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
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
By Essential Business Posted 11 Novembro, 2024 In ISA, News, Pensions, Savings Interest in private retirement ISA plans (PPRs) in Portugal has fallen drastically in Portugal by as much as 53% after years of being one off the most popular ways to create a retirement nest egg. According to the Portuguese Supervisory Authority Insurance and Pension Funds (ASF) there has … Read more
By Essential Business Posted 11 Novembro, 2024 In Alternative Real Estate Investment Undertakings, Funds, News, Real estate investment Alternative Real Estate Investment Undertakings, or AREIUs, including Real Estate Investment Funds (Contractual Investment Undertakings), and Collective Investment Undertakings (CIOs), have grown and broke records in Portugal the first half of 2024. And these funds could make a contribution to boosting residential … Read more
By Essential Business Posted 11 Novembro, 2024 In Investment, News, Start-Up, Venture Capital Bynd Capital Ventures has announced today that it has launched a €40 million fund to help startups in Portugal and Spain in their initial phase. The Fund III, which draws on a team of researchers from the two countries, already has investments in startups Equall, CircuitLeap and … Read more
By Posted 4 Novembro, 2024 In Economy, Exports, News Portugal’s economy is close to stagnation as exports are outweighed by imports With imports out pacing exports Portugal’s economy only just managed to keep its head above water in the third quarter of 2024. According to the National Statistics Institute (INE), Portugal’s economy only grew by 0.2% Q-on-Q while maintaining growth … Read more
By Chris Graeme Posted 21 Outubro, 2024 In Automotive, Manufacturing, News Multinational car manufacturer Stellantis is to up production at its plant in Mangulade from 12 vehicles to 18 vehicles per hour. To do this, it will create a fourth daily shift and install a photovoltaic energy production unit for auto-consumption (UPAC) according to online news source ECO. These … Read more
By Chris Graeme Posted 21 Outubro, 2024 In Companies, Events, Franchising, News Franchising continues to grow in Portugal and consolidate its position as one of the essential drivers of the national economy. Essential Business went along to Expofranchise to discover more about this dynamic sector in Portugal. Text and Photos: Chris Graeme In 2023, Portugal’s burgeoning franchising sector accounted for 8.3% of … Read more