From 4% to 20%. How big will the recession be in Portugal?
The uncertainty remains high, but economists are already beginning to count the economic cost of the pandemic. Most point to the biggest recession of Portuguese democracy.
“Maintain effort to be free in May,” Marcelo says
Portugal's President believes that people will have to maintain confinement in April to take steps towards freedom in May.
EDP increases green bond issuance to 750 million
EDP has revised upwards the value of the green bond issue: it intends to finance 750 million euros. Demand already exceeds 5.5 billion.
Algarve hotels occupancy rates ‘lowest ever’ in March
The Association of Hotels and Tourist Developments in the Algarve (AHETA) said that the overall average occupancy rate per room was 28.6%, or 45.8% below the figure for 2019.
Portugal has 12,442 cases of Covid-19. Death toll at 345
The number of confirmed cases of Covid-19 in Portugal rises to 12,442, while the number of coronavirus deaths has risen to 345.
Sonae’s management salaries increase 10%
The Portuguese company has increased the expenses with remunerations. Cláudia Azevedo, the new CEO, earned just over 812 thousand euros.
Opinion Chinese economic relations with Portugal (part I)
One of the most targeted countries by Chinese economic diplomacy in the European Union was Portugal, particularly during the Euro area crisis in the years 2011-2015 and in the aftermath.
Jerónimo Martins will pay a bonus of 500 euros to employees
The bonus will increase 5% compared to last year. The value is the same in Portugal, Poland and Colombia.
5G auction in Portugal postponed
In Portugal, the National Communications Authority said that the three operators requested the suspension of the auction of the bands 700 MHz, 900 MHz, 1.8 GHz, 2.1 GHz and 3.6 GHz.
UniCredit predicts a 15% drop in Portugal’s GDP
"The mother of all recessions has arrived." It's with this phrase that the Italian bank introduces the new forecasts for this year. Portuguese GDP will fall 15% in 2020, but recover 10% in 2021.
Foreigners spent 744 million on houses in central Lisbon
Foreigners invested even more in Lisbon's real estate in 2019, in a total investment of 744.3 million euros.
Covid-19: 11,730 infected, death toll now at 311
The number of confirmed cases of Covid-19 in Portugal rises to 11,730, a daily growth of 4%.
Isabel dos Santos’ companies say asset seizure ‘abusive’
The companies of Isabel dos Santos who, together with NOS in Portugal, said that the seizure of their shares in the company is 'abusive'.
Over 100,000 self-employed ask for support
Exactly 102,708 self-employed workers, who saw their economic activity reduced due to the Covid-19 pandemic, have applied for the government's extraordinary support.
CTT cancels dividend due to Covid-19
The company expects revenues to fall in the coming months because of the pandemic. It has therefore decided to reverse the decision to remunerate shareholders, but also to pay bonuses to workers.
Opinion A Data Army to Fight our Current Battle
Prediction, protection and containment. Three use-cases, that, supported by reliable data sources, can be decisive in helping governments in their fight against the pandemic.
‘European Commission should issue debt’ – Vitor Constâncio
"A quick way to have common European debt to finance expenses to face up to the crisis would be to resort to the European Commission to issue bonds to finance exceptional programmes," Constâncio says.
Covid-19 kills 246 in Portugal. There are 9,886 infected
The number of confirmed cases of Covid-19 in Portugal had risen to 9,886 while 37 more patients have died from the virus.
Third-highest European increase in retail sales – Eurostat
According to the Eurostat, Portugal recorded the third-largest rise, both year-on-year and quarter-on-quarter.
“Nationalising TAP would be a step backwards”
Humberto Pedrosa believes that to nationalise TAP due to the serious difficulties the airline is experiencing during the Covid-19 pandemic "would be a step backwards."
Portugal increases restrictions on movement of people
The Government has already approved measures to extend the State of Emergency in Portugal for a further 15 days.
Santander Portugal to pay suppliers promptly
The Bank joins two others, BCP and the Novo Banco, which decided to anticipate payments to strengthen the liquidity of the companies with which they work.
Non-performing loans fall €4.5B in Q4 of 2019 – central bank
According to the Bank of Portugal, between October and December there was a decrease of €4.5 billion in non-performing loans.