Exports increased in February, before the virus hit Europe

ECO News,

Exports of goods grew 0.9% in February, before the pandemic hit Europe hard. The Statistics Portugal (INE) warns that a significant change is expected in the coming months.

Portugal’s foreigner holding centre closed until April 30th

Lusa,

The minister of internal administration announced that the foreigners and border agency Temporary Installation Centre at Lisbon airport will be closed until April 30th.

House prices in Portugal double eurozone

Lusa,

In the fourth quarter of 2019, the year-on-year price of housing in Portugal registered an increase of 8.9%.

Airbnb: Porto and Lisbon with losses of 5.5 million euros

ECO News,

In March, Lisbon lost 29% of its turnover (4.7 million) and Porto 15% (800 thousand euros). In total, these two cities lost 5.5 million euros. This scenario could get worse in April.

EDP increases green bond issuance to 750 million

ECO News,

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

Lusa,

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.

From 4% to 20%. How big will the recession be in Portugal?

ECO News,

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.

Sonae’s management salaries increase 10%

ECO News,

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)

José Pedro Teixeira Fernandes,

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.

5G auction in Portugal postponed

Lusa,

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

ECO News,

"The mother of all recessions has arrived." It is 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.