Tuesday, January 31, 2017

TAP flies cheap from Vigo that of Porto – Jornal de Negócios – Portugal

Travel in the Portuguese airline TAP in long-haul flights from Vigo is cheaper than doing it from the Port, writes this Tuesday, January 31, the Jornal de Notícias.

The publication fulfills that difference in the tariffs more low, is higher than 100 euros. TAP justifies the prices with the factors as numbers of flights, duration, and market prices and admitted the intention of capturing passengers motivated “solely by price.” But there are cases in which the value exceeds € 600.

The News is a simulated return flights to Boston, New York, Miami, Caracas, Rio de Janeiro and Maputo for the same dates and departure from Porto or Vigo. For the same dates, and always with a stopover in Lisbon, the conclusion remains: out of the Harbor is more expensive.

even so, the publication argues that the prices may lead the Portuguese to live further north in the country to embark in Spain. The TAP does not have data of how many may have already done this option and says that “the probability of this happening is very low”.


Costa: Portugal has accelerated, the IGCP will repay and the banker can take advantage of – Jornal de Negócios – Portugal

In the intervention made this Tuesday at the Santander Totta, António Costa left economic guidelines to the Portuguese. First, he admitted that the growth might have accelerated in the last three months of the year. Then he said that there are measures that allow the reduction of the debt, in anticipation of the new repayments to the International Monetary Fund. And still recalled the banker, with high levels of real estate in the balance sheets, that there are ways to take advantage of this weakness.

‘Portugal is accelerating the pace of growth in the third quarter of last year had the pace high throughout the European Union”, said António Costa, referring to the improvement of 1.6% of gross domestic product for the period between June and September.

In relation to the last three months of the year, the expectation is that Portugal “has not only consolidated, but even accelerated a little bit what were the data of the third quarter”, as he cites the Portuguese.

The path to economic Portuguese was praised by Ana Botin, who referred to the provisional data of unemployment, to 10.2% in 2016, and to the public finances, with the budget deficit not to surpass 2.3% of GDP. In fact, Costa specifically referred to these data in his speech.

the leader of The Executive said that, for the future, there are less limitations than in the past. There was extraordinary operations such as the resolution of the Banif (sold to Santander Totta in an operation in which the public charges can amount to 3 billion euros) and the capitalization of the CGD. Without them, “gross debt would have been reduced”.

As if it will repeat, there is release of resources. In addition, the Coconuts will be returned by the BCP and the guarantee of the BPP will be returned, believes. “[The facts] that will allow us to new anticipations of the payment of the amortization of the debt, including to the IMF,” said the prime minister.

about the specific problems of banking, Coast left a word: “In the banks, when they talk a lot of trash that have accumulated in the field of real estate, there is always value to discover where they often don’t think that existed”. “There is no problem that has no solution,” he said, remembering that it was thus that the building of the Santander Totta, which was inaugurate by the side of Ana Botin, Vieira Monteiro, and Fernando Medina, used a slope that had how to use the presentation of an advertisement for the Zoo.


Unemployment in the Euro Zone in a minimum of seven years. Uk with the second biggest decline – Jornal de Negócios – Portugal

the unemployment rate in The Euro Zone headed back down in December, ending the year at 9.6% which represents the record low since May 2009, and compares with the 9.7 percent recorded in November. Economists had predicted a rise to 9.8%.

according To Eurostat, the number of unemployed fell by 121 thousand in the Euro Zone in the last month of the year. Comparing with December of 2015, the unemployment rate dropped to 9 decimal places and the number of unemployed has decreased 1,256 million.

Descent in Portugal was the second largest in the euro

the lowering of The unemployment rate in the Euro Zone due to the descent recorded in the major economies, with emphasis on Germany, where the unemployment rate went down a tenth, and reached a minimum since the reunification of the country.

the largest economy in The euro has the unemployment rate is the lowest among all the countries of the Euro Area, the Eurostat calculates at 3.9%. In the European Union is the Czech Republic, which has the smaller tax (3,5%).

In the opposite direction is Greece, with the highest rate (23%), followed by Spain (18.4 percent). Even so, Spain was the country in the Euro Zone where the unemployment rate is more decreased compared to December of 2015, when it was 20.7%.

In second place was Portugal, given that the unemployment rate registered in December is two percentage points below that verified in December 2015. The INE announced yesterday that the unemployment rate in Portugal fell to 10.2% in the last month of the last year, which equates to a minimum since March 2009.

Despite the downward trend of the unemployment rate in Portugal, the rate is the fifth highest among the countries of the Euro, only surpassed by the record of Italy (12%), Cyprus (14.3 Percent), Spain (18.4 percent) and Greece (23%).

(News updated at 10:39 with more information)


Brazil closes in 2016 with fiscal deficit and unemployment records – State of Minas

Brazil has closed 2016 with a deficit in the primary of 2.47% of its Gross Domestic Product (GDP), compared to 1,88% in 2015, the worst result since it began the current measurement 15 years ago, according to the Central Bank.

unemployment also reached a record level in 2016, and will continue to grow until the mid of this year, expecting that the reduction of interest rates and other measures, pro-market reverse the trend of recession of the country.

The result of the consolidated public sector by 2016, before the payment of debt interest, was 155,791 billion reais, reflects the deep crisis in the brazilian economy.

however, the balance was below the target set by the government, on the red 163,942 billion reais, thanks to the contribution of extraordinary an operation of money laundering abroad.

In December, the deficit in the primary was 70,737 billion reais, almost twice that of November (39,141 billion).

The deterioration of the last month of the year was caused by the expenses of the central government – the Treasury, Central Bank and Social security -, which registered a deficit of R$ 64,248 billion.

The regional governments and the company state had accumulated a deficit of R$ 6,067 billion and R$ 422 million, respectively.

The Finance ministry projected for this year a deficit of 139 billion reais only in the central government, below the R$ 154,255 billion in 2016.

The improvement of the consolidated result of the past year in relation to the expectations of the government complied in good part to collect additional 24 billion reais of the program of repatriation of assets not declared on the outside, the second explained the minister of Finance, Henrique Meirelles.

The gross debt of Brazil accounted for 69,5% of the Gross Domestic Product by the end of 2016, slightly below the record of November (70,5%), but 4 points above the December 2015 (65,5%).

The main Latin american economy shrank by 3.8% in 2015 and, according to the estimates, would have decreased 3.5% in 2016, which would result in its first period of recession since the 1930s.

in 2017, the Central Bank projected a modest growth of 0.8%, while market players expect a minor expansion, of 0.5%.

The unemployment rate, in turn, rose to 12% in the last quarter of 2016, compared with 11.9% in the previous quarter, a record level since the beginning of the current way of calculation, in 2012.

analysts polled by the agency Gradual Investments wagered, on average, in a maintenance of the rate at 11.9%.

In the fourth quarter of 2015, the unemployment was 9%. Its gets worse, 3%, occurred in the context of the second consecutive year of economic recession in the country.

At the end of 2014, stood at 6.5%, virtually doubling these two years.

In the period October-December of 2016 there were a total of 12.3 million people in search of employment in Brazil, 36% higher (3.3 million people) than in the same period of 2015, said the Brazilian Institute of Geography and Statistics (IBGE).

The government of Michel Temer has launched a series of austerity measures with the intention of recover the trust of investors to revive the economy, but the takeoff if announces slow.

The Central Bank cut the high interest rates adopted to combat inflation, but they inhibit investment and consumption.

interest rates fell from 14,25% in October to 13% in January and the market is expected to fall to 10.9% this year, following the reduction of 10,67% in 2015, and a 6.29% in 2016, closing in 2017 in to 4.70%, according to the market projections.

“But these measures still don’t have effect and the employment is the last variable that experience an improvement,” said Alex Agostini, chief economist at the consulting firm Austin Rating.

This is explained, to the fact that measures tend primarily to improve the productivity, and, consequently, the employed people should work longer before companies can contract.

so, the expert predicted that the unemployment rate will reach 13% in may, before you begin to drop, to close the year at around 12.5 percent.

An improvement of confidence indicators in industry and services have surprised the government this month, but according to Agostini, still it remains to be seen “whether this pleasant surprise is consistent or momentary”.


Almost half a million complaints in the Deco in 2016 – Express

In 2016, about 460 thousand people resorted to the Portuguese Association for Consumer protection. The Deco has anticipated its annual balance sheet, as is usually done usually on the World Consumer Day in march. The main reason is the fact that it is a “balance of continuity”, according to Paulo Fonseca, a spokesman for the association, since the major areas of complaint remain, with telecommunications leading the table again.

The number of requests for assistance was much lower than that recorded in 2015, which was considered by Deco an atypical year, due to the numerous complaints in the sector of Energy and Water. Thus, it is not strange that in 2016 the telecommunications lead again, with 45.515 complaints only in this sector.

Although the past year have brought “a positive law for the consumer, the telecommunications operators continue to attack with strategies and “unfair commercial practices”, and “will always continue to lead the ranking of complaints,” says Paulo Fonseca. The reason for so much discontent is related to the question of the loyalty of the clients, because the carriers opted for offerings of long-term commitment (two years), “which only hurt the consumer.”

The Law of Electronic Communications has changed in the past year, and reinforces, now, the protection of consumers in contracts for the provision of electronic communications services, with a period of loyalty.

However, in 2016 the requests for information and clarification on the part of the senior community there has been an increase over the previous years, for being one of the age groups most affected by a lack of information.

Soon after the telecommunications comes the sector of Energy and Water, which represents 27.708 requests for clarification to the Portuguese Association for Consumer protection, essentially relating to the billing, due to the lack of sending of the same, the recovery of consumption prescribed, or even to double billing.

The Deco is also concerned with the sector of Purchase and Sale provides for an increase of dissatisfaction of the customers, because the trend is toward consumerism online, and there are more and more people to adhere to the shopping on the internet. In this sector, the number of complaints was 27.430 and the Deco is already trying to prevent that the number does not increase too much, looking for a solution to the unaccountability of the marks when there are problems with the purchase.

“In our culture is the face-to-face prevails and it becomes difficult for the consumer to obtain trust through the internet,” says Paulo Fonseca, pointing to the risks in the safety of the consumer when buying through social networks or sites that promote brands, but that does not take responsibility for them.

The association still leaves a question in relation to digital rights, you want to respond in 2017: “personal data is a fundamental right or a currency exchange?” Indeed, there is a growing concern with the personal data, which are increasingly used by companies that are unknown to the creation of a profile, without that this has been agreed with the consumer.


It is cheaper to travel on the TAP from Vigo that of the Port – Diário de Notícias – Lisbon

The difference can vary between 100 and 600 euros for long-haul journeys

The long journeys of the TAP are cheaper from Vigo, in Spain, of that Port, stands today the Journal News, that after several simulations, it concludes that the difference can range from 100 euros, for the lowest fares, up to 600 euros for business class.

The starting point is always the same: travel to Lisbon to catch a another flight in the direction of the final destination and then do the same route in reverse. In the simulations made by the JN at the site of the TAP and carried out by travel agencies, it is almost always lower to start the trip in Vigo than in Porto.

THE JN indicates, for example, that a round trip (10 and 17 June) to Boston, USA, from the Port costs 810 euro, and the same travel from Vigo costs 710. For New York city going to the Port costs 745 euros, but from Vigo already costs 655. For the Rio de Janeiro travel costs 1019 € from the Port and only 888 from Vigo. This is always with a stopover in Lisbon and in affordable budget rates.

THE TAP justified these differences in cm factors as the number of daily flights, the duration of the trip, the market price or the intention of capturing the passengers are exclusively motivated by price, according to JN. The airline also stresses that the flights from Vigo have other financial implications for the passengers, because schedules are not as suited to the links you want. That is, in some cases, departing from Vigo, it is necessary to pass the night in Lisbon to catch the flight to the final destination, which is not the case on flights originating from the Port


Inflation in the Euro Zone triggers, to 1.8% in January – Jornal de Negócios – Portugal

The growth of prices in the Euro Zone accelerated at the beginning of this year. Second, the data revealed this Tuesday, January 31, by Eurostat, inflation in the region of the single currency should have risen to 1.8% in January, after having set at 1.1% in December 2016.

The value was higher than expected by analysts polled by Bloomberg, who anticipated that inflation would increase to 1.5%.

contributing to this increase were mainly energy prices, which have increased by 8.1%, following an increase of 2.6% in the previous month.

Looking for the other main components of inflation, the prices of food, alcohol and tobacco rose by 1.7%, those of services by 1.2% and those of industrial goods non-energy-by 0.5%.

The inflation in the Euro Zone in January hit, so, a value near the 2% target of the European Central Bank (ECB) is putting additional pressure on the monetary authority to revise its policy stimuli of unprecedented, especially on the part of Germany.

Several officers of the largest european economy – where inflation is expected to have increased to 1.9% in January – have appealed to the beginning of the withdrawal of stimulus from the ECB.

“THE ECB will have the difficult task of exiting the monetary policy ultra-expansionist. (…) Would perhaps be correct if the ECB dared to do this output this year,” said the minister German Finance in the mid of this month.

Also Sabine Lautenschlaeger, the element German of the six that make up the Executive Board of the ECB, admitted, last week, “there are all the pre-conditions for a steady increase of inflation”, and that “is optimistic that soon may turn to the question of the withdrawal of stimulus”.

(News updated at 10:29)


New Bank: Fund american promises to keep management team and to involve national investors – the Public.en

The Lone Star, the Bank of Portugal (BdP), has selected to further negotiations with a view to the sale of the New Bank, already did know that, if you purchase a institution, it will keep António Ramalho to the front of the executive committee.

continuity in the New Bank of a Portuguese management headed by António Ramalho is one of the commitments already made by the u.s. fund with the BdP and the Government. But there are others. In addition to agreeing to preserve the integrity of the New Bank, the Lone Star opened the door to the involvement in the transaction of investors of Portuguese origin, which made in the framework of the contacts that are on-going from four in January.

it Was on this date that the Governor of the Bank of Portugal, Carlos Costa, concluded that "the entity best placed to finish with success" buying process "of the shares of the New Bank" was the Lone Star, which invited "to a deepening of the negotiations".

Hours after the supervisor has decided, the Government has clarified that the operation can not foresee state guarantees not have an impact on taxpayers. And so it was that the prime minister António Costa has traced the red lines of the negotiation.

And this is one of the central points of the dialogue that is going between the u.s. investor and the BdP, and that, in all likelihood, will bring in the next few days to Lisbon, Olivier Brahin, responsible for the european operations of Lone Star (that stands out in Portugal as an owner of shopping centers and real estate).

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An initiative that arises in the second round of the jobs that are held between the two representatives of the fund, Kamdiv Nourbakhsh and Benjamin Dickgiesses, and the team of Sergio Monteiro, charge by the BdP put the New Bank in the private sphere. Movements that intensified in the last few days and aimed at introducing improvements to the initial proposal of the Lone Star that consisted of a counter-guarantee from the Portuguese State on about 2000 to 2500 million euros of assets. Which translates into a protection (insurance) against the possible losses (around 25%) of the portfolio of assets problematic of the New Bank (very real estate) and whose value is pointed ranges between 8.500 million and 14 billion. This is a condition that the Lone Star will have to drop if you want to stay with the third-largest Portuguese bank. And it is, also, a critical point, because to dispense with the endorsement of the state the Lone Star (such as any fund) will have to find a solution tha t is convincing the investment committee that the risk that it will accept is bearable. And that the assets in the New Bank is reliable.

in fact, it is known that in the last days the BdP and the New Bank have been inundated by requests for clarification and new information and that they came mainly from the Lone Star. Also, in the background the Apollo [owner of Tranquility], who arrived late to the contest, has been doing a due diligence to the New Database.

As a potential candidate continues the China Minshneg, given how almost deleted for having been unable to provide a proof that you have funds to invest in the New Bank. This may, however, have used the waiting time to re-position. To be successful, you not only have to ensure that you have the money available to pay to the Fund Resolution, the owner of the New Bank. You must especially be able to convince the ECB, given that the european regulator had already raised doubts about the sale of the institution to the vehicle chinese.


Expansion of Alqueva “is in need of 30 MW additional power – Jornal de Negócios – Portugal

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Monday, January 30, 2017

Costa says Portugal has to surf the wave of the digital revolution – RTP

participated in the program presentation Industry 4.0 – the Digital Economy, António Costa said that the so-called digital revolution “is the first industrial revolution in Portugal did not part on disadvantage”.

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Regulator of aviation does not approve increase of fees at the airports – Diário de Notícias – Lisbon

Prices set in 2016, they will keep

The National Authority of Civil Aviation (ANAC) has not approved, provisionally, the entry into force of airport charges set by the ANA – Airports of Portugal, for this year, continuing to be applied to the prices set in 2016.

he spoke to the Lusa source of the regulator, the decision occurs because the FAA found, in the follow-up of complaints of the airlines, “they are not the necessary conditions” to proceed with the tariff increase, and requested more information to ANA.

in This sense, the authority is awaiting additional information and, when you receive them, take a final decision – which can lead to the lead to or approval of the new airport tariffs.

Until the issuance of a final decision by the regulator, the ANA “will apply in the airports of the network, the amounts of the fees subject to economic regulation adopted and in force from January 2016,” reads the page of the company that manages the Portuguese airports.

The company, led by Ponce de León, who since the beginning of 2013 is in the hands of the French group Vinci, has proposed, in November, the increase in airport fees at 22 cents per passenger in the airport of Lisbon this year, at 15 cents at Faro airport, at 11 cents at the Port and at 10 cents in the Azores, leaving unchanged the rates at the airports in Madeira and in the Terminal Civil de Beja.

The variation of the set of rates regulated ANA is reflected in an average increase of 1,69% in 2017, according to the company.

The climb was contested by the Association of Airlines in Portugal (RENA), which found the increase unacceptable and advocated an intervention by “more active” of the regulator and the Government.

“Are increases unjustified and unfair. Doesn’t make any sense. If there is a rise in the number of passengers at airports, which by itself already generates revenue for the ANA, is a contrassenso: increase the passenger and increase the rates, when it should be the reverse,” said Paul Geisler, president of the REINDEER.


CMVM prohibits “short selling” of CTT – Jornal de Negócios – Portugal

The Commission for the Securities Market (CMVM) banned this Monday the short selling of shares of CTT during the session tomorrow, Tuesday, January 31.

The prohibition decreed by the entity led by Gabriela Figueiredo Dias (in the photo) comes to the strong fall recorded by the shares in the session today, when the bonds sank 13,99% in the biggest drop ever, renewing a record low of 5,171 euros.

In a statement, the authority of markets, justify the extent with the “significant decrease” in the price of papers of the company, in the case of more than 10%, and taking into account that “the fluctuation of the price of the shares cannot exclude the occurrence of a phenomenon of speculation with a negative impact.”

The “short-selling” is a practice that consists in short-selling of shares of a particular entity (obtained through a loan to the effect), looking for the cause of his fall, and then buy more cheap, profiting from the difference.

The fall of today’s session followed the downward revision by the company mail, on Friday last, the prospects for EBITDA for the year 2016, keeping nevertheless the intention to distribute the dividend already compromised during the year of 2017.

Later, JPMorgan cut in almost a third the price target assigned to the CTT and reduced the recommendation from “overweight” to “underweight,” while the BPI reduced the target price of 7 for 6,80 euros, maintaining the recommendation to “neutral” and CaixaBI considers that there has been a “negative development for the CTT,” not stirring however in the evaluation.


A decrease of 14% in the actions of the CTT leads the SECURITIES market commission to prohibit short sales – the Public.en

On the straight end of the year, the business of MARRIOTT fell more than expected.

The actions of the CTT completed the session for this Monday to lose 13,99%, a fall that led to the Commission of the Securities Market (CMVM) to prohibit short sales, since, usually, these operations exacerbate the fall of the securities.

The violent fall of the CTT on the Lisbon Stock exchange takes place after the company has communicated to the market last Friday, a break in your main activity, the mail, in the fourth quarter of the year, which implies "a reduction of between 4% and 5% in the operating income 2016″.

Several investment houses have reduced their assessments and, after falling 11% on Friday, the title continued to depreciate, reaching the lowest value ever: 5,17 euros.

Despite the drop in the results, the administration is committed to maintaining the dividend of 0.48 cents per share, but this was not enough to brake the bad news of the breaking of the main business of the company.

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As happens in the case of devaluation above 10%, and considering that "the fluctuation of the price of the shares cannot exclude the occurrence of a phenomenon of speculation with negative impact", the CMVM determined the prohibition of short sales of the shares of CTT, on Tuesday.

These sales, also known as short sales or short selling, involves the sale of securities that the investor has requested to borrow. The operation is done on the expectation of repurchase the same securities (to deliver to the lender) at a lower price, thereby earning the difference.

Dragged by the devaluation of the titles of the CTT and the BCP (4,63%), and also by the family (EDP 1.6 percent, the PSI-20 ended the devalue 2,79%, the biggest drop of the year.


Unemployment rate provisional of December is positive, says Government News Journal

The Secretary of State for Employment, Miguel Cabrita, said today that the unemployment rate provisional of December on a 10.2% is a positive datum, manifesting optimistic that the goals set by the Government for this indicator will be achieved.

“We are optimistic that we may reach the goal that was traced and that you can even see the download,” said the ruling, noting, however, that “more important than the goals is the reality”.

Miguel Cabrita spoke after the National Institute of Statistics (INE) kept the unemployment rate from November on 10,5% and have advanced a provisional estimate of 10.2% for December.

In the State Budget for 2017, the Government estimated that the unemployment rate is set to 11.2% in 2016, and that it goes down to 10.4% this year.

To Miguel Cabrita, the numbers today released by the INE confirm that that has been the development of the employment market throughout the year in Portugal, with successive drops in the unemployment rate.

“Let’s finish the year with about 100 thousand jobs in net terms and with less 100 thousand unemployed, according to the estimates of the INE. The data for December are provisional, but November is already definitive and points to a 4.First quarter that is also to be very positive,” said the secretary of State.

“Is the unemployment rate lowest since April 2009, which is a given consistent with the data that we already have and that has to do with unemployment, that has to do with the job centres, which came down below 500 thousand, which has also not happened since 2009,” he added.

According to Miguel Cabrita, the evolution of the unemployment rate is also consistent with other data that the Government has been following in terms of consumer confidence, business confidence and job creation throughout the year.

“The Portuguese economy is failing to create jobs and this is the engine more important to be able to face the future and the next year with confidence that we will continue to have good results in this field,” said the ruler, not to mention the fact that Portugal has an unemployment rate of more than 10%.

“we Have serious problems still to be solved, such as long-term unemployment, youth unemployment”, said the secretary of State indicating that, in the case of young people, there was a decrease in “significant”, given that became of be above 30% to about 26%, but is still a high rate where it is important that there is progress.

THE INE will disclose Employment statistics relating to the fourth quarter in the day 08 February.


Unemployment at lowest since 2009 – the Journal News

The unemployment rate stood at 10,2% in December, according to the provisional estimate released on Monday by the National Statistics Institute.

THE INE reveals that the unemployment in November was 10.5 percent, the lowest since April 2009.

The provisional estimate of unemployed population in December was 519,5 thousand persons and the employed population was 4,587 million people.

In November of 2015, the unemployment rate stood at 10,5%, down 0.1 percentage points from the previous month (by 0.4 percentage points over the three months before) and a value equal to the provisional estimate released a month ago.

“it Is also the lowest value observed since April 2009 (10.3% increase),” said the INE.

The estimate definitive of the unemployed population in November was 537,7 thousand persons, having decreased by 1.3% compared to the previous month (less than 7.2 thousand persons), while the employed population was estimated at 4,581 million people, virtually unchanged from the previous month.

In December 2015, the rate of unemployment was 12.2%.

The unemployment rate of women (10,3%) exceeded that of men (10,0%) at 0.3 percentage points, the first having fallen by 0.2 percentage points, and the second 0.5 percentage points.

The rate of youth unemployment stood at 26.4% and down 0.8 percentage points from the previous month, while that of adults was 8.9% and decreased by 0.3 percentage points compared to the month of November.

According to the INE, the decrease in the monthly unemployment rate was accompanied by a decrease in both of the unemployed population (1,2%, equivalent to 6.3 thousand people), as the employed population (0.2%, to 9,1 thousand persons).

For the reduction year-on-year contributed to the decrease of the unemployed population (up 14.3% or 90,7 thousand people) and the increase of the employed population (1.8%, corresponding to 82.7 thousand people).


The Aethel Partners is interested in the New Bank – Express

There is one more name in the back of the New Bank, in addition to the investment funds north-american Lone Star, and Apollo/Centerbridge. The Aethel Partners, a british company that bought the Banco Efisa, wants to enter the race for the purchase of the institution, advances the "Journal of Business" this Monday.

According to the newspaper, the company manager, the Portuguese Ricardo Santos Silva asked for a meeting with Sérgio Monteiro, with the intention of expressing your interest in the New Bank, but the head of the Bank of Portugal responded by saying that this may only participate in the process if you combine one of the u.s. funds that are negotiating the purchase of the institution.

the interest of The Aethel Partners by the New Bank was formalized Sérgio Monteiro through a letter dated January 27, signed by Ricardo Santos Silva and Aba Schubert, leaders of the institution.

In the letter, the "Business" had access, the two members to "express its interest in the acquisition of the bank along with a number of investors", but these do not appear identified.

in addition To the expression of interest, in early December, the Aethel Partners created a society, the Aethel Limited, solely with the purpose of come to acquire the New Bank account in the morning.


CTT sink down more than 11% to new record low – Jornal de Negócios – Portugal

The CTT are going down 11,14% to 5,342 euros, having already traded in the 5,318 euros this Monday, January 30. This is the lowest value since the shares of the company led by Francisco Lacerda traded on the stock exchange.

To justify the descent pronounced of the securities will be the revision of the estimates disclosed by the company last Friday. The CTT estimate that a reduction of 4.2% of the mail in the fourth quarter implies a reduction of between “4 and 5% in the operating income 2016,” according to a statement sent to the comissão do mercado de Valores Mobiliários (CMVM).

The previous forecasts pointed to a decline in the mail close to 3%, but the holidays that occurred at the end of the year meant that the fall was higher. On the other hand, the “initiatives for revenue growth”, which would have a “limited impact”, will not have any impact on income in 2016.

In the last communication on the estimates of the company for 2016, the data suggest that the target EBITDA is drawn would be “difficult to achieve”, however the “the strong performance in the third quarter” was a “solid basis” for the second half of the year. However, the data from the last quarter led to a deterioration of this perspective. And the company anticipates now a drop of 4% to 7% in recurring EBITDA in the year 2016 (excluding Bank CTT),” adds the same source.

“Although this update, the administration reaffirms that it may propose a minimum dividend of 0.48 euros per share for 2016, payable in 2017″, the statement said. This value corresponds to a growth of 2.1% compared to 2015.

These reviews have generated reactions from analysts. JPMorgan cut the rating of the CTT in more than 30%, or nearly 3,0 euros, with investment bank to establish a target price of 6,05 euros. The recommendation has also been reduced to “underweight”.

Already analysts CaixaBI emphasise that this is “a negative development for the CTT. In fact, the changes in question indicate a lower performance than previously expected for the year 2016, with implications at the level of profitability. In addition, we remind you that this is the second revision made by CTT to its 'guidance' to start for this year, after the company announced a previous review in August 2016 (in the context of the presentation of the results of the second quarter)”.

“This is, obviously, negative, and the evolution of mail volumes in the second half was especially disappointing”, which, along with less registered mail “has led to a drop in revenues of mail, highlights the Haitong.

“After this 'profit warning' we doubt that investors will continue to give the benefit of doubt to the GUEST room,” says the analyst Nuno Estácio, Haitong. “We need to revise our numbers and our estimate of EBITDA can drop by about 6% to 7%”, after incorporating the disclosed data.

The analyst is that it considers that the CTT continue to negotiate without being in the “multi-expensive”, and even though he admits that “there are no major reasons to change the evaluation [of CTT] in the short-term,” notes that the “shares have been weak in recent months and, therefore, we believe that these bad news are already partially embedded” in the value of the shares.

The Haitong decided to put the action “under review” to reflect in its assessment the new data.

(News updated at 9:21 with more reactions)


Government launches this Monday 60 measures for the Industry 4.0 – the Observer

The minister of Economy, today announces a set of 60 measures of the initiative "Industry 4.0 – the Digital Economy", which will involve 50 thousand companies and provides more than two billion euros of investment in the coming years. "We present 60 measures that were worked with a group of companies and entrepreneurs that have joined us, with COTEC and with Deloitte," he explained to Lusa, the minister of Economy, Manuel Caldeira Cabral.

According to the ruling, these measures include training and capacity building of human resources, technology cooperation, adaptation, legal and regulatory, "measures of broad spectrum that what they want is to make that there is an acceleration of the processes of digitization of the industry." The goal is that "Portugal comes to Industry 4.0, this revolution that is already happening, that come in the forefront and not that it arrive as it came in other industrial revolutions, delayed, and you miss this train," said Manuel Caldeira Cabral.

"These measures will include, for example, in the area of training, 20 thousand people offers training of digital skills, will to mobilize the structural funds dedicated to Industry 4.0 in 400 million [euros], they will involve 50 thousand companies on the measures included in the national strategy of digitisation of the economy," said the ruler.

"In total, obviously a big part of this investment will be made by the companies, by industry, by the collaboration of companies of industrial sectors and 'startups' [startup companies] digital, what is expected is that in coming years there will be over 2,000 million [euro] investment in Portugal in innovation directed to the scanning area of the industry, scanning of the activities," he added.

The presentation of the 60 measures of "Industry 4.0 – the Digital Economy" will take place in Leiria and it will count with the presence of the prime minister, António Costa, minister of the Economy, and of the secretary of State for Industry, John Vasconcelos. The event will be signed the protocol of cooperation between the Government and the COTEC Portugal.


Sunday, January 29, 2017

Believe it or not, this sculpture is the next A-Class-Sedan – AutoPortal

it Is a sculpture, but the "Aesthetic" Mercedes-Benz is much more than that: anticipates the language of style that will inspire the next generation of A-Class and B-Class, planned for 2018.

Will be eight models in the next three years will arise whose style will be inspired by this sculpture "Aesthetics". It will be the case of the new A-Class and B-Class, but also of the CLA, the CLA Shooting Brake, GLA, in addition to a Class of four doors (more conventional than the CLA) and an SUV of the B-Class, the GLB.

The goal, according to Mercedes-Benz, passes through the maximum simplification of the surfaces, with the elimination of many of the creases that have been used to give more strength to the visual side of the coachwork.

"The shape and the volume are what are left when the creases and lines are reduced to a minimum. We had the courage to apply this purism. And in combination with a drawing surface of the most sensual, the next generation of the class compact has the potential to establish a new era in car design", said Gorden Wagener, responsible for design at Mercedes.

This language stylistic, defined as "pure sexy", passes by a new grille with vertical bars, remember the one used in the AMG GT-R, with the creases and lines limited to the bonnet. The side, in its turn, is characterized by a single line that runs across the whole car.

"Aesthetics" is part of a series of sculptures that anticipate the future stylistic models of Mercedes-Benz and started in 2010 with the Aesthetics No. 1. In 2011, he was shown the Aesthetics No. 2 and the Aesthetics 125, and in 2012 the Aesthetics S, which anticipated the current Class S.



Marques Mendes: Lone Star hereby waive and release any warranty of State to stay with the New Bank – Jornal de Negócios – Portugal

Luís Marques Mendes says that the americans of the Lone Star are willing to give up the requirement of the guarantee of the State that had put in the proposal for the purchase of the New Bank.

“it is said [by the americans of the Lone Star] is available for negotiations drops the requirement of guarantee of the State. If so, is it really a victory for the Government,” said Marques Mendes this Sunday, January 29, in your the space of opinion weekly in the SIC, that the Business publishes entirely online and in your edition of the printed on Monday.

The commentator added that u.s. fund Lone Star is committed to buy the New Bank, which is evident in the fact that if they find the “invest in improving your image” and you already admit “to have some national partners”.

The public endorsement claimed by the Lone Star had purpose to cover the risk associated with some assets of the New Bank, though the u.s. fund if you propose to split the Resolution Fund revenues that could be obtained in the future with this heritage.

When dropping this requirement, the Lone Star you may want to just for you, the income future of the recovery of receivables considered recovery very difficult, as the Business moved forward to January 9.

at This moment there are two candidates for the purchase of the New Bank, both north-american, the Lone Star and a consortium Apollo/Centerbridge. By the way were the chinese of the Misheng, for allegedly not having been able to submitted financial guarantees to support its proposed purchase.

According to the Ministry of Finance, the process of sale of the New Bank moves forward with “enough intensity”.


Isabel Jonet: Resumes “have yet to reach the populations with the lowest incomes” – Jornal de Negócios – Portugal


The british dominate the market in residential tourism in Portugal – business Newspaper (press release)

the Axis constituted by the municipalities of Albufeira and Loulé is the largest market with concentration of the supply of residential tourism. The data presented Thursday by the Confidential real Estate indicate high dispersion of the origin of the buyers.

The main market of residential tourism in Portugal has attracted buyers from almost two dozen countries between the beginning of 2015 and the first half of 2016, according to the preliminary results of the SIR-Residential Tourism announced this Thursday during the National Conference of Residential Tourism and Golf.

According to data from the report of the SIR, the buyers of dwellings for tourist on the axis Albufeira-Loulé are of 18 nationalities, this being the axis of the market with the greatest concentration of the tourism offer residential, about 39%.

Uk buyers, in particular the irish and british continue to dominate the market, with 64% of purchases to foreigners, and an average amount of investment of 1.78 million euros per acquisition. The following are buyers of chinese origin, with 10% of sales and an average investment of 778,9 billion euros. In the northern countries of Europe, France stands out with an average investment of 1.40 million euros and 13% in sales.

"in A sector with unique characteristics, be oriented to the touristic use and designed for the attraction of international investment, it was crucial to an analysis of the statistics themselves, and several of that research for the housing market the traditional. It is a decisive way of promoting the trust of investors", explained the director of the Confidential real Estate, Ricardo Guimarães.

THE SIR-Tourism is a system of statistical data on the activity of purchase and sale of real estate for residential tourism, the development by the Confidential real Estate in partnership with the APR-Portuguese Association. The SIR has the support of Turismo de Portugal.


The profits of the BPI Group increase by almost 33% to 313 million euros – the Journal News

The BPI Group obtained a profit of 313,2 million euros in 2016, more of 32.5% than in 2015, announced the institution led by Fernando Ulrich.

contributed To these results the activity of the international 166.3 million euros, up 16% compared to the previous year, primarily as a result of the operation in angola, where the BPI had in 2016 the majority of the capital of Banco de Fomento de Angola (BFA).

However, already in January, the participation of the BPI in the BFA was reduced to 48.1%, with the operator, angola’s Unitel now the majority of the african bank.

Already the activity in Portugal, gave a net profit to the BIS 147 million last year, an increase of 58% year-on-year.

profits in 2016 are the biggest since 2007, when the bank earned 355 million euros positive.

by Analyzing the profit and loss account, the past year, the financial margin consolidated has increased by 14.4% in relation to 2015, to 407,4 million euros, the banking product to advance by 7.5%, to 716.6 million euros.

For expenses, the cost structure consolidated income statement were practically stabilized in 497,9 million euros, with personnel costs up by 1.9%, to 308 million euros.

However, it must be noted that the values relative to 2015, based on which the comparison is carried out with 2016, values will be “proforma”, in that the operation of the Banco de Fomento de Angola (by the BPI have left of control) shall already be represented in the caption “discontinued operations”, being so different from the values reported at the end of the year 2015.

Looking only to the activity of BPI in Portugal, the financial margin grew by 14.3% to euro 406 million, and net commissions rose by 1.5%, for 259,7 million, which contributed to the banking product to increase by 7.4%, to 715,4 million euros.

Already the deposits of customers rose by 5%, to 19,8 billion euros, and the credit was almost equal, in the 22.7 billion euros.

The bank, led by Artur Santos Silva Fernando Ulrich announced today that the ROE (Return on Equity), which evaluates the profitability of the own capital, was 13.4% in 2016.

finally, the BPI closed 2016 with a capital ratio ‘common equity tier 1′ of 11.4% with the criteria of the transition, and 11.1% with the rules completely executed,


Commands. The army wants access to the history clinical of recruits – the Observer

The Army wants to spend to have access to the clinical processes of the military who will enroll in future courses Commands. The Technical Inspection Extraordinary instituted in the wake of the death of the recruits of the 127 course experienced failures in the access to clinical data of the place to receive instruction.

The inspection, refers to the Army in a press release, led to the conclusion that that branch "does not have a repository of clinical information, a single, centralized, and across available to units of existing Health". In addition, the Clinical Information System (SIC-E) "does not allow you to have access to the Platform of Health Data from the National Health Service, and therefore it is not possible to know the medical history of the citizen, prior to his entry in the ranks".

The Army will thus propose to the General staff of the Armed Forces the implementation of some measures. In particular:

  • to Ensure access to information contained in the Evidence Classification and Selection of candidates through the System of Support for evidence Classification, and Selection (SIAPCS);
  • Make the extension of the Information System of the Clinical Hospital of the Armed Forces (HFAR) of the Rules of procedure of Command and to the Health Center of Coimbra, ensuring access to clinical information of the military;
  • to Ensure training in the use of the above-mentioned systems, the military Health Service of the units referred to above;
  • Determine the presentation by the applicants of a clinical report issued by your family doctor or by a unit of primary care and the NHS, to access the medical history of the applicants available on the National Health Service.

In the long-term, the Army will also propose the "integration of the health units of the Army in the Information System of the Clinical Hospital of the Armed Forces", the "access to health data of candidates to the ticket by way of access to the Platform of Health Data" and "condition of sharing of clinical information military with entities outside the Army and to the Armed Forces, on the basis of reciprocity".

The measures come as a response from the one branch to the deaths of Hugo Abreu and Dylan Araújo da Silva, in September of last year. The two military officers were recruits of the 127 course of Prompt, and died of a heat stroke.

Also this week, the weekly Espresso and the Daily News have moved the information that was proposed by the heads of the Army, the sanctions, the three officers course (among which the director himself of course) related to the two deaths. Sergeant roberts and lieutenant-colonel Maia (director) will have been convicted (with a penalty still subject to appeal) to 10 days of "prohibition of output". The captain-doctor Domingues, who had followed the course, was the target of a proposed "inactivity", being suspended and forced to remain in the barracks.

aware of this process, it runs a process in the Department of Investigation and Penal Action (DIAP) in which they were made defendants nine military.