Olhão raises water charges to halve €2.2 million subsidy

sewagepipeWater charges have shot up in Olhão in an attempt to stem losses from the municipal company AmbiOlhão which runs the leaking service.

Water, sanitation and waste charges also are on the move as Olhão mayor António Pina aims to reduce the annual subsidy paid by ratepayers to water users of €2.2 million.

“Best wine in the world” goes to Spanish bodega

vinesWine from a small bodega in Spain has been named the best in the world, according to a specialist magazine in China.

Marco Abella comes from the mountainous area of Catalonia in the winemaking district of Priorat. About 80,000 bottles of wine are produced every year, selling in the US, China and Catalonia.

Millennium BCP lost nearly €600,000 a day in 2014

millenniumMillennium BCP’s recorded losses for 2014 were a depressing €217.9 million, an average of almost €600,000 per day.

This brings the total audited loss for the last two years to €958.4 million.

Expat residency rules tightened in Turkey

turkeyvisaResidency permits in Turkey could be revoked if expats there spend more than four months out of the country.

The new measure could curtail residence permit for foreigners who leave Turkey for more than 120 days every year.

Socialist chief visits the Algarve to speak of poverty

antoniocosta3The head of Portugal's Socialist Party attended a lunch in the Algarve this weekend and spared the coalition government nothing in a damning résumé of its failures.

António Costa took the opportunity to talk of a new poverty within Portugal as being a statistical reality and that the Government’s austerity programme has failed to promote growth or pay down public debt as promised

Sagres goes for European Heritage recognition

sagresfortThe Promontory of Sagres, which includes the fort, is already a classified monument but now has been selected, along with the Mértola Village Museum, to be put forward for consideration as a European Heritage site.

These sites are approved if they define and epitomise European values and civilisation as a celebration of European integration, ideals, values and history.

Portugal's chief debt collector arrested for embezzlement

gavelThe head of Portugal’s debt enforcement agency has been arrested and is now under house arrest.

Francisco Duarte was arrested by the National Anti-Corruption Unit of the Judicial Police, after searches were carried out in Lisbon, Viseu and Cascais.

Diamond prices dip

DIAMONDPINKPetra Diamonds, owner of the famous Cullinan diamond mine in South Africa, said that diamond prices fell nearly 9% in the last six months.

Its CEO said that prices for rough diamonds have tailed off because banks have tightened lending to the sector.