When Santander Totta bought Banif at the very end of December 2015, it was worth €600 million, somewhat more than the €150 million purchase price.
Banif’s package of assets and liabilities that the state sold to Santander Totta had a book value of €600 million at the time the deal was done - hence the price paid was at a whopping 75% discount, according to a report in Jornal de Negócios today.
Spain’s economy ended the year with a grand finale result of an enviable 3.2% growth in 2015, according to official statistics.
It was the second consecutive year of growth.
Portugal's Public Ministry finally has charged six defendants, including four former directors Banco Privado Português (BPP), of qualified tax fraud, abuse of trust and money laundering, crimes allegedly committed between 2003 and 2008.
According to the District Attorney General for Lisbon, the case which started in 2009 involves Joã Rendeiro (the bank’s former president) and former directors Paul Guichard, Salvador Fezas Vital and Fernando Lima, among others.
British expat Nigel Jackson today was found guilty of murdering Brenda Davidson, 72, at their home in Alcalar, Portimão, and of burying her body in the garden in November 2014.
Jackson had been charged with murder, desecration of a body, larceny, IT and telecoms fraud and two counts of misusing Davidson's bank card.
The Riverside Park in Faro will soon be maintained and cleaned by a private company under a contract for services concluded last Saturday between the municipality and Elogioverde - Construção e Manutenção de Jardins, Lda.
This contract was needed as the warranty in place from the company that built the park, Polis Litoral Ria Formosa, had ended.
An EU minister has warned that it may review VAT across the bloc which could call into question Britain’s use of “zero rate” on specific items such as food, medicine and children’s clothing.
The Commission plans to present measures later in spring to overhaul the VAT system.
Only half of the 1,395 investigations for crimes against pets have been completed and only three ended in convictions and fines.
The new animal protection law came into force in October 2014 and last year investigations were opened for 1,395 alleged cases of mistreatment of ‘companion animals.’
The government is expected to make a few long-overdue changes at the top of Caixa Geral de Depósitos with the president of the bank the first out the door.
José de Matos, the current president of the state owned bank should be followed swiftly by Nuno Fernandes Thomaz, his number two.
