Portugal has entered 'boom and bust' territory as the sharp declines in property prices triggered by the 2008 economic crisis have been replaced with significant increases.
The IMF economists stress that it is not yet time to panic, but to keep an eye on property price levels with Portugal recording the 15th highest annual increase among more than 60 countries analysed.
The latest Ernst & Young survey on corruption placed Portugal in fifth place behind Croatia, Kenya, Slovenia and Serbia, India and the Ukraine.
The survey interviewed 3,800 workers in 38 countries and showed that 83% interviewed in Portugal agreed that bribery in the country was widespread, unchanged from the 2015 result despite many high-profile cases hitting the headline this year.
A special deal for expats is being fast-tracked to the Brexit negotiating table, bypassing other steps which could take years to decide.
Guy Verhofstadt, the European Parliament’s chief negotiator, has confirmed that people from the UK will be given the chance on an individual basis to opt-in and remain EU citizens.
The latest strike by pilots at Germany’s Lufthansa airline has cost the company €100 million, according to the company.
The action in November lasted six days and caused major disruption for hundreds of thousands of would-be passengers.
José Maria Ricciardi has left Haitong Bank with its Chinese owners preparing to announce several more top level changes. The news of Ricciardi's exit was communicated on Friday 9th December to the Comissão de Mercado de Valores Mobiliários (CMVM).
Haitong Bank already had given signs that it intended to present a new management team to the regulator by the end of this year but the reasons behind Ricciardi’s abrupt departure are not yet known, nor is it known whether he is leaving of his own volition.
Although I am not a magician I may say I have about 40 years of solid experience in this kind of marketing topic and on top of this, I hace acquired a practical knowledge during my 15 years' experience in the daily field of the short term holiday renting = Alojamento Local, writes algarvedailynews.com reader, 'Charly'.
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Caixa Geral de Depóitos soon will have its new management team under CEO and the hope is that things will settle down at the State owned bank. A green light has been signaled by Brussels that the first phase of the major recapitalisation process can start.
The European Central Bank and the Bank of Portugal both have agreed that Caixa can now reduce its capital to cover losses, to be followed by a huge capital increase next year.
Another tourism first for the Algarve - registered methadone users from abroad will be able to pick up supplies while on holiday in the region.
The drug is used to treat many addicts to reduce withdrawal symptoms and will be made available through the Algarve's regional health service which aims to reduce the risks associated with carrying the drug through the region’s entry points and to provide a safe way of continuing treatment for addicts on holiday.
