Tuesday, May 31, 2016

Investment to fall back two and a half later, INE revises GDP in high – Jornal de Negócios – Portugal

The data published this morning by the National Statistics Institute (INE) show that, after all, the Portuguese economy has not grown 0.8%, but 0.9% in the first quarter of the year compared to the same period 2015. in jail, instead of 0.1%, the INE estimates now that the economy has advanced 0.2%.

This is good news for the national economic activity, but that still leaves the growth of gross domestic product (GDP) away from the annual Government target (0.9% vs. 1.8%) . The reason for the revision of the flash estimate (13 May) is explained by the INE with the incorporation of new information on the deflators of exports and imports.

“The Gross Domestic Product (GDP ) recorded year on year, an increase of 0.9% in volume in the first quarter of 2016 (variation of 1.3% in the previous quarter). net external demand registered a negative contribution of 1.1 percentage points to the variation annual GDP, the same as observed in the fourth quarter of 2015, verifying a slowdown of Goods and Services Exports and Imports of Goods and Services, “explained the INE, the emphasis has published Tuesday, May 31.


PPP. State ordered to pay more than 100 million in compensation – Mad Money

The state was convicted over 2015 to pay more than 100 million in damages relating to road concessions, according to the annual report of monitoring of public-private partnerships, on Tuesday released Unity Project Tracking Technique. The state has appealed or complained of most decisions.

At issue are several decisions taken over the last few months of last year involving disputes relating to motorway Marão, the grant Interior Norte and also Brisal and the Motorways of the Atlantic

Marão. EUR 46 million

December 15, 2015, details the UTAP, “the Arbitral Tribunal issued settlement judgment, and quantified the obligation to refund, in charge of the Portuguese State in favor of the concessionaire, at 46 million euros, plus interest. ” Concerned the application of Marão Austroestrada dealership for the resolution of the concession agreement.

The dealership moved to the courts at the end of 2012, requiring the resolution of the concession agreement “on the grounds of alleged impossibility of their compliance by virtue of several events that have occurred during its execution “as the suspension works for environmental reasons and the suspension of disbursements by banks. For the dealership, it “made it impossible to perform the contract due to lack of funding.”

Back in June 2013, the state turned out to terminate the contract of Marão Tunnel claiming just cause for “execution impossibility of even by lack of funding. “

Called to comment, the tribunal concluded that” there was nenhuna the responsibility of the parties to the contract frustration, “describes the UTAP, but nevertheless determined that” the State only have responsibility to compensate the concessionaire for the received built value, and to this end gauged what was the state of enrichment. “

it was back in December 2015, the Arbitral then issued the judgment of settlement requiring the state to repay 46 million euros to the concessionaire . The decision “was complaint object by the state, and its pending decision,” says UTAP

Brisal:. 22 million + 6.5 million per year from now on

the traffic breaks in the resulting A17 introducing tolls and a delay in the entry into operation of a A29 of section led Brisal to enter a claim for compensation to the State in February 2012, requiring then EUR 1 022 million.

According to UTAP, the court had to decide on this request in April 2015, condemning “the state to compensate the concessionaire for the decrease in revenues, by paying . 22.15 million euros for the period between July 2010 and December 2014 “

This conviction, however, went even further: in addition to compensation for the revenue shortfall in the years earlier, the compensation also covers future losses. According to UTAP, the State was ordered to pay “6.573 million euros annually until expiry of the contract award” . – Concluded in 2004 with a minimum term of 22 years

in this second decision on compensation for loss of future income, the State “was admitted in the administrative courts” already in June 2015, “an action” aimed at the partial invalidity of the judgment “, action already challenged by the concessionaire. The case is still pending decision

Atlantic:. EUR 28.9 million

In Action also against the introduction of tolls on the Silver Coast and Beira Litoral e Alta, the Motorways of the Atlantic dealership required to state a direct compensation of 530 million euros for “traffic breaks and lower revenues.”

it was already December 28 2015 the tribunal ruled, “and considered that there was an imbalance causes contest, condemning the Portuguese State to pay direct compensation in the amount of EUR 28.9 million “, reveals the UTAP. A value that is intended to compensate the concessionaire for the fall in traffic between 2010 and 2013

North. Inside: 100,000 euros

On a smaller scale, but also between disputes relating to the PPP, is the case of the Northern Interior, which dates back to 2000.

that was the year a consortium with Soares da Costa and Teixeira Duarte, among others, challenged the award of Northern Interior to another party. The Supreme Administrative Court, as in 2006, gave reason to this request and in 2015 ordered the government to pay “compensatory title” the amount of 100 thousand euros. “Transit confirmation is awaited on trial the latest judgment.”


Barbara Reis leaves the public steering November – Jornal de Negócios – Portugal

Barbara Reis leave in November, the direction of the newspaper Público, was today reported internally to the wording. “The director of” Public “and the Public’s board of directors agreed to close next month November – at which Barbara Full Kings seven years ahead of the newspaper – a long cycle of his professional life,” can be read in the document, that the business had access.

in recent days intensified the rumors about a possible conflict between the Board and the Administration. In a statement today, signed by management, mention is made of this information, which will precipitate the communication to the wording. “Given the rumors of recent days, the Board of Directors deemed it preferable to anticipate the disclosure of this process. Speculation about conflicts or simple misunderstandings become would strongly destabilizing newspaper and, in addition, would be particularly unfair towards its Director . “

the Administration points out that this transition was being planned and that the chosen time horizon – November – allows tranquility in the new cycle setting for the paper. “This comfortable time frame will allow the Board of Directors, with transparency and serenity, prepare a new cycle,” says the note.

“In November, Barbara Reis will focus on Public other of their multifaceted interests, “the company explains. Not in communication no mention of the other Board members.


INE revises upwards GDP in the first quarter to 0.9% – Daily News – Lisbon

the first quarter 2016 figures were released Tuesday by the National Institute of Statistics

The National Institute of Statistics (INE) has reviewed today’s high economic growth in the first quarter, with gross domestic product (GDP) to grow 0.9% YoY and 0.2% qoQ.

the INE today released the highlight of Quarterly National Accounts for the first quarter of this year, after he revealed in the flash estimate of 13 May, the Portuguese economy grew 0.1% in the first quarter of this year compared to the last quarter of 2015 and increased 0.8% year on year.

Despite the upward revision, the figures mean that economic growth slowed year on year, once between January and March last year GDP had increased 1.7%, stabilizing compared to the last three months of 2015 when GDP advanced 0.2% also.

According to the INE, in annual terms, GDP increased by 0.9 % in volume between January and March (ranging from 1.3% in the previous quarter).

the net external demand registered a negative contribution of 1.1 percentage points to annual GDP growth, equal to the observed in the fourth quarter 2015, verifying a slowdown of exports of goods and services and imports of goods and services.

the contribution of domestic demand, in turn, was 2.0 percentage points, lower than in the previous quarter (2.4 percentage points) “due to reduced investment, since private consumption accelerated and public consumption maintained the pace of growth in the previous quarter,” said the institute.

Compared to the fourth quarter of 2015, GDP registered a 0.2% growth rate in real terms (rate identical to that observed in the previous quarter).

“the contribution of domestic demand was positive mainly due to the growth in private consumption, while the contribution of net external demand was negative, reflecting the reduction in exports of goods and services and the increase in imports of goods and services, “the INE.

Second the office of statistics, compared with the flash estimate for the first quarter, the new used basic information involved revisions in the annual rates of change and of the GDP chain, “particularly due to the incorporation of additional information on deflators of exports and imports “.

private consumption, in volume, showed an annual rise of 2.9% in the first quarter, 0.6 percentage points higher than the growth rate observed in the previous quarter.

“This development was mainly due to the acceleration of spending on durable goods, which went from an annual increase of 7.5% in the previous quarter to 12.8%, largely reflecting the evolution of the automotive component,” signals .

the investment, in turn, decreased by 0.6%, after annual growth of 4.4% in the previous quarter, reflecting the decrease in Gross Fixed Capital Formation (GFCF) which went from an annual increase of 1.0% in the previous quarter to a fall of 2.2%.

in turn, the contribution from changes in inventories to annual GDP growth was 0, 3 percentage points lower than in the preceding quarter (0.5 percentage points).

“the behavior of GFCF in construction explained to a large extent, the decrease in total gross fixed capital formation recorded in the first quarter, recording a year change of -3.9% in real terms, after increasing 4.4% in the fourth quarter, “the INE.

according to the institute, exports of goods and services in volume passed an annual change of 2.8% in the fourth quarter to 2.2% in the first quarter, “as a result of the deceleration of both components, more intense in the case of services.”

exports of goods They recorded an annual rate of 2.6% (2.8% in the previous quarter), while exports of services increased by 1.1% YoY (2.7% in the fourth quarter).

the INE signals, this heading, which exports accelerated tourism in the first quarter 2016, while exports of other services declined.

imports of goods and services in volume, in turn, increased by 4 6% YoY, still decelerating growth of 5.3% observed in the previous quarter.

“This development resulted from the slowdown in imports of goods, which increased by 5.0% YoY (6.2% in the previous quarter), as imports of services accelerated, with an annual growth rate of 1.7% (0.1% in the fourth quarter of 2015), “justified.

GVA (Gross Value Added) Total base prices slowed, from an annual increase of 1.3% in the last quarter of 2015 to a growth of 0.5% in the first quarter of 2016.

employment for all the fields of activity of the economy, seasonally adjusted, recorded an annual growth of 1.1% in the first quarter, after increasing 1.8% in the previous quarter, while paid employment (also corrected seasonality) year change of 1.7% in the first quarter (1.8% in the fourth quarter).

The government expects economic growth of 1.8% this year, estimated that signed the Budget State in 2016 and remained with the presentation of the Stability Programme

This goal has been considered optimistic, below the estimates of the main international financial institutions and national level. the European Commission and the Bank of Portugal anticipated the Portuguese GDP to grow 1.5%, while the International Monetary Fund predicts that advances 1.4%.


With Horacio Roque “would not be here” – Observer

The unexpected death of Horacio Roque, the founder of Banif in 2010, “was a terrible fatality” to the bank, admitted on Tuesday the former president and chief financial officer.

Carlos Duarte Almeida, who was in Banif over 20 years, witnessed the disappearance of Horacio Roque was an additional problem for the bank, to add to all the problems that have affected the national banking. “We lost our leader and the largest shareholder brutally and for several months lacked strategic direction,” said the Banif commission of inquiry.

“With him on our side, other solutions have been analyzed and not we’d probably be here, “a parliamentary inquiry where it discusses the resolution of Banif.

While highlighting the decisive role of Horacio Roque in the creation of Banif group, which was born of a bankrupt savings bank, also admitted that will been an overly ambitious growth. “I had the ambition to grow forever. The group has become too big and too complex and had to stop two years to consolidate this growth. “

Looking back now admits that this arrest should have been made ente 2008 and 2010.

But the former Banif manager that Horacio Roque wanted to make the group a large national bank, “it was hard to convince him to make a Stop and Go”. Roque wanted Banif ceased to be the largest of the small banks, to become the smallest of the major banks.

Carlos Duarte de Almeida, who was chief financial officer for several years and CEO after death Horacio Roque also recognized weaknesses in the Banif strategy.

the high credit value at risk, exposure to real estate and the difficulties of consolidation of hundreds of entries were mentioned factors, but the former manager notes the bank grew from nothing, unlike other institutions that have grown by acquisition. And to grow had to bet on the banks of the banking system where the risk is higher.

Duarte de Almeida was asked about the flaws and irregularities detected in forensic audit carried out by Deloitte at the request of the Bank of Portugal. The report focuses on 36 operations decided between 2007 and 2012 identified several flaws in lending, particularly in terms of credit allocation and trading conditions and interest, against the recommendation of the risk analyst. Another of the identified failures had to do with the failure of the lending limit to related parties, shareholders and group companies.

Joaquim Paulo, responsible for this audit, ear is also Tuesday, revealed that these loans were approved by the executive committee of Banif. Duarte de Almeida, who was financial manager without pelouro credit, unaware of the irregularities that have been identified by this audit was completed in 2014. And remember that there are other factors that weigh in the concession and renegotiation of credit.

He denies even that Banif had trapdoors and skeletons in the closet. Notes, however, that the bank had a high exposure to real estate. Although this portfolio had a significant degree of side, the crisis in the real estate depreciated real estate as collateral and forced to recognize an increasing level of impairment (losses).

About the detected irregularities in Brazil and led an inspection of the Bank of Brazil, the manager says it was a surprise. But while recognizing its severity, was lost about 30% of the loan portfolio, devalues ​​the impact of Banif Brazil problems in the Banif Group. And stresses that 50% of the provisions that the Bank of Brazil forced to have been canceled.

Carlos Almeida Duarte left the chief executive of Banif in 2012 and was replaced by Jorge Tomé. Justify your output with the conviction that the “Banif Group for me was the Commander Horacio Roque.” On the other hand, the heritage expressed the willingness to break with the past and revive the bank with other prospects.

It also acknowledged that left a difficult legacy to the new management had to resort to a public capitalization in 2013 .


Porto, Gaia and Gondomar not sign contract for EU funds for the cities – publico





The Port House will not sign this Tuesday, the contract of the Strategic Plan for Urban Development (PEDU). The ceremony is scheduled for Europarque in Santa Maria da Feira, and the Porto president, Rui Moreira, was even one of the guest speakers. But the mayor will not be present. At issue is the fact that the contract has not been updated for traded with the Minister of Planning and Infrastructure, Pedro Marques. There are other municipalities in the same situation as Gaia or Gondomar, and the responsibility lies with the Commission for Coordination and Regional Development North (CCDRN) not secured in time that contracts already reflected the new values ​​negotiated by the municipalities individually.

When the Coordination Committee and Northern Development (CCDRN) informed the municipalities the value had fallen to them in the PEDU, Rui Moreira warned that he would not sign the contract, considering that the value had fallen to porto – 26.5 million – equivalent to the “theft of the century”. Other municipalities in the Porto Metropolitan Area (AMP) also demonstrated against the values ​​that had been allocated, which led eventually to individual negotiations.

In the case of Porto, the result of talks with Minister Pedro Marques resulted in the promise of an increase in the amount of 5.7 million euros, an increase of around 20%, for the social area. Rui Moreira accepted this value. But the document was ready to be signed this afternoon in Europarque, did not correspond to new funds -. 32.2 million

Ministry of Planning Source confirms that the port will not sign the contract today, because “an administrative delay in the area of ​​CCDRN”. “The Port House will not sign today. There was a slip of administrative deadlines and procedures by the CCDRN, “added the same source. The city of Porto is not the only one affected by this case, so that other AMP cameras will not also sign the document this afternoon, contrary to what was expected. These are the municipalities of Vila Nova de Gaia, Porto and Gondomar.

Speaking taken by the workshop page of the city, Rui Moreira explained that on Monday last spoke to Minister Pedro Marques, confirming him that would not be present at the ceremony and would not sign the contract, because of the alleged failure of CCDRN. “While [the warning] is not published will not sign, we are not able to sign a pact that has not been established what are our legitimate rights,” said the mayor, on the morning of Tuesday, on the sidelines of a ceremony in the camera. Rui Moreira said he was convinced that the resolution of the impasse is “a matter of time” and that everything will be sorted. “The CCDR should have posted this warning on Friday, could have it published yesterday, did not, on that basis, I will not sign anything.”, He assured

CCDRN should have published a contract further to allow the updating of the amounts agreed between the municipalities and the government, but it did not. The ministry, as Moreira, believes that the case is not closed, and that as soon as the documents are updated, signing with Porto and other cities this afternoon did not close the question of PEDU will occur.

Asked by PUBLIC whether this failure CCDRN could have consequences for this body, the spokesman of the ministry said it would not comment.




Inflation remains in negative territory in the euro area – publico





The inflation rate in the euro area during the month of May is expected to record a slight increase, while maintaining a negative value for the second consecutive month.

According to the published preliminary estimate Tuesday by Eurostat, the annual inflation rate in May in the euro area stood at -0.1%, slightly above the -0.2% April. In March, this indicator had been zero.

The inflation rate which excludes the most volatile goods (energy, food, alcohol and tobacco) also rose lightly from 0.7% to 0.8 %.

the maintenance of inflation at such low values ​​(and even negative) is the main concern for the leaders of the European Central Bank, whose mandate to ensure that the inflation rate is in values “below but close to 2%” over the medium term.

in an effort to raise the inflation rate, the ECB put interest rates that lends money to banks to zero and may even in some circumstances apply negative interest rates if banks show that are lending money to businesses and households. The ECB is also injecting more money by buying assets (especially government bonds) in markets worth 80 billion per month.

On Thursday, the board of ECB governors It meets in Vienna, Austria, not expecting a change of stimulus measures currently in force. Those in charge of the ECB have already taken a stronger rise in inflation should only happen closer to the end of the year and, in addition, have seen some indicators such as consumer confidence and business, to finally give some positive signs.




Sonae wants to strengthen in Brazil and buy technology – TVI24

The Sonae group wants to strengthen the focus on Brazil, despite the economic crisis in the country.

“We have spent these last few years to gain strength and deal with our balance sheet. And today we have the strength to return to an investment firm [abroad], “he said in an interview with O Globo, Paulo Azevedo, president of the group. But the businessman does not hide the difficulties.

“We are sure it will be difficult to develop new shopping centers [in Brazil] in the near future. And that was a big goal of ours. We wanted to grow in Brazil. We have a company size. And now it needed to be bigger. And with the fall in consumption and the lack of investment capacity of tenants, we will go through a period of pause in growth, “he said.

Still, the son of the founder of one of the largest Portuguese groups ensured that will invest in shopping centers in Rio de Janeiro and Sao Paulo.

“we have very interesting shopping centers in Brazil, but we do not have big cities or in the city of Rio de Janeiro or Sao Paulo. And we have important centers in these cities. Therefore, we would like to have more, “he added.

Currently, Sonae has ten shopping centers in Brazil, between the interior of São Paulo, Minas Gerais, Paraná, Goiás and Amazonas.

the crisis as an opportunity?

to the question about whether the investments will only happen when the country recover, the official said that this “can not be the worst time to find new projects. We are cautious, but attentive “

In particular, there may be opportunities in the area of ​​technology, a sector that gains increasing importance in both the retail and telecommunications. – Two core sectors of the group. Moreover, companies that have emerged within the Sonae, as Wedo, Saphety and Atlantic already know the Brazilian market.

“In the technology area, we have nine companies with operations in Brazil (…). We are looking for investments in innovative technologies that benefit those businesses. And we have invested in geolocation, to realize the traffic and flows of our customers in retail. We are also investing in cybersecurity. WeDo is increasingly becoming a big data analytics company, “he said, recalling that the group has made three acquisitions per year. “Now we double (…) (the company has a budget of 40 million euros to make acquisitions this year).”

“Technology markets are very global. We look for companies worldwide. If the Brazil, great. WeDo already made purchases in Brazil. We still have the Atlantic and Saphety, “the executive chairman of the group.


IRS: Finance has already repaid € 827 million – Express

Until the day May 27, 2016 were processed 2,264,785 tax returns, 765,883 more statements than on the same date of 2015 advanced to the Express the Ministry of Finance.

the total amount of refunds is situated in 827 million euros, representing an increase of EUR 160 million (+ 24%) over the same period, yet is also an increase in the average reimbursement of 60 euros .

According to Finance, “with the introduction of new rules by the IRS Reform 2014 and whose first implementation takes place this year, control of settlements and refunds requires greater attention from services, which may delongar procedures “.

what could be happening in some cases, found the Express next to taxpayers who delivered the tax return in early April and have not yet been reimbursed.

However, “even though, according to the IRS Code, refunds may be paid on or before August 31, 2016, the Government and the Tax Authority and Customs are determined to carry out the same in the shortest time, despite certain processes in the clearance chain, settlement and refund / tax payment can not be shortened, “adds the same official source of finance.

Remember which ends on Tuesday, May 31, the deadline for the self-employed or who earn income from different categories fulfill this tax obligation. According to the “Economic Daily” (DE) online, about 700,000 taxpayers have not delivered the IRS.

The second IRS phase kicked off earlier this month and, according to information of Finance to “DE “about 1.3 million taxpayers have declared the IRS 2015, against the two million taxpayers last year, fulfilled this obligation in the same period.


Monday, May 30, 2016

Centeno satisfied with public spending “well below” the expected – Jornal de Negócios – Portugal

The Finance Minister Mario Centeno said this Monday, May 30, that the economic indicators for April and May show that “we are on track”, particularly in relation to “primary balance of public accounts that by April, reaches more than 35% of the annual target. “

in statements in the context of a conference organized by the UGT Centeno stressed the importance of this given the fact that last year at this time, the previous Government have secured only “28% of this goal.”


IRS Refunds average increase of 60 euros – publico






Since the Tax and Customs Authority (TA) started to process IRS refunds this year, have been returned to taxpayers EUR 827 million to last Friday, May 27. According to data submitted by the Ministry of Finance, was paid more than 160 million than in the same previous year, with an “increase the average reimbursement of 60 euros.”

of 1 April (the first day of delivery of statements) until 27 May (a few days to finish the second stage of delivery of statements), the tax authorities had processed 2,264,785 statements, more than 765,800 during the delivery period comparable last year.

the amounts of the refunds should correspond mainly to the payment of the first delivery stage, who declared only income from dependent or pensions work. This first phase took place from 1 to 30 April and the AT began to make the first repayment 25 days after the first date of delivery. The second phase – for the other income categories – began May 1 and ends Tuesday and is still mostly being processed by the tax administration. According to the IRS code, the tax must be paid by the tax authorities until 31 July.

The Government already had an increase in repayments. Even in February, in an interview with Business Journal , the Secretary of State for Fiscal Affairs, Fernando Rocha Andrade, predicted that the state reimburse this year over 200 million than last year. Why this difference? “The previous government underestimated the cost of the family quotient and also the health and IRS deductions, so these reimbursements, in principle, will be more focused on families with children, who had excessive IRS collection in relation to what was in the law “said the minister at the same newspaper.

the vast majority of statements are made on the Internet and” gradually “pensioners and workers on behalf of others who have no income to declare (who today delivers the IRS in the first phase) will no longer deliver the tax return.

the Government signed this measure in the new Simplex program, providing for implementing it in the first quarter of 2017, although it is not clear whether the automatic IRS will be in full already ground next year. The idea is that the tax “payable or receivable” is calculated based on the information that is “sent directly” to the tax authorities, without presenting the declaration. For those who receives income from other categories, nothing changes compared to the current regime.




Centeno defends advances in controlled policies to ensure stability – publico





The Finance Minister Mario Centeno, defended on Monday the need to “move forward in a controlled manner” in public policy to “ensure stability” and mitigate the risks to the Portuguese economy, as international uncertainty or “political uncertainty”.

“the macroeconomic scenarios, by their nature contain risks. starting with the uncertainty that hovers in the world economy. Whether by downturns, recessions or vulnerabilities in some economies either for reasons of political uncertainty:. all this can prove to be harmful to the Portuguese growth, “said Mario Centeno, a conference organized by the UGT held today in Lisbon

in this sense, the finance minister defended that “public policies must transmit the necessary stability in order to create the recovery expectations” economic, noting that the economic growth target this year (1.8%) is based on external demand, which depends on the resumption of investment.

“Everyone will understand the need to move in a controlled manner, ensuring stability, with the sense put on our objectives”, registered in the Government, national reform and stability programs, said the official. In this sense, Mario Centeno made a promise on behalf of the government: “We will make every effort to undertake the necessary reforms to develop the Portuguese economy and reduce these risks.” “Portugal must never lose sight of their own economic and financial stability objectives,” he said.

During the speech, the minister listed the different risks to the economy Portuguese: the crisis in partners such as Angola and Brazil, but also the slowdown in Europe or the “reduction of the workforce”, which checks “for many semesters’

” economy. increasingly global, “also found, requires more competitiveness and that are” forms of competitiveness that are not centered on the wage factor, “he argued.

the Finance Minister also took the opportunity to highlight the numbers of execution budget until April, released last Wednesday, stressing the improvement of tax revenues and social contributions and public expenditure “well below what is expected for the whole year.”

Mario Centeno was speaking after of the secretary general of the UGT, Carlos Silva, have urged the minister to “reassure the workers and the country.”

“We must give peace, because without peace there is no governmental stability, and there is no stability in negotiation. Without stability there is no social peace, “said Carlos Silva.




Unemployment rate remained at 12% in April – Sun

unemployment rate remained at 12% in April, according to provisional estimates released Monday by the National Statistics Institute (INE).

According to the INE, in April there was 609,800 people unemployed, representing a decrease of 0.4% from the final value obtained for March 2016 (about 2.5 million people).

the data of the statistical agency show yet for lowering youth unemployment of 4.6% (-5.2 thousand young people) and 1% among women (about three thousand).

the unemployment rate among young people stood at 29.9%, representing a decrease of 1.2 percentage points (pp) compared to March.

the number of unemployed men “remained virtually unchanged from the previous month,” while the unemployed adults increased by 0.6% (over 2800 men)

the adult unemployment rate was 10.6%, which represents an increase of 0.1 pp over the month above.


Consumer confidence and economic climate increase in May – Express

The confidence indicator of consumers resumed the upward trend in May, after decreasing in the previous month, and the economic climate increased between March and May, released on Monday the National Statistics Institute (INE).

the indicator of consumer confidence (calculated through surveys to individuals) improved in May, reaching -11.9 points (-12.4 points in April), after decreasing in the previous month and “resuming the trend up since the beginning of 2013 “.

the economic climate indicator (calculated through surveys of companies from various sectors of activity), in turn, moved in May to 1.2 points (the 1.1 points observed in April).

“in the reference month, confidence indicators increased in trade and construction and public works and decreased in services and manufacturing,” the INE.

the INE confidence indicators are calculated using moving averages three months of percentage balances inquiries. A negative number means that there were more pessimistic responses than optimistic.

According to the INE, the evolution of the confidence indicator of consumers in May “resulted from the positive contribution of perspectives on the evolution of the financial situation of the household , the country’s economic situation and savings. “

Confidence falls in industry and services rises in construction and trade

in the manufacturing industry, the confidence indicator decreased between March and May, reflecting the negative contribution in the last month of production prospects, while opinions on the evolution of global demand and on the ‘stocks’ of finished products contributed positively.

the indicator of confidence building and public works increased “slightly” in May, after decreasing “tenuously” in the previous month, as a result of the recovery in employment prospects, since opinions on the order book reported developments negative.

As for the trade confidence indicator increased in April and May, noting the last two months a positive contribution of all components, activity expectations, opinions on the volume of ‘stocks’ and on the volume of sales.

in services, the confidence indicator decreased after increasing “expressively” in April, due to the negative evolution of views on the evolution of the order book and assessments on the activity of the company.

the European Commission also announced on Monday that the indicator of economic sentiment rose 0.7 points in the euro area (to 104.7 points) and 0.5 points in the EU European (to 105.7 points) in May compared to April, the month in which the indicator had grown, reversing the downward trend observed since January.

According to the Directorate General for Economic and Financial Affairs the European Commission, among the five largest economies in the euro zone macroeconomic indicator increased in France (1.5 points), Germany (0.4) and Italy and retreated in Spain (-0.4) and the Netherlands (- 0.1 points).

in Portugal, the economic sentiment indicator fell by 2.0 points in May to 105.2.

the rise in economic sentiment in the euro area results in significant improvements in consumer confidence and business in retail trade and construction sectors, while in industry this remained stable and decreased slightly in the services sector.

the economic sentiment indicator calculated by the European Commission’s statistics office measures the confidence and the expectations of consumers and businesses as the economy.

the INE and the European Commission use different methodologies to calculate their indicators.


Euribor rates fall to minimum to 3, 6 and 9 months and remain 12 months – Correio da Manhã

Euribor rates fell today to minimum values ​​the three, six and nine months and remained 12 months on Friday.

The Euribor three months in negative values ​​since April 21, 2015, was now set at -0.261%, a new low ever.

The Euribor six months, the most used in Portugal in mortgage loans and entered into negative territory for the first time on 06 November, also fell today to 0.151%, a new low ever .

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Oil closes week with prudent low – Estado de Minas

Oil fell on Friday with valoriação dollar and a prudent market before the long weekend for Monday’s holiday in the United States.

In New York, a barrel of ” light sweet crude “(WTI) for delivery in July fell 15 cents, to $ 49.33.

in London, the Brent barrel, also for July, fell 27 cents, to $ 49.32.

“.. the important thing is that prices do not go far enough $ 50 floor fell, but not collapsed that’s a good sign,” said Carl Larry, Frost & amp; Sullivan.

Oil prices surpassed last session, $ 50 for the first time since last year.

“With a holiday in the United States on Monday, a speech of the president of Fed Janet Yellen on Friday and the summit prospect of OPEC (Organization of Petroleum Exporting Countries) no one wants to be exposed to many risks “, said Larry.

Yellen said on Friday that it is possible raise interest rates in coming months. Immediately after his comments, the dollar rose, negatively influencing the oil market.

“In addition to the Fed’s intentions, also weighed apathy to the summit of OPEC in Vienna, said Matt Smith of ClipperData.


Sunday, May 29, 2016

BMW invests in Scoop, a rival of the Uber – automonitor


BMW through its New York branch i Ventures , announced a partnership with the mobility service Scoop, Uber rival.

the German construction company thus becomes the third company auto industry advertising in recent days, a partnership with a transport and mobility services company after Toyota entering the capital of Uber and Volkswagen signed with Gett.

Launched in August 2015 the application Scoop made possible over 40,000 trips since then, but remains almost unknown to the vast majority of the public. The reason for this is that its users are mostly workers of large companies in San Francisco, Palo Alto, Sunnyvale and San Jose.

With the investment of BMW in Scoop, it is expected to the application continues to grow and prosper. Unlike other apps like Uber, the purpose of this application is to reach as soon as possible destination and thus save money and reduce greenhouse gas emissions – the application’s creators estimate that a vehicle unless the roads is the equivalent in CO2 the planting of 447 trees in a year.

Also according to the officials, the Scoop ensures arrival at the destination by the shortest path which, from the arrival to the market, have already allowed to save more than 800 000 kilometers of ‘useless’ trips.

users of the application can choose between the driver function or passenger on each trip and, depending on the chosen departure time, the proximity of other users and time destination, Scoop algorithm indicates the more ‘viable’ user.


defense Moving Public School brand demonstration for June 18 – Observer

A movement in defense of public school called a demonstration for June 18 in Lisbon, according to information sent to newsrooms by the National Federation of Teachers (Fenprof). According to the statement of the information behind this movement are citizens, various organizations and entities of Portuguese society that are promoting a petition “that already brings together tens of thousands of signatures.”

The goal the petition, as well as the manifestation, it is a public school quality and democratic. “In a moment as important as what we experienced in education, it becomes even more important to affirm the Public School and simultaneously reject the idea that public and private will be one and the same,” reads the statement.

they say respect all educational responses, but point out that public and private offering “have different nature and as such should be respected.” “As for financing, to the State to ensure that it is appropriate to Public School, contratualizando with private only where there is public response failure,” support.

They maintain that the public school “is promoter equal opportunities “, which is why the Portuguese Constitution gives the state” the duty to promote a network of public facilities to meet the needs of the entire population. “

” Despite the limitations imposed by various reasons order, essentially, the public school has fulfilled its mission recognizing in it a quality response and for all, the result of the efforts of its employees, parents and guardians of local councilors and all who believe to be the School public engine of progress and building a more democratic and united future, “reads the statement.

Together for these goals are public figures as Armenio Carlos, CGTP-in, Ana Benavente, António Teodoro David Rodrigues, the Pro-Inclusion Association, Heloisa Apolonia, the Ecologist Party the Greens, Joan Mortágua, the Left Bloc, Mário Nogueira, the Fenprof, or Michael James, the PCP. According to the statement, will also be present Isabel Gregory (CNIPE), Isidoro Roque (FERLAP), Manuel Pires da Rocha (Director of the Conservatory of Coimbra), Norberto Pires, Paulo Sucena Porfirio Silva (PS) and Santana Castilho.

the event is scheduled for 14:30 June 18, at Parque Eduardo VII in Lisbon. During the day Sunday, at the Book Fair, there will be collecting signatures for the petition, being also marked a Public Tribune for June 3 in Largo de Camões in Lisbon.


Airlift of TAP exceeds 100,000 passengers in two months – Express

Operated by TAP Express (former PGA), the airlift call, launched on 27 March, works with time matches the time and two counters to check in exclusive. “The important thing is to get to the airport knowing that very soon is out another plane. The idea is to enter into effective competition with the train,” said Fernando Pinto, chief executive of the company two months ago.

from March 27 until the beginning of this week, according to data passed to Express by the company, TAP has carried 101,211 passengers between Lisbon and Porto, which represents an increase of 82% compared to 55,725 transported in the same period last year.

the average occupancy rate is around 65%, which TAP considers “good for little more than a month of service.” The company’s goal is to grow especially in the so-called point to point, that is the pure flights between the two cities. So with the airlift, “transport plane already competes with other modes of transport both in price and total duration of the trip.”

With an offer of 36 daily flights (18 each way) , which makes a total of 252 weekly flights (previously 114), the operation is done by four ATR72 aircraft (70 seats each) – one of which backup – and in time with increased demand, Airbus A320 family. The most popular periods, said the company, take place between 7 am and 10 am and between 17h and 22h30 (Lisbon / Porto) and between 6:30 AM and 10:30 and between 16:30 and 19h30h (Porto / Lisbon).

in addition to price, which varies between 39 and 99 euros per route, another “determining factor for the increasing demand is flexibility to not penalize the passenger if it is late or arrive early at the airport,” he says the Express official source of the company.

“it created a route itself at airports to facilitate boarding and disembarking providing time savings, indispensable in a short route,” explains the same source. “The improvement is especially noticeable in Lisbon more difficult airport to transit, where check-in is at the entrance to the matches, with the premium area with access to the same area to a proper control of X-ray, very close doors boarding, “he adds.

Although bookings for this route to be made” very top of the day, the existing amount until the end of the year is very significant, standing at growth already acquired that vary . over the months between 28 and 65%, “says

Remember that this reinforcement operation between Lisbon and Porto coincided with the end of four routes to European destinations, considered unprofitable by the company: Barcelona, Brussels, Milan and Rome from Porto. Lisbon also canceled “loss-making routes.”: Zagreb, Budapest, Gothenburg, Hanover and Bucharest

The end of the route from the Port took the Mayor of Porto Rui Moreira to criticize the strategy of TAP and to admit “appeal to boycott the region” to the carrier, accusing her of having an ongoing strategy to “destroy the airport Francisco Sá Carneiro” in Porto, and building in Lisbon, “a new airport and a new bridge” .

Between October 2014 and October 2015, as reported the Express in February, TAP lost more than eight million with the routes in Port however suspended.

Despite the growth registered in the airlift in the first four months of this year, TAP recorded a passenger decline at the Port of 6.6% (under 33,400) to 472,726, reducing its share of market by 4.3 percentage points to 18.7%, according to data from the Francisco Sa Carneiro Airport quoted by PressTUR. The same data show that two out of every three passengers traveling to / from the Port used low cost company, which gained 4.2 points to market TAP Portugal and SATA, below 20%.


Portuguese palace among the most expensive for sale by Sotheby’s – Daily News – Lisbon

is on sale for 16.7 million euros and occupies 14 hectares. It is located in Azeitão, near the Quinta da Bacalhôa.

The news comes in the latest edition of the Billionaire magazine that refers to the site of Sotheby’s auction house. According to the description in the latter, the palace is the sixteenth century, reaching about “30 minutes from Lisbon”, presenting a facade covered with Italian tiles, the “style istoriat the” manufactured in the city of Urbino.

According to Sotheby’s, the property has a lake with 900 square meters, where the center stands a building shaped temple. It has 16 rooms and is referenced in the work Noble Houses of Portugal. The building itself covers an area of ​​1573 square meters.

In the list of the seven most expensive properties currently on the market, the palace in Azeitão ranks third. The first belongs – paradoxically -. To a contemporary castle, built in the state of Connecticut, in 2003, which is on sale for about 35 million

The pretext for the establishment of the list was the birthday baptism of queen Elizabeth II, who succeeds Sunday. The note magazine that Buckingham Palace is valued at 1.3 billion euros.


Saturday, May 28, 2016

Thirteen districts under Yellow Warning until 18:00 – Daily News – Lisbon

IPMA provides that may occur thunderstorms, and heavy showers

The Sea Portuguese Institute and the Atmosphere ( IPMA) raised today to the 13 continental Portugal districts now under Yellow Warning until about 18:00 due to rain forecast.

at Viana do Castelo districts of Braga, Porto, Aveiro and Coimbra , join now Portalegre, Castelo Branco, Leiria, Santarem, Vila Real, Guarda, Viseu and Bragança.

in some districts, the institute states that may occur thunderstorms, and heavy rain.

the Yellow Notice, the third most severe in four scale, means “risk for certain dependent activities of the weather situation.”


Porsche creates Scan Competence Center – Motor More

The Porsche Supervisory Council approved the establishment of Porsche Digital GmbH, a subsidiary of the brand that aims to further develop and empower the Porsche leadership of solutions digital mobility in the segment of premium vehicles. The Director of this subsidiary will Thilo Koslowski, considered by the media as an expert in the automotive sector, internet and technology in his former company, Gartner. Koslowski will work at the company headquarters, which will be located in Ludwigsburg, near Stuttgart, although the company will have other facilities, which will be in Berlin, Silicon Valley and China.

“Our way of business is changing increasingly dynamically, “said Dr. Wolfgang Porsche, Chairman of the Supervisory Board of Porsche AG. “Porsche Digital GmbH will make our strong brand, develop innovative experiences for customers and attract new partners. We are combining the traditional spirit Porsche with the power of new technologies. “

For the CEO of Porsche, Oliver Blume, the new subsidiary” it is the logical way in order to put the Porsche in a successful position in . digital future “Blume also said that for Porsche scanning has three key pillars: product, customers and businesses. According to Blume “Porsche Digital GmbH is our competence center where ideas and dreams become reality.”

Here, the digital experiences for customers, products, areas and business processes will be identified and developed. The subsidiary of Porsche will cooperate very closely with all departments in testing and implementation, creation and innovation of new products. Thus, the Digital GmbH is considered a link between Porsche and innovations that are emerging globally, which applies in particular to areas of connectivity, mobility and autonomous vehicles. As part of the digital processing Porsche, the new subsidiary will promote long-term suitable partners to create a digital ecosystem.


Weekend rain, more intense on Saturday – Journal News

The end week will be marked by the occurrence of rain, more intense on Saturday, in the territory of the continent.

“we are under the influence of a depression located west of the continent and that will affect the the coming days. So we have the occurrence of periods of rain or showers, especially on Saturday, “he told Lusa Cristina Simões agency meteorologist Sea Portuguese Institute and the Atmosphere (IPMA).

according to Cristina Simões, for this Friday is already provided some precipitation, but on Saturday will be more intense.

“because of the rush, was issued a” yellow warning “for Saturday in Viana district Castle, Braga, Porto and Aveiro. with regard to the wind, gets the southern quadrant, weak to moderate, “he said.

Cristina Simões said that on Sunday should occur precipitation, but” not as persistent as on Saturday. “

” as for temperatures, they tend to go down tomorrow [Saturday] and then remain more or less the same order of magnitude, that is, with the maximum of around 20 degrees Celsius and minimum 14/15 “, he said.

the IPMA provides for today on the mainland, little cloudy sky, making it generally cloudy from the morning, with showers, more frequent coast of the northern and central regions, being weak in the south.

the forecast also points to wind generally weak southern quadrant blowing moderate on the west coast from the afternoon and moderate to strong in the highlands, possibility of fog or morning fog in some places and small rise in minimum temperature on the coast of the northern and central regions.

for Wood, it is expected periods of cloudy weather, showers, weak wind moderate southwest, blowing moderate to strong in the highlands, running west from the middle of the afternoon and the small rise in minimum temperature.

in the western group (Flores and Corvo) is expected sky periods very Patchy good, increasing cloudiness from the end of the day, light showers in the morning and moderate north wind becoming bonançoso and turning gradually to the southwest.

for the core group (Graciosa, Terceira, São Jorge, Pico and Faial) is expected periods of cloudy weather with open good, showers generally weak especially at dawn and morning and moderate north wind, turning to northwest and becoming weak to bonançoso.

the institute provides for the eastern group (São Miguel and Santa Maria) very cloudy periods with open good, generally light showers and northwest wind bonançoso to moderate.

As for temperatures in Lisbon will vary between 15:21 degrees Celsius in Porto between 13 and 20, in Vila Real between 9:20 in Viseu between 8:18 in Bragança between 8:20 in Guarda between 7:15 in Coimbra between 11 and 21, Castelo Branco between 10 and 20, in Santarem between 12 and 22, in Évora between 10 and 22, in Beja between 10 and 23 in Faro between 14 and 21 in Funchal between 18 and 21 in Ponta Delgada between 13 and 18, in Horta between 24:17 and Santa Cruz das Flores between 13 and 17.


Rain puts 13 districts under yellow warning – publico





The Sea Portuguese Institute and the Atmosphere (IPMA) rose Saturday to 13 districts of mainland Portugal in Yellow Notice, until about 18h, due to the forecast of rain.

At Viana do Castelo districts of Braga, Porto, Aveiro and Coimbra, join now Portalegre, Castelo Branco, Leiria, Santarem, Vila Real, Guarda, Viseu and Bragança. In some districts, the institute states that may occur thunderstorms, and heavy rain.
Yellow warning, the third worst in four scale, means “risk for certain activities dependent on the weather situation.”

for this Sunday, the IPMA provides periods of cloudy weather, rain showers, and weak and infrequent in the South and wind weak to moderate.




Auditors force People to predict loss of 2,000 million – Jornal de Negócios – Portugal

The People’s Bank has revised the forecasts included in the report and the first quarter of this year accounts, updating the risks it faces in its operation. A measure required by the auditors, at a time when the Spanish bank announced a capital increase of EUR 2.5 billion which caused an abrupt and historic fall of its value on the stock exchange.

In the document, the bank led by Ángel Ron estimates that can close 2016 with a net loss of nearly 2,000 million, as a result of provisions that can reach 4,700 million euros due to a variety of risk factors .

Among the risks updated by the bank, following the requirements of auditors, are the scene of political and economic uncertainty in Spain, the worsening of the global macro-economic outlook, instability of financial markets or the impact low interest rates in the profitability of the sector. And still uncertainty over disputes relating to the minimum interest rates whose legality the European Court of Justice is evaluating. If the decision is of nullity of clauses (which slow the decline in reference interest in the benefits of real estate loans), the People’s Bank may have to absorb losses for which now provisioned 684 million euros, against 350 million previously provided.

In the same report and updated accounts, the People’s Bank states that the estimated loss of 2,000 million will be covered “fully” to sound effects, the increase of capital of EUR 2,500 million announced Thursday , may, 27. And “the temporary suspension of distribution as dividend to face the above context of uncertainty with the greatest possible strength.”

The People’s Bank suffered on Thursday the biggest drop in the stock exchange of its history (-26%) after announcing the capital increase of 2,500 million euros with a discount of 45% after have capital needs have been identified to cover balance sheet weaknesses related to the existence of troubled assets, mainly in the real estate sector.

The Spanish bank has a significant presence in Portugal, counting at the end of 2015 with 169 branches and 1,162 employees in the Portuguese market. And he was recently in the race for Banif, eventually give up.

Popular Bank’s shares to fall below 4.91% to 1.65 euros.