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Portugal

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Portugal’s rail passengers increase by 1.1% in Q1-2015

LISBON: The Portuguese National Statistics Institute (INE) said on Tuesday that rail passengers, including Lisbon and Porto metros, continued to increase in 2014, but at a slower rate, climbing 1.1% in the last quarter of the year and 1.7% overall. The INE said that there were 32.7 million passengers in the last quarter of last year. The metros carried 50.4 ... Read More »

Portugal tax burden rises to 41.2% in 2014

LISBON: Figures released last night by the Organisation for Economic Cooperation and Development showed that the proportion of salaries in Portugal absorbed by tax and social security contributions has risen by 3.9 percent the past 15 years. The contributions had fallen by just under 1 percent since the year 2000 in member countries, but that the tax and social security ... Read More »

Portugal’s rail passengers increase by 1.1% in Q1-2015

LISBON: The Portuguese National Statistics Institute (INE) said on Tuesday that rail passengers, including Lisbon and Porto metros, continued to increase in 2014, but at a slower rate, climbing 1.1% in the last quarter of the year and 1.7% overall. The INE said that there were 32.7 million passengers in the last quarter of last year. The metros carried 50.4 ... Read More »

Portugal’s real estate investment to rise to €1bn in 2015

LISBON: According to Aguirre Newman SA, a real estate consulting company in Lisbon, the Investment in Portuguese real estate in 2015 will rise to about €1 billion in 2015 from €730 million last year as private equity funds enter the market, according to Aguirre Newman SA, a real estate consulting company in Lisbon. Portugal’s economic growth will accelerate to 1.7 ... Read More »

Portuguese flag carriers group TAP ends 2014 with losses of €85.1 million

LISBON: Portuguese flag carriers group TAP ended 2014 with losses of €85.1 million, a massive €79.2 million more than the €5.9 million seen in 2013, because of poorer air transport earnings, the company said. Manutenção e Engenharia Brasil recorded a loss of €22.6 million which was some €17.7 million better than the previous year and is now in the fourth ... Read More »

Portugal’s real estate investment to rise to €1bn in 2015

LISBON: According to Aguirre Newman SA, a real estate consulting company in Lisbon, the Investment in Portuguese real estate in 2015 will rise to about €1 billion in 2015 from €730 million last year as private equity funds enter the market, according to Aguirre Newman SA, a real estate consulting company in Lisbon. Portugal’s economic growth will accelerate to 1.7 ... Read More »

Portuguese firm wins contract to build 50,000 homes in Venezuela

LISBON: Portuguese construction company Lena, from Leiria, has managed to win a contract to build 50,000 homes, as part of an enormous project to construct a new city in Venezuela. The lucrative contract involves building a city in Ocumare, 60km from Caracas, with the project part of government plans in the country to provide 2 million of the poorest people ... Read More »

Portugal’s virtual toll payment system rises 19.3% on Easter: Customs

LISBON: According to Customs of Portugal Estradas de, the numbers of non-Portuguese licence plated vehicles signing up to the electronic toll payment systems rose by 19.3% over the Easter period. The EasyToll system saw a total of 8,600 new members over the holiday period with Spanish drivers responsible for over half of the total.   The Algarve A22 was found to ... Read More »

80 investors under investigation for BES insider trading

LISBON: The chairman of the Portuguese Stock Market Regulator (CMVM), Carlos Tavares stated, that the preliminary investigations have been opened into “about 80 investors who made expressive sales” of Banco Espirito Santo (BES) shares before it collapsed. Tavares said the investigations had to do with institutional investors, mainly foreign and private investors who were mainly Portuguese, people connected to BES ... Read More »

Portugal’s vehicle sales up 36.5% to 22,975 in March

LISBON: Finance and industry ministry said that the vehicle sales in Portugal rose by 36.5% a total number of 22,975 vehicles sold in March compared to last year, but while the boost has seen consumer confidence returning, the revenue in the industry is still below pre crisis levels. Peugeot and Volkswagen also saw their popularity growing. In a statement, ACAP ... Read More »

Portuguese Customs seizes 32,848kg of hashish, 35kg of heroin in 2014

LISBON: Portugal’s Customs statics showed that around 32,848 kilos of hashish were apprehended in Portugal during 2014, 3,738 of cocaine, 35 kilos of heroin and 6,739 units of ecstasy, which was down from 14.633 in 2013. It is not only drugs that are taken by police from traffickers, with 2014 seeing 2,450 mobile phones, 134 weapons, 15 boats, 297 cars ... Read More »

Portugal’s 95% train ticket offices remain closed due to strike

LISBON: The Railway trade review union said that almost 95 percent of the CP train ticket offices are closed due to a strike by workers in the commercial sector of the company, which also includes ticket inspectors. Luis Bravo, from the Railway Trade Review Union said that only two long distance trains ran until 8am and no urban trains and ... Read More »

Portugal’s 95% train ticket offices remain closed due to strike

LISBON: The Railway trade review union said that almost 95 percent of the CP train ticket offices are closed due to a strike by workers in the commercial sector of the company, which also includes ticket inspectors. Luis Bravo, from the Railway Trade Review Union said that only two long distance trains ran until 8am and no urban trains and ... Read More »

Portugal’s labour cost drops 8.8% in 2014

LISBON: EU’s statistics office released a statement that the Labour costs in Portugal were down 8.8% in the fourth quarter of 2014,the same period a year earlier, the largest drop among European Union member states. In the Euro Zone labour costs were up 1.1 percent on the year and in the EU as a whole 1.4 percent, the Eurostat report ... Read More »

Portuguese securities advance as ECB’s 1.1tr-euro bond-buying program stokes demand

LISBON: Portuguese securities advanced, extending their world-leading gains this year, as the European Central Bank’s 1.1 trillion-euro ($1.2 trillion) bond-buying program stoked demand for government debt. Italian and Spanish bonds also gained. Austria sold securities due in September 2021 and March 2026 on Tuesday, while Germany offered inflation-linked debt maturing in April 2026. All three of those bonds are eligible ... Read More »

Portugal’s real estate investment to rise to €1bn in 2015

LISBON: According to Aguirre Newman SA, a real estate consulting company in Lisbon, the Investment in Portuguese real estate in 2015 will rise to about €1 billion in 2015 from €730 million last year as private equity funds enter the market, according to Aguirre Newman SA, a real estate consulting company in Lisbon. Portugal’s economic growth will accelerate to 1.7 ... Read More »

Portuguese EPAL‘s net profit hits €54 million in 2014

LISBON: Portugal ‘s state owned water company EPAL stated that its net profit  increased around  €54 million in 2014.Following the recent approval of the financial report and accounts for last year by the General Assembly, the statement described the result as “the best in the 147 year history of the company.” “The excellent business performance attained in 2014 came about ... Read More »

Portugal’s Telecom revenue down 4.1% to €2.4b in 2014

LISBON: Portugal telecom’s operating revenue decreased by 4.1% to €2.4 billion in 2014. The operator said that this was less than the market contraction of 4.8 percent. On a consolidated basis, revenues amounted to EUR 2.7 billion and EBITDA reached EUR 1.05 billion, equivalent to a margin of 38.7 percent. In a statement to the stock market, the operator said ... Read More »

Portuguese raspberries exports hit €64 million in 2014

LISBON: The raspberry was the second most important Portuguese fruit export by value in 2014 and attained export revenues of €64 million according to a recent study by Pedro Brás de Oliveira, of the National Institute of Agricultural and Veterinary Research. Raspberries climb to second highest in Portuguese fruit exports The study sets out the strategic framework for the 2014-2020 ... Read More »

Portugal labour costs down 8.8% in 4th quarter of 2014

LISBON: The EU’s statistics office released a report that showed that the labour costs in Portugal in the fourth quarter of 2014 were down 8.8 percent on the same period a year earlier, which is the largest drop in European Union member states. In the Euro Zone labour costs were up 1.1 percent on the year and in the EU ... Read More »