Paulo Portas was one of several members of the Government who attended the inauguration of the new governors of the Portuguese Tourism Confederation, which took place yesterday in Lisbon.
The Deputy Prime Minister stressed the importance of the tourism sector for the cohesion and prestige of the country, for exports, economic growth and job creation.
Portugal Telecom shares dropped nearly 5% on the Lisbon stock exchange by lunchtime today, as it became 100% clear that the company will never get back any of the money its management foolishly lent to Espírito Santo subsidiary, Rioforte.
The state now has seized Rioforte’s worldwide assets in a preemptive move to assure that there is something in the pot when it comes time for Ricardo Salgado’s collapsed BES to pay for his titanic mismanagement, lies, evasion and cursory treatment of the Bank of Portugal's instructions.
The parliamentary Left Block has proposed a draft resolution demanding an end to the tolls on the Algarve’s formerly free A22 motorway.
Therefore parliament will be discussing the controversial topic on Wednesday, along with the upgrading of the EN125 and upgrade work on the Algarve’s railway line.
Britain’s new Business Secretary has vowed to help small businesses by cutting £10bn of red tape over the coming five years.
The move is designed to boost British business at home and abroad.
TripAdvisor, the largest online travel website community, now has over 200 million reviews and opinions and the Portugal section shows what people like and dislike about holidaying there.
In fact half of the Portuguese top ten are in the Algarve, starting with Albufeira at number 4, followed by Portimão (6th), Sagres (7th), Lagos (8th) and for the first time in such an important ranking, Olhão is at number 9.
Prices in Portugal can be expected to rise slightly as the country experienced inflation of 0.5% in April, following on from a increase the previous month of 0.4%.
This was ahead of the eurozone average of zero inflation in April.
France has been warned to cut its “critically high” government spending.
The International Monetary Fund says “high and rising government spending has been at the heart of France’s fiscal problems for decades”.
When 70 concrete blocks were sunk off Gibraltar two years ago, the reaction in Spain was paroxysms of anger followed by furious protests.
Now the artificial reef is “exploding with life”, according to the island’s department of the environment. Its team of divers report that the blocks have rapidly been colonised by a wide range of marine and microbiological species from octopus and triggerfish to moray eels.
