Machico Gastronomic Week. Rali Vinho da Madeira. BCP bank losses.

Machico Gastronomic Week

Machico Food Festival

The popular Semana Gastronómica starts this weekend in Machico – the 31st occasion on which it has been held (photo from the Diario)

Machico foof festival Facebook linkThe “week” actually lasts ten days from its opening last night, and is one of the most successful events on the island, drawing large crowds to the attractive, largely undeveloped, seaside town. Apart from the delicacies on offer there is lots of live music. There is a Facebook page – link opposite.

Rali Vinho da Madeira

Rali de Vinha Madeira logoThe Madeira Wine Rally also takes place this coming week with 50 teams competing. Photos and videos of previous events here, and a list of stages and road closures on their own, appallingly bad, website. Found it very difficult to find a simple straightforward timetable of what happens where and when between the 4th and 6th of August – if somebody finds one please post a link. There are, however,  a number of signs appearing around the city centre which should give some clues.

Bank Stress Tests

The Wall Street Journal reports that regulators yesterday gave most European banks a clean bill of health in “stress tests” despite the Continent’s sluggish growth and low interest rates, saying only a clutch of lenders would struggle to ride out a hypothetical severe economic downturn. The European Banking Authority released the results its latest stress test showing how much capital, or cushion against losses, banks would have left on their balance sheets in an adverse economic scenario. Most concern was focused on Italian Banks as expected, but many smaller banks were not included in the analysis – including most Portuguese banks (only the results for 51 banks were published, although another 56 were tested).

BCP losses

Millennium BCP logoPortugal’s largest listed bank, Millennium BCP, said on Friday it obtained “clearly positive” results in the latest stress test by the European Central Bank, even as it posted a first-half loss after impairments for bad loans to clean up its books. BCP, whose shares have lost over 60% of their value so far this year due to concerns about its capital needs, said in a statement that its common equity Tier 1 phased-in ratio was 7.2% under the adverse scenario, up from 2.99% in a stress test carried out in 2014. BCP said it had a net loss of 197 million euros in the first half, after a profit just a year ago, due mainly to the booking of additional one-off impairment charges of €211 million to increase loan coverage.

Norwegian Air

By all accounts a very good operator between Gatwick and Funchal returns in October with two flights weekly – currently on offer at very attractive prices (sterling below). Not quite sure why they stop operating during the summer months – presumably it is more profitable to send their planes elsewhere?

Screenshot of Norwegian air price schedule

6 thoughts on “Machico Gastronomic Week. Rali Vinho da Madeira. BCP bank losses.”

  1. Loja do cidadão do Funchal – Horários

    A Loja do cidadão do Funchal, na Avenida Arriaga, Edifício Arriaga, n.º 42 A, tem o seguinte horário de funcionamento:

    Dias úteis: das 08:30h às 19:30h;

    Sábados: das 08:30h às 13:30h

    Caso pretenda caontactar esta loja do cidadão, o telefone é o seguinte:

    – telefone: 291 212 200


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