The Navigator Company, one of Portugal’s largest eucalyptus producers for use in its pulp factories, lost €650 million in less than two hours today as a US trade battle over anti-dumping tariffs is expected to cost shareholders 20% of the company’s 2018 profits.
Shares in the Portuguese paper company suffered in brisk trading in Lisbon today after a paper sales tax was levied by the US.
Monchique's tragedy was predictable, like last year's and all the others in the past 30 years, as was the flooding in Albufeira, twice in a row.
On Dec,27th 2013 Vida Económica summarised my talk in Viseu: "Organised by Civil Protection, with the support of the National Association of Professional Firefighters, a seminar on the protection of forests was held. Consultant Jack Soifer detailed the costs of lack of prevention. "It's always much more expensive to remedy than to prevent," he said. The methods Soifer quoted, used in other countries, are despised here.
The Mayor of Monchique, Rui André, has been put in charge of a working group to regenerate the local economy and rid the Serra da Monchique's slopes of eucalyptus.
Portugal’s Prime Minister, popping down to the fire-ravaged municipality last Friday, announced the appointment of André in an effort to find some positives after his off-beat comments last week were slammed by national and regional media.(HERE)
Data from the Immigration and Borders Service show that only 47 investors received Golden Visas in July, 2108, the lowest monthly approval for two years.
The overall yearly intake remains on track but the sudden fall in numbers is blamed Greece and Ireland soaking up Chinese applicants.
The sale of the famous Herdade da Comporta estate descends further into farce with the directors of the management company seemingly determined to thwart attempts to buy the extensive property.
The board of Herdade da Comporta's management company, Gesfimo, has decided to launch a new sales process, only if those putting in bids last time around waive any rights they may have to challenge a future decision.
The President of the Republic met representatives from two of Algarve’s anti-oil groups and concluded that he now would ‘reflect on the arguments’ presented to him.
The two hour discussion with MALP and PALP activists, who fully are against Galp-ENI’s September drilling plans off Aljezur, gave Marcelo Rebelo de Sousa plenty to think about: he will now weigh up the, "legal, economic, financial, environmental, short, medium and long-term, as well as political” aspects.
The politicians have started to arrive in the Monchique area, picking through the charred remains for a positive spin.
Portugal’s Minister for Internal Affairs, Eduardo Cabrita, (pictured) said that the “great victory” had been that nobody had died in the fire that laid waste to over 27,000 hectares.
Jet2’s PR department has yet to respond to a customer’s claim that he and his family were relegated to seats near ‘a stinky toilet’ to make way for Coleen Rooney - wife of the footballer, Wayne Rooney – and members of her family.
Mrs Rooney later said she was completely unaware of the preferential treatment afforded to her family party but Mark Cassin was not best pleased when his group was moved to the cheap seats near a toilet area with odour issues.
