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Sales of Portuguese Corticeira Amorim reach EUR 1 billion in 2022. The subholding company belonging to the Amorim Group registered profits of EUR 98.4 million in 2022, increasing by 31.6% compared to the previous year, that is partly due to a favorable decision for a tax contingency amounting to EUR 11.4 million. Corticeira Amorim is a Portuguese subholding company belonging to the Amorim Group, a global leader in the cork industry. Amorim's holding company is listed on the Euronext Lisbon stock exchange. #CorticeiraAmorimsales2022 #CorticeiraAmorim #AmorimGroup #corksalesportugal #portugalnews #portugalbusinessnews

B2B cross border e-commerce payments in Portugal are expected to reach USD 40 billion by 2024 with the use of online marketplaces. According to Juniper Research, B2B cross border payments will grow by 9%, that is by USD 3 billion, between 2022 and 2024. With the increasing use of online e-commerce marketplaces in Portugal, international B2B payments are growing fast. #ecommerceportugal #onlinemarketplacesportugal #B2Bpayments #JuniperResearch #B2Bcrossborderpayments #portugalnews #portugalbusinessnews

Portugal’s electricity network REN is using Augmented Reality for increasing safety for workers in substations. Since workers are at risk of being exposed to electrical hazards due to very high-voltage, Portugal’s electricity network is now using augmented reality for overlaying virtual images to reality in real-time in order to decrease the risk of accidents. Images produced to augment reality allow teams that work on the electrical system to check the virtual images produced on their tablets, smartphones or computers. Workers may also be monitored in real time and the warning system produces a vibration when there is an elevated risk. #augmentedrealityelectricitynetworkportugal #augmentedreality #REN #augmentedrealityworkersafety #digitalnewsportugal #portugalnews #portugalbusinessnews #technewsportugal

Portugal and Spain will invest EUR 500 million in nuclear fusion with the aim of including this source of energy in the electricity grid within 10 years. Researchers from CIU3A and the universities of Seville, Évora and the Algarve will invest in the development of a small reactor to produce nuclear fusion according to elEconomista. The Tokamak Fusion Grid will produce large quantities of clean energy through a source that will be infinite. The project will be innovative since it will develop a compact nuclear reactor that will be capable of producing the same amount of energy as larger ones. Moreover, the reactor will be produced at a lower cost and will be more efficient, ensuring a sustainable source of energy. #nuclearfusionportugal #nuclearelectricity #CIU3A #universityofSeville #universityofÉvora #universityofAlgarve #elEconomista #TokamakFusionGrid #compactnuclearreactor #renewableenergyportugal #nuclearenergyportugal #portugalnews #portugalbusinessnews

Portuguese company Finerge is building 15 wind and solar farms, out of which 4 will be hybrid. The project, that has a capacity of 335 MW, will be completed in 2023 according to Negócios. With these new projects, Finerge will be able to increase installed capacity that is 1,592 MW currently. It is to be noted that Finerge recently had a refinancing operation for an amount of EUR 2.3 billion. Finerge operates 70 wind farms as well as 17 solar parks that are located in Portugal and Spain. The company is held by infrastructure funds managed by Igneo Infrastructure Partners, that is a global asset management company with a portfolio of over EUR 150 billion and investors that include financial institutions, pension funds and insurance companies. #Finerge #windandsolarfarmsportugal #IgneoInfrastructurePartners #renewableenergyportugal #portugalnews #portugalbusinessnews

Portugal invests EUR 150 M in a tech network of test beds under the Recovery and Resilience Plan (PRR). The network of test beds, that will conduct testing for new technologies, includes 30 innovation consortiums. This tech platform will provide support to startups and SMEs for developing new products and services. The test beds are expected to provide support to 2,415 pilot projects for innovative startups. This new approach will allow tech companies to test their products and services in both physical and virtual spaces. The initiative will be headed by Portugal’s digital entity EMPD with the collaboration of IAPMEI, ANI, Compete, DGAE and Startup Portugal. #testbedsportugal #techsectorportugal #startupsportugal #EMPD #IAPMEI #ANI #Compete #DGAE #StartupPortugal #portugalnews #portugalbusinessnews

Amazon will use 6 Portuguese influencers as ambassadors for 2023. The digital influencers who will represent the Amazon brand in Portugal are Alice Trewinnard, Helena Coelho, Luís Borges, Luana Santos, Madalena Abecasis and RicFazeres according to Dinheiro Vivo. The influencers will campaign for Amazon on social media in order to increase visibility in Portugal. Since Amazon’s Spanish platform, that includes Amazon Prime, is now available in Portuguese, the company intends to strengthen its presence in Portugal. #Amazoninfluencers #Amazonportugueseinfluencers #influencermarketing #digitalmarketing #portugueseinfluencers #AliceTrewinnard #HelenaCoelho #LuísBorges #LuanaSantos #MadalenaAbecasis #RicFazeres #socialmediaportugal #portugalnews #portugalbusinessnews #Amazon #amazonprime

Stellantis Portuguese CEO Carlos Tavares has announced that they will distribute € 2 billion worldwide to employees to reward performance. “Thanks to Stellantis’ record performance results achieved in 2022, we will be distributing more than € 2 billion in profit-sharing and variable bonus to Stellantis employees across the world,” said Stellantis CEO Carlos Tavares. “It’s € 200 million more than last year and it is a fair recognition of the contribution of all Stellantis employees to make Stellantis win in a very demanding economic context.” In Portugal the distribution network of the Stellantis Group is Stellantis & You Portugal. #stellantisrewardemployees #stellantisandyouportugal #stellantis #automotivesectorportugal #portugalnews #portugalbusinessnews

Fitch Ratings has announced that Portuguese banks will be able to absorb the rise in impaired loans in 2023. The likely increase in impaired loans is due to the economic slowdown, high inflation and rising interest rates. The ratings agency expects the sector’s impaired loans ratio to increase only modestly, partly due to tighter underwriting guidelines introduced in 2018. The sector’s impaired loans ratio was about 3.4% end of June 2022, according to Banco de Portugal, compared to a peak of about 18% end of June 2016. Portugal's Central Bank 2018 macroprudential recommendations led to the near elimination of new residential mortgage lending with LTV ratios above 90%. #FitchRatingsPortuguesebanks #fitchratingsportugal2023 #portugaleconomy2023 #portugalnews #portugalbusinessnews

Volkswagen announces training for e-mobility by 2025. The training will be held at their Wolfsburg plant in Germany, that is the headquarters of the Volkswagen Group and is one of the largest manufacturing plants in the world. According to TopElectricSUV, the next-gen VW T-Roc, that is produced by Autoeuropa in Portugal, will come with plug-in hybrid tech in 2024. The T-Roc is Volkswagen Group's best-selling model and Europe's number 3 model in 2022. #Volkswagenemobility2025 #VolkswagenTRocEV #TopElectricSUV #VWTRoc #Autoeuropa #VWpluginhybridtech #EVportugal #portugalnews #portugalbusinessnews

Portugal’s exports of goods and services reach nearly EUR 120 billion for 2022. This new record high figure represents a 33.9% growth compared to 2021 according to Portugal’s Central Bank, Banco de Portugal. The Travel and Tourism sector grew by 109.7% compared to 2021, reaching over EUR 11 billion. Spain was the main export market with a share of 20.6% of exports, followed by France with 12.4% and Germany with 10.8%. Outside the EU, the main export market is the UK with 9%, followed by the US with 7% of total exports. #portugaltotalexports2022 #portugalexportsgoodsandservices2022 #tourismfiguresportugal2022 #BancodePortugal #portugalnews #portugalbusinessnews

Green Hydrogen exports from Spain will be starting in 2027 with Spanish oil company CEPSA using the Green Hydrogen maritime corridor to export to the Netherlands. CEPSA is investing EUR 3 billion to produce 2 GW of green hydrogen in Andalusia. CEPSA signed an MOU with ACE Terminal to supply green ammonia to the port of Rotterdam. According to El Economista, the goal is to convert ammonia into green hydrogen for industrial use in north-west Europe or as renewable fuel for the maritime sector. The ACE Terminal is being built in the port of Rotterdam, that is a strategic location giving direct access from the North Sea pipeline to north-west Europe. The terminal will be used to import hydrogen and also to convert ammonia into green hydrogen. #greenhydrogencorridoroperational2027 #greenhydrogenexportsspain #CEPSA #ACETerminal #greenammonia #ElEconomista #portugalnews #portugalbusinessnews