Portugal

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Portugal Central Bank Picks Lone Star As Top Candidate To Buy Novo Banco

Portugal’s central bank has chosen US private equity firm Lone Star as the leading candidate to buy Novo Banco, the bank which was carved out of collapsed Banco Espirito Santo (BES), the central bank said in a statement, the Irish Times reported. The ...

Daily Headline - global.abi.org - 01/05/2017 - 21:12 - 0 comments

Costa Confounds Critics As Portuguese Economy Holds Course

When António Costa was sworn in as prime minister of Portugal in November 2015, opponents cast the Socialist leader as a reckless adventurer who had won power by means of a diabolical pact with communists and the radical left. “I hope not to be summoned ...

Daily Headline - global.abi.org - 01/02/2017 - 21:14 - 0 comments

Banco Espirito Santo Retail Customers To Get 60 Percent Of Money Back

Around 4,000 retail customers of Banco Espirito Santo who lost their savings when the banking group collapsed in 2014 should get around 60 percent of their money back under a plan presented on Monday by the Portuguese government, Reuters reported. The re ...

Daily Headline - global.abi.org - 12/19/2016 - 21:48 - 0 comments

DBRS Maintains Portugal’s Crucial Credit Rating

A Canadian rating agency has confirmed Portugal’s only investment-grade credit rating in a decision that ensures Lisbon will continue to benefit from the European Central Bank’s government bond-buying programme, the Financial Times reported. DBRS on ...

Daily Headline - global.abi.org - 10/23/2016 - 20:20 - 0 comments

Portugal Looks To Satisfy EU Rules With ‘Budget Of The Left’

Portugal’s “anti-austerity” government has unveiled a draft budget for 2017 that seeks to raise pensions, reduce income tax and increase support for the poor without running foul of EU deficit rules, the Financial Times reported. António Costa, the p ...

Daily Headline - global.abi.org - 10/16/2016 - 21:18 - 0 comments

Europe Worries Portugal Is Prone to a Debt-Crisis Relapse

Portugal’s souring investment climate and weak economic growth are raising concern across Europe and beyond that the country, which required an international bailout five years ago, could choke again on a debt that is now nearly 130% of its gross domesti ...

Daily Headline - global.abi.org - 10/11/2016 - 21:13 - 0 comments

Portugal Faces Slowdown Amid Anti-Austerity Moves, Warns IMF

Portugal’s fragile recovery is losing momentum, with growth held back by sluggish investment and weak exports as uncertainty and corporate debt weigh on the economy, the International Monetary Fund has warned. The consumption-based recovery of the past t ...

Daily Headline - global.abi.org - 09/22/2016 - 22:11 - 0 comments

Eurozone Sets Out New Fiscal Targets for Spain and Portugal

agreed with the European Commission’s arguments about dropping the fines, which, at 0.2% of gross ... amounting to 0.25% of GDP this year, with all windfall gains from one-off measures used to accelerate ...

Daily Headline - global.abi.org - 08/09/2016 - 21:35 - 0 comments

Europe Decides Against Fines for Spain and Portugal

European Union officials, facing the rise of populist movements across the region, opted against hitting Spain and Portugal with sanctions on Wednesday for breaking the bloc’s rules on government spending, the International New York Times reported. T ...

Daily Headline - global.abi.org - 07/27/2016 - 21:06 - 0 comments

Eurozone Slams Spain, Portugal On Excessive Deficits

Eurozone finance ministers agreed on Monday (Jul 11) to officially declare Spain and Portugal in breach of the EU public spending rules, a key step to possibly imposing unprecedented penalties against members of the currency bloc, Channel News Asia repor ...

Daily Headline - global.abi.org - 07/11/2016 - 20:12 - 0 comments

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