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Tag Archives: Portuguese

Portuguese households see €1,415 two-year average hike in income tax

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LISBON: Each Portuguese household chipped in with €1,415 more IRS in 2014 than in 2012, according to a study presented by the Secretary General of the CGTP trade union confederation, Arménio Carlos. Carlos said the report focused on the inequalities and impoverishment of Portuguese and had concluded that over the aforementioned period income tax had risen 42 percent, “with households ... Read More »

Portuguese Cascais to buy Estoril Race Track worth €4.9m

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LISBON: Cascais council is to buy the Estoril race track for €4.9 million euros in a deal that Cascais Mayor Carlos Carreiras believes will boost the local economy and sectors such as hospitality. According to reports the purchase was approved in a town hall meeting yesterday despite strong criticism from the opposition who were heavily against the proposal. Mayor Carreiras ... Read More »

Portuguese govt to purchase 1,200 electric powered vehicles by 2020, can save €50m

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LISBON: The Portuguese state vehicle fleet is to contain 1,200 electric powered vehicles by the end of the decade, returning substantial savings, following the approval of a sustainable mobility programme by the Portuguese cabinet. The Minister of the Environment Jorge Moreira da Silva told journalists afterwards that this was all about the state setting the example in terms of transportation, ... Read More »

Portuguese wages cut to be return ‘gradually’: Finance Minister

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LISBON: Portugal’s finance minister has said that taxes should be reduced and wage cuts returned “gradually” over the next four years and not straight away in 2017 as the opposition proposes. “When we look towards the next four years, we can see there are real conditions to improve people’s living conditions, reduce unemployment, cut taxes and return the wage cuts ... Read More »

Portuguese car sales surge to 31.4% to total 21,053 units once again May: ACAP

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LISBON: Vehicle sales rose by 31.4 percent year on year in May to total 21,053 units, ACAP – the Portuguese Automobile Association – reported this week. The ACAP press release said that thus far this year the five-monthly vehicle sales total stood at 92,605 units, up 30.3 percent on 2014. Passenger vehicle sales rose 33.1 percent year-on-year in May to ... Read More »

Portuguese car sales surge to 31.4% to total 21,053 units once again May: ACAP

new cars

LISBON: Vehicle sales rose by 31.4 percent year on year in May to total 21,053 units, ACAP – the Portuguese Automobile Association – reported this week. The ACAP press release said that thus far this year the five-monthly vehicle sales total stood at 92,605 units, up 30.3 percent on 2014. Passenger vehicle sales rose 33.1 percent year-on-year in May to ... Read More »

Portuguese Opposition reject move to cut current pensions, save €600m

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LISBON: Portugal’s opposition Socialist Party (PS) on Tuesday ruled out its backing any move on the part of the right-of-centre government to save €600 million by trimming the pensions of people who have already retired. The position was announced by a deputy chairman of the parliamentary party, Vieira da Silva, who accused the government of trying to “hide behind the ... Read More »

Portuguese Opposition reject move to cut current pensions, save €600m

pesions

LISBON: Portugal’s opposition Socialist Party (PS) on Tuesday ruled out its backing any move on the part of the right-of-centre government to save €600 million by trimming the pensions of people who have already retired. The position was announced by a deputy chairman of the parliamentary party, Vieira da Silva, who accused the government of trying to “hide behind the ... Read More »

Portuguese TAP privatisation immediate cash injection of €325m

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LISBON: One proposal for the privatisation of the Portuguese flagship carrier TAP promises immediate cash injection of €325 million, according to business magnate Miguel Pais do Amaral, when describing the bid made by the consortium he leads. In a statement on Tuesday, Pais do Amaral said his consortium named Quifel featured “large scale international financial investors with high levels of ... Read More »

Portuguese TAP privatisation immediate cash injection of €325m

tap

LISBON: One proposal for the privatisation of the Portuguese flagship carrier TAP promises immediate cash injection of €325 million, according to business magnate Miguel Pais do Amaral, when describing the bid made by the consortium he leads. In a statement on Tuesday, Pais do Amaral said his consortium named Quifel featured “large scale international financial investors with high levels of ... Read More »

STDM Portuguese casino operations lose MOP18.5m

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LISBON: Sociedade de Turismo e Diversões de Macau (STDM) casinos in Portugal recorded losses of MOP18.5 million (1.74 million euros) during 2014. The group cited decreasing gaming revenue and increasing taxes as the reason. In Portugal, STDM’s subsidiary Finansol – Sociedade de Controlo SGPS S.A. controls casinos in Estoril, Lisbon and Póvoa de Varzim via holding company Estoril Sol SGPS ... Read More »

Portuguese Fred Olsen Cruise Lines to base 1,350 guest in Newcastle in 2016

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LISBON: Fred Olsen Cruise Lines (FOCL) will base its 1,350-guest Balmoral ship in Newcastle for the first time in 2016. The company has more than 100 years of heritage in running passenger services from the Port of Tyne, and has been operating regular cruise calls from Newcastle since 2006. From May to August 2016, Balmoral will offer 11 departures from ... Read More »

Portuguese Customs detains 2 drug traffickers, 700gms drug

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LISBON: Portugal’s Customs authority, SEF, has intercepted at Lisbon airport two foreign citizens suspected of drug trafficking, the authority announced on Monday in a statement. The pair, a 34-year-old woman and a 25-year-old man, had travelled from the city of Belém in Brazil’s Amazonas state. They were detained by SEF guards on Sunday when their documents were being checked. The ... Read More »

Portuguese flag carriers group TAP ends 2014 with losses of €85.1 million

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LISBON: Portuguese flag carriers group TAP ended 2014 with losses of €85.1 million, a massive €79.2 million more than the €5.9 million seen in 2013, because of poorer air transport earnings, the company said. Manutenção e Engenharia Brasil recorded a loss of €22.6 million which was some €17.7 million better than the previous year and is now in the fourth ... Read More »

Portuguese firm wins contract to build 50,000 homes in Venezuela

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LISBON: Portuguese construction company Lena, from Leiria, has managed to win a contract to build 50,000 homes, as part of an enormous project to construct a new city in Venezuela. The lucrative contract involves building a city in Ocumare, 60km from Caracas, with the project part of government plans in the country to provide 2 million of the poorest people ... Read More »

Portuguese raspberries exports hit €64 million in 2014

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LISBON: The raspberry was the second most important Portuguese fruit export by value in 2014 and attained export revenues of €64 million according to a recent study by Pedro Brás de Oliveira, of the National Institute of Agricultural and Veterinary Research. Raspberries climb to second highest in Portuguese fruit exports The study sets out the strategic framework for the 2014-2020 ... Read More »

Portuguese authorities receive green signal from EC for bank restructuring

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LISBAN: The Portuguese authorities have got the approval from European Commission for the plans regarding CGD and BPI about the plan to restructure BCP. The European Commission (EC) announced on Wednesday that the plans to restructure the Portuguese state-owned Caixa Geral de Depósitos (CGD) bank and two private banks in the country, Banco Português de Investimento (BPI) and Banco Comercial ... Read More »

Cocaine worth £50,000 hidden in hair extensions confiscated

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BRAZIL: A mother attempted to smuggle cocaine worth 50 000 pounds in hair extensions i.e. by hiding it in her wig. The women who is said to be a Portuguese had nine packets containing a whopping 880 grams of the class A drug interwoven with her hair. She was stopped by members of the National Police shortly after she arrived ... Read More »

Apollo Global may bid for Portuguese bank Novo Banco

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LISBON: Apollo Global Management Limited Liability Company (LLC), a private equity firm is considering making a bid for Portuguese lender Novo Banco SA, the bank carved out of Banco Espirito Santo SA (BES). Apollo agreed to buy insurer Tranquilidade from Novo Banco in September for an undisclosed amount, plans to submit an indication of interest for the whole bank. Novo ... Read More »