Corporate indebtedness hits pre-crisis low

ECO News,

The statistics were published by the Bank of Portugal (BdP) this Thursday, and they enhance the fact that Portuguese companies are gradually losing their dependency on any external financing sources.

Q3 house prices up 1% QoQ, 8.5% YoY, twice EU rate

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In the third quarter of 2018, house prices continued increasing in Portugal, and they were up by twice as much as the year before. The data was released this Friday on Eurostat.

Chief Brexit negotiator wants less “overtime negotiation”

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Barnier was in Lisbon to discuss the repercussions of the Brexit deal. “If the UK changes the red lines, we move immediately, if [the UK] wants more, we are ready,” he said.

Automation can cost 1m jobs but create as many by 2030

ECO News,

Adopting automation in Portugal can lead to a loss of 1.1 million jobs in the industry and commerce by 2030 but can create others in health, social assistance, science and construction.

OECD report shows Portugal as a very corrupted country

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OECD's report hasn't yet been released, but the Portuguese economy Minister noted he is disappointed that Portugal is listed at the same position, in terms of corruption, as Nigeria and Iraq.

Country may face some export difficulties in 2019

ECO News,

The doubts surrounding Brexit can ultimately cause constraints in Portuguese exports in 2019, according to the Portuguese economy minister. The UK is a "very important client".

Portugal has 8th heaviest corporate tax burden in the OECD

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OECD’s report analyses and compares the taxation system in 88 different countries. Portugal has the 8th highest corporate tax burden in the analysis.

Tourism sector witnesses sharp deceleration

ECO News,

Despite the slowdown, the tourism sector is still highly profitable with hotels' revenue continuing to grow, meaning that tourists are paying more and more to stay in Portugal.

REIT’s can also invest in offices and malls

ECO News,

Real estate investment and management societies, commonly known as Real Estate Investment Trusts (REIT), can now invest in construction projects in the rehabilitation of residential real estate.

“It is completely democratic to hold another referendum”

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Without a doubt, the United Kingdom has benefited greatly from becoming a member of the EU. Competitiveness and openness to other markets have changed the way things were done in the UK.

No-deal Brexit to limit UK rights of Portuguese latecomers

ECO News,

If there is a no-deal Brexit, only Portuguese nationals who have entered the country by 29 March will be sure of obtaining a residence permit, almost two years earlier than previously foreseen.

Drop in industrial output 2nd-largest in EU, 3rd-largest YoY

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Year-on-year industrial output in Portugal fell by 2.9%, behind Ireland (-9.1%) and Germany (5.1%). The largest increases in industrial production were felt in Estonia, Greece and Malta.

Indico sets venture capital funds in Portugal

ECO News,

The managers of these venture capital funds will have around €46m to invest in Startups in Portugal and Spain. Stephan Morais, Cristina Fonseca and Ricardo Torgal are in charge of these funds.

Transports dominate the National Investment Programme

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Portugal’s National Investment Programme (PNI) for the period through 2030 foresees the spending of €21.95 billion on projects in the areas of transport, energy and environment.

Business creation increases by 12.2%, bankruptcies drop 6.3%

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Lisbon presented the most significant amount of new businesses created in the country, with 15,829 new companies opening in the region in 2018, followed by Porto, with 8,179.

Council of Ministers approved the REIT’s

ECO News,

The Council of Ministers has approved this Thursday a legislative decree connected with the real estate investment and management societies, known as Real Estate Investment Trusts.

Companies expect exports to grow by merely 4.3% in 2019

ECO News,

The Office for National Statistics (INE) published this Thursday estimates for the evolution of 2019's exports. INE's survey to 3184 companies shows that a drop in exports is expected this year.

Portugal issues €4bn in 10-year bonds

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BBVA, BNP Paribas, Credit Agricole, Morgan Stanley and Novo Banco will support the operation. Robust demand from investors reached €24 billion.

Debt still stops Moody’s from improving Portugal’s rating

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The rating agency warned again about the high indebtedness level of the Portuguese, Spanish and Italian economies. High sovereign debt should still represent a constraint to Moody's ratings.

Modernisation of Douro’s railway line will cost €135 M

ECO News,

IP, the state company responsible for the transport infrastructures in Portugal, said on Monday that the modernisation of Douro's railway would represent an investment of around €135 million.

House prices in Montijo and Alcochete up by 30% in 2 years

ECO News,

As the opening time for the new Montijo Airport slowly approaches, real estate prices in the region are starting to go up. The new airport of Lisbon will stimulate prices in Montijo and Alcochete.