costa, president of FC Porto, has passed away
The former leader of FC Porto, aged 87, had been battling prostate cancer since his diagnosis in 2021. Defeated by André Villas-Boas in the latest elections, he led the Porto club for 42 years.
Average wages rose 3.8% in real terms to 1,602 euros in 2024
In 2023, total remuneration had risen in both cases: 6.7 % in nominal terms and 2.5 % in real terms.
Foreign tourists reach highest level since 2018
In 2024 tourist accommodation establishments recorded 31.6 million guests and 80.3 million overnight stays, reflecting annual increases of 5.2% and 4.0% respectively.
Spain’s Mercadona to add 10 supermarkets this year
Spanish supermarket chain Mercadona announced on Friday that it plans to open 10 more outlets in Portugal this year, Namely in Lisbon.
Novobanco CEO targets IPO for June or September
In a message sent to employees, Mark Bourke says that Novobanco's stock market listing could take place "at the end of the second quarter or at the end of the third".
President to swear in six state secretaries in reshuffle
This reshuffle was triggered by the resignation, on 28 January, of the secretary of state for local administration and spatial planning, Hernâni Dias.
Revolut is working to launch a Portuguese IBAN for 2 years
The British fintech company guarantees that the goal of creating an international account number and a branch will continue and will be completed by 2025.
REN’s CEO says he is worried about sacrificing profitability
Rodrigo Costa pointed out difficulties with the price of equipment and the availability of resources at a conference organised by the Energy Services Regulatory Authority (ERSE).
Galp and Eli Lilly lead Portuguese exports to the US
Portuguese exports to the United States rose 1.5% in 2024, to 5.3 billion euros, with the country remaining the main destination for shipments outside the European Union.
€1.49B in bonds auctioned for yields of 2.786% to 3.433%
IGCP auctioned €1.496 billion, below the maximum global indicative amount, in nine, 17 and 27-year Treasury Bonds (OT) at yields of 2.786%, 3.342% and 3.433%, respectively, it announced on Wednesday.
Govt. insists on lowering VAT on housing to 6%
The government is going to insist on reducing VAT to the minimum rate of 6% for housing rehabilitation and construction works, the infrastructure minister, Miguel Pinto Luz, said on Wednesday.
Trump’s tariffs ‘mow down’ maize producers in Portugal
The trade war between the US, Mexico and China is already causing "instability and volatility" in the markets. Pressure is mounting for Portugal to increase its corn self-supply, which is only 25%.
Government could sell 49% or more of flag carrier TAP
Portugal's government is considering selling at least 49% of the share capital of national flag carrier TAP, in a long-planned privatisation process that is expected to start in March.
Eastern Algarve beach town to get €158M luxury spa hotel
Lota beach, in Manta Rota, in Portugal's eastern Algarve district of Vila Real de Santo António, is to receive an investment of €158 million to build a luxury hotel.