Algarve's new promotional video 'Share the Secret'

riaformosaA new promotional video has been launched by the Algarve's tourist board to be used at the coming year's tourist trade fairs, BTL and FITUR.

‘Algarve – Share the Secret’ is narrated in Portuguese by the actor Diogo Infante and aims to encourage tourists to 'spread the word' about Europe's 'most famous secret.'

BES's Ricardo Salgado in the running for 'the most corrupt person in the world'

bessalgadoarrestTransparency International, the Berlin based movement that works with governments, businesses and citizens to stop bribery, secret deals and the abuse of power has launched a new competition for the public to define and vote for the most corrupt and corrupting organisation or person in the world.

Portugal is represented by Ricardo Salgado’s Banco Espírito Santo, with Isabel dos Santos, a big investor in Portuguese businesses, also listed in the shortlisted 15 for which the public van vote.

German police put 25,000 litres of “tequila” to the torch

fireA large shipment of tequila was seized in Hamburg dock by customs officials in October acting on a tip-off from Mexican authorities.

Analysis both in Berlin and in Mexico determined that although the hooch had the correct alcohol volume of 65.1%, it was not tequila.

Olive thieves threaten bumper crop

olivesSpain is enjoying a healthy olive harvest this after two poor seasons, sending prices soaring by more than 50%.

The upshot has been a rise in thefts by roving gangs of robbers. Dozens of thefts have been reported each week since the harvest began.

Tax evasion amnesty bags €4 billion for Italy

euromillions2The Italian government expects it will get nearly €4 billion from tax dodgers who used an amnesty deal to declare money and assets abroad.

The year-long voluntary disclosure scheme resulted in nearly €60 billion being declared, according to the economy ministry.

Government has started TAP 'buy back' talks

tap2Portugal's new minister for planning and infrastructure, Pedro Marques, said he is in talks with Gateway as the state wants to buy back a controlling share of TAP.

The Gateway company control 61% of TAP but one of the Socialist Party’s pre-election commitments was to reverse recent privatisations, TAP’s amongst them.

Banif bailout basket case hits all time low

banifBanif bank shareholders faced a further 19% drop in value today to a new historic low.  The bank led by Jorge Tomé now has lost 77.14% of its value and has a market capitalisation of just  €150.3 million.

The shares just keep falling with investors apprehensive over the bank's ability to repay state aid of €825 million.

Wider concerns exist over the bank’s ability to survive at all with the EC having ‘major doubts’ about Banif’s ability to complete its restructuring plan as money keeps leaving the Madeiran institution and its retail business could hardly be referred to as profitable.

Communists propose good sense solution to Ria Formosa islanders' plight

culatraThe recently empowered Portuguese Communist Party has put forward a draft resolution to end once and for all the social injustice and predation being imposed on the Ria Formosa islanders in the Algarve.

The Communists are presenting a resolution to parliament which demands recognition of the social, economic and cultural value of the villages on the Ria Formosa islands and for an end to the demolition of houses by the out-of-control, state controlled Polis Litoral Ria Formosa company whose actions to date have caused outrage locally, nationally and internationally as it's contractors have demolished properties owned in many cases by generations of the same family.