Portugal’s stock market regulator raided at least three Novo Banco branches today in a search for documentation related to the sale of commercial bonds in Grupo Espírito Santo companies to clients of BES.
The searches follow official complaints from angry BES customers who were advised to buy the bonds by trusted BES bank despite the bonds being in highly risky Group companies. Many of these companies have collapsed and others are insolvent.
Milk quotas from the EU have been dropped after more than three decades.
This will free dairy companies in the 28 EU countries to compete with international rivals to supply countries in Asia and Africa.
The 'low cost' airline Wizz Air has opened two new routes from Lisbon’s Portela airport to Budapest in Hungary and Warsaw in Poland.
"Warsaw and Budapest are two markets that allow greater diversity and connectivity to Lisbon airport," according to a vacuous statement from Portugal’s French owned airports operator ANA.
Illegal migrants in Spain will be given access to free public healthcare.
Undocumented migrants had been banned from free visits to GPs as part of the country’s austerity programme.
A full honkathon drive-by was taking place this afternoon in support of Marilu Santana who chained herself to to the stairway of Clube Praia da Rocha, Portimão thirteen days ago in an uncomfortable protest over unpaid wages.
Management company Green Stairs owes around €40,000 in pay for contracted staff from last year and says it will not have any money until this June.
José Guilherme, the businessman famous for giving Ricardo Salgado a ‘gift’ of €14 million, said he lost €25 million when the Bank of Portugal divided Banco Espírito Santo into good bank/bad bank and could still "lose a lot more."
In February, the humble builder was called to the committee of inquiry looking into the BES collapse so he could some clarification about allegations that he sent a €14 million present to his friend Ricardo Salgado, the former president of BES, but claimed he could not travel due to poor health as rather conveniently he was living in Angola, but he could write down his answers.
The management of US fund Lone Star has announced its acquisition of Garvecat, the company responsible for developing the Vilamoura resort.
The value of the transaction was not disclosed and according to a Lone Star statement, the company's aim is "to revitalise the resort through a long-term investment plan."
Unemployment in the euro region fell again in February. The rate was recorded at 11.3%, a very slight fall from what it had been in January.
Over the course of the year it dropped from 11.8%.
