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China's Anbang In Talks To Buy Portugal's Novo Banco

The Bank of Portugal is in exclusive talks with China's Anbang Insurance Group Co on the sale of state-rescued Novo Banco, leaving two other bidders on the sidelines, sources said. Two sources close to the bidding process told Reuters China's F ...

Daily Headline - global.abi.org - 08/20/2015 - 18:40 - 0 comments

Portugal Cautioned By IMF Over Debt Sustainability

Even if they had been compiled by his own spin-doctors, Portugal’s latest unemployment figures could hardly have been better for Pedro Passos Coelho, the country’s centre-right prime minister, the Financial Times reported. The last batch of labour ma ...

Daily Headline - global.abi.org - 08/09/2015 - 21:49 - 0 comments

Crisis In Greece Overshadows Campaign In Portuguese Poll

A general election has been called in Portugal for October 4, the first of several national ballots in crisis-hit eurozone countries where images of Greeks queueing at ATMs are likely to influence the outcome, the Financial Times reported. The Portug ...

Daily Headline - global.abi.org - 07/23/2015 - 23:38 - 0 comments

Portugal Gets 3 Binding Offers For State-Rescued Novo Banco

Three bidders have submitted binding offers for Novo Banco, the successor to Banco Espirito Santo after a state rescue last year, the Bank of Portugal said on Tuesday, without naming the institutions. A source close to Chinese group Fosun International t ...

Daily Headline - global.abi.org - 06/30/2015 - 22:18 - 0 comments

Portugal Frets It Could Be Next As Grexit Fears Grow

In the eyes of international lenders, Portugal is a shining example of what Greece should have been: a bailed-out country that co-operates with its creditors, stoically enduring years of austerity to bring about reforms that gradually improve an ailing e ...

Daily Headline - global.abi.org - 06/23/2015 - 22:16 - 0 comments

Portugal’s Antitrust Watchdog Accuses 15 Banks Of Loans Cartel

Portugal’s antitrust regulator has accused 15 banks of unfair competition practices over an 11-year period in which they allegedly shared information about loan products, the Irish Times reported on a Reuters story. The country’s competition authorit ...

Daily Headline - global.abi.org - 06/07/2015 - 22:06 - 0 comments

Suddenly last Summer... The good bank/bad bank dichotomy in Portugal

From the rushed partial enactment of the EU directive to the untested application of a “resolution action”, Nuno Líbano Monteiro discusses the Good Bank/Bad Bank dichotomy as a supposed safeguard for the legitimate interests of customers. Att ...

Resource Article - abi_admin - 06/02/2015 - 13:17 - 0 comments - 1 attachment

Spain and Portugal Can Cope With Grexit

If anyone was going to blink over Greece, one might think it would be Spain or Portugal—the two countries widely considered most at risk if Greece leaves the eurozone. Indeed, both saw a slight rise in their borrowing costs last week at a particularly bl ...

Daily Headline - global.abi.org - 05/03/2015 - 22:14 - 0 comments

Espírito Santo Insolvency Receivers Put Art, Buildings Up for Sale

Art work and office buildings are being sold by bankruptcy receivers for the Espirito Santo group of companies that collapsed last year amid fraud allegations, The Wall Street Journal reported. The 36-story Espírito Santo Plaza in Miami went on the b ...

Daily Headline - global.abi.org - 04/16/2015 - 22:03 - 0 comments

Former BES Chief Ricardo Salgado Dismisses Critical Audit Findings

Former Banco Espírito Santo SA Chief Executive Ricardo Salgado on Thursday dismissed findings from an audit conducted into the bank’s collapse that pointed the finger at his administration and accused the country’s central bank of leading a smear campaig ...

Daily Headline - global.abi.org - 03/19/2015 - 22:36 - 0 comments

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