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Portugal Weighs IMF Payback as It’s Not Ireland Yet: Euro Credit
Maria Luis Albuquerque, Portugal's Finance Minister, said on Sept. 9 that Portugal has every interest in assessing the conditions in which there will also be an advantage in making an early repayment to the IMF.
Fri, 19 Sep 2014 02:53:44 -0700

Portugal Weighs IMF Loan Payback as It’s Not Ireland Yet
Ireland's decision this month to make early repayments of its International Monetary Fund rescue loans has led some investors and strategists to see if Portugal may do the same. An early repayment has "an advantage in terms of communication to the market of a return to normalcy," said Diogo Teixeira, chief executive officer of Optimize Investment Partners, a Lisbon-based firm that manages 95 ...
Fri, 19 Sep 2014 03:20:17 -0700

Bank of Portugal picks new CEO for BES successor Novo Banco
By Andrei Khalip LISBON (Reuters) - The Bank of Portugal on Sunday picked a new chief executive for Novo Banco, successor to Banco Espirito Santo (BES), following the embarrassing resignation of its three top managers appointed only two months ago. Eduardo Stock da Cunha, 51, an experienced international banker who has worked at lenders like Santander and Lloyds in Britain, Portugal, Spain and ...
Sun, 14 Sep 2014 10:44:47 -0700

Portugal bank slated for sale gets new management
LISBON, Portugal (AP) — The Bank of Portugal has appointed a new senior management team to run Novo Banco, a bank which the government wants to sell and recoup the 3.9 billion euros ($5 billion) taxpayers provided to resolve Portugal's biggest financial scandal.
Sun, 14 Sep 2014 10:13:32 -0700

Soccer-Albania pile the misery on sorry Portugal
* Ronaldo-less Portugal stunned at home * Balaj nets superb second-half winner for Albania * Bento left clinging to his job (Adds quotes) LISBON, Sept 7 (Reuters) - Albania handed demoralised Portugal one of their most embarrassing international defeats when a spectacular volley by Bekim Balaj gave the rank outsiders a 1-0 away win in their opening Euro 2016 qualifier on Sunday. The defeat ...
Sun, 07 Sep 2014 14:35:59 -0700

Portugal Telecom, Oi shareholders approve new merger terms
Shareholders of Portugal Telecom and Brazil's Oi on Monday approved the revised terms of a merger after a failed debt investment forced the Portuguese company to accept less favorable terms in the tie-up. At a meeting of Portugal Telecom (PT) shareholders, some 98.25 percent voted in favor of approving the new terms of the deal, according to a company spokeswoman. Shares of Portugal Telecom ...
Mon, 08 Sep 2014 16:21:27 -0700

Portugal avoids recession with second-quarter growth
Portugal, which exited a multi-billion euro bailout scheme in May, returned to growth in the second quarter, avoiding recession in spite of a banking crisis. Portugal's gross domestic product grew by 0.3 percent in between April and July, the National Institute of Statistics (INE) said on Monday. The rebound "is mainly down to the progression of exports of goods and services," the INE said in a ...
Mon, 08 Sep 2014 08:25:41 -0700

Portugal confident on targets, considers following Irish move on loans
Portugal is confident it will meet its fiscal targets for the year and may in future decide to follow Ireland's move to repay its International Monetary Fund loans early, Prime Minister Pedro Passos Coelho said on Tuesday. Portugal, which completed its EU/IMF bailout programme in May but was forced to bail out its biggest listed bank last month, will stay on a course of reforms, Coelho said ...
Tue, 09 Sep 2014 05:55:11 -0700

Portugal coach Bento pays the price of failure
(Reuters) - Portugal coach Paulo Bento lost his job on Thursday after a calamitous start to the Euro 2016 qualifying campaign following a dismal World Cup. The Portuguese Football Federation confirmed his departure, which had looked inevitable after the shock 1-0 home defeat by rank outsiders Albania on Sunday, in a statement and said the decision had been mutual. Portugal fans booed the team ...
Thu, 11 Sep 2014 23:59:24 -0700

Portugal coach Bento leaves after poor results
Portugal coach Paulo Bento has quit because of poor results, including a 1-0 shock defeat against Albania. Bento's departure was by mutual agreement, and his replacement would be announced soon, the Portuguese Football Federation said in a statement on Thursday without elaborating. Bento took charge four years ago and steered Portugal to the 2012 European Championship semifinals. They exited in ...
Thu, 11 Sep 2014 09:55:29 -0700

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