Portugal approves 33% windfall tax on oil profits
Portugal’s government has approved a temporary 33% levy on excess profits from oil extraction and refining in 2026, targeting revenue for households, businesses and decarbonisation.
Nobel-winning economist urges Portugal to reform courts
James Robinson told ECO Portugal needs more ambition and faster reforms, arguing quicker court decisions could unlock growth and restore confidence in state institutions.
Estonia considers buying drones from Portugal’s Tekever
Estonia is considering buying drones from Portuguese company Tekever through a public procurement process, a potential export boost for Portugal’s defence industry.
Allianz Portugal agrees to buy insurer Caravela
Allianz Portugal has agreed to acquire Caravela, a deal that would lift its market share and push annual written premiums above €1 billion in Portugal.
Jerónimo Martins H1 profit falls as sales rise 5.1%
Portugal’s Jerónimo Martins posted a 3.4% drop in first-half profit despite higher sales, highlighting pressure on food retail margins in its main markets.
Sonae posts record €5.6 billion first-half revenue
Portuguese group Sonae reported record first-half revenue of €5.6 billion and a 20.5% rise in net profit, driven mainly by food retail and growth across its portfolio.
BCP posts €565.5 million first-half profit
Portugal’s largest private bank reported a 12.7% rise in first-half profit, extending the momentum after its record 2025 result.
Air France-KLM, Lufthansa file binding bids for TAP
Air France-KLM and Lufthansa have submitted binding offers for 44.5% of TAP, advancing Portugal’s airline privatisation and setting up a key government choice by September.
Vodafone picks Lisbon for global cyber hub
Vodafone will open a global cybersecurity centre in Lisbon, adding a new tech investment in Portugal and initially creating about 40 jobs.
EDP Renewables nearly doubles first-half profit
EDP Renewables reported first-half net profit of €184 million, almost double a year earlier, as operational performance and asset rotation gains lifted earnings.
Lufthansa and Air France-KLM face off in TAP sale
Binding bids for 49.9% of TAP are due on Wednesday, setting up a final contest between Lufthansa and Air France-KLM for Portugal’s flag carrier.
Meo and Thales seek role in EU IRIS2 satellite network
Portugal’s Meo and Thales plan a joint bid to support the EU’s IRIS2 satellite constellation, a project aimed at secure European connectivity.
EDP Renováveis sells US solar and battery stake
EDP Renováveis has agreed to sell 80% of a US solar and battery portfolio, highlighting the importance of the American market to the Portuguese group’s investment plan.
TAP stake on sale valued near €1 billion
An evaluation prepared for ECO values TAP at about five times its 2015 privatisation level, as binding bids from Air France-KLM and Lufthansa are due this week.
Mutares seeks Efacec compensation from Portuguese state
Mutares has asked Portugal’s state holding Parpública to cover Efacec liabilities under the sale contract, but part of the claimed amounts remains disputed.
Galp first-half profit jumps 44%, plans higher dividend
Galp’s first-half profit rose to €812 million as higher oil prices lifted earnings, prompting the Portuguese energy group to plan a 10% increase in its annual dividend.
ANA unveils Lisbon airport project with €7.9bn-€8.9bn cost
ANA has presented the technical design for Lisbon’s new airport, with an estimated cost of €7.9 billion to €8.9 billion, advancing one of western Europe’s biggest infrastructure projects.
European space spending rose 12% on defence push
Europe increased public space spending by 12% to €13.5 billion last year, bucking the global trend as defence budgets gained weight in the sector.
VW cuts raise fears for Portugal auto suppliers
Portugal’s auto parts industry says Volkswagen’s planned production cuts could hit local suppliers, adding to expectations of another year of falling sales and job losses.
Portugal prepares NATO satellite surveillance entry
Portugal is preparing to join NATO’s APSS satellite surveillance initiative using its national Atlantic Constellation assets, linking its space programme to allied defence missions.
Mota-Engil wins €185 million in new Mexico contracts
Portugal’s Mota-Engil has secured two transport infrastructure contracts in Mexico worth about €185 million, expanding its order book in a key overseas market.
Portugal tightens rental rules and eases rent controls
Portugal’s government approved tougher tenant default rules and brought forward the end of rent controls on new leases, in a move aimed at boosting confidence and rental supply.
Algarve tourism slows as overnight stays edge down
Portugal’s top tourism region saw overnight stays fall 0.2% in 2025, even as revenue rose, highlighting a shift toward value growth and exposure to seasonality.
Portugal becomes EU’s ninth most populous country
Portugal has moved up to ninth place in the EU by population after a revision to resident estimates, as the bloc’s population rose for a fifth straight year.