The Financial Times reported today that, in its well-informed opinion, Novo Banco will be sold to a Chinese bidder.
The sale will yield more than €4 billion with Anbang Insurance and Fosun International vying for the bank formed last August as part of the Bank of Portugal’s 'resolution' when Banco Espírito Santo went bust.
Brits are busy spending again after the confines of the Great Recession and there is only one country where people spend more on children’s toys.
The average British consumer forked out £508 on toys and games for each child in 2013.
Faro council has managed to put on a brave face as it announced the reopening of a vital link into the city
The Penha road was closed due to works involving the northern Faro bypass, and its reopening has been lauded by the city hall as "good news for the people of Faro, despite the delay of 1,460 days."
The official swimming season has started along Portugal’s coast with designated beaches having life guards in place and concessions looking forward to a record year.
The dangers of swimming pools again are in the news as two families already have suffered the tragedy of having a toddler drown.
Britain’s housing shortage could be alleviated by the sale of properties owned by a significant number of older people.
Nearly one-third of homeowners over the age of 55 – which is 3.3 million people - said they have considered downsizing to smaller properties in the last five years.
The first-ever wreckage of a ship that went down with slaves on board has been found just 100 yards off the coast of South Africa where it sank in 1794.
The Portuguese ship, Sao Jose-Paquete de Africa, set out from Mozambique Island with more than 400 slaves shackled in its hold in December of that year, bound for Brazil's sugar plantations, but it fell well short of the 7,000-mile journey, the New York Times reports.
The governor of Gibraltar has announced that he intends to resign from his post.
Sir James Dutton has served as governor only since December 2013. His predecessor had been in post for four years.
Mácario Correia has been accused of illegal issuing a license to build a house in an ecologically sensitive area. The maximum sentence, if he is found guilty, is 8 years in prison.
The prosecution’s case against Tavira and Faro’s former mayor is that Correia gave the go-ahead to build a house in a National Ecological Reserve area, overruling the 'unfavorable' opinions of two Tavira council’s technicians.
