Thursday, 19 October 2017
A- A A+

vultureThe European Commission remains cagey about how much Portugal’s taxpayers might have to inject into Novo Banco after it is transferred to Lone Star's vehicle, the unamusingly named Nani Holdings, but admits that ‘in adverse circumstances’ this is exactly what will happen.

Far from a clean deal to offload the loss making 'bridge bank' to a new owner, Portugal’s hard-pressed taxpayers again will be expected to bolster Novo Banco’s capital to cover losses if an economic downturn affects the bank that was created when BES went under in August 2014.

cancercheatThe Public Prosecutor's Office said today that due to press coverage, it had ordered an investigation into a woman living in the Algarve who has been collecting donations over several years, allegedly for her cancer treatment.
The investigation aims to assess whether 32-year-old Daniela Costa has been fundraising illegally, pretending she was ill when in fact she was not.

faroDockRebuildDocapesca has resumed work on fixing the crumbling harbour wall in Faro in a €93,000 project that now is expected to take until at least January 2018.

The first phase was to repair a crack in the support wall, which was completed on June 30th after the council threatened hell and high water if the company did not make an effort in repairing what rapidly was turning into a dangerous eyesore.

BoPCostaAsleepThe governor of the Bank of Portugal has warned Portuguese-speaking central banks to monitor the parent companies of banks operating in their countries, because a problem in Europe could bankrupt those subsidiaries, even those with healthy finances.

Carlos Costa was speaking at the 27th meeting between central banks from Lusophone countries and covered the EU rules for banks in trouble that could easily affect their overseas operations.

BlIp2017cOn the opening day of BLiP Expo at the Portimão Arena, local mayor Isilda Gomes, visited the show and was delighted to visit the Bombeiros stand to witness the handover of the first mobile defibrillator of Operation Shock. This initiative is a collaboration between afpop, the exhibition organiser and largest association for expatriates in Portugal, and the Federation of the Fire Services of the Algarve.

The aim of Operation Shock is to provide this lifesaving defibrillator equipment for the region’s first response teams in each Bombeiros area, of which there are 17.

At the moment only the yellow INEM emergency vehicles are automatically equipped with defibrillators, meaning that if one of the red Bombeiros ambulances is despatched to an incident and the patient suffers cardiac arrest at the scene or during transport to the hospital, manual CPR is the only option for the attending nurse.

carvoeirobeachThe decision to remove the old casino in Carvoeiro was taken by Lagoa council which has awarded the demolition contract to Protectrilho, Lda., at a cost of €83,950.

As this ruin is privately owned and is close to collapse, the council demanded that the owner have the structure knocked down and the site cleared.

5223Amendments to the Aliens Act, has opened the door to those foreigners convicted of violent crimes to receive a residence visa on “humanitarian grounds.”

The Aliens and Borders Service (SEF) has strongly opposed these amendments that can thwart the normal expulsion of convicted foreign criminals.

SagresBirdFest2017The Bird Watching & Nature Festival in Sagres welcomed a record number of visitors in its 8th year, with the organisers delighted that so many people are attracted to the far western Algarve.

A recorded 2,150 visitors came to the Sagres area to participate in the event, 1,000 more than last year and enjoyed five days full of activities at São Vicente, Fort Beliche, the Sagres Fortress and Cabranosa.