The former Archbishop of Canterbury has challenged the assumption that people who borrow money always have a moral responsibility to pay it back.
Rowan Williams said that repayment of debts is not a “moral absolute” as banks and other lenders have failed in their moral responsibility in lending funds.
A Chinese conglomerate has agreed to purchase 89% of House of Fraser in a deal worth more than £450 million.
The company, Sanpower Group, owns a large department store in Nanjing and controls more than 100 companies in various sectors including retail and property.
The integration of Portugal’s Roma population ‘is going well,’ according to a new report which shows the first signs of an improvement in living conditions of Roma families across Europe.
The Portuguese strategy for Roma integration is bearing fruit, according to the research document released by the European Commission today.
In a rare contraction of service, low-cost carrier Ryanair is to suspend its new Faro to Lisbon route just three days after its inauguration.
From April 24th the low-cost intercity airlink will cease. The airline gave no explanation for the decision, the news was announced by an ANA spokesman.
Only the Algarve region saw a rise in house prices in March this year as the rest of the country continued its slow decline in property values.
The prices of homes across the country in March racked up the third month running that prices have dropped according to the Confidential Real Estate Index released today which reported a fall of 0.6% from February, and a drop of 1.3% compared to March last year.
The Arto Carpus Castelo Foundation, based in Finland, is applying to create a centre for scientific research in place of its tourism development at Benémola near Querença, Loulé.
This alternative investment of €10 million is a dramatic turn away from the standard ‘spa, golf course, hotel, villas and apartments’ model of tourism development. Many such large schemes have the blessing of short-sighted local councils but have yet to be started as the crisis has given pause to both project funding and the will to build more ‘me too’ projects.
The head of PSA Peugeot Citroën, Carlos Tavares, said today that the cost of electricity in Portugal is 40% higher than in France and said that he will discuss the matter with the Secretary of State for Transport.
'The cost of electricity in Portugal is 40% higher than in France, which is a factor when looking at non-competitiveness. Anything that can be done to improve competitiveness in terms of energy costs will help the automotive industry and also other industries," said Tavares today on a visit to Portugal.
Associations representing the fishermen and shellfishermen of Olhão and Faro want the ‘Armona island pilot area for aquaculture production’ (APPAA) reduced in size as it is not being used, yet locals are prohibited from fishing there.
Six years after the governmenmt created this special, non-fishing area, off Armona, "more than 50% percent of the area occupied by APPAA is not being exploited,” according to local groups who question the government’s assessment of the economic viability of the project and want the area it covers re-opened.
