VRSA print company close to the end

vrsaThe management of 67-year-old printing company 'Litográfica do Sul' in Vila Real Santo António met print workers on Monday to inform them that the company is applying for insolvency.

If the application is accepted by the court, the judge will appoint an insolvency practitioner who will run the company and decide on its future.

Portugal cuts foreign aid for the third year running

buildingsitePortugal had the third largest decrease in foreign aid in 2014, following Spain and Japan.

Foreign aid from Portugal to developing countries fell to €387 million in 2014 from €451 million the previous year.

Illegal migrants flock to Germany

germanyIllegal immigration to Germany reached a record high level in 2014

German police said they had arrested 57,000 illegal immigrants in 2014, an increase of 75% in just one year since 2013.

Franco to be proclaimed a dictator

francoGeneral Franco is at last going to be described officially as a dictator.

His official biography will be amended to say that Franco led the country for 36 years as a dictator.

UK shoppers promote Aldi

aldiAldi has now become Britain’s sixth largest supermarket, kicking Waitrose out of that spot.

The measurement is by market share taken over the first 2 months of 2015.

Successful Lagoa Wine Show attracts 4,000 - 6,000 visitors

4779The management of the ‘Lagoa Wine Show’ is to apply for Lagoa to become the 'Wine Capital' in 2016, according to mayor Francisco Martins following the first show at the Arade Congress Centre in Parchal from April 2 to 4.

The Easter Friday holiday helped attendance with the number of visitors variously reported as ‘nearly 4,000’ to ‘over 6,000’ depending on which publication you refer to.

Golden Visa numbers well down

GoldenVisaGolden Visa numbers fell again in March to just 87. This was 16 fewer than the 103 granted in February, but nine more than the 78 recorded in January.

The amount invested during March by wealthy foreigners buying property in Portugal, or by transferring €1 million to the country, fell by €10 million compared to February, with €54 million being spent.

BPI's offer to buy Novo Banco rejected as 'too low'

bpiThe ‘low price’ offered by Fernando Ulrich at Banco Português de Investimento (BPI) for Novo Banco, owned by the taxpayer, has been firmly rejected by the Bank of Portugal.

Under the offer terms, Ulrich can ask for ‘clarification’ of the decision anytime before the weekend but it is unlikely that he will forward a sweetened proposal or raise his price as BPI also is engaged in a complicated and distracting takeover bid from Spain’s Caixa Bank.