Caimão, a dredger owned by Sofareia, sank on Wednesday afternoon at 5:00 p.m. in the channel at the Faro Olhão entrance to the Ria Formosa in the Olhão council area.
The vessel was being towed and had one crew member on board, who was rescued by the Maritime Police.
An Algarve made, solar powered catamaran, is oficially to be launched on June 15th at the Vilamoura Boat Show which runs from June 8 to 16 at Vilamoura Marina.
The Cat 12.0, has been already been undergoing trials near the company's premises in Olhão, and represents "a new concept and innovation for Sun Concept's solar-powered construction because it has different characteristics from the previously produced Sunsailer," explained João Bastos, the company's commercial director.
The tightening of profit margins, due to strong competition, may lead to a worsening of bad credit, the Bank of Portugal has warned.
'It's déjà vu all over again' for the banking regulator as, just as before the last financial crisis, banks are lowering profit margins to attract more customers.
A report from the Bank of Portugal , led by the ever-alert Carlos Costa (pictured), calculates the amount of public funds injected into the banking system in the last 12 years at €23.8 billion.
The public aid to banks includes both public and private banks with State-owned Caixa Geral de Depósitos (CGD) adsorbing the most, a fifth of which already has been repaid.
Portugal’s Institute of Nature Conservation and Forests (ICNF) has confirmed that at least ten Iberian lynx pups have been born to three females resident in the Guadiana Valley.
"The Iberian lynx population of the Guadiana Valley continues to increase and, after the current release season has ended, it is time to detect those cubs born in 2019. It is anticipated that 12 females may have reproduced," the institute’s statement reads.
Drivers in Spain are celebrating the end of toll systems on many major roads.
The AP-1 has been the first toll road in Spain to have its barriers lifted and will be followed by the AP-7 and AP-4 by the end of the year.
Scotland Yard has been granted a further £300,000 to fund Madeline McCann detectives’ costs for another year.
A Home Office spokesman commented, "All applications for Special Grant funding are considered carefully on their individual merits, however, decisions are made in batches to allow us to better consider the impact on the overall policing budget.
The 19 relatives and heirs of those who died when the EM255 road in Borba collapsed intotwo quarries, all of whom had demanded damages from the taxpayer, have accepted an amount proposed by Maria Lúcia Amaral - a total of €1.6 million.
A source from the Ombudsman's Office, said that "all 19 applicants," who are family members and heirs of the five victims of the accident in November 2018, "accepted the compensation proposals" presented by Amaral, the head of the independent State body that defends citizens' rights.
