The production of electricity from Portugal’s dams hit a record high on February 16th 2014 when hydroelectricity provided 66% of the country’s total energy needs.
Throughout 2014 records have been broken as rainfall has topped dams up to full capacity, according to energy distributor REN.
The Mayor of Portimão Isilda Gomes today met the Prime Minister to explain the dire state of the council finance.
At the meeting the Portimão mayor emphasised the effort that her newly formed executive is making to reduce the running costs at the council, and explained that there are now worrying signs that the municipality is unable to meet the most basic social needs of the population.
Strong anti-smoking legislation is to be introduced across the European Union.
Cigarette packs will be obliged to carry large health warnings. Flavoured and menthol cigarettes will be banned altogether.
Spanish oil company, Repsol, has agreed to receive $5 billion in compensation from Argentina.
Argentina seized Repsol’s assets in Argentina by nationalising its stake in Argentina’s biggest oil company, YPF.
Germany’s economic performance has continued to outstrip all its fellow eurozone partners, mostly due to foreign trade.
It closed the year with growth of just 0.4% for the year, according to the German statistics agency, which was the slowest expansion since the meltdown began in 2008.
This summer four charter flights each week will be bringing Russian tourists to the Algarve, an estimated 9,700 of them, courtesy of travel company Natalie Tours.
According to a statement today from the Algarve Tourism Association, Natalie Tours is organising meetings in the Algarve between 27 February and 4 March with Turismo de Portugal and the Algarve Tourism Association and at a press conference will announce the lucky hotels that will be stocking up on vodka.
The ratings agency Moody’s needs to have more certainty that the current growth in Portugual’s GDP is sustainable, as it is mostly based on exports, but is not bothered if the exit from the Troika programme is a clean one or accompanied by a further credit facility.
Kathrin Muehlbronner, Vice president and senior analyst at Moody's, commented today that Portugal already is raising money on the international debt market but still "growth prospects and debt levels remain a concern." The agency predicts a stabilisation and a return to moderate growth for Portugal’s economy.
Independent workers wishing to sort out a payment plan for their social security debts may soon be able to pay in stages over 150 months.
The Minister of Employment and Social Security today announced that the Government is working on measures to extend the maximum repayment period for those wanting to pay in stages to 150 months - 12.5 years.
