The European Commission will not hesitate to open an investigation if it even suspects that control of most of the capital and of the company’s management leaves the hands of "nationals of a country of the European Union."
The Commission currently is monitoring the sale process of TAP and will act if it suspects that at any point in the process, the control the majority of the capital and of the decision process of the company leaves European control.
The Governor of the Bank of Portugal again made his position clear with regards to depositors who have lost their money due to Banco Espírito Santo’s duplicity and collapse, this time in answer to questions in parliament posed by the socialist MP Pedro Nuno Santos.
Governor Costa denies any culpability at all for the deposit scheme whereby BES customers were persuaded by banking staff and managers to invest in ‘safe’ investments akin to deposit accounts.
The European Commission has threatened to take the Portuguese government to court if it does not change rules that infringe Community law in relation to tolls on formerly free Scut roads.
The original complaint from Aveiro council was lodged when the tolls were imposed. This was assessed by the European Commission which asked Portugal’s government for additional comment and analysis on its toll schemes on formerly free roads.
Portugal’s Council of Ministers today decided that the bid from David Neeleman to buy 61% of TAP has more merit than the one from Germán Efromovich.
Hence, the government will sell the taxpayers’ 61% in TAP SGPS SA to David Neeleman’s group – Gateway rather than to Efromovich's Avianca Holdings.
Eco-organisation Almargem is not fooled for a minute by plans for a 'scientific research centre' near Querença, Loulé and is suspicious that this is a really just another luxury hotel project.
The direct views over the neighbouring Quinta da Ombria resort, currently under construction, are a bit of a give-away, according to the environmentalists.
Cider producers in Britain are fearful that EU bureaucracy could put many of them out of business.
The issue revolves around a tax exemption, in place since 1976, which covers cider makers producing less than 7,000 litres a year. It was introduced to help artisan production.
A ratings agency has warned HSBC that it could lose its AA-rating if it goes through with its plan to boost more profit.
Fitch, one of the top three ratings agencies which judges the safety of company debt, said the plan outlined by HSBC boss could potentially bring about the reduction of the bank’s current rating.
A new global index shows that house prices in Portugal rose by 1.8% between 2014 and 2015.
But it was far outstripped by a number of other countries, leaving it in 36th position for best performance.
