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Payments landscape in Portugal market analysis & forecast 2017-2021

LISBON:  Opportunities and Risks to 2021”, report provides detailed analysis of market trends in Portuguese cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, credit transfers, direct debit, payment cards, and cheques during the review-period (2013-17e). The also analyzes various payment card markets operating in the industry, and ... Read More »

Portugal bust gang smuggling glass eels to Asia

LISBON:  Portuguese authorities has brought down a criminal network that has been making lucrative profits by smuggling glass eels to Asia. In the latest operation against the traffickers that was concluded in March but only revealed Friday, four Chinese citizens, three Spaniards and three Moroccans were arrested in Spain in an operation coordinated by the European Union’s police body. Spain’s ... Read More »

Portugal’s growing green energy production hits milestone

LISBON: Portugal Green energy activists in Portugal are hailing a milestone after favorable weather conditions helped production from renewable sources in March to exceed the country’s monthly electricity consumption for the first time. National energy infrastructure company REN says wet and windy weather meant energy from hydroelectric dams and wind turbines was exceptionally high.  Coal-fired power stations and imported electricity ... Read More »

Portuguese textile mill to install Capstone’s microturbine

LISBON: The textile mill required an increase in their production capacity and sought an efficient solution for their plant expansion. Instead of importing more power from the local utility at extremely high rates, they considered breaking away from the unstable and overpriced utility by becoming part of the global distributed generation (DG) energy revolution. A natural gas-fuelled Capstone C600S microturbine ... Read More »

Portugal’s Industrial Production Growth Slows

LISBON: Portugal’s industrial production growth moderated in February after accelerating in the previous month, figures from Statistics Portugal showed Thursday. Industrial production climbed 2.1 percent year-over-year in February, slower than January’s 2.5 percent rise. Manufacturing output also grew at a weaker pace of 3.1 percent annually in February, following a 4.4 percent gain in the prior month. On a monthly ... Read More »

Portugal 2017 budget gap halves with bank injection discounted

LISBON : Portugal’s budget gap rose last year to hit the EU threshold for excessive deficits of 3 percent of GDP due to a massive capital injection in state-owned bank CGD, but halved when that one-off impact is discounted and should remain around 1 percent in 2018. Finance Minister Mario Centeno, who also chairs the Eurogroup of euro zone counterparts, ... Read More »

Portugal volunteers replant trees burnt in devastating wildfire

LISBON: Volunteers in central Portugal planted 67,500 trees on Sunday in the Leiria pine forest as the country recovers from the most devastating forest fires in its history. More than 80 percent of the forest burnt in October. Leiria’s trees were used to build ships that sailed in the 15th and 16th century discoveries when Portugal was a leading maritime ... Read More »

Portugal to respond to ECJ VAT ruling on vacant property

LISBON: Portuguese Government has said that it is reviewing a recent decision by the European Court of Justice with a view to amending the country’s value-added tax regime with regards to the leasing and letting of property. Assistant Secretary of State for Finance Ricardo Mourinho Felix told reporters at the last meeting of European Union finance ministers that the Government ... Read More »

Portugal starts love affair with private equity

LISBON: Portugal’s economic recovery is making it a hot destination for the rich and famous like Madonna as well as tech entrepreneurs and now private equity is looking to participate in the upswing. Private equity investments in Portugal have more than tripled to 7 billion euros (£6.14 billion) in the past three years, according to data by industry consultant TTR, ... Read More »

Portugal’s flourishing tourism becomes economic mainstay

LISBON: Portugal’s tourism boom has made the industry one of the biggest contributors to the national economy and the largest employer, with almost 1 million direct and indirect jobs, the head of the World Travel & Tourism Council (WTTC) said. Portugal has long been popular for its beaches, historic sites and golf courses, but tourism has broken records in the ... Read More »

Exports increase almost 10 percent in January

LISBON: On leaving an EU Competitiveness cabinet meeting, Manuel Caldeira Cabral, said the figures the Portuguese National Statistics Institute (INE) released this week show that Portuguese exports in January went up 9.6 percent, which was more than in the last three quarters meaning they are accelerating and the government expects this trend to continue. The acceleration was particularly significant in ... Read More »

Portugal Spain police seize 2.5 tonnes of cocaine

LISBON: Spanish and Portuguese police arrested ten people and seized around 2.5 tonnes of cocaine in raids to smash an international network smuggling drugs from Latin America to Europe, police said Thursday. Police seized two tonnes of cocaine at a warehouse in Lisbon and around half a tonne hidden  as it was being transported by car just across the border ... Read More »

Portugal Exports increase almost 10% in January imports more than 12%

 LISBON: On leaving an EU Competitiveness cabinet meeting, Manuel Caldeira Cabral, said the figures the Portuguese National Statistics Institute (INE) released today show that Portuguese exports in January went up 9.6%, which was more than in the last three quarters meaning they are accelerating and the government expects this trend to continue. The acceleration was particularly significant in the automobile ... Read More »

Portugal approves plan of action to 2021 against people trafficking

LISBON: The plan in line with international guidelines on the matter, is drafted based on a range of strategic objectives, including “assuring the victims of trafficking better access to their rights, consolidating and upgrading intervention,” the government said in a statement issued after its regular weekly cabinet meeting. The plans also foresees efforts to raise public awareness of the problem ... Read More »

Property market in Portugal recovering closer to pre economic crisis levels

LISBON: Residential property prices in Portugal are recovering, getting closer to their pre economic crisis level, according to the latest real estate index, with demand and sales growing. The data also shows that each region covered by the survey, Lisbon, Porto and the Algarve, has seen new instructions decline consistently in recent reports. However, the lack of new instructions does ... Read More »

Calls for more steps to boost economy as EC hails progress

LISBON: Portugal off the list of member states with excessive economic imbalances, stating that it now has only “imbalances”. The country’s president welcomed that development, but stressed that further progress is needed. “It’s good news that Portugal has exited the group of countries with excessive imbalances, to another group of countries that includes major European economies,” said de Sousa. “Which ... Read More »

Portuguese web security startup Jscrambler nets $2.3m Series A

LISBON: The web security startup Jscrambler, today announces that it has raised more than US$2.3 million in a Series A round led by Sonae IM and co-invested by Portugal Ventures. The investment allows the company to expand its business and develop its portfolio, and is an important step in Sonae IM’s internationalisation strategy. The Web startup, headquartered in Portugal, works ... Read More »

Portugal’s political parties scrap limits on fund raising

LISBON:  Portugal’s political parties have backtracked on plans to award themselves a broad tax rebate to help fund their activities following a veto of the idea from the country’s president earlier this year. However, they are still pushing ahead with a controversial law that scraps limits on the level of private funds they can raise. That, too, had been vetoed ... Read More »

Portugal’s government announce collaboration to accelerate country digitization

LISBON: Portugal’s Prime Minister António Costa, Cisco Chairman and Chief Executive Officer Chuck Robbins, and Sofia Tenreiro, General Manager of Cisco Portugal. Over the next two years, Portugal and Cisco will cooperate to capture opportunities presented by a digital economy, with the aim to positively impact economic growth, education, innovation, and competitiveness as well as social inclusion and quality of ... Read More »

Portugal set for record real estate investment

LISBON: Portugal’s 2011-14 debt crisis now firmly behind it, signs of an economic resurgence have boosted confidence in the country’s real estate market among both domestic and foreign investors. GDP growth for 2017 was revised up from 1.8 percent to 2.6 percent, with public debt and the budget deficit continuing to shrink. Unemployment, which hit 17.5 percent in 2013, has ... Read More »