Works to electrify the sections of the Algarve railway line between Vila Real de Santo António and Faro, and between Tunes and Lagos, will be launched in 2018, to be completed in 2020.
Pedro Marques, Minister of Planning and Infrastructures, announced the welcome news today in Faro: he made the same announcement in Portimão a year ago.
A Maritime Police patrol boat, chasing a fishing boat suspected of illegal fishing in the Ria Formosa, collided at speed with a second boat with two people on board, a father and his 40-year-old son.
The accident happened at 06:30 this morning in the Ria Formosa lagoon near Faro.
Anacom, the regulator tracking the performance of Portugal’s post offices, today announced 24 new service indicators for the privatised business, and aims to guarantee a "higher level of quality of the universal postal service" by 2020, through "more demanding goals.”
According to the regulator, "in addition to a quality standard for each service in terms of speed of delivery, a reliability goal has been established that should be fulfilled in 99.9% of cases."
A left-hand drive Aston Martin DB5 with original Portuguese registration has made almost €1 million at auction.
The hammer price comfortably exceeded the Bonhams estimate and went for €936,000.
A brand reorganisation by holding company Adeo will see its Leroy Merlin and Aki stores merging in Portugal and other countries.
The management of the French group of interconnected companies intends to join the two DIY, construction, decoration and garden businesses into one to supply the Portuguese market.
French and Brazilians head the list of buyers for the 152,000 home purchased in Portugal last year.
Luís Lima, president of APEMIP, the real estate association, said that the increase of 25% to 30% in purchases was a result of foreign buyers who accounting for one in four homes sold.
Angola’s president of 100 days, João Lourenço, continues to clear away the remnants of the corrupt regime of José dos Santos while continuing his less than cooperative attitude towards Portugal, the country’s old ‘colonial master.’
The current point of conflict with Lisbon is Operation Fizz in which Angola’s former vice-president, Manuel Vicente, is wanted back in Portugal to face charges that he handed §800,000 to former Portuguese prosecutor, Orlando Figueira, in exchange dropping an investigation into the origin of funds which Vicente used to buy a luxury apartment in a Lisbon suburb.
The star of Portugal’s improving finances, Finance Minister Mário Centeno, said on Wednesday that the resolution for the collapsed Banco Espírito Santo, devised and agreed by Carlos Costa at the Bank of Portugal, already has cost taxpayers hundreds of millions of euros, and it’s not over yet.
Centeno said that the Banco Espírito Santo 'resolution' created an incalculable risk for the financial system, which only recently has been quantified with the sale of Novo Banco to Lone Star.
