José Maria Ricciardi has left Haitong Bank with its Chinese owners preparing to announce several more top level changes. The news of Ricciardi's exit was communicated on Friday 9th December to the Comissão de Mercado de Valores Mobiliários (CMVM).

Haitong Bank already had given signs that it intended to present a new management team to the regulator by the end of this year but the reasons behind Ricciardi’s abrupt departure are not yet known, nor is it known whether he is leaving of his own volition.

Although I am not a magician I may say I have about 40 years of solid experience in this kind of marketing topic and on top of this, I hace acquired  a practical knowledge during my 15 years' experience in the daily field of the short term holiday renting = Alojamento Local, writes algarvedailynews.com reader, 'Charly'.

For the sake of Portugal and for the health of the tourist business I am pleading to stop the shameless political charade and to give a quick, a good and a logic solution to the problem.

Caixa Geral de Depóitos soon will have its new management team under CEO and the hope is that things will settle down at the State owned bank. A green light has been signaled by Brussels that the first phase of the major recapitalisation process can start.

The European Central Bank and the Bank of Portugal both have agreed that Caixa can now reduce its capital to cover losses, to be followed by a huge capital increase next year.

Another tourism first for the Algarve - registered methadone users from abroad will be able to pick up supplies while on holiday in the region.

The drug is used to treat many addicts to reduce withdrawal symptoms and will be made available through the Algarve's regional health service which aims to reduce the risks associated with carrying the drug through the region’s entry points and to provide a safe way of continuing treatment for addicts on holiday.

The Ferragudo lifeboat crew has been called out to rescue an 18-year-old swimmer who clearly was losing his struggle to stay afloat.

The man was spotted in the sea off Caneiros, Lagoa, near the cliff and the alert was raised.

Spanish police destroyed two criminal gangs in the last week, one of which preyed specifically on visitors to the country.

Tourists in Barcelona were left open to being conned by a band of criminals who were posing as police officers.  A similar type of operation was being run in Madrid.

A German government minister has said that his government has pledged to provide €150 million to help migrants return home.

The aid funds will be available to both those whose asylum applications have been rejected as well as those who return voluntarily to their home countries.  It is targeted primarily as people from Iraq, Afghanistan and from Balkan countries.

A group of cycling devotees have set themselves a Herculean task as they aim to travel the length of Portugal’s longest road, the 738 kilometre EN2, in just 80 hours.

The cyclists set off on Thursday morning, December 8th,  from Chaves in Portugal’s distant northern territory and aim to be in the safety of Faro by Sunday night

The trip, called Vadiagem Voadora, (Flying Voyage), is not a race but those that finish certainly will have enjoyed themselves, according to organiser Diogo Tavares.