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Portugal’s Largest Union Strikes Against Austerity Measures

Posted March 22nd, 2012 at 1:10 am (UTC-5)
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Portugal’s largest union has launched a 24-hour general strike against austerity measures. The temporary work stoppage by members of the General Confederation of Portuguese Workers is expected to impact public services, especially bus and rail transportation. Firefighters are staying on the job, but some of them also oppose government reforms that make it easier to […]

Tags: , , Posted in Economy, Europe

Portugal Sells Stake in Utility to China

Posted December 22nd, 2011 at 3:05 pm (UTC-5)
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Debt-ridden Portugal is selling the one-fifth stake it owns in its national utility to a Chinese energy company. The Lisbon government said Thursday that China Three Gorges is paying $3.5 billion for Portugal’s share in the national utility, Energias de Portugal. It is the first of a number of sales of public-owned assets the government […]

Tags: , , Posted in Economy

Portuguese Protest Strike Disrupts Rail Service, Flights Cancelled

Posted November 24th, 2011 at 6:40 am (UTC-5)
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Rail service was disrupted and dozen of flights cancelled in Portugal on Thursday as union workers staged a nationwide day-long strike to protest austerity measures adopted in return for an international bailout. The country’s two largest trade unions representing more than 1 million workers planned to hold more than 30 marches. The strike was also […]

Tags: , Posted in Economy, Europe

Portuguese Workers to Stage General Strike Thursday

Posted November 23rd, 2011 at 10:20 pm (UTC-5)
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Portuguese workers will stage a general strike Thursday to protest the government’s tough austerity measures imposed by the European Union. The country’s two largest trade unions representing more than 1 million workers plan to hold more than 30 marches. The strike is expected to disrupt transport and other public services, including schools and hospitals, throughout […]

Tags: , Posted in Europe

Angola Pledges Help to Portugal With Financial Crisis

Posted November 17th, 2011 at 2:50 pm (UTC-5)
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Angola’s President Jose Eduardo dos Santos says his country is ready to help former colonial power Portugal with its financial crisis. Mr. dos Santos spoke to reporters Thursday after meeting in the Angolan capital, Luanda, with Portuguese Prime Minister Pedro Passos Coelho. The Angolan economy has grown rapidly in recent years, boosted by oil exports, […]

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Portugal Arrests 2 for Trafficking Rhino Horns

Posted September 5th, 2011 at 11:55 am (UTC-5)
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Portuguese police have arrested two Australian nationals trying to smuggle rhino horns worth half a million dollars out of the country. Authorities said Monday the two men were detained at Portugal’s Lisbon airport after horns were found in their luggage. The father and son had been booked on a flight to Ireland. It was unclear […]

Tags: , Posted in Europe

Barroso Slams Portugal Credit Downgrade

Posted July 6th, 2011 at 11:35 am (UTC-5)
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European Commission President Jose Barroso says he deeply regrets Tuesday’s decision by Moody’s Investors Service to downgrade Portugal’s credit rating. Two months ago, Portugal received an aid package worth more than $100 billion, but Moody’s says it thinks Portugal will need a second bail out. Speaking in Strasbourg Wednesday, Barroso said Portugal has begun an […]

Tags: , Posted in Europe

Moody’s Cuts Portuguese Credit Rating to Junk Status

Posted July 5th, 2011 at 5:05 pm (UTC-5)
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Moody’s credit rating service has cut Portugal’s rating to junk status and says the outlook for the country is negative. This means that according to Moody’s, Portuguese government bonds are a high-risk investment. The agency says there are heightened concerns that Portugal may not be able to fully achieve the spending cuts, tax hikes and […]

Tags: , , Posted in Europe

Center-Right Leader Passos Coelho Named Portugal’s New PM

Posted June 16th, 2011 at 8:45 am (UTC-5)
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Portuguese President Anibal Cavaco Silva has named center-right leader Pedro Passos Coelho as the new prime minister of the financially troubled country. Mr. Coelho and his Social Democrat Party won this month’s parliamentary elections, knocking the Socialists out of power. The new prime minister says he will work quickly to form a new coalition government […]

Tags: , , Posted in Europe

Center-Right Leader Passos Coelho Named Portugal’s New PM

Posted June 15th, 2011 at 9:10 pm (UTC-5)
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Portuguese President Anibal Cavaco Silva has named center-right leader Passos Coelho as the new prime minister of the financially-troubled country. Mr. Coelho and his Social Democrat Party won this month’s parliamentary elections, knocking the Socialists out of power. The new prime minister says he will work quickly to form a new coalition government with the […]

Tags: , Posted in Europe
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