Autoeuropa pays double for mandatory work on Saturday
Autoeuropa has notified its employees that the factory will start functioning on Saturdays as of the end of January. Those who want to work on that day will receive double payment.
Portugal will reimburse 1,000 million euros to IMF
IGCP wants to return another 1,000 million euros to IMF over the next three weeks, taking advantage of the decrease in interests, elevating to ten billion euros the total amount reimbursed in 2017.
Lone Star hired a consultancy firm to assess NB’s managers
Lone Star is already the majority owner of Novo Banco and has hired a consultancy firm to assess the management and senior executives of the bank. The result may cause changes in the administration.
Portuguese Finance minister elected new head of Eurogroup
Portugal's Finance minister, Mário Centeno, was elected the new head of Eurogroup and will take over Joroen Dijsselbloem’s chair in February.
INE confirms: GDP grew 2.5% in the third quarter
The flash estimate from Statistics Portugal (INE) pointed to an economic growth of 2.5% between July and September, a percentage which was confirmed this Thursday.
Mário Centeno applied for the leadership of Eurogroup
After much speculation, the Portuguese Finance minister has really applied for the presidency of the Eurogroup.
The Government says the situation in Autoeuropa is “a risk”
The Labor and Social Security minister says it would be an illusion not to see Autoeuropa as a "risk" for Volkswagen. He urged negotiations to be pursued in order for a solution to be found.
Belmiro de Azevedo, 79, passed away this Wednesday
Belmiro de Azevedo, the leader of Sonae, has passed away this Wednesday. He was one of Portugal's richest men, who broadened Sonae's empire from retail to telecommunications.
Banking wants NPL platform to quickly clear banks’ balance
Banks want companies included in the NPL platform to be able to quickly lose that "stamp" in order to be able to start receiving financing again.
Nuno Amado: BCP’s debt issuance had a “satisfactory cost”
BCP went to the market to get 300 million euros in debt. It received several offers that led to a fall of the coupon to 4.5%, a cost which Nuno Amado believes to be "very satisfactory".
Unemployment retrieves to 8.5% in September
Final data concerning September point to a 0.3 percentage points' decrease in the Portuguese unemployment rate. INE estimates the rate will stabilize at 8.5% in October.
Major funds boycott BCP’s debt issuance
Large funds will boycott the Portuguese bank BCP's debt issuance, as they had previously done with CGD. These investors, among which stands Pimco and BlackRock, complain of the money they lost on BES.
Banking evaluation of houses reaches a new peak since 2011
The price per square meter in Portugal is assessed in 1,141 euros, in what is the highest amount since May of 2011. The banking evaluation of houses has been increasing for seven consecutive months.
OECD warns: external shocks will be a challenge for Portugal
OECD warns the Portuguese economy of the "particularly" difficult challenges it will face in case of an external impact. The Organization says there is little ability to handle an economic shock.
Airbnb hands in to Lisbon 3.1 million euros in tourist tax
The company has raised 3.1 million euros in tourist taxes in 2017, an amount that reaches five million euros since May 1, 2016.
Centeno has “the required qualities” to head the Eurogroup
The Commissioner for Economic and Monetary Affairs commends Centeno, but says there are several adequate candidates for the job. And "it might not be obvious that a socialist will head the Eurogroup".
Government’s goals for public deb are “too ambitious”
Fitch's research unit increased Portugal's score for political stability because of the approval of the SB. Concerning public debt, the forecast is worse: it should decrease, but less than expected.
CGD hires KPMG to sell 1,800 million euros of NPL
The bank headed by Paulo Macedo continues making an effort concerning non-performing loans. CGD has chosen KPMG to help sell 1,800 million euros in mortgage, business and real estate credit.
Isn’t Portugal bound to EU open internet rules?
Net neutrality is currently being discussed in the USA and Portugal is pointed out as an example of what would happen to a country with no open internet.
Companies receive funds to hold events in central Portugal
This is one of the Government's measures to support the recovery of the areas affected by this year's wildfires. Companies holding events in these regions will receive financial aids.
Portugal already has 25% of bonds with negative rates
ECB has been a good friend of the Portuguese debt. Over 26 billion euros in national bonds are negotiating with negative interests, decreasing the financing costs and the public treasury.
Economy’s indebtedness shrinks two billion in September
The indebtedness of public administrations, companies and families has decreased by two billion euros in September after it reached a peak in August, with the deleveraging of the public sector.
EC: Portugal is at risk of non-compliance
Brussels has formalized their opinion on the Portuguese 2018SB: there is a "great" risk of non-compliance with the budgetary commitments and countries need to take action.
Alexandre Fonseca is replacing Cláudia Goya as CEO of PT
It is now official: Alexandre Fonseca, former CTO, is PT's new CEO. Since Paulo Neves resigned, Cláudia Goya will replace him and become PT/Meo's new chairwoman.