The National Authority for the Fuel Market said today that the exploration contracts for the areas off the Algarve coastline are only for the exploration of gas deposits, not oil.
The body clarified that the prospecting off the Algarve coast is just that, prospecting, and detailed research to see if there is natural gas. No licenses exist for the extraction or commercial exploitation of anything found.
Infraestruturas de Portugal, the new company formed by the merger of Estradas de Portugal and rail company Refer, is spending €150,000 on a new logo.
The new branding will be chosen from designs submitted by 'in house creative team members.'
An international consultancy has reviewed investment attraction programmes in 19 countries which offer some sort of Golden Visa scheme and concluded that Portugal has the best.
The 'Global Residence and Citizenship Programs 2015' report from Henley & Partners points out that the minimum investment in qualifying property is €500,000 in Portugal, a value which the authors consider as low: also that property purchase costs and taxes are set at an attractive level.
Despite having no coast and receiving little publicity, landlocked Hungary is also trying to cope with an influx of migrants.
When hundreds of people in an overcrowded migrant camp began a fight and were hurling rocks, police fired tear gas.
The cooperative agreement between Alcoutim, Castro Marim and Vila Real de Santo António lies in tatters as Alcoutim mayor Osvaldo Gonçalves is shafted by his socialist councillors.
The three eastern Algarve municipalities were to benefit from a €3.5 million pilot project to share resources, to delegate and to decentralise in areas such as planning but only if all three had final approval from their council assemblies.
Barcelona is feeling the weight of tourism as nine million visitors are expected this year.
The city receives five times as many visitors as it did 20 years ago, and a weak euro means many more could be enticed to visit.
Tourist spending accounts for 15% of Barcelona’s GDP and about 120,000 jobs.
Portugal’s PSI120 stock index closed 5.22% down this afternoon at 5,530.50 points in a Europe-wide reaction to uncertainty in Greece.
Portugal’s main index performed the worst among its European peers all of which ended the day sharply lower with losses varying between 1.97% in London, 4.56% in Madrid - even Frankfurt was down 3%.
The European Commission has offered Greek voters a 10-point bailout plan and has urged them to vote to remain in the euro zone in a referendum to be held on July 5th.
Greece’s Prime Minister Alexis Tsipras announced on Friday that he would go to the people as Commission President Jean-Claude Juncker works on finalising the ten-point plan before a press conference to be held on Monday.
