A country without economic drama waits for the President to piece together the fragments of politics
This time, it's not an economic crisis worrying the incoming President. It's the political trenches that delay consensus and reforms, and the uncertainties of an international order adrift.
EU and Mercosur sign agreement creating the world’s largest free-trade area
The agreement was finalised in Asunción, Paraguay, after 25 years of negotiations, in the presence of Ursula von der Leyen and António Costa.
EU–Mercosur agreement depends on ratification and could be reviewed by the Court of Justice
The European Commission and the European Council regard approval of the Mercosur deal as a historic moment, but the agreement is far from consensual. Divisions among member states persist, and the European Parliament, which will have to ratify the proposal, is still seeking majorities.
10:00: EU and Mercosur sign historic trade agreement today
The signing of the agreement opens the door to the world’s largest free-trade area, covering more than 700 million consumers. Negotiations began 25 years ago. There are still constraints in the health sector.
Lower tariffs and reduced bureaucracy benefit Portugal's small and medium-sized enterprises
The agreement with Mercosur may still face obstacles in the European Parliament's ratification process during 2026.
António Costa says criticisms in Europe are based on a 'totally mistaken perception' of the Mercosur agreement
Last week, the 27 member states of the European Union reached a qualified majority to approve the agreement.
EU–Mercosur: gains for wine and olive oil and risk of small farms going bankrupt
Beef, rice, sugar and honey will be the most penalised. Farmers fear 'unfair competition' and are calling for enforcement of the safeguard clauses.
Textile crisis
If there are no tariffs on imports through platforms, the European textile industry will disappear.
DORA: the new law that could change who pays the bill for digital fraud — banks or customers?
DORA (Digital Operational Resilience Act) is a new EU law that may shift responsibility and costs for digital fraud by imposing stricter security, reporting and liability requirements on banks and financial firms, potentially changing whether banks or customers bear the losses.
Late-payment interest rate the State pays to companies remains at 10.15%
The late-payment interest that the State and public bodies will pay to companies will not change, remaining at 10.15% in the first half of 2026, according to a notice published this Friday in the Diário da República by the new Treasury and Finance Entity, which absorbed the former Directorate-General for the Treasury and Finance. It reflects ...
Reports of scams involving easy credit and cryptocurrencies soar by 83% over five years
PRESS REVIEW || The most common schemes promise quick credit, no bureaucracy, or guaranteed approval
Centeno: 'There is still a lack of alignment among the major countries' in the race for the ECB
With the Eurogroup set to choose the ECB vice-president on Monday, former Portuguese central bank governor Mário Centeno—one of two front-runners—says there remains a lack of alignment among major EU countries. Speaking to PÚBLICO, Centeno urges reaffirmation of the reasons for his candidacy and signals that political negotiations, policy priorities and regulatory direction will be decisive in the appointment. The comments frame the contest as both a balance-of-power and policy-choice moment for the ECB’s future leadership.
IDEAS: VAT at 40
Opinion column marking the 40th anniversary of VAT, examining its history, its impact on the economy and society, and the challenges it faces going forward.
Russian oil price cap set at US$44.10 in February
From 1 February, the new maximum limit for the price of Russian crude oil is US$44.10 per barrel, the European Commission said in a press release issued this Thursday. The G7 Oil Price Cap Coalition (the seven largest economies in the world) established a mechanism to ...
If even the Bank of Portugal is vulnerable, what does that say about companies?
We learned in the last few hours that the Bank of Portugal will commission an external audit to assess its procurement system, notably technology-related procurement, which was the subject of two court cases last year. This is a clear warning: even central institutions, with multiple levels of control and constant scrutiny, are not immune to ...
10:00. Galp and Moeve: Government says it is monitoring the situation
It is an agreement that could lead the Sines refinery to join a joint venture. Also in this bulletin: the campaign for the presidential election and Donald Trump's threats to Iran.
Government watching Galp‑Moeve talks over strategic assets
Reporting says the Government is monitoring negotiations between Galp and Spain’s Moeve on a deal that would combine parts of their assets and create two new platforms, with ministers stressing strategic energy assets and national energy sovereignty are at stake. Officials are watching to ensure any transaction protects critical infrastructure and interests. Entrepreneurs and energy-sector observers should be aware that a deal could affect local supply chains, jobs and investment decisions in the coming months.
Galp is Portugal’s integrated energy company operating in fuel, natural gas, electricity retail, refining and upstream activities, and it supplies households and businesses across the country. For expats, issues at Galp—such as recent billing disruptions—can mean unexpected large utility bills or service problems, so check your account, contact the supplier and keep billing records.
Moeve is a Spanish energy company that, as of January 2026, has been in talks with Portugal's Galp about combining parts of their assets and creating two new business platforms; the Portuguese government says it is monitoring the negotiations because the transaction could involve strategic assets tied to national energy sovereignty. People watching energy supply, regulation or prices should note that large cross‑border asset reorganisations can change ownership, investment decisions and regulatory oversight.
Galp prepares to change, but the process will be lengthy and will put Brussels' new approach to the test
Galp and Moeve have entered detailed talks to combine their refining operations and filling-station networks, a complex transaction that is likely to be lengthy and closely scrutinised. The Portuguese Communist Party has already criticised the proposed deal and the government will have a role in the approval process, raising political as well as regulatory stakes. The transaction will test Brussels’ evolving approach to competition and regulation in the energy sector, with implications for pricing, investment and market structure in Portugal.
Companies are increasingly sensitive to competition issues
Companies are increasingly sensitive to competition issues as competition law enters a phase of expectation and apparent transformation, according to Sara M. Rodrigues, senior associate and co-ordinator of Eversheds Sutherland’s Competition, Trade and Foreign Investment Department. Rodrigues warns that investigations have ongoing consequences and that regulators — and firms — must recognise that processes do not end with the initial investigation conclusion, heightening the need for robust compliance, legal preparedness and attention to reform and enforcement trends.
New labour law 'is not a magic wand' for wage increases
Maria de Fátima Carioca argues that Portugal needs a substantial overhaul of its labour legislation, saying flexibilisation of labour relations is unavoidable but must not undermine social protections. She warns the proposed new law is not a magic wand for boosting wages — structural reform is required alongside measures to safeguard workers. Her remarks come as the Government prepares a wide-ranging review of labour rules and the social safety net.
Rents, mortgages and taxes — everything changing in housing in 2026
A wave of policy and market changes due to take effect in 2026 will raise the cost of housing for Portuguese households and alter incentives across the sector. Measures affecting rents, mortgage lending rules and tax treatment of construction and property are set to impact owners, tenants and prospective buyers, with knock-on effects for affordability, market dynamics and the state budget. The package will reframe public incentives and regulatory risk for investors and households alike, requiring households and professionals to reassess financing, renting and development decisions.
South Korea managed to prevent Lone Star from applying the strategy used at Novo Banco
Thirteen years after the US fund Lone Star used a strategy to monetise a state-backed bank stake in Portugal (Novo Banco) — reportedly pocketing about €5bn while exiting without major penalties — South Korea intervened to stop the same playbook from succeeding at a Korean bank backed by public support. The episode highlights divergent regulatory outcomes across jurisdictions: stronger Korean safeguards and political scrutiny protected the public interest and state budget, while Portuguese arrangements enabled a lucrative, low-accountability exit for a private investor. The contrast underscores how supervision, takeover rules and fiscal exposure shape investor returns and public risk in cross-border bank restructurings.
New Year — Luís Montenegro again calls for labour reform
Prime Minister Luís Montenegro uses his customary 1 January Jornal de Notícias article to renew a call for labour reform, urging a ‘winning mentality’ and changes to employment law and regulation. Framed as necessary for competitiveness and job creation, the piece signals his policy priorities and aims to steer public and political debate toward deregulation and legal adjustments. It functions both as a policy pitch and as political positioning ahead of upcoming labour‑market discussions.
