Budgetary deficit stands at 2.1% excluding CGD
This year started off with a 2.1% of GDP budgetary deficit, states Statistics Portugal (INE). Concerning the 12 months-period which ended in March 2017, deficit decreased to 1.7% of GDP.
Offshores’ list: there has been a “breaching of the law”
Maria Luís Albuquerque, former Finance minister, assures the Government has to involve the Tax and Customs Authority before removing regions from the offshores' black list.
Horta Osório: NPL must be “recycled” and “sold”
The CEO of Lloyds Bank highlights NPL is still one of the largest issues in the Portuguese financing sector. Horta Osório believes these credits should be "sold" to those who can manage them.
Portugal’s indebtedness reaches 723.6 billion euros
Public indebtedness and indebtedness from companies and families increased for the fourth consecutive month. Public administration made the strongest contribution.
Pedrógão Grande: 64 deaths and 254 injured
Death toll rises to 64 and there are 254 injured people in the Pedrógão Grande fire, in Leiria. Portugal's President speaks of painful moments, but states it is time to fight back and rebuild.
JD.com invests 356 million in Farfetch
A chinese group bought a stake in the luxury items' company founded by the Portuguese José Neves. The CEO of JD.com will be a part of Farfetch's board of directors.
Novo Banco: proposal to shareholders will be made in July
Novo Banco's shareholders will have to wait a few more weeks if they want to get to know the bond exchange operation proposal, much needed to go through with the bank's sale to Lone Star.
Portugal will have the largest growth since 2000, says BdP
The Bank of Portugal has made an upward revision of the 2017 growth for Portugal, pointing to 2.5%. The unemployment rate should return to 7% in 2019.
BIC is now called EuroBic
The bank BIC Portugal is now called EuroBic. The new entity of the bank headed by Teixeira dos Santos was presented this Wednesday.
Unemployed in job centers at its lowest since 2008
The number of unemployed has been declining for 44 months. In May, the Institute of Employment and Vocational Training (IEFP) had 432 thousand unemployed registered.
Record negative interests for Portugal in short-term auction
The Portuguese Treasury raised 1,250 million euros in three and 11 months' securities with even better rates, after Fitch opened the doors for an increase in the Portuguese debt rating.
Short-term issuance weights more in Portugal
Out of all Euro Area countries, the Portuguese sovereign debt is the one which presents shorter term issuances. It also stands out for being mostly held by companies and families.
Portuguese technology can prevent and fight fires
Portugal has products and ideas to mitigate fires. Yet, in a country tormented by them, the market does not seem open to this type of technology. ECO shows you five projects made in Portugal.
EDP is the most valuable brand in Portugal
The electricity company continues to be the front runner in the ranking of the most valuable companies in Portugal, compiled by Brand Finance, surpassing Galp. BCP suffers the sharpest plunge.
Hotel business has its best quarter since 2007
In the first quarter of 2017, Portugal had a total of 8.8 million overnight stays.
FT: 3 Portuguese schools among the best Finance MA
Programmes from Nova University, Catholic University and ISCTE made the list of the 60 best Finance MA in the world, according to Financial Times.
Only Spain has fewer job vacancies than Portugal
The job vacancy rate is the second lowest in the European Union. Even so, it had a slight increase in comparison to 2016.
If bond exchange fails, NB risks liquidation
The agency extended the rating revision of the bank who is about to be sold to Lone Star. Moody's warns: if the voluntary bond exchange fails, it increases the risk of liquidation for Novo Banco.
Fitch improves Portugal’s outlook
As Mário Centeno anticipated, Fitch improved the Portuguese financial debt outlook to "positive". Yet, Portugal needs to wait at least until December to see an increase in its rating.
“Europe believes in Portugal’s chosen path”
The Finance minister says that a year ago no one believed Portugal would be able to leave the EDP. Today, "Europe believes in Portugal's chosen path", Mário Centeno states.
Portugal lost 223 thousand residents in a decade
The increase in the number of births is insufficient to make up for the ageing population and the number of deaths. On the other hand, migration balance remains negative.
European Council: Portugal is leaving EDP
"Exiting the Excessive Deficit Procedure is a very important milestone for Portugal", stated the Portuguese Finance minister Mário Centeno.
Schäuble: Portugal’s bailout is a “success story”
Portugal requested Brussels' permission to repay 10 billion euros in advance to the IMF. And that is a sign of "success", says the German Finance minister.
Portugal will reimburse 1 billion euros to IMF
Mário Centeno revealed that as soon as he has permission, he will make a new early payment to IMF. His prediction is a reimbursement of over one billion euros by the end of the month.