Portugal

Portugal's Millennium bcp seeks debt-equity swap to boost solvency

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LISBON - Portugal's largest listed bank, Millennium bcp , plans to exchange junior debt for new shares worth up to 428 million euros ($462 million) to increase its solvency ratio by 70 basis points, helping to put it in line with European benchmarks.

Bank of Portugal picks five Novo Banco bidders, sets end-June deadline 17 Apr 2015

LISBON, April 17 - The Bank of Portugal has picked five out of seven financial institutions that had made non-binding bids for Novo Banco, the successor to Banco Espirito Santo after a state rescue last year, and will accept binding offers until the end of June.

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Portugal's exports seen hitting new record despite Angola slump 13 Apr 2015

LISBON - Portugal's exports should pick up steam and hit a new record this year despite a steep fall in sales to Angola, which is likely to be short-lived, the head of the state agency for promotion of exports and investment (AICEP) said.

Minister sees Portugal jobless rate resuming fall soon 08 Apr 2015

LISBON - Despite a recent jump in joblessness that has cast a shadow over Portugal's economic recovery, the government still expects the unemployment rate to fall this year, possibly even beating its projection of 13.4 percent, the economy minister said.

EU mulls probe into 'deferred tax assets' of southern Europe's banks - FT 06 Apr 2015

- The European Commission is considering an investigation into whether Greece, Italy, Portugal and Spain have illegally underwritten banks which have accumulated assets considered low-quality in the rest of the euro zone, the Financial Times reported.

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Portugal applies to join China-backed AIIB investment bank 02 Apr 2015

LISBON/SHANGHAI - Portugal has applied to be a founding member of the Chinese-led Asian Infrastructure Investment Bank (AIIB), with the aim of promoting its business interests in Asia, the government said on Thursday.

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S&P raises Portugal outlook, leaves rating lowest among Big 3 20 Mar 2015

LISBON - Ratings agency Standard & Poor's upgraded Portugal's credit outlook to positive from stable on Friday, citing better growth prospects, but left its rating two notches below investment grade at the lowest level among the leading raters.

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Portugal says it has paid back 22 percent of IMF bailout loans 20 Mar 2015

LISBON - Portugal has started repaying its bailout loans from the IMF, reimbursing 6.6 billion euros (4.7 billion pound), or 22 percent of the total owed, in the past week thanks to record-low bond yields, the state debt agency IGCP said on Thursday.

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Portugal says it has paid back 22 pct of IMF bailout loans 19 Mar 2015

LISBON - Portugal has started repaying its bailout loans from the IMF, reimbursing 6.6 billion euros (4.7 billion pound), or 22 percent of the total owed, in the past week thanks to record-low bond yields, the state debt agency IGCP said on Thursday.

Portugal tax chief resigns over alleged VIP taxpayers 18 Mar 2015

LISBON - The head of Portugal's tax revenue service resigned on Wednesday following allegations that authorities tried to shield the files of influential figures, including the prime minister, from scrutiny by tax inspectors.

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Finns vote, likely to pick opposition to revive economy

HELSINKI - Voters are tipped to oust Finland's pro-European and pro-NATO prime minister in Sunday's election and put in power an opposition coalition that may include Eurosceptic nationalists, hoping it will revive the sagging economy.