Tuesday, November 19, 2019
Novo Banco - Image Credit João Ramos
Yesterday, Haitong bought Novo Banco investment bank for last December's agreed value of 379 million Euros ($425 million). Last December's talk between Novo Banco and the Chinese brokerage Haitong Securities Ltd company closed with a possible future sale of the BES Investment Bank for 379 million Euros ($425 million). The sale has since then been approved by the Bank of...
Novo Banco - Image Credit João Ramos
The Banco de Portugal, the institution regulating the Novo Banco sale, was hoping for higher bids, but only got Apollo to raise their offer. According to Banco de Portugal, out of the three contenders, only the American Apollo company increased the bid for the “Novo Banco” buyout. The two other Chinese competitors, Fosun, and Anbang didn’t raise their bids. Novo...
Novo Banco sale postponed.
Negotiations have failed between Novo Banco and its buyers Apollo, Anbang, and Fosun. Rumors seem to indicate Banco de Portugal to re-enter negotiations with Apollo before the final decision to postpone the sale to 2016. The last standing bid offer from the Chinese Fosun company was 1.5 billion Euros ($1.7 billion) that was about half the required original offer amount...
Luis Caixado ViaNews interview
LISBON (ViaNews) - Right at the heart of the Web Summit we met with the co-founder of JustEnjoy, Luis Caixado. JustEnjoy is about delivering memorable moments for families during their holidays. They have a ready to use package with a specially selected group of toys and props to help the children engage with the city on their terms. It's delivered...
Miguel Carvalho - President of the Federation for Business Angels Network.
Miguel Henriques is the president of the Portuguese Federation for Business Angels' Network (FNABA). FNABA has 17 affiliate clubs, including the Lisbon's Business Angels Club which is now celebrating its third anniversary. We met with Miguel Henriques for an interview where he talked about entrepreneurship, the kind of investment business angels look for, and the participation of women in...
Rui Aaraújo - International Consortium of Investigative Journalists
The International Consortium of Investigative Journalists has denied consecutive requests made by several national authorities to reveal information contained in the "Panama Papers." One last example was the formal request of the Portuguese tax authority sent to the international consortium of investigative journalists. They asked information about the names of all the Portuguese citizens mentioned in the Panama Papers. As with...
Isabel Neves Interview - Lisbon Business Angels Club President
Isabel Neves is the president of the Lisbon Business Angels Club (LBAC) and one of the investors in Shark Tank Portugal. We met with her for an interview during the third anniversary of the LBAC, in which another round of startup pitches took place. It was a full house event where angel investors and startups got the chance to...
London Eye - How the OECD sees the UK leaving the EU.
April 27 - the OECD published a report analyzing the economic consequences of the United Kingdom exiting the European Union. According to the OECD Policy Paper, the outcome of the referendum to be held on 23 June "would be a major negative shock to the UK economy, with economic fallout in the rest of the OECD, particularly other European countries."...
Exploded Samsung note7.
Samsung has halted all Note7 production after new reports of replacement phones getting overheated and having battery problems. All major carriers in the US are now allowing customers to return their phones. After the Samsung's Note7 problems, the company is now turning into the new galaxy S8 with more cutting edge features. It all started in early September with reports of...
Invest HK Deputy Head of Fintech, Thorsten Terweiden, at Money Conf in Madrid.
Right at the heart of the Money Conf in Madrid we met with Mr. Thorsten Terweiden, the Deputy Head of Fintech for InvestHK. InvestHK is the Hong Kong Special Administrative Region Government department responsible for foreign direct investment. They have set up a dedicated Fintech team in Hong Kong with correspondents in London (Mr. Thorsten Terweiden) and San Francisco. ...
Euro - Image credits Mick Carvalho
This Friday the Eurogroup agreed to the third Greece rescue package of € 86 billion ($ 95.5 billion). The 3-year bailout first tranche of € 26 billion ($ 28.9) will be used to repay debt and recapitalize the banking system. According to the Greek Finance Minister Euclid Tsakalotosthe, a depositors money bail-in is out of the question. The Eurogroup president,...
Sergio Gonçalves interview - Lisbon Business Angels Club
The Lisbon Business Angels' Club hosted another edition where startups where able to pitch and showcase their projects to investors. According to Sergio Miguel Gonçalves, the former project manager for the Lisbon Business Angels' Club, "about 30% of the event attendees were investors and the event outcome was, once again, extremely positive". Miguel Salvado: We're here at the 3rd anniversary...

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