As the Isabel dos Santos’ camp issues statement denying any involvement in the race to buy British retailer BHS, a 'Portuguese-backed consortium' is said to be in pole position.
Matalan founder John Hargreaves and Select Fashions’ Cafer Mahiroglu have pulled out of the bidding after being asked to offer more money for the insolvent company.
News that will delight the Algarve's tourism industry, Britain has been found to have the highest proportion in the EU of “poor” bathing water sites.
The new rankings indicate water quality at thousands of beaches around the EU.
The Bank of Portugal’s latest report on the banking sector comes to the conclusion that the accumulation of bad debt in Portuguese banks is a risk to the stability of the financial sector.
The Bank of Portugal’s report points to the need for banks to reduce their bad debt and other non-performing assets in their portfolios, otherwise their profits will go down and their capital levels will be adversely affected.
British historian and academic Mary Beard has been honoured with one of Spain’s most prestigious award.
The Princess of Asturias award for social science recognised her “outstanding contribution to the study of the culture, politics and society of classical antiquity”.
The Pestana hotel group is working on a project to create a huge nature reserve bordering the Odelouca dam in Silves to offer customers using its coastal hotels the opportunity to the Algarve’s natural landscape, flora and fauna.
The plan is being developed with Silves and Monchique councils, the mayors from each being positive that this new style of natural tourism is timely and could help counter the current shift of people and activity away from rural areas.
Ryanair has crowed that it will see off its German rivals Air Berlin and Eurowings.
“Low costs are our philosophy. We’re the Aldi of air travel,” Michael O’Leary said. “I’m hoping for a price war.”
She’s done it: Portugal’s Justice Minister Frances Van Dunem has decided that 20 courts, closed by her often 'tired and emotional' predecessor Paula Teixeira da Cruz, are to be staffed and reopened early next year with a further 27 formerly downgraded courts reopened for smaller cases.
The minister said she was in talks with the ministry of finance over staffing levels but a January 2017 start date is the target with an additional budget of €500,000 a year.
Using the EU Merger Regulations, the European Commission finally has approved the acquisition of Açoreana Seguros by Apollo Global Management, of the US.
The American company is a private equity investor active in various industry sectors, has had to wait five months to get the green light and now can complete the Açoreana purchase.
