1. New York Metropolitan Museum of Art Buys Four Portuguese Pieces
The São Roque Gallery in Lisbon sold four Portuguese pieces, produced between the 16th and 17th centuries, to the Metropolitan Museum of Art (MET) in New York. The collection now part of the MET includes a Portuguese-Cingalese chest made of ivory, a jewelry box from Ceylon, a mother-of-pearl chest featuring a painting of a Portuguese couple, and a desk with a hunting scene and a verse by Camões. These acquisitions reflect the museum’s growing collection, with the pieces connected to the era of Portuguese expansion.
Mário Roque, owner of São Roque Gallery, highlights the significance of seeing these works, once kept by collectors, return to the public eye. He emphasizes that the true impact comes when such pieces find a place in international museums, becoming ambassadors of Portuguese art, still largely unknown beyond Portugal’s borders. The gallery embraces this mission to spread and honor the richness of Portuguese art and history on the global stage, contributing to its recognition worldwide.
In addition, São Roque Gallery will participate in The Winter Show, an art, antiques, and design fair in New York, from January 24 to February 2, 2025. This prestigious event, featuring over 70 international exhibitors, offers a platform for the gallery to continue its efforts to promote and elevate Portuguese culture, showcasing its rich artistic heritage to a broader audience.
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2. Portuguese Company Critical Software Expands to Boston
Critical Software, a Portuguese tech company, has opened a new office in Boston, located “right next to MIT” and major companies like Johnson & Johnson. This expansion follows years of business dealings in the U.S., aiming to leverage the local ecosystem and a “huge talent base” in the medical devices and life sciences sectors, which are the company’s current focus. The company also plans to develop its presence in space and aerospace, tapping into markets with significant potential.
Luís Gargaté, director of the medical devices division, highlights that the company’s U.S. expansion is driven by the opportunity to add value for American clients, just as it does in Europe. The dynamic U.S. market presents an appealing environment, and Critical Software aims to hire new professionals for business development. Gargaté also discusses the possibility of forming partnerships with local universities, like MIT and Harvard, to access knowledge not available in Portugal.
The company is also exploring mergers and acquisitions (M&A) to accelerate growth and gain access to more U.S. market share. Additionally, Critical Software is eyeing future expansion in the space sector, focusing on synergies between its European expertise and the growing U.S. market. With the U.S. government’s renewed interest in space, Critical Software sees an opportunity to participate in the commercial space race, though Mars itself is not a focus for now.
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3. Portuguese President Intends to Schedule Presidential Elections for January 25, 2026
Marcelo Rebelo de Sousa announced his intention to schedule the 2026 presidential elections for January 25, with a possible second round on February 15, 2026. He highlighted that these elections will be “a very intense moment” due to the “number of candidates” and remarked that he cannot recall a campaign “that started so early.” He emphasized that it would be a time of “great debate, great reflection” for the Portuguese, with “plenty of time to choose” and to consider issues regarding the world, Europe, and Portugal.
In line with the Electoral Law, the first round will take place at least 60 days before the outgoing President’s term ends. If no candidate wins more than half of the valid votes, a second round will be held on February 15, between the two most-voted candidates. The candidacy window will close by December 26, with the official campaign running from January 11 to 23. The legal framework ensures that the first and second rounds are held “within 60 days” before the term ends on March 9, 2026, offering a structure to the process.
Previous presidential elections in Portugal have mostly taken place in January, with the exception of the first two after the 1974 revolution, which had special deadlines. The 1986 election was the only one to feature a second round, and all subsequent elections have been held in January, except for the one planned for 2026. The law ensures the elections occur within a timeframe that respects the President’s outgoing term, which will conclude on March 9, 2026.
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4. Presidential Election Poll: Gouveia e Melo and Ventura May Face Off in a Second Round
Admiral Henrique Gouveia e Melo leads the voting intentions for the 2026 presidential elections, with 25% of support, but will likely face a second round against André Ventura, who follows in second place with 16%. The poll, conducted by ICS/ISCTE for the newspaper Expresso and the news channel SIC, shows that while Gouveia e Melo is ahead, his support is not enough for a first-round victory. With 15% of respondents still undecided, figures like António José Seguro (15%), António Vitorino (14%), and Marques Mendes (13%) follow behind.
Gouveia e Melo’s voter base is quite homogeneous, favored by men and elderly voters, and he has strong support across different education levels, income brackets, and political ideologies. He is especially strong among those without party preference, who make up the most undecided group. The Admiral also captures a substantial portion of PSD and PS voters (35% and 30%) but is less supported among Chega voters (12%).
The poll results reveal that Chega’s electorate is more loyal to Ventura, with 85% support, compared to PSD and PS supporters, who are less unified behind their potential candidates. While Gouveia e Melo’s support is broad, the competition remains close, and with multiple candidates in the race, a second-round election, which, as mentioned above, only happened once, is expected to be highly contested.
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5. Lisbon City Council Launches Employment Platform for Immigrants
Lisbon’s City Council is launching an online platform during the first quarter of 2025 that aims to integrate immigrants into the labor market in a dignified and structured way. The initiative will match the skills of immigrants with the needs of companies in Lisbon, promoting better and more jobs for those wanting to work in the city. According to Carlos Moedas, the Mayor of Lisbon, this project shows how Lisbon is at the forefront of modern, responsible, and future-oriented immigration policy.
The platform aims to respond to both the difficulties of immigrant integration and the labor shortage in Lisbon, connecting immigrants without jobs to companies in need of workers. Moedas stresses that Lisbon needs immigration, but it must be oriented to the labor market to create better job opportunities. He highlights the importance of bridging skills and company needs, ensuring that immigrants are able to find employment.
Building on the existing Lisbon Employment Map, which already includes over 6,000 job opportunities and nearly 2,000 training offers, the platform will be restructured to meet the demands of the national market. Note that the initiative will also form partnerships with associations that focus on the integration of immigrants and refugees through employability, ensuring access to tailored training for market needs. This is a critical step that hopes to solidify Lisbon’s role as a leader in immigration policy in Europe.
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6. Central Portugal Sets a New Tourism Record in 2024
Preliminary results for tourism activity in 2024, released today by the National Institute of Statistics (INE), confirm that Central Portugal is experiencing significant growth. The region set records in all indicators, solidifying itself as one of the most dynamic tourist destinations in the country.
According to Central Portugal, “for the first time, it surpassed the 8 million overnight stays mark in tourist accommodations, registering a total of 8,377,732 from January to December 2024. This figure represents a significant increase of 5.5% compared to the 7,942,254 overnight stays in 2023, which had already been a historic year for the region. It is important to highlight that this growth exceeds the national average, which was 4.0%.”
For Anabela Freitas, vice president of Turismo Centro de Portugal, these results reflect the strengthening of the region as a leading destination: “The data now revealed confirm that the brand and the destination Central Portugal are increasingly consolidated in the national tourism landscape. “For the first time, the region surpassed the 8 million overnight stays mark, approaching 8.5 million, and will exceed the 500 million euros revenue barrier. This significant growth shows that our region can, year after year, continue to attract visitors at a pace above the national average and retain those who choose us,” she added.
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7. Portuguese Economy Grows 1.9% in 2024, Exceeding Government’s Target
The Portuguese economy grew by 1.9% in 2024, slightly exceeding the government’s target of 1.8% and the expectations of economists. According to the National Statistics Institute (INE), the growth accelerated in the fourth quarter, reaching 2.7% year-on-year and 1.5% quarter-on-quarter. This performance, slightly above the Ministry of Finance’s forecast, was also in line with the International Monetary Fund’s (IMF) projection.
Domestic demand played a significant role in the growth, with “the acceleration of final consumption expenditure,” while investment slowed. On the other hand, net external demand made a negative contribution, as imports of goods and services increased at a higher rate than exports. Despite this, private consumption and the reduction in investment led to a stronger performance in the final quarter, surpassing economists’ expectations.
On the social media platform X, Prime Minister Luís Montenegro emphasized that “the financial stability we have consolidated, the political stability we have achieved, and the trust we hold are the conditions to drive a virtuous cycle of investment and wealth creation.” Note that the year-on-year growth accelerated in the final quarter, with a positive contribution from domestic demand, despite a decrease in investment. Additionally, imports of goods and services dropped, leading to a positive contribution from net external demand after two consecutive negative quarters.
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8. Bank of Portugal and Portuguese Court of Auditors Leave X
The Bank of Portugal announced it will “discontinue” its publications on X, keeping the account “as an archive” while remaining active on LinkedIn, Instagram, and YouTube. In addition, the Bank has joined Bluesky, a competitor to X, stating “new platform, new connections” and signaling the shift towards “staying closer” to the public. Moreover, the Portuguese Court of Auditors also revealed its decision to abandon both X and Facebook, citing “violations of national and European Union laws,” particularly related to data protection and consumer rights, marking a significant step in rejecting platforms that fail to comply with regulations.
According to the Court, X’s end of content verification and the proliferation of misinformation led to an environment where “discriminatory content” was being legitimized, directly violating EU laws. This decision reflects a broader dissatisfaction with platforms that “disregard the European Union legal framework,” resulting in a shift to official channels for communication. The move further signals a growing concern over platforms that facilitate “hate speech” and “misinformation,” prompting institutions to reconsider their digital strategies.
It is important to consider that the trend of leaving X extends beyond institutions, with user deactivations also spiking. Following the U.S. elections, over 280,000 accounts were deactivated globally, with 115,000 of those in the U.S. alone. The increase in departures from X is benefiting competitors like Threads, which reported a significant “growth in users,” rising by 35 million in a short span, highlighting a shift towards more preferred platforms amidst the growing dissatisfaction with Musk’s.
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9. Some Portuguese Figures Think Trump Might Have Been The Best Thing That Could Have Happened to Europe
Pedro Santa Clara, founder of School 42, believes Donald Trump “is the best thing that could have happened to Europe,” highlighting Europe’s decline over the past 25 years, losing its technological edge. He emphasizes that Trump’s policies will boost U.S. competitiveness, while Europe, lacking competition, has become “a kind of museum.” The continent needs a “wake-up call,” as it struggles to maintain its economic position.
António Nogueira Leite, president of MAPFRE, echoes Santa Clara’s view, pointing out Europe’s “arrogance” and comparing it to the “greater democratization” of the U.S. He underscores Europe’s growth problem and its inability to attract and create value in various sectors, particularly in business.
Cristina Fonseca, general partner at Indico Capital Partners, adds that Europe’s approach to creating large companies, especially in technology, is ineffective. She notes that the continent discusses problems but fails to invest enough to increase its competitiveness, leaving it behind in global value creation. Maybe this new context can change that.
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10. Revolut And Its Goal of Opening a Branch in Portugal
Revolut maintains its goal of opening a branch in Portugal and obtaining a national IBAN, aiming for two million users by the end of the year. The project, initially announced last year, has experienced slight delays but is on track for 2025. The company also plans to launch a deposit account with a Portuguese IBAN after the branch is operational. With the goal of becoming customers’ “main account,” Revolut intends to expand beyond its travel segment into areas like mortgage lending, beginning in Lithuania and potentially moving to Ireland.
The company has already launched personal credit and aims to introduce credit cards this year. Revolut’s expansion strategy includes targeting more mature markets before moving to other countries like Portugal. Despite its growth, which saw a rise to 1.6 million customers in Portugal, the company aims to reach two million users in the near future. Revolut continues to hire, employing 1,300 people in Portugal and around 10,000 globally, highlighting the Portuguese market as an attractive hub for talent.
Rúben Germano, General Director of Revolut in Portugal, emphasized that the rising competition in Portugal’s fintech sector benefits everyone, pushing companies to be quicker and more demanding. As Revolut moves closer to traditional banking, it focuses on being direct competition for established banks, without plans to open physical branches. Instead, the company is testing ATM machines in Spain and has installed card vending machines at Porto Airport as part of its strategy to expand services.
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