Government sees deficit below GDP target of 4.3%

ECO News,

The budget deficit stood at €8,794 million in 2021, down €2,862 million from 2020. The figures suggest that the government's target will be met.


BES case set to be heard in February

ECO News,

Judge Ivo Rosa has already scheduled the first session for the opening of the case involving Ricardo Salgado for February.


Government highlights ‘excellent’ relationship with Ukraine

Lusa,

Portugal and Ukraine established diplomatic relations on January 27, 1992, but the first ambassador resident in Kyiv, Manuel Henrique Corte-Real, only presented credentials on December 19 1993.




Bank Millennium reinforces provisions for FX mortgage loans

ECO News,

BCP's bank in Poland said it had increased provisions as it continued to register negative trends in court decisions, concerning the so-called "Francowicze" case.





Brussels will assess RRP request by March

Lusa,

The EU confirmed this Wednesday that it had received Portugal's first request for payment of €1336 billion in the Recovery and Resilience Plan framework.


Sonae joins the Bloomberg Gender-Equality Index

ECO News,

The group headed by Cláudia Azevedo joins other Portuguese listed companies, such as Jerónimo Martins, Galp, EDP, EDP Renováveis and BCP in the Bloomberg Gender-Equality Index.



Portuguese unicorn buys Bright Technologies unit

ECO News,

Sword Health has acquired the software development startup Bright Technologies. The Portuguese unicorn is also recruiting 150 professionals in the areas of engineering and product for Portugal.


5G flight interference is a non-issue in Portugal

ECO News,

The risk of 5G interfering with the altimeters of some planes is causing a stir in the US but is a "non-issue" in Europe. ANAC is "monitoring" and TAP has already received guidance.


Portugal’s first recovery plan payment request presented

Lusa,

Before presenting the request, Portugal had to comply with 38 indicators contracted with the European Commission for this phase, 21 associated with reforms and 17 with investments.


Banco Efisa’s liquidation approved

ECO News,

The bank's closure was approved on March 21, and has since been confirmed by the Finance Ministry, and a liquidation commission has been appointed.



Pandemic measures worsened deficit by 2.6% until September

Lusa,

According to the Technical Unit for Budgetary Support (UTAO), the measures adopted to respond to the pandemic have worsened Portugal's budget deficit by about 2.6% of GDP.


Sonae Sierra refinances debt via sustainability-linked bonds

ECO News,

The property investment company, 70% owned by the Sonae group, assumes the "goal is to continue to link its corporate debt to sustainability criteria".


Efacec signs contracts worth over €30 million with REE

Luís Alexandre,

The contracts include the supply of over 20 power transformers for substations of the 400kV transmission network in Mainland Spain and the 245kV network in the Canary Islands.


Number of companies ‘at potential risk’ increased in 2020

Lusa,

according to the Bank of Portugal's new 'Regional economic and financial indicators of non-financial companies', the percentage of companies with losses "increased in all regions."


Employment rate in Portugal above pre-pandemic level

Lusa,

Besides Portugal, France, Australia, Greece, Hungary and New Zealand have their employment rates above pre-pandemic employment levels.