Wine production to grow but less than forecast
At the end of July, the Institute of Vine and Wine estimated an increase in production for the 2023/2024 grape harvest of around 8% for a volume of 7.4 million hectolitres.
Stoppage at VW unit sees hundreds lose jobs at suppliers
According to the coordinator of Works Councils at the industrial estate, by last Friday Autoeuropa and its supplier companies had already confirmed the dismissal of 291 casual workers.
Mexico economic deal to focus on ports, energy
"We're working towards having something important to do together by the end of the year," said António Costa, the Portuguese PM.
Heatwaves, floods will have economic impact, says EC
Several European countries, including Portugal, have been affected by phenomena such as heat waves that are conducive to forest fires, floods caused by high levels of precipitation, among others.
Opposition party hopes to cut youth income tax to a third
PSD intends to reduce the income tax bracket for young people up to the age of 35 to a maximum of 15% (with the exception of the top bracket) from 1 January 2024.
Fruit, veg exports break €1B in H1 for first time ever
The results "counteract the downward trend in the value of exports that Portugal recorded in the first half and "confirm the strategic importance of the sector".
Airport numbers up more than 28% to 31.3M in H1
The UK was the main country of origin and destination of flights, with a growth of 23.7% in the number of passengers who disembarked, France ranked second, followed by Spain.
Venezuela to calculate damages caused by NB account freeze
The Portuguese courts had decided to unblock more than €1.3bn that was held in Portugal in accounts of Venezuelan institutions and companies at Novo Banco.
July inflation rate falls to 3.1%, 0.3 pp lower than June
In July, the month-on-month change in the CPI was -0.4% (0.3% in the previous month and nil in July 2022), while the average change over the last 12 months was 7.3%.
June goods exports down 3.4%, imports 7.6%
In June of this year, the trade deficit was €2.122 billion, or €496 million smaller than a year earlier. Without the fuels and lubricants component, the deficit swelled by €136 million to €1.522B.
Industry sales in Q2 down 4.7% YoY after Q1 increase
Sales to foreign markets were in June down 10.2% on the year (following a drop of 2% in May), resulting in a contribution of minus 4.5 percentage points to the aggregate index.
Azores Airlines adds more flights from Porto
The reinforcement of the Azores Airlines operation in Porto will take place "from next IATA winter" (which starts in October and runs until March 2024).
Growth service industry turnover slows to 5.8% in Q2
The turnover index in services registered a year-on-year increase of 4% in June, which "reflects a slowdown of 3.7 percentage points (p.p.) compared to the rate observed in May this year".
Record 56 cruise ships dock in Leixões in H1
According to APDL, the largest share of passengers in the first half of this year was from the UK (41%), followed by Germany (26%) and the US (20%).
Drahi speaks of shock of investigation into Altice Portugal
Following the 'Operation Picoas' investigation in Portugal, the company "immediately" placed 15 people on leave in Portugal, France and the United States.
Banco Montepio recurring net income in H1 triples to €67.8M
In a statement sent to Portugal's Securities Markets Commission (CMVM), Banco Montepio added that its Common Equity Tier 1 ratio and the Total Capital ratio (fully implemented) at end-June were 14.4%
Altice Portugal revenues up 13% in H1 to €1.417B
In the second quarter, EBITDA totalled €254 million (€245 million in the first quarter), an increase of 9.5% compared to the same period in 2022.
Insolvencies up more than 23% in July, new companies down 9%
Compared to 2022, insolvency declarations requested by third parties increased by 20% in the first seven months of 2023 (75 more requests).
Government green lights €331.4M for Lisbon Metro expansion
The amount initially foreseen, in 2018, for the expansion works of the Lisbon Metro, namely for the extension of the Yellow and Green lines from Rato to Cais do Sodré, was €210.2 million.
Government to launch €70M programme for hydrogen production
The investment is under the REPowerEU, a European Commission proposal to end Russian fossil fuel dependence before 2030 in response to Russia's invasion of Ukraine in 2022.
Auchan buys Dia’s supermarket operation in country for €155
The Dia Group leaves the Portuguese market to focus on its strategy - proximity food distribution - in the markets that are most relevant to its business.
Catholic church to relaunch pope’s global education pact
The meeting that Pope Francis will have on Thursday morning with students at the Portuguese Catholic University, "a moment full of meaning for the whole world of education".
Solar energy covers 10% of consumption for first time
Electricity consumption decreased by 5.4% in July compared to the same period last year, a decrease "influenced by the moderate temperatures experienced this month, unlike last year".
Government signs €24M investment contract with Altice Labs
For the project, "15 highly qualified jobs will be created by Altice Labs for its R&D activities".