Tesla sales fall 25.7% in Portugal at the start of the year
Elon Musk's electric vehicle manufacturer suffers the biggest drop among the main brands on sale in Portugal, in a move that has been seen across Europe.
Tuk tuks banned from hundreds of Lisbon roads from Tuesday
The city council's order establishes a traffic ban on several streets in the parishes of Avenidas Novas, Arroios, Penha de França, São Vicente, Santo António, Misericórdia and Santa Maria Maior.
MB Way transfers to Spain, Italy now possible
"The MB Way connection to Spain and Italy is now operational, allowing MB Way users to send and receive money instantly to Bizum and Bancomat mobile phone numbers, respectively," SIBS said.
Unemployment falls to 6.4% in February
The labour underutilisation rate stood at 10.9%, an increase on the previous month (0.1 p.p.), but down on three months earlier (0.1 p.p.) and the same month in 2024 (0.4 p.p.).
Foreign minister sees ‘great alignment’ with UK
"There is great alignment between the two oldest allies in the world in terms of defence," Paulo Rangel said after meeting with the Secretary of State for Foreign, Commonwealth and Development Affairs
Fidelidade receives indicative offers for Luz Saúde in April
Information memos were sent to potential investors this week, according to Mergermarket. ICG and Ardian will be analysing. ECO understands that US-based Advent has also received an invitation.
House rents ended 2024 with a 9.3% rise
Greater Lisbon and the Setúbal Peninsula lead the way in annual prices, with rents above the national average of 7.97 euros per square metre.
Court insists on judging Sword founder in California
Virgílio Bento claimed that the San Francisco court had no jurisdiction to try him in the case between Sword and the American A2 Academy. The judge didn't agree and the case might go ahead.
EDP CEO faces shareholders after “turbulent” months
Pressure on the US and financial results, a fall in EDP Renováveis shares, several price target cuts and a drop in worker confidence. Stilwell faces shareholders after a turbulent quarter.
TAP’s results fall short of its peers before privatisation
Stagnating revenues and a sharp drop in profits have given TAP a worse year than the companies that want to buy it. Profitability remains an asset.
Two people made suspects in football corruption probe
These are the only two suspects so far, but there may be more, on a day when the Judicial Police (PJ) searched several premises, including the FPF headquarters.
TAP’s profit sinks 70% to 54 million euros in 2024
Extraordinary labour provisions and foreign exchange losses impacted the profit, but the airline emphasised the positive result achieved for the third consecutive year.
Galp’s refinery to shut down for 50 days this year
The scheduled stoppage will be used to guarantee the replacement of equipment, taking into account its life cycle at the 47-year-old plant.
Portuguese patent applications hit record in 2024
"Portuguese companies and inventors filed 347 patent applications with the EPO in 2024, an increase of 4.8% on the previous year," revealed the Patent Index 2024.
EU sees portuguese copper, lithium mining projects as key
The new Critical Raw Materials Act seeks to ensure that the extraction, processing and recycling of strategic raw materials meets 10%, 40% and 25% of EU demand respectively by 2030.
Novobanco shareholders approve dividends of 224.6 million
The AGM also approved the payment of 60 per cent of each year's profit. The bank has a further 3.3 billion to return to shareholders over the next 3 years.
Garrigues advises banks on Novobanco IPO
The law firm Garrigues is providing legal advice to the banks selected for Novobanco’s initial public offering. The team is led by Marta Graça Rodrigues.
Expats want electronic voting for 2026 presidential election
This was one of the conclusions of the meeting of this regional body of the Council of Portuguese Communities (CCP), which met last week in Lisbon.
Start Campus to begin 2nd phase of data centre by end-June
The second phase of the more than eight billion euro project will start in the second quarter. The company told ECO that it ‘continues to drive the emergence of a new AI hub’.
EDP wants to cut up to 7% of its workforce in Portugal
After losing 3.8% of its workforce in the domestic market in 2024, the company has invited more than 100 workers to leave through agreed terminations and around 300 through early retirements.
House prices rose 9.1% in 2024
According to Statistics Portugal (INE), the house price index rose by 9.1% in 2024, 0.9 percentage points more than in 2023, with existing homes rising by 9.7% and new homes by 7.5%.
Lisbon hotels almost completely full for Easter
"Hotels are practically full. What little is left will be filled with last minute bookings, but expectations will be the same as last year: almost 100%”, said the Lisbon Regional Tourism Authority.
Mota-Engil signs deal to build DRCongo deep-water port
According to market sources consulted by ECO, the contract is likely to be valued at around 250 million dollars (around 230 million euros).
JYSK opens its first technology hub in Portugal
The brand specialising in rest, furniture and decoration will open a technology centre in Lisbon and expects to hire between 10 and 15 workers by the end of the summer.