Wednesday, August 31, 2016

The growth rate is not desirable, says Caldeira Cabral – Observer

The Economy Minister Manuel Caldeira Cabral said the INE data to revise upwards the GDP growth in the second quarter show an acceleration, along with other indicators, but do not yet meet the Government.

“what these data show is an acceleration of the economy. The chain data show that the second quarter has had a better growth than the first and the indicators we have of the third quarter are also very positive, “said Manuel Caldeira Cabral, told Lusa in Maputo on the sidelines of a visit three days to Mozambique.

the official noted that the economy was in a period of stagnation since the beginning of last year to the first quarter of 2016 and the upward revision announced by the National Statistics Institute ( INE) is “a first acceleration signal”, but still below the desirable.

“[the economy] is not with the pace of growth we would like,” he said.

the Portuguese economy grew 0.9% in the second quarter over the same period and 0.3% in the previous quarter, according to the INE, which reviewed Wednesday upwards by 0.1 percentage points each of the values.

on 12 August, the flash estimate, the INE had reported that the gross domestic product (GDP) Portuguese had grown by 0.8% between April and June this year compared to the same months last year and which had increased 0.2% over the first quarter of this year.

According to Caldeira Cabral, “there are other positive signs”, pointing to the case of employment, which “has been stalled for almost a year,” but the numbers the second quarter indicate an increase of almost 90,000 jobs and “demonstrate that you are there new hires and trust” in the Portuguese economy.

“More slowly than we would wish, companies are re-invest and the recovery is possibly gaining pace, “he said, but insisting that the growth indicators are still little significant and we need to wait for more information.

for Manuel Caldeira Cabral,” move from a growth of 0 2% to 0.3% is still little, but it’s a positive development “and puts the country in a more optimistic trend than in previous forecasts.

” I stress that an increase of 0.2% was consistent with an increase of 0.9% on an annual basis. An increase of 0.3% already puts us in an annual growth if this growing chain remains near 1.2%, “he said, maintaining confidence that” the next quarter to continue this acceleration. “

the government anticipated that GDP grow 1.8% this year, a more optimistic projection than the International Monetary Fund (1.4%), the European Commission (1.5%) and the Bank of Portugal (1 3%).

Manuel Caldeira Cabral ends a visit to Mozambique, where on Monday attended the opening of the Maputo International Fair and visited the 31 exhibitors at the pavilion of Portugal, the world’s main event business in the country.

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Semapa results fall 7.7% to 47.3 million in the half – TVI24

The results of Semapa, industrial group operating in the areas of forest, pulp, energy, paper, environment and cement, had a fall 7.7% to EUR 47.3 million in the first half of 2016 compared to the same.

“the earnings per share stood at 0.582 euros / share, representing a 20 increase, 9% over the same period as a result of actions extinction occurred after the first half of 2015, “the company said in a statement.

the consolidated turnover of the group Semapa down 0.7% to 1,022 8 million in the six months of this year, with exports and overseas sales to amount to 802.6 million or 78.5% of that volume.

OE arnings Before Interest, Taxes, Depreciation and amortization (EBITDA) – earnings before interest, taxes, depreciation and amortization – increased by 7.3% to 240.5 million in the first six months of the year compared to the same period of 2015, with the margin to rise 1.8 percentage points (pp) to 23.5%.

on June 30, 2016, consolidated net debt totaled 1.9112 billion, which represented an increase of 108.2 million on the figure recorded at the end of the 2015 fiscal year.

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Company says oil exported was in “perfect condition” – TVI24

Extra virgin olive oil or virgin olive oil only? The question was posed by Protest Brazil – Consumer Association, for which the brand Beirão contained wrong information on the label. Something that the Portuguese company producer disputes, ensuring that all supplies to Brazil were in perfect market conditions.



The company Manuel Serra SA, holding the tag is certified by major international standards such as the International Featured standards (IFS), which requires a strict control in the input feedstock, control of the production process and maintaining samples of all batches produced “ , said in a statement sent to LUSA .

at issue are tests by Protest Brazil 19 brands of extra olive oil virgin who will have discovered that four are a mixture of refined oils, among which are allegedly three Portuguese origin.

the known case on Wednesday has revealed that two brands on the market Brazilian, Tradition and Figueira da Foz, are forgeries obtained from the mixture of vegetable oils. In the case of Beirão, virgin olive oil would be sold as extra virgin.

The production company explained that Beirão was disqualified in the organoleptic test, which evaluates the taste and smell, for example. But this does not influence the quality of olive oil.



The Manuel Serra SA may show that all supplies made for Brazil, Beirão brand, were in perfect market conditions and met all the legal requirements “ , says the company statement, according to which its internal laboratory, accredited by the Ministry of Agriculture of Brazil, tests all oils sent for this market, “which means that the analyzed lot is not an exception.”

laboratory analysis is as expected for extra virgin olive oil, having only failed to organoleptic / sensory test “ refers to Manuel Serra, adding that he was not given the right to make any sense counter-analysis.

the Portuguese company also states that, to date, does not know the conditions of collection and sample preparation, laboratories where analyzes were performed, or the panel of experts who took the test.

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New store opens in citizen Lisbon Picoas in a year – Magazine Saturday

12:18 • Business

Filomena Launches – Business Journal

The Council of Lisbon and the Agency for Administrative Modernisation (AMA) signed on Wednesday, 31 August, a protocol for installation of a new store citizen on the 1st floor of the Market January 31, located in the Picoas area, a few minutes from Praça Duque de Saldanha. The municipality gives the space and will take charge of the rehabilitation works and the expectation is that the space open to the public within a year.
According to the Secretariat of State for Administrative Modernisation, Graça Fonseca, are for now, guaranteed three anchor services: registers and notaries, the Tax and Customs Authority and Social Security. Over the next year, others will be negotiated, particularly with private entities, such as the main providers of electricity services, water and communications or the Via Verde.
The side of the Lisbon Chamber will be there to EMEL and a new Active Ageing Desk, which will concentrate all the services that exist in the city for the older population, such as social, cultural, recreational, seniors universities and others, said Fernando Medina, president of the Chamber in the speech at following the protocol signing. On the other hand, and as the market January 31 is located in Arroios parish council also is there will your service.
This new store replaces that previously existed in the Restauradores and that was closed in 2013 on the initiative of the Executive earlier due to the amount of income, considered too high, and the fact that, according to the then responsible, there are many complaints about the services provided there. “Discipline is” now “an injustice” and “returns to citizens a space that could not have been terminated without being replaced,” said Maria Manuel Leitão Marques, Minister of the Presidency and Administrative Modernization.

Now, the idea is “not only replace what existed, but open up new services,” also announced the ruling. An example is the Institute for Mobility and Transport, who will there “test new offices of personalized service for special services, as does the Ministry of Justice.” Provision is also made room for conducting driving tests.
Investment up 1.7 million euros
Speaking to reporters on the sidelines of protocol signing ceremony, Graça Fonseca pointed out that the new store will have a location “very central” to “privileged” access. On the other hand, he said, “the space is very well maintained,” so it will not be necessary background work, it is hoped that within a year you can open to the public.
The rehabilitation works They will be made on the 1st floor of the market, and commercial activities that are already there are all concentrated on the ground floor. The works will be the responsibility of the local authority and, according to Graça Fonseca, should be located “between 1.5 and 1.7 million.” In return, the state will pay an income after the camera during a period which, according to it was defined in the protocol, will be 50 years.
Fernando Medina explained that this option for the market to install the citizen Store is enters a recovery strategy of these spaces, in which the camera has been focusing. “This decision will allow to jump into our rehabilitation program for municipal markets,” he said.
President of the local authority believes that “the influx of people will be very significant,” and that this also will bring a boosting the own local businesses. “The purpose of the citizen card, people will be able to do their daily little shopping,” he joked. Access to the store, moreover, will make up by the market itself, but there will also be a direct entrance from the Avenida Fontes Pereira de Melo.


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Growth does not yet meet the Government admits Economy Minister – Daily News – Lisbon

Portuguese economy grew 0.9% in the second quarter, announced on Wednesday the INE

The Minister Economy said Wednesday that the INE data to revise upwards the GDP growth in the second quarter show an acceleration, along with other indicators, but does not satisfy the government.

“what these data reveal is an acceleration of the economy. chain data show that the second quarter has had a better growth than the first and the indicators we have of the third quarter are also very positive, “said Manuel Caldeira Cabral, told Lusa in Maputo, on the sidelines of a three-day visit to Mozambique.

the official noted that the economy was in a period of stagnation since the beginning of last year to the first quarter of 2016 and the review for high released today by the National Statistics Institute (INE) is “a first acceleration signal”, but still below the desirable.

“[the economy] is not with the pace of growth we would wish” he said.

the Portuguese economy grew 0.9% in the second quarter over the same period and 0.3% in the previous quarter, according to the INE, which revised upwards by 0.1 points today percentage each value.

on 12 August, the flash estimate, the INE had reported that the gross domestic product (GDP) Portuguese had grown by 0.8% between April and June this year compared the same months last year and had increased 0.2% over the first quarter of this year.

According to Caldeira Cabral, “there are other positive signs”, pointing to the case of employment, which “was almost stagnant one year, “but the second-quarter figures indicate an increase of almost 90,000 jobs and” demonstrate that you are there new hires and trust “in the Portuguese economy.

” More slowly than we would wish, companies are re-invest and recovery is possibly gaining pace, “he said, but insisting that the growth indicators are still little significant and we need to wait for more information.

for Manuel Caldeira Cabral, “move from a growth of 0.2% to 0.3% is still little, but it’s a positive development” and puts the country in a more optimistic trend than in previous forecasts.

“I note that one increase of 0.2% was consistent with an increase of 0.9% on an annual basis. An increase of 0.3% already puts us in an annual growth if this growing chain remains near 1.2%, “he said, maintaining confidence that” the next quarter to continue this acceleration. “

the government anticipated that GDP grow 1.8% this year, a more optimistic projection than the International Monetary Fund (1.4%), the European Commission (1.5%) and the Bank of Portugal (1 3%).

Manuel Caldeira Cabral today ends a visit to Mozambique, where on Monday attended the opening of the Maputo International Fair and visited the 31 exhibitors at the pavilion of Portugal, the world’s main business event in the country.

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Prime Minister argues that with austerity would lower growth than the present – Jornal de Negócios – Portugal

“If the line of austerity we pursued to increase taxes, cut wages, to increase VAT, certainly we would still have less growth than we have at this time.”

This is how António Costa , Prime Minister commented on the data from the National Statistics Institute, which has revised upwards the growth of gross domestic product from 0.8% to 0.9% in the second quarter compared to the same period of 2015.

the prime minister was optimistic – although mentioning the difficulties markets “very important” for national exports – although the new annual growth is half the 1.8% target that the Government has set to GDP this year.

in contrast to the “austerity” that attaches to the previous coalition government PSD and CDS, the socialist Antonio Costa stressed , in remarks broadcast by RTP3, that is needed ” accelerate the factors contributing to the growth of the economy, “speaking in” replacement income “in implementing the program to Capitalize companies and” accelerating the implementation of EU funds “.

the PSD reacted to data, the voice of Maria Luís Albuquerque, arguing that it is talking about “facts and figures” and “ is undeniable that this model is leading to stagnating economy.” But the CDS, the leader Asuncion Ridges, argued that the “small correction” by the INE does not take the country “c very anemic rowth for what would be needed and what was promised by the same government.”

Deficit “comfortably below 2.5%

In their replies to journalists, transmitted by RTP3, António Costa insisted that there are no problems in budget execution so far and that compliance with the deficit is not in question.

“the goal we have in the deficit (…) [is] 2.5% and today we can say that we have a comfortably deficit below 2.5%, “the Prime Minister insisting on the number that has been enunciated.

 

At this time, the recapitalization of Caixa Geral de Depósitos, of 5,160 million euros, which involves the mobilization of 2,700 million new state, will not go into deficit. However, European statistical rules may cause the accumulated losses by CGD in recent years (between 2013 and 2015), corresponding to 0.6% of GDP, are incorporated in the deficit.


 

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The growth rate is not desirable, says Caldeira Cabral – Observer

The Economy Minister Manuel Caldeira Cabral said the INE data to revise upwards the GDP growth in the second quarter show an acceleration, along with other indicators, but do not yet meet the Government.

“what these data show is an acceleration of the economy. The chain data show that the second quarter has had a better growth than the first and the indicators we have of the third quarter are also very positive, “said Manuel Caldeira Cabral, told Lusa in Maputo on the sidelines of a visit three days to Mozambique.

the official noted that the economy was in a period of stagnation since the beginning of last year to the first quarter of 2016 and the upward revision announced by the National Statistics Institute ( INE) is “a first acceleration signal”, but still below the desirable.

“[the economy] is not with the pace of growth we would like,” he said.

the Portuguese economy grew 0.9% in the second quarter over the same period and 0.3% in the previous quarter, according to the INE, which reviewed Wednesday upwards by 0.1 percentage points each of the values.

on 12 August, the flash estimate, the INE had reported that the gross domestic product (GDP) Portuguese had grown by 0.8% between April and June this year compared to the same months last year and which had increased 0.2% over the first quarter of this year.

According to Caldeira Cabral, “there are other positive signs”, pointing to the case of employment, which “has been stalled for almost a year,” but the numbers the second quarter indicate an increase of almost 90,000 jobs and “demonstrate that you are there new hires and trust” in the Portuguese economy.

“More slowly than we would wish, companies are re-invest and the recovery is possibly gaining pace, “he said, but insisting that the growth indicators are still little significant and we need to wait for more information.

for Manuel Caldeira Cabral,” move from a growth of 0 2% to 0.3% is still little, but it’s a positive development “and puts the country in a more optimistic trend than in previous forecasts.

” I stress that an increase of 0.2% was consistent with an increase of 0.9% on an annual basis. An increase of 0.3% already puts us in an annual growth if this growing chain remains near 1.2%, “he said, maintaining confidence that” the next quarter to continue this acceleration. “

the government anticipated that GDP grow 1.8% this year, a more optimistic projection than the International Monetary Fund (1.4%), the European Commission (1.5%) and the Bank of Portugal (1 3%).

Manuel Caldeira Cabral ends a visit to Mozambique, where on Monday attended the opening of the Maputo International Fair and visited the 31 exhibitors at the pavilion of Portugal, the world’s main event business in the country.

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Repurchase of 50% of the TAP state approved by the Competition – publico


 
         
                 

                         
                     


                         

                 

 
 

The Competition Authority (AdC) gave the green light to the operation embodying the new shareholder division of TAP, Parpública and the Atlantic Gateway consortium, the Portuguese businessman Humberto Pedrosa and American David Gary Neeleman.

at issue is the repurchase of shares by the Parpública to the state get 50% of the airline’s capital, currently controlled by a consortium of two businessmen. The Competition Authority decided by the “no objection” to the concentration, not putting obstacles to business, considering that “it is not likely to create significant barriers to effective competition in the relevant markets identified.”

the decision on joint control of TAP Parpública, the holding that manages the State’s stakes in public companies, and the Atlantic Gateway was taken last Thursday, August 25.

But when in October 2015 ruled on the privatization of the Portuguese carrier, the regulator not impeded. At issue then was the sale of the majority stake in TAP the Atlantic Gateway (61% of the shares, leaving the Portuguese state with a 39% position). The privatization model has been reversed by the current government, which negotiated with Pedrosa and Neeleman share buybacks by the State, which is just 50%.

The shareholding of the Atlantic Gateway will be between 45% and 50% because it will depend on the share capital actually be in the hands of workers, depending on the outcome of the public offer for sale of 5% that is destined to company employees.

the conclusion of business will give the state 50% of the company’s capital is expected for September. Only then will start selling to workers. But for the transfer of shares takes place smoothly, it is necessary to know whether the Civil Aviation Authority (ANAC) gives green light to the operation.

The regulator chumbou the first model for sale, as the private consortium that has become largest shareholder of TAP did not meet EU rules require that companies in the sector are controlled by European investors. In June, the Atlantic Gateway sent to ANAC elements on the amendment of the shareholders’ agreement between Pedrosa and Neeleman, with which the Portuguese partner will have gained more power.

President’s aviation supervisor promised to review the changes to August, but the final opinion is yet to know. In the limit, if it considers that the consortium does not meet European standards, the company will lose its license to operate.

Before the Competition Authority to act, the competition regulator in Brazil, where TAP is present, I had given the nod to the operation in July. Also the Brazilian Administrative Council for Economic Defense (CADE) has not imposed restrictions. The Portuguese regulator had been notified of the operation on 20 July. Rachel Almeida Correia

                     
 
 
                 


             

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Government satisfied with the unemployment data and ensure “careful monitoring” – Destak

The Secretary of State for Employment welcomed today with the reduction in the unemployment rate to 11.1% in July, according to the provisional estimate of INE, ensuring that the Government maintains a “close monitoring” of market developments work.

“it is a positive indicator to add to the various indicators that we have had in recent months, whether data from the National Statistics Institute (INE) or the Employment and Vocational Training Institute (IEFP) . we are 10.8% [unemployment rate] quarterly, we have a proven track record of improvement that is clear in the labor market, unemployment IEFP last month is also the lowest level in seven years and these data are confirmed the trend of recent months, “said Miguel Cabrita Lusa.

according to the provisional estimate of INE released today, the unemployment rate was in July at 11.1%, identical to June, and there was a downward revision of June amounts to 11.1% compared to the initial estimate of 11.2%.

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Top-first half in more than a decade – Magazine Saturday

Top-first half in more than a decade

The hoteliers are pleased with the performance from January to June. There are more rooms occupied, the most expensive prices, with higher revenues for business. The Germans lead overnight stays among foreigners.

August 30, 2016 • Business

Wilson Ledo – Business Journal

the first half of 2016″ was the best in 12 years “in occupancy rate, average price per room and average revenue per tourist. The conclusion was revealed this Tuesday, August 30, the Association of Hotels of Portugal (AHP).
By June, the occupancy rate was 63.2%, up 3.4 percentage points year on year ( 59.8%). If there were more rooms occupied, these cost more guests:. The average price per room occupied stood at 72.3 euros, an increase of 6.3%
With each occupied room, hotels achieved a national the to 45.69 euros revenue, an increase of 12.2%.
tourists also spent more in this type of accommodation, with the average revenue increase 7% to 107 euros. The average stay stood at 1.88 days in the first half.
Most overnight stays was due to purposes of recreation, recreation and holidays. In four nights, one was Portuguese and three foreigners. Germany takes the lead (17%), followed on the podium by the UK (15%) and France (7%).
“In absolute terms, as usual, June was the best month of the semester, but in terms homologous variation, the months of March and May recorded the highest growth, “said the executive president of AHP, Cristina Siza Vieira, in a statement.


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Tuesday, August 30, 2016

Foreign occupied three of the four beds in hotels – TVI24

This is data that make glad the hotel. According to data from the Association of Portugal Hospitality (AHP Tourism Monitor), the first half of 2016 was the best of the last 12 years. Whether in terms of occupancy, average price per available room and average revenue per tourist.

The occupancy rate / quarter was 63.2%, plus 3.4 percentage points over the same period. The average price per occupied room stood at 72.3 euros, 6.3% more than in 2015 and equaling the 2004 figures.

Foreign dominated overnight stays, accounting for 75% of total . It fell to the Germans the highest percentage of occupation (17%), followed by British (15%), French (7%) and Spain (5%).

The average stay stood at 1.88 days, the same as the first half of last year.

according to the AHP Tourism Monitor, the “Azores stood out in terms of occupancy rate by the good performance compared with 2015,” while the Great Oporto and the Algarve had better performance in terms of price.

the main motivation of overnight stays was the “leisure, recreation and holidays” (76%), business followed by / professional (15%) and other reasons (9%).

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Greece contracted 0.9% in the second quarter – TVI24

The economy of Greece grew 0.2% in the second quarter compared with the previous three months, but decreased by 0.9% on-year.

The provisional figures published by the Greek Institute for Statistics (ELSTAT) indicate a downward revision of the initial estimates, published on 12 August, which showed a growth of Gross Domestic Product (GDP) of Greece 0 3% in the second quarter compared to the previous three months.

the annual estimates were also revised to a drop by 0.7% to a deeper contraction of 0.9% between April and June compared to the same months of 2015.

in the first quarter of 2016, the Greek economy showed signs of little vitality , to contract 0.4% in chair and 1.3% over the same 2015.

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Sale of assets helps Mota-Engil profit to rise to 73 million – publico


 
         
                 

                         
                     

                 

 
 

The construction sector came to have at least three major construction groups to join the main index of the Lisbon stock exchange, but the “destruction of the construction sector,” the term that was used by António Mota in an interview Publico, left this North construction not only isolated in the PSI 20, as the only one that continues to show positive results. With the presentation of the interim results of builders realize that the difficulties are still installed. Mota-Engil has managed to improve the results, Teixeira Duarte had losses and Soares da Costa is seeking to survive through a special process Revitalization (PER) which is taking place in the Vila Nova de Gaia Court. Tuesday is the deadline for creditors claim dues amounting to EUR 700 million.

In the case of Mota-Engil, were sales of the logistics business (from the sale of Tertir group) and Indaqua that helped the company to improve net results of the group. At the end of the first half of this year net profit was 73 million euros, against 13 million in the same period last year. Despite this improvement, which also extends to the reduction of 234 million euros in net debt assigned to the group (which now stands at EUR 1221 million), the disclosure of interim results show that the turnover of the group is falling and that Latin America is assuming increasing importance in the group’s accounts.

As António Mota had already anticipated in the interview with Publico, not be long before that area of ​​the globe, with the Mexico to take the lead, have a higher turnover in the traditional market – in Angola. The domestic market had lost its importance long -. And this is one reason that leads the Chairman of the construction to say that the construction sector in Portugal was destroyed

The volume business amounted to 1036 million euros, a decrease of 4% over the same period. Latin America accounts for 344 million, after rising 19% over the previous period. Already the European market, which is still the most relevant to the Mota-Engil Group, shrunk 110%, allowing a turnover of 410 million euros. The African market has 335 million

According to the annual report, the profit before tax, interest and amortization (EBITDA) increased by 3% over the same period, to 149 million euros. The order book stood at 30 June 2016 in 4.6 billion euros, “reflecting portfolio ratio of orders / sales and provision of engineering services & amp; construction of 2.1 years and supporting the vision of growth in the medium and long term. ” The group intends to present soon its strategic plan for 2020.

In the case of Teixeira Duarte, net results remain in negative territory, at EUR 35.7 million (up 24.2 million the same period), “despite the improved operating performance of the group companies over the first half of the previous year,” reads the report submitted to the Securities market Commission (CMVM) on Monday late afternoon. With strong presence in the Angolan market, Oeiras the construction complains particularly of the variability of exchange differences and loss on impairment charges brought by participation in the Commercial Portuguese Bank (BCP).

The construction company has 83, 2% of its total turnover in foreign markets, so the variation of the exchange differences have particular impact on its results. If the first half of 2015 this variation was favorable to Teixeira Duarte on almost 19 million euros, this year the impact was negative at EUR 23.7 million.

The negative impact of the impairment loss on stake in BCP was 14.8 million euros. Only in the second quarter of this year, from 13.3 million euros negative that have been declared by the company in connection with the BCP meant to EUR 8.4 million.

The turnover of Teixeira Duarte was in first half of 2016 of 570 million euros, “reflecting a 16.7% decrease over the same period of 2015.”

                     
 
 
                 


             

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economic sentiment in the euro zone index fell to 103.5 in August – Diário do Grande ABC

The economic sentiment index in the euro zone, which measures the confidence of corporate sectors and consumers fell to 103.5 in August, 104.5 in July, according to data published today by the European Commission, the executive arm of the European Union. Analysts polled by The Wall Street Journal predicted lower fall indicator, 104.1. The August result is the lowest since March, but remains above the average of 100,0 of the series started in 1990.

Only the confidence of the bloc’s consumers fell to -8.5 in August, -7.9 in July, coming in line with the projection of the market, while confidence in the industrial sector decreased to -4.4, -2.6, also as expected. In addition, there was a decline in the confidence indicator in the services sector, +11.2 in July to +10.0 in August

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But the climate index of companies in the bloc fell to +0.02 in August, from +0.38 in July.

the fall in economic sentiment in the euro zone came despite the positive performance of the UK index, which rose from 102.6 in July to 104.0 in August, although it is still well below the levels seen in the months preceding the referendum of June 23 when the British electorate voted for leaving the country (the so-called “Brexit”) of the European Union. Source: Dow Jones Newswires

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Unemployment stabilizes in 11.1% in July – publico


 
         
                 

                         
                     


                         

                 

 
 

After three months in the fall, the provisional unemployment rate for July was stable at 11.1%. The estimates on the progress of the labor market, released on Tuesday, the National Statistics Institute (INE) lowers the June unemployment rate (to 11.1%) and changes the way shows the monthly data, giving more emphasis to the final unemployment rate than the provisional data for July.

the INE begins by noting that the final estimate of the June unemployment rate stood at 11.1%, “pursuing downward trend observed since February 2016 “. This figure explains, results from a downward revision from the provisional rate calculated above (from 11.2% to 11.1%).

This rate translates into 565,500 people unemployed, less 7300 than in the previous month. The employed population increased to 4,548,000 people, representing more 20,800 than in May.

Only after realizing the definitive data June, INE advances to the provisional estimates of July, pointing to a stabilization of unemployment in 11.1%, affecting 567,300 people. Also in July 2016, there has been a monthly increase in unemployed women population (1.5%; 4.1000) and adults (0.4%; 2.0000). The number of unemployed youth remained virtually unchanged from the previous month and the unemployed men decreased (0.8%; 2200).

Since the employed population is 4.558 million of people.

as with the data of June, the rate calculated for July is provisional and subject to revision. This is because the monthly estimates of the unemployment rate INE concern the quarter focused this month – that is, the data of July concerning the June, July and August (and that for the most recent month, the values ​​are calculated by projecting ).

the INE publishes every month estimates for the unemployment rate and four times a year determines the quarterly unemployment. These statistics have several differences. The monthly figures are seasonally adjusted and consider the population from 15 to 75 years while the quarterly statistics consider the population aged 15 or more years and do not take into account the effects of seasonality in employment and unemployment.

in the second quarter of 2016, the unemployment rate was 10.8%, the lowest level since 2011.

                     
 
 
                 


             

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Dilma answers 48 senators after nearly 13 hours of questioning – Globo.com

After almost 13 hours ended at 23h48 on Monday (29) the interrogation away President Dilma Rousseff, in the Senate. Dilma answered questions from 48 of the 81 senators, in addition to the prosecution and the defense questioning, defended his government, denied the charge that he committed the crime of responsibility and said again that his impeachment, if approved, will constitute an ” parliamentary coup “

in the process, removed president is accused of having committed the crime of responsibility in two measures of 2015: 1.) issue decrees that opened additional funds without the authorization of Congress; 2) delaying fund transfers to the Bank of Brazil, forcing the bank to bear own resources part of the Harvest Plan funding – which was considered by the Court (TCU) a “loan” of public bank to the government operation prohibited by the Fiscal Responsibility Law (FRL).

See questions and answers about the vote on the impeachment of Rousseff.

Before being questioned, Dilma made a 46-minute speech. She said “never” would resign and that is the target of a “coup”. Here’s the full text of the speech.

Interrogation
Senator Katia Abreu (PMDB-TO) was the first to address the president away. Former Minister of Agriculture Dilma, she is a leading advocate of the PT in the Senate, despite being affiliated with the PMDB, the party chairman in office, Michel Temer. Katia Abreu did not ask Rousseff, took the time to defend the mandate of the PT and praise his performance in the agriculture sector.

The Rapporteur of the impeachment proceedings in the Senate, Senator Antonio Anastasia (PSDB-MG) it was the fifth question Dilma. Favorable to the final departure from the PT, Anastasia asked about the decrees that release additional funds. Rousseff said disagrees with the assessment of senator that the Constitution prohibits the opening of these credits. According to her, the law gives Congress the possibility of creating a law that deals with this action and there is already a law that does this – the Annual Budget Law. “We open additional credits because the LOA 2015 thus authorized.”

Here are the questions asked by all the senators and the answers given by Dilma.

Around 13h, it was made a break for lunch. The away President used a president’s cabinet room of the House, Renan Calheiros (PMDB-AL), to make your meal in the former president of the company Lula, singer and composer Chico Buarque and former ministers of his government.

Aécio Neves
in the back of the range, the first senator to question Dilma was Aécio Neves (PSDB-MG), presidential candidate defeated by PT in 2014. Aécio said Rousseff won the election of 2014, “lacking the truth and committing illegalities.” When answering, Dilma said that soon after the election, there were attempts to destabilize the government and mentioned actions of the PSDB.

“From following my election day, a number of policy measures to destabilize my government have been taken, “the president away. A few days after the election result, the PSDB entered the Superior Electoral Court (TSE) with a request for audit to verify the fairness of the presidential election. The party also asked the TSE electronic voting data to make an audit of the voting systems.

Aécio said Dilma “uses the votes he received as justification for acts taken” in office and are questioned now. And asked “what dimension” she feels responsible for the Brazilian recession for 12 million unemployed and the average loss of 5% of the income of workers.

Dilma took the answer to criticize what he called the possibility of “indirect election” as president through the impeachment process.

“I respect the direct vote in this country, I think the direct vote is a great achievement. I prefer the noise of the streets, electoral disputes, the electoral disputes, and therefore respect all those who applied. Now, do not respect indirect election impeachment product without crime of responsibility. that I can not respect, “he said.

Plebiscito
When responding to a question by Senator Vanessa Grazziotin (PCdoB-AM), Dilma again defended the holding of a referendum to consult the public about the anticipation of the presidential elections.

This proposal had already been presented by the president away for about two weeks when she released a letter in which he said support the consultation, case resume office after impeachment. However, Rousseff has not addressed the issue in his opening speech of the session of the second.

“I argue that today an agreement can not be over, but will need to be a pact tissue by the Brazilian population. That it is called to position itself in relation to elections and political reform, because I consider absolutely difficult for all presidents, not just for me but for all to come in the future governance when the country has 35 parties, “Rousseff .

Reviews the ceiling expenses
the President also took away his speech at the session for criticizing economic measures proposed by the incumbent president, Michel Temer. The main Dilma target was creating a ceiling for public spending which, if approved by Congress, will limit the growth of expenditure from one year to the inflation rate in the previous year, for a period of 20 years.

“it’s prevent, for 20 years, children and young people have access to schools; that for 20 years, people can have better health care; that for 20 years, families can dream of home ownership, “he said. Rousseff also criticized the chairman for wanting to put into practice a different economic policy from that proposed by his campaign in the 2014 elections.

On Monday night, the Presidential Palace issued a statement in which states that the government acting president, Michel Temer, will not reduce social, social security and labor rights.

the Secretariat of the Presidency Communication reported that the note is a response to ‘attacks’ of senators and away President to government fear during the impeachment trial session.

Before that, the President of the Supreme Court (STF), Minister Ricardo Lewandowski, asked Dilma she did not make mention of fear government in answers to questions asked by senators. The intervention came after Senator Gleisi Hoffmann (PT-PR), 22th to manifest, asked removed president if you can “continue the important investments for the country” if Congress approves the proposed ceiling of expenditures.

even before Dilma responded, Lewandowski took the floor: “Madam president, I return the floor to your Excellency, and I just ask your Excellency to gird their responses to his government, not the interim government, please.” The President of the Supreme Court, however, did not explain why he made the request to the President away.

Dialogue with Congress
The president asked away “excuses” for lack of dialogue with parliamentarians during his government – appointed with one of the main factors that allowed the advancement of his impeachment trial in Congress. While occupying the presidency, Dilma was often criticized by senators and deputies because of the shortage of audiences granted to parliamentarians.

The apology came after question from Senator Eduardo Amorim (PSC-CE). According to the President, the dialogue is important, but the lack of it can not be grounds for a conviction for a crime committed.

“I think that if missed dialogue, can tell you that, despite that the lack of dialogue can not be alleged as criminal liability under Brazilian law, it may indeed be alleged as a need for a president who has to make to the Congress a systematic and qualified dialogue “, said Dilma.

then he apologized. “Senator [Amorim], you receive my apologies for not having met their expectations for the dialogue. It is something that I have clarity, it is important that it is done. I repeat, is no basis for any liability crime,” he continued .

around 18h, Lewandowski again interrupted the session for dinner. Senators allies away President took the opportunity to record videos with slogans like “Outside, Temer” and “Dilma, the warrior of the Brazilian homeland” in the Senate.

Eduardo Cunha
Dilma again accused the former mayor, deputy away Eduardo Cunha (PMDB-RJ), to work for the impeachment. Rousseff called “retaliation” to Cunha’s decision to accept the application process for opening against it. This happened, he said, because the Plateau and the PT refused to support the filing of the impeachment process against the PMDB, open the Ethics Council of the Chamber.

“Everyone knows that this process of impeachment has been opened by explicit blackmail of former mayor, Eduardo Cunha, as has come to recognize in a press statement of the own whistleblowers. he demanded that Parliament intercede for my party MPs not to vote for the opening of his impeachment process. I never accepted the my life threat or blackmail. If you did not before, would not the president’s condition. “

Cunha released a statement on Monday night to say that removed President” mind “in his testimony to Senate when he says he did blackmail.

“my opening act of impeachment was confirmed by a vote in the special committee of impeachment on the House by 367 votes, and already confirmed in four votes in Federal Senate, “Cunha said in the note.

Fear and the PMDB
Dilma said Michel Temer was chosen as his running mate in the 2010 elections and 2014 for it and its allies believed that “it represented what was best in the PMDB.”

“congressman Michel Temer was chosen because we assumed it was a member of progressive democratic center transformer. So it was chosen. I do not know when this began to change, “he said when replying to Senator questioning Cristovam Buarque (PPS-DF).

About the qualities he saw in Temer, she said she admired the role that the PMDB exercised in democracy occupying a position of “progressive democratic center”.
But then he said that during his second term, part of the party has changed.

“When the democratic center ceases to be progressive and passes to be center-conspirator and coup. This process has a leader. I believe Michel Temer is supporting. The [deputy away] Eduardo Cunha was the leader, I have no doubt that, “he said.

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Teixeira Duarte loses 15 million with BCP and loss reaches 36 million – Mad Money

Teixeira Duarte closed the accounts of the first half with losses of 35.8 million euros, compared with the 24 million achieved gains in the first six months of 2015. The group lost 14.8 million with the BCP between January and June this year.

according to the statement released today by the company, turnover fell 16.7% over the first half to EUR 570 million, with the proceeds to retreat almost in equal measure, to 590 million. Also falling was net debt of Teixeira Duarte, who spent 1.23 billion to 1.15 billion (-6.7%).

The group also noted a significant reduction in the average number workers, in the first six months of this year stood at 11,777, against 13,628 in the same period of 2015. the decrease of 11.8% followed the decline in activity recorded in the first six months of the year, the company explains.

According to the company explains, “for these results strongly contributed two factors”, identifying immediately the exchange rate, “which in June 2016 was negative in the amount of 23,723 thousand euros, while in the same period 2015 had been positive at 19,136 thousand euros. “

As a second factor, he says the construction company, is already recurring loss with the BCP. According to Teixeira Duarte, between January and June the position that bank had a “negative impact, net of deferred taxes in the amount of 14,810 thousand euros impairment on participation in the ‘Banco Comercial Portuguese SA’ registered in the first six months of 2016 “. In quarterly terms, individualizes the company, impairment in BCP had an impact of 8.4 million.

The deterioration of the group’s results is also identified as a result of their exposure “to economic contexts currently more adverse” , referring to countries where Teixeira Duarte is present where almost all of them there were breaks. – Angola, Algeria, Brazil, Spain or Venezuela

Despite the accounts were also financial results the company “in negative 72.3 million euros”, an increase of 54.3 million over the first half of 2015. this figure, and in addition to the impairments in BCP, they are also included exchange losses, items that invalidated improvement achieved by the group in terms of the interest, which fell 17%.

in terms of sectors, Teixeira Duarte fell by 9.7% in the turnover of construction, the most significant, worth 246 2 million until June, with the Concessions and Services to see this indicator to grow 4.4% to 55.7 million. Also in Real Estate, Hospitality and Distribution registered decreases of 11.3%, 32.3% and 5.9%, respectively.

The biggest break of all, however, was the Automotive sector, whose volume business fell 58%, from 108 million in June 2015 to 45 million by June 2016. “in the first six months of the year there was a decrease of 76% of units sold in the light segment and a decrease of 17% in after-sales service “, details.

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Monday, August 29, 2016

Owners against landlords with the status of “social nature” – publico


 
         
                 

                         
                     

                 

 
 

The president of Owners National Association defended on Monday the creation of an income subsidy, which is already provided for in the legislation, rather than the status of “social nature of landlord”.

“what we found is that the only way forward is one that is under the law, which is the creation of the rent subsidy as the one that exists in all European countries. that is what is legislated and ready to put into practice, can not understand why not activate income insurance, “said Antonio Frias Marques Lusa.

Frias Marques reacted to pUBLIC news that Government wants to create the status of” social nature of landlord “through assignment of benefits to owners who rent properties with values ​​limited to middle and lower middle class families.

the intention of the executive was advanced by the Assistant Secretary of State and the Environment, José Mendes, in an interview with Publico this Monday in which points to “a legislative framework encouraging the landlords who goes through things like tax benefits and income insurance.”

according to Antonio Frias Marques, insurance income would be assigned to the tenant and its value would be calculated as the difference between what it could pay, depending on their income, and fair income.

“we are not talking about speculative income, we are talking about an income of 6.7% of the asset value of the tax, which is attributed to the property by finance. Are rents that remain low, “he said.

Frias Antonio Marques stated that the intention of assigning tax benefits to owners is a” misfit idea, “remembering that four years ago this part there are many landlords you are paying more than IMI than they receive income.

“the IMI is paid on the basis of the equity value of the house, which is not in proportion to what the tenant pays. Systematically, we have been filed thousands of complaints to that effect which are rejected for finance. These need to increase its tax revenue but is a flagrant injustice, “he said.

The president of Owners Lisbonense Association estimated that the Government will” kill the rental market “if it continues to maintain that landlords do “social security” and not charge IMI to the assets of political parties.

Speaking to Lusa, the purpose of the Public newspaper article about the creation of “social nature of landlord” and the Correio da Manha daily information on rents remain frozen for five years, Menezes Leitão considered to be concerned an “ideological conception” that will “kill the rental market.”

“it is absurd” considered responsible about the government’s project to allocate tax benefits to landlords who practice more accessible income values ​​for the middle and lower middle classes.

“it is an ideological conception of the ruling party and parties support it and do not realize that this is a business between private and want the landlords to do the role of social security, “said the official, noting that the creation of an income insurance also involves the private will.

Menezes Leitão indicated that in practice the existing tax benefits are not applied, particularly because “the finances put so many obstacles” only “9% of landlords” were able to calculate your municipal property tax (IMI) based in the rents they receive.

About the possibility of revision of the current law that extends the standstill period rents for tenants, particularly financial difficulties, Menezes Leitão considered that the State “is shirking its obligations and pass them to the private “.

the official recalled that the current statute provides that the State assumes, preferably through a grant, the difference between the amount of income tax by the market and the income tenants.

“These prospects will kill the rental market and prevent market flourish,” foresaw the association’s leader, arguing that it is to want to harm those who have property, “but only the other “.

” With rich heritage, the parties should lead by example and not face the properties just as charges. Have risen IMI in early August, they want to extend the freeze and run away from their obligations. (Parties) should start paying the IMI their properties, “he argued, in statements to Lusa.


                     
 
 
                 

             

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Greek GDP grew 0.2% in the second quarter – publico


 
         
                 

                         
                     

                 

 
 

The Greek economy grew by 0.2% in the second quarter 2016 compared to the previous three months, according to provisional data published on Monday by the Greek Institute for Statistics (ELSTAT), which revised downwards its previous estimates .

the initial numbers, the ELSTAT announced on August 12, pointed to GDP growth in Greece of 0.3% in the second quarter compared to the previous three months.

ELSTAT also revised the its annual estimates, adding now that GDP decreased by 0.9% between April and June this year compared to the same months of 2015, a steeper drop than the 0.7% originally planned.

the official statistics authority of Greece changed the data for the first quarter and estimated that the Greek economy has retreated 0.2% in chain and 1% year on year in the first three months of this year (previously had calculated a fall 0.1% and 0.8%, respectively).

the ELSTAT justified this downward revision of all data with the initial estimate, which still did not consider a number of data, both monthly as quarterly.

in 2015, after six years of recession, the country has two quarters of growth before the government decreed on 29 June, capital controls are still in effect. Although both the executive and the creditors have forecast a recession of 1.3% in 2015, the year closed with a zero growth of the economy, thanks to the growth of the first two quarter and also in the fourth quarter.

                     
 
 
                 


             

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US stocks rise after economic data and Fed – Magazine Saturday

Bags US rise after economic data and Fed

US stocks started the session high, after it was revealed that American families increased their consumption , increasing speculation that the economy will be strong enough to accommodate interest rises.

August 29, 2016 • Business

By Sara Antunes – Business Journal

The Dow Jones rises 0.22% to 18,436 11 points and the Nasdaq appreciates 0.14% to 5226.125 pontos.A contribute to the behavior of the markets is the economic indicator released Monday. Household consumption increased by 0.3% in July, which was expected by analysts surveyed by Bloomberg. This rise, which occurs four, was fueled by higher incomes that are driving the purchase of automobiles, revealed the US Department of Commerce this Monday, August 29, quoted by Bloomberg.
This indicator supports the view the Fed, which last week pointed to the possibility of two increases in interest EUA.A chairman of the Federal Reserve (Fed), Janet Yellen said on Friday, August 26, that “the scenario of increased interest rate tightened up in recent months.” Still, the speech in Jackson Hole was a cautious tone, leading investors to believe that it would still be possible that the price of money in the US did not rise since September.
However, minutes after this speech, the vice chairman of the Fed, Stanley Fischer, gave an interview which was more direct pointing to an interest rise since September, adding that this year the price of money can still rise again.
When asked interview with CNBC television station about whether investors could expect an increase in interest rates by the Fed at its meeting on 20 and 21 September, and there was the possibility of two increases this year, Fischer replied, “I think what [Yellen] said today was consistent with the affirmative answer to both your questions, but these are not things that we know until we see the data. “
” we had the long-awaited speech Yellen, “which led to many people believe that interest will “rise in September and December,” he told Bloomberg Otto Waser, head of investment in R & a Group. “It’s the strongest statement that the Fed did recently and investors are waking up to this. It may even be good for the market to pause after the strong gains we had,” he added.
(News in update)


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Construction company Teixeira Duarte passes from profits to losses – TVI24

Until June, the negative results of Teixeira Duarte were fixed at EUR 35.8 million.

According to the company, the accounts “reflect a significant decrease compared to the same period of 2015 despite the improved operating performance of the group companies over the first half of the previous year”, during which achieved a positive net result.

statement, the construction company has two reasons for the poor results.

on the one hand, emphasizes “the variation of the exchange rate differences, which in June 2016 was negative in the amount of 23,723 thousand euros, while in the same period of 2015 were positive at 19,136 thousand euros. “

the company also points out” the negative impact, net of deferred taxes in the amount of 14,810 thousand euros, the impairment loss on participation the Portuguese Commercial Bank recorded in the first six months of 2016 “.

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CP reduces losses to 74.2 million in the first half – publico


 
         
                 

                         
                     

                 

 
 

The CP recorded losses of 74.2 million euros in the first half of this year, a EUR 44.4 million reduction compared to the net loss recorded in the same period last year, the company said on Monday! fair

the report and consolidated interim accounts today sent to the Portuguese Securities Market Commission (CMVM), the CP. – Train Portugal states that for this development, “essentially contributed to improvement financial result, due to the reduction of financial liabilities and charges interest and similar expenses incurred by the company. “

also the reduction of provisions recorded and the growth of traffic revenues supported the improvement in net income in first half of this year.

However, the company states that the results of the first half were penalized by “negative impact” of 2.6 million euros “due to non-adherence of CP special arrangements to deferred tax assets “.

the railway company ended the first half with an increase of 1.2% in the number of passengers having traveled on CP 56,075 people between January and June this year.

As for traffic revenues, the segment recorded a more significant increase in this indicator was the long-distance service, which received 2,850 passengers in the first half of the year, 10.6% more than in the same months of 2015.

CP said that these “followed this positive trend” seen in the number of passengers, “totaling about EUR 110 million, an increase of around five million euros (+ 4.6%) against the [period] homologous. “

with regard to workers, the CP had in June this year 2,646 workers, less 2% than at the end of June 2015, representing a reduction of 62 people in effective.

                     
 
 
                 


             

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Brazil: Dilma Lula agreed with what you say today in the Senate – Jornal de Negócios – Portugal

Dilma Rousseff met on Sunday with Luiz Inacio Lula da Silva and will take the former president to the Senate, where will this Monday, August 29, his defense in the procedure which most likely will lead to its condemnation and definitive removal from the presidency of Brazil. Follow here the speech live.

According writes the newspaper Estado de Sao Paulo, Lula arrived yesterday afternoon at the presidential palace to meet with the president away. The former president was also included in the list of personalities that will accompany Dilma in the Senate.

The testimony is scheduled for 9:00 Brasilia (13:00 in Lisbon). Dilma will have 30 minutes to make an initial exposure time can be extended. Then the senators will have five minutes to ask your questions. The president does not have a limited time for responses. So far, 47 of the 81 senators are written to ask questions.

The Brazilian president was away on May 13, more than 100 days after the first vote in the Senate and is since then the position to be temporarily assumed by their “vice” Michel Temer, in the case of Dilma’s conviction, conclude, from the outset, the mandate until the end of 2018.

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Dilma: impeachment process was born of “blatant misuse of power” – Daily News – Lisbon

Dilma Rousseff claimed to be the subject of an injustice

The President of Brazil with suspended term, Dilma Rousseff said today in the Senate (High parliamentary chamber) that his dismissal process is marked by “blatant misuse of power.”

“This process is marked from beginning to end by a clamorous misuse of powers (. ..) became current state that process is lawful because it respects the legal rites. the way is not enough, there must be reason, “said Rousseff, the assistance in his defense before the Senate.

Dilma Rousseff stressed that there was misuse of powers because the process was started by Eduardo Cunha, then President of the House of Representatives, which accepted the complaint against it after seeing thwarted personal interests.

Another part listed grounds for the misuse of powers would, according to Dilma, the fact that the complaint is based on an opinion of the Court of Audit (TCU), formulated with the prosecutor’s aid Julio Marcelo de Oliveira, who then examined and approved the same document pointing alleged irregularities in the accounts government it.

Julio Marcelo de Oliveira was the main witness for the prosecution, but was eventually heard at trial only as declaring a conflict of interest, since those facts only on the day he presented his testimony were brought to the attention of the President of the Supreme Court, who heads the impeachment process in the Senate

in another point in his speech, Dilma Rousseff claimed to be the subject of an injustice, it did not commit a crime committed -. practice tax maneuvers in order to improve public accounts and signing decrees authorizing not in the budget expenditure – and that “never” renounce the position and that is the target of a coup d’état

“. we are one step closer to achieving a constitutional rupture, a real coup, “he said.

the head of state with suspended mandate also considered that is targeted for impeachment because his government bucked interests political and economic elite of Brazil, adding that this elite had its preferred candidate, Aécio Neves, defeated in the presidential election.

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