If the expected Pestana deal goes through, the largest hotel chain in the country would keep the ‘Tivoli’ brand in some units, according to Dionisio Pestana, president of the Pestana Group
Espírito Santo Group, through its insolvent Rioforte subsidiary, said today that its 14 Tivoli hotels are all up for grabs.
Banco Espirito Santo today rejoined Portugal’s stock exchange and despite two ratings downgrades the stock rose on re-entry.
The Bank of Portugal issued a statement saying that there was no danger of BES being unable to cover what it owes and that there was no risk to global markets.
The blame game has started in the Algarve as bitterness sweeps the region in the aftermath of losing the Portugal Rally to the north.
The opposition party in Loulé say that the mayor, Vítor Aleixo "did little or nothing" to keep the Portugal Rally on home territory.
The population of all 28 nations of the EU was estimated to be 507.4 million at the beginning of this year.
In January last year, the figure was estimated at 505.7 million, according to Eurostat.
Spain’s economic problems deepened after it was revealed that the inflation rate there went down to zero in June.
Spain is the fourth largest economy in the eurozone, but its double-dip recession in 2012 resulted in more than a quarter of its working population without jobs.
Nicolas Sarkozy’s political party, the UMP, is in the midst of an internal squabble which is seeping out into the open.
The main centre-right opposition UMP is said to be facing collapse as its senior members hurl accusations at each other of frittering away millions of euros of taxpayer’s money in luxury spending.
Portimão Court has passed judgment on the case of Vera Alves, who died after undergoing ovarian surgery at a private Algarve hospital.
The case dates back to April 2011 when the victim, a 27-year old nurse, underwent surgery to improve her chances of conceiving.
Work to redevelop the Pneus Mabor eyesore overlooking Portimão’s river Arade has been given the green light.
The ‘Mabor Building’ stands on the waterfront in Portimão on Rua Serpa Pinto opposite the Visconde Bivar gardens and for decades has been a landmark for all the wrong reasons.
