Country may face some export difficulties in 2019
The doubts surrounding Brexit can ultimately cause constraints in Portuguese exports in 2019, according to the Portuguese economy minister. The UK is a "very important client".
PM ‘regrets’ UK vote, hopes the UK avoids disorderly Brexit
"I regret that it was not possible to approve the agreement, which was negotiated at length between the European Union and the British government", the PM said.
Portugal has 8th heaviest corporate tax burden in the OECD
OECD’s report analyses and compares the taxation system in 88 different countries. Portugal has the 8th highest corporate tax burden in the analysis.
Tourism sector witnesses sharp deceleration
Despite the slowdown, the tourism sector is still highly profitable with hotels' revenue continuing to grow, meaning that tourists are paying more and more to stay in Portugal.
REIT’s can also invest in offices and malls
Real estate investment and management societies, commonly known as Real Estate Investment Trusts (REIT), can now invest in construction projects in the rehabilitation of residential real estate.
“It is completely democratic to hold another referendum”
Without a doubt, the United Kingdom has benefited greatly from becoming a member of the EU. Competitiveness and openness to other markets have changed the way things were done in the UK.
No-deal Brexit to limit UK rights of Portuguese latecomers
If there is a no-deal Brexit, only Portuguese nationals who have entered the country by 29 March will be sure of obtaining a residence permit, almost two years earlier than previously foreseen.
Drop in industrial output 2nd-largest in EU, 3rd-largest YoY
Year-on-year industrial output in Portugal fell by 2.9%, behind Ireland (-9.1%) and Germany (5.1%). The largest increases in industrial production were felt in Estonia, Greece and Malta.
Indico sets venture capital funds in Portugal
The managers of these venture capital funds will have around €46m to invest in Startups in Portugal and Spain. Stephan Morais, Cristina Fonseca and Ricardo Torgal are in charge of these funds.
Transports dominate the National Investment Programme
Portugal’s National Investment Programme (PNI) for the period through 2030 foresees the spending of €21.95 billion on projects in the areas of transport, energy and environment.
Business creation increases by 12.2%, bankruptcies drop 6.3%
Lisbon presented the most significant amount of new businesses created in the country, with 15,829 new companies opening in the region in 2018, followed by Porto, with 8,179.
Council of Ministers approved the REIT’s
The Council of Ministers has approved this Thursday a legislative decree connected with the real estate investment and management societies, known as Real Estate Investment Trusts.
Companies expect exports to grow by merely 4.3% in 2019
The Office for National Statistics (INE) published this Thursday estimates for the evolution of 2019's exports. INE's survey to 3184 companies shows that a drop in exports is expected this year.
Portugal issues €4bn in 10-year bonds
BBVA, BNP Paribas, Credit Agricole, Morgan Stanley and Novo Banco will support the operation. Robust demand from investors reached €24 billion.
Debt still stops Moody’s from improving Portugal’s rating
The rating agency warned again about the high indebtedness level of the Portuguese, Spanish and Italian economies. High sovereign debt should still represent a constraint to Moody's ratings.
Modernisation of Douro’s railway line will cost €135 M
IP, the state company responsible for the transport infrastructures in Portugal, said on Monday that the modernisation of Douro's railway would represent an investment of around €135 million.
House prices in Montijo and Alcochete up by 30% in 2 years
As the opening time for the new Montijo Airport slowly approaches, real estate prices in the region are starting to go up. The new airport of Lisbon will stimulate prices in Montijo and Alcochete.
Which electricity supplier should you choose?
2019 brings with it the largest drop in prices in the regulated electricity market, and free market suppliers are lowering their prices as well. Is it worth it changing to another supplier?
Angolan currency weakens further, at 355.7 kwanzas per euro
This Tuesday, the Angolan currency's value dropped slightly to a new historical low, being now traded at 355.737 kwanzas per euro, according to the information released by the National Bank of Angola.
Airport taxes will increase by 1.44% in March
Beja's airport taxes remain unchanged, while in the Azores taxes will go up by 1.38% yearly, and up by 0.01% in Madeira.
Fund implementation delays put pressure on the EU Budget
Outstanding budgetary commitments stood at €267.3bn in 2017, a new record for the EU. This value is going to weigh on future budgetary implementation plans.
The Startups on our radar in 2019
2019 is all about tech in the startup world. ECO talked with many specialists in the area in order to figure out which are the most promising startups in this new year.
Returning plastic bottles will be rewarded in Portugal
Big containers will be distributed decided the country, in many different shopping areas. The prize for returning the bottles is still to be confirmed by the minister.