A reported 25% of the Algarve’s pharmacies are insolvent or have official charges over their assets (penhoras), according to a statement from the National Association of Pharmacies.
The study released today shows that the number of pharmacies in Portugal that are insolvent, or that have penhoras attached to their assets, continues to rise with a five year increase of 145% showing the financial difficulties the sector faces.
Unsurprisingly, the Left Bloc has questioned the Government on the criteria it used in deciding board appointments at TAP as only one of the seats allocated to the State is to be occupied with someone with experience in the air transport sector.
In a question addressed to the Ministry of Planning and Infrastructures, the Left Bloc’s Heitor de Sousa demanded that in future anyone appointed to the boards of companies in which the State has a shareholding should be scrutinised by parliament.
The management of Douro Azul, the Oporto area’s most influential and successful boat owner and operator, has demanded that parliamentary immunity for MEP Ana Gomes be withdrawn so she can answer for her comments in the press that the company was involved in corruption.
The European Parliament received the official request following a formal complaint from the Douro Azul group about statements Gomes had made about the company’s purchase and subsequent sale of the Atlântida ferry.
After the purchase by Santander of Banco Popular, two more Spanish banks are in trouble.
The Santander purchase of Banco Popular, for a nominal €1, is being followed up by a €7 billion rights issue to bolster Popular’s finances.
Polis Litoral Ria Formosa Society, the company responsible for the demolition programme affecting hundreds of Ria Formsa island properties, is spending some money on Faro Island to sort out the dunes and install an 800 metre long walkway.
The dunes’ vegetation is always getting trampled over as people go to the beach and house owners go to and from their beachside properties.
A round of grants has been agreed under the Algarve 2020 programme as the region bites into the €318.7 million on offer from the European Regional Development Fund and the European Social Fund.
The latest disbursement of €6.4 million to institutions and companies in the Algarve region went primarily to cultural heritage projects (€3.6 million) including the refurbishment of the Cineteatro António Pinheiro in Tavira, the Solar Gama Lobo in Loulé as well as covering smaller projects being undertaken by local councils.
Two news items relating to the Alojamento Local (AL) registration system for those property owners involved in short-term lettings to tourists further have reduced the chances of anyone registering without being forced to.
Owners who have their AL licence and who later remove their property from the scheme, for whatever reason, then are liable to pay capital gains tax, whether they are selling their property or not.
Four died at Portugal’s beaches as the country celebrated the Portugal Day weekend with many families heading to the cool of the rivers and the sea as temperatures in many inland areas hit 40°C.
Two young men who were playing ball at Praia da Baía in Espinho, on the coast to the south of Oporto, were swept away by a wave as they entered the water to retrieve their ball. Both are still missing with no chance of finding them alive.
