It’s official. Portugal’s successful Golden Visa programme, which has netted the government over €6Bn since 2012, is to end in a bid to put a stop to property speculation which the government and critics say is partly responsible for driving up house prices in parts of Portugal. The government confirmed its decision on Thursday afternoon … Read more
A study by NetCredit has revealed that the French, British, Spanish and Germans would have to save less of their average salaries to buy a property in Lisbon than the Portuguese to acquire a house in the centre of their capital cities. The study showed that Lisbon was now the third least affordable capital city … Read more
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 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
The flagship Zara store on Lisbon’s Rua August in the city’s downtown Baixa has been sold for €20 million — a record price tag for the shopping area. The building had been owned by the German fund Deka Immobilien which has been leasing it to the Spanish clothing retail giant Zara – it is the … Read more
The effects of inflation on Portuguese consumers does not look set to ease in the early months of 2023, despite government forecasts that it will fall back to 5.8% in 2023. What had seemed temporary, and limited to some categories of products and in a controllable way, has gradually set into the entire economy with … Read more
Portugal’s venture capital company Indico Capital Partners has invested €4 million in five startups – Famedrop, Data4Deals, Ittinsect, Inclita Seaweed Solutions and Biomimetx. Two are linked to Artificial Intelligence (AI) and three with oceans protection who will get the investment through Indico Founders Program Powered by Google for Startups. The five startups join the digital … Read more
An ex-director of cash-strapped Portuguese airline TAP who had been on a salary of €245,000 per annum for three years and who was awarded a €500,000 fat cat “compensation package” for leaving the company has been sacked from the Portuguese government. €107,000 of the ‘compensation’ referred to holiday leave not taken. Alexandra Reis took home … Read more
The interest on Portuguese sovereign debt that the country has to pay back to investors who bought government treasury bonds went up seven times during the course of 2022 says Negócios. The increase in interest was largely down to the European Central Bank’s decision to vastly scale down financial stimuli (such as buying sovereign bonds) … Read more
