Inquiries into the finances of Ricardo Salgado and the former head of Portugal Telecom, Henrique Granadeiro, have resulted in the seizure of Herdade do Vale do Rico Homem, owned by a company controlled by Granadeiro.
The decision to seize the wine estate was made following the interrogations of Ricardo Salgado and Henrique Granadeiro as part of Operation Marquês when it was confirmed that Espírito Santo Enterprises (the slush fund operating for Grupo Espírito Santo) had acquired part of the company that owned the estate.
The Prime Minister estimated that private and public investment to fix up town and city properties could reach €5 billion by 2023, but warned that there is a danger of losing the very identity that appeals to tourists.
António Costa was speaking at the opening session of Urban Rehabilitation Week, in Lisbon.
The leader of the Left Bloc said today that the solution the government is negotiating with Brussels over the sale of Novo Banco, is "the worst of both worlds" because it leaves the State at risk but does not allow the government to appoint directors once 75% is sold to Lone Star.
Martins said that in a scenario where the State ends up with 25% of the shares, but no say in the operation of the bank, the State has "responsibility for future impairments without a word in its management."
Smokers wishing to enjoy a quiet puff on one of Portugal’s idyllic beaches may soon be denied even this pleasure as the European Commission prepares further measures to combat tobacco consumption.
Banning smoking on beaches, imposing a minimum smoking age, and maintaining the commitment to increase prices through taxation are three of the measures to penalise those indulging in this life-threatening habit.
Faro airport is bracing itself for another boost in air traffic this summer as operator ANA is predicting 8.4 million passenger movements for the year.
This summer there will be 11 new routes and 15 new regular services in and out of Faro airport including Budapest, Dresden, Erfurt, Gothenburg, Lille, Muenster, Newquay, Nice, Warsaw, Maastricht and Ostend.
The former Deputy Mayor of Monchique council has lost his appeal against a conviction for embezzlement and falsification of documents, he now must pay back €500,000.
The council was certain that António Mira’s appeal in Évora would fail and already has budgeted for the return of the stolen funds in this year’s municipal accounts.
Brussels is not at all happy with the government’s proposed sale conditions for Novo Banco which sees the taxpayer retaining 25% of the bank’s shares.
The Finance Minister, Mário Centeno, (pictured) says there has been no formal decision from the European Central Bank about the Portuguese State hanging on to a quarter share in the loss-making bank, but insists that "there are conditions for an agreement."
Communications regulator Anacom has ruled that telecom operators must take remedial measures as they have been increasing service prices without notifying customers who, if they did not agree to rate changes, could terminate their contracts without penalty.
According to Público, the operators targeted by Anacom's decision of March 17th are Meo, Nos, Vodafone and Nowo, which used to be called Cabovisão.