Growth

Metro Mondego Surpasses Expectations With One Million Validations, Government Plans Regional Expansion

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Metro Mondego, the electric metrobus system serving Coimbra, Lousã, and Miranda do Corvo, reached one million validations since transitioning to a paid system. Demand exceeded expectations by 20%, with April validations up 57.4% from January. The Portuguese Government announced plans to expand the system to serve additional municipalities including Cantanhede and Condeixa-a-Nova, with integration planned around the upcoming high-speed rail station.

European Commission Selects EQT to Manage €5bn Scaleup Europe Fund for Deeptech Innovation

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The European Commission selected Swedish investment firm EQT to manage its new €5bn Scaleup Europe Fund focused on European deeptech startups. EQT won the mandate over finalists Atomico and other competitors. Around €2.5bn has been committed as of year-end, with €1bn from the EIC and €1.5bn from private limited partners including Novo Holdings, CriteriaCaixa, Santander/Mouro Capital, APG Asset Management, and the Wallenberg family.

Ikea to Cut 850 Jobs Globally as Furniture Giant Seeks Organizational Simplification

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Inter Ikea Group announced 850 job eliminations globally (300 in Sweden) to reduce complexity and costs. The reorganization aims to improve decision-making speed and reduce prices for customers. In Portugal, Ikea is undergoing gradual structural updates with individual transition plans for affected employees. The company reported a 32% drop in net profit to 1.5 billion euros in fiscal year 2024/25.

Spanish genomics startup BioGenómika wins EmprendeXXI Awards for innovation potential in Extremadura

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BioGenómika, certified as an emerging company by Enisa, has won the EmprendeXXI Awards recognizing it as the innovative company with the greatest potential and impact in Extremadura. The awards are promoted by Enisa through the Ministry of Industry and Tourism, and CaixaBank through DayOne, its division specialized in technology companies.

Rubik Hub Marks 9 Years With Major Networking Event Celebrating 600+ Supported Startups

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Rubik Hub, a startup accelerator based in Iași, Romania, is hosting a 9-year anniversary networking event on May 26, 2024. The event features pitch sessions from alumni startups, investor presentations, and panel discussions on investments and local-global ecosystems. The hub has supported over 600 European startups that have collectively raised over 75 million EUR, and was recently recognized as Europe’s top accelerator by Financial Times for the second consecutive year and won the Global Startup Awards for best coworking space globally.

Ryanair Reports Record €2.26 Billion Net Profit as Fuel Hedging Strategy Shields Against Market Volatility

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Ryanair announced record net profits of €2.26 billion for fiscal year 2026 (ending March 31), a 40% increase driven by reduced expenses and higher revenues from passenger growth and fares. The airline projects stable ticket prices during peak summer months and increasing confidence in jet fuel supply despite Middle East tensions. The company’s conservative fuel hedging strategy (80% of FY2027 fuel hedged at $67/barrel) protects margins as spot prices exceed $150/barrel. CEO Michael O’Leary’s contract extension negotiations through 2032 are nearing completion.

Swedish Indie Studio Odd Dreams Digital Sells 200,000 Copies of Debut Game in Three Days

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Odd Dreams Digital, a Malmö-based indie game studio founded in 2022, achieved remarkable success with the launch of its debut game ‘Everything is Crab’, an animal evolution roguelite action game. The game sold over 200,000 copies in three days and received strong critical acclaim on Steam. The studio, led by CEO Denis Asensio with team members from AAA studios including Cyberpunk 2077 and Star Wars Outlaws, participated in the Haven game support program before launch.

Flip.ro Partners With iSTYLE to Launch Device Buyback Program Across Romania

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Flip.ro, a Romanian platform that refurbishes phones, tablets, laptops and gadgets, has partnered with iSTYLE, an Apple Premium Reseller chain, to launch a buyback program. Customers can trade in old devices in iSTYLE physical stores or online, receive instant evaluation, and complete their purchase of new products. The old device is then sent to Flip for verification, with payment made within 1-3 business days. The partnership launched in physical stores in May 2025 and online from May 2026.

Klarna Reaches Profitability Milestone as Swedish Fintech Scales to 119 Million Users

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Klarna, the Swedish fintech company, announced significant growth metrics including a 49% increase in connected merchants to over 1 million and a 21% growth in users to 119 million. The company processed $33.7 billion in payment volume (up 33%) and achieved its first profitable quarter with $1 billion in revenue and $1 million net profit. Klarna is expanding US market presence through partnerships with Stripe, Nexi, JPMorgan Payments, and Worldpay.

TAP Air Portugal Divests Handling Services Stake to Menzies Aviation in Strategic Restructuring Move

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Sérvulo & Associados advised TAP on the sale of its 49.9% stake in SPdH (Portuguese Handling Services) to Menzies Aviation Portugal. The transaction was contracted on April 28, 2026, subject to fulfillment of applicable conditions. This divestment allows TAP to focus on its core aviation business in compliance with the European Commission’s approval of TAP Group’s restructuring plan.