Government ensures that the deficit target will be fulfilled without being … – Reuters

Government ensures that the deficit target will be fulfilled without being … – Reuters

                 

                         
                     

                         

                 

 
                         

The deficit target this year was revised from 4% to 4.8%, but the government ensures that everything is going according to plan: the cause for the slippage is only in extraordinary expenses that troika does not think so it will not be necessary to implement further austerity measures.

                     

                         The new figures for the estimated deficit in 2014 is presented by the Government and are included in the report on the excessive deficit procedure of the National Statistics Institute (INE) sent this Tuesday to Brussels.

Looking at the value of the deficit as a percentage of Gross Domestic Product (GDP), the increase in the deficit is all justified by capital injections in the Carris and STCP and forgiveness of a loan in connection with the sale of BPN Crédito. These operations contribute to an increase of 0.78 percentage points of GDP (€ 1289 million) to 4.8%, according to the report published.

For the rest, the government did not change the estimate. And that is what matters to the troika, said on Tuesday at a press conference the Secretary of State for the Budget. “They are extraordinary nature of operations and are not counted as part of the compliance assessment of the adjustment program” said Helder Reis. That is, the European Commission and other entities troika will not take account of these extraordinary expenses when they are to supervise the conduct of fiscal policy in Portugal.

So, said the government official, “our plan more steps are necessary”, or to correct the nominal deficit now forecast at 4.8%, or to correct a deficit even higher that may arise because of other extraordinary operations.

When was presented the amending budget, the minister herself has put the possibility of having to add to the deficit of 4% predicted 5 more 9 percentage points, for a number of extraordinary expenses that the Executive would have to answer. This calculation were included in addition to the 0.8 points now planned because of Carris, STCP and BPN Crédito also the capital injection that the resolution fund did in the New Bank eao financial restructuring process in CP.

There were even included eventual impacts of capital injection made by the Resolution Fund in the New Bank – and that can amount to a value of up to EUR 4900 million (2.8% of GDP) – because the statistics authorities “have not yet decided “what model of accounting operation, said Secretary of State. The impact may end up not exist, only be partial or be felt in its entirety, took over.

Regarding capital injection in CP, which could contribute to an increased deficit of over 2.2 percentage points the methodological changes now announced by INE eventually avoid this outcome. This is because the CP is now included in the universe of Public Administrations. It is true that their operating losses begin to tell the public deficit and its debt also account for public debt, but the injections as held this year cease to be registered because it is a transaction between two entities belonging to the Public Administration.

Thus, the maximum that the deficit could reach (assuming the government controls the evolution of the rest of the expenditure and revenue) is now not nearly 10%, but about 7.6%.

In a press conference, Secretary of State further explained that, according to Government estimates, the methodological changes brought about by the introduction of new rules in the European System of Accounts eventually have a very small impact on both the deficit and the debt.

The reclassification of various entities in the universe of Public Administrations will mean an increase of 0.1 percentage points in the deficit in 2014 Another negative impact, also 0 1 points, arises from the fact that if they fail to record the interest of operations with swaps . The failure to consider the transfer of the fund health CTT (extraordinary income provided for in OE) also causes a worsening of 0.1 points in the deficit.

On the other hand, changes in the rules for the registration of transfers pension funds cause a reduction in the deficit forecast by 0.2 percentage points.

                     
 
                     
                 

                     

Afonso Camões abandons post of Chairman of the Board of … – iOnline

Afonso Camões abandons post of Chairman of the Board of … – iOnline

The Chairman of the Board of Directors of Lusa, Afonso Camões, announced today in a letter to employees, who resigned the post he has held since March 2009

“Workers of Lusa want to express my deep appreciation for the way we did together, “said Afonso Camões, who is administrator of Lusa since September 2005 and Chairman of the Board of Directors for five years.

Without revealing the reasons that lead him to leave the agency, Camões highlights what, according to him, was able to achieve with all workers Lusa: “good services”, “good accounts” without ever losing view the “sense of the public interest, contractual obligations with the State” and with customers.

Afonso Camões also recalled the notice issued to shareholders in the last general meeting of the company: “It is now clear that the Lusa is sustainable, but the state is not paying the actual cost of services provided by the Agency “.

“It was not the financial imbalance caused by factors external to the current management”, our budget compliance and positive operating results have already allowed us to return to profit – even this year, “he added.

“Together, the agency modernized and deepened in exemplary fashion, the transition of our services for the media and for all platforms, which, incidentally, earned honorable in the European Prize for Innovation and Excellence” wrote Afonso Camões.

Before reaching the Lusa in 2005, Afonso Camões was managing director at Controlinveste Media, with editorial responsibilities in the area and group management functions in companies of the Journal of Fundão, eastern Azorean ( Açormédia) and Daily News / Wood (EDN), between August 2005 and April 2009, a period which also assumed a vice-presidency of the Portuguese Press Association.

As a journalist began to collaborate in the journal Fundão and Reconquista and was founder of the “Praxis, journal of the Faculty of Economics of Porto (1976-78).

obtained the professional title of journalist in O Primeiro de Janeiro (1979) and it was a permanent employee of The Journal, between 1982 and 1985 was part of the founding team of the Weekly, as head of the delegation of Porto and later was editor of the Express, with responsibility for the creation and coordination of Network Express regional information.

Minimum wage increases to 505 euros from Wednesday – Reuters

Minimum wage increases to 505 euros from Wednesday – Reuters

                 

                         
                     

                         

                 

 
                         

The ordinance that increases the national minimum wage (NMW) from 485 to 505 euros has been published in Gazette and shall enter into force on Wednesday. The decision will cover more than 350 000 workers in the private sector, according to figures from the Government, receive SMN, and which add 20 000 civil servants (numbers of unions).

                     

                         Unlike what happened in the past, this increase lasts for 15 months, as was established in the agreement signed by the Government, employers and UGT. “This ordinance updates the value of the guaranteed for the period between 1 October 2014 and 31 December 2015 minimum monthly income,” the decree 144/2014.

In the preamble of the diploma The Government points out that besides the importance of combining update of SMN with the evolution of labor productivity, the decision took into account the relevance of other factors, including “the evolution of the economy, the situation of the labor market and the cost of life. “

The future evolution of the minimum wage, says the executive,” without prejudice to other general principles that must be present in the update of the value process, (…) should be your guiding principle in evolution of labor productivity. “

The SMN was frozen since 2011, but with the departure of troika , the Government initiated a negotiation with the social partners with a view to increase. Although the talks were begun in a working group established for this purpose within the Standing Committee for Social Dialogue (CPCS), the agreement was signed on 24 September, following several bilateral meetings (without the presence of the CGTP). To be considered a consultation agreement will be returning to the full CPCS, something that should happen on October 6.

The increase in SMN was offset relief from burdens on businesses that employ workers to receive at minimum. The measure consists of a diploma already approved by the Cabinet and that will only come into force in November.

A single social tax (TSU) low of 23.75% to 23%, but support only covers workers hired before the end of May and that between January and August have received, at least once, the minimum wage. With this measure, the budget of the Social Security supports 85% of the increase in SMN.

The European Commission says it is waiting for the details to decide on the increase, as well as the International Monetary Fund.

 
                     
                 

Unemployment in Portugal stabilizes at 14% in August – Business Journal – Portugal

Unemployment in Portugal stabilizes at 14% in August – Business Journal – Portugal

Eurostat estimates show that it is the fifth highest rate in the 28 countries considered. On a monthly basis the rate stabilized at 14%. Already, year on year, Portugal was the second country with a more pronounced rate of decline in the European Union.

The unemployment rate in Portugal stood at 14% in August, which was identical to the previous month, Eurostat estimates reveal, disclosed this Tuesday, September 30th.

Face the same period, Portugal was the second country where the unemployment rate more declined since a year ago was 16.1% in. At that time the Eurostat recorded 836 000 unemployed while now counts 725 000.

Still, the country remains the fifth with the highest unemployment rate, a list which is led by Greece (27% June) and Spain (24.4%).

The same relative position is occupied in the case of youth unemployment rate, relative to those with less than 25 years. Eurostat gives an account of 124 000 unemployed youth in Portugal, Numma rate of 35.6%, which fell one and a half over the last year.

Eurostat estimates are based on data released by the job centers and possible projections from the rate of INE.

Unemployment falls in 22 countries

In the Euro area, the unemployment rate adjusted for seasonal factors was 11.5% in August, which also represents a stagnation from the previous month and a decline YoY.

Since the European Union as a whole reached a rate of 10.1%, the lowest since February 2012.

The unemployment rate fell in twenty-two Member States, increased four and stabilized in both countries.

Austria (4.7%) and Germany (4.9%) have the lowest rates of unemployment.

Gas and electricity prices unchanged in the next quarter – Business Journal – Portugal

Gas and electricity prices unchanged in the next quarter – Business Journal – Portugal

The Regulatory Authority for Energy Services (ERSE) announced that the transitional rates of sales to final customers of electricity and natural gas for the next quarter, unchanged.

“The assessment of the conditions of the electricity market, it is justified not to change the transitional tariffs charged to final customers into force for all supplies of electricity,” says ERSE in a statement.

Regarding natural gas, “supply conditions in international markets justify, likewise, does not change the transitional rates in effect for all supplies of natural gas,” says the report of the regulatory authority.

So, the prices of the transitional tariffs charged to final customers for supplies of electricity and natural gas will not undergo any change in the next quarter.

It will be recalled that under the legislation of the sector electric and natural gas, ERSE must on a quarterly basis to assess the suitability of the transitional tariffs charged to final customers operating conditions of electric power and natural gas markets.

ERSE also announced that it offers, from this Tuesday on its official website (www.erse.pt), two new versions of the simulators of electricity and natural gas in the deregulated market to simplify the comparability of offers.

Estimated deficit reported by INE exceeds the target of the Government – Expresso

Estimated deficit reported by INE exceeds the target of the Government – Expresso

<- St_tag_p begin ->

The National Institute of Statistics (INE) sent to Brussels a deficit of 4.8% of GDP this year, according to the report sent to Brussels and announced this Tuesday. It is a value eight tenths above advanced by the Government in amending budget, since it included the assumption of debt by the State of Carris and STCP and also impairments in Parvalorem (ex-BPN).

<- end st_tag_p ->

This value has been calculated according to the new methodology of the national accounts ESA 2010, which entered this year in force and introduces several changes in the calculation of GDP and fiscal balances. In practice, though sent by INE, this value is an estimate of the deficit the Government, in the same way that the projections of public debt are the responsibility of the Bank of Portugal. The data will be appreciated by Eurostat, the European statistics office, which has a period of three weeks to publish the results.

<- end st_tag_p ->

When presented Amending the end of August, the government kept the original deficit target of 4% although it underscore once, that estimate had not been included in some operations. Since then the assumption of debt of transport companies Carris and STCP an amount of EUR 1 192 million (0.7% of GDP) and the assumption of losses on loans BPN Crédito, now held by the public entity Parvalorem (of around 0, 1% of GDP).

<- end st_tag_p ->

Now, a month later, the data sent to the INE for later reporting to Brussels already points to a higher value where these transactions are treated.

<- end st_tag_p ->

Carris and STCP remain outside perimeter of the budget, even with the new methodology, and that liabilities assumed are recorded in the deficit this year. Already a CP, which becomes part of the budget perimeter, will aggravate the debt – so apportioned among the several years – from 2010 but does not affect the deficit.

<- end st_tag_p -> The other operation that, for now, remains out of the accounts is the intervention on BES which, ultimately, can lead to the worsening of the deficit of 4900 million euros if it is considered a capital transfer. In this scenario, whose final decision will be to Eurostat, the deficit would reach 7.6%. <- St_tag_p begin ->

In any case, whether the rescue operations of the BES wants now included in the calculation of the deficit this year, should not compromise the evaluation of Brussels on compliance budgetary targets. Because, except for Parvalorem (which has implicated successive losses but in this case involves only 0.1% of GDP), the rest are extraordinary expenses and do not, therefore, greater effort for 2015

In the case of debt, estimated to be 127.8% at the end of this year. In 2013, was 128% of GDP.

<- end st_tag_p ->

<- end st_tag_p ->

[corrected News 16:30]

<- end st_tag_p ->

António Costa: Ferro Rodrigues “will be a major strengthening of … – Business Journal – Portugal

António Costa: Ferro Rodrigues "will be a major strengthening of … – Business Journal – Portugal

<- Only for logo print ->

António Costa <- - end!>: Ferro Rodrigues “constitute greatly enhanced the ability of the opposition PS “

September 30, 2014,
       16:42 by Lusa

The Socialist candidate for prime minister, António Costa, considered this Tuesday that the leadership of the parliamentary group of PS, Ferro Rodrigues will be “greatly enhanced the ability of opposition “and the construction of an alternative government.

On arrival of the Municipal Assembly of Lisbon meeting, which takes place this afternoon at the Lisbon Forum, the mayor began by confirming the availability of Ferro Rodrigues to lead the bench PS – “I had the honor of Dr. Eduardo Ferro Rodrigues accept my invitation to be the next parliamentary leader,” he said – extolling the “sole political resume “the former general secretary of the PS.

” I think it’s an excellent sign that his leadership will be a major strengthening of the capacity of the opposition PS and strength of PS in the construction of this alternative government ” reinforced António Costa.

Eduardo Ferro Rodrigues succeeds in leading the bench Alberto Martins, who resigned this place after the victory of Antonio Costa on the PS primary elections on Sunday.

Search For tags:

Alert By Keyword:

INE estimate of the deficit for this year exceeds the target of the Government – Expresso

INE estimate of the deficit for this year exceeds the target of the Government – Expresso

<- St_tag_p begin ->

The National Institute of Statistics (INE) points to a deficit of 4.8% of GDP this year, according to the report sent to Brussels and released this Tuesday. It is a value eight tenths above advanced by the Government in amending budget, since it included the assumption of debt by the State of Carris and STCP and also impairments in Parvalorem (ex-BPN).

<- end st_tag_p ->

This value has been calculated according to the new methodology of the national accounts ESA 2010, which entered this year in force and introduces several changes in the calculation of GDP and fiscal balances.

<- end st_tag_p ->

When presented Amending the end of August, the government kept the deficit target of 4%, although it underscore once, that estimate had not been included in some operations. Since then the assumption of debt of transport companies Carris and STCP an amount of EUR 1 192 million (0.7% of GDP) and the assumption of losses on loans BPN Crédito, now held by the public entity Parvalorem (of around 0, 1% of GDP).

<- end st_tag_p ->

Carris and STCP remain outside perimeter of the budget, even with the new methodology, and that liabilities assumed are recorded in the deficit this year. Already a CP, which becomes part of the budget perimeter, will aggravate the debt – so apportioned among the several years – from 2010 but does not affect the deficit.

<- end st_tag_p -> The other operation that, for now, remains out of the accounts is the intervention on BES which, ultimately, can lead to the worsening of the deficit of 4900 million euros if it is considered a capital transfer. In this scenario, whose final decision will be to Eurostat, the deficit would reach 7.6%. <- St_tag_p begin ->

In any case, whether the rescue operations of the BES wants now included in the calculation of the deficit this year, should not compromise the evaluation of Brussels on compliance budgetary targets. Because, except for Parvalorem (which has implicated successive losses but in this case involves only 0.1% of GDP), the rest are extraordinary expenses and do not, therefore, greater effort for 2015

In the case of debt, estimated to be 127.8% at the end of this year. In 2013, was 128% of GDP.

<- end st_tag_p ->

Commission proposes that grandparents pass the responsibility to tell calculation … – Reuters

Commission proposes that grandparents pass the responsibility to tell calculation … – Reuters

A committee of experts appointed by the Ministry of Finance to study the reform IRS proposes that, in addition to children, also dependent ascendant (like grandparents) start to count in the calculation that determines the level and the rate payable.

The proposal, according to the newspaper Público explains this Tuesday, implies that two conditions are met: you must live with the taxpayers (in the same household) upward and that the person concerned has not exceeds the minimum statutory pension (€ 259.4) income.

Currently, the taxable income of a household is divided by the number of taxable persons (two in the case of a couple) . In the preliminary report delivered in July, the commission proposed that a ponteração 0.3 points per child were added. What, in the case of a couple with a child involves dividing income by 2.3.

Now, in the final version of the proposed tax reform, it is expected that the ascendant is assigned (to the upside) identical to one of the descendants, weighting 0.3 points, according to the proposal of Commission, which hosts one of the suggestions of the National Confederation of Family Associations (CNAF).

The final word will be from the government, until the release of the state budget for 2015 According already took PSD- Executive CDS, reform the IRS will be implemented on autonomous diploma

. <- infotext1 -> <-! -> <-! infotext2 ->

Luxembourg approves sale of ES Trips to lock devaluation – Economic

Luxembourg approves sale of ES Trips to lock devaluation – Economic

Filipe Alves

filipe.alves@economico.pt

00:05

‘Holding’ Forte Rio holds first sale of an asset since it came into controlled management. Judge decides the future of the company on the 6th.

The Forte Rio, ‘holding’ the Espírito Santo Group (GES), yesterday announced the first sale of a significant asset since it was placed under controlled management at Luxembourg with the sale, the Swiss Springwater, the Holy Spirit Travel. When the Economic Daily found, the court authorized the operation of Luxembourg by considering that the ES Trips lose value if kept in integrated Forte Rio, given that operates in a particularly vulnerable sector of the difficulties in accessing bank financing arising from the controlled management.

Sign, as a subscriber to read this story in full

It is not yet subscriber?

Ensure and monitor all the information of the Economic Journal, current, accurate and independent.
Choose the mode that best suits your needs.

already subscribe

Commission proposes that the upstream start to count for … – BusinessWeek

Commission proposes that the upstream start to count for … – BusinessWeek

                 

                         
                     

                         

                 

 
                         

When in July presented the preliminary draft reform of the IRS, the tax commission of experts appointed by the Ministry of Finance has proposed a fundamental change in the way it determines the collection of the IRS. Instead of the income of a couple be divided by two to determine the level and the rate payable, the children would also be considered in this calculation. Now, in the final proposal, the working group recommends that the dependent ascendants (grandparents, for example) are also encompassed in this “family quotient”. This is one of the changes that, according to information gathered by the PUBLIC, included in the final draft of the reform committee of tax experts has to deliver on Tuesday the Ministry of Finance.

                     

                          is living with the condition that the taxpayers (in the same household), ascending confirmed the PUBLIC. Another requirement discussed by the commission shall establish that the person concerned has not exceed the minimum statutory pension (€ 259.4) income, such as the rule that applies today in deductions from taxable income.

To calculate the personal income tax rate, the taxable income of a household is currently divided by the number of taxpayers (for example, the income of a couple is divided by two). In the preliminary report submitted to the Minister of Finance on 18 July, the committee chaired by fiscalist Rui Duarte Morais proposed that a weighting of 0.3 points per child were added (in this case, the income of a couple with two children would be divided by 2.6).

In the final version of the document should also be proposed that the dependent ascendant is assigned a weighting of 0.3 points. Consider the situation of a couple with two children and an up living in the same household. Here, the taxable income of the family, currently divided by two (taxpayers) would be divided by 2.9 – the same calculation that is done, for example, in situations where the couple has three children, but no upward charge.

In the preliminary version, the working group has left out this solution to “simplify and especially to limit the budgetary impact of the rule change,” admitting that the measure be changed “on future. ” And yet last Friday, President of the reform commission admitted at a conference on the IRS, that the concept of household for tax purposes should be revised.

Include not only the children but also the upside was, incidentally, one of the proposals that the National Confederation of Family Associations (CNAF) sent the reform commission during the public consultation document. “The reform [draft] already gives interesting steps to give some support to the family. Consider the upside in the family quotient encourages that there is a more human care, because that would open doors to a larger number of families chose to take home the upside, “says the secretary general of the CNAF, Hugo Oliveira.

The change proposed in July by expert tax commission, near the French model, is not consensual and since then has generated an intense debate among tax experts. Even those points limitations and weaknesses recognizes that this is a profound change. Monica Costa and Joan Borralho, the consultant EY, even called the proposal ‘a’ Copernican revolution ‘in the taxation of families. “

To offset the loss of revenue to the State caused by the introduction of this” family quotient ” The committee has proposed creating a system of fixed and equal for all deductions -. further suggestion that divides tax practitioners

Instead of taxpayers are entitled to deductions in respect of expenditure on health, education and housing, to a certain threshold (EUR 1250 for those with an annual income between 7000 and 20,000 euros and zero for incomes above 80,000 euros), the commission proposes that the pass be fixed deduction per taxpayer.

For this, traced several scenarios, depending on what the Government wants to make up for “lost revenue” with the passage to the family quotient. In the most favorable scenario for taxpayers, the deduction was fixed at 330.95 euros per taxpayer and euros 321.95 per dependent.

One of the questions that overshadows what is the Government going to do about the IRS surcharge of 3.5%. The reform commission recommends a gradual reduction depending on budget availability. The Secretary of State for Fiscal Affairs, Paul Nuncio, has repeated that combating fraud and parallel economy could be decisive in reforming the IRS, but did not commit to lowering the surcharge. It is now the executive present retirement, what should happen on the eve of the release of the draft State Budget for 2015 (until 15 October).

                     
 
                     
                 

Mota-Engil work earns 220 million in Mexico – BusinessWeek

Mota-Engil work earns 220 million in Mexico – BusinessWeek

                 

                         
                     

                 

 
                         

The Mota-Engil won the construction, operation, operation and maintenance of a highway in Mexico. This is the “Autopista Tuxpan-Tampico”, specifically the stretch-Ozuluama Tuxpan in Veracruz state, the company said engineering and construction on Monday.

                     

                         In a statement sent to the Committee on Securities Market Commission (CMVM), the Moura led by Goncalo Martins group explains that the agreement reached with the Mexican Government attaches to Mota-Engil a 40% stake in the concessionaire, who will hand you ” the contract for design and construction in the amount of 220 million euros. “

This award, which is developed for a length of approximately 105 kilometers (km) in the Mexican state of Veracruz and involves a total investment of approximately EUR 290 million, is part of the same road runner “Autopista Cardel-Poza Rica,” awarded to Mota-Engil in May this year, the company adds.

The construction recalls that “recently secured the award “other” major projects in Europe, Africa and Latin America. ” Among them, three works of road infrastructure in Poland (160 million euros), a work of construction in Angola (45 million euros), three road infrastructure in Mexico (75 million euros), a work of construction and two earthworks and drainage in Brazil (80 million euros) and in Peru, a mining project (€ 23 million).

“In this way, the group added to its portfolio orders of around € 603 million of new projects, “said Mota-Engil.

 
                     
                 

Taxes: Businesses still contributed the least … – Reuters

Taxes: Businesses still contributed the least … – Reuters

According to this diary, between January and August 2014, the personal income tax revenue rose 11.8% VAT and 7.9%, while the IRC fell 4.3%, remaining in your minimum contribution to tax revenue – only 10.5% of EUR 23 800 million raised

. <- infotext1 -> <-! -> <-! infotext2 ->

Rioforte sells ES Travel to the Swiss of Springwater – Economic

Rioforte sells ES Travel to the Swiss of Springwater – Economic

Ana Maria Barroso

maria.barroso@economico.pt

Yesterday 11:44

The Luxembourg Court gave the green light to the sale. The transaction should be completed in October.

The Holy Spirit Travel (Travel ES), the Rioforte, will be sold to Springwater. In a statement issued today, the group said it received “green light of the Court of Commerce of Luxembourg, which will realize the sale in October.

Rioforte, led by John Feather, which does not advance the values ​​of the sale.

“The Holy Spirit Travel will become an asset of Springwater, which reinforces their investments in the tourism sector,” said the statement, adding that this Swiss investor “wants to affirm as an important player in the Iberian tourism market. “

Rioforte recalls that” in January, the Springwater closed an agreement with Royal Caribbean, having acquired a majority stake in all businesses of Pullmantur, except cruise business. “

” The transaction, expected to be completed in October, was duly examined and approved by the Court of Commerce of Luxembourg, where last July 22 at Fort River filed an application for the procedure Controlled Management “, the statement concluded. The Economic had advanced earlier in the month that the Springwater was one of two finalists for the purchase of ES Travel. The sale of this business was advised by BES I and the PLMJ.

In the race will come to be eight proposals between national and foreign entities, including international funds and companies in the most diverse regions of the world such as Brazil, Angola, Spain and UK sector.

Tokyo Stock Exchange rises amid stronger dollar – Yahoo News Brazil

Tokyo Stock Exchange rises amid stronger dollar – Yahoo News Brazil

<- Google_ad_section_start ->

The Tokyo Stock Exchange closed higher on Monday, with trading marked by high roles of exporting companies amid rising dollar. The Nikkei index returned to positive field in the year after rising by 0.5%, to 16310.64 points.

The American currency was traded at the close of the session, to 109.63 yen from 109.02 yen at the same time on Friday. The high dollar is favorable to Japanese exporters, who now have more competitive prices for the sale of products and a better exchange rate to repatriate profits.

“The dollar remains high bias and should reach 110 yen soon, “the fund manager Mitsushige Akino, of Ichiyoshi Investment. For the economist, the exchange rate should depend on the data coming from the labor market of the United States. If the economy shows signs of improvement, the relationship between the dollar and the yen would rise faster and the Tokyo Stock Exchange must also register gains, believes Akino.

For the chief strategist at Nomura rates table Securities, Yunosuke Ikeda, the movements of the Japanese pension funds should also affect the dollar. The market expects the government to start already in October a more aggressive move in the management of resources of about 1.2 trillion yen administered by state funds. The expectation gives a bias of long-term high dollar.

Among the major exporters, Daikin was up 1.7%, while chip maker Advantest rose 2.7%. SoftBank’s actions, however, fell 1.2% after the news of negotiations for the acquisition of DreamWorks Animation. Investors viewed the move as an indication that the bank may be no options to grow through acquisitions when trying to invest in the entertainment industry. Source: Dow Jones Newswires

. <- Google_ad_section_end ->

Consumer confidence rises in September for maximum … – RTP

Consumer confidence rises in September for maximum … – RTP

 According to the INE, the consumer confidence indicator (calculated via surveys to individuals) is taking over, so “the sharp upward trend observed since the early 2013″ and reaches the highest level since October 2006.
 

 For this climb, says the institute has contributed to improving the “expectations about the evolution of the country’s economic situation and prospects of development of savings and the financial situation of the household.” Already the outlook on the evolution of unemployment negatively affected.
 

 This indicator stood at -24.6 points in September, compared with -25.2 in August.
 

 Already economic climate indicator (calculated via surveys to multiple industries companies) stabilized in September, settling at 0.7 points already registered in August. According to the INE, this indicator suspended so “the growing profile started in January 2013,” although there is still a maximum value since July 2008.
 

 Also today, the European Commission released the economic sentiment for Portugal, which rose in September.
 

 While the European Union’s economic sentiment fell 1.0 points in the euro area and 0.7 (to 103.6 and 99.9 points, respectively) in Portugal was up 1.1 point compared to August, to settle at 101 6 points.
 

 This indicator thus improves again, after having fallen in August and stopped five months of consecutive increases.
 

Lufthansa pilots strike will perform in Frankfurt on Tuesday – The Ball

Lufthansa pilots strike will perform in Frankfurt on Tuesday – The Ball

Pilots of German airline Lufthansa will conduct a strike on Tuesday after the failure in negotiations on the early retirement program, which suspend long-haul flights from Frankfurt, the news agency Reuters .

The union Vereinigung Cockpit (VC) said on Monday that the A380, A330 and A340, Airbus and B747, Boeing, aircraft will not fly to Frankfurt. A spokesman for the union estimated that 70-80 flights will be affected. Lufthansa had no immediate comment.

The VC wants Lufthansa to keep a program that allows pilots to retire sooner, age 55, and still receive up to 60 percent of your salary before regular pension payments begin.

Forte Rio sells Holy Spirit Travel to Springwater – Reuters

Forte Rio sells Holy Spirit Travel to Springwater – Reuters

                 

                         
                     

                         

                 

 
                         

Rioforte announced early on Monday that it has reached an agreement with the Swiss company for the sale of Springwater Holy Spirit Travel (Travel ES), owner of Top Atlantic. According to the statement sent, “the Holy Spirit Travel will become an asset of Springwater, which reinforces their investments in the tourism sector. A Swiss company wants to establish itself as an important player the Iberian tourism market. “

                     

                         According to the same statement last month from January to Springwater had already closed another deal with Royal Caribbean, through which got a majority stake in all businesses of Pullmantur, except the cruise business.

The deal between Rioforte and the Swiss company, the statement said, was reviewed and approved by the Court of Commerce of Luxembourg, where the July 22, Rioforte submitted an application for placing under the controlled management. The court’s decision on 6 October will be known.

Among the assets of Rioforte are the 55% that the company holds in the Holy Spirit Health Care Investments, which in turn owns 51% of ES Health (the other 49% are dispersed in bag). The ES Health is being fought over by various stakeholders, with currently two takeover bids in progress.

 
                     
                 

Portuguese economic sentiment rises and contrary eurozone – TVI24

Portuguese economic sentiment rises and contrary eurozone – TVI24

The economic sentiment indicator from the European Commission for Portugal rose in September, bucking the European trend of decrease for both the eurozone and the European Union.

According to the indicator, released in Brussels on Monday as economic sentiment fell 1.0 points in the EU and 0.7 in the euro area (to 103.6 and 99.9 points, respectively) in Portugal up 1.1 point compared to August, to settle at 101.6 points.

This indicator thus improve returns, after having fallen in August and stopped five months of consecutive increases. In Brazil, consumers, improved from -28.2 to -23.9 points, the retail trade of 1.2 to 2.0, -7.4 to -6.5 in the -46 and industry 2 to 44.8 points in the construction sector.

The exception was the service sector, which fell from 2.6 in August to 0.4 in September.

Among the largest economies in the euro zone, the indicator increased slightly in Spain (0.5 points), remaining almost stable in the Netherlands (0.3), France (0.2) and Germany ( -0.2), having fallen in Italy (-0.9).

In the EU, the economic sentiment fell in the largest economies: -0.9 points in the UK, Poland -0.4 and -2.6 in Sweden.

According to Brussels, the negative trend of the indicator in the euro area and the EU are mainly due to a deterioration of confidence in the retail trade and among consumers.

The indicator of business climate for the euro zone fell in September to the lowest value of the year (and since October 2013), after three months of declines. The European Commission does not disclose data on this indicator for Member States or for the whole European Union.

Tokyo Stock Exchange rises amid stronger dollar – DCI

Tokyo Stock Exchange rises amid stronger dollar – DCI

29/09/2014 – 7:04 a.m.

Estadão Content

TOKYO – The Tokyo Stock Exchange closed higher on Monday, with trading marked by high roles of exporting companies amid rising dollar. The Nikkei index returned to positive field in the year after rising by 0.5%, to 16310.64 points.

The American currency was traded at the close of the session, to 109.63 yen from 109.02 yen at the same time on Friday. The high dollar is favorable to Japanese exporters, who now have more competitive prices for the sale of products and a better exchange rate to repatriate profits.

“The dollar remains high bias and should reach 110 yen soon, “the fund manager Mitsushige Akino, of Ichiyoshi Investment. For the economist, the exchange rate should depend on the data coming from the labor market of the United States. If the economy shows signs of improvement, the relationship between the dollar and the yen would rise faster and the Tokyo Stock Exchange must also register gains, believes Akino.

For the chief strategist at Nomura rates table Securities, Yunosuke Ikeda, the movements of the Japanese pension funds should also affect the dollar. The market expects the government to start already in October a more aggressive move in the management of resources of about 1.2 trillion yen administered by state funds. The expectation gives a bias of long-term high dollar.

Among the major exporters, Daikin was up 1.7%, while chip maker Advantest rose 2.7%. SoftBank’s actions, however, fell 1.2% after the news of negotiations for the acquisition of DreamWorks Animation. Investors viewed the move as an indication that the bank may be no options to grow through acquisitions when trying to invest in the entertainment industry. Source: Dow Jones Newswires

, <- / coment & á rivers ->. <- - Á rivers coment!>

Reference prices for fuels in October – Mad Money

Reference prices for fuels in October – Mad Money

Minister reinforces surveillance /> D. R.

The reference prices of fuel are going to be published in two nd series of the Diário da República (DR) from the end of October. Source of the National Authority for Market Fuels (ENMC) confirmed to Lusa that prices can also be found on the internet that entity page “in the last week of the month, as planned.”

Currently, consumers can know which stations more economical supply of the country by fuel type in the Directorate-General for Energy and Geology page as well as the average price in over 2600 stations in mainland Portugal .

The Government explained the decision to set reference prices for fuels with the ability to “scrutinize the values ​​practiced” and “enable verification county to county, the more situations that deviate from these values.”

The definition of reference prices will be in charge of the newly created ENMC, led by Paul Carmona, replacing the defunct EGREP and keeps the powers regarding the establishment, management and maintenance of stocks of crude oil and of petroleum products.

Diesel consumption in July reached the highest level since January 2012, with the sale of 529 909 tons, 3% more than in the same period.

In the first eight months of the year, sales of diesel totaled 3,723,801 tonnes, up 0.88% over the same period in 2013 but down 2% compared to 2012, the consumption of gasoline fell 2 4% through August compared to the same period of 2013 to 720 508 tonnes.

Pires de Lima goes to London on Monday to lure investors – Economic

Pires de Lima goes to London on Monday to lure investors – Economic

Lusa

Yesterday 15:35

Economy Minister starts on Monday a visit two days to London, with the investment and competitiveness in the Portuguese agenda.

The Economy Minister António Pires de Lima, starts on Monday a two-day visit to London, with the investment and Portuguese as competitiveness agenda priorities.

In his trip, Pires de Lima will have meetings and meetings with foreign investors reference, investment funds, insurance companies and private equity. Speaking to Lusa, Economy Minister reiterated that “investment and exports are two key drivers for growth
” the Portuguese economy and noted that British market
ranks fourth in the ‘ranking’ of trade with the outside world and “is an unavoidable destination in the attraction of foreign investment agenda.”

Therefore, “it is important to consolidate the positive perception that foreign investors have in our country and this is a job constant and coordinated government, embassies, AICEP [Agency for Investment and Foreign Trade of Portugal) and tourism, “he said.

” As finance minister instead I want to convey a message
confidence to British investors and international funds who will be for two days of intense work and to present them with a set of indicators that demonstrate the attractiveness of Portugal and the growing openness and competitiveness of our economy, “concluded the minister.

On Tuesday, António Pires de Lima will participate in the conference Euromoney Portugal, which aims to promote debate on the Portuguese economy, namely the economic recovery, competitiveness and reform of the banking sector.

This conference will count with the participation of Deputy Secretary of State and the Economy, Leonardo Mathias, deputy governor of the Bank of Portugal, Pedro Duarte Neves, President AICEP, Miguel Frasquilho, and president of the Institute of Management of Public Credit (IGCP), Cristina Casalinho, among others.

Pires de Lima will also guest speaker at the annual dinner of the Chamber of Commerce
Luso-British. During the visit, the Minister will also have a meeting with the Portuguese ambassador and delegates AICEP and Tourism of Portugal.

Between January and June, the British market represented 8.6% of total Portuguese exports of goods and services, which totaled 3,500 million euros, an increase of 11.8% over the same period of 2013 In October last year, the Minister of Economy held a two-day mission to London to attract investment to Portugal.

Moviflor closes stores from October 1 – TSF Mobile

Moviflor closes stores from October 1 – TSF Mobile

<- Title -> <- Illustrated Item -> <- Title -> <- TextBlock -> <- Illustrated Item -> <- Title -> <- TextBlock ->

Posted on 26 / 09/2014

<- TextBlock ->

Moviflor closes stores from October 1st

<- TextBlock ->

The Moviflor today announced that workers will temporarily close the shops from 01 October . In a statement the company explains that failed to meet the Special Revitalization Plan could not reach agreement with a potential investor

. <- TextBlock ->

The temporary closure of four stores that the company holds in the country is a serious concern to workers.

Heard the TSF, Célia Lopes, the Trade Union of Workers, guess that this closure should be permanent, since there are months of unpaid wages not only for those who still work for the company but also to those who came through the collective dismissal or termination contract.

“It is a worrying situation because it was admitted to the August 1 an application for insolvency proceedings in the Commercial Court of Lisbon,” added Celia Lopes, who recalled that there is no information on this application due to the Current situation of Justice.

The union points out that last July, had already denounced the failure of the PER, the situation “that remains”, since workers do not receive wages or previous debts.

<- TextBlock -> <- Title -> <- Navigation Bar -> <- Title - > <- Title ->

Share

<- Title -> <- Navigation Bar ->

Search

Services

<- Navigation Bar ->

| <- Navigation Bar ->

<- - Navigation Bar ->

|!

<- Navigation Bar -> <- Title -> <- Title - > <- Title ->

Follow us

<- Title -> <- Billboard -> <- Illustrated Item -> <- Title ->

Text Size

<- Title -> <- Billboard -> <- Title -> <- Navigation Bar -> <- Title -> <- Navigation Bar ->