BPI increases bank charges and ends free MB Way transfers

bpiBanco BPI today announced that its bank charges will increase from the May 1, 2019. 

The lender stated that costs for MB Way transfers, (the first inter-bank solution which enables purchases and immediate bank transfers via smartphones and tablets) will rise significantly from 0.20 cents to €1.20 per transaction. 

BES-Angola shareholders 'stole €3 billion from the Portuguese'

BESalgolabossAn investigation published today in Visão magazine shows that at the general meeting of BES Angola in October 2014, decisions were made that caused losses of €3 billion for BES and Novo Banco.

Álvaro Sobrinho, (pictured), the former president of BES Angola, (BESA) accuses the bank’s Angolan shareholders and Banco Nacional de Angola, of having set up a scheme to take €3 billion from BES and Novo Banco.

Caixa Geral's chairman tells government to stop meddling

caixageralThe chief executive of Caixa Geral de Depósitos , Paulo Macedo, said today that it is not up to the government to interfere in the bank's lending policy.

"It is not up to the state to meddle in the premiums, the credit policy, or give directions to buy assets and sell assets," said Paulo Macedo during a hearing in the budget and finance committee.

Continente to purchase 10,000 tonnes of Algarve oranges

orangeUntil June, each orange for sale in Continente’s 274 supermarkets will be from the Algarve and will be accredited as being from a specific area in certified orchards.

The Protected Geographical Indication (PGI) is regulated by the European Union and the partnership with producers means the purchase of around 10,000 tonnes of oranges.

Bank of Portugal 'asleep' as BIC flouts the law in Alisuper loans scandal

alisuperWorkers from the former Alicoop supermarket group, formerly based in Silves, are appealing against the seizure of their goods and property, filed by BIC bank and are to protest at the bank's headquarters in Lisbon.

Ten years ago this month, 245 employees of the Alicoop Group, which comprised the Alisuper, Macral and Geneco brands, borrowed €1.7 million from BPN jointly with the Alicoop management to keep the company going.

1920s Hotel Guadiana reopens as the five-star Grand House

hotelvrsaThe Guadiana Hotel in Vila Real de Santo António, renamed the 'Grand House', the 1920s building that has been undergoing extensive renovations, reopened its doors today, February 7th.

The interior has been remodelled to upgrade the hotel to five-star and the exterior has been saved from further degradation by a complete renovation.

Novo Banco blocks transfer of Venezuelan state funds

novobancoNovo Banco has halted a $1.2 billion (€1.06 billion) transfer set up by the Venezuelan government, under President Nicolas Maduro, to banks in Uruguay.

The government opposition already has denounced the planned theft of public funds with its leader, Juan Guaido, keen to halt any such transfers.

Galp-ENI’s Aljezur drilling plan - 11 February court hearing cancelled

OilAriealShotSmallAnti-oil association, ASMAA, issued a notice today to inform all those who have been following the anti-oil drilling legal process currently taking place in the Administrative and Fiscal Court of Loulé, that the court hearing, scheduled for 11 February at 2:00 p.m., was cancelled by the court.

The reasons for this cancellation arise from the need to clarify the legal status of the contracts.