"The problems of Portugal are not over - they are worse," warns Commerzbank in a note to investors.
The German company writes that the Portuguese government is making its economy less competitive and is driving the country back "to unhealthy pre-crisis trends."
Following a one year absence the Autodromo Internacional do Algarve welcomed motorcycle fans from across the world over the weekend of 15-17 September by hosting the Prosecco Doc 2017 World Superbike Championships.
Despite major motorcycle races taking place in Britain and Spain the Autodrome still managed a significant increased attendance in excess of 30% over the 2015 figures as vehicles from across the country and Europe descended upon the Algarve track. The car park was packed with Spanish registered machines who had skipped the racing in Jerez to hop across the border.
The final total of 41.922 people over the weekend witnessed the fastest laps ever recorded around the Portimao circuit, a spectacular fireball, extremely close races plus a moment in history being made.
Staff at the Foreigners and Borders Service claim not to have been given information about Golden Visa applicants who also are suspects in the biggest corruption purge in Brazil's history.
Many of those being investigated in the ‘Lava-Jato’ investigation, who applied for Golden Visa for Portugal, were granted them, ‘no questions asked.’
The Association of Portuguese Judges has called off the strike set for October 3rd and 4th, due to an "openness of parliamentary groups to discuss grievances in full," according to union boss, Manuela Paupério.
"The management met on Tuesday and we were pondering this situation and we decided to cancel the strike. We understood that it was better not to strike at this time," said Paupério, commenting that "sometimes it is more courageous to retreat than persist."
The Guardian has released a video report about Portugal’s most deadly fire, the June inferno at Pedrógão Grande, which took a week to extinguish.
"On 17 June, a fire swept through the forests of central Portugal, killing 64 people and destroying more than 480 houses.
Teams from Portugal’s National Republican Guard (GNR) and Public Security Police have spent a fruitful week wandering up and down the country, checking trains and railway stations.
The objective was the ‘intensified control and supervision on international and national trains on 11th to 18th September, as well as of railway stations throughout the national territory.’
The Foreigners and Borders Service has reported that requests for Portuguese residency have increased 1,300% in the days following a law change.
The wording of the new law allows those who have a job offer, rather than guaranteed employment, to obtain residency.
The Algarve’s tourist authorities are supportive of an investment of €500,000 in EU funds to look at wine and cooking tourism for the region.
This ‘heavy investment’ involves analysing the existing niche market of culinary and oenological tourism in the ‘Algarve Cooking Vacations’ project and involves the Regional Tourism Authority, the Tourism Association of the Algarve and a local Faro restaurant.
