12 August 2016
Brazilian investment bank BTG Pactual has decided not to purchase Banif Brasil, withdrawing its non-binding bid to purchase the Brazilian subsidiary of the Banif Portugal banking group, the bank announced in a statement to the market. The proposed purchase, which involved other assets of the Banif Portugal group and Oitante, was withdrawn due to “non-verification of the precedent conditions contained in the bid,” indicates the statement released on Wednesday.
11 August 2016
Portugal’s public debt stood at 240.1 billion euros or 131.6 percent of gross domestic product at the end of June, the highest indebtedness ever, the Technical Budget Support Unit (UTAO) announced. The UTAO provides technical support to parliament. In its monthly statement on public debt it reported that indebtedness recorded at the end of June was higher than the end-of-year figure forecast by all national and international organisations.
5 August 2016
Portugal’s budget deficit should stand at 3.4 percent of gross domestic product this year, above the 2.2 percent forecast by the government and the 2.5 percent required by the Europan Commission, Fitch Ratings has predicted. For 2017 that credit rating agency predicts that Portugal’s budget deficit will only decline by a tenth of a point to 3.3 percent, thereby keeping the country in the excessive deficit procedure, indicates a report released on Thursday.
1 August 2016
29 July 2016
Portuguese meat products company Sicasal is preparing to transfer some of its production to Angola following a 50% drop in exports to the West African country, the company's chairman said on Thursday in Luanda. Alvaro Santos Silva, who is in Angola as part of a Portuguese business delegation that, together with the Minister of Agriculture, Luis Capoulas Santos, is visiting the country to strengthen institutional bilateral and business cooperation, also said that in 2015 the company exported 40 million euros' worth of products to the Angolan market.
28 July 2016
Twenty-five executives and technicians from the traditional medicine sector in Brazil, Cabo Verde (Cape Verde), Guinea-Bissau, Mozambique, Portugal and Timor-Leste (East Timor) took part in a symposium in Macau organised by the Training Centre of the Forum for Economic and Trade Cooperation between China and Portuguese-speaking Countries (Macau), according to official information. The conference, which began on 18 July was held at the Guangdong-Macau Traditional Chinese Medicine Industry-park, whose facilities were visited on Wednesday by the executives and technicians in order to see current development.
26 July 2016
26 July 2016
Sao Tome and Principe travel agency JBC Travel and Tours on 30 August is due to start flights between São Tomé and Lisbon, Portugal, via Johannesburg, South Africa, the company's managing director, Bilssen Coelho said on Monday. The flights, which will be offered three times a week, Coelho said, will use an Airbus aircraft with a capacity of up to 150 passengers.
21 July 2016
The government of Angola has awarded Portuguese group DST (http://www.dstsgps.com/) a project to expand the water supply system on the outskirts of Luanda for US$17.1 million, according to a presidential order . The work is part of the 2016-2017 action plan of priority water supply projects and is carried out "under the financing agreements between the Republic of Angola and the Republic of Portugal," said the order cited by Portuguese news agency Lusa.
20 July 2016
8 July 2016
7 July 2016
5 July 2016
Mozambican entrepreneur and managing director of Intelec Holdings, Maria Assunção Abdula, has been elected as the first president of the Federation of Business Women and Entrepreneurs of the CPLP (FME-CPLP), which was recently established in Lisbon, Portugal. The founding general meeting of the federation was held on 29 June in the Portuguese capital. The foundation's board and its vice presidents are made up of female representatives from each of the nations of the Community of Portuguese Language Countries (CPLP).
4 July 2016
The European Commission is expected to give Portugal three weeks to adopt measures to correct the budget deficit in order to avoid sanctions for breaching agreed deficit levels, Portuguese newspaper Observador reported. The three-week period will begin when the college of commissioners makes the decision. This is expected to happen on Tuesday if Ecofin (27 EU ministers) concludes that Portugal (and Spain) has not taken effective measures.
29 June 2016
The representatives of the governments of the Pan-Pearl River Delta Region (9+2 Group) are optimistic about the prospects of cooperation between China and the Portuguese-speaking countries, according to the Macau Trade and Investment Promotion Institute (IPIM). In a statement, IPIM adds that some members of the delegation, which concluded an eight-day visit to Portugal and Belgium on 24 June, consider that the visit was an important step for the provinces and regions of the "9+2 Group" to expand outwards together and, at the same time, highlight the unique role of Macau.
27 June 2016
China's ambassador to Portugal said in Lisbon that the Portuguese government is waiting for Chinese companies to get involved in the country's energy, services, financial, insurance, medical, health, maritime business, agricultural and infrastructure sectors. Cai Run was speaking in the Portuguese capital to an economic delegation from the Pan Pearl River Delta (9+2) region, which includes nine Chinese province (Fujian, Jiangxi, Hunan, Guangdong, Guangxi, Hainão, Sichuan, Guizhou and Yunnan) and the Special Administrative Regions of Macau and Hong Kong, which visited Belgium and Portugal from 19 to 24 June.
20 June 2016
The European Central Bank has lowered its growth forecast for the Portuguese economy to 1,3 percent in 2016, after announcing a forecast of 1.5 percent in March, according to a statement issued last week. The ECB, on publishing its Eurosystem projections, also expects the Portuguese economy to grow by a tenth of a decimal point less in the following years compared to figures released in March. It projections now point to growth of 1.6 percent in 2017 (1.7 percent in March) and 1.5 percent in 2018 (1.6 percent in March).
20 June 2016
Portugal's Novo Banco, the bank that inherited the quality assets of bankrupt bank Banco Espirito Santo (BES) may be sold on the stock exchange and its listing prospectus is practically concluded, Portuguese weekly newspaper Expresso reported. The newspaper also reported that the sale on the stock market was now considered an increasingly viable way of the State selling off its stake, although the Bank of Portugal has not given up its hope of selling the bank's entire capital to a single buyer, which is considered to be the ideal solution.
14 June 2016
Portugal and Sao Tome and Principe this month signed a new four-year Strategic Cooperation Programme (PEC) worth 43.5 million euros, the Prime Minister of Sao Tome, Patrice Trovoada said recently. The prime minister, who was speaking during the launch of work to build a #new fish market in Bobo Forro, about three kilometres from the capital, noted the authorities had "some concern" about the delay in signing this new PEC, "as it should have been signed six months ago."
3 June 2016
Portuguese businesspeople plan to invest in the agricultural sector in Guinea-Bissau, said Thursday in Bissau the head of the Portuguese delegation at the end of an audience granted by the President José Mario Vaz. Antonio Tavares said that this is a set of distinct projects that are likely to contribute to the development of agriculture with a view to establishing the country's food self-sufficiency.