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Business news, startups, investments, and corporate developments in Portugal.

Portugal's National Data Center Plan Aims for 1 GW by 2030, Betting on Renewables and Submarine Cables to Lure Big Tech

Portugal's National Data Center Plan Aims for 1 GW by 2030, Betting on Renewables and Submarine Cables to Lure Big Tech

Portugal's government has approved a National Data Center Plan that sets out to transform the country into a European hub for digital infrastructure, targeting roughly 1 gigawatt of installed capacity by 2030 — nearly six times the current 170 MW....

Two Months After Storm Kristin, Portugal's Telecoms Recovery Exposes a Fragile Fixed-Line Network

Two Months After Storm Kristin, Portugal's Telecoms Recovery Exposes a Fragile Fixed-Line Network

Nearly two months after Storm Kristin tore through central Portugal, the country's three major telecommunications operators have delivered a sobering status report: while mobile networks are back to normal, restoring fixed-line services —...

Portugal's 2026 Budget Assumptions Are Already Obsolete, ECB Data Shows, as Twin Crises Push the Country Toward Deficit

Portugal's 2026 Budget Assumptions Are Already Obsolete, ECB Data Shows, as Twin Crises Push the Country Toward Deficit

Oil price assumptions in the 2026 state budget are off by more than 24 percent according to ECB projections, while Euribor forecasts have also shifted upward. Combined with storm reconstruction costs, economists now expect growth well below government targets.

Bank of Portugal Confirms First-Quarter Economic Decline and Warns Storm Damage Surpasses the 2017 Wildfires

Bank of Portugal Confirms First-Quarter Economic Decline and Warns Storm Damage Surpasses the 2017 Wildfires

Governor Alvaro Santos Pereira revealed that economic activity contracted in Q1 2026 after Storm Kristin devastated central Portugal, with the 68 municipalities under a state of calamity accounting for nearly a fifth of all business and mortgage credit in the country.

Portugal's Tax Authority Confirms Non-Residents Cannot Claim Capital Gains Reinvestment Exemption When Selling Property

Portugal's Tax Authority Confirms Non-Residents Cannot Claim Capital Gains Reinvestment Exemption When Selling Property

If you are a Portuguese citizen living abroad or a foreign national who owns property in Portugal but is no longer tax resident there, a recent ruling from the Autoridade Tributaria (AT) has made one thing unmistakably clear: you cannot claim the...

Markets, Business & Tech Briefing -- Tuesday, 24 March 2026

Markets, Business & Tech Briefing -- Tuesday, 24 March 2026

EUR/USD at 1.159 as Euro Holds Strong The euro is trading at approximately 1.159 against the US dollar as of this morning, maintaining strength amid continued European Central Bank rate stability. The ECB has held its main refinancing rate steady,...