The Algarve’s EN125 road is in ‘a state of war’

accident125The Algarve’s anti-toll campaigning group CUVI said today that it is essential now to end the ruinous toll system on the Algarve’s Via do Infante, adding that the tolled road has turned the so called alternative route, the EN125, into a battleground with in excess of 20 accidents a day.

CUVI has issued a list of forthcoming actions to highlight the tolls situation at a time when “with the arrival of summer the Algarve’s traffic volume has increased on the chaotic and very dangerous EN125.

Shaken not stirred

ginBritish gin is being promoted by British embassies around the world in an effort to boost sales abroad.

While whisky exports account for £4 billion, gin has a lot of catching up to do. Although the UK is the world’s leading exporter of gin, the spirit was responsible for just over £380 million in 2014.

More Via Algarviana waffle leaves route with an uncertain future

monchiqueThe president of the Intermunicipal Community of the Algarve (AMAL) said today that the management model of the Via Algarviana walking route will be discussed "at a meeting in September" and is sure the problem will be solved.

"Right now, what I want is that the mayors to open negotiations and talks on a management model" that they all agree on, according to AMAL’s president, Jorge Botelho.

Campaigner murdered on live radio

gunA Brazilian anti-corruption radio broadcaster has been gunned down in the midst of his live programme.

Two gunmen burst into the Radio Liberdade studio while Gleydson Carvalho was on air and shot Carvalho three times in the head and twice in the chest. He was pronounced dead on the way to hospital.

EN125 death toll climbs with Lagoa accident

en125postThe traffic once again could use the EN125 at 15.45 this afternoon -  the road had been closed since 13.00 due to an accident that left two dead and four seriously injured.

The accident at Sítio do Carmo, Lagoa in front of the Pina garden centre on the notoriously overly-busy main road caused miles of tailbacks with road use already at a summertime high.

BES directors' €13.5 million pension payments "may have to end"

salgadoBESIt's official, Banco Espírito Santo has no money, putting at risk the pension payments made to its former directors, many of whom helped run the company into the ground.

The pensioned Directors have been costing €13.5 million a year with the retirement pay of Salgado coming as a nasty reminder to many who lost everything in the BES collapse that bankers look after themselves first and their customers last.

Finland hardens stance against Greek bailout

greekbankFinland is retaining its tough line on Greece’s third bailout, but says it could stay out of a deal.

The country already had steely opposition to any bailouts in the eurozone, but that line hardened further after last April’s election when the eurosceptic party, The Finns, joined a new centre-right coalition.

Only one higher offer received for Novo Banco purchase

novobancoOnly one of the three potential buyers of Novo Banco decided to raise its offer - Apollo Global Management's private equity divison.

At the close of the enhanced offer deadline last Friday, Novo Banco’s Stock da Cunha received only one enhanced offer for the good parts of collapsed BES.