Daily Briefing -- Wednesday, 25 March 2026

Labour Reform Talks Enter Final Stretch

A critical meeting between the government, employer confederations, and the UGT trade union is scheduled for April 6 to take stock of eight months of labour reform negotiations. The UGT's National Secretariat will then meet on April 9 to decide whether to endorse the package. Both sides have agreed to maintain public silence on specifics until then. Lucinda Dâmaso, UGT president and PSD vice-president, has emerged as a key stabilising presence in the talks.

PSD Moves to Soften Chega's Gender Identity Bill

The PSD parliamentary group has signed a declaration of vote flagging "technical and conceptual" problems with Chega's gender identity project, which was approved in its general vote last week alongside PSD and CDS proposals. PSD wants to strip "outdated terminology" and "strong ideological content" from the Chega text during the detailed committee stage. Both parties agree on requiring medical validation for gender changes and banning the process for under-16s, but PSD objects to Chega's use of the term "disorder" rather than the WHO-aligned "incongruence."

Meo Warns Full Storm Recovery Could Take Until End of April

Nearly two months after storms Kristin and Sara devastated parts of central Portugal, Meo says its fixed-line network is 95.9 percent restored in affected areas but full recovery is not expected until April 30. Mobile service has been fully restored. The telecoms operator says many repairs require "complete reconstruction of network sections" rather than simple fixes. Affected customers will receive automatic bill credits.

Bank of Portugal Confirms Q1 Economic Decline From Storm Damage

Central bank governor Alvaro Santos Pereira confirmed that the January-February storms caused a first-quarter decline in economic activity, with damage surpassing the 2017 wildfire crisis. The storms could also raise credit risks in the banking sector. The Leiria region alone estimates 675 million euros in recovery investments are needed, with local officials warning that promised government funding has not yet materialised.

Trump's Iran "Deal" Tweet Triggers Market Chaos and Manipulation Suspicions

Suspicious trading activity was detected minutes before President Trump posted on Truth Social about "good and productive" negotiations with Iran on Monday morning -- a post Iran immediately denied. US stock futures swung nearly three percentage points upward while oil prices crashed 11 percent in minutes. The pattern mirrors similar suspicious pre-announcement trading during the tariff "pause" episode earlier this year, fuelling calls for SEC investigation.

State Can No Longer Demand Documents It Already Has

A new rule with immediate effect prevents Portuguese government agencies from requiring citizens and businesses to submit documents the state already holds in its own systems. The measure extends to entities managing EU funds and business support programmes, eliminating a longstanding bureaucratic frustration for residents and companies navigating Portuguese administration.

Leiria Region Calls for Urgent Storm Recovery Funding

The Leiria intermunicipal community (CIM) submitted a 675 million euro investment plan to the government's PTRR storm recovery programme. CIM president Jorge Vala told Lusa the region "urgently needs support that has not yet arrived," though the Economy Minister has pledged news on available funding by month's end. The PTRR programme aims to make storm-affected regions more resilient to future climate events.