CGD’s recapitalization not included in the deficit
Marques Mendes assures the Statistics Portugal agreed the amount injected in CGD will not be accounted for in the deficit. He also revealed that growth will be very positive in the first quarter.
Portugal has been “junk” for 2,118 days.
Only DBRS gives Portugal the rating which keeps it connected to the ECB. S&P, Fitch and Moody's continue to give Portugal the "junk" status. It has been over 2,000 days. When will it be enough?
Aethel Partners wants to block the sale of NB
Aethel Partners, the British society headed by Ricardo Santos Silva, told its lawyers to block the sale of Novo Banco to Lone Star. The company had been interested in acquiring the transition bank.
Altice may wipe out the names PT Portugal and Meo
The French group Altice wants to embrace a global brand for all its markets. In Portugal, the group may only keep the brands Sapo and Moche.
Haitong must go to school, says the BdP
After announcing their restructuring plan and the capital increase, Haitong will also have to go to school: since their managers are not from Europe, they must learn the European banking rules.
Portuguese public debt plunges in 2021. How?
In the Stability Programme, the Government says they will, in just five years, cut down public debt by more than 18 points. How can the mystery of public debt reduction be explained?
Paying less to women may limit contracts
The measure should be completed by the first of March, to later be presented to the social concertation.
Income rise and deficit reduction in Portugal?
The Finance minister is counting on 248 million to progressively remove the civil servants career promotions' freeze; he is also counting on 200 million to improve lower incomes.
“Selective default” risk for NB’s bond exchange
The Canadian agency believes there is the risk of selective default for the senior bond exchange in Novo Banco. DBRS places the rating under review with negative implications.
Portugal will once again issue short-term debt
The Portuguese Treasury and Debt Management Agency wants to raise up to 1,250 million euros in 3-month and 11-month's Treasury bills. It will do so only two days after DBRS rates the Portuguese debt.
Banking toxic assets more than double in one year
Toxic assets made the Portuguese banks pay 6 billion euros last year - meaning 16 million euros per day. The amount weighted in on results, but not on the bank's capital ratios.
Agreement on swaps: 2.9% for Santander’s loan
Portugal has reached an agreement with Santander concerning the swaps conflict. The Government will pay 529 million in outstanding interests and will maintain swaps currently worth 1,119 million.
INE revises the 2016 deficit downwards to 2%
The INE - Statistics Portugal - revises the 2016 deficit downwards to 2%, in comparison to the 2.1% initially foreseen.
Portugal obtains 1,250 million. Interests decrease
This Wednesday, Portugal raised 1,250 million euros in five and eight-year government bonds. Cost decreased considerably in both maturities.
Galp’s CEO earned 1.6 million euros in 2016
Galp's CEO earned 1.6 million euros in 2016, which means the executive committee's income increased 10%. From the PSI-20, so far, only Mexia's salary, EDP's CEO, surpassed Gomes da Silva's earnings.
The average Portuguese earns 72.4% of gross salary
The average Portuguese employee pockets 72.4% of their gross salary. The percentage was revealed this Tuesday by the OECD in their "Taxing Wages 2017" report.
“If De Guindos is available, he has our support”
The Portuguese prime minister has once again repeated the accusations against the Eurogroup president. He also stated he would support Luis De Guindos if he wants to replace Dijsselbloem.
Vestager: nationalizing NB was never on the table
The European commissioner for Competition says the government never presented plans to nationalize Novo Banco - a solution, she says, would go "against the commitments made on the resolution of BES".
REN increases capital to acquire EDP’s gas unit
After the sale of Naturgas in Spain, EDP has now sold EDP Gas to REN, which will make a 250 million euros' capital increase to finance the operation.
Novo Banco already has a new management
ECB approved almost every new member of the bank's administration. It will have four new managers and keep two from the previous committee. Rui Cartaxo is chairman and the CEO is António Ramalho.
No minister suggested Dijsselbloem’s dismissal
The Eurogroup president stated his dismissal was not discussed in today's meeting. When entering, Mourinho Félix told Dijsselbloem his statements were "shocking".
PM’s accusation reinforces investors’ proceeding
Large investors - such as Pimco and BlackRock -, who lost money on BES's debt have found a strong argument for the proceeding they filed against the Bank of Portugal.
Portugal: working force surpasses European average
The cost of the Portuguese work force is, nonetheless, the sixth lowest in the Euro Area.
Fitch gives junk status to CGD’s issued debt
The rating assigned by Fitch to CGD's perpetual debt securities is three notches below CGD's viability rating, in accordance to Fitch's criteria.