Positive wine production in Italy this year has catapulted the country into the world’s largest producer, according to data provided to the EU.
Italy’s projected wine production is up 13% greater than in 2014 for an output of 48.8 million hectolitres. This means that Italy will be responsible for producing 28% of all wines in Europe.
‘Ship with us and get your business moving,’ according to the UPS corporate blurb but the shipping company was not counting on the wide reaching scope of Portugal’s already bulging treasury.
The Tax Authority yesterday pounced and seized a Boeing 707 flying the flag for Demark’s Star Air which is under contract to UPS, the international parcels delivery service.
Portugal’s outgoing Minister for the Economy, Pires de Lima, said that the government has no reason to doubt or to be anxious about the investment by Volkswagen in Portugal’s Autoeuropa plant.
"We have no reason to be anxious about this investment as it has always been considered by Volkswagen as essential to the development of its business," said Pires de Lima when asked by journalists about possible impact of the VW scandal on the Portuguese plant.
The body of an Irish golfer on holiday has been found at Vilamoura Marina but the police do not suspect foul play.
The 40-year-old was part of a group of golfers staying at the Dom Pedro Marina Hotel.
Former minister Armando Vara has been released from the indignity of house arrest as his conditions have been relaxed by the court.
Vara is implicated in the swirl of corruption and high-level bribery allegations covered by Operation Marquês, the same operation that involves former PM, José Sócrates.
The European Central Bank will complete its review of Novo Banco in November this year in a far-reaching process which is described as "an analysis of asset quality and a stress test."
The ECB said the European assessments carried out in 2014 examined the financial health of 130 banks but that this was before the ECB took over the EC’s banking supervision functions.
A portfolio of more than 14,000 properties seized from customers who failed to keep up payments will be sold off by Novo Banco as it clears out its non-strategic assets to improve its capital position.
Share in companies also will be sold as the bank strives to increase its capital before the European stress test in November highlights the bank’s capital shortfall.
Following the news item on Portugal’s water quality (September 30, 2015) a reader living between Bordeira and Santa Barbara de Nexe in the Faro council area commented in no uncertain terms on the work of Faro’s in-house company Fagar and its contract to install a mains water supply to the households in the area.
There are two areas of concern within the council’s obligations towards health and safety, and a further concern that corporate fraud may have caused the situation that has been going on for years.
