The latest partnership agreement between the European Commission and Portugal will see €26 billion in funds arriving in Lisbon between now and 2020 - “a barrel-load of money,” according to the president of the European Commission, José Manuel Barroso.
The agreement was signed today in São Bento, Lisbon with Barroso and Portugal's Prime Minister, Pedro Passos Coelho, beaming at the opportunity for Portugal to access investment funds of such a massive amount.
A sudden spurt in Spain’s economy over the last three months created the fastest growth since the end of 2007.
Economic growth for the last three months was 0.6%, ahead of the Bank of Spain's forecasts of around 0.5%.
Aircraft manufacturer Boeing believes that 500,000 new pilots will be needed over the course of the coming 20 years if international travel demand is to be met.
Boeing says nearly 27,000 newly qualified pilots will be required each year until 2033 to fly the growing number of passenger jets.
The number of personal insolvencies cases in the UK has gone up by 8% in the second quarter of 2014.
Figures from the Insolvency Service showed that 27,029 people experienced serious financial problems between April and June, an increase of 2,088 on the previous three-month period.
Of these, 5,452 people declared bankruptcy, 14,571 entered into Individual Voluntary Arrangements (IVAs) with creditors and 7,006 signed Debt Relief Orders (DROs).
Products ordered from Amazon in Spain now have lower postage and packing costs in a response to demand in Portugal where expats and nationals now are unwilling to order from the UK, but still want to buy books and DVDs.
Three month ago Amazon UK dropped its ‘super saver free delivery’ business model and suffered a catastrophic fall in demand as expats in Portugal simply stopped buying.
The Minister of Agriculture and all things Marine, Assunção Cristas, today challenged more Algarve companies to invest in the production of tuna aquaculture - in partnership with the Japanese.
"We have here an extraordinary opportunity to intensify work in this area and meet the challenge of producing tuna in Portugal," said Cristas, who is keen to promote a partnership between the Universities of the Algarve and Kinki in Japan.
The Hospitality Association of Portugal reports today that the occupancy per room in Portugal's hotels increased to 73.14% in May this year, up 4.96% from the same month of 2013.
According to Tourism Monitor data the total revenue per available room across the country was €78.78 in May, an increase of 20.51% over the same period last year.
Shares in high street bank BES dropped a further 10% today after news reached the market that the bank's keenly awaited Annual General Meeting has been called off due to pressure from Espirito Santo Financial Group and Crédit Agricole, the bank's two largest shareholders.
The AGM was scheduled for Thursday July 31st and, according to a document sent to the market regulator CMVM, the meeting was called off due to, “incidental and unexpected facts” mainly the application to the Commercial Court of Luxemboug for protection from creditors for three key Espirito Santo companies to which BES is exposed.
