British Finance Minister visits Lisbon to 'talk Brexit'

brexitLenBritain’s Finance Minister is to visit Lisbon on Friday to talk ‘Brexit’ with his counterpart, Mário Centeno
 
Lisbon is one of many capitals that British Finance Minister Philip Hammond is to drop in on during his European tour to discuss post-Brexit relations.

Portugal's mortgage rates at historic lows

4805The nation’s borrowers racked up €819 million in loans in just one month - December 2017, "the highest amount since December 2010," announced the Bank of Portugal today.
 
According to the central bank, new consumer loans amounted to €401 million and personal loans for ‘other purposes’ accounted for €183 million.

Partex boss still bitter - "we decided not to invest more in Portugal, it's not worth it"

oilrig2The Partex president, António Costa e Silva, has confirmed that the oil company is abandoning its concessions off the Algarve coastline as it prepares to continue corporate life under a new owner, the Chinese CEFC group.
 
The Gulbenkian Foundation’s trustees decided to sell their fully-owned oil company as they pursue a policy of divestment from sunset industries to sunrise ones, leaving the new Chinese owners to extract wealth from the slowly dying oil sector.

Faro district court employees told to work on carnival day-off

carnivalThe union representing court employees has accused court district bosses in Lisbon North and Faro of having ignored the justice minister’s OK that everyone should have a day off for carnival, even though it is not a national holiday.
 
The union stated that "no one other than the minister of justice is empowered to decide on the service level over the carnival period."

High seas affect ten coastal districts

wave3Portugal’s coastline is to receive a battering as a warning of five metre waves has been issued by the weather service.
 
Ten districts in the country are subject to a yellow category warning until Saturday due to the high seas.

EN125 blocked by crash near Portimão

INEM125A driver had to be cut from his vehicle after a head-on crash on the EN125 this morning.
 
The accident at Figueira, Portimão, meant the road was closed as emergency teams used cutting equipment to free the injured man who was taken to the nearby Portimão hospital.

Algarve hotel owner on corruption charges in Miami

RIUHotelThe Mallorca-based Chief Executive and co-owner of RIU Hotels SA, has been detained in Miami on corruption charges.
 
The Spanish group has two hotels in Portugal: the 500-room ClubHotel Riu Guarana at Praia da Falésia, Albufeira and the Riu Palace Madeira Hotel.

Socialists close to making their mind up over Alojamento Local short-term rental changes

alThe Socialist Party has identified its preferred route through the Alojamento Local morass, opting for a quota system to be policed  by local councils.
 
A source close to the subject, Luís Testa, hinted today that the quota system is a good way forward and sais that the Left Bloc’s proposal has "very interesting issues."