AGP Executive Report

West Bank Trade Sanctions: The UK announced a ban on imports of goods from Israeli settlements in the occupied West Bank and will also restrict services tied to settlement expansion (financing, construction, infrastructure, real estate and advertising). EU/Partner Coalition: Canada, France and 9 other European countries—including Portugal and Spain—confirmed they will introduce national restrictions or support EU-level measures, citing settler violence and settlement expansion as undermining the two-state solution. Israel Retaliation: Israel said it will close the British consulate in Jerusalem and take countermeasures, including expelling UK representatives from a Gaza monitoring centre and ending UK training for Palestinian Authority security forces. Portugal Tech & Industry: RASTECH Europe opened in Porto (Sept 8-9), highlighting how European aquaculture can scale recirculating systems via existing producers. Connectivity Update: Portugal’s broadband market hit 4.9m connections, with 1Gbps lines up sharply year-on-year.

TAP Privatisation Talks: Portugal is pushing for better bids in the sale of TAP, holding an additional round of negotiations with Lufthansa and Air France-KLM for a minority stake after Parpública assessed the first offers; the government wants improved proposals before picking a preferred partner for final talks. Energy Security: Portugal’s regulator ACER says the country faces electricity adequacy risks from 2028 to 2035, with projected reliability shortfalls rising sharply by 2035 as demand growth outpaces needed resources. EU Housing Pressure: The European Commission is preparing an Affordable Housing Act to curb short-term rentals in housing-stressed areas, giving local authorities power to restrict Airbnb-style lets where shortages are severe. Aviation & Travel Tech: IATA urges the EU to extend temporary flexibility for the Entry/Exit System (EES) biometric rules, warning that removing safeguards could worsen border congestion. Business & Finance (Macau): Macau reaffirmed a push to lift non-gaming sectors to about 60% of GDP by 2030 and set tourism/investment targets under its Third Five-Year Plan. Portugal in the Spotlight (Global): A Portuguese report says former F1 boss Bernie Ecclestone was detained at a Lisbon-area airport after a shotgun was found without the required documentation.

Portugal Golden Visa & citizenship: Portugal’s revised nationality law took effect May 19, 2026, extending the standard naturalisation period for most applicants from 5 to 10 years, and changing how residence time is counted (from when the residence card is received). Payments & banking infrastructure: Viva.com, Europe’s “tech bank” for businesses, has added direct connectivity to Portugal’s Multibanco network, enabling MB card and MB WAY acceptance across Europe and in-store/online via its omnichannel platform. Aviation & trade: Portugal’s Air travel and aviation ecosystem stays in focus as the week’s coverage includes TAP-related developments (government talks with Air France-KLM and Lufthansa) and broader industry pressure on maintenance and parts supply. EU border rules: From Sept 7, the EU Entry/Exit System flexibility that temporarily eased biometric steps is ending, raising the risk of longer queues for travellers. Business finance (Portugal-linked): Banco BPI is set to sell its 33.35% stake in Banco de Fomento Angola to Angolan investor Nelson Carrinho for $452m, marking a potential end to a 30-year Portuguese presence in the lender. Sustainability policy: France dropped plans for mandatory plastic bottle deposits, opting for voluntary local schemes instead.

Housing Affordability: A new European study says over 70% of people live where income can’t buy a 75 m² home without dedicating a third of earnings to a 30-year mortgage, with big-city hotspots including Madrid. EU Housing Rules: Brussels is preparing tougher limits on short-term rentals and second homes, giving local authorities more power to restrict Airbnb-style lets as the housing crunch deepens. TAP Privatization: Portugal has entered a decisive phase of TAP Air Portugal talks, asking Lufthansa and Air France-KLM to improve bids for a 44.9% stake in the national carrier. Payments & Retail: Wero is expanding in France via Orange, enabling subscription bill payments through banks’ apps using the European Payments Initiative platform. Scam Watch: BBB Scam Tracker data shows Ohio cities with reported fraud incidents in July, underscoring ongoing consumer losses. Trade & Travel: Southwest added LOT Polish as an interline partner, but partner itineraries still can’t be booked on Southwest.com. Portugal Angle: Portugal is listed among countries participating in Qatar’s S’hail 2026 hunting and falconry exhibition, highlighting cross-border tourism and commerce links.

EU Housing Crackdown: The European Commission is preparing tougher rules to curb short-term holiday rentals and second homes in areas under housing pressure, with Brussels expected to clarify when local authorities can restrict rentals and even limit non-primary home use—an issue that hits tourism-heavy countries like Croatia hard. Portugal Finance Boost: Fitch upgraded Portugal’s sovereign rating to A+ for the first time since 2011, citing stronger public finances and a debt-reduction path, while keeping a stable outlook. Portugal Waste Plan: Portugal approved a €2.3bn investment plan through 2030 to tackle landfill capacity limits, pushing more separate collection, recycling and treatment to cut reliance on landfills. TAP Privatisation Talks: Portugal has opened final negotiations over TAP’s sale with Air France-KLM and Lufthansa, seeking improved offers. Banking Deal (Angola): Banco BPI agreed to sell its 33.35% stake in Angola’s BFA to Congolian Financial for €388.5m (potentially higher with dividend-linked payments). EU Border Changes: From Sunday, the Entry/Exit System (EES) resumes across EU borders, raising the risk of longer queues for travellers entering countries including Portugal.

Portugal Economy & Finance: Fitch upgraded Portugal’s rating to A+ with a stable outlook, a signal investors will watch for borrowing-cost spillovers. TAP Privatisation: Portugal opened final talks on TAP’s sale with Lufthansa and Air France-KLM, seeking improved offers for the state’s 44.9% stake. Utilities Markets: Citi reiterated a Buy on EDP Energias de Portugal, pointing to solid quarterly results and an upside versus the current share price. EU Policy & Mobility: The EU’s Schengen/free-travel rules faced renewed pressure after the Ceuta/Melilla crossings, with Portugal’s foreign minister saying there was no immediate Schengen threat. Crypto & Payments: Stripe-backed euro stablecoin EURR launched in late August and quickly reached about $665k in market cap, starting in Portugal among other markets. Business & Trade Links: Macao’s government wrapped an ASEAN-focused business tour, reporting 189 agreements signed to boost trade and tourism ties.

TAP Privatization: Portugal has opened a fresh negotiation round for Air France-KLM and Lufthansa, seeking improved final offers for up to 44.9% of TAP after both bidders’ July proposals were judged too close to call. Energy Security: EU gas storage sits at 65.85% overall, but Germany and the Netherlands are notably lower, while Portugal and Poland are above 93%, raising pricing nerves heading into winter. Business Networking: LEDEX Forum adds Algarve Evolution and The Portugal News as partners for its Oct. 15 conference, aiming to connect Algarve entrepreneurs with an English-speaking audience and practical AI sessions. Regional Trade/Travel: Portugal’s TAP talks and broader airline capacity moves come as Europe braces for travel pressure and shifting costs. Consumer Fraud Watch: Mount Victory (Ohio) logged three BBB scam reports in July, including counterfeit product and an online purchase that turned into a debit-card subscription.

TAP Privatisation Talks: Portugal has opened final negotiations with Lufthansa and Air France-KLM after judging their binding offers for a minority stake in TAP as “very similar,” with weeks of talks aimed at improved proposals before exclusive final talks with one bidder; the government will also weigh fleet plans, maintenance, sustainable fuels, labour commitments and TAP’s strategic role. Retail Competition: Lidl is widening its lead in Portugal’s grocery market, holding 13.8% versus Mercadona’s 7.4% in H1 2026, with the gap attributed to Lidl driving more frequent shopping rather than just store expansion. Regional Industry Planning: Algarve politicians are pushing the government to explain why the region was left out of six “major strategic business areas” meant to attract large investment via serviced industrial zones. Air Travel Capacity: Ryanair is cutting two million seats for winter 2026–spring 2027 and warning fares could rise if fuel costs stay high. Maritime/Trade Diplomacy: Angola and Macau signed a mutual visa exemption deal to ease mobility for business and travel, effective 90 days after signing. Data Security: Trezor says a breach is worse than first reported, adding 67,000 more U.S. customers affected.

Portugal Energy & Industry: Portugal’s largest unsubsidised solar park, Solara4 in Alcoutim (Algarve), has entered administration after €66.6m in debts, with lower-than-forecast generation, falling wholesale prices and technical issues squeezing the business model. Aviation & Trade: GOL is launching its first-ever scheduled Europe service, a nonstop Rio de Janeiro–Lisbon route starting Sept. 16, with four weekly flights and an added frequency from late November. Business & Finance: Revolut’s push into banking continues after conditional approval for a US national bank charter, alongside plans tied to stablecoins and a broader financial-services footprint. Tourism & Consumer Spending: VIVA Cruises is promoting “End of Summer” sailings including Douro itineraries in Portugal, leaning on all-inclusive packages and short-notice departures. Health & Skills: A new Portuguese survey warns geriatrics teaching at medical schools is patchy, raising concerns that future doctors may not be trained for the country’s fast-aging population. EU Policy & Climate: Spain urges the EU to create a dedicated climate adaptation fund and set binding adaptation targets as heat and wildfire costs keep rising.

Portugal–São Tomé Summit Prep: Prime Minister Luís Montenegro says Portugal and São Tomé and Príncipe are already preparing a bilateral summit, aiming to deepen cooperation and spur investment by Portuguese firms. Portugal Politics: Parliament is set to debate a Chega no-confidence motion next Tuesday, with deadlines cut to keep the process moving. Lisbon Commemoration: Lisbon Mayor Carlos Moedas marked the one-year anniversary of the Glória funicular crash, renewing calls to remember the victims and support families. Aviation & Industry: Airbus resumed A330 deliveries after a three-month near-halt caused by a tool found in the horizontal tail plane, with inspections now completed. Fintech & Banking: Revolut received conditional U.S. OCC approval for a national bank charter, moving it closer to a 2027 launch and potential stablecoin services. Football Business: Sporting Lisbon host Nacional as Portugal’s top-flight season continues, with Sporting pushing for a fourth straight league win. Cross-border Tech Disruption: Major AI services including ChatGPT, Gemini and Grok reported outages affecting users in Portugal and beyond.

Lisbon Tourism & Safety: Lisbon marked the one-year anniversary of the Gloria funicular derailment with a memorial for 16 victims, while the iconic service remains halted and other funiculars are under inspection—fresh pressure on safety and accountability as tourism rebounds. Aviation & Business: EuroAtlantic Airways is adding an ex-Malaysia Airbus A330-300 to its fleet via wet-lease/ACMI, signaling continued long-haul capacity growth. TAP Expansion: TAP Air Portugal will launch a nonstop Lisbon–Orlando route on Oct. 29 (3 weekly flights), adding its first-ever Central Florida nonstop link. Port Digitalisation: Indra will digitise and automate the Port of Bilbao to meet EU customs rules, aiming to cut transit times through real-time “single declaration” data sharing. Energy Deal: Galp and TotalEnergies closed a Namibia asset reshuffle, with Galp gaining stakes tied to Venus and Mopane while TotalEnergies takes operatorship in PEL 83. Labour & Trade: Netherlands and Iceland published expanded lists of countries whose citizens can work without a permit—Portugal is included. Sports Media: IBC 2026 puts sports tech front and center, with sessions featuring Liga Portugal and others on AI and interactive fan engagement.

EU State Aid: The European Commission has approved a €30m Portuguese scheme to help agriculture, fisheries and aquaculture firms hit by higher fuel and fertiliser prices linked to the Middle East crisis, with direct grants capped at €50,000 per company and running until 31 Dec 2026. Energy & Industry: Airbus workers in Spain’s main plants (Getafe, San Pablo and Tablada) vote to keep an indefinite strike after unions rejected pausing mobilisations, while the company ties its latest offer to immediate strike suspension. Trade & Infrastructure: Angola’s Lobito Corridor gets a major boost as the DRC signs a 30-year concession for the Benguela railway stretch to Zambia with Portuguese contractor Mota-Engil África, targeting integration via the Dilolo–Sakania route. Diplomacy & EU: Sofia Moreira de Sousa, a Portuguese diplomat, takes up her post as the EU ambassador to Albania as accession talks advance. Business & Tourism: Seabourn opens bookings for a 138-day 2029 world cruise featuring a Lisbon stop, while Macau’s government launches a consultation to modernise the legal framework for associations.

Portugal Wealth & Insurance: Utmost launched a distribution company in Portugal (Utmost Wealth Portugal) to sell wealth-planning and insurance-based solutions, appointing Pedro Paixão to lead growth after the Lombard International acquisition. EU Biodiversity Compliance: Portugal is among the few EU states that met the Sept. 1 deadline for national nature restoration plans under the EU Nature Restoration Law, while 20 countries still lag behind. Aviation & MRO: TAP Air Portugal’s new COO says engine maintenance providers must plan for parts shortages as “the new normal,” warning that material availability remains volatile even after supply-chain improvements. Clean Energy Investment: HyOrc restructured its Portugal joint venture with MO.RE.DA Oils after a €6.7m STEP grant, cutting HyOrc’s funding to an initial green methanol module. Cyber & Fraud Risk: APWG reports phishing and fraud rose in Q2 2026, with impersonation and scams spreading via email, phone, messaging and social media. Stablecoins Watch: A new forecast projects the stablecoin market could reach USD 1.16tn by 2031, driven by cross-border settlement demand.

Portugal Economy & Policy: Portugal’s agriculture in the Algarve is under pressure as water limits, EU funding uncertainty, and an ageing workforce collide, with a regional seminar in Lagoa urging more targeted planning for the next decade. Aviation & Airlines: TAP Air Portugal has completed its restructuring and rolled out its 2026–2035 strategy after a €99.2m interim net loss in H1 2026, as the carrier continues to be courted by major European rivals. EU Funding & Infrastructure: Portugal is consulting on a strategy targeting 6.9 GW of storage by 2030, while separate reporting flags further delays to the Portuguese TEN-T corridor due to theft and certification issues. Business & Finance: Revolut has launched its euro-backed stablecoin EURR, positioning it as a new way to move on and off-chain with ECB-linked privacy safeguards. Energy & Shipping: DP World has named its first methanol dual-fuel vessel, adding to the push for lower-emission trade logistics.

Portugal business & finance: Revolut begins phased rollout of EURR, a euro-backed stablecoin, with testing starting in Portugal (alongside Denmark and Poland), aiming to make euro transfers more “on-chain” for eligible customers. Retail & jobs: Primark hits a major milestone with its 500th store opening in Naples, and says it will follow with new openings in Portugal this week, underlining continued expansion and hiring momentum. Tech & enterprise: Fujitsu appoints Aditya Raj as Head of Data & AI for Iberia, tasked with growing Data & AI strategy across Spain and Portugal. Energy & infrastructure: Portugal opens consultation on a strategy targeting 6.9 GW of storage by 2030, with long-duration and pumped storage framed as key to renewable reliability. Shipping & trade: DP World’s Portugal-flagged methanol dual-fuel feeder DP World London completes early bunkering in Rotterdam, signaling more flexible low-emission logistics across Northern Europe.

Portugal & EU Policy: Portugal opened a consultation on a strategy targeting 6.9 GW of storage by 2030, as the country pushes grid flexibility to support renewables. Aviation & Travel: TAP Air Portugal is reported to have flown into the red ahead of privatization, while a separate travel-rights story highlights how sports and media deals keep getting pricier. Defense & Trade: K-DEX 2026 in Korea will run Dec. 8–11 and includes a confirmed Portugal national pavilion, underscoring growing defense-industry procurement links. Shipping & Decarbonisation: DP World’s Shipping Solutions named its first methanol dual-fuel vessel, aiming to cut emissions in shortsea and feeder trade. Business & Markets: Asseco Poland’s H1 2026 earnings call points to strong growth (revenue up 16% YoY) and a larger order backlog. Scams & Consumer Risk: BBB Scam Tracker data shows persistent fraud losses in the US, with multiple cities tied for high scam-report rankings—another reminder for tighter consumer protections.