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Low rate EDP charges now apply to over 29,000 Algarve households

edpThe 2010 legislation enabling EDP electricity customers on low incomes to access the ‘social tariff’ cheap rate at last has seen some results.

EDP failed adequately to advertise the low rate deal, ending up with a €7.5 million fine from the regulator which has been challenged by the EDP boss, António Mexia and remains unpaid.

Lidl Portugal sells only 'sustainable origin' cod

lidlLidl Portugal has become the first supermarket operating in Portugal that stocks only ‘sustainable origin’ cod carrying the Marine Stewardship Council stamp of approval.

Portugal remains cod-crazy with the fish accounting for 20% of the total consumed in the country, a large percentage of annual sales occurring in the run-up to Christmas, around 25,000 tonnes.

Current IMF boss in the dock over fiscal negligence

imfThe trial opened on Monday of the leader of the International Monetary Fund, Christine Lagarde.

She is accused of negligence over a payment of €400 million to a French business tycoon when she was France’s finance minister (2007-2011).

Dramatic rail link opens underneath the Alps

tgvThe longest rail tunnel anywhere in the world has begun regular service in Switzerland.

It took 17 years to build the 35 mile stretch under the Swiss Alps, racked up costs of more than 12 billion Swiss francs (€11.2 billion) but provided the first flat route through the Alps.

IMF warns: Portugal's property market is returning to pre-crisis price levels

apartmentsPortugal has entered 'boom and bust' territory as the sharp declines in property prices triggered by the 2008 economic crisis have been replaced with significant increases.

The IMF economists stress that it is not yet time to panic, but to keep an eye on property price levels with Portugal recording the 15th highest annual increase among more than 60 countries analysed.

Portugal number five in E&Y corruption survey

eurozoneThe latest Ernst & Young survey on corruption placed Portugal in fifth place behind Croatia, Kenya, Slovenia and Serbia, India and the Ukraine.

The survey interviewed 3,800 workers in 38 countries and showed that 83% interviewed in Portugal agreed that bribery in the country was widespread, unchanged from the 2015 result despite many high-profile cases hitting the headline this year.

Expat future in EU to be given “fast-track” in separation talks

passportA special deal for expats is being fast-tracked to the Brexit negotiating table, bypassing other steps which could take years to decide.

Guy Verhofstadt, the European Parliament’s chief negotiator, has confirmed that people from the UK will be given the chance on an individual basis to opt-in and remain EU citizens.

Strike action at Lufthansa dents profits

lufthansaThe latest strike by pilots at Germany’s Lufthansa airline has cost the company €100 million, according to the company.

The action in November lasted six days and caused major disruption for hundreds of thousands of would-be passengers.