Portuguese exports to the four Mercosur countries amount to just 1.3% of the country’s total, with Brazil alone representing 95% of that small share. With a market of nearly 300 million people, Portuguese business leaders view the bloc as largely unexplored terrain offering significant scope for export diversification, new investments and deeper trade ties — particularly beyond Brazil — but realising this opportunity will require targeted commercial strategies and stronger economic engagement across Mercosur members.

TAP will invest €20 million to build a new maintenance hangar in Porto, a project the carrier says will take about two years and create nearly 200 jobs. The hub is intended to increase TAP's in-house maintenance capacity, reduce reliance on external providers and support new or strengthened routes (reports name Terceira, Praia, Tel Aviv and Boston). Porto residents and jobseekers should watch for recruitment and planning notices; passengers may see improved maintenance resilience and potential route growth over the next two years.

Compete will open five funding calls in January for large companies, accounting for roughly one third of the programme’s corporate allocation under Portugal 2030, the agency’s president told ECO dos Fundos. The calls come with strengthened support rates aimed at accelerating project implementation and unlocking private investment. For large firms, the tranche presents a concentrated opportunity to secure EU-backed grants that could expedite capital expenditure, support job-creating projects and align corporate investment with Portugal 2030 priorities. The measure also signals an administrative push to deploy funds faster, with potential sectoral and regional impacts depending on application uptake and award conditions.

Compete will launch a clean-up operation to revoke PT2030 support for projects that were approved but have not started implementation within three months. The review aims to free up EU funding tied to non-executed projects; affected business owners should expect revocation letters beginning in February. The move signals a stricter enforcement of grant timelines and should prompt beneficiaries either to commence work promptly or risk losing allocated support, allowing funds to be reallocated to active projects.

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.

Julien Jarjoura, an investor based in Switzerland, has acquired Claire’s European business, preserving roughly 200 jobs in Portugal and maintaining the brand’s retail footprint across Europe. The purchase effectively separates the continental operation from insolvency proceedings affecting Claire’s in the United States, the United Kingdom and Ireland, stabilising local employment and stores while broader group restructuring and creditor processes continue.

Despite public reticence from Virgílio Lima, the Mutualist Association has reportedly decided not to reappoint Pedro Leitão as CEO of Banco Montepio after his mandate expired at the end of last year. The bank is said to have settled on José Azevedo Pereira — a former director — as the successor. The move signals a leadership change at Banco Montepio that will shape its strategic direction and investor and member relations going forward.

After Portugal’s Tekever became a unicorn, 2026 looks set to remain a liquid year for investors despite geopolitical uncertainties that are reshaping financial markets. Venture capital will continue to favour AI startups, but a growing emphasis on dual‑use and defence‑adjacent technologies means investors will weigh strong commercial upside against ethical, regulatory and geopolitical risks. The year will therefore be defined by opportunities for tech and defence crossover, active deal‑making, and increased scrutiny from policymakers and funds alike.