Monday, 24 October 2016
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Newly built houses in the UK have been found to be the smallest in Europe.

A newbuild in the UK measures an average of 76m2 whereas in Italy the space allocated in 81m2. The Japanese, perhaps surprisingly, enjoy 95m2 while the Chinese are condensed into 60m2.

russianAircraftCarrierPortugal’s defence minister, José Azeredo Lopes, today tried to play down the presence of ships from Russia’s Northern and Baltic fleets off the Portuguese coast even though the assembly includes a nuclear submarine and an aircraft carrier destined to participate in air operations in Syria.

"I have, and no else to my knowledge has, any evidence to conclude that this is a particularly serious situation. It can be treated as a form of naval demonstration like we have seen in the past," said the minister as the Russian ships sailed through Portugal’s exclusive economic zone 200 nautical miles off the Portuguese coast.

MinisterCentenoFinanceThe Canadian ratings agency DBRS has kept Portugal’s financial system on life support by maintaining its rating at one point over ‘junk’ status at 'BBB(Low) Stable', to the relief of the socialist government and Portugal’s international creditors.

The rating with a “stable” outlook was enough to keep Portugal out of trouble and safely in the European Central Bank’s bond buying programme, despite the country’s soaring borrowings and a lack of any real effort over reforms, relying instead on tax increases.  

novobancoshinylogoThe sale process for Novo Banco is dragging on with the bidders for the loss-making business now having until November 4th to submit their absolutely final offers.

Novo Banco was created in 2014 as part of the Banco Espírito Santo ‘rescue’ package that saw the Resolution Fund and the taxpayer contribute €5 billion to save the bank that had been brought to its knees under Ricardo Salgado's particular brand of management.

airplane2The number of Italians coming to the Algarve is rising, especially in the seaside town of Olhão where already 200 Italian immigrants are living, according to a report in Dinheiro Vivo.

Choosing Portugal to avoid countries such as Tunisia and Bulgaria, where many Italians have moved in recent years, those forming the Algarve's new wave are as much escaping the invisible threat of terrorist attack as the very real threat of taxation which in Italy and France has caused many to move from their homelands in search of a happier retirement.

EvoraHotelThe Vila Galé Hotel Group is to invest around €5 million to transform a derelict convent in Elvas into a hotel.

The former convent of São Paulo, in the city centre, will open as a hotel in 2018 and an expected 25 to 30 jobs will be created as a result.

benidormSpain has begun to evaluate the impact that whirlwind tourism is having on the country.

Fate conspired to deliver a bountiful year, the best tourist season in 15 years, with visitors seeking not only sun and sea but also safety from terror incidents.

windfarmWind power in Spain is sufficient to provide energy to nearly 30 million homes every day.

Last November a night time record was set of 70% of Spain’s electricity needs being met which followed a January 2015 day time record of 54%.