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    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
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    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Headlines

    Posted By Global Banking and Finance Review

    Posted on May 28, 2025

    Featured image for article about Headlines

    LISBON (Reuters) -Portugal's far-right, anti-establishment party Chega overtook the centre-left Socialists to become the main opposition party for the first time on Wednesday after the final tally of ballots from abroad in a May 18 snap parliamentary election.

    The centre-right Democratic Alliance of Prime Minister Luis Montenegro won 91 seats in the 230-seat single-chamber parliament, including two from out-of-country voting. While it garnered more seats than in 2024, it again fell short of a majority needed to end a long period of instability.

    On the election night, the Socialist Party (PS) emerged slightly ahead of Chega in terms of the share of the vote but with the same 58 seats. The final tally, published by the Interior Ministry on Wednesday, took Chega's parliamentary representation to 60 while the PS was left with 58.

    Founded just six years ago, Chega, thus ended five decades of dominance by Portugal's two mainstream parties after the end of a fascist dictatorship in 1974, chiming with similar advances for the hard right across Europe.

    Chega has allied with anti-immigration parties, such as Marine le Pen's National Rally in France and Germany's AfD.

    It has long campaigned accusing the country's political establishment of perpetuating corruption, while also calling for an end to "open doors" immigration and tougher sentences for criminals, including chemical castration for repeat rapists.

    Montenegro has refused to make deals with Chega and said he would form a new minority government.

    President Marcelo Rebelo de Sousa will meet the leaders of the three main parties on Thursday and is then widely expected to name Montenegro as the prime minister.

    (Reporting by Andrei Khalip, edititing by Sergio Goncalves and David Latona)

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