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☆ Barcelona is banning Airbnbs. Other European cities have cracked down already — with some success.
▼ + stars: | 2024-08-11 | by ( Eliza Relman | Dan Latu | ) www.businessinsider.com time to read: +8 min

Many experts say short-term rentals, including Airbnbs, are part of the problem, restricting local housing supply and driving up prices. We took a look at three European hubs — Lisbon, Florence, and Amsterdam — that have imposed relatively strict regulations on short-term rentals. Cities have been worried about the impact of short-term rentals on housing costs for years. Instead of a blanket ban, Amsterdam caps the number of nights hosts can rent out their homes at 30 a year. In an increasingly tight housing market, the dominance of short-term rentals acts as an "amplifier," he said.

Persons: —, Airbnb, Lisbon's, João Pereira dos Santos, Pereira dos Santos, Gregory W, Fuller, Florence, Florence's, Dario Nardella, Antonello Romano, Romano Organizations: Service, Business, New York, School of Economics, Finance, Queen Mary University of London, University of Groningen, Wall Street, University of Pisa Locations: Barcelona, Barcelona's, Spanish, New York, Tokyo, Vancouver, London, Paris, — Lisbon, Florence, Amsterdam, Lisbon, New York City, EU, Portugal, Netherlands, Venice

☆ London's hedge fund rich are looking to avoid new taxes by relocating to Milan and Dubai. People who have made the move tell us what it's like.
▼ + stars: | 2024-07-31 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +9 min

AdvertisementSeveral cities have been trying to take advantage of the new policy, including Dubai, Milan, and more. A recently relocated hedge fund manager in Milan is planning to visit London or New York six or seven times a year going forward. "The best type of knowledge comes from people, from frequent interaction with people," said a Milan-based hedge fund manager. Several people — based in spots such as Dubai, Milan, and Zurich — mentioned that people early in their careers should still prioritize working in the biggest cities though. Moving to the Middle East just to interact with fellow UK ex-pats doesn't add much diversification to a portfolio manager's life.

Persons: —, Julian Robertson, Muyshondt, Elena Partners, Steve Cohen's Point72, Sebastian Dickgiesser, Girish Chouhan, aren't, COVID, I'm, Alfonso Peccatiello, he's, Darren Wolf, abrdn, It's, Wolf, Zoom Organizations: Service, Tyrian Investments, Business, Labour, Henley & Partners, United Arab, Eisler Capital, Capstone Investment Advisors, Getty, London, Investors, —, pats Locations: New York, Cascais, Portugal, Lisbon, London, Florida, Hong Kong, Dubai, Milan, China, United Arab Emirates, Italy, Point72, Girish Chouhan Dubai, Abu Dhabi, India, East, Europe, Madrid, Zurich, Amsterdam, Netherlands, Brera, —, Milan's Brera, UAE

☆ I booked a weeklong trip to a mystery destination. I had a lot of fun, but I'd do a few things differently next time.
▼ + stars: | 2024-06-20 | by ( Andrea G. Preziotti | ) www.businessinsider.com time to read: +6 min

The company then sent me a trip proposal, which provided a few clues about the city I'd be traveling to. Related storiesBecause the tour company didn't note the terminal information on the envelope, I had no choice but to open the card in the car, which was underwhelming. Andrea G. PreziottiI also enjoyed the other trips Journee booked for me, including a drive along the countryside to a small village southeast of the city. Andrea G. PreziottiAlthough I enjoyed the group excursions, I worried that I wouldn't have enough time to explore the city on my own. Next time, I would book with a friend and have a more direct conversation with the tour company about having more time for independent exploration.

Persons: —, Booking.com, Andrea G, Preziotti, Journee, hadn't Organizations: Service, Business, Newark Airport, UNESCO, Fado Museum Locations: Newark, Lisbon, Alcântara

But industry experts say governments need to offer incentives for companies to bring sustainable AC technologies to market and scale up. Removing humidity requires cooling air to the point at which water vapour becomes a liquid to be drained. This inability to get rid of humidity without first cooling the air makes conventional ACs less efficient. The company's AC prototype uses these materials to dry out air, aiming to produce fewer emissions than traditional ACs. More than 1 billion people living in warm climates still lack access to cooling, according to nonprofit Sustainable Energy for All.

Persons: Pedro Rodriguez, Susana Vera, We've, Lily Riahi, Riahi, Sorin Grama, Grama, Gree, Daikin, Miki Yamanaka, Larissa Gross, UNEP's Riahi, Baolong Wang, Wang, Xavier Moya, Gloria Dickie, Katy Daigle, Simon Jessop, Josie Kao Organizations: Puerta del, REUTERS, Rights, International Energy Agency, United Nations Environment Programme's, Cool Coalition, Massachusetts Institute of Technology, Daikin's Global Environment Center, Sustainable Energy, Tsinghua University, University of Cambridge, Reuters, Thomson Locations: Puerta del Sol, Madrid, Spain, Seville, Europe, Spanish, Beijing, Indonesia, Britain, U.S

Andre Azevedo Alves, political science professor at Lisbon's Catolica University and St Mary's University in London, said the corruption investigation was a "very strong blow" to any PS ambitions. Analysts agree the PSD is likely to come out on top, but doubt its ability to build enough support to form a stable government. "Assuming the likelihood that the PSD will not have (enough) votes to form a government without Chega... we may go from one political crisis to another," Alves said. Waiting for a bus in central Lisbon, Ana Bernardino, 23, vented her concerns about the political outlook. "It is a political crisis and in my opinion it's a bit frustrating that elections are being held again...I'm a bit afraid."

Persons: Marcelo Rebelo de Sousa, Antonio Costa, illegalities, Costa, Costa's, Intercampus, Andre Azevedo Alves, Andre Ventura, Luis Montenegro, Alves, Antonio Barroso, Ana Bernardino, Maria Ines Ferreira, Catarina Demony, Miguel Pereira, Patricia Rua, Andrei Khalip, Nick Macfie, Angus MacSwan Organizations: Socialist Party, Social Democrats, Lisbon's Catolica University, St Mary's University, PSD, Chega, Liberal Initiative, CDS, Thomson Locations: Belem, LISBON, Portugal, London, Lisbon, Europe

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWormhole Foundation EVP breaks down why Lisbon's a popular crypto havenIn a wide-ranging interview, Robinson Burkey, the Wormhole Foundation's EVP and head of strategy, sat down with CNBC Crypto World to discuss Lisbon's role as one of the world's top crypto hubs, the impact of the FTX collapse on the industry and more.

Persons: Robinson Burkey Organizations: CNBC

☆ Web Summit CEO apologises for comments on Israeli conflict
▼ + stars: | 2023-10-17 | by ( ) www.reuters.com time to read: +2 min

JERUSALEM, Oct 17 (Reuters) - Web Summit Chief Executive and founder Paddy Cosgrave on Tuesday apologised for comments he made on the Israeli-Hamas conflict that prompted some technology companies and investors to withdraw plans to attend its conference in Portugal next month. Web Summit, one of the world's largest tech conferences, will take place in Lisbon from Nov. 13-16, with attendees from companies such as Meta (META.O) and Microsoft (MSFT.O) to investors such as Atomico. "War crimes are war crimes even when committed by allies, and should be called out for what they are," wrote Cosgrave, who was born in Ireland. Among executives to have cancelled their participation at Web Summit are AI21 Labs' Ori Goshen; Tome's Keith Peiris; Sequoia Capital partner Ravi Gupta; Yinon Costica, co-founder of Israeli cybersecurity unicorn Wiz; and Y Combinator’s Garry Tan, according to LinkedIn and X posts. Philippe Botteri, CEO of tech investor Accel, said in a LinkedIn post on Monday he would no longer speak at Web Summit.

Persons: Paddy Cosgrave, Cosgrave, I’m, Leo Varadkar's, Israel, Cosgrove, Goshen, Tome's Keith Peiris, Ravi Gupta, Yinon Costica, Y, Garry Tan, Philippe Botteri, Portugal Dor Shapira, Steven Scheer, Supantha Mukherjee, Josephine Mason, Alison Williams, Mark Potter Organizations: Web, Microsoft, Palestinian, Hamas, Irish, AI21 Labs, Sequoia Capital, Thomson Locations: Portugal, Lisbon, Gaza, Israel, Ireland, Jerusalem, Stockholm, London

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFTX top engineer testifies on Sam Bankman-Fried's 'excessive' spending at Alameda: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Robinson Burkey, the Wormhole Foundation's EVP and head of strategy, discusses Lisbon's role as one of the world's top crypto hubs, the impact of the FTX collapse on the industry and more.

Persons: Sam Bankman, explainers, Robinson Burkey Organizations: Alameda, CNBC Crypto, CNBC

☆ Teams Tackling Madeira Wildfires Reinforced as Missing Tourists Found
▼ + stars: | 2023-10-13 | by ( Oct. | At A.M. | ) www.usnews.com time to read: +2 min

The Civil Protection authority on Friday morning located the missing tourists. They had fled to a cave in a mountainous part of Porto Moniz and an operation to rescue them from the area was under way, it said on social media. "It was a complicated night, a difficult night," Civil Protection secretary of state Patricia Gaspar told public broadcaster RTP at Lisbon's military airport. A few houses have been destroyed in Calheta and Porto Moniz, but no serious injuries reported so far, authorities said. Porto Moniz mayor Emanuel Camara told RTP it was a "night to forget" and that "many people" were evacuated as a precaution.

Persons: Catarina Demony, Porto, Porto Moniz, Patricia Gaspar, Carlos Teles, Emanuel Camara, Gaspar, Inti Landauro, John Stonestreet Organizations: Friday, Porto Moniz, RTP, Camara de Lobos Locations: Catarina Demony LISBON, Portugal, Madeira, Calheta, Porto, Camara, Funchal

☆ American retiree says tipping etiquette is 'very different' in Portugal: 'I've never heard anyone complain' about not getting a tip
▼ + stars: | 2023-10-12 | by ( Alex Trias | ) www.cnbc.com time to read: +3 min

But a family vacation to Lisbon, Portugal in 2015 changed our trajectory. But one of the most unexpected things about this country is how very different tipping etiquette is. Generally, tipping isn't widely practiced in all regionsIt would be unusual to tip a gardener, plumber or electrician. But in our eight years here, a waiter has only prompted us to leave a tip once or twice. I always tip 20% minimum since they are the only bar in Lisbon that knows how to make a proper Manhattan.

Persons: Furnas, Esplanada Furnas, It's, Alex Trias Locations: Washington ,, Lisbon, Portugal, U.S, Porto, Minho, Ericeira, Cascais, Portuguese, Manhattan

☆ What it's like in Europe's popular crypto haven Portugal as the U.S. cracks down
▼ + stars: | 2023-09-09 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +19 min

They understood the importance of self custody of bitcoin, bitcoin on bitcoin blockchain, not on other chains." Sunrise over Lisbon, Portugal Alexander Spatari | Moment | Getty ImagesThe San Francisco of EuropeA walk through Portugal's capital feels eerily similar to a stroll in San Francisco. "This makes Portugal a really attractive place for crypto users to live," explained Shehan Chandrasekera, a CPA and head of tax strategy at crypto tax software company CoinTracker.io. The only exception to the country's generous crypto scheme relates to companies registered in Portugal that deal in crypto. Cyclists photographed in Lisbon, Portugal, in October 2018.

Persons: Alexander Spatari, PORTUGAL —, maximalists, Lorenzo Primiterra, He's, Peter Pan, Primiterra, Terra Luna, bitcoin, solana, Greenfield, Portugal Alexander Spatari, Jemson Chan, Chan, CNBC Guy Young, Seb True, CNBC Seb, True, That's, it's, bitcoiners, I've, Stephen Knowles, cryptocurrencies, Shehan Chandrasekera, Katie Ananina, Ethena's Young, —, Deley, Deley doesn't, that's, Didi Taihuttu, They've, Taihuttu Organizations: Campo Pequeno, maxis, CNBC Software, CNBC, titans, Securities and Exchange Commission, British, Abril, European, CPA, Cyclists, European Union, D7, Companies, Algarve Locations: LISBON, PORTUGAL, Lisbon, Italy, Portugal, Almada, Lisboa Region, outranking New York, Berlin, Singapore, European, Sunrise, San Francisco of Europe, San Francisco, bitcoin, Europe, Crypto, U.S, Egypt, Asia, Switzerland, it's, Puerto Rico, Australia, Canada, Ghent, Belgium, cryptocurrency, Cryptocurrencies, Lisbon's, Lagos, Angeles, Algarve

[1/7] Pope Francis attends the "Stations of the Cross" procession with young people at Parque Eduardo VII during his apostolic journey to Portugal on the occasion of the XXXVII World Youth Day, in Lisbon Portugal, August 4, 2023. Vatican Media/Handout via REUTERSLISBON, Aug 4 (Reuters) - Hundreds of thousands of young people reflected on their anxieties, enslavement to the "tyranny" of social media and yearning to save the planet at a huge outdoor rally with Pope Francis on Friday. SCAFFOLD DANCINGPeople performed modern dance routines that included dangling from scaffolding above the pope as they moved a large cross around a structure that resembled a construction site. When the meditation about climate change was read, they donned gas masks as white smoke simulating air pollution engulfed the scaffolding. Francis started Friday by hearing the confessions of three young Catholics, from Spain, Italy and Guatemala, in one of the parks hosting the festival.

Persons: Pope Francis, Parque Eduardo VII, Edward VII, Jesus, Francis said, Francis, Philip Pullella, Louise Heavens, Leslie Adler Organizations: Parque, Vatican, Handout, REUTERS, Catholic, Thomson Locations: Portugal, Lisbon Portugal, REUTERS LISBON, Via, Catholic Woodstock, Lisbon, Spain, Italy, Guatemala

A billboard denounces children sexual abuse by members of the Portuguese Catholic church during the XXXVII World Youth Day celebrations in Lisbon, Portugal, August 2, 2023. REUTERS/Catarina DemonyLISBON, Aug 2 (Reuters) - A huge billboard raising awareness of sexual abuse by clergymen was put up overnight in Lisbon, just hours before Pope Francis was due to arrive in the Portuguese capital for the world's largest gathering of young Catholics. The World Youth Day event was devised by the late Pope John Paul II for Catholics in their teens or early 20s and is held every two or three years in a different city. Lisbon Patriarch Manuel Clemente said on Monday the Portuguese church's commitment to tackle clergy sexual abuse was "total". Two other billboards were put up in the nearby municipalities of Loures and Oeiras, where events related to World Youth Day will also take place.

Persons: Catarina Demony LISBON, Pope Francis, Pope John Paul II, Francis, Almirante Reis, Manuel Clemente, Catarina Demony, David Latona, Alison Williams Organizations: Portuguese Catholic, REUTERS, Catholic Church, Thomson Locations: Portuguese, Lisbon, Portugal, Loures

[1/5] Cookies with Pope Francis images are seen in a bakery ahead of his apostolic journey to Portugal on the occasion of the XXXVII World Youth Day, in Lisbon, Portugal, July 26, 2023. REUTERS/Pedro NunesLISBON, July 31 (Reuters) - Hundreds of thousands of young people from around the world have descended on Portugal to welcome Pope Francis when he arrives on Wednesday to close a jamboree dubbed "the Catholic Woodstock". World Youth Day, an event devised by the late Pope John Paul to form young Catholics in their teens or early 20s, is held every two or three years in a different city. PROBABLE MEETING WITH ABUSE VICTIMSThe group is planning to put up big outdoor signs to raise awareness about clergy sexual abuse. Prime Minister Antonio Costa on Monday called it "the biggest international event" Portugal has ever hosted.

Persons: Pope Francis, Pedro Nunes LISBON, Pope John Paul, Francis, Lisbon's Martim Moniz, Manuel Clemente, Matteo Bruni, Antonio Costa, Madonna, Philip Pullella, Angus MacSwan Organizations: REUTERS, Woodstock, Vatican, Lisbon's Parque Tejo, Thomson Locations: Portugal, Lisbon, Lisbon's, Fatima, Rome

[1/2] Mayor of Lisbon Carlos Moedas speaks during the opening ceremony of Web Summit, Europe's largest technology conference, in Lisbon, Portugal, November 1, 2021. REUTERS/Pedro NunesLISBON, July 1 (Reuters) - The mayor of Lisbon has been accused of "boycotting" Portugal's first memorial to victims of slavery, a long-delayed project in a country still struggling to confront its role in the transatlantic slave trade. The mayor's office did not immediately reply to a request for comment. According to DJASS, the mayor's office said in April DGCP and EMEL had not given their approval, meaning the memorial had be located elsewhere. DJASS said the mayor's office was dealing with the memorial in a "negligent and disrespectful way" and accused it of adopting a strategy of boycotting the project.

Persons: Lisbon Carlos Moedas, Pedro Nunes LISBON, DJASS, Carlos Moedas, Moedas, EMEL, Catarina Demony, Giles Elgood Organizations: Web, REUTERS, Portugal's Association of African, Campo das, Directorate, Cultural Heritage, Thomson Locations: Lisbon, Portugal, Campo, Brazil, DGCP

LISBON, May 2 (Reuters) - Portugal's infrastructure minister submitted his resignation on Tuesday as a scandal around state-owned airline TAP widened, just four months after his predecessor resigned over the same issue, but the prime minister said he would keep him in the job. Galamba's predecessor, Pedro Nuno Santos, resigned in December in the wake of a scandal involving an irregular severance payment to a former executive board member of TAP. Ourmières-Widener has since been fired after an official inspection found that the severance was illegal. On Sunday, Costa said that neither he nor any member of the government had given orders to SIS to recover the laptop. ($1 = 0.9089 euros)Reporting by Sergio Goncalves and Catarina Demony; Editing by Andrei KhalipOur Standards: The Thomson Reuters Trust Principles.

☆ Under Lisbon's streets, ancient Roman galleries tell story of the past
▼ + stars: | 2023-04-22 | by ( ) www.reuters.com time to read: +1 min

[1/5] View of Roman galleries under downtown is seen in Lisbon, Portugal, April 20, 2023. The city remained under Roman control for several centuries. The galleries were first discovered in 1771, when Lisbon was being rebuilt after the devastating Great Earthquake of 1755. Tickets to visit the galleries usually sell out within 15 minutes. Reporting by Catarina Demony, Miguel Pereira and Pedro Nunes in Lisbon; Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

Lula has been criticised in the West for suggesting Ukraine and Russia are to blame for the conflict that began when Moscow invaded its neighbour in February 2022. Last week he said the United States and European allies should stop supplying arms to Ukraine saying they were prolonging the war. Lula arrived in Portugal on Friday for a five-day visit as he strives to improve foreign ties. Portugal's President Marcelo Rebelo de Sousa, who accompanied Lula at the news conference, said their countries' stance on the war were different. Rebelo de Sousa said Ukraine had the right to defend itself and "recover" its territory.

☆ Portugal's government in hot water as TAP airline scandal deepens
▼ + stars: | 2023-04-21 | by ( Sergio Goncalves | ) www.reuters.com time to read: +2 min

LISBON, April 21 (Reuters) - Portugal's government fired the chief executive of flag carrier TAP last month without a legal assessment of the move, Finance Minister Fernando Medina has acknowledged, deepening a high-profile scandal around the state-owned airline. His remarks in parliament late on Thursday contradicted claims by two fellow ministers a day earlier that the government had obtained a legal opinion backing the decision. This heightens chances of the state losing a potential lawsuit by the sacked executives worth millions of euros. After Ourmières-Widener called her sacking "illegal", the main opposition Social Democrats warned that unless the decision had proper legal backing, the state could lose an eventual court dispute. In a tweet, Liberal Initiative party leader Rui Rocha called the situation a "festival of incoherence and total disrespect for parliament".

☆ Two people killed in knife attack in Lisbon's Ismaili centre
▼ + stars: | 2023-03-28 | by ( ) www.reuters.com time to read: 1 min

LISBON, March 28 (Reuters) - At least two people died in an attack in the Ismaili Centre in Lisbon on Tuesday, Portuguese police said, without giving further details. CNN Portugal said the alleged author of the attack, an Afghan national who wielded a large knife, had been shot and detained. Reporting by Catarina Demony, writing by Andrei KhalipOur Standards: The Thomson Reuters Trust Principles.

Since then, critics say those schemes have come back to bite the economy by ramping up competition for scarce housing - fuelling inflation and piling pressure particularly onto young, local, entry-level workers. Rents in Lisbon have jumped 65% since 2015 and sale prices have sky-rocketed 137%, figures from Confidencial Imobiliario, which collects data on housing, show. Locals struggled to keep up in a country where public housing only represents 2% of the property market, according to government data. The average rent for a one-bedroom flat in Lisbon is around 1,350 euros, a study by housing portal Imovirtual showed. "If housing stays this expensive or gets worse, (foreign) people ... will start moving back to their own countries."

[1/3] People shout slogans during a demonstration against the mounting costs of living, in Lisbon, Portugal, February 25, 2023. Portugal is one of Western Europe's poorest countries, with government data showing more than 50% of workers earned less than 1,000 euros ($1,054.60) per month last year. House prices in Portugal rose 18.7% in 2022, the biggest increase in three decades, and rents have also increased significantly in part due to a speculative property bubble. Low wages and high rents make Lisbon the world's third-least viable city to live in, according to a study by insurance brokers CIA Landlords. ($1 = 0.9482 euro)Reporting by Catarina Demony, Miguel Pereira and Pedro Nunes; Editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

[1/5] School teachers demonstrate for better salaries and working conditions in Lisbon, Portugal, February 11, 2023. REUTERS/Pedro NunesLISBON, Feb 11 (Reuters) - Tens of thousands of teachers took to Lisbon's streets on Saturday in one of the biggest protests in Portugal in recent years as the Socialist government faces a wave of discontent over the cost of living crisis. It was the third time in less than a month that teachers and school workers have held mass demonstrations in Portugal. Teachers on the lowest pay scale make around 1,100 euros ($1,174.25) per month but even teachers in higher bands typically earn less than 2,000 euros. House prices in Portugal rose 18.7% in 2022, the biggest increase in three decades, and rents have also increased significantly.

☆ This 52-year-old early retiree left the U.S. for Portugal—a look at his typical weekend: 'I spend less than $40'
▼ + stars: | 2023-02-11 | by ( Alex Trias | ) www.cnbc.com time to read: +4 min

On weekends when I'm out and about, I spend less than $40 a day:Start the day with coffee and breakfastPrice per person: $6.31 Lisbon is paradise for breakfast lovers. Take a train to the seashore and rent bikesPrice per person: $11.34 A one-hour train ride from Lisbon's historic Cais do Sodré station to the fishing village of Cascais costs $4.92 (round trip). We like to stop by on weekends, and it is conveniently located on the train ride back from Cascais. Our daughter loves bargain hunting at the Feira da Ladra, a popular flea market located within the Alfama district of Lisbon. Photo: Alex TriasI also enjoy the weekend flea market in Principé Real, where you'll find plenty of delicious artisanal honey, cheese and cured sausages.

☆ Portuguese climate activists must pay fine over protest, says court
▼ + stars: | 2022-12-16 | by ( ) www.reuters.com time to read: +1 min

LISBON, Dec 16 (Reuters) - A Portuguese court ordered four climate activists to pay a fine on Friday for occupying a university building to protest what they perceived as political inaction around climate change. According to the judge's decision, each activist must pay a fine of 295 euros ($312.61). If they are not able to pay it in one go they can either pay in instalments or do community service. "We think it's not fair that we are being criminalised for fighting for the environment," one of the sentenced students, Ana, told RTP broadcaster outside the court. The Faculty of Humanities was one of several universities and high schools in the city that young people angry about the climate crisis occupied last month.

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