Mediobanca, DB and JP Morgan will deal with funds
The CEO of Novo Banco chose Mediobanca, Deusche Bank and JP Morgan to negotiate the exchange of senior bonds with international funds.
The “largest fraud” in the Portuguese justice
Twelve convictions, three acquittals. After more than six years of trial, the sentences on the BPN case are now known, and they go from suspended sentences to 14 years in prison.
Nuno Amado: “Portugal is capable of lending money”
Nuno Amado spoke on ECO Talks, as a part of the 2nd Economics Week organized by InvestBraga, about the Portuguese banking system and the Republic's rating.
Possible “snowball effect” in the debt, says ECB
Risks for the debt sustainability increased because of the rise in interest rates and political uncertainties in many countries. The ECB believes Portugal may come to suffer from a "snowball effect".
PT brand disappears. Altice takes charge
With this identity renewal, a 23 year cycle in which Portugal Telecom lead the telecommunications business in the country comes to an end. What is implied in this rebranding?
“There are daily attempts to politicize CGD”
CGD's CEO told ECO the bank aims to be a reference in Portugal. In the assessment of his first 100 days in office, Macedo warns the public bank "doesn't have a network restructuring on a whim".
“Offloading of NPLs is positive for growth”
Olivier Blanchard, in an interview to ECO, stated Portugal must accept it will live with a high debt for a long time. In addition, Blanchard mentions that the disposal of existing NPLs is a priority.
After 2,784 days, Portugal finally leaves the EDP
The European Commission recommended this Monday that Portugal leaves the corrective arm of the Excessive Deficit Procedure. Credit goes to "the Portuguese", stated Valdis Dombrovskis.
“One swallow doesn’t make a Summer”
Olivier Blanchard, former chief-economist in the IMF, acknowledges a recovery in the Portuguese economy. However, in the study made with Pedro Portugal, there are 4 constraints to growth.
Portuguese exports were better than the German
Portugal's Economy minister, Manuel Caldeira Cabral, identified two structural problems and five opportunities for the Portuguese economy.
Moody’s: Portugal is growing. Debt is still high
The rating agency assesses Portugal based on its economic growth. Yet, the high level of debt limits this expansion, since it is one of the most expressive in the European Union.
Prosecutor investigates NB’s bond sale
The Public Prosecutor opened two inquiries after the CMVM expressed theirs suspicions of a criminal operation performed just days before the BdP made a 2.2 billion bond transfer from NB to BES.
Markets are sensing Portugal’s financial strength
The President stated this Wednesday that the debt placement with even more negative interests confirms an "economic turning point". He also states markets are "sensing" Portugal's strength and growth.
Portuguese interests reach minimum of six months
Portuguese interests are shrinking in all maturities, on the day the country returns to the market. This decrease happens after the Portuguese economic growth, the sixth largest in the Euro Area.
Government hopes to return 7.2 billion to the IMF
The Portuguese Government predicts an anticipation of the IMF payment "of 6.5 billion in 2018 and at least 700 million in 2019", totaling 7.2 billion euros.
Portugal: Euro Area’s sixth largest growth
The Portuguese economy grew 2.8% in the first quarter of 2017. It was the sixth largest growth in the Euro Area countries, tied with the Netherlands.
Same GDP, different explanations
GDP grew because of what the government did. Or because of what it didn't do. Or even because of what it stopped doing... Discover all the different explanations for this quick economic growth.
Macron’s reforms have more than 50% success chance
The proposals made by the new French President will be good for France, says the former president of the European Commission; however, he will have to work hard to achieve those reforms.
Two Portuguese universities at FT’s list
Universidade Católica Portuguesa and Nova de Lisboa are on the list of the British newspaper Financial Times. The ranking of the best schools for business education was disclosed this Monday.
GDP grew 2.8% in the first quarter of 2017
The Portuguese economy grew 2.8% in the first quarter of 2017, disclosed Statistics Portugal (INE). Exports grew more than imports and investment accelerated.
“Portugal: not out of the woods yet”
Commerzbank analysts believe that despite some positive surprises, it is too early to "sound the all-clear" for Portugal. The country is still not out of the woods which led to the 2011 bailout.
EY will be CGD’s new auditor
Caixa Geral de Depósitos (CGD) will change auditors and the Government has made its choice. EY won the race for one of Portugal's largest contracts and will be the new auditor of the public bank.
Resolution Fund: “We will surely sell Novo Banco”
The Resolution Fund chairman is confident in the sale of the transition bank. Máximo dos Santos states the right conditions will be created to close the operation.
BCP will have two administrators assigned by Fosun
BCP's shareholders approve two new administrators assigned by Fosun in a GA with 54.1% representation. Nuno Amado believes Fosun's entrance in the bank's equity reinforces shareholders' stability.