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Portimão sewage stink remains for another year at least

sewageolhaoAn environmental impact study for the proposed wastewater treatment plant at Companeira, Portimão has been released for public consultation until 11 September, according to the Portuguese Environment Agency.

This is the same €12 million treatment plant for which a tender was launched by Águas do Algarve in January 2014 with a target date to award the contract given as July 2014.

Spain reels in record amounts of the tourist euro

spanishpropertyForeign tourists in Spain have spent more than ever before during the first six months of this year.

The record high amounted to €37.1 billion, according to the Tourist Expenditure Survey report.

Yet another study launched to delay Portimão dock expansion

cruiseship2The management of the Sines and Algarve Port Authority (APS) has excelled itself by launching yet another survey to add to the long list of delaying tactics employed to deny Portimão the lifeblood needed to start to regenerate the struggling Algarve municipality.

The management of APS is ‘expected to launch in the coming weeks’ a tender for some market research and an economic feasibility study on ‘the possibility of carrying out works’ at the port of Portimão to see if enabling larger cruise ships to dock will be cost effective.

Punitive fine dropped over Spanish police car photo

facebookThe Spanish woman who was fined €800 for putting a picture of a police car on Facebook has seen that fine scrapped.

The photo showed a police car parked illegally in a disabled parking bay in Alicante.

Portugal recovers from Black Monday stock exchange losses

eurozoneThe 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.

Over 50% of overseas depositors 'go for pay-back deal' claims Novo Banco

stockdacunhaNearly 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.

BPI closes branches and looks for buyer for Angolan business

bpiPortuguese 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. 

Mosquito hits first domestic victim in Spain

mosquitoA 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.