Funds create a group to acquire Novo Banco

Novo Banco's creditors wrote a letter to the Bank of Portugal opposing the senior bond exchange operation (which may jeopardize the sale to Lone Star), proposing to buy the bank themselves.

Possible “snowball effect” in the debt, says ECB

ECO News,

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

ECO News,

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”

ECO News,

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”

ECO News,

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

ECO News,

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”

ECO News,

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.

Prosecutor investigates NB’s bond sale

ECO News,

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

ECO News,

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

ECO News,

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.

Same GDP, different explanations

ECO News,

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.

Two Portuguese universities at FT’s list

ECO News,

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

ECO News,

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”

ECO News,

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

ECO News,

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.

BCP will have two administrators assigned by Fosun

ECO News,

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.