Bank of Portugal is stifling Fintech start-ups

atmDespite the Bank of Portugal’s attempts to push a fledgling technology start-up out of the cosy ATM transfers market, Easypay is to set up 50 of its own ATMs this year and will enter six overseas markets by the year end.

Easypay’s ATMs will be branded ‘abypay’ and the company is the first Portuguese competitor for the increasingly expensive Multibanco network.

Volta ao Algarve: Amaro Antunes wins Stage 5 - Roglic wins overall

VoltaAoAlgarveAmaro Antunes (W52/FC Porto) gave the home crowd at the Volta ao Algarve something to celebrate as he surged to victory atop the Alto do Malhão on the fifth and final stage, writes Cycling News.

The 26-year-old put in a blistering attack with just over 1km to go on the summit finish and had ample time to celebrate the biggest win of his career.

Portimão council took an average of 1,683 days to settle invoices last year

portimaocamaraPortimão council led the list of slow payers last year with an average invoice settlement period of 1,683 days, nearly five years.

The council, rightly in this case, blamed the last administration which, under the mad-cap regime of Manuel da Luz, went on a wild spending spree with little to show for its insane largesse.

Death toll rises sharply on Algarve roads

accident125From the beginning of the year to February 15th, there have been 1,005 accidents on the Algarve's roads with seven deaths, according to data from the National Highway Safety Authority.

The number of crashes increased on the same period in previous years with 894 accidents in 2015 and 929 last year.

Italy must tackle the crisis legacy of poverty and inequality

italyPortofinoItaly has been told that it must implement reforms to end poverty and restore greater equality in its society.

The toll of the economic crisis on Italy included a five-fold surge in child poverty and serious disparities in income and education, according to a report from the OECD published last week.

Cycling results: Volta ao Algarve - Greipel wins stage 4 sprint

VoltaAoAlgarveAndré Greipel claimed his second victory of 2017 at Volta ao Algarve on Saturday in Tavira, Portugal. Lotto – Soudal’s German speedster beat his countryman John Degenkolb (Trek – Segafredo) after 203.4km of racing. Dylan Groenewegen (LottoNL – Jumbo) was third in the bunch gallop on the race’s penultimate day, writes velonews.com..

“Jürgen [Roelandts] led me to the wheel of Arnaud Démare in the last kilometer,” Greipel said. “I lost some positions when Richeze took Gavria to the front. I did a long and fast sprint and was lucky to get the wheel of Degenkolb. I beat him on the line. It was a nice sprint to watch I think.”

Portugal charges Angola's Vice-president with fraud, bribery and money-laundering

ManuelVincenteAngola’s Vice President, Manuel Vicente, has been charged by Portugal’s public prosecutor with fraud, bribery and money laundering.

The allegation that will be unravelled in court is that Manuel Vicente paid bribes of around €750,000 to have a case against him disappear.

Albufeira Marina development looking for investors

albufeiramarinaThe second phase of a project to develop the multi-coloured Albufeira Marina has been given the go-ahead by the council with a start date in March for an eight month project.

A budget of €5 million will see the infrastructure laid down for a 73,000 m2 mixed development of shops, hotels, apartments and green space with a ‘romantic garden’ containing a waterfall flowing into the current marina.