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Magic Beans grows 23% in revenues
By Essential Business Posted 16 Agosto, 2023 In Companies, News, Start-Up, Technology The Portuguese company Magic Beans, which specialises in technology advisory services, saw revenues grow 23% in H1 2023. Its goal now is to grow by over 50% for the year after having achieved a €3 million in revenues em 2022. Magic Beans has remained focused on the internationalisation of … Read more
Mortgage repayments up 40%
By Essential Business Posted 18 Agosto, 2023 In Interest rates, Mortgage lending, News Successive rounds of ECB interest hikes have filtered down to Portugal’s housing market putting an extra 40% on the average monthly mortgage repayment to €370. This is according to data from the National Statistics Institute (INE) that shows an additional €106 in relation to July 2022, which … Read more
Tourism revenues up 38.3% on 2019
By Essential Business Posted 16 Agosto, 2023 In Hotel, News, Tourism Tourism registered €2.5Bn in total revenues for the first half of 2023, most of this amount (€1.9Bn) were revenues made from overnight stays. These increases were on the back of an increase in overnight stays, with the average price per night in Lisbon at €152,6 and in the … Read more
Portugal’s public debt continues to fall
By Essential Business Posted 21 Julho, 2023 In News, Public debt, Public Finances Portugal’s debt, which currently stands at 113.8% of GDP, saw the third largest fall in debt in the euro area after Spain and France. It fell 10.8 percentage points compared to the same period last year, closing March with a GDP to public debt ratio of … Read more
Office market tumbles 77% in Lisbon
By Essential Business Posted 21 Julho, 2023 In Commercial Real Estate, Consultancy, News, Offices In the first half of 2023 Lisbon’s office market suffered a nose-dive of 77% in relation to the same period in 2022 and fell 17% in Porto. The Lisbon take-up for the period was 38,000m2 while in Porto it stood at 25,184m2. According to Savills … Read more
Large companies more confident on investment prospects
By Essential Business Posted 15 Maio, 2023 In Business, Investment, News Despite economic indicators for the last quarter of 2022 and the first quarter of 2023 reporting a fall in investment, Portugal’s large companies are more optimistic about the rest of 2023 than they were in October. This is according to the latest indicators on he business and … Read more
Hotels sector expects €720 million investment in 2023
By Essential Business Posted 15 Maio, 2023 In Consultancy, Hospitality, Hotel, News In the first four months of the year investment in tourism assets stood at €20 million. Despite the year getting off to a slow start, consultants insist that overseas investors have the appetite to invest and that the end of the Golden Visa programme will not put pay … Read more
WOW – It’s out of this world!
With 7 world class museum experiences, 12 restaurants, bars and cafés, shops, gallery, events spaces and even a wine school, WOW – World of Wine is a cultural district that pays homage to the city of Porto and tells the story of some of the most important Portuguese industries and traditions. Text: Sarah Boleyn Photos: WOW Located … Read more
BBVA raises €1.5 billion with a 4.5-year covered bond issue
BBVA launched a 4.5-year covered bond today, which raised proceeds of €1.5 billion. The initial offered pricing (mid-swap rate plus 32 basis points) was lowered to the mid-swap rate plus 27 basis points thanks to strong demand of €3 billion. The issue will be listed on the Madrid market under Spanish law. This is the … Read more