Novo Banco: Government hopes the 2019 loan will be smaller
The State lent 430 million euros to Novo Banco this year, but Ricardo Mourinho Félix says the negative impact of these "significant impairments" will not be repeated in 2019.
Takeover bid: Are the Chinese allowed in EDP’s meetings?
EDP has sent a requirement to the regulator to know if the representatives of China Three Gorges can be present in the company's meeting during the takeover bid.
Finance ministry released 430 million for injection in NB
The Finance ministry lent the Resolution Fund 430 million euros for an injection in Novo Banco, an amount that should stand below the maximum amount of 450 million euros that was foreseen.
Portugal is the 33rd most competitive economy
The list is made by IMD World Competitiveness Centre, which increased Portugal's place in the ranking because of the improvement in the economic growth and in the business and governmental efficiency.
Sonae dismisses small investors from stock market placement
Small investors will only be able to buy shares from Sonae's retail portfolio when the new company is listed in the Lisbon stock market.
Portuguese public debt increased in March to 126.4% of GDP
Portuguese public debt according to Maastricht, the definition that matters to Brussels, reached 126.4% of GDP in March, according to data from the Bank of Portugal.
Private sector tosses indebtedness to minimums of 2010
A deleveraging in families and private companies help decrease the Portuguese economy's indebtedness in March. Assuming its weight on GDP, debt retrieves to the smallest amount since 2010.
EDP’s takeover bid and Siza Vieira, the minister of State
As a lawyer, Siza Vieira cooperated in a law that made a Chinese takeover bid on EDP easier. As a minister, he met CTG. Lastly, he asked to be excluded from intervening in the electricity sector.
Home interests rise again, reaching maximums of 17 months
The interest rate on housing loans increased for the second consecutive month to 1.031%. With this new increase, home interests reached levels that had last been registered in 2016.
CGD is close to concluding the sale of two NPL portfolios
The bank headed by Paulo Macedo wants to sell two NPL portfolios this year. "The proceedings are well under way", CGD stated in the conference call for the quarterly results.
The Chinese Dagong improved Novo Banco’s rating
The Chinese agency Dagong improved Novo Banco's rating, but kept it in a speculative investment grade.
The Spanish from CaixaBank already own almost 94% of BPI
The Catalan group continues to reinforce its stake on the Portuguese bank by purchasing more shares in the market. It only needs a little over 6% to fully own BPI.
NB will receive a 792 million euros’ injection
The 792 million euros' injection in Novo Banco will be concluded in the next couple of days, Ricardo Mourinho Félix assures. The injection is a reinforcement, after the bank's record losses in 2017.
Horta Osório: NPL “causes significant uneasiness abroad”
The CEO of Lloyds Bank compliments Portuguese bank's efforts to solve the NPL issue, but advocates for the need to do more. Internationally, the high level of NPL creates "uneasiness", he says.
Changes in the law help the Chinese takeover bid to EDP
The Portuguese Executive changed the Securities Market Code, namely an article related to the joint liability for the voting rights of shareholders from companies that are connected with each other.
Portuguese ten-year rate in maximums of two months
Portuguese debt interests worsen, in sync with its peripheral peers, conditioned by the perspective of a debt pardon of 250 billion euros by the ECB from an Italian partisan coalition.
EDP Renováveis signs contract to sell Texan energy
The company head by Manso Neto concluded a 15-year contract with a company in the industrial and commercial segment for the sale of energy produced by a wind project in Texas.
Mutualista won’t search for a new owner for Montepio Seguros
Associação Mutualista will not search for possible candidates to purchase Montepio's insurances in a near future, given that the regulator rejected the deal with the Chinese from CEFC.
Portugal and Angola are preparing PM’s visit to Luanda
After welcoming the Portuguese Defense minister, João Lourenço is now meeting António Costa. Those in charge of the Portuguese and Angolan diplomacy are preparing the meeting.
Portugal gets 1,750 million in short-term debt
Once again, IGCP had negative rates, but interests increased both in six and 12-months' maturities. The rate stood at -0.272% in the one-year maturity.
EDP’s General Supervisory Board will meet today
EDP's General Supervisory Board will meet, following the Board of Directors' statement that the price offered by China Three Gorges is low. Luís Amado will head the meeting.
The takeover bid price “does not reflect EDP’s worth”
The consideration for the takeover bid does not reflect EDP's worth, and the prize is low in comparison the price registered in European utilities for similar acquisition situations.
Growth, debt and banking are blocking Portugal’s rating
Moody's acknowledges the economic progress made in Portugal, but it continues to consider that the moderate growth, high debt and weak banking are barriers to an increase in the country's rating.
EDP won 1.1 billion euros in a day
EDP's shares ended this Monday's session with a 9% increase, surpassing the takeover bid value. In a day, the market value increased 1.1 billion euros, with investors betting on a price revision.