Novo Banco, which was meant only to hold all the good loans and assets from the collapsed BES, has reported a net loss of €1.395 billion for 2017, significantly higher than the €788 million the bank lost in 2016.
The 2017 accounts, signed off by CEO António Ramalho, refer to the year in which the Resolution Fund sold 75% of Novo Banco’s shares to the American Lone Star Fund for zero euros, while hanging on to 25% to ensure the public would continue to throw billions at the disaster created by the Bank of Portugal.
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French company Altice, owner of Portuguese telecoms provider Meo, has started charging its customer €1 each time it sends them a bill through the post.
The Foreigners and Borders Service (SEF) yesterday announced a strike from Tuesday, March 27, until Thursday, March 29, in protest against the "chaotic situation" that exists in the service. (
Deutsche Bank finally has marked an end of its branch level involvement in Portugal with the sale of its remaining sites to Spain’s Abanca.
The Algarve’s rubbish collection and recycling company, Algar, is buying more ecopoint recycling bins at a cost of €1,800 per unit.
The Metropolitan Police is to receive further funds to continue its investigatio into the disappearance of Madeleine McCann.
Portugal is the first in a list of 65 countries that are friendly to immigrants, beating Taiwan and Mexico to the number one spot.
Prices for postal services at Portugal’s privatise post office are to go up an inflation busting 4.5% from April 2nd.
