Thursday, 30 March 2017
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gavelThe former Deputy Mayor of Monchique council has lost his appeal against a conviction for embezzlement and falsification of documents, he now must pay back €500,000.

The council was certain that António Mira’s appeal in Évora would fail and already has budgeted for the return of the stolen funds in this year’s municipal accounts.

marioCenteno1Brussels is not at all happy with the government’s proposed sale conditions for Novo Banco which sees the taxpayer retaining 25% of the bank’s shares.

The Finance Minister, Mário Centeno, (pictured) says there has been no formal decision from the European Central Bank about the Portuguese State hanging on to a quarter share in the loss-making bank, but insists that "there are conditions for an agreement."

NOSCommunications regulator Anacom has ruled that telecom operators must take remedial measures as they have been increasing service prices without notifying customers who, if they did not agree to rate changes, could terminate their contracts without penalty.

According to Público, the operators targeted by Anacom's decision of March 17th are Meo, Nos, Vodafone and Nowo, which used to be called Cabovisão.

oceanUnderstanding that there are “TWO” “Blue Economy” Conceptual Frameworks, a review of Portugal's Blue Economy by Laurinda Seabra of ASMAA

Currently there’s plenty of hype about the “Blue Economy”, but for the majority of the people that hears it being branded left, right and center by government officials, some NGO’s, Think Tanks, academics and many so called experts … the fact remains that the majority of the people haven’t a clue of what it means.

HotelMonteGordoMeliaA new 5-star unit planned by the Spanish group, Meliá Hotels International, for Monte Gordo in the eastern Algarve awaits the green light from the Portuguese Environment Agency before building can start.

The 'Meliá de Monte Gordo' will have 170 rooms and will overlook the beach at the western end of the town where the tennis courts currently are located.

fatimaTwo of the three shepherd children who claimed to have witnessed apparitions of the Virgin Mary in Portugal in 1917 are likely to be canonised as saints by Pope Francis during his pilgrimage to Fátima in May, though the timing has yet to be confirmed by the Vatican.

The canonisation is now much anticipated following Pope Francis’ official recognition of the so-called ‘Miracle of the Sun’ witnessed by Jacinta and Francisco Marto, cousins of the eldest seer, Lúcia Santos.

portugalFollowing her widely read article, 'Become a Portuguese citizen AND keep your British passport,' Sue Fletcher offers help and advice to those deciding to follow the rules in Portugal and apply for residency, thus avoiding a fine of between €400 and €1,500.

Sue Fletcher writes: "Many of us arrive in Portugal and never bother to take out any form of residency in the firm belief that we aren’t required to do so under the EU freedom of movement rules.

caixageral2Caixa Geral de Depósitos has managed to persuade international investors to buy €500 million of debt as part of Caixa’s recapitalisation process, but at high price with the bank undertaking to pay a whopping 10.75% interest rate.

With the prospect of such a high rate dangled in front of investors’ noses, even the warnings circulating around the market from Goldman Sachs to avoid the debt issue were not enough to stop the issue being oversubscribed.