Portuguese museums attracted 17.2 million people this year

ECO News,

People are more and more interested in going to museums, to the cinema and attending cultural events. Last year, mostly due to the increase in tourists, the number of museum visitors increased.

November inflation slowdown confirmed as prices up 0.4%

ECO News,

CPI was up in November by 0.4%, increasing by 0.9% year-on-year. In November the average year-on-year rate of overall inflation over the last 12 months was 1.1%, the same average as in October

14 CGD managers risk being vetoed by the ECB

ECO News,

The managers which were in charge at CGD between 2005 and 2008 and who want to get other positions in the banking sector might have difficulties doing so, as the ECB now holds EY's audit results.

Self-employment was the solution for 15% of the Portuguese

ECO News,

In Portugal, 15% of the people who did not find a job, decided to invest in their self-employment. Romania, however, was the EU country in which unemployment originated self-employment the most.

Consumer credit rises 14%

ECO News,

Portuguese banks increased concession of consumer credit in October, according to the Bank of Portugal. Consumer loans reached €397m in October, up from €353m in September.

Housing loans increase, after three-month dive

ECO News,

Banks granted €811m on new housing loans, in October. An increase of €22m in comparison to September and a €105m year-on-year jump.

Portugal pays its debt to the IMF today, saving €100m

ECO News,

Mário Centeno announced this Monday that Portugal pays today the entirety of the debt owed to the IMF. With the last reimbursement of €4.7bn, Portugal is saving €100m in interest rates.

GalpGate: former secretaries of state won’t go to trial

ECO News,

The three former secretaries accused in the travels case to the Euro 2016 will have to pay a fine of around €4000 instead of going to trial.

Bans on tourist accommodation don’t stop real estate owners

ECO News,

It's been a rats race ever since the news on the new legislation to halt new tourist accommodation have been announced. As some areas banned new accommodation, new ones started to be pressured.

Moody’s outlook of the national banking system is “positive”

ECO News,

The fall back in non-performing loans in our banking system has helped with the improvement in Moody's rating of our financial system. It changed its outlook to positive.

ENI finds oil well with potential of 200m barrels in Angola

ECO News,

The Italian oil company announced this Monday that it discovered a new oil well in Angola, which has the potential to produce around 5,000 barrels a day, or up to 200 million barrels in total.

Moscovici defends the creation of a “Eurozone budget”

ECO News,

The Commissioner for Economic Affairs, Pierre Moscovici, and the Portuguese PM, António Costa, were debating the future of Europe in Lisbon this Thursday, at ISEG. Moscovici wants a "Eurozone Budget".

Bank of China and CGD sign protocol to issue panda bonds

ECO News,

CGD and the Bank of China will "very soon" proceed with the issuance of panda bonds, the leader of the Portuguese bank, Paulo Macedo, told Reuters news agency this week.

Angola only produces 6% of the rice it consumes

ECO News,

Angolans consume an annual average of 400,000 tonnes of rice and produce only 25,000, importing the remainder. In terms of meat, the situation is similar. To revert it, the country needs investors.

BdP asks banks to be cautious with distribution of dividends

ECO News,

BCP and CGD will distribute dividends to its shareholders for the first time since the crisis, yet the banking regulator is asking the banks to proceed cautiously and adopt sensible strategies

President schedules general elections for 6th of October

ECO News,

Portugal will have three electoral runs next year: on the 26th of May (European elections), 22nd of September (Regional elections in Madeira) and on the 6th of October (legislative elections).

Government discusses minimum wage: “Starting point” is €600

ECO News,

The government is due to discuss the minimum wage increase with social partners this Friday. The starting point is €600 and the government will accept higher values if "an agreement is reached".

Grapes and 5G: what have China and Portugal agreed on?

ECO News,

Jinping's visit to Portugal was rather fruitful. In total, 17 different deals were signed between companies and institutions from both countries, going anywhere from 5G connections to table grapes.

IGCP deals €1.9bn in bond exchange operation

ECO News,

The IGCP had said when announcing the operation that its aim was to reduce the state’s interest payments and extend the maturity of its debt burden.