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Russians and Chinese take up British ‘golden visa’

mansionThe UK’s version of the ‘golden visa’ has seen more than 850 multi-millionaires over the last five years gain the right to live in Britain.

The scheme was introduced in 2008 for investors willing to spend a minimum of £1 million in government gilts in exchange for a visa, but not a UK passport.

Madrid rejects independence referendum

spanishpmSpain’s prime minister has told Catalonia that its referendum on independence is “illegal”.

Mariano Rajoy used the occasion of his state of the union address to declare that "this referendum can't take place, it is not legal".  

Vatican finances to be overhauled

eurozoneThe Vatican bank, one of the most secretive in the world, will have a new department overseeing its finances.

The new entity, created by Pope Francis, comes after the bank’s involvement in a number of scandals over several decades.

Portugal's cork industry goes for growth

corkoakThe Portuguese cork industry is to invest €7.3 million by the year end in a communications campaign to help the sector burst through the barrier of €1 billion of exports.

The Intercork II campaign will concentrate on 9 markets - the USA, China, Germany, Brazil, Italy, France, Canada, Sweden and Denmark, the main focus will be on cork stoppers to wine producing countries and  cork as a building material used worldwide.

Portugal 2013 - "best trade surplus since 1943"

containersDeputy Prime Minister Paulo Portas today responded to IMF criticism that Portuguese exports are unsustainable.

Portas said that export figures for 2013 showed a growth rate of 5.7% over the 2012 figure, which was a very positive result and ahead of national and international forecasts.

Quarteira fatal accident claim reaches London's High Court

justiceA woman left widowed and with traumatic brain injuries after a crash in Quarteira, Algarve is seeking damages from the driver’s insurer.

June Vann, 60, was left with serious brain damage and her 65-year-old husband Martin died after they were struck by a car as they crossed a road in September 2010.

GNR expels motorcaravans from Silves carparks

Members of the motorcaravan1Silves council executive have professed total surprise and shock at the expulsion of the motorcaravan city that had been allowed illegally to build up in the council car park next to the FISSUL building by the river.

In a statement, the council found that the action by the GNR Environmental Portection Force was ‘strange,’ leading as it did to the ‘expulsion of motorcaravanners.’

FT reports on how lenders see Portugal

ftThe Financial Times today published an article which identified the top 5 risks that could threaten the success of Portugal’s exit from the adjustment programme and its fiscal life thereafter.

"The meetings this week between Portugal and its creditors should be tense after Lisbon rejected the proposal to move forward with new wage reductions" according to the FT which was analysing the penultimate Troika review of Portugal's progress.