A moderate earthquake measuring 4.7 on the Richter scale shook the Lisbon metropolitan area February 17, 2025 at 1:24 PM. According to the Portuguese Institute of the Sea and Atmosphere (IPMA), the epicenter was located approximately 14 kilometers west-southwest of Seixal. The tremor was felt in various regions, from Central Portugal to the Algarve, prompting concern but causing no reported casualties or significant structural damage.

While there were no reports of casualties or critical infrastructure failures, the earthquake prompted precautionary evacuations in several schools and health centers in Seixal. Officials confirmed that operations in these facilities resumed after structural assessments to ensure safety for students, staff, and patients. Residents across Lisbon reported feeling the tremors, with some experiencing swaying furniture and brief power fluctuations.

Lisbon’s Preparedness for Seismic Events

In response to the event, Lisbon Mayor Carlos Moedas reassured residents that the city is well-prepared for earthquakes and potential tsunamis, stating “We have not received any emergency requests, but we are aware that many people have called seeking information.” He highlighted Lisbon’s infrastructure and preparedness measures, which include 86 designated emergency meeting points and the Aviso LX early warning system. These can be accessed via SMS by sending ‘AvisosLx’ to 927 944 000.

Moedas also outlined earthquake preparedness efforts that have been carried out in recent years, including reviewing the structural integrity of more than 1,400 buildings, the distribution of over 2,500 emergency kits, and training 700 engineers in anti-seismic resistance. These initiatives aim to minimize damage and improve emergency response times in the event of a major earthquake.

The Baixa Pombalina district, known for its historical architecture, remains a primary area of concern due to its pre-modern construction techniques. The mayor confirmed that ongoing evaluations are being conducted to assess the seismic resilience of older buildings, while modern developments are being built with strict earthquake-resistant standards.

Earthquake Felt Beyond Lisbon

President Marcelo Rebelo de Sousa acknowledged feeling the quake at his official residence in Belém. Citizens reported feeling windows rattle and chandeliers sway, although no major damage was recorded. According to IPMA, the tremor reached a maximum intensity of V on the Modified Mercalli Scale in Sintra and Almada, while weaker tremors were recorded in municipalities as far as Coimbra and the Algarve.

Despite initial concerns, geologists have stated that this earthquake does not indicate an increase in seismic activity. Geologist Filipe Rosa explained that the tremor occurred within the Eurasian tectonic plate rather than at its border with the African plate, where stronger earthquakes are more likely. This distinction suggests that, while tremors are expected in the region, they do not necessarily signal a heightened risk of a major earthquake in the near future.

Seismic Activity in Europe

The earthquake in Lisbon follows recent heightened seismic activity in other parts of Europe, including a 5.3 magnitude tremor near Santorini, Greece. European Facilities for Earthquake Hazard and Risk (EFEHR) has identified several high-risk urban areas prone to seismic events, including Athens, Bucharest, Istanbul, and Naples. These regions are historically known for their vulnerability to seismic activity due to their proximity to tectonic fault lines.

The Lisbon earthquake also serves as a reminder of Portugal’s seismic history, with the most devastating event occurring in 1755. At that time, an estimated 8.5–9.0 magnitude earthquake struck the region, which triggered a massive tsunami and widespread destruction. While modern engineering and emergency preparedness have significantly improved, authorities stress the importance of continued awareness and readiness.

Lisbon’s emergency response framework includes regular earthquake simulation drills carried out by the Firefighters Regiment, as well as ongoing public awareness campaigns about self-protection measures. City officials encourage residents to familiarize themselves with designated emergency meeting points and ensure their homes and workplaces are as earthquake resistant as possible. Lisbon’s emergency meeting points and additional earthquake preparedness resources can be found on the city’s official website.

Authorities continue to monitor the situation and will issue further updates if necessary.

1. Portugal’s Tourism Revenue Soared 10.9% to €6.6 billion in 2024

In 2024, Portugal’s tourism sector experienced a strong surge, with total revenue rising by 10.9% to €6.669 billion, while accommodation revenue reached €5.128 billion. The increase was largely driven by a 4.8% growth in non-residents’ overnight stays, alongside a 2.4% rise in resident stays. Overall, the total number of overnight stays increased by 4%, totaling 80.3 million for the year. December saw 1.9 million guests (+3.6%) and 4.2 million overnight stays (+2.9%), generating €313.8 million in total revenue and €222.5 million in accommodation revenue, highlighting a robust performance in the sector.

The average revenue per available room in December grew by 5.9% to €38.2, while the average daily rate rose 6.4% to €97.4, with Lisbon leading at €118.0. Lisbon accounted for 23.9% of the total overnight stays, showing a 2.6% increase, including a 3.4% rise in non-resident stays. Cities like Vila Nova de Gaia and Ponta Delgada stood out with remarkable increases of 13.3% and 12%, respectively. The fourth quarter saw even more growth, with overnight stays rising 4.7%, driving a significant rise in revenues, with total revenue up 11.7% and accommodation revenue up 12.1%. Note that this continued growth reflects Portugal’s thriving tourism industry, which remains a key driver of the national economy.

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2. Portuguese Airports See 18% Increase in Passengers in 2024

According to the National Statistics Institute (INE), in 2024, Portuguese airports experienced an 18% surge in passenger traffic, with 70.4 million passengers and 4.7 million in December alone, marking a 3.9% increase compared to the same month in the previous year. Daily averages hit historical highs, with approximately 78,000 passengers disembarking in December, a 2.8% rise from the previous year. The total number of commercial flights increased by 12%, reaching 245,900, while cargo and mail handling surged by 14.2%, totaling 254.8 thousand tons. It seems safe to state that these figures reflect Portugal’s resilient air travel sector, which is being able to drive growth amid global challenges.

For comparison, the United Kingdom led as the top country of origin and destination, with increases of 1.4% in disembarking and 1.3% in boarding passengers. France, Spain, Germany, and Italy maintained their positions, despite some decline from France. Note that these results highlight Portugal’s continued attractiveness as a key European hub, not only for passengers but also for cargo, reinforcing its position within the global aviation network. The year’s growth reaffirms Portugal’s role as a strategic and resilient player in the European and global air transport market.

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3. Portuguese Government Increases Investment in Green Bus Fleet

The Portuguese government increased the investment in zero-emission buses by 137 million euros, raising the total for the zero-emission bus fleet to 227 million euros. This funding, part of the Recovery and Resilience Plan (PRR), aims to expand the fleet, purchasing 390 additional buses, bringing the total to 861 by 2026. Note that the initiative also includes installing charging and refueling infrastructure nationwide, covering both metropolitan areas of Lisbon and Porto, as well as several municipalities across the country.

The government prioritizes clean transport and sustainable infrastructure with an average 15-month timeline for the production, delivery, and installation. Municipalities and intermunicipal communities throughout the country are set to benefit, ensuring broader access to zero-emission buses. Lisbon, Porto, and several smaller municipalities, including Albufeira, Coimbra, Braga, and Viana do Castelo, are included in the scope. The expansion supports accessibility to mobility as a right, aiming to leave no one behind in low-demand areas.

Ministers highlight strategic decisions to apply European funds effectively, with Maria da Graça Carvalho, the Portuguese Minister for Energy and the Environment, emphasizing the importance of efficient use for tangible results. The initiative forms part of a broader push for cleaner, greener transport solutions, ensuring that Portugal is on track to meet its environmental goals through sustainable investments and infrastructure developments.

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4. António Costa Sees Concessions Made to Russia Before Peace Negotiations as Unacceptable

At the Munich Security Conference, the President of the European Council, António Costa, stressed that only Ukraine can define when there are conditions for negotiations and rejected imposing concessions before negotiations. He warned that a “comprehensive peace” must not simply be a “ceasefire” or “reward the aggressor” but should guarantee that Russia ceases to be a threat, particularly to Ukraine and Europe’s security. Costa emphasized that such peace must ensure Russia “no longer poses a threat” to “international security.”

He further stated that the European Union will continue to “support Ukraine on all fronts” and will be “stronger, better, and faster” in its efforts to build a defense in Europe. Costa pointed out that the Russian threat is not limited to Ukraine but extends to Belarus, Moldova, Georgia, and the Baltic States, highlighting how it impacts “democratic systems” and “critical infrastructure.” He reiterated that the EU fully assumes its “responsibilities” in the peace process and that “there will be no credible and successful negotiations” without both Ukraine and the EU.

Reflecting on the EU’s evolution since the 2022 invasion, Costa noted that the Union has become a “new geopolitical European Union.” He explained that the EU accelerated its expansion into the Western Balkans and began negotiations with Ukraine and Moldova, while also reducing its dependence on Russian energy in a “huge collective effort.” Costa concluded that “peace without defense is an illusion,” promising that the EU will act collectively to ensure lasting peace, security, and defense.

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5. Lisbon is Among the Most Valued Cities in the Global Luxury Market

Lisbon, which occupies the 10th position among the cities with the highest growth in luxury property prices, demonstrates notable resilience and attraction in the global real estate market. A remarkable 5.3% increase in house prices has allowed it to surpass major cities like Paris, London, and New York, highlighting its status as a prime destination for international investors. According to the latest Prime Global Cities Index, Lisbon’s performance contributes to the global trend of stabilized property markets, with 34 out of 44 cities showing positive growth. As one of the most sought-after luxury markets, Lisbon remains firmly on the radar of high-profile buyers, reinforcing its appeal within the international investment landscape.

Globally, luxury property prices are seeing significant growth, with Seoul leading the charge at 18.4%, followed by Manila and Dubai. Lisbon’s consistent growth, alongside other major cities, reflects the broader trend of a 3.2% global average increase. Despite the challenges posed by inflation in developed economies, optimism prevails for the year ahead. Experts suggest that potential interest rate cuts could further fuel growth in luxury property prices, with Lisbon remaining a key player in this expansion. As a hotspot for investors seeking high-end opportunities, Lisbon solidifies its role as a top destination and a thriving luxury real estate market in a constantly evolving global landscape.

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6. IMGA CEO Believes That “We Can Have Years of International Investment Inflow Into The Portuguese Market”

International investment is increasingly drawn to Portugal, as evidenced by IMGA’s success in attracting foreign capital through their equity fund. Note that IMGA is the second-largest asset manager in Portugal, with €4.8 billion in assets under management.  With over 90% of the fund’s investors coming from abroad, the firm has helped bring much-needed liquidity to the Portuguese stock exchange. According to CEO Emanuel Silva, the growing international interest, particularly from investors in the U.S. and the U.K., signals a positive trend for the Portuguese market. “We can have years of investment inflows into Portugal,” he confidently states, highlighting the opportunity for growth.

The Golden Visa program has played a crucial role in this influx, with foreign investors eligible for residency by investing in Portuguese funds, particularly in IMGA’s equity fund. As international demand for these investment vehicles rises, IMGA has positioned itself as a key player, capitalizing on Portugal’s increased international profile. Emanuel notes that the country’s improved international rating, coupled with rising attention from prominent global investors, contributes to Portugal’s appeal as a solid investment destination.

In response to this trend, IMGA plans to broaden its portfolio in 2025, particularly through private equity and real estate funds aimed at foreign investors. With international markets eyeing Portugal’s emerging potential, IMGA seeks to further attract foreign capital to boost the local economy. As Portugal becomes more visible on the global investment map, IMGA’s strategic expansion, which is fueled by international interest, ensures continued growth and relevance in the Portuguese financial landscape.

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7. Foreign-Capital-Controlled Banks Represent 60% of the Portuguese System

More than 60% of the Portuguese banking system is controlled by foreign capital, including major banks like BCP, Santander Totta, Novo Banco, BPI, Bankinter, and Abanca, representing both assets and liabilities. Foreign control has strengthened since 2016 when it represented 50%, reflecting a significant rise in investments from Spanish, Angolan, Chinese, and U.S. entities. BCP, for instance, has major shareholders such as Fosun and Sonangol, while Spanish influence, with Caixabank’s acquisition of BPI and Santander Totta’s absorption of Banif, intensifies the foreign presence.

Over the last decade, Spanish capital has grown, accounting for almost 30% of Portugal’s banking system by June 2024. This shift includes notable acquisitions such as the BPI takeover and Bankinter’s expansion. The retreat of Angolan investors, notably Isabel dos Santos’ Santoro group, contrasts with the continued Chinese capital presence, such as Fosun’s majority share in BCP. Despite a decrease in visibility, these investors continue to influence the market, positioning themselves as established stakeholders in the Portuguese banking ecosystem.

The U.S.-based Lone Star holds a 75% stake in Novo Banco, signaling major changes as they prepare for an IPO, which will alter the national banking landscape. Additionally, the sale of Novo Banco, a significant player in the sector, will contribute to reshaping Portugal’s financial dynamics. Note that this ongoing foreign investment in Portuguese banking strengthens the sector’s international ties and signals potential structural shifts and consolidation in the coming years.

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8. Portugal May Have a Privileged Position to Make a Positive Contribution to Europe’s Green Transition

Portugal’s privileged position to help Europe’s green transition is highlighted by its renewable energy penetration, competitive electricity prices, and valuable raw materials like lithium. The Secretary of State for the Economy, João Rui Ferreira, states that Portugal aligns with the European vision and challenges, reinforcing the importance of strengthening the industrial sector and fostering innovation. The European Commission’s speech on non-negotiable goals echoes the need for urgent action, yet the pace remains open for discussion.

Looking at the Draghi Report and Compass for Competitiveness, the Secretary of State sees Portugal contributing positively to Europe’s green industrial movement. He emphasizes the importance of enhancing the industrial fabric, increasing transformation capacity, and adding value to the economy. Initiatives like the one-billion-euro green industry program, focusing on decarbonization, are already in motion, targeting SMEs to drive transformative growth.

Closing the innovation gap is critical for Europe, and the Secretary of State believes Portugal should lead the technological wave. With a focus on emerging technologies, the government has been accelerating mechanisms such as EU funding. Capital access, particularly for startups, remains an area where Europe lags, but Portugal aims to lead in this space, ensuring it stays ahead in global competitiveness.

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9. Corruption Perception Index: Portugal Achieves Worst Result Ever

Portugal dropped nine positions in the 2024 Corruption Perception Index, reaching its worst result ever with 57 points, a sharp decline from the 61 points in 2023. This slide is attributed to the perception of public office abuse for private gain, notably in scandals like the ‘Operation Influencer’, which led to the resignation of the then Prime Minister, António Costa. Despite ranking higher than Spain and Italy, Portugal shares the 43rd spot with Botswana and Rwanda, marking it as one of the worst performers in Western Europe, with a significant deterioration in evaluations from various sources. Factors like weak law enforcement, nepotism, political favoritism, and insufficient public sector transparency have contributed to the country’s worsened reputation.

The Transparency International (TI) report points to structural issues in Portugal’s anti-corruption strategy, including a lack of political commitment, inadequate public integrity mechanisms, and persistent flaws in enforcement. Note that TI Portugal criticized the sluggish justice system, delays in major corruption trials, and the lack of clarity in anti-corruption strategies, highlighting that while new legal measures exist, their implementation and monitoring are insufficient. Recent scandals, such as the one mentioned above, worsened public perception, leading to a growing connection between politics and business, fueling further distrust.

Thus, TI Portugal demands an effective commitment to reform, including accelerating legal processes, enforcing stricter controls on politicians’ assets, and boosting transparency in public institutions. The organization stresses that enhancing the financial and operational autonomy of bodies like the Transparency Authority and MENAC (National Anti-Corruption Mechanism) is vital for independent, effective action. Although some countries managed to improve their corruption rankings, Portugal faces the challenge of reversing its downward trend to restore international trust and ensure stronger governance in the future.

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10. Government Approves Change to the Organizational Structure of the National Anti-Corruption Mechanism

In line with the last Corruption Perception Index, the Portuguese Government approved a restructuring of the National Anti-Corruption Mechanism (MENAC) with a new organizational law, establishing a three-member Board of Directors to replace the previous single-person leadership. This change aims to revitalize MENAC and enhance its role in combating corruption and making it more visible and effective. Note that the restructuring also includes the creation of a new staff framework, expanding hired personnel beyond just the inspector career. Additionally, Minister of Justice, Rita Alarcão Júdice, emphasized the importance of increasing parliamentary oversight to boost MENAC’s capabilities.

This decision to restructure MENAC is one of several measures taken by the Government as part of the ongoing fight against corruption, which also includes progress on the 32 actions from the anti-corruption agenda. It is relevant to consider that the Minister also highlighted positive results, such as the implementation of electronic processing for criminal inquiries, which has proven effective. The draft bill on the extended forfeiture of assets obtained through corruption is nearing its final stages and will soon be presented to Parliament.

In short, the restructuring of MENAC reflects the Government’s commitment to enhancing its anti-corruption efforts, addressing issues such as procedural delays and the need for greater transparency. But, as it may not be enough, the Minister of Justice noted that a new working group focused on improving procedural speed and tackling dilatory tactics will soon begin its work.

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1. Lisbon Will Host First Edition of the Portuguese Guitar Festival

For the centenary of Carlos Paredes, Lisbon will host the first-ever Portuguese Guitar Festival on March 7th and 8th, across five prominent venues, including Cinema São Jorge, Capitólio, and Variedades. Note that Carlos Paredes was a renowned Portuguese composer and virtuoso guitarist, widely regarded as the father of Portuguese guitar music. With over 80 musicians from various generations and styles, the festival will offer a diverse program featuring concerts, lectures, and documentary screenings. The opening will feature the Orquestra Sinfonietta de Lisboa, conducted by Vasco Pearce de Azevedo, and guitarist Paulo Jorge performing the original composition “Mata de Lobos.” Throughout the festival, other performances will include recitals by Henrique Fraga, Armindo Fernandes, José Manuel Neto, Pedro Caldeira Cabral, and a special tribute to Carlos Paredes by Luísa Amaro, “Sons da Guitarra — 100 anos de Carlos Paredes.”

In addition to the concerts, the festival will include insightful lectures, such as “António Chainho interviewed by Moema Silva,” exploring the illustrious career of guitarist António Chainho, as well as a conversation with Luísa Amaro about her artistic collaboration with Paredes. A hands-on workshop on guitar-making, led by the esteemed Acácio Rodrigues and Rita Marcelino, will provide attendees with practical insight into the craft. The festival’s evenings will conclude with an open gathering and autograph session at Cinema São Jorge, giving fans and artists a chance to connect and celebrate the legacy of the legendary Carlos Paredes.

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2. Portugal Has Two of the Fifteen Best Private Schools in Europe in 2025

The latest Carfax Education Global School Index for 2025 includes two Portuguese schools: St. Julian’s in Carcavelos and St. Peter’s in Palmela. Recognized for their academic standards and university preparation, both schools stand out for offering exceptional educational experiences. St. Julian’s is known for its comprehensive facilities and focus on international education, while St. Peter’s provides a strong bilingual curriculum with an emphasis on holistic student development.

Portugal’s inclusion in this prestigious list highlights the country’s growing reputation in European education. These schools, alongside other elite institutions in Europe, have made a name for themselves with their academic rigor and their ability to prepare students for life beyond the classroom, using modern teaching approaches and facilities that match international standards.

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3. Some Portuguese Soccer Clubs Are Being Used for Money Laundering

Portuguese clubs have been implicated in laundering illicit earnings, raising serious concerns among authorities. Luís Ribeiro, coordinator of the PJ’s National Anti-Corruption Unit, explained at the FITS Forum 2025 that some clubs have seen capital enter with unclear origins and objectives. The situation is particularly troubling when large sums of money are invested in clubs by individuals whose intentions remain ambiguous, drawing attention from investigators eager to understand the end goals of such investments.

Ribeiro also highlighted the challenges faced by the PJ when dealing with financial irregularities, such as inflated contracts and commission payments to intermediaries, which serve to create the appearance of legitimate business dealings. Image rights, he pointed out, operate as undefined commodities, and money circulates in ways that are not easily traceable. These activities point to a broader issue in which money flows out of clubs without clear accountability, reflecting a pattern not limited to the sports sector, but also present in both public and private industries.

In response, the Portuguese Football Federation (FPF) has acknowledged the gravity of these concerns. The FPF has dedicated resources to gather and verify information about investors in the clubs it licenses, whether they are true shareholders or “front men.” In addition, the FPF works closely with the PJ and other relevant authorities, demonstrating its commitment to transparency and accountability in football. This cooperation aims to ensure that clubs operate within a framework that discourages illicit activities and fosters a clean, lawful environment in Portuguese football.

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4. Startup That Offered AI Solution to INEM Reaches an Impasse

Sword Health, a Portuguese startup, offered an AI-based automatic call handling solution to INEM, the national medical emergency institute, but faced significant challenges in implementing it. Virgílio Bento, the company’s founder, expressed frustration, stating that it is “impossible to integrate” their solution into INEM’s “obsolete” and “fragile” information system. Despite the company’s efforts, the system’s technological shortcomings and “pathological aversion to change” among technicians hindered progress, with Bento warning that these issues are exacerbating the challenges faced by emergency medical technicians.

In response, the Workers’ Commission at INEM rejected the company’s claims, insisting that INEM staff are not “incapable” and defending the need for an “update of IT resources” rather than an AI system that cannot address the nuances of human analysis. The commission emphasized the importance of hiring more human resources to improve response times, asserting that “no computer system can replace a healthcare professional.” They criticized Sword Health for proposing an “impossible” solution and shifting blame to INEM and its professionals.

Despite the challenges, Sword Health demonstrated its AI solution through a video showing how it could handle emergency calls. Virgílio Bento remains hopeful that the system might improve the emergency response if implemented, though he acknowledged that integration depends on INEM. The case highlights the tensions between a fast-moving private sector and a slower, more cautious public sector, with ongoing concerns over data privacy and the feasibility of introducing AI into sensitive public health operations.

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5. Pending Immigration and Asylum Cases Total 46,824

In 2024, the Lisbon Administrative Court ended the year with 46,824 pending immigration and asylum cases, a staggering 80 times more than in 2023, mainly due to the dissolution of SEF and the creation of AIMA. The report from the Lisbon and Islands Administrative and Fiscal Courts highlights the drastic increase in cases, with 54,222 new 6th Species cases filed, which are cases in Portuguese tax procedural law related to precautionary processes. Despite efforts to conclude 7,973 cases with a special team of judges, the surge in immigration and asylum cases has overwhelmed the system, contrasting with the general trend of decreasing pending cases in the area.

The report also suggests that had it not been for the AIMA cases, the number of pending cases would have been significantly lower, and existing resources could have been better utilized elsewhere. Note that the creation of AIMA and the centralization of asylum case processing in Lisbon made the Lisbon Administrative Court the sole court responsible for these cases. Antero Pires Salvador, president of the Administrative and Fiscal Courts of Lisbon, pointed out that the overwhelming demand for resources could otherwise be addressed more efficiently if not for the current situation.

As of December 31, 2024, the courts had 91 judges, 26 more than legally required, and 16 prosecutors, but 23 judicial officials were still missing. The increase in cases linked to AIMA has placed significant strain on the court system, and the report stresses the need for better allocation of resources to avoid further delays and improve the overall efficiency of the judicial response to immigration and asylum matters.

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6. Average Net Portuguese Salary Surges 10% – The Biggest Increase in a Decade

In 2024, Portugal’s average net salary saw a significant 9.6% rise, reaching 1,142 euros, marking the largest increase in a decade. This 100-euro increase was fueled by a historical 22% jump in the salaries of the Armed Forces, alongside solid gains for farmers and mid-level technicians. This wage surge is also linked to the strong rise in public sector wages, including for teachers, security forces, and healthcare workers, plus adjustments to the minimum wage. Compared to 2011, the net salary increase was 331 euros (41%), underscoring a steady upward trend in earnings over the past decade.

However, despite this positive wage growth, gender wage inequality has worsened. The gap between men and women widened to 206 euros, up from 178 euros in 2023. Men saw a generous 10.14% salary increase, while women’s wages rose by 9.1%. Key sectors like agriculture and skilled labor saw impressive wage growth as well, with farmers and technicians benefiting from raises of around 10%. However, the military sector stood out, with a 22% increase, largely driven by the rise in military condition allowances from 100 to 300 euros. Public sector agreements for salary increases further contributed to these gains, especially for public workers like teachers, police, and nurses.

While most professions experienced increases that outpaced inflation, disparities remain. Unskilled workers saw the smallest growth, with wages rising by just 6.1%, still below the gross minimum wage of 820 euros. Meanwhile, top executives and legislative representatives enjoyed significant raises of 123 euros, reaching an average salary of 1,886 euros. This highlights the growing wage gap, where the difference between the lowest (unskilled workers) and the highest-paid groups (top executives) reached 1,189 euros, reflecting an ongoing disparity in income distribution across professions.

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7. Minister of Economy Advocates for Iberian Alliance in Large-Scale Projects

Pedro Reis, Portugal’s Minister of Economy, called for a strengthened Iberian alliance, urging Spain to collaborate with Portugal on major strategic areas like green hydrogen, electric vehicle mobility, and renewable projects. Speaking at a lunch organized by the Luso-Spanish Chamber of Commerce and Industry in Porto, he emphasized the need for a focused action plan, pointing out that while not every project can be pursued, Portugal and Spain should prioritize key ones. He suggested that the two countries could jointly accelerate technological startup projects, develop data centers, and become leaders in Europe’s green transition and the electric vehicle sector, thus positioning themselves as key players on the global investment map. He emphasized that a coordinated approach between the two nations would make them formidable contenders in Europe’s economic landscape.

In light of current global instability and uncertainty over potential U.S. tariffs impacting international trade, Reis highlighted the opportunity for Portugal to capitalize on its growing appeal to foreign investors. He described Portugal as a “safe haven” for investment, citing its political stability and ongoing initiatives aimed at enhancing competitiveness and attracting capital. He argued that this “extreme volatility” in the global economy opens up a window for Portugal to enhance its economic position, particularly by aligning with Spain on major projects and foreign investment strategies. This collaboration, according to Reis, could help Portugal and Spain become more competitive and influential in the world economy, particularly in sectors like green hydrogen and technological innovation.

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8. Government Plans to Invest 52 Million Euros in Strengthening Fire Prevention and Combat

The Portuguese Government will allocate 52 million euros from the Recovery and Resilience Plan (PRR) to enhance rural fire prevention and promote territory resilience. Over 30 million euros will strengthen the intervention capacity of Forest Producer Organizations and Municipalities, funding the purchase of tractors and specialized equipment for fuel management. Additionally, 10.4 million euros will be invested in acquiring new vehicles, while 6.7 million euros will support intermunicipal communities with the purchase of heavy equipment. The funding will also back technical support for integrated landscape management projects through multidisciplinary teams, with more than 2.5 million euros in grants.

The renewal of motomanual equipment will receive a substantial 2.3 million euros to bolster firefighting efforts. The Ministry of Agriculture and Fisheries highlighted that these investments underscore the government’s commitment to protecting populations and territories from the rising fire risks linked to climate change. Note that this initiative reflects a broader strategy to strengthen resilience and safeguard both people and ecosystems in an increasingly volatile environment.

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9. Middle East: Portuguese Prime Minister Warns that the US Is an Ally and Rejects “Tainting Foreign Policy”

In the biweekly debate, Luís Montenegro condemned “any intervention, intent, or purpose of ethnic cleansing” in Gaza but rejected “hasty conclusions” from US President Donald Trump’s statements. Montenegro emphasized that Portugal would always support “international law, humanitarian law, and a path that could lead to the establishment of two states.” While responding to the Livre party’s challenge, Montenegro clarified that Portugal’s foreign policy would not be “tainted” by any extraneous statements from world leaders. The Prime Minister reaffirmed that the US is “unequivocally our ally.”

The leader of the Livre party, Isabel Mendes Lopes, urged Montenegro to directly condemn Trump’s remarks about taking control of Gaza and relocating Palestinians. She suggested a hypothetical scenario, questioning who would protect Portugal if the US were to violate its sovereignty, highlighting concerns over the potential consequences of not condemning foreign interference in international territories. Montenegro, however, maintained that some issues are better left unspoken and reiterated that Portugal’s stance would focus on dialogue and coordination with its allies.

Note that President Trump’s controversial comments on taking control of Gaza and sending US troops to aid reconstruction sparked international debate. He outlined his vision of a “long-term” US involvement, which raised concerns regarding US actions in the Middle East. Despite the contentious nature of his remarks, Montenegro underscored that Portugal’s role would remain aligned with international law, seeking diplomatic engagement rather than a confrontational approach, while ensuring the protection of Portugal’s interests.

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10. Passenger Traffic at Portuguese Airports Grew by 4.3% to Around 69.2 Million in 2024

In 2024, Portuguese airports saw a 4.3% increase in passenger traffic, reaching nearly 69.2 million, with over 35 million of those passengers traveling through Lisbon. The Vinci-owned ANA, the company responsible for the management of Portuguese airports, generated almost 1.3 billion euros in revenue, accounting for 28% of the total 4.526 billion euros in the airport segment. Note that ANA’s EBITDA was 865 million euros, representing 30% of the total airport segment earnings of 2.883 billion euros.

These figures highlight the growth in the airport sector, with ANA’s financial performance remaining strong, driven by increased passenger numbers. The overall performance of Vinci’s airports in Portugal reflects the company’s continued success in managing the country’s major airports. The steady rise in passenger traffic is seen as a key indicator of recovery and growth in Portugal’s aviation sector.

On a strategic level, the government has instructed ANA to move forward with the bid for the new Alcochete airport, a project that aligns with ANA’s report, which outlines no direct contribution from the State Budget. This follows the approval of the Luís de Camões Airport plan, which also adheres to the government’s strategy. ANA, which was sold to the French Vinci Group for around three billion euros in 2012, remains integral to Portugal’s airport management and development.

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Prince Karim Al-Hussaini, known as Aga Khan IV, was a unique figure in the modern world—a spiritual leader, philanthropist, and businessman whose influence extended far beyond the Ismaili Muslim community. For nearly seven decades, he led millions of followers across the globe and made a profound impact on education, healthcare, and cultural preservation. His passing on February 4, 2025, in Lisbon, Portugal, marks the end of an era, but his legacy continues through the institutions he built and the lives he transformed.

Who Was the Aga Khan IV?

Prince Karim Al-Hussaini, known as Aga Khan IV, was born on December 13, 1936, in Geneva, Switzerland. He was the 49th hereditary Imam of the Shia Ismaili Muslims, a position he held from 1957 until his passing in 2025. He inherited the title at the age of 20 from his grandfather, Aga Khan III, who bypassed his own son in favor of his grandson, believing that a younger leader was needed for the modern era.

A Harvard-educated leader, the Aga Khan was widely regarded as a bridge between Islamic traditions and modern development. He believed in the role of the Imam as both a spiritual and worldly guide, ensuring the well-being of his followers through charitable works, economic initiatives, and global development efforts. Unlike other hereditary leaders, he did not rule over a specific territory but led a global community of approximately 15 million Ismaili Muslims spread across 35 countries.

The Aga Khan was also an entrepreneur, known for his interests in horse breeding, luxury tourism, and media. Despite his immense wealth—estimated to be between $1 billion and $13 billion—he dedicated much of his fortune to philanthropy. His philosophy was that prosperity and faith were not in conflict; rather, his success in business allowed him to better serve his followers and humanity as a whole.

Legacy

The Aga Khan IV’s legacy is deeply tied to the Aga Khan Development Network (AKDN), which he founded and chaired. AKDN is one of the largest private development organizations in the world, operating in over 30 countries. It focuses on improving education, healthcare, cultural preservation, and economic development, particularly in impoverished regions of Africa, Central Asia, and South Asia.

Some of his notable contributions include:

• Education – Establishing the Aga Khan University (AKU) in Karachi and other educational institutions, including the University of Central Asia and a network of Aga Khan Academies.
• Healthcare – Funding hospitals, medical research, and rural health programs in developing countries.
• Architecture and Culture – The Aga Khan Award for Architecture, one of the most prestigious awards in the field, and the restoration of historic sites such as Humayun’s Tomb in India and Al-Azhar Park in Cairo.
• Economic Development – Investing in infrastructure projects, such as hydroelectric power in Uganda and telecommunications in Tajikistan, as well as founding Nation Media Group, the largest independent media organization in East Africa.

Beyond his work in development, he played a key role in aiding Ismaili communities facing crises. Notably, during the 1972 expulsion of Asians from Uganda under Idi Amin, he personally convinced Canadian Prime Minister Pierre Trudeau to accept thousands of displaced Ismailis. His ability to blend diplomacy with social impact made him a respected figure worldwide.

Move to Lisbon

In 2015, the Aga Khan made a significant decision to relocate the Ismaili Imamate’s Secretariat to Lisbon, Portugal. This move was symbolic and strategic and strengthened ties between the Ismaili community and Portugal. It also marked the first time that the Imamate had an official, internationally recognized seat.

As part of this transition, he purchased the historic Palacete Mendonça, a grand mansion near Parque Eduardo VII in Lisbon across from El Corte Inglés Department Store. This estate became the global headquarters for Ismaili leadership and the Aga Khan Development Network. The Portuguese government welcomed the move and granted the Aga Khan official Portuguese citizenship, recognizing the Imamate as a supranational entity.

This decision was influenced by several factors, including Portugal’s stable political environment, its historical connections with diverse cultures, and its willingness to accommodate the Ismaili community. The move was also seen as a way to ensure that Ismaili institutions could operate freely in a Western setting.

Death and Succession

Aga Khan IV passed away on February 4, 2025, in Lisbon, at the age of 88, surrounded by his family. His death was announced by the Aga Khan Development Network, though no specific cause was given. His passing marked the end of an era for the Ismaili community, which had seen significant growth and modernization under his leadership.

According to his will, his eldest son, Prince Rahim Al-Hussaini, has been appointed as his successor, now known as Aga Khan V. Prince Rahim has been deeply involved in AKDN, particularly focusing on environmental sustainability and climate change initiatives.

A funeral service is scheduled to take place at the Ismaili Centre in Lisbon, with dignitaries and world leaders expected to attend. Following the ceremony, Aga Khan IV will be laid to rest in Aswan, Egypt, in a private burial.

His death has been met with global tributes, including condolences from King Charles III, UN Secretary-General António Guterres, Canadian Prime Minister Justin Trudeau, and various leaders from the Muslim world. Many have hailed him as a visionary humanitarian, a champion of education and healthcare, and a leader who dedicated his life to improving the well-being of others.

Final Thoughts

Aga Khan IV’s life was one of service, vision, and transformation. His leadership extended beyond religious guidance, touching the lives of millions through education, health, economic empowerment, and cultural preservation. His decision to relocate to Lisbon and establish a permanent base for the Ismaili Imamate was a testament to his forward-thinking approach to governance and faith.

His successor, Aga Khan V, now carries the responsibility of continuing this legacy of development, inclusivity, and humanitarianism, with the hope of ensuring that the institutions built by his father remain a force for good in the world.