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Stock market regulator rips into former Portugal Telecom board

zeinalbavaPortugal Telecom’s former board members Zeinal Bava, Henrique Granadeiro, Luís Pacheco de Melo and Amílcar Morais Pires face fines of up to €5 million for lying to the Stock Market Commission (CMVM) and misleading investors.  

The CMVM, led by Carlos Tavares, has been keen to establish who was been responsible since 2012 for dishing out massive loans to the Grupo Espírito Santo (GES) subsidiary Rioforte.

EU sanctions deadline extended yet again for Portugal and Spain

6231Portugal and Spain are to be given another three weeks to correct their budget deficits so as to avoid receiving damaging EC financial penalties and sanctions.

The extension, to be announced on Tuesday June 5th, represents a compromise between Germany's tough stance on sanctions and those country leaders who want some leeway afforded to poorly performing southern European countries.

Hit-and-run driver leaves woman to die near Algarve Shopping

inemA pedestrian walking along the side of the EN125 near Algarve Shopping has been killed in a road traffic incident just after 05.30 on Saturday morning.

The police are keen to trace the driver who failed to stop, having driven into the 41-year-old woman, leaving her severely injured.

Dona Ana beach suffers large rockfall despite €1.8 million in safety work

donaanaThe second sizeable rock fall at an Algarve beach in three days has hit the former jewel in the Algarve's crown, Dona Ana beach in the Lagos area.

Despite €1.8 million spent by the Portuguese Environment Agency, led by 'demolition man' Sebastião Teixeira, the cliffs clearly have remained in a dangerous state.

Motorcyclist dies at Autodrome during advanced driving course

autodromeA collision between two motorcyclists at the Algarve’s International Autodrome on Satuday has left one dead and the other seriously injured.

The survivor of the crash, 43, remains under observation in Portimão hospital.

Monchique fire ravages inaccessible countryside

fireforestTwo specialist aeroplanes and two helicopters set about dousing a fire that broke out late this afternoon in the ​​Ribeira Grande area of the Monchique mountains.

The fire started in an area that is inaccessible for vehicles so the option to send in airborne firefighting craft was the only one available to fire chiefs. As the fire spread, men and 39 vehicles were able to tackle one area between Monchique and Aljezur to the west.

New 'wellness centre' for Albufeira’s stray cats and dogs

dogillA new Centro de Bem Estar Animal de Albufeira (Center for Wellness for Albufeira’s Animals) was the project most voted for by the public in the Council’s ‘public can vote for projects scheme.’

The council already has signed the contract for the building work and the new centre will be completed "before the end of the year."

'Adios muchachos' - Spanish continue leaving in droves

spanishwomanbeachSpaniards remain on the move with official figures indicating the numbers leaving the country are the highest since the economic collapse began.

Just shy of 100,000 Spaniards left Spain behind in 2015, according to the country’s Office of National Statistics.