Deutsche Bank’s shock announcement that it forecasts a loss of €6.2 billion has sent shivers in the financial world, no less among shareholders who might not receive a dividend this year.
The bank warned of the net loss, saying it would record a charge of €5.8bn in impairments, "largely driven by the impact of expected highly regulatory capital requirements... as well as current expectations regarding the disposal of Postbank".
Santander Bank has lost its request to hush up its €1 million fine.
The eurozone’s biggest bank was handed the fine last June for breaching a “law for the prevention of money laundering and financing of terrorism”.
"There was a complete and incomprehensible lack of professionalism", according to the lawyers acting for Pharol, previously named Portugal Telecom.
The Lisbon Commercial Court was treated to a range of accusations made against against the former directors of Portugal Telecom SGPS, Henrique Granadeiro (pictured) and Morais Pires who was the Banco Espírito Santo board nominee, and Luís Pacheco de Melo the former PT finance director.
The Algarve’s 6th Birdwatching Festival held in and around Sagres has been declared a resounding success as the organisers welcomed over 1,000 participants from 20 countries.
The main business of the four day event was the number of bird species spotted, with 150 different observed during the early October event which outshone last year’s with Vila do Bispo council, the Portuguese Society for the Study of Birds and eco-organisation Almargem, all delighted at the outcome.
The October 2014 animal rights law at least has given the authorities a framework within which to investigate and if necessary prosecute those who "without reasonable cause, inflicts pain, suffering or any other physical abuse to a companion animal…”
Animal rights groups and those that look after abandoned and mistreated pets may be cautiously optimistic that in a country that seems to take forever to achieve change, there have been 98 crimes registered against animals and 4,536 fines in the first year of the law’s operation.
Castro Marim, opposite Ayamonte on the Portuguese side of the border with Spain, is soon to take full advantage of the leisure opportunities available on the Guadiana river and is building a floating harbour to link the town to the river.
The €92,000 project is part of the new Cross-border Cooperation Programme between Portugal and Spain, the budget for which is funding 75% of the cost.
Nearly 880 million people travelled by air in the European Union in 2014, a far higher number than the 503 million who reside in the EU.
This represented an increase of 4.4% over 2013 and 17% over 2009.
An international network illegally distributing TV signals via satellite has been caught and shut down in an operation involving police in Brazil and Portugal.
The Judicial Police and the Brazilian authorities say they have dismantled the international criminal organisation that was dedicated to the unlawful distribution of satellite TV signals through ‘card-sharing*.’
