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Spain, Portugal bust gang smuggling eels worth $625 million to Asia

MADRID—A joint investigation by Spanish and Portuguese authorities has brought down a criminal network that has been making lucrative profits by smuggling glass eels to Asia. In the latest operation against the traffickers that was concluded in March but only revealed Friday, four Chinese citizens, three Spaniards and three Moroccans were arrested in Spain in an operation co-ordinated by the ... Read More »

Spain, Portugal seize cocaine smuggled inside pineapples

Spanish and Portuguese police say a joint operation resulted in the seizure of hundreds of pounds of cocaine concealed inside crates of fresh pineapples. According to News 24, The Iberian police forces arrested nine members of an international smuggling ring that transported the drug from South America. The seizure was part of an ongoing investigation across both countries. Aside from ... Read More »

JetBlue’s founder wants to turn a 73-year-old airline and its home in Portugal into the next gateway into Europe

David Neeleman has a long history of success in the airline business. He’s either founded or co-founded four major airlines and is reportedly working on a fifth. You may have heard of a few of Neeleman’s success stories like WestJet, JetBlue, and Azul. Even though Neeleman has long departed WestJet and JetBlue, he is still involved in the day-t0-day operations ... Read More »

Spain, Portugal escape EU budget fines

(BRUSSELS) – EU Member States agreed Monday to waive fines on Portugal and Spain for failing to take effective action to correct their excessive budget deficits, setting new deadlines for corrective action. Sanctions under the EU’s excessive deficit procedure had been triggered on 12 July, when the EU found that neither country had taken effective action to reduce its deficit ... Read More »

In Portugal, trust in China is the art of the deal

LISBON: Utility company EDP may balk at the meager 5 percent premium offered for its shares by China Three Gorges (CT) but the battle for Portugal’s biggest business has largely played out already. To some it looks like a lowball bid, but Portugal has welcomed the offer because it considers the Chinese firm’s pledge to keep EDP-Energias de Portugal intact ... Read More »

Goldman Sachs, KKR invest $360 million in Portugal tech firm

LISBON: Portugal’s OutSystems, a platform which allows users to build software applications with minimal coding, has raised $360 million from Goldman Sachs and U.S. investment firm KKR, valuing it at more than $1 billion and allowing it to beef up its leading position in this niche market. Goldman and KKR took a minority stake in OutSystems with the financing, which ... Read More »

Port of Lisbon dock workers begin two-week overtime strike

In a statement, SEAL said the strike notice on work beyond the normal period on working days and “for all work on Saturdays, Sundays and holidays” between 8am on Monday and 8am on 2 June, was published on 6 May. The union said at the time that it had “some moderate optimism” about reaching a “global understanding” at a meeting ... Read More »

Portugal exports €700m in energy to Spain since 2016

Portugal has exported €700 million in electrical energy to Spain since 2016, with exports in the first four months of this year alone exceeding €102 million, the secretary of state for energy, Jorge Seguro Sanches, said in a statement. After years of importing more energy than it exported, Portugal in 2016 exported €200 million more than it imported, last year ... Read More »

Portuguese president calls London homeless man’s death inhumane

Portugal’s president has described the circumstances in which a homeless Portuguese man died near the UK parliament as “inhumane”. Marcelo Rebelo de Sousa paid tribute to the unnamed man found dead in an underpass near Westminster tube station, a stone’s throw from an entrance to the Houses of Parliament. In a statement on the official website of the president of ... Read More »

Canada PM sees ‘big opportunities’ for bilateral trade from EU deal

“We share the same values,” Trudeau said in the interview broadcast by Omni Television, as part of the programme ‘Focus Portuguese’. “We have the same approach to trade. There are big opportunities for the countries in working and growing together.” Trudeau gave the interview in the wake of an official visit to Canada by Portugal’s Prime Minister, António Costa, from ... Read More »

Portugal’s president vetoes new gender-change law

Portugal’s President Marcelo Rebelo de Sousa has vetoed a law that would have made it easier for people to change their gender and name in documents. The law, approved by parliament last month, would have allowed citizens to make the legal changes from the age of 16 without the need of a medical test. Currently, people must be at least ... Read More »

Portugal ‘regrets’ USA withdrawal from Iran agreement

The Portuguese government “deeply regrets” the USA’s rejection of the Iran nuclear deal and hopes it is compensated by the determination of the other signatories to maintain their position, the Portuguese foreign minister said. Augusto Santos Silva said the government saw the agreement as a “positive instrument” to “stop Iran getting its own nuclear weapons”. He warned that the USA’s ... Read More »

Portugal exports €700m in energy to Spain since 2016

LISBON: After years of importing more energy than it exported, Portugal in 2016 exported €200 million more than it imported, last year exported a net €140.75 million, according to the statement.  It quotes Sanches as saying that the growth in net exports of electrical energy reflect Portugal’s investment in renewable energy generation.  In turn, it adds, “the increase in production ... Read More »

Global Portugal disposable tableware market analysis 2018

LISBON: Global Portugal Disposable Tableware market research study trails vital business parameters and events such as technological innovations, mergers and acquisitions, Portugal Disposable Tableware product launches and different business strategies of the Portugal Disposable Tableware market taken up in past few decades and that need to be conducted in upcoming five years from 2018 to 2023. The Portugal Disposable Tableware report performs ... Read More »

Portugal considers Mercantile Bank short list

LISBON: Given the Reserve Bank’s preference for a “shareholder of reference”, the buyer is likely to have deep pockets. However, other banks may be precluded due to competition issues. Caixa, which has been Mercantile’s sole shareholder since it delisted in 2012, is Portugal’s largest bank by assets. The sale of Mercantile and other banking assets globally was a European Central ... Read More »

Trading Bitcoins may not be subject to taxation in Portugal

LISBON: Cryptocurrency or virtual coins are not technically considered “currency” since they do not have a legal course or legal tender power in Portugal. However, they can be exchanged for real currency (euros, dollars, or others) near specialized companies for this purpose. Its value against the real currency is determined by the online search of the cryptocurrency. According to the ... Read More »

Global Portugal Disposable Tableware Market

LISBON: The latest trending report Global Portugal Disposable Tableware Market by Manufacturers, Countries, Type and Application, Forecast to 2022 offered by is an informative study covering the market with detailed analysis. The report will assist reader with better understanding and decision making. Disposable Tableware including the disposable plates, disposable bowls, disposable cups and disposable silverware. This report focuses on the Portugal ... Read More »

Exports to China up 18.3% in first two months

LISBON: The fiigures, based on statistics from the Chinese Customs Services showed that trade between Lisbon and Beijing amounted to US$928 million (€752 million) through February.  Portugal imported goods worth approximately US$586 million from China, with Lisbon having a negative trade balance with China of about US$245 million.  Imports of Chinese products increased by US$161 million (17.5%), compared to the ... Read More »

Payments Landscape in Portugal Market Size Share Trends Analysis and Growth Forecast to 2021

LISBON: Payment card markets operating in the industry, and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2017-21f). It also offers information on the country’s competitive landscape, including the market shares of issuers and schemes. “Payments Landscape in Portugal: Opportunities and Risks to 2021”, report provides detailed ... Read More »

Portugal trade deficit widens in February

LISBON: Portugal’s foreign trade gap increased in February from a year ago, as exports grew slower than imports, figures from Statistics Portugal showed Monday. The trade deficit rose to EUR 991 million in February from EUR 821 million in the corresponding month last year. In January, the shortfall was EUR 1.2 billion. In nominal terms, exports climbed 6.2 percent year-over-year ... Read More »