Portugal's Food Banks provide essential help despite zero EU aid this year

fome5The president of Portugal’s Food Bank system has called on the Portuguese to be "even more generous" in the next food-collection campaign because Community aid has been suspended.

Last year, social welfare institutions benefited from food aid from the Fund for European Aid to the Most Deprived, which supported more than 400,000 Portuguese, but which was not distributed this year.

Eastern European gang of professional housebreakers arrested in Portugal

burglaryTen of 17 Eastern Europeans arrested in a major investigation into burglaries across Portugal have been remanded in custody.

The group was part of a network that operates throughout Europe and specialised in opening locks of properties from which they stole valuables.

Barroso loses contract as 'visiting professor' in Geneva

barrosoThe University of Geneva’s and the allied Institute of International Studies have decided not to renew the contract with the former President of the European Commission, José Manuel Durão Barroso, which anyway expires at the end of 2016.

The reason is Barroso's new job at Goldman Sachs. The former Portuguese prime minister was a visiting professor at the prestigious higher education institute, where he had studied and worked in the 1980s.

Adulterated oilve oil blights growing market

olivesPortuguese food standards agency ASAE seized 6,000 litres of fake olive oil from a packaging and distribution company in Penamacor, Castelo Branco, according to an agency statement.

The fake olive oil was seized as part of operation “Golden Oil III” in October when officers found 3,400 litres of blended false oil decanted into bottles marked olive oil. The seized products had a market value of around €30,000.

Tourist Tax - what you will pay in tourist destinations around Europe

lisbon2Since January 2016, visitors to the Portuguese capital have to pay a Municipal Tourist Tax of €1 per person per night.* Children under 13 and those seeking medical treatment are exempt. The levy only applies to the first seven nights. Scattered municipalities, such as Oporto and Cascais, are also considering a Tourist Tax on a similar basis to Lisbon.

Based on information from the European Tour Operators Association (ETOA), we will look at what tourist taxes are charged at popular holiday destinations around Europe beyond Portugal.

British consumers remain wedded to credit

4775People in the UK have been flashing the plastic in a show of consumer confidence which has brought the cumulative household outstanding debt to £66.2 billion on credit cards.

Unsecured credit boomed in October this year to create a record high, according to data from the Bank of England.  Debt rose by £571 million that month, a leap of 10.5%.

DBRS threatens to drop Caixa Geral's credit rating to 'junk'

caixageral2Portugal’s favourite ratings agency, DBRS, has put the Caixa Geral de Depósitos rating "under surveillance with negative implications," signalling the likelihood of dropping the State-owned bank’s rating to 'junk' status.

The problems is one of corporate governance following the resignation of most of the Caixa Geral's directors alongside the bank’s president which has put at risk the bank's recapitalisation timetable. Without a ‘recapitalisation’- a polite word for ‘bailout,’ the bank inevitably will remain unprofitable.

ATM explosion gang arrested

atmPortugal’s Judicial Police have arrested 17 people on suspicion of blowing up cash machines.

The police launched an operation on Tuesday morning to arrest the gang members, "In the course of the operation, seventeen suspects of various nationalities, aged between 22 and 61, were arrested, some with a background of violent crime, relevant evidence was seized as well including several vehicles, motorcycles and numerous items of evidence."