Bank of Portugal cuts 2024 growth outlook, citing short-term uncertainty
LISBON (Reuters) – The Bank of Portugal on Friday lowered next year’s economic growth forecast to 1.2% from 1.5% it had set in October, in a slowdown from this year’s expected 2.1%…
Portugal to define size of TAP stake for sale once proposals submitted – minister
By Sergio Goncalves LISBON (Reuters) – Portugal will decide on the size of the stake it will sell in flag carrier TAP once competitors present their proposals, Infrastructure Minister Joao Galamba told…
Portugal eyes small budget surplus in 2024 despite slowing growth
By Sergio Goncalves LISBON (Reuters) – Portugal unveiled its draft 2024 budget on Tuesday, projecting a surplus of 0.2% of GDP despite a further economic slowdown to 1.5% from this year’s expected…
Portugal PM sees budget surplus in 2023, its second in almost 50 years
By Sergio Goncalves LISBON (Reuters) – The Portuguese government will end the year with a budget surplus, its second in almost five decades, compared with a deficit equivalent to 0.4% of gross…
Portugal approves 30% cut in mortgage rates for struggling borrowers
By Sergio Goncalves LISBON (Reuters) -Portugal’s government said on Thursday that banks must discount the benchmark six-month Euribor rate by 30% when calculating mortgage interest rates if asked to do so by…
Foreign tourism to Portugal registers best-ever first half
LISBON (Reuters) – The number of foreign tourists visiting Portugal surpassed eight million in January-June, making it the best first half on record, official data showed on Monday. The National Statistics Institute…
Soccer-World Cup upsets keep US on their toes ahead of Portugal match
By Amy Tennery AUCKLAND (Reuters) – Women’s World Cup upsets have put the four-times champions United States on notice, with a ticket to the knockout stages on the line when they face…
Cuba president visits Portugal, confirms attendance at EU summit
By Nelson Acosta HAVANA/LISBON (Reuters) – Cuban President Miguel Diaz-Canel arrived in Portugal for a state visit, his office said on Thursday, and confirmed his attendance at an upcoming summit with the…
Portugal says keeping Lisbon hub is key in TAP airline sale, not price
By Sergio Goncalves LISBON (Reuters) – Keeping Lisbon’s airport hub and safeguarding TAP’s strategic role for Portugal will be key conditions of the airline’s upcoming privatisation, more than the sale price, the…
Out of vetoes, Portugal president enacts law allowing euthanasia
LISBON (Reuters) – Portugal’s conservative President Marcelo Rebelo de Sousa has signed a bill decriminialising euthanasia into law in the Catholic-majority country after parliament on Friday overturned the last of his four…
Former Goldman Sachs partner launches fund of up to $550 million in Portugal
By Sergio Goncalves LISBON (Reuters) – Fortitude Capital, founded by former Goldman Sachs partner Antonio Esteves, Brazilian bank BTG Pactual and Portuguese asset manager Atrium, has launched its first fund with a…
Foreign tourism to Portugal has best first quarter ever
LISBON (Reuters) – The number of foreign tourists visiting Portugal surpassed 2.8 million from January through March, making it the best first quarter on record despite high global inflation and interest rates,…
In Portugal, Brazil’s Lula tries to lure back foreign investors
By Catarina Demony and Gabriel Araujo LISBON (Reuters) – Trying to lure back wary foreign investors, Brazil’s President Luiz Inacio Lula da Silva vowed on Monday to restore stability and credibility, inviting…
Brazil’s Embraer to build NATO-approved aircraft in Portugal
LISBON (Reuters) – Brazil’s Defence Minister Jose Mucio said on Friday his country’s planemaker Embraer SA would manufacture aircraft that meet NATO’s requirements in a partnership with Portuguese aerospace company OGMA. Embraer,…
ECB’s Centeno says mortgage default risk in Portugal is low
By Sergio Goncalves LISBON (Reuters) – The risk of default on mortgages in Portugal is low despite the steep rise in interest rates by the European Central Bank (ECB) because there are…
Thousands protest in Portugal over housing crisis
By Miguel Pereira and Pedro Nunes LISBON (Reuters) – Thousands of people took to the streets of Lisbon and other cities across Portugal on Saturday in protest against soaring rents and house…
Stellantis’ Portugal plant to produce large series fully battery electric compact vans
(Reuters) – Carmaker Stellantis NV said on Friday its Portugal plant would become the first assembly plant in the country to produce large series fully battery electric compact vans by 2025. Stellantis’s…
Portugal announces $2.7 billion anti-inflation package
LISBON (Reuters) – Portugal’s government on Friday announced measures worth 2.5 billion euros ($2.7 billion) to help low-income families cope with soaring inflation and high interest rates, including scrapping value added tax…
Thousands protest in Portugal to demand higher wages, cap on food prices
By Sergio Goncalves and Miguel Pereira LISBON (Reuters) – Thousands of protesters filled downtown Lisbon on Saturday to demand higher wages and pensions, as well as government intervention to cap soaring food…
Portugal economy grows 6.7% in 2022, but slowing down
LISBON (Reuters) – Portugal’s economy grew 6.7% in 2022, its strongest pace in 35 years, fuelled by domestic demand and booming tourism, but inflation put the brakes on private consumption in the…
Portugal teachers take to streets as wave of discontent intensifies
By Catarina Demony and Miguel Pereira LISBON (Reuters) – Tens of thousands of teachers took to Lisbon’s streets on Saturday in one of the biggest protests in Portugal in recent years as…
Portugal to send Leopard tanks to Ukraine, PM says
LISBON (Reuters) – Portugal will send Leopard 2 tanks to Ukraine, Prime Minister Antonio Costa said on Saturday, without specifying how many will be shipped. Costa added that Portugal is in talks…
Portugal approves windfall tax on energy firms, food retailers
By Sergio Goncalves LISBON (Reuters) – Portugal’s parliament on Tuesday approved a 33% tax on the windfall profits that energy companies and food retailers may be bringing in with inflation at a…
Portugal to give one-off subsidy to poorest families amid soaring inflation
LISBON (Reuters) – Portugal’s government approved a one-off subsidy of 240 euros for over a million poor families, whose purchasing power is being hard hit by soaring inflation, Labour Minister Ana Mendes…
Portugal panel gathers over 400 testimonies of church sex abuse victims
By Catarina Demony and Miguel Pereira LISBON (Reuters) – A commission investigating child sex abuse in the Portuguese Catholic Church said on Tuesday it has already gathered more than 400 testimonies of…
Portugal reaches 5.1% private sector wage hike deal for 2023
By Sergio Goncalves LISBON (Reuters) – Portugal’s government, major business associations and the country’s second-largest labour union UGT have struck a deal to raise the wages of private sector workers by 5.1%…
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