Uber: Operations center is coming to Lisbon
The center will provide support to the company's operations in Europe and it will also create 250 direct jobs by 2018.
2018 Budget “could complicate” Portugal’s consolidation
The rating agency Moody's believes the measures inscribed in the Portuguese 2018 State Budget have very high costs.
Largest economic activity growth rhythm of the past 17 years
Economic activity continues growing in September, although private consumption decelerated in comparison to August.
Portugal’s indebtedness new record in August: 723.2 billion
Public administrations, companies and families' indebtedness reached a new peak in August, after the revision of the series. It increased to 723.242 billion euros, according to the Bank of Portugal.
Mourinho Félix: “A debt of 120% of GDP is manageable”
The secretary of state Assistant and of Finance acknowledges Portugal still has a high debt, but believes it is "manageable". On the deficit, he believes the reduction should not be accelerated.
Sonangol “will maintain” its position in BCP
Isabel dos Santos says she sees the relationship with the Portuguese bank being "reinforced and continued". She also highlighted: "I believe we will maintain our shareholder position".
Neeleman assures TAP will return to Oporto with new flights
In light of the stabilization of the airline, David Neeleman says he hopes to announce more destinations and flights from Oporto. But "he cannot wait" five years to have a new airport in Lisbon.
Moody’s: GDP grows, but NPL is still a threat for banks
The rating agency Moody’s maintained their "stable" outlook for the ratings of Portuguese banking, unlike what is happening with Portugal. This is justified by the weak quality of assets.
Eduardo Cabrita is the new minister for the Interior
Eduardo Cabrita is replacing Constança Urbano de Sousa as minister for the Inteiror. Pedro Siza Vieira will become the prime minister's new minister of State.
Weapons missing from Tancos found in a nearby village
The Portuguese Military Criminal Police has recovered the material allegedly stolen from the Tancos Military base. It was scattered in the woods of a nearby village.
It is official: Novo Banco has been sold to Lone Star
The Bank of Portugal, the Resolution Fund and Lone Star have signed the agreement handing in 75% of Novo Banco to the North American Fund Lone Star.
Record negative interests in short term debt auction
This Wednesday, Portugal was able to raise 1,250 million euros in short term debt, in a double auction for Treasury Bills which registered record negative interests.
Those who didn’t accept NB’s debt exchange are gaining 30%
NB's sale to Lone Star is imminent after the success of the debt repurchase. But those who rejected selling their bonds on the bank are benefiting from the strategy: securities rocket in the market.
Half of PSI-20 managers’ mandates are ending
Mexia isn't the only manager in Lisbon ending his mandate. Half of the listed companies in Lisbon's stock market will also have to elect new members next year. The Chinese will have a decisive say.
“Systemic risks” in limiting public funds in banking
The governor of the Bank of Portugal says the financial sector is getting stronger, but "it is not immune to risks". Carlos Costa also says regulation could end up "exacerbating systemic risks".
Flames burned over 316,000 hectares in Portugal this year
According to the European Commission's system, last Sunday alone, the worst day of the year in terms of the number of wildfires in Portugal, almost 54,000 hectares have been burned.
Novo Banco approves 750 million euros’ capital increase
The capital increase will be performed by Lone Star, Novo Banco's new owner. The banking institution will now have a 5,650 million euros' capital.
A Sunday of wildfires: 42 deaths, 71 injured, one missing
The President Marcelo Rebelo de Sousa reinforced the need to “take action” against the wildfires that are destroying Portugal. So far, 42 people have died, over 70 are injured and one is missing.
Consumer credit surpasses the four billion euros’ threshold
In the first eight months of the year, the Portuguese have requested a total of 4,276 million euros in consumer credit. In August, the total was 563.5 million euros.
Centeno promises a major structural cut on the deficit
IRS decrease will be paid for with the increase in other taxes and with dividends from the Bank of Portugal. Increase in expenses with benefits and salaries are compensated with other cuts in expense.
“Portugal would need 500 years to pay its debt”
In an interview to Público, Daniel Bessa, former Economy minister, stated that with Portugal's current economic growth levels, he would be able to get "at least" a zero deficit.
Companies’ profits will finance Portugal’s Social Security
Government wants part of the income from IRC (Company Tax) to be allocated to the Social Security's Financial Stabilization Fund.
Tourism slows down, but hotels’ invoice keeps increasing
Prices per room keep increasing - and quite a lot. Between January and August, the average revenue per available room was 51.7 euros; one year ago, it was 44.1 euros.
NB sells part of the Vortal business to the fund Vallis
The bank headed by António Ramalho sold its 36.65% stake on the electronic hiring company Vortal, following their strategy of alienating their non-strategic assets.