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Portugal praised for early IMF loan repayment

imfEurogroup agrees that Portugal can pay the IMF earlier, saying that the move is a sign of "significant progress."

The President of the Eurogroup, Jeroen Dijsselbloem, announced today that the Eurogroup is in favour of the Portuguese proposal to pay some Troika loans earlier, specifically around €14 billion of the €27.38 billion that Portugal owes the IMF.

Small traders want plastic bag tax postponement

4765Small companies have asked for a postponement of the deadline for the Green Tax on lightweight plastic bags.

The Trade and Services Associations Union (UACS) requested the postponement of the transition period for the application of the 10 cents per plastic bag Green Tax which came into force on Sunday.

Amazon drone delivery plans in tatters

amazondroneAmazon’s plans for home delivery by drone have been scuppered in the US by the Federal Aviation Authority.

New regulations from the FAA will make it impossible for any company to harness drone power as delivery vehicles.

Chinese to turn Royal Albert Dock into finance HQ

albertdocksA Chinese investment company is to put money into a project to transform London’s Royal Albert Dock into a business and finance centre to rival the City of London and Canary Wharf.

China’s largest private investment firm, Minsheng, is to invest £1bn in the Docklands project, one of the largest Chinese investments in the UK in recent times.

Briton's death at Arade dam was 'accidental'

aradedamThe sad case of the British holidaymaker who died of her injuries after falling down a well at the Arade dam near Silves has been recorded as ‘accidental death.’

Andrew Haigh, the senior coroner for Staffordshire South, UK, commented that the precise sequence of events last June was difficult to confirm and concluded that the death of Christine Whitehouse was a ‘genuine tragic accident.’

Loulé receives €200,000 lightbulb grant - Olhão's Berlin Wall to be challenged in court

OLHAOCROSSINGREOPENEDLoulé council is replacing the city's lightbulbs with LED technology to save on energy consumption.

The council has contracted for the supply and installation of fixtures with LED lighting in all of its public lighting infrastructure so as to reduce its electricity bill as part of the city's environmental policy.

Bank of Portugal 'distorts the reality' of BES bondholders' rights

bop3The lawyer Miguel Reis who now is representing many BES investors, claims that the Bank of Portugal has grossly 'distorted reality' and that the information provided by the central bank on Friday is simply a whitewashing excercise.

On Friday, the Bank of Portugal issued a statement after a meeting with some holders of Espírito Santo Group (GES) bonds in which it reaffirmed that Novo Banco does not have to compensate customers who bought investments in branches of BES, and that a solution will only be found if it does not cost Novo Banco any money.

Italy is “dying”

baby2012The number of babies being born in Italy has plummeted to the lowest level since the modern Italian state was formed in 1861.

This prompted the health minister to say that Italy is “a dying country”.