Tuesday, 21 February 2017
A- A A+

caixageral2Public money was used to pay the lawyers advising António Domingues, the short-lived president of Caixa Geral de Depósitos, as they worked on legal amendments to the laws applicable to the appointment of managers of State-controlled public companies.

Domingues was negotiating a vastly increased salary and bonus scheme as a condition of a grateful nation employing his services, but he also wanted an exemption from having to lodge his income and asset statements at the Court of Auditors, a normal requirement for any manager of a State-owned business.

novobancoshinylogoThe US vulture fund, Lone Star, now is in ‘exclusive negotiations’ with the Bank of Portugal to buy Novo Banco, is confident about the future of the loss-making business and optimistic about the Portuguese economy.

Olivier Brahin, chairman of Lone Star Europe, said he is committed to reaching an agreement with the Bank of Portugal to support Novo Banco in a way that will benefit "its customers, employees, creditors and the Portuguese economy in general."

8579The number of people taking advantage of Portugal’s various generous tax incentives has risen 44% in a year, including many retirees qualifying for zero tax on their incomes and young people applying for non-habitual resident status.

In just one year, the number of foreigners granted non-resident status increased from 7,414 in 2015 to 10,684 at the end of 2016.

tollsPortugal’s Communist Party lodged a petition on Monday for parliament to vote on abolishing the tolls on the Algarve’s Via do Infante motorway.

"There is clear evidence that the introduction of tolls on the Via do Infante five years ago was deeply detrimental to the interests of the Algarve, with very negative repercussions on the mobility of citizens and economic activity in the region, contributing to the increase in difficulties for companies, the destruction of employment and the rise in regional road accidents," reads the document.

6230Kate and Gerry McCann are embarking on a new legal battle seeking to overturn last month's court ruling that failed to clear them of being involved in their daughter Madeleine’s disappearance, as indicated in the book by Gonçalo Amaral (pictured).

The couple’s lawyer confirmed the McCanns are to challenge claims by the former police inspector, Goncalo Amaral, that they had somehow had faked Madeliene’s abduction from an apartment in Praia da Luz in May, 2008.

algarveshoppingThe ‘Portuguese Consumer Confidence Index’ covering the last quarter of 2016 rose to an “all time high” of 74 points, according to data released in the Nielsen Global Consumer Confidence.

“The level of national consumer confidence exceeded that recorded in Finland (68), France (66), Russia (63), Italy (58) and Greece (53).”
The European Union average was 81 points and the global average was 101 points.

besOn June 9, with his 150-year-old Portuguese corporate dynasty close to collapse, patriarch Ricardo Espirito Santo Salgado made a desperate attempt to save it.

Salgado signed two letters to Venezuela’s state oil company, which had bought $365 million in bonds from his family’s holding company. The holding company was in financial trouble. But the letters, according to copies seen by Reuters, assured the Venezuelans that their investment was safe.

carvoeirobeachGNR officers from Silves and Carvoeiro were called to a domestic violence incident at the sea-side holiday town on Sunday only to come across a mini-greenhouse constructed inside the property, full of healthy cannabis plants.

A full search of the property resulted in the discovery of the plants, cannabis seeds, dried and bagged cannabis ready to be sold, tools and fertliser to tend the crop and scales to weigh the resulting drug.