Thursday, 25 May 2017
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salgados aerialAs the silence from MillenniumBCP's property consultancty CBRE becomes deafening, the 'for sale' Salgados 'Praia Grande Eco-Resort' development is receiving wide publicity as the Algarve roars into life to oppose the destruction of this countryside and wildlife area of extraordinary importance.

Almargem, so often the lone voice in opposition to thoughtless and inappropriate tourist developments, came out with a statement this week and plans to have the green area between Galé and Armação de Pêra protected as a site of special interest, click HERE

caixageral2Former Health Minister and current president of Caixa Geral de Depósitos, Paulo Macedo, is fed up with politicians.

Announcing a quarterly net loss for the bank of €38.6 million, while explaining this away by noting €58 million in non-recurring items such as staff pay-offs and comfy early retirement packages, Paulo Macedo used today’s press conference to complain that politicians keep trying to drag Caixa Geral into the political arena.

HashishBales333The National Unit to Combat Trafficking in Drugs, with full air and sea support from Portugal’s armed forces, has intercepted a fishing boat in the Mediterranean near the Straits of Gibraltar, with 10 tonnes of hashish on board.

The drug, packed in 333 bales, had been loaded aboard in north Africa but was intercepted and seized, later being transported to the Naval support area in Portimão harbour.

farocamaraFaro council, in a pre-election spate of continuing good news, has paid off its State loan from the Financial Rebalancing Plan and is to embark on a spending spree of titanic proportion.

The final payment, €4.94 million, has been made and Faro's mayor, Rogério Bacalhau, has lost no time in announcing his spending plans.

AlvorNighttimeThe price of houses in Portugal has started to cause concern in the sleepy corridors of Brussels as the average value of property rose 7.1% last year. This was really a 6% increase as general inflation was 1.1%.

The ever-meddlesome European Commission has concluded that this increase has reached the acceptable limit and now it has to start worrying about ‘imbalances in the economy.’

ptAltice faces a fine of up to 10% of its worldwide turnover if the European Commission (EC) upholds allegations the company took control of fixed and mobile phone operator PT Portugal before being given clearance.

In a ‘Statement of Objections’ sent to Altice, the EC has accused the company of breaking mergers and acquisitions rules by pressing ahead in January 2015, before being given clearance to proceed.

refugeeraftA new study by the Francisco Manuel dos Santos Foundation has concluded that the country needs a positive migratory balance in order to maintain the working population and keep it paying into the social security fund which, in turn, will be paying pensions to an increasing number of retirees.

The study ‘Migration and Demographic Sustainability’ was coordinated by João Peixoto, Daniela Craveiro, Jorge Malheiros and Isabel Tiago de Oliveira and represents the first joined-up thinking on impacts across various interrelated sectors of demographics, economics, employment and social security receipts.

galpLogoIn a report in Correio da Manhã, posted early this morning on the news service's website, Galp Energia is reported to have announced that it no longer is going to drill an exploratory hole in the search for oil and gas off the Costa Vincentian, about 50 kilometers from Aljezur on Portugal's south west coast.

The drilling licence deadline expires at the end of May and an ‘official source’ at the oil company assured the national newspaper that no drilling is planned before the end of this month.