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In terms of geographical distribution, it is in Funchal that the foreign population mainly concentrates The foreign population with resident status in the Autonomous Region of Madeira totaled 6, up by The setting-up of a free trade zone has led to the installation, under more favourable conditions, of infrastructure, production shops and essential services for small and medium-sized industrial enterprises.
The International Business Centre of Madeira comprises presently three sectors of investment: Madeira's tax regime has been approved by the European Commission as legal State Aid and its deadline has recently been extended by the E.
The International Business Centre of Madeira, also known as Madeira Free Trade Zone, was created formally in the s as a tool of regional economic policy.
It consists of a set of incentives, mainly of a tax nature, granted with the objective of attracting inward investment into Madeira, recognized as the most efficient mechanism to modernize, diversify and internationalize the regional economy.
The decision to create the International Business Centre of Madeira was the result of a thorough process of analysis and study.
Other small island economies, with similar geographical and economic restraints, had successfully implemented projects of attraction of foreign direct investment based on international services activities, becoming therefore examples of successful economic policies.
Since the beginning, favorable operational and fiscal conditions have been offered in the context of a preferential tax regime, fully recognized and approved by the European Commission in the framework of State aid for regional purposes and under the terms of the Ultra-peripheral Regions set in the Treaties, namely Article of the Treaty on European Union.
The IBC of Madeira has therefore been fully integrated in the Portuguese and EU legal systems and, as a consequence, it is regulated and supervised by the competent Portuguese and EU authorities in a transparent and stable business environment, marking a clear difference from the so-called "tax havens" and "offshore jurisdictions", since its inception.
In , the European Commission authorized the new state aid regime for new companies incorporated between and and the extension of the deadline of the tax reductions until the end of Available data clearly demonstrates the contribution that this development programme has brought to the local economy over its 20 years of existence: Also there are above average salaries paid by the companies in the IBC of Madeira in comparison with the wages paid in the other sectors of activity in Madeira.
The region continues to work with the central government on a long-term plan to reduce its debt levels and commercial debt stock.
Moody's notes that the region has made significant fiscal consolidation efforts and that its tax revenue collection has increased significantly in recent years due to tax rate hikes.
Visitors are mainly from the European Union, with German, British, Scandinavian and Portuguese tourists providing the main contingents.
The average annual occupancy rate was Whale watching has become very popular in recent years. Many species of dolphins, such as common dolphin , spotted dolphin, striped dolphin , bottlenose dolphin , short-finned pilot whale , and whales such as Bryde's whale , Sei whale ,  fin whale , sperm whale , beaked whales can be spotted near the coast or offshore.
Electricity on Madeira is provided solely through EEM Empresa de Electricidade da Madeira, SA, which holds a monopoly for the provision of electrical supply on the autonomous region and consists largely of fossil fuels, but with a significant supply of seasonal hydroelectricity from the levada system, wind power and a small amount of solar.
In , renewable energy formed There are also direct flights to over 30 other airports in Europe and nearby islands. Transport between the two main islands is by plane, or ferries from the Porto Santo Line,  the latter also carrying vehicles.
Modern roads reach all points of interest on the islands. Funchal has an extensive public transportation system. Folklore music in Madeira is widespread and mainly uses local musical instruments such as the machete , rajao , brinquinho and cavaquinho , which are used in traditional folkloric dances like the bailinho da Madeira.
Emigrants from Madeira also influenced the creation of new musical instruments. In the s, the ukulele was created, based on two small guitar-like instruments of Madeiran origin, the cavaquinho and the rajao.
Because of the geographic situation of Madeira in the Atlantic Ocean, the island has an abundance of fish of various kinds.
The species that are consumed the most are espada black scabbardfish , blue fin tuna , white marlin , blue marlin , albacore , bigeye tuna , wahoo , spearfish , skipjack tuna and many others are found in the local dishes as they are found up and down the coast of Madeira.
Bacalhau is also popular, as it is in Portugal. There are many meat dishes on Madeira, one of the most popular being espetada.
These are so integral a part of traditional eating habits that a special iron stand is available with a T-shaped end, each branch of the "T" having a slot in the middle to hold a brochette espeto in Portuguese ; a small plate is then placed underneath to collect the juices.
The brochettes are very long and have a V-shaped blade in order to pierce the meat more easily. It is usually accompanied with the local bread called bolo do caco.
Traditional pastries in Madeira usually contain local ingredients, one of the most common being mel de cana , literally "sugarcane honey" molasses.
The traditional cake of Madeira is called Bolo de Mel , which translates as Sugarcane "Honey Cake" and according to custom, is never cut with a knife, but broken into pieces by hand.
It is a rich and heavy cake. The cake commonly well known as " Madeira Cake " in England also finds its naming roots in the Island of Madeira.
Malasadas are a Madeiran creation which were taken around the world by emigrants to places such as Hawaii. In Madeira, Malasadas are mainly consumed during the Carnival of Madeira.
Milho frito is a very popular dish in Madeira which is very similar to the Italian dish polenta. Madeira is a fortified wine , produced in the Madeira Islands; varieties may be sweet or dry.
It has a history dating back to the Age of Exploration when Madeira was a standard port of call for ships heading to the New World or East Indies.
To prevent the wine from spoiling, neutral grape spirits were added. However, wine producers of Madeira discovered, when an unsold shipment of wine returned to the islands after a round trip, that the flavour of the wine had been transformed by exposure to heat and movement.
Today, Madeira is noted for its unique winemaking process which involves heating the wine and deliberately exposing the wine to some levels of oxidation.
A local beer called Coral is produced by the Madeira Brewery , which dates from Laranjada is a type of carbonated soft drink with an orange flavour, its name being derived from the Portuguese word laranja "orange".
Launched in it was the first soft drink to be produced in Portugal, and remains very popular to the present day. Brisa drinks , a brand name, are also very popular and come in a range of flavours.
There is also a huge coffee culture in Madeira. Portugal has issued postage stamps for Madeira during several periods, beginning in From Wikipedia, the free encyclopedia.
Autonomous Region of Portugal in the archipelago of Madeira. This article is about the archipelago. For other uses, see Madeira disambiguation.
Autonomous Region in Madeira, Portugal. A January view of Funchal , the capital city of the autonomous region. Location of Madeira relative to Portugal green and the rest of the European Union light green.
A Portuguesa national Hino da Madeira regional. View from Pico do Arieiro. Postage stamps and postal history of Madeira. Portugal portal Geography portal.
Retrieved 12 March Oxford Dictionary of National Biography. Retrieved 2 September The Chronicle of Discovery and Conquest of Guinea.
French author Arkan Simaan refers to these discoveries in his historical novel based on Azurara's Chronicle: Translated by Hogarth-Gaute, Frances.
And when he returned in May to take possession of "his" island, it was with his wife and the sons and daughters that the virtuous Constanga had given him.
Retrieved 15 August Retrieved 30 July Retrieved 13 November Retrieved 7 June Retrieved 27 January Retrieved 8 September Fires that had raged there in the recent days had devastated 95 percent of Funchal Ecological Park, destroying a decade of efforts to replant indigenous species in the area measuring 1 hectares, the daily Publico quoted environmentalists as saying.
Retrieved 20 October Retrieved 11 April Retrieved August 11, Archived from the original on 30 May Archived from the original on 31 July Archived from the original on 6 September It was by no means an easy effort.
Portugal begin the second half much as they ended the first: If so, I apologise to Sigur Ros. Feel free to carry on hating on that unsavoury character.
However, I would argue that he is far from the worst at the dark arts. His tactics are usually so transparent, so blatant, that he gets caught and punished more often than not.
An example - here is Pepe being out-play-acted and the referee tricked into a red card by a much dirtier player than him, the execrable Thomas Müller: Müller - a cheap-shot artist, a diver, constantly harassing the referee - he is a lot worse than the clownish Pepe, but gets away with it.
But by all means, keep punching the same pinata all you want. A point from that first half. Both sides have pretty much played s. Take that modern football.
Iceland are second best. Portugal are a class above. Their passing and movement is far superior. Iceland have a throw deep in the Portugal half.
Gunnarsson plans to Rory Delap it into the box. Portugal clear and Gunnarsson has a nibble at Nani out of frustration.
And that is that. Iceland need to have a rethink at half-time. This is reminiscent of Poland v Northern Ireland.
Portugal break with rapid pace. Bjarnason gives the Iceland defence a breather by going on a little run up the left.
His first cross is blocked but Iceland come back at Portugal with Bjarnason again. This time his cross is flicked out for a corner with Sigthorsson lurking at the back post.
They need to make every set-piece pay. That is their most likely way to goal. Portugal apply the pressure. They win a free-kick and then a series of corners.
It will need to. Portugal can sniff blood here. Gomes plays a simple one-two on the right and is sent scuttling up towards the byline.
He looks up and spies Nani running towards the near post and picks him out perfectly. Iceland were caught napping on the left there. Nani finished well though.
Carvalho uses all 38 years of his footballing nous to halt an Iceland attack in slick fashion. Please make this true. Iceland fans, do you sing Bjork, Sigur Ros or Jonsi songs?
Moments later Bjarnason, a little bundle of battle, gives away a free-kick 35 yards out towards the right touchline.
Gregg Bakowski Tue 14 Jun Key events Show 9. Portugal Portugal Bjarnason 50 9. Portugal Iceland 9. Portugal Iceland 8.
Portugal Iceland Nani 31 8. Johan Davidsen replaces Atli Gregersen. William Carvalho Portugal wins a free kick in the defensive half.
Gelson Martins tries a through ball, but Cristiano Ronaldo is caught offside. Pepe Portugal header from very close range is blocked.
Assisted by Gelson Martins with a cross. Pepe Portugal wins a free kick in the defensive half. Dangerous play by Brandur Olsen Faroe Islands.
Gelson Martins replaces Ricardo Quaresma. Faroe Islands 0, Portugal 4. Cristiano Ronaldo Portugal left footed shot from outside the box to the top right corner.
Viljormur Davidsen Faroe Islands wins a free kick on the left wing. Cristiano Ronaldo Portugal wins a free kick on the left wing.
Pepe Portugal is shown the yellow card for a bad foul. Hallur Hansson Faroe Islands wins a free kick in the defensive half. Atli Gregersen Faroe Islands is shown the yellow card.
Cristiano Ronaldo Portugal right footed shot from outside the box is high and wide to the left from a direct free kick.
Cristiano Ronaldo Portugal left footed shot from the left side of the box is saved in the bottom left corner. Hallur Hansson Faroe Islands wins a free kick in the attacking half.
Faroe Islands 0, Portugal 3. Conceded by Vitorino Antunes. Pepe Portugal right footed shot from the centre of the box misses to the left.