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
If Portugal is mired in economic crisis with families being squeezed by inflation at nearly 10% and mortgage payments up because of higher interest rates, you’d never guess it if you looked at the luxury car sales figures for 2022. Sales of luxury cars were up 22% with all sport cars enjoying an increase, with … Read more
The United Kingdom has now overtaken France and Switzerland in terms of the countries where Portuguese citizens have most applied for dual nationality. In 2021 2,561 Portuguese citizens acquired British nationality, the majority by right of being permanent residents or through the registration of under 18s — up 25% on 2020. This is according to … Read more
Tourism, together with associated real estate, is undoubtedly one of the main drivers of Portugal’s economy, currently representing 15% of its GDP. But the success that Portugal has enjoyed over the past years is not solely down to good food, fine wines and a sunny climate. It has to do with a coherent, consistent and … Read more
O Turismo de Portugal lança esta sexta-feira, 18 de novembro, a campanha ‘Close To US’ nos EUA, iniciativa que vai ser lançada em Times Square, em Nova Iorque, e que dá início a um forte Plano de Promoção de Portugal nos EUA. De acordo com um comunicado do Turismo de Portugal, os EUA são “um … Read more