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EDP shares rise after rumour of French bid

edpFrench business news channel, BFM, today posted on its website that Portugal’s EDP is being examined by France’s Engie, with a full bid in the offing.
 
Engie said it had no comment to make and EDP has release a statement that “no contacts have been established, nor have there been any negotiations with a view to consolidating operations.”

France and Portugal join in commemorating the fallen at the Battle of La Lys

ww1One hundred years ago, on April 9, 1918, in the valley of the River Lys in northern France, the second division of the Portuguese Expeditionary Corps was fighting. 
 
A massive enemy bombardment had cut the supply lines and communications, completely destroying defensive fortifications. This was ‘Portuguese Verdun’ of the First World War.

German-led mini-conference on alternatives to 'sun and sand' holidays

airplane2The German-Portuguese Chamber of Commerce and Industry is taking the Portuguese market by the horns by organising an afternoon mini-conference on alternative tourism – and taking it seriously.
 
The conference themes, all representing alternatives to ‘sun and sand’ holidays, include business tourism, health tourism and nature tourism - as applicable to the German tourism market.

Demolition Man is back - ten Algarve clifftops to be destroyed 'on safety grounds'

cliffsThe Portuguese Environment Agency in the Algarve is wasting no time in demolishing cliffs area that it considers, "dangerous after this winter’s storms."
 
Very shortly, ten of the Algarve region's clifftops are to receive the less-than-tender ministrations of the agency which has the say-so of João Matos Fernandes, the Minster of the Environment.

Olhão - Illegal gambling den shut down - over €50k in cash seized

 
pokerThe Tax Action Unit of the GNR has raided and shut down an illegal gambling operation in Olhão, seizing over €50,000 in cash.
 
According to a statement from the GNR, following a probe into illegal gambling and tax evasion that started a year ago, six searches were carried out last weekend, one at the casino site in a warehouse, two searched suspects’ cars and at three homes.

Don't rely on Lithium boom to solve Portugal's financial problems

electricalPlugInCarPortugal holds significant lithium reserves, placing it in the top ten countries in the world with an estimated 60,000 metric tons.
 
Martim Facada, the Lithium Market Reporter for Industrial Minerals, a publication that covers the global non-metallic minerals industry, says the current price of one kilogramme of lithium carbonate, as used in batteries, is around $23 - a "high price,” that Portugal can take advantage of.

Monte Branco money laundering case - most defendants will walk free

eurozoneOne of the largest money laundering and tax fraud networks ever detected in Portugal, based at the Montenegro Chaves currency exchange in Lisbon, should soon be in court but most of the defendants are expected simply to pay a fine and walk free.
 
Francisco Canas, aka 'Zé das Medalhas,' was the main defendant in the case. He died in 2017 but investigators had already started trawling through a long list of his clients.

Spanish tax fraud case - Ronaldo faces €100 million fine and jail

ronaldoThe Spanish Treasury wants to negotiate an agreement with Cristiano Ronaldo to end the tax fraud case that has blighted the footballer’s image as a clean-cut, upright citizen and role model.
 
The Portuguese player has been investigated by the Spanish authorities for not having declared several years income, earned from his image rights.