Thursday , June 27 2019
Breaking News

Portugal

Pakistan’s first in-depth newspaper that presents balanced news reports, analysis and reviews regarding Customs, Federal Board of Revenue (FBR) and Sales/Income Tax Departments beside covering import and export sectors comprehensively. Up-to-the-minute news bulletins regarding Customs and FBR departments are also displayed regularly on both website and face book for the interest of common people

Maersk invests €1.5M in HUUB fashion supply startup

SMIT_ELBE_a_MADRID_MAERSK__34423705434_

Maersk has invested €1.5 million in Portuguese technological startup HUUB, which operates in the supply chain of the fashion industry. “The seal, sealed with Maersk, the world’s leading shipping company and one of the largest global groups in the field of logistics, with a turnover of $40 billion/year, represents the Danish multinational’s first investment in a Portuguese startup,” HUUB said ... Read More »

Portugal becomes the first euro zone country to issue debt on China’s market

104620985-GettyImages-646610516_1

Portugal has become the first ever euro zone country to issue bonds denominated in the Chinese yuan. Known as “Panda” bonds, that’s yuan-denominated debt issued by a foreign sovereign issuer, the sale will take place Wednesday and Thursday. The southern European country announced last week its intention to sell 2 billion yuan ($289 million) worth of bonds with a maturity ... Read More »

Maersk invests €1.5 million in the Portuguese fashion logistics startup HUUB

HUUB-696x522

Porto-based HUUB allows online fashion shops to focus on fashion, not shipping. Its platform integrates with ecommerce sites, providing a full range of logistics solutions including production follow-up, picking, storage, stock management, order fulfillment, packing, and shipping. HUUB’s algorithms also analyse sales to determine replenishment strategies and prevent understocking. The fashion logistics startup has just raised €1.5 million from the ... Read More »

EU gives Spain, Portugal more time on deficits

880x495_333044 (1)

The European Commission has shied away from punishing Spain and Portugal over their excessive budget deficits. The EU executive has the power to fine governments that consistently spend more than they receive in tax revenues. Spain budget deficit stood at five percent of GDP last year; Madrid’s initial target had been 4.2 percent. Portugal’s deficit was 4.4 percent, which is ... Read More »

Tax authorities refund €1.26 billion in April

page16_Tax_2

Portugal’s finance ministry paid €1.26 billion regarding 1,187,716 refunds in the first month of the personal income tax (IRS) campaign, authorities said. Between 1 and 30 April, tax authorities refunded a total of 2,582,366 tax declarations, 167,000 more than in the same period 2018. The ministry said that a total of 2,666,9993 personal income tax declarations were validated in April, ... Read More »

Euro zone bond rally powers on, Portugal auction sets tone for Ireland

00058f31-800

Irish, Portuguese and Spanish bond yields hit fresh historic lows today and Portugal saw firm demand at an auction in the latest sign of strong investor interest for long-dated euro zone debt. In contrast to sharp yield falls across most European bond markets, Italian yields rose on concerns over tension within the ruling coalition. Portugal sold all €1.25 billion of ... Read More »

Portugal PM to address nation on teachers’ pay

download (57)

Portugal’s Prime Minister Antonio Costa will address the nation later on Friday after parliament voted in favour of granting teachers salary increases held back over several years since 2005, a government spokesman said. Costa was due to meet President Marcelo Rebelo de Sousa at 1400 GMT and would then deliver a televised address from his residence, the spokesman said, without ... Read More »

Ryanair pilots in Portugal vote for pay agreement

download (54)

Irish-based carrier Ryanair said its pilots based in Portugal have voted for a labor agreement for the next four years, taking another step to head off any risk of another round of damaging strikes ahead of its peak summer season. The agreement governing pay and conditions was negotiated between Ryanair and the Portuguese pilot union SPAC to cover all of ... Read More »

Portugal has ‘no future’ with high public debt – finance minister

MARIO_CENTENTO_2_14

Portugal’s finance minister Mario Centeno has called for the need to cut Portugal’s public debt, saying the country would have “no future” if it didn’t. “The country has no future if the debt does not drop,” Centeno, who also leads the Eurogroup, said during a debate on the country’s stability programme for 2019-2023. “It is not possible to implement the ... Read More »

Ryanair pilots in Portugal vote for pay agreement

download (48)

Irish-based carrier Ryanair said on Tuesday its pilots based in Portugal have voted for a labor agreement for the next four years, taking another step to head off any risk of another round of damaging strikes ahead of its peak summer season. The agreement governing pay and conditions was negotiated between Ryanair and the Portuguese pilot union SPAC to cover ... Read More »

Public debt rises by 1.2 billion in February

download (43)

Portugal’s public debt stood at €249.3 billion in February increasing by €1.2 billion from the end of January, the country’s central bank, the BdP, announced. This is the value calculated within the Maastricht framework, which concerns the rules established by Brussels regulators, and the Bank of Portugal explains it “was mainly driven by an increase in debt securities issued”. According ... Read More »

TAP Air Portugal Receives First Airbus A321LR

A321LR-TAP-Delivery-700x415

TAP Air Portugal welcomes the first A321LR aircraft into its growing fleet of Airbus aircraft. With a total of 75 total Airbus aircraft and 12 more on order, the A321LR is expected to assist the expansion efforts of TAP into new markets. April 2019 marks the initiation of the Airbus A321LR into the TAP Air Portugal fleet, the carrier the ... Read More »

Ryanair pilots in Portugal vote for pay agreement

5b59d999e361c033008b45f9-750-562

Irish-based carrier Ryanair said its pilots based in Portugal have voted for a labor agreement for the next four years, taking another step to head off any risk of another round of damaging strikes ahead of its peak summer season. The agreement governing pay and conditions was negotiated between Ryanair and the Portuguese pilot union SPAC to cover all of ... Read More »

Portugal’s EDP could create Latam JV with China Three Gorges if takeover bid fails – sources

FILE PHOTO: The logo of Portuguese utility company EDP - Energias de Portugal is seen at the company's offices in Oviedo, Spain, May 14, 2018. REUTERS/Eloy Alonso/File Photo

Portugal’s Energia de Portugal EDP could propose a joint venture with China Three Gorges (CTG) allowing CTG to expand its foothold in Brazil and Latin America if the Chinese power giant’s bid to take over EDP fails, people familiar with the matter said. CTG, EDP’s main shareholder with a 23 percent stake, is among Chinese state-backed companies that have been ... Read More »

Finanças seized 300,000 bank accounts and properties last year

financas

Portugal’s tax authority seized 300,000 bank accounts and properties last year, a drop of 17% and the lowest number since 2014. Despite the overall drop, real estate seizures increased between 2017 and 2018, rising from 16,166 to 18,008, including industrial and commercial buildings, lots of construction land, other land and houses. In May 2016, new legislation permitted the seizure of ... Read More »

Eight Portuguese bankers earn a million or more

Page17_Fernando_Ulrich (1)

According to figures released by the European Banking Authority relating to figures for 2017, the number of millionaire bankers in Portugal remained unchanged in relation to the previous year. On a European level, the number of bankers earning a million euros rose to just under 4,900, with the UK being the largest recipient. The European Banking Authority (EBA) data shows ... Read More »

Public debt drops to 121.5 percent of GDP

greece-government-debt-to-gdp

Portugal had a debt-to-GDP ratio of 121.5 percent by the end of 2018, below the previous year’s ratio of 124.8 percent, the country’s central bank announced. This is the value calculated under Maastricht rules, which are those that Brussels considers. The value calculated by the Bank of Portugal (BdP) is slightly higher than the goal set by the government for ... Read More »

Banker Tomás Correia contests €1.25m central bank fine

page18_Banker

“We are going to contest”, the source said, adding that “fines do not prohibit the professional activity” of Tomás Correia and “they are about credits granted to group companies and not to external clients”. The Portuguese newspaper Público, disclosed on Thursday that the Bank of Portugal had found Tomás Correia along with seven former board members from Montepio bank, and ... Read More »

‘Portuguese bank halted $1.2 bln transfer of Venezuela funds’

BdP_24

Portugal-based Novo Banco halted a transfer of $1.2 billion by the government of Venezuelan President Nicolas Maduro to banks in Uruguay, a Venezuelan legislator said, a day after the opposition denounced what they called the theft of public funds. Opposition leader Juan Guaido, who most European and Western Hemisphere nations have recognized as the country’s legitimate leader, said on Monday ... Read More »

‘Portuguese bank halted $1.2 billion transfer of Venezuela funds’

download (8)

CARACAS: Portugal-based Novo Banco halted a transfer of $1.2 billion by the government of Venezuelan President Nicolas Maduro to banks in Uruguay, a Venezuelan legislator said on Tuesday, a day after the opposition denounced what they called the theft of public funds. Opposition leader Juan Guaido, who most European and Western Hemisphere nations have recognized as the country’s legitimate leader, ... Read More »