Portuguese companies fear recession

ECO News,

Portuguese organisations are concerned about a possible global recession, even more than the financial impact of the pandemic on business. Most see the outbreak ending at the end of this quarter.

Santander Portugal to pay suppliers promptly

ECO News,

The Bank joins two others, BCP and the Novo Banco, which decided to anticipate payments to strengthen the liquidity of the companies with which they work.

Parliament approves renewal of State of Emergency

ECO News,

MEPs approved this Thursday the 15-day extension of the State of Emergency proposed by Portugal's President and supported by the Government.

Portugal attracts “record demand” for seven-year debt

ECO News,

The IGCP closed a seven-year syndicated bond sale on Wednesday. It issued 5 billion in an operation with six times the demand.

Portugal’s President wants to extend the State of Emergency

ECO News,

The President of Portugal has already signed the draft decree to extend the State of Emergency. This Thursday, the Assembly of the Republic must approve the extension.

About 85% of real estate agencies are closed down

Lusa,

According to a survey released on Wednesday, near 85% of real estate firms in Portugal have either stalled or reduced activity due to the coronavirus pandemic.

BCP anticipates payments to suppliers

ECO News,

BCP will stop paying suppliers within a 30-day period, instead it will pay weekly. The bank assumes to be "aware of the difficulties" that many companies are experiencing.

Opinion Covid-19 and Right of Exception

Guilherme Dray,

Care must be taken with these small (large) details and the precedents that are being created, which may later undermine democracy.

Central bank waives counter-cycle reserves

Lusa,

The Portuguese central bank has waived the need for banks to build up counter-cyclical reserves in the second quarter of 2020.

Portugal advances with a seven-year syndicated bond issue

ECO News,

The operation is known after the IGCP announced that it will issue more debt to meet the increased financial needs generated by the Covid-19 pandemic.

Portugal issues extra debt due to coronavirus

ECO News,

The agency that manages public debt announced an increase in the amount issued in both Bonds and Treasury Bills in the second quarter of the year.

Portugal’s Government notified the EU for new credit lines

ECO News,

Notification delivered in Brussels is for the launch of new credit lines up to a maximum amount of 7 billion euros. Trade and services, but also industry, will be the priority sectors.

Covid-19 death toll at 160, 7,400 infected

Lusa,

The number of people infected with coronavirus in the country continues to rise. Currently there are 7,443 confirmed cases, with the number of fatalities rising to 160.