July 29th, 2010
Bank shares have risen across Europe as stock markets gave a largely positive response to Friday's stress tests. In the UK, shares in Lloyds Banking Group and Barclays rose by more than 3%, while in France, Societe Generale climbed 5.2%. Seven of the 91 European banks that underwent stress tests failed. They ...
July 28th, 2010
Nicky Carter and her partner Derek Harper first visited Portugal in 2003, when they toured all over the country from Aveiro in the north, down the Silver Coast, inland to Castelo Branco and through the Alentejo to the Algarve. It was central Portugual, however, which caught their imagination as a potential ...
July 27th, 2010
European Union stress tests found banks need to raise 3.5 billion euros ($4.5 billion) of capital, about a tenth of the lowest analyst estimate, leaving doubts about whether regulators were tough enough. “The stress tests are a helpful step forward in a number of areas,” Huw van Steenis, head of European ...
July 26th, 2010
The four main Portuguese banks have all passed a European stress test on their financial strength and do not need any fresh capital, the Bank of Portugal said on Friday. Caixa Geral de Depositos, Banco Comercial Portugues, Banco Espirito Santo and Banco Portugues de Investimento together account for two-thirds of Portuguese ...
July 23rd, 2010
As Greece inches closer to the brink of financial collapse, fear that the debt crisis will spread is engulfing Europe. Increasingly, investors wonder if Portugal, Spain and even Ireland may not be able to borrow the billions of dollars they need to finance their government spending. ''It's like Lehman Brothers and Bear ...
July 22nd, 2010
The Portuguese president, Cavaco Silva, Monday in Luanda recommended his country's businesspeople to invest in Angola's inland, based on the priorities of the Angolan government and economic diversifying plan. According to him, the Portuguese entrepreneurs should look to the priorities of development of the country's inland region, diversifying of economy ...
July 21st, 2010
Telefonica SA (TEF, TEF.MC) said early Saturday it wouldn't extend its EUR7.15 billion offer for Portugal Telecom SGPS SA's (PT, PTC.LB) stake in Brazil's Vivo Participacoes SA (VIV, VIVO4.BR) after a drawn-out bidding process. "Portugal Telecom's board of directors didn't accept the bid within the timeframe and it is now ...
July 20th, 2010
Turkey and Portugal decided Wednesday to mutually lift visa procedures for Turkish and Portuguese citizens carrying special and service passports. Paying a one-day visit to the Portugal's capital Lisbon, Turkish Foreign Minister Ahmet Davutoglu met with his Portuguese counterpart Luis Amado. During their gathering, the two ministers signed an agreement envisaging the ...
July 19th, 2010
The eurozone enjoyed strong demand for new bonds on Wednesday as investors scrambled to buy €12.5bn ($15.8bn) in German, Italian and Portuguese debt in a further sign of rising confidence that the worst of the continent’s crisis may be over. Portugal is one of the countries most closely watched by investors ...
July 16th, 2010
PORTUGAL was hit with another credit downgrade on Tuesday, with the rating agency Moody's citing worsening public finances as the central bank warned of a sharp economic slowdown later this year. Moody's Investors Service said it had lowered Portugal's sovereign debt rating two notches from AA2 to A1 with a ...
