• Thu
  • Dec 25, 2014
  • Updated: 10:05am


Portugal’s woes shine light on rest of euro zone periphery

Travellers look at the information board in a railway station effectively closed by strike action. Portuguese are rebelling against austerity imposed in return for a rescue package. Photo: Xinhua

Budgetary rigour demanded by international lenders may be the proximate cause of Portugal’s political crisis, but Lisbon is also paying the price for not whipping its economy into shape in better times.

Thursday, 4 July, 2013, 3:07pm

Portugal to slash 30,000 state jobs in austerity drive

Portuguese Prime Minister Pedro Passos Coelho announces new austerity measures. Photo: EPA

Portugal’s prime minister said on Saturday that the government aimed to slash 30,000 public sector jobs as part of a sweeping package of spending cuts to satisfy international creditors.

4 May 2013 - 4:15am

Berggruen and partners betting 1 billion euros on distressed Portuguese assets

Nicolas Berggruen and two Portuguese partners plan to spend as much as €1 billion (HK$10 billion) on real estate in Portugal

German-American billionaire Nicolas Berggruen and two Portuguese partners plan to spend as much as €1 billion (HK$10 billion) on real estate in the country, though they're not expecting to make a quick return.

17 Apr 2013 - 5:31am

Portugal prime minister announces heavy spending cuts

Portuguese Prime Minister Pedro Passos Coelho. Photo: AP

Portuguese Prime Minister Pedro Passos Coelho on Sunday announced severe cuts in public spending following a decision by the constitutional court rejecting a number of austerity provisions this year’s budget.

29 Aug 2013 - 4:13am

Golden chance to soak up sun

Luxury apartments in Algarve. Property investment in Portugal is not for the faint-hearted. Photo: Bloomberg

Hundreds of investors from China are clamouring for a golden opportunity to invest in Portuguese property. Following clarification of a new visa system, which automatically offers residency in return for a substantial investment in either a home or business, the so-called "Golden Visa" is keeping Portuguese legal firms busy.

20 Mar 2013 - 5:22am

Briefs, March 4, 2013

The prime minister was granted a 14-day extension. Photo: EPA

Passwords reset after Evernote cyber attack

CALIFORNIA - Evernote, a web-based note-sharing service, said it was resetting the passwords of its 50 million users after hackers breached its network, accessing usernames, e-mail addresses and encrypted passwords. The attack "follows a similar pattern" to other cyber attacks in recent weeks, it said. Reuters


4 Mar 2013 - 5:13am

Briefs, January 28, 2013

Floodwaters in East Bundaberg, Queensland. Photo: EPA

A UN Security Council delegation began a brief visit to Yemen in a clear boost to President Abdrabuh Mansur Hadi aimed at helping to iron out problems hampering national reconciliation talks. 

28 Jan 2013 - 5:43am

Soccer's transfer world is suffering from global crisis

Soccer's transfer world is suffering from global crisis

The global economic crisis is causing a major shift in the demographics of European soccer with cash-strapped Spain and Portugal witnessing an exodus of talent to rival leagues, a study has found.

26 Jan 2013 - 4:16am

Crisis-hit Portuguese town holds ’solidarity bazaar’

Unions protest government austerity measures in Lisbon on Saturday. Businesses are closing and unemployment is rising as a result of tough spending cutbacks imposed as part of a bailout of the Portuguese economy. Photo: AFP

Packets of pasta and lentils, cartons of milk and other staples pile up at the entrance to the cultural centre in the Portuguese town of Benavente.

The food has been donated for the “solidarity bazaar” and is destined to help some of those who’ve been hardest hit by the country’s gruelling financial crisis.

17 Dec 2012 - 3:47pm

Portugal's UN police leave East Timor

UN peacekeepers gather at Dili airport yesterday. Photo: EPA

Portugal withdrew most of its police officers from East Timor yesterday as international forces wind up a 13-year mission in Asia's youngest nation, where thousands have died in political bloodshed.

25 Nov 2012 - 3:12am

Portugal pulls bulk of police from East Timor

East Timor President Jose Ramos-Horta. Photo: AFP

Portugal withdrew the bulk of its police officers from East Timor on Saturday as international forces wind up a 13-year mission in Asia’s youngest nation, where thousands have died in political bloodshed.

24 Nov 2012 - 3:38pm

Angry anti-austerity protestors greet Merkel in Lisbon

Graffiti depicting Angela Merkel as a puppet master. Photo: AFP

Furious protests greeted German Chancellor Angela Merkel as she arrived in bailed-out Portugal yesterday to defend Lisbon's sweeping austerity cuts.

Anti-austerity protesters draped Lisbon's statues in black mourning sashes and a business newspaper blamed the visiting German chancellor for "Frankenstein" policies driving Portugal into poverty.

13 Nov 2012 - 2:56am

Talking Points

The United Nations launches drugs survey.

Legco plea for new rules on beauty treatments

31 Oct 2012 - 2:43am

Guinea-Bissau accuses Portugal, former PM of staging coup bid

Soldiers walk on a street in Bissau after gunmen raided a Guinea-Bissau army barracks in the capital, sparking a firefight that left at least seven people dead. Photo: AFP

Guinea-Bissau has accused Portugal, the Community of Portuguese Language Countries and a former prime minister of backing a coup bid after a gun battle that claimed at least seven lives.

23 Oct 2012 - 4:26am

Portugal unveils more harsh austerity in budget

Riot police guard the parliament building in Lisbon near a fire set by protesters against the austerity measures on Monday. Photo: AP

Portugal’s government is taking the bailed-out country deeper into austerity, announcing sharp tax increases next year that risk worsening a recession and stoking public discontent.

The draft budget for next year is one of the harshest in the country’s recent history and will take away the equivalent of a month’s wages from many workers.

29 Aug 2013 - 4:13am