Portugal's former Finance Minister has shown to be adept at handling his personal finances as his salary at the IMF, where he starts in June, will bring Vítor Gaspar a gross monthly sum of around 23,000 euros.

Gaspar was appointed in late February by Director General Christine Lagarde to the post of Director of Budgetary Affairs at the International Monetary Fund.  It was while directing budgetary affairs in his last job as Portugal's Finance Minister that his performance could be assessed as mediocre, leading to his resignation and a weak goodbye statement.

Inheritance tax in Britain is the second highest of any of the major economies in the world, narrowly trailing behind that of Ireland.

Britain's inheritance tax threshold of £325,000 is the second highest in the developed world, according to a global study by accountants UHY Hacker Young.

More people are now using electronic maps, leaving the Ordnance Survey with the need to drop its policy of routinely producing its paper maps for the entire UK.

In future, anyone wishing to have a paper map will have to order it and it will be printed specially.

Lufthansa is set to cancel 3,800 flights this week owing to a pilot’s strike, leaving only some 500 flights from Lufthansa and Germanwings.

The carrier said 425,000 passengers would be affected.

In a big vote of confidence in the Algarve as a top destination, British Airways has reopened the Faro to Heathrow route and is increasing its Faro to Gatwick frequency to twice daily.

The Faro to Gatwick route has been limited to one flight per day for the past two years, reflecting the drop in demand during the crisis and competition from lower priced airlines.

The dredging of the Guadiana river will go ahead under an agreement singed between the Portuguese and Spanish.

The Portuguese authorities and the Junta de Andalucía announced today the dredging work will start after this summer season with a goal of clearing to a depth of 3.5 metres to improve dramatically the navigability of the border river.

The controversial merging of the Algarve’s ports with the Port of Sines, 200 kilometres north  in the Alentejo, created the Port Authority of Sines & the Algarve which has been in Miami while presenting Portimão’s port at Cruise Shipping Miami 2014.
 
This event is the most important one for the international cruise industry and brings together operators and decision makers in the growing cruising sector. This year there was a record number of participants in Miami, around 12,000, with 900 exhibitors from 127 countries.

The mayor of Portimão has laid out plans to regenerate trade in the town centre with a set of initiatives that will involve locals to 'strengthen social ties and foster community spirit.'

The 'There's Life in the City’ programme was presented by Portimão’s mayor, Isilda Gomes, at a meeting attended by dozens of local business owners.