ECO News - Portuguese Economy

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ECO News - Portuguese Economy

ECO News is the English version of ECO, an online economic newspaper which focuses on the Portuguese

27/03/2024

Consumer confidence indicator at highest level in over two years

Confidence indicators increased in services and slightly in trade, while they fell moderately in manufacturing and construction and public works.

27/03/2024

TAP returned to losses in the fourth quarter. 2023 ended with a profit of 177 million.

The airline achieved a net result of 177 million euros in 2023, below the 203 million recorded up to September. A loss of 26.2 million in the last quarter impacted the year's performance.

11/03/2024

Portugal: Voters didn’t go with useful voting, far-right biggest winner

The Portuguese didn't respond to the calls for a useful vote in Sunday's legislative elections, resulting in the "most fragmented parliament ever" and with Chega being the "big winner".

07/03/2024

Retailer Jerónimo Martins to invest €1.2B, entry into Slovakia in 2024

Portugal's retailing giant Jerónimo Martins plans to invest €1.2 billion this year, an amount that "also takes into account the initial investment" to launch operations in Slovakia.

05/03/2024

Civil engineering group Mota-Engil sees record €113M profit in 2023

The year 2023 was "characterised by a strong operating performance, achieving record levels of production in the Engineering and Construction (E&C) area", it stressed.

05/03/2024

Managing uncertainty and accelerating the path to a decarbonized world

It is critical to accelerate investment and modernization of electrical infrastructure to accompany the renewables growth strategy, create stable and predictable regulatory contexts.

05/03/2024

One week before elections two main parties convinced of victory

More than 10.8 million Portuguese are expected to vote on Sunday to elect 230 deputies to the Portuguese Parliament. Eighteen political forces, 15 parties and three coalitions are running.

04/12/2023

Stock market closes with benchmark up 0.7% led by BCP up 4.42%

The Lisbon stock market closed higher on Monday, with the PSI index rising 0.69 % to 6,572.24 points, supported by strong rises from BCP and Jerónimo Martins.

04/12/2023

Centeno argues for caution in wage increases and the protection of employment.

The governor says that monetary and fiscal policies need to recognize the challenges of the labour market.

01/12/2023

A new attitude can change everything!

Change requires effort. And one of the greatest efforts doesn't require investment or a business plan: Attitude!

28/11/2023

Medina blames TAP management for salary cuts

The ministry led by Fernando Medina states that it "was not informed nor consulted about changes in salary processing" at the airline.

07/11/2023

Prime-minister António Costa resigns from office

The decision comes after an investigation by the Public Prosecutor's Office in an enquiry launched by the Supreme Court, following an operation into the lithium and green hydrogen businesses.

11/09/2023

Production stoppage at VW unit sees hundreds lose jobs at suppliers

According to the coordinator of Works Councils at the industrial estate, by last Friday Autoeuropa and its supplier companies had already confirmed the dismissal of 291 casual workers.

11/09/2023

Heatwaves, floods will have economic impact, says EC

Several European countries, including Portugal, have been affected by phenomena such as heat waves that are conducive to forest fires, floods caused by high levels of precipitation, among others.

11/09/2023

Mexico economic deal to come this year; focus on ports, energy

"We're working towards having something important to do together by the end of the year," said António Costa, the Portuguese PM.

11/09/2023

Opposition party hopes to cut youth income tax to a third

PSD intends to reduce the income tax bracket for young people up to the age of 35 to a maximum of 15% (with the exception of the top bracket) from 1 January 2024.

11/09/2023

Wine production to grow but less than forecast due to weather

At the end of July, the Institute of Vine and Wine estimated an increase in production for the 2023/2024 grape harvest of around 8% for a volume of 7.4 million hectolitres.

14/08/2023

Fruit, veg exports break €1B in H1 for first time ever

The results "counteract the downward trend in the value of exports that Portugal recorded in the first half and "confirm the strategic importance of the sector".

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