With indecent haste and the corpse of BES not yet cold, the Bank of Portugal has annoounced that it will decide the method of selling Novo Banco by the end of September.
Portugal’s central bank wants first to see which potential buyers are really interested in taking on the good part of the old BES and then it will announce the type of sale for what it still claims are the good bits held in Novo Banco.
"The fight against tax fraud can be decisive in reducing income tax." Without committing to lower income tax for 2015, the Secretary of State for Fiscal Affairs Paulo Nuncio said today that there had been a huge increase in the tax take this year as a result of his anti-fraud measures, which gives him a degree of flexibility.
The contribution to the exchequer from Nuncio’s clamp down on tax evasion and his pursuit of those engaged in the underground economy has meant record tax receipts which may be decisive in the decisions that the Government takes over income tax for 2015.
The Portuguese and Spanish authorities estimate that 1,300 kg of cocaine seized in the eastern Algarve had a street value of around €80 million if it had reached northern Europe.
Arrests took place as a result of a joint investigation by the Spanish and Portuguese police according to a delighted director of the Polícia Judiciária in Faro, Luís Mota Carmo, who said this was one of the largest seizures this year in Portugal, and indeed in Europe.
Owners of a significant part of the Algarve’s fishing fleet have threatened an all out strike against an ‘overnight decision’ by the authorities that all fish are sorted into species before sale.
Miguel Cardoso, the president of the Organisation of Algarve Fishermen (OLHÃOPESCA) said today that 50 fishing boats already have stopped work and will remain in harbour until Docapesca again allows the weighing and auctioning of mixed containers of fish.
A secondary pedestrian access to the new Faro Riverside Park which opened last weekend has been destroyed by the disgruntled owner the land who is determined that the public no longer has access.
The entrance at the western, Montenegro end of the 15 hectare park is on land that the council has failed to purchase and which now stands in the way of extending the walking and cycleway as far as Faro island.
“Severe, widespread and irreversible” damage will hit planet earth unless urgent action is taken to cut back on burning fossil fuels in order to limit global warming.
The warning comes from the Intergovernmental Panel on Climate Change, a United Nations body.
Henrique Granadeiro’s last shareholders meeting as president of the Portugal Telecom board was never going to easy.
Choosing the vital shareholders’ meeting as his farewell gig, Grandeiro left, visibly shaken and stirred, but the deal with Brazil’s Oi went through with a huge majority of PT shareholders voting for the merger.
Minister Jorge Moreira da Silva has agreed the headcount cuts in regional water company administrators which will take place before the year end as part of a cost reduction plan that puts meddling councils back in their place.
This measure presented to MPs during a parliamentary committee hearing is part of a cost cutting plan, one of the goals being a reduction of water bills for consumers, although few believe this last part.
