Altice: Portugal doesn’t grasp the importance of investments
Armando Pereira, co-founder of Altice, criticized the Portuguese Government for not acknowledging the importance of the company's investments in Portugal; however, he states the company will not stop.
Indebtedness reaches a new record: 724.4 billion euros
Administration indebtedness from families, companies and the State has reached a new maximum. Even so, the increase in GDP could accommodate these rises.
Portugal has the third largest public debt of the Euro Area
Both in an homologous and quarter-on-quarter comparison, Portugal has increased its public debt. It surpasses the limit by more than double.
CGD’s impact on the deficit will be decided in September
The Euro Area deficit decreased to 0.9% in the first quarter. In Portugal, the deficit stands at 0.5%, excluding the impact of CGD's recapitalization. Eurostat's decision will be made in September.
PSD forces the left to vote the 630 millions banking pardon
The Social Democratic Party (PSD) wants the Government to revise the conditions of State's loans to the Resolution Fund, to avoid costs for taxpayers. Deputies will present a resolution project.
BES: Court of Appeal overturns Trial Court’s decision
Court of Appeal overturns the Trial Court's decision concerning a proceeding headed by Rute Sousa and Ricardo Ângelo, president of the Association of BES former clients.
Portugal states they do not oppose sanctions to Venezuela
The Spanish newspaper El País stated that all 27 member States had agreed with sanctioning Venezuela, except for Portugal. Foreign Affairs deny this information, adding the issue was never discussed.
Economic climate hadn’t been this good since June 2002
Private consumption continues rising, as well as exports, states INE. In addition, the number of unemployed registered in unemployment centers continues decreasing.
Portugal beats EU when it comes to house prices
In 2017, housing prices in Portugal had an 8% increase - much more than the European Union and Euro Area percentages.
Portugal raises 1,750 millions with negative interests
Portugal was able to self-finance with interest below zero in a short-term double auction. The 12-months rate was negative: -0.259%.
Government gives Portuguese banking a 630 millions pardon
The State's loan to the Resolution Fund was updated and assessed at a negative net value of 630 millions, the Parliament's experts estimate. In the original conditions, that amount was almost zero.
CGD ackowledges “pressures” and “management mistakes”
Unlike the first version, the final report on CGD acknowledges "situations of intervention and pressure" and does not exclude "management mistakes". The document was voted down this Friday.
Claudia Goya will be Meo’s new CEO
Altice has found a replacement for Paulo Neves. The new CEO of PT Portugal is Claudia Goya, coming from Microsoft. She is taking office effective immediately.
EC foresees more than a 2.5% growth for 2017
"We want to turn Portugal into a tremendously successful story", states Pierre Moscovici, commissioner for Economic and Monetary Affairs, who is vising Lisbon.
Lisbon subway: strike is scheduled for August 1 and 3
August will begin and Lisbon will have inactive trains in its subway. Lisbon Metro (Metropolitano de Lisboa) has warned the Environment Ministry about the strike.
The sale and purchase of houses returns to 2010 levels
In 2016, the real estate market returned to 2010 levels. The sale of new dwellings had an 18.5% increase last year. The number of licensed buildings also increased.
Paulo Neves becomes the new chairman of Altice Portugal
Altice will promote Paulo Neves as executive chairman of the group in Portugal; he will take office after regulators approve the operation for Media Capital. PT Portugal will have a new CEO.
Taxation: only two countries are worse than Portugal
Portugal stood in the bottom three places among OECD's 35 countries. The Republic's tax policies are not competitive enough.
Car credit reaches five-year record
In May, the Portuguese borrowed almost 252 million euros to invest in cars. It is the highest amount ever recorded by the Bank of Portugal, whose data goes back to the beginning of 2013.
Life in Lisbon costs 232€ more than the Portuguese average
The expenses of families who live in the metropolitan area of Lisbon are, on average, 13.7% higher than the monthly average of Portugal. Most of the spendings go to housing, food and transports.
Impresa breaks the silence about the TVI/Meo deal
The Impresa group reacted to the purchase of Media Capital from Meo (Altice). It asks regulators to take into consideration the principles of "fair competition" and "pluralism".
Euro Area inflation decreases. Portugal stands below average
The prices of telecommunications fell 1.8%. This one segment took away one percentage point to the inflation rate.
CGD hires Société Générale to sell the bank in Spain
CGD has chosen the bank that will support the sale of its operations in Spain. CaixaBI will also be involved in this operation. The Finance Ministry still needs to authorize the sale.
Do you remember Boone? “Speculator” will sue Portugal
Peter Boone was accused of conspiring to reduce the value of the Portuguese debt; after seven years, he was able to confirm his innocence. The "speculator" will now counter-attack the State.