The Fábrica do Inglês and the Cork Museum, both on the same site in Silves, have been auctioned off.
The complex closed in 2009 due to overwhelming debts of the owner which had turned the old cork factory into a restaurant, leisure complex and Cork Museum.
A delay of over a year in finalising the sale of the old Lagos train station is hampering the opening of a café and art gallery by a British couple.
The old station building was opened in 1922 but has been derelict for eight years until its sale in March 2013 to a British couple resident in Lagos.
Spain is to undertake several initiatives to help stimulate the economy and to reduce the tragic unemployment rate.
A key measure will be the reduction of corporation tax from 30% down to 25%.
Amidst all the sharp power it is exercising, HMRC has been sending letters asking savers to explain why their “effective rate of tax” is lower than the national average.
In the letters HMRC says: “Looking at the figures in your self assessment tax calculation for the tax year ended, we can see that your effective tax rate is lower than average for people with a similar amount of income to you. This could mean that there is something wrong with your tax return.”
After a long-awaited drop in prices, fine Bordeaux vintage wines are again being south after, particularly by rich investors in Asia.
Demand for exclusive Bordeaux, such as Petrus and Chateau Margaux, has already risen by 30% in Asia this year.
The long-awaited and much criticised Environmental Impact Statement relating to the proposed IKEA site near Loulé will be decided on in the first half of July and a decision published.
The pro-business Committee for Coordination and Regional Development of the Algarve today announced a short deadline for its decision and it is hoped that members will have had time properly to read the document and debate the potential impact and options available.
At least 55,000 illegal immigrants sought refuge in the EU during the first four months of 2014. Of these, nearly 26,000 made the dangerous sea crossing from Libya. But significant numbers are also coming from Afghanistan, Eritrea and Albania.
The sharp rise is four times as many as gained entry in the same period of 2013.
While property prices in most parts of Spain have suffered dramatic falls, houses in Majorca have seen regular increases in value.
Luxury property in the Balearics has never lost its appeal, but prices in Majorca grew by 16% over the past year, outstripping even the sexiest of London boroughs, including Kensington and Chelsea and Westminster.
