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Today's News

Theresa May resigns - Boris aims for premiership

TheresaMayUK prime minister, Theresa May said on Friday morning she would step down due to her failure to deliver on the people’s vote to leave the European Union.

The game is on to select a new PM with Boris Johnson in the running to deliver on Brexit.

Portugal's fleet lands 35% more fish in the first quarter

fishingNorthSeaThe Portuguese fishing fleet has significantly increased its catches in the first three months of the year, especially in March.

The monthly statistical report from the Government states that landings increased by 35% in the months from January to March, 2019.

Algarve mega-developments audited

salgadoscrowdsDevelopment projects in the Algarve, that are under construction or being started and which have been subject to an environmental impact assessment, are being audited.

This process is designed to verify that developers have been following the environmental rules.

2013 'Swaps' blunder - no case to answer

albuquerque1In 2013, in the midst of the financial crisis, alarm bells sounded when it was discovered that some public companies - such as Carris, Metro de Lisboa, Refer and Metro do Porto - had contracted ‘swaps’ with Santander Totta.

This complex financial instrument, a form of bizarre gamble to cater for possible interest rate rises, backfired badly when interest rates fell to historic lows, costing the companies millions in additional interest payments at upto 200%.



Algarve Daily News