Malta has revised its ‘golden passport’ scheme after coming under pressure from the EU.

The country had been planning to sell its passports to any non-EU national investing at least €1.15 million in its Individual Investor Programme (IIP).

Vila do Bispo council is to create a caravan park next to the Fortaleza de Sagres, an internationally recognised national monument.

The Vila do Bispo council budget for 2014 included a budget for running a caravan park in order to increase the safety of caravans by offering a ‘dedicated and protected parking area,’ but now reveals this is to be next to the iconic monument.

In the past 9 months over 60% of Portugal’s ‘gold shops’ have closed due to the tumbling gold price across international markets, according to a report from Golden Broker.

The fall in price from $1,600 per ounce to $1,200 per ounce between March and June 2013, accompanied by increased high street competition, are said to be the main factors that caused these fly-by-night businesses to shut up shop.

The concession for the operation of three of the four bar units on the riverfront by the Avenida dos Descobrimentos in Lagos was signed this week by the municipal company, Futurlagos.

The concession for the operation of the three bars on the roof of the car park on the riverfront was awarded after a public tender, initially launched in 2012 by Futurlagos Empresa Local para o Desenvolvimento, which holds the powers to grant leases and to exploit the commercial potential of this commercial area.

Four officers from New Scotland Yard arrived in the Algarve on Wednesday 29 January to meet Policia Judiciaria (PJ) investigators. The British team is keen to interview three local suspects that are key to the ongoing Madeleine McCann case.

The British officers want to continue their investigations into the disappearance of Madeleine McCann from Praia da Luz in 2007 and need to discuss with PJ officers the feasibility of arresting and questioning the three suspects, and ask for local assistanceas the British have no right to arrest anyone in Portugal.

Spain’s cash transactions have grown to be worth 25% of the country’s output, hitting nearly €253 billion.

As ever, the black economy has rocketed with increasing unemployment, unabated at 26% of the population.

The largest market for red wine is now China, where 1.8 billion bottles were sold in 2013.

In just five years, sales have soared by 136%.

The Chinese market has pushed back the French one into second place, with the Italian market coming in third.

Riots followed demonstrations in Brazil over the World Cup.

Shop fronts and bank windows were smashed and cars burnt in Sao Paulo. Police clashed with a crowd of some 2,500 in running street battles, and up to 128 people were arrested.