By Posted 8 Janeiro, 2025 In Development, News, Real Estate, Real Estate Investments Grupo Azinor, owner of the Sana hotel chain, has reached an agreement with Grupo SIL to acquire the Porto Cruz real estate mega-project, located in Cruz Quebrada near Lisbon, Jornal Económico reports, citing a source linked to the project. The Enterprise Value (including debt) of the deal stands … Read more
By TPN/Lusa, in News, Portugal, Politics, North America · It is a great honor for me to announce that John Arrigo will be the next United States Ambassador to Portugal,” said Trump on his social network Truth Social. “John is a highly successful entrepreneur in the automotive industry and a champion golfer,” the former president stated. “For over thirty years, … Read more
By Posted 30 Dezembro, 2024 In Hotel, News, Tourism, Travel Twenty twenty-four was as bumper year for Portugal’s tourism industry with a record 30 million tourists. According to the National Statistics Institute (INE), Portugal registered 2,981.2 thousand guests and 7,569.42 thousand overnight stays to October in total tourist accommodation in 2024, generating €27Bn in revenue. The share of overnight stays from non-residents … Read more
By Posted 17 Outubro, 2024 In News, Property, Property Tax, Real Estate, Youth Tax There has been an increased demand for mortgages from young people aged 35 and under following the government’s decision to exempt this age group from paying property taxes. According to a quarterly report from the online estate agency portal Idealista, young people in Portugal now represent 49.2% of … Read more
By Posted 8 Janeiro, 2025 In Companies, Company boards, Ethics, Galp, News The CEO of Portuguese oil and gas energy group Galp has resigned the company stated on Tuesday. Filipe Silva stood down following a company investigation into an anonymous complaint about an alleged “personal relationship” between him and a company manager. According to Portuguese media and Reuters, the Chair of Galp, … Read more
By Essential Business Posted 8 Novembro, 2024 In Banks, Financial results, News Portugal’s banks raked in €3.6Bn in the first three quarters of 2024. Profits from State-owned bank Caixa Geral de Depósitos (CGD) (€1.2Bn) catapulted the results of the country’s five largest banks to another good year of results. Overall, the bank’s profits were up 21% or +€616 million … Read more
By Essential Business Posted 8 Novembro, 2024 In News, Privatisations, TAP A dozen national and international entities are interested in acquiring a slice of the Portuguese national carrier TAP which is to be part-privatised next year. These are in addition to the three main mega-airline groups Air France-KLM, IAG, and Lufthansa. “This strong interest goes to show that TAP … Read more
By Essential Business Posted 11 Novembro, 2024 In Companies, Currency exchange, News, Relocating Text: Chris Graeme; Photo: Joaquim Morgado (American Club of Lisbon) When small and micro companies decide to open an office in Portugal, one of the last things some tend to consider is the cost of transferring funds to open up the venture and cover the relocation costs. … Read more
A Comissão Fulbright/EducationUSA Portugal irá organizar pela segunda vez este ano a EducationUSA Portugal LLM Fair, parte da EUR EducationUSA LLM Tour. Este evento, que irá decorrer no dia 19 de novembro 2024 entre as 18h30 e as 20h30 (hora de Lisboa), durante a International Education Week, na Câmara de Comércio e Indústria Portuguesa, irá … Read more
By Essential Business Posted 11 Novembro, 2024 In Investment, News, Offshoring, Relocating Portugal’s Minister of the Economy, Pedro Reis has been in Singapore where he held round-table talks with sovereign funds. The funds are interested in stepping up production in semiconductors, looking at opportunities in eolic offshore wind farms and the health sector, as well as the Sines Containers Terminal. … Read more