Airport management company ANA licensed to print money

bejaPortugal’s airports saw passenger numbers grow 4.9% in 2013 compared to the year before.

According to figures released on Wednesday by the National Statistics Institute, 32.6 million passengers used the nation’s airports last year.

Fracking millionaires

gasThe controversial practice of fracking has turned a number of landowners in the US state of Texas into overnight multi-millionaires.

In recent years, this new technique has changed the whole reality of natural gas acquisition in the US.  Access has been opened up to vast reserves of gas contained in shale rock.

Portugal's public transport companies let down by Tax Authority

trainPortugal’s public transport companies were delighted when the tax department took over the task of collecting fines from travellers who had been caught without a ticket.

The system changed in January 2014 but the tax office has not yet got around to billing these miscreants, leaving millions of euros of fines uncollected.

Faro island bridge project includes summertime car ban

farobridgeThe civic alliance ‘Save Faro’ today announced that it has submitted a report to the Public Ministry about the project to build a new bridge to Faro island, a project which includes preventing non-resident traffic in the summer months.

"It is inconceivable and absurd that a work with an astronomical cost of €4 million partly paid for by Faro council will entail prohibiting non-residents getting to the island by car in the months of June, July and August," read the statement from the alliance.

Algarve’s ‘most wanted’ arrested in Alcoutim

pspOfficers from the Judicial Police have arrested a man who has been on the run, known in the criminal world as ‘Fábio Cigano,’ the Algarve's most wanted criminal who has run rings around the authorities for months as he moved between Portugal and Spain.

The detainee already has been accused of kidnapping, drug trafficking and possession of prohibited weapons used in crimes which were committed between January and June 2014 but was on the run rather than face court.

Audit at Portimão council too little too late

portimaocamaraPortimão council and the Lisbon accountancy company Abreu e Cipriano today signed a contract for an audit of the council’s finances between 2009 and 2013.

The management audit of Portimão council aims to result in a report and technical advice on the organisational structure, including procedures, an evaluation of internal control systems, the legality of accounting records, compliance and an analysis of financial statements for the financial years relating to the five year period 2009 to 2013.

Prospectus for Novo Banco 'by the end of September'

bessalgadoarrestWith indecent haste and the corpse of BES not yet cold, the Bank of Portugal has annoounced that it will decide the method of selling Novo Banco by the end of September.

Portugal’s central bank wants first to see which potential buyers are really interested in taking on the good part of the old BES and then it will announce the type of sale for what it still claims are the good bits held in Novo Banco.

2015 - less tax, more babies

cash"The fight against tax fraud can be decisive in reducing income tax." Without committing to lower income tax for 2015, the Secretary of State for Fiscal Affairs Paulo Nuncio said today that there had been a huge increase in the tax take this year as a result of his anti-fraud measures, which gives him a degree of flexibility.

The contribution to the exchequer from Nuncio’s clamp down on tax evasion and his pursuit of those engaged in the underground economy has meant record tax receipts which may be decisive in the decisions that the Government takes over income tax for 2015.