Algarve has 75 beaches below unstable cliffs

cliffcollapseAlbufeira alone has 24 beaches with cliffs at risk of collapse but holidaymakers appear not to be taking the warnings seriously.

 

According to the Portuguese Environment Agency, and just five years after the horrific accident Maria Luisa beach (pictured) in Albufeira in which five people died and three were injured, the dangers are still lurking with 24 high risk areas identified.

Portugal´s national debt rising rapidly

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Portugal´s national debt again has risen, reaching 134% of GDP at the end of June, an increase of 1.6% in the quarter from March.  

According to data from the Bank of Portugal´s Statistical Bulletin, public debt in March was 132.4%, which in real money is €220 billion. At the end of the first half to the end of June this had risen to €223 billion.


New Bank, New Image

besBanco Novo´s new management has commissioned an advertising campaign for its new corporate image - starting next Friday.

 

The branch image will change from the old BES livery to Novo Banco´s over  a short period of time as Vitor Bento is keen the shed the burdens of the past with a new look.  

Mobile phone tax raised

musicThe government has approved and signed off an amendment to Portugal´s Private Copying law which aims to increase the tax revenue from the sale of mobile phones, tablets, sticks and hard drives and pass them on the artists.

 

The amendments follow the signing of the original law passed last January.

Sir Cliff pulls out of engagements

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Sir Cliff Richard decided against accepting the Keys to the City of Albufeira at a public ceremony held this week due to the current suspicion circulated by British police that he was involved in a sexual assault in 1985.

The pop star and long-term Algarve home owner was to have received the honour in a ceremony this Wednesday which went ahead to award other recipients with the city´s highest accolade.


Montepio under pressure in Bank of Portugal audit

eurozoneThe chairman of Montepio, Tomás Correia, has accused a member of the General Council of Montepio, Eugénio Rosa, of lying to customers and associates in the statements he published on his personal website, which accuses the current administration of mismanagement.

Montepio claims that its exposure to the collapsed Espirito Santio Group is "properly provisioned."

Mexicans bid for Espírito Santo Health

hospitalchartGrupo Ángeles, registered in Mexico, has offered €4.3 per share for Espírito Santo Saúde which values ​​the company, still controlled by the Espírito Santo Group, at €411 million.

Ángeles, the largest private healthcare company in Mexico, launched its public tender offer for the Portuguese company, a welcome events for bankrupt Rioforte, part of the Espírito Santo Group, which has sought protection from creditors as its affairs are wound up.

Praia da Marinha, Lagoa, voted into the CNN top 20

praiadamarinhaPraia da Marinha beach in the municipality of Lagoa has been named one of the world’s '20 Most Stunning Cliffside Beaches' by CNN, the American news service.

The Algarve favourite was the only beach in Portugal to be featured by CNN which commented, “sandy stretches that meander slowly and serenely into gentle waves are lovely.