Banco Montepio posts losses of €33 million in H1
296 workers left the group during the first half of the year, while at the same time the bank is implementing a restructuring plan that will lead to the departure of up to 900 workers.
GDP growth ‘historical maximum’, shows economy recovered
Pedro Siza Vieira said on Friday that the growth of GDP reached "a historic maximum" and that the economy "recovered well" against the Covid-19 pandemic.
Zara’s owner buys 12% of REN
Amancio Ortega became the second-largest shareholder of the Portuguese company.
Portugal’s GDP grows 15.5% in Q2
Statistics Portugal (INE) published this Friday the flash estimate for the evolution of GDP in the second quarter. The quarter-on-quarter growth rate was 4.9%.
Novo Banco and Apollo submit bids for EuroBic
The Apollo fund and Novo Banco have submitted bids to take over EuroBic. The bank led by António Ramalho is interested in the corporate loan portfolio.
Sonae swings to profit in 2021 H1
Sonae says the second quarter was "encouraging". Sales grew over 5% to €3.2 billion in the first half of the year, with Continente and Worten standing out.
EDP’s profit up 9% to €343 million in H1
The company’s performance was penalised by the rise of energy prices in the Iberian market and by below-average wind resources in the US.
Portugal to loosen Covid-19 restrictions starting August 1
The loosening of restrictions will be done in three phases, following the pace of vaccination against Covid-19.
3,009 new cases and ten deaths by Covid-19 in Portugal
Since the start of the pandemic, Portugal has had 963,446 cases and 17,330 deaths from Covid-19.
Unemployment rate falls to 6.9% in June
Statistics Portugal (INE) reported that the country's unemployment rate was 6.9% in June, 0.1 percentage points lower than in May.
Navigator launches €100 million bond loan with ESG criteria
Banco BPI and CaixaBank were the advisors on the structuring of the Navigator Company's bond loan.
Consumer confidence slips to below pre-pandemic level
The economic climate indicator also decreased in July, after having increased between March and June, but it remained at a level above that of March 2020, the Statistics Portugal (INE) show.
Population loss worrying, Portugal needs immigrants
Portugal today has 10,347,892 residents, 214,286 less than in 2011, according to the preliminary results of the 2021 Census.
Jerónimo Martins’ profit up to 79% in H1
Jerónimo Martins recorded sales of almost €10 billion in the first semester. The retailer invested €200 million of the €700 million planned for this year.
‘Politicians worn down by pandemic, system needs renewal’
Portugal's President highlighted the effects of the pandemic on people, stating that it left many exhausted and that it represented "the reformulation of personal and institutional projects."
‘No reason to question the long-term goals’ – GreenVolt
On the day the group's first half results were announced, with profits of about €1 million, Manso Neto stressed that the commitment is to achieve "growth of 40% a year until 2025."
Last 24 hours see 13 deaths, 3,452 new coronavirus cases
The area of Lisbon and Tagus Valley with 1,341 cases and the North region with 1,194 have 73.4% of the total of new infections in the last 24 hours.
Santander Portugal profit fall more than 50% in H1
The bank led by Castro e Almeida recorded a net profit of €81.4 million, a drop of 52% compared to the first half of 2020.
Investment in golden visas totalled €237.6M in H1
By June, 9,230 visas had been granted for the purchase of real estate, of which 874 were for urban rehabilitation.
Volume of cargo handled by mainland ports up 36.4% in May
The port of Sines contributed most to the increase, which in May, by recording a year-on-year increase of 80%, set an accumulated growth of 17.9%, corresponding to three million tonnes more.
First payment of EU recovery fund to be made next week
The European Commission will make the first payment of the Recovery and Resilience Plan (RRP) to Portugal next week.
Porto-Vigo link Euroregion’s ‘greatest conquest’
The president of the Galician regional government said that the Porto-Vigo high-speed rail link was "the greatest achievement in terms of political momentum that the Euroregion has achieved in years."
Aquila Capital and Axpo secures PPAs for solar PV Portfolio
According to the two companies, Axpo Iberia will provide representation services for the plants and will purchase 100% renewable energy from Aquila Capital, an investment company.