Portugal celebrated the Restoration of Independence Day on December 1st, marking the 384th anniversary of the action taken by Portuguese nobles in 1640 to end Spanish rule. This national holiday commemorates a significant moment in Portuguese history and remains an important date for the nation.
A 43-year-old male driver has been arrested by PSP in Leiria after an apparent hit-and-run attempt where a PSP agent was almost run over. The driver is accused with an alcohol level of 2.90 g/l, almost six times above the legal limit of 0.49 g/l.
In economic news, consumer confidence in Portugal has reached its highest level in recent times. Confidence indicators have increased in services and slightly in trade, while moderately decreasing in manufacturing, construction, and public works. This uptick in consumer sentiment could potentially boost economic activity in the coming months.
Portuguese banks are expected to achieve record profits in 2024, potentially reaching 5 billion euros for the main banks combined. This contradicts earlier predictions that 2023 was an exceptional year for bank profits. Despite expectations of lower profitability due to falling interest rates and economic uncertainties, the banking sector in Portugal and Europe is set to surpass 2023’s profits. As of September 2024, the five largest banks operating in Portugal (Caixa Geral de Depósitos, BCP, Novo Banco, BPI, and Santander Totta) had already reported aggregate profits of 3.9 billion euros, a 19% increase compared to the same period in 2023.
In the retail sector, a new Mercadona supermarket in Barreiro (Setúbal District), is set to open on December 12, 2024. The supermarket chain, originally from Spain, has been expanding rapidly in Portugal since its first store opened in 2019.
Energy consumption in Portugal showed a decrease of 1.8% in November compared to the same month in 2023. This reduction in electricity usage could be attributed to various factors, including energy efficiency measures or changes in industrial activity.
In international relations, Portugal, along with Greece and Denmark, has announced plans for “systematic support” for the Palestinian Authority (PA). This proposal aims to reinforce the institutional capacity of the PA and launch reforms that could potentially lead to the establishment of a Palestinian state in the future. The Portuguese Foreign Affairs Minister, Paulo Rangel, stated that this support is specifically directed towards the new PA led by Prime Minister Mohammad Mustafa. (It’s important to note that while Mustafa holds the position of Prime Minister, his power is limited compared to that of President Mahmoud Abbas. Abbas simultaneously serves as the leader of the PA, the Palestine Liberation Organization (PLO), and the Fatah party, which has the greatest representation in the PA. Mustafa, who was previously a longtime economic advisor to Abbas, took on this role in March 2024 as part of efforts to implement reforms and improve governance in the Palestinian territories.) Rangel noted that this administration has demonstrated reasonableness and a constructive spirit. The proposed program focuses on institutional capacity building for the PA, enabling it to implement the reforms presented by Prime Minister Mustafa. This approach reflects Portugal’s commitment to a two-state solution in the Israeli-Palestinian conflict. It’s important to note that while Portugal is taking steps to support Palestine, it is not currently planning to unilaterally recognize Palestine as a state. Instead, the country is pursuing a diplomatic approach, seeking broad consensus among EU members and working towards a multilateral solution.
In cultural news, Tiago Mogadouro has been appointed as the General Manager of Madame Tussauds in New York. Previously, he held the position of Head of Marketing at the museum, where he played a key role in launching campaigns for over 30 celebrity figures, including Cristiano Ronaldo and Beyoncé. His marketing strategies significantly revitalized the museum, including projects like the Glow Gala and Icons of Horror, which involved substantial investments. Mogadouro’s notable achievement includes the campaign for Cristiano Ronaldo’s figure which became the most successful launch in the history of Madame Tussauds. His career began at Walt Disney World in 2008, and after various marketing roles in Portugal, he joined Merlin Entertainments in 2016, eventually moving to New York in 2020 to lead marketing efforts at Madame Tussauds.
Regarding the weather, a cold wave will hit mainland Portugal in the coming days with temperatures expected to drop. The cold weather is a result of Storm ‘Darragh’, which is hitting the United Kingdom and Ireland this weekend. Along with the cold, there’s a possibility of snowfall in Portugal on Thursday. The low temperatures are expected to last at least until December 15. Wednesday will be the coldest day, with minimum temperatures of 6°C in Lisbon and 4°C degrees in Porto and Coimbra.
