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    Monthly Archive for: "Agosto, 2021"
     NB recovers €11M from GES fund
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    By Fernando Caetano
    In Banks, News, Novo Banco
    Posted 30 Agosto, 2021

    NB recovers €11M from GES fund

    Novo Banco is to receive a further €2.4 million from a real estate fund which belonged to the former Grupo Espírito Santo (GES). GES became insolvent last year with Novo Banco having a €60 [...]

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     Call for Faro-Seville rail link
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    By Fernando Caetano
    In Economy, Infrastructure, News, Transport
    Posted 30 Agosto, 2021

    Call for Faro-Seville rail link

    Business organisations in the Algarve and Andalusia are to hand a formal request to both the governments of Spain and Portugal calling for a rail link between the airports of Faro and Seville. [...]

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     TAP losses €493.1M in H1
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    By Fernando Caetano
    In Aviation, News, TAP
    Posted 30 Agosto, 2021

    TAP losses €493.1M in H1

    The Portuguese national carrier TAP recorded losses of €493.1 million in the first half of 2021 – an like-for-like improvement of €88.8 million. This was according to the airline’s results [...]

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     760 staff leave Millennium bcp
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    By Fernando Caetano
    In Banks, News, Restructuring
    Posted 30 Agosto, 2021

    760 staff leave Millennium bcp

    Some 80% of bank workers at one of Portugal’s largest commercial banks, Millennium bcp, have accepted an amicable recision agreement which will see 760 staff go as part of the company’s [...]

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     Teixeira Duarte posts €20M debt
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    By Fernando Caetano
    In Construction, News
    Posted 30 Agosto, 2021

    Teixeira Duarte posts €20M debt

    The Portuguese construction company Teixeira Duarte recorded debts of nearly €20 million in the first half of 2021. The amount of debt rose compared to the same half in 2020 when the company’s [...]

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     Portugal’s ex-prime minister and 293 others accused of squirrelling away fortunes worth millions
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    By Fernando Caetano
    In Justice, News, Tax
    Posted 30 Agosto, 2021

    Portugal’s ex-prime minister and 293 others acc...

    A total of 294 tax payers including former Socialist prime minister José Sócrates stand accused of hiding fortunes from the Portuguese tax authorities in Switzerland. Both individuals and [...]

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     BBVA: €200Bn for ‘green’ financing to 2025
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    By Fernando Caetano
    In Banks, News
    Posted 26 Agosto, 2021

    BBVA: €200Bn for ‘green’ financing ...

    The bank BBVA is to set aside €200Bn for sustainable financing to 2025. The amount announced is double the initial amount foreseen which had been announced in February 2018 (€100Bn). The goal, [...]

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     Family savings soar to €169Bn
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    By Fernando Caetano
    In News, Savings
    Posted 26 Agosto, 2021

    Family savings soar to €169Bn

    The amount of family savings in Portugal hit a record in July reaching almost €170Bn. Month after month the amount deposited in banks has increased and according to statistics released from the [...]

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     Portugal’s public sector balloons to unsustainable levels
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    By Fernando Caetano
    In News, Public administration, Public Spending
    Posted 26 Agosto, 2021

    Portugal’s public sector balloons to unsustaina...

    In just six years of Portugal’s socialist PS government, the amount of people employed by the State has ballooned to a new all-time high. According to Expresso’s ‘Economia’ the country has [...]

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     Startup Abtrace seals €2.4 million in Faber-led round
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    By Fernando Caetano
    In News, Start-Up, Venture Capital
    Posted 26 Agosto, 2021

    Startup Abtrace seals €2.4 million in Faber-led...

    The startup Abtrace, which operates in both Portugal and the United Kingdom, has closed a financing round of €2.4 million. According to the company this investment includes a capital round of [...]

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