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Sting’s Sister Moon achieves distinction

18 February 2016

stingShould any wine lover tire of a bottle of red from the Alentejo, they would do well to turn instead to Sister Moon, an Italian wine from the Tuscan estate of the British rock star Sting.

The robust red, named after one of his songs, has been declared one of Italy’s finest 100 wines.

Read more …

Rotary donates €24,000 forklift to the Algarve Food Bank

EIC 18 February 2016

rotary1smallRotarians don’t just donate money, they put in months of effort to raise funds to buy specialist equipment. The latest fundraising drive, initiated by Rotary E-club Porches International, produced the €24,000 desperately needed by the Food Bank to increase its effectiveness.

A spanking new electric forklift was presented to the Food Bank’s distribution centre in Portimão where it will speed up delivery and distribution, making operations safer as well as creating more floor space by stacking food containers.

Read more …

Águas do Algarve warns of a ‘worrying situation’ at its reservoirs

EIC 17 February 2016

odeloucaThe Algarve’s reservoirs are at levels well below normal and managers of the region’s water supply company Águas do Algarve says they are worried.

In late January 2016, according to Portugal’s weather service, almost all of the Algarve technically was in a drought situation.

Read more …

Algarve tourism results 2015 - simply stonking!

EIC 17 February 2016

6199The provisional figures for last year’s tourist income gave rise to great hopes that the final results would be record beaters – they are.

The National Statistics Institute has issued confirmation that in addition to the airport being close to capacity and rounds of golf played at a new high, the vital hotel sector registered a new high in 2015.

Read more …

Alcoutim Council's 'Guadiana River Hotel' for lease as it failed to sell

EIC 17 February 2016

ALCOUTIMHOTELAlcoutim council has failed to sell its Guadiana River Hotel within the 60 day window, and now is offering the property for lease with an option to buy.

The hotel has been closed for years and mayor Osvaldo dos Santos Gonçalves said that as the business had failed to sell at an asking proce of €1,3 million, the council now is happy to lease it with the bonus of offering permission to extend the property on land currently occupied by a tennis court.

Read more …

Prime Minister Costa hits out at Bank of Portugal

EIC 17 February 2016

besAt long last the Prime Minister has voiced his opinion on the Bank of Portugal’s endless delays in sorting out those investors who has their BES investments wiped out.

António Costa believes that the lack of regulatory action from the Bank of Portugal has been ‘lamentable’ and that he can’t believe that not a single public body is responsible.

Read more …

Crooked Chinese bank raided in Spanish police probe

17 February 2016

chinesebankmadridA Chinese bank in Madrid was raided by Spain’s serious crime squad on Wednesday as part of an investigation into alleged money laundering and smuggling.

ICBC (Industrial and Commercial Bank of China), which began operating in Spain in 2011, is China’s biggest lender.

Read more …

José Veiga's arrest scuppers Cape Verde Bank sale

EIC 17 February 2016

joseviegaThe Bank of Portugal has blocked the sale of the International Bank of Cape Verde (BICV) to businessman José Veiga.

The businessman had requested authorisation from the Bank of Portugal to acquire all the shares of the International Bank of Cape Verde (BICV), former known as the Banco Espírito Santo de Cabo Verde, SA (BESCV) held by Novo Banco on 18 January.

Read more …
  1. Miguel Relvas to be questioned over sale of Efisa Bank
  2. British impersonator detained in Spain
  3. Monchique's Longevity Hotel and Spa taken over by Scottish leisure group
  4. State sheds 70,0000 employees in four years
  5. Portuguese State condemned for forced adoption of a mother's seven children
  6. High value bank notes come under spotlight
  7. Russian vodka exports plunge
  8. Bank of Portugal's €2 billion BES 'bond dump' ruled as OK

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