The French government has turned its attention to the thousands of its retirees moving to Portugal, taking full fiscal advantage of the Non-habitual Residents scheme that has been one of the key drivers of the Algarve's property market since 2009.

Not only is the weather better and costs generally lower in Portugal, tax exemptions have been the deciding factor for many French citizens moving to the Algarve in retirement. Certainly, their purchasing power is improved than if they had stayed ‘dans la belle France.’

Four people who asked for financial support to rebuild their burnt out houses in the Pedrógão Grande area of Leiria have been made defendants as part of an investigation into irregularities and fraud.

The Department of Criminal Investigation in Coimbra said that, "so far, four defendants have been named among the applicants for support."

Worten has invested €7 million in a new online marketplace and from Thursday will be offering an expanded product range, including home decoration and furniture.

Worten Marketplace will have a huge product range “and the seal of trust of Worten," said Mário Pereira, Chief Operating Officer of Worten Iberia.

As from today, September 19th, Immediate bank transfers can be made 24 hours a day, 7 days a week. The definition of 'immediate,' in this instance, is an impressive ten seconds.

The Bank of Portugal announced that the new payments system is live and it’s up to individual banks whether or not they to sign up to the system.

The leader union of the Algarve’s taxi drivers is delighted at the chaos caused as over 200 of his members clogged up the access road to Faro airport, leaving customers without essential transport to court, hospital and many other hard to change appointments.

The drivers are protesting against the increase in the number of vehicles working in the region during the summer which deprive them of business.

Portugal's Left Bloc has issued a statement that questions the Minister of the Sea and her reliance on a Galp Energia employee, now former employee, in the formulation of government policy regarding oil and gas exploration.

The statement reads: In January 2017, in Washington, the Minister of the Sea welcomed the US investment in oil exploration in our country. In Portugal, assured the minister, there are no movements, "against this type of exploitation because we are doing things silently."

Somewhat late to the market, Portugal’s government has announced that it is to present a proposal for a law that will allow Real Estate Investment Trusts (REITs) to operate in the country.

These widely used property investment companies sell tradable shares and buy property for the long-term, a high percentage of the income then is distributed to shareholders. In the UK, 90% of a REITs’ net income is distributed and the company is exempt from corporation tax.

Portugal has launched a determined bid, taking full advantage of the UK’s exit from the European Union, to lure asset management companies from London.

One bold claim is that Portugal’s regulators will simplify the process for asset management companies to register here.