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Moody's upgrades Portugal's debt a notch
Moody's on Friday raised the debt rating of Portugal one notch to Ba1 and said it had a stable outlook, despite troubles at a major banking group. Moody's cited the Portuguese government's "comfortable liquidity position, with regained access to the public debt markets and sizeable cash buffers" as a factor in making the upgrade. The rating firm said it expected that the country's fiscal ...
Fri, 25 Jul 2014 14:22:28 -0700

Portugal and Serbia in second straight semi-final
Portugal and Serbia met in the 2013 semi-finals and it took penalties to separate them; Veljko Paunović expects another "very tough contest against phenomenal opponents".
Sun, 27 Jul 2014 09:19:53 -0700

Rich French Fleeing Hollande Taxes Find Haven in Portugal
Lisbon real estate agent Paulo Silva says Portugal's property market has a Frenchman to thank. "The French president's taxes are prompting many to flee their country," Silva, who heads real estate agency Aguirre Newman, said in an interview. "Many of these wealthy French are coming to Portugal to take advantage of a series of tax benefits that are better than in other countries." An increase of ...
Thu, 24 Jul 2014 07:16:45 -0700

CEO of Oi, linchpin of Portugal Telecom deal, faces tougher tests
For Brazil's struggling Grupo Oi SA, it seems the only stock rising these days is that of its Chief Executive Officer Zeinal Bava. When an 897 million euro ($1.21 billion) default threatened to scuttle Oi's merger with Portugal Telecom SGPS SA, Bava played a key role in talks that saved the deal. A new accord shielded Oi from potential losses and forced Portugal Telecom, his former employer, to ...
Fri, 25 Jul 2014 10:14:03 -0700

Portugal thriving under pressure, says Podstawski
High expectations are the main reason for Portugal's successful showings in Hungary according to captain Tomás Podstawski, adding: "We always play to win."
Sun, 27 Jul 2014 08:04:54 -0700

Moody's raises rating on Portugal's government bond
Moody's Investor Service raised Portugal's government bond rating on Friday to "Ba1" from "Ba2", on expectations that the country's fiscal consolidation will remain on track. Portugal's highest court in May struck down several budget measures, including some public sector salary cuts, creating a fiscal gap of about 700 million euros this year. "The first driver behind the upgrade is Moody's view ...
Fri, 25 Jul 2014 14:59:39 -0700

Rich French Fleeing Hollande Taxes Find Sanctuary in Portugal
Lisbon real estate agent Paulo Silva says Portugal's property market has a Frenchman to thank. "The French president's taxes are prompting many to flee their country," Silva, who heads real estate agency Aguirre Newman, said in an interview. "Many of these wealthy French are coming to Portugal to take advantage of a series of tax benefits that are better than in other countries." An increase of ...
Wed, 23 Jul 2014 15:01:01 -0700

Portugal hopes new boss at BES marks fresh start for troubled bank
By Andrei Khalip LISBON (Reuters) - Portugal's troubled Espirito Santo clan was forced to sell a chunk of the bank it founded and accept independent managers on Monday after the lender's links to the family unsettled international markets. An audit of the family-owned holding companies behind Banco Espirito Santo found financial irregularities that raised the prospect of potentially ...
Mon, 14 Jul 2014 12:09:27 -0700

Portugal president warns Espirito Santo woes could hurt economy
Portugal's president warned on Monday that fallout from the financial troubles of the founding family of Banco Espirito Santo (BES) could affect the wider economy, while the bank said it was appointing a special financial advisor to help boost its capital structure. President Anibal Cavaco Silva is the first high-profile politician to warn of a possible economic impact from the Espirito Santo ...
Mon, 21 Jul 2014 12:11:47 -0700

Portugal Telecom loses chunk of Oi merger over unpaid Espirito Santo debt
Portugal Telecom (PT.LS) has been forced to take a cut in its share of the merger with Brazil's Grupo Oi (OIRB3.SA) after a holding company of the Espirito Santo family failed to repay more than $1 billion (583.26 million pounds) it owed to the telecom company. Portugal's largest telecoms provider said it would take legal action to try and recover the debt from the family company, Rioforte ...
Wed, 16 Jul 2014 07:52:03 -0700


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