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Ricardo Machado paid 25 million for Herdade do Vale Feitoso – Empresas

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Ricardo Machado paid 25 million for Herdade do Vale Feitoso - Empresas

Twenty-five million euros. This is the amount that Portuguese businessman Ricardo Machado paid to buy the largest gated private property in Portugal, according to real estate website Eje Prime, citing “market sources”.

On July 23 last year, the businessman pointed out that acquired Herdade do Vale Feitosolocated in Idanha a Nova, in the Castelo Branco area.

Then, in statements to Negosios, the businessman refused to disclose the cost of the operation, indicating, however, that the purchase was closed at a price “well in excess” of the €20.7 million paid by the Spanish group Tenigla in 2021. Ricardo Machado also said that he would “support the entire €50 million investment plan” that the Spanish group announced for Vale Feitoso, making it a “self-sustaining property” and stated that his goal was to bet “on acquiring more forest properties” in our country.

The Portuguese businessman, who has succeeded in business projects in several African countries, intends to “follow a plan to reorient the geographical exposure of his investment portfolio, reducing his presence on the African continent and focusing more on Europe and Portugal in particular.”

The estate of the “owner of it all”

Herdade do Vale Feitoso is a property of 7,300 hectares, of which 1,200 hectares are tourist hunting grounds reserved for famous national and international hunters during the period allotted for hunting big game such as deer, fallow deer, mouflon, roe deer or wild boar .

It was bought by the Espírito Santo (GES) group in 2004, after which the Salgados turned it into a kind of family estate, a place for parties and hunting with friends.

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Meanwhile, the GES collapsed and the owner of the Companhia Agrícola de Penha Garcia estate, named after a village in Idanha with just over 500 inhabitants, went bankrupt.

The BES heir later seized these assets and the company was declared insolvent in February 2017, during which Novo Banco demanded a €53.3 million loan.

Since the end of 2018, the bankrupt Peña Garcia estate has been promoting various sales procedures with successive price reviews, as the estate was sold to a real estate investment fund owned by Tenigla last year.

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Economy

TUGA offers new electric vehicles in three segments: from sports to trucks – Computers

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TUGA offers new electric vehicles in three segments: from sports to trucks - Computers

Based in Vancouver, Canada but co-founded by Portuguese Cesar Barbosa, TUGA Innovations is developing solutions for urban mobility. AT February showed its first working prototype of the TUGA electric car, but has now revealed its plans to develop a whole family of urban mobility solutions.whether for use by independent consumers or for operators with a fleet of commercial models.

The company says that based on market research, it has decided to change its strategy, highlighting TUGA Innovations’ ability to easily transform the functional design aspects of its base model. So it’s over several predefined vehicle configurations which, although sharing a few common design featurestarget different uses and customer needs, whether it is a focus on mobility, services or utilities.

TUGA Innovations offers three vehicle categories as well as proprietary component options such as retractable rear axle or retractable landing gear, which the company later says will be segmented to suit different market sectors..

See the various TUGA models in the gallery:

The first category is dedicated limited-edition high-performance cars that can transformsuch as removing the front windshield and rear bin to create the look of a roadster. They fit the TUGA Thunder and TUGA Falcon models.

The second group of vehicles includes TUGA Commuter and TUGA Deliver, which, in fact, are demonstration models of the manufacturer. They allow you to swap body parts that have now been redone with more safety components added.. Vehicles can also be purchased in a package called Mobility as a Service (MaaS) for functional integration into delivery fleets as well as daily commuting.

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Finally, the TUGA Cargo and TUGA Pickup models. expand your chassis to meet the needs of urban micrologistics. The vehicles have a capacity of 600 liters of cargo space in an 88 cm long model, combined with an extended 128 cm rear axle for added stability.

See prototype images in the gallery:

Regardless of category, the startup claims its entire family of vehicles has been designed to make transit and parking easier.. The retractable axle improves stability at high speeds, and the retractable chassis allows passengers to easily get inside the vehicle.

According to Cesar Barbosa, his startup creates not just a vehicle, but a solution to the problems of urban mobility. The project manager adds that since the presentation of the prototype, the family has expanded to offer different products and other features of its electric vehicles..

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Economy

Gas. Bottle sellers adjust prices

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Gás. Vendedores de garrafas corrigem preços

















Gas bottle sellers have adjusted prices that are not in line with government regulations limiting those values, said the National Energy Sector Organization (ENSE), which returned yesterday to review activity.

After conducting the first inspection on Tuesday, which found “high non-compliance” in 23.4% of outlets, the organization again carried out “108 inspection actions in Castelo Branco, Portalegre, Santarem, Evora and, in the municipalities of Cascais, Oeiras and Sintra in the Lisbon area, focusing on petrol stations, hypermarkets/supermarkets and other retail outlets.”

During this second check, ENSE found “seven violations (corresponding to 6.5% of the actions taken) in the selling prices (from 0.36 euros to 3.39 euros for T3 bottles and 6.92 euros for T5 bottles) of this type of product.” But he left a guarantee: “Of these actions, it was established mainly the correction of inappropriate prices, namely in relation to inflated amounts charged in several hypermarkets of the same brand.”

The maximum prices per bottle of liquefied petroleum gas (LPG) set by the government came into effect on Tuesday, saving almost 3.2 euros on a 13 kilograms (kg) bottle of butane.



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Economy

FRS minutes Press end of the session. Wall Street closes in the red – stock exchange

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FRS minutes Press end of the session.  Wall Street closes in the red - stock exchange

The session on Wall Street ended the same way it began: in the red. Closing of the day was marked by the publication of the minutes of the last meeting of the Federal Reserve System (FRS) of the United States, and technology fell most of all.

The Dow Jones Industrials fell 0.50% to 33,980.32 and the S&P 500 fell 0.72% to 4,274.04. For its part, the Nasdaq Composite Technology Index fell 1.25% to 12,938.12.

The Fed said in the minutes that it fears high inflation will take root in the US economy if the market begins to factor in a slower pace of US interest rate hikes. “Participants [no encontro] considers that there is a significant risk for the committee that high inflation could take root if the public begins to doubt that the committee will sufficiently adjust its political position, ”the minutes say.

The market has balanced, on the one hand, the likelihood that inflation has already peaked after the fall in the consumer price index in July, as well as the good results of companies in the “reporting season”.

According to Bloomberg, four out of five reporting companies achieved the expected results or even exceeded analysts’ estimates.

On the other hand, investor sentiment is under pressure from the fact that the US has entered a technical recession, as well as the prospect of further tightening of the Fed’s monetary policy, which could further worsen this scenario.

During this session, in addition to these concerns and good news, investors continued to digest data on US retail sales, which rose 0.7% higher than expected.

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Among the major market moves, shares of Target stood out, which fell 2.66% after the retailer reported results below analysts’ expectations.

Lowe’s, by contrast, rose 0.54% after the building materials retailer released last quarter results that beat analysts’ forecasts.

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