Tuesday, 06 December 2016
A- A A+

The prompt resignation of the Italian prime minister has been put on hold temporarily by Italy’s president.

Matteo Renzi has agreed to stay in post at least until the Italian senate passes the country’s budget for 2017.

novobancoshinylogoThe Bank of Portugal can delay no longer and is to announce the name of the new owner of Novo Banco before the Christmas holiday break.

Only when the Bank of Portugal governor makes the call will the government be able to assess the massive losses incurred in this botched ‘rescue.’

sonaeSonae Group, owner of the Continente supermarket chain and other retail brands, has bought 51% of the organic food business Go Natural, leaving founders Joana and Diogo Martorell with 49%.

The plan is to open six Go Natural organic food supermarkets by the end of 2017 with Sonae MC, part of the Sonae group, opening the first Go Natural supermarket in Lisbon tomorrow December 6th with a 350 m2 outlet creating 18 jobs.

rebelodesousaDemocracy only lives if it is economically sustainable, according to Portugal's President, Marcelo Rebelo de Sousa.

The president argued that the country needs examples of wealth creation, as he spoke during a ceremony in Castelo Branco honouring Hélder Rafael, founder of the clothing company Dielmar.

airbnb2Holiday rental company Airbnb has agreed to work with London and Amsterdam to enforce the cities’ regulations on lettings.

In a clear change of policy, the company said its website will police the limits each city has imposed on the number of days per year that property can be let.

fome5Portugal’s Food Bank warehouse volunteers now are busy sorting and starting to distribute an influx of 2,129 tons of food donated by shoppers in a nationwide campaign last weekend.

The total tonnage collected from generous shoppers was an increase on the May 2016 collection of 1,921 tons and is only just behind the 2,270 collected in successful campaign last autumn.

The food will be distributed through 2,700 institutions to around 426,000 people who are known not to have enough to eat.

SumolLogoCoca-Cola in Portugal has been joined by Sumol + Compal in warning of significant prices increases in their soft drinks ranges due to the new ‘sugar tax.’

Parliament approved the Special Consumption Tax on November 25th for drinks with added sugar and other sweeteners as from February 2017. The tax will add between 8 cents and 16 cents per litre of sugary soft drinks.

smokingSpain is set to increase its taxes on alcohol and tobacco as well as imposing a new tax on sugary soft drinks.

The new albeit minority government finally in power is in a race to honour its pledges to Brussels to reduce its deficit and its debt.