The Portuguese stock exchange bounced back today as it recovers from Black Monday with the PSI 20 gaining 4.16%, having lost losing nearly 8% earlier in the week.
Investors worldwide have been responding to the stabilisation plans and stimulation of the economy by the Chinese government with the Chinese central bank dropping interest rates for the fifth time since last November.
Nearly half of Novo Banco’s overseas account holders have accepted the weak solution offered by the bank’s management.
Of the approximately 8,000 customers owed €700 million and registered as living outside of Portugal, 3,500 with deposits in the Poupança Plus and Top Renda offerings have gone for the offer proposed by Novo Banco boss Sock da Cunha.
Portuguese high street bank Banco Português de Investimento (BPI) is to close 25 further branches at the end of September as part a cost reduction drive
The Portuguese bank is run by Fernando Ulrich who said at the presentation of the half year results that costs were an issue.
A painful virus inflection introduced by mosquitoes has been detected in Spain.
This is the first domestic case of the disease for someone who had not travelled to an area where it is prevalent.
People in Spain have increasingly turned to smoking cannabis, particularly in private clubs where it is allowed if not encouraged.
The popularity of such clubs has helped drive up cannabis use to the point where Spain now is believed to have the highest consumption of any country after Iceland and the US. It overtook the Netherlands to gain third position.
Drought in Poland has had at least the benefit of uncovering a number of artefacts, including Jewish tombstones and a wartime fighter plane.
Rivers have reduced to record lows, with the Vistula at its lowest level since 1789.
The Minister of Agriculture said today that state support to those fishermen who decide against putting out to sea because of the sardine fishing ban are set at the maximum level allowed by EU regulations.
The sardine ban has been put in place due to dwindling stocks which need to be preserved to breed and produce more sardines for next year.
A study by TGI Marktest concluded that 50.5% of the Portuguese admitted to having been to a fast food outlet at least once in the past two months.
This equates to more than 4.3 million Portuguese resorting to a fast food restaurant, and the majority of respondents who answered ‘yes’ unsurprisingly are at the younger end of the scale.
