Banco Montepio posts losses of €33 million in H1

ECO News,

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.



Zara’s owner buys 12% of REN

ECO News,

Amancio Ortega became the second-largest shareholder of the Portuguese company.


Portugal’s GDP grows 15.5% in Q2

ECO News,

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

ECO News,

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

ECO News,

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

ECO News,

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.




Unemployment rate falls to 6.9% in June

Lusa,

Statistics Portugal (INE) reported that the country's unemployment rate was 6.9% in June, 0.1 percentage points lower than in May.



Consumer confidence slips to below pre-pandemic level

Lusa,

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.



Jerónimo Martins’ profit up to 79% in H1

ECO News,

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’

Lusa,

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

Lusa,

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."





Volume of cargo handled by mainland ports up 36.4% in May

Lusa,

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.



Porto-Vigo link Euroregion’s ‘greatest conquest’

Lusa,

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

ECO News, Lusa,

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.