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.
2 June 2016
The Organization for Economic Cooperation and Development (OECD) has lowered its growth forecast for the Portuguese economy in 2016 to 1.2 percent, and its forecast for the budget deficit upwards to 2.9 percent, according to a report published in Paris Wednesday. In the report released in November 2015, the OECD prjected growth for Portugal this year of 1.6 percent and 2.8 percent in relation to the budget deficit.
31 May 2016
The China Civil Aviation Authority has notified its counterpart in Portugal of the intention of Capital Airlines, of the Hainan Airlines Group, to start operating direct flights between Portugal and China, Portuguese financial daily Jornal de Negócios reported in Lisbon. "The National Civil Aviation Authority has received communication from its Chinese counterpart, giving an account of the intention of a Chinese air carrier at the end of the year, to start operating scheduled air services on the Hangzhou - Beijing - Lisbon route on a twice weekly basis," a spokesman from the Portuguese regulator, which must approve the link, told the newspaper.
26 May 2016
Portuguese group Ibersol plans to open 13 new restaurants in Portugal and Angola in 2016, with "two or three" units opening in Angola, according to the company's first quarter report. The report and accounts for the first quarter for Ibersol, which manages catering brands like Pizza Hut and Kentucky Fried Chicken does not specify which brands will have new units this year and is aware of the difficulties of the Angolan market.
25 May 2016
TAP Express is the latest airline to operate the E-Jets of Brazilian aeronautical company Embraer in Europe, with the launch on Monday of a flight to Nice, France, Embraer said. The entry into service of the E190 jet is part of the renewal strategy of the regional fleet of TAP Air Portugal, which is now operating under the new trademark TAP Express, replacing the designation Portugalia PGA Airlines, which aims to give greater consistency to the TAP brand and product, boosting its commercial identity.
18 May 2016
The ministers of maritime affairs of the Community of Portuguese-Speaking Countries (CPLP) are meeting Wednesday in Dili, Timor-Leste (East Timor), at the third meeting to discuss the expansion of the so-called "blue economy" and the conservation and sustainable use of the seas and oceans. The purpose of the meeting, according to a statement released by the CPLP, is an "appeal to the conscience" of leaders for economic and business cooperation for the "blue economy", mainly in the areas of fisheries, tourism and exploration of hydrocarbons and other resources.
17 May 2016
Portuguese finance company Dominio Capital is partnering emerging markets investment bank Renaissance Capital to provide investment banking services in Mozambique, the company said in a statement sent to Macauhub. Under the agreement, Dominio Capital will channel investments to be made by Renaissance Capital and its investors into the Mozambican and Angolan markets, as well as the providing services in the area of initial public offerings, privatisations and mergers and acquisitions in the financial market.
13 May 2016
12 May 2016
Portuguese exports to Angola fell by 45 percent in the first quarter of 2016 to 303 million euros, a fall of 248 million euros in real terms, said Tuesday in Lisbon the National Statistics Institute. In the same three-month period Portuguese companies imported from Angola goods worth 217 million euros, an increase of 12.5 percent or 24 million euros in real terms.
12 May 2016
Chinese businessmen who are members of the Shanghai New Entrepreneurs Association may invest in Portugal, particularly in professional football, the chairman of the ShanShan group, Zheng Yonggang, said in Lisbon. The businessman, cited by the Portuguese press, mentioned the possibility of investments of up to 10 billion euros in various sectors of activity, including professional football and the real estate, antiques, tourism, high technology and finance sectors.
10 May 2016
A delegation with representatives of the governments of the Great Pearl River Delta will travel to Portugal next June to explore business opportunities, said Gloria Batalha Ung, director of the Macau Institute for Trade and Investment Promotion (IPIM), according to Portuguese-language newspaper Tribuna de Macau. The executive member of the Board of IPIM said the mission, which will include three or four representatives of the provinces of Guangdong, Fujian, Jiangxi, Hunan, Guangxi, Hainan, Sichuan, Guizhou and Yunnan and the special administrative regions of Macau and Hong Kong, shows that the Macau services platform is not only intended for companies but also for governments.
5 May 2016
Trade between China and the Portuguese-speaking countries contracted by 23.03 percent year on year in the first quarter of the year to US$16.727 billion, according to official figures published in Macau. Over the first three months of the year China exported to the eight Portuguese-speaking countries goods worth US$5.844 billion (-44.95 percent) and imported goods amounting to US$10.882 billion (-2.1 percent), assuming a deficit of US$5.038 billion.
4 May 2016
The budget deficit in Portugal is expected to be 2.7 percent of GDP this year and 2.3 percent in 2017, the European Commission said Tuesday in Brussels in its report on the Spring economic forecasts. These deficits are higher than those included in the Stability and Growth Programme recently presented by the Portuguese government, which provides that the budget deficits in 2016 and 2017 will be 2.2 percent and 1.4 percent of GDP, respectively.