Budgetary deficit stands at 2.1% excluding CGD

ECO News,

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.

Pedrógão Grande: 64 deaths and 254 injured

ECO News,

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

ECO News,

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.

BIC is now called EuroBic

ECO News,

The bank BIC Portugal is now called EuroBic. The new entity of the bank headed by Teixeira dos Santos was presented this Wednesday.

Short-term issuance weights more in Portugal

ECO News,

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

ECO News,

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

ECO News,

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.

If bond exchange fails, NB risks liquidation

ECO News,

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

ECO News,

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.

Portugal will reimburse 1 billion euros to IMF

ECO News,

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.