MONDAY, March 28
Marcelo promulgates budget. Marcelo Rebelo de Sousa went to the country to announce that decided to give green light the state budget for 2016, a document that, although risks of execution and can sin by being optimistic, classifies as “commitment” with a different philosophy in relation to past and revealing of “social concern”. The President thus fulfilled the promise he made to the Portuguese that they explain their key decisions.
The President says that the budget shows social concerns.
Commission Banif not contacted Gaspar. Vítor Gaspar received no call to be heard in the committee of inquiry into Banif. Former Finance Minister Pedro Passos Coelho expected to be formally contacted soon after he sent an email to Mr António Filipe, who chairs the committee of inquiry. Yet it is not certain that Vítor Gaspar will give evidence in person. In fact, the commission of inquiry to BES, and despite having been Minister of Finance and to have the protection of banking, Vítor Gaspar chose to reply in writing to Members.
Court condemns Angolan activists imprisonment. the court in Luanda to sentences of between two years and three months and eight years and six months in prison 17 Angolan activists tried for co-authorship of preparatory acts for a rebellion. They were also convicted of criminal association. The case was born June 20, 2015 when young people were “surprised during a training session, which the authorities considered preparation for acts of rebellion and attack on President Jose Eduardo dos Santos”. In the case of ‘rapper’ Luso-Angolan Luaty Beirão, which came to be on hunger strike during the probation, the penalty in legal height also for forgery, was five years and six months in jail.
Luaty Beirão was sentenced to five years and six months in prison.
Apollo already has agreed to buy Açoreana. Apollo Global Management has agreed to buy Açoreana insurer, for an unspecified amount. In a statement, the Insurance Supervisory Authority and Pension Funds confirmed on Monday the agreement, saying it will now analyze the operation. The amounts involved in this acquisition are not known.
new Anbang in the race for Starwood. Anbang Chinese of the revised upwards its tender offer for the shares of Starwood Hotels & amp ; Resorts for $ 82.75 per share, an offer of 14 billion dollars. This proposal again puts the consortium led by the insurer in the race for the purchase of this hotel chain. Starwood Hotels & amp; Resorts is disputed by Anbang and the Marriott group.
Carlos Tavares Salary contested. Carlos Tavares nearly doubled his salary between 2014 and 2015. The CEO builder automobile PSA received 2.75 million euros per year and earned in 2015, 5.24 million. State representatives in the administration of the French group voted against the wages of Portuguese, advanced the newspaper Les Echos. The Confederation of French unions also considers that the remuneration of the Portuguese manager, head of Peugeot Citroen, is “not legitimate”. The company posted profits above one billion euros in 2015 and announced the end of the restructuring plan and return to dividends six years later.
Carlos Tavares received 5.24 million euros in 2015.
TUESDAY, March 29
Former CEO defended viability of Banif. the saga of the committee Banif began. The first to be heard was Joaquim Marques dos Santos, CEO until 2012, which assured the MPs that the bank was not bankrupt, although still at the end of this year have received a capital injection from the state 1,100 million. “The bank’s viability was never in doubt,” said Marques dos Santos. Jorge Tomé, his successor to the resolution of Banif, attributed the responsibility for the bank’s fall the news on TVI on 13 December: “If there had not been the TVI episode, Banif have a normal liquidity situation.” Jorge Tomé said that the week after the news came out EUR 960 million in deposits. A week “fateful” classified.
Jorge Tomé says the news of TVI was decisive for the fall of the bank.
Dismissal collective advances in the New Bank. In the Banif also the New Bank passed the Parliament. Rather chief executive, Eduardo Stock da Cunha, president of the New Bank, went to Parliament to explain the redundancies in the institution, clarifying that the collective dismissal in the institution will cover about 150 workers as it expects 350 accept out by friendly terminations .
Reform Programme brings money to capitalize companies. the Prime Minister, António Costa, presented the six pillars of the National Reform Programme, a document that will have to be delivered in Brussels . Especially the plan to support the recapitalization of 9300 companies, with an increase of capital of 2.78 billion euros. The money comes from Portugal 2020 (10.500 million euros) and Juncker Plan (2,000 million). António Costa called “stability” policy to put the reform plan on the ground.
Government Partner breaks with Dilma. The PMDB, PT ally party in government of Dilma Rousseff, announced its departure from the coalition. The end of the coalition in Brazil could hasten the departure of the President, Dilma Rousseff, who faces an impeachment. The PMDB – led by Michel Temer, vice president of the country – held so far seven folders in the Government, namely Tourism, Energy and Health
The party of Michel Temer withdrew support Dilma Rousseff.
Yellen urges caution on rising interest rates. the US Federal Reserve raised the benchmark interest rate in December, the first time in nearly a decade. Three months later, several officials of the central bank has defended new upward revisions. But Janet Yellen advises caution, given the global context. “I consider it appropriate that the Committee [Federal Open Market, or FOMC] proceed cautiously in the adjustment of monetary policy,” argued Janet Yellen in a forum in New York.
WEDNESDAY, March 30
solution for injured BES until May. the Prime Minister has committed to a date to be “found a solution to minimize losses for the injured “BES. Will be at the beginning of May, secured António Costa, in a statement made alongside Carlos Costa, Carlos Tavares, Luís Máximo dos Santos, Ricardo Angelo and Alberto Neves after being signed the memorandum of understanding that will seek to find a solution to ” minimize losses “of the private investors who bought commercial paper of the Holy Spirit Group.
Mr Costa joined the parties and promised a solution to the injured BES.
economic growth stagnates in 2016. the Portuguese economy will grow 1.5% this year and 1.7% in 2017. the projections are the Bank of Portugal and represent a downward revision from the previous estimate of the bank central. They are situated well below the Government signed the state budget for this year, pointing to a GDP growth of 1.8%.
Dismissal in Águas de Portugal. “Why do not agree with the ideas that the sectoral protection advocates for the Águas de Portugal Group,” Afonso Lobato Faria resigned as president of the public company. Justification is the proper and contained in a letter sent by Lobato Faria administration of Águas de Portugal.
Problem in IRS statement delivery. Some manufacturers internet browsers have decided to stop using the technology NPAPI what caused the latest versions of Chrome and Edge do not support Java Applets. A change that has implications for the delivery of the tax return, which uses this technology. Thus the Ministry of Finance warns that you can not use the latest versions of Google Chrome or Microsoft Edge, and with browsers Internet Explorer, Firefox or Safari there are no problems.
Only three browsers are compatible with Java.
Almost 3,000 entities vying for donation “IRS technology. the Ministry of Finance published the list of entities that have applied to receive part of the IRS Portuguese taxpayers. There are more than 3000 entities taxpayers can “donate” 0.5% of personal income tax collection, and this assignment is not any cost to taxpayers.
QUINTA -Thurs, March 31
BCP devalues 600 million in five days. the BCP is living a new negative period in the Portuguese stock market. on this day the actions of the bank led by Nuno Amado fell 7.57%, rising to 22.18% the cumulative decline in the past five sessions. a performance is a loss of 602 million euros in the market capitalization of the institution and that was accentuated after the announcement of intention to proceed with a merger of 193 shares in one and opening the door to new shareholders.
the bank led by Nuno Amado lost EUR 602 million in five sessions.
Varela fault ECB and Brussels. There are two responsible for how the fall happened Banif: the European Central Bank and the Directorate-General for Competition of the European Commission. The idea was spread by Antonio Varela, who left a few days ago the Bank of Portugal and was founded by database administrator Horacio Roque between 2013 and 2014. In Parliament, Varela said that the fall of Banif “went so bad because the European institutions were absolutely committed to not have any responsibility [regarding] the evolution of Banif in the post-end of 2015 “.
Maria João Carioca leads Euronext Lisbon. Maria João Carioca was chosen to take over as CEO of the Portuguese stock market. The current managing director of Caixa Geral de Depósitos will start working in the second half of this year, and there Isabel Ucha remains as interim president. Maria João Carioca is the manager of public bank since 2013 and before passed by SIBS, Unicre and McKinsey.
Maria João Carioca takes office in the second half of this year.
Public debt declined in 2015. Public debt in Portugal stood at 128.8 % of GDP. Although slight, this is the first fall in debt since Portugal requested international financial assistance. In 2014 the debt ratio had reached a peak of 130.2% of GDP, and the NSA warned that Eurostat will revise the 2015 value upwards to 129% due to the impact of the resolution operation and recapitalization of Banif .
Ministers call for change in the deficit. Mario Centeno was one of eight ministers of the euro Finance to sign a letter to the European Commission where requested a change in how it is calculated the structural deficit. The card gets special attention because it represents an unusual alliance between the southern countries (Portugal, Spain and Italy) and North (Luxembourg, Latvia, Slovakia, Slovenia and Lithuania). Ministers point to an “inconsistency” methodology that generates “discrepancies” and “confusion” in the evaluation of structural balances. The European Commission said it is examining the contents of the letter.
The Minister of Finance wants the European Commission to change the way it is calculated the structural deficit.
SEXTA- MONDAY, April 1
the five alerts IMF to Portugal. the International Monetary Fund (IMF) warns that the growth of the Portuguese economy is being “only modest “. Warns that there is execution risk in the State Budget for this year and is also concerned with the various reversals. Overall, the institution led by Christine Lagarde highlights five areas of concern: growth “only modest”, the risks of implementing the budget, the need for banks to strengthen their balance sheets, the reversal of measures in the labor market and reversals in business domain that reduce investor confidence. These alerts appear as findings of the report prepared by the IMF, following the completion of the third mission of foreign aid post-program monitoring. The organization estimates that the GDP of Portugal will grow 1.4% this year and 1.3% in 2017.
The IMF, headed by Christine Lagarde, provides that Portugal grow 1.4% this year.
Bankinter paid less for Barclays Portugal. the Bankinter acquired Barclays operations in Portugal for 86 million euros. This figure is 14 million less than initially expected (EUR 100 million) in September last year and could still be revised. In a statement to the Spanish market regulator, Bankinter confirms the formalization of the purchase of Barclays operations in Portugal, announced for the first time in September last year. At the time, the Spanish bank said the price of the transaction was approximately 100 million euros (75 million in insurance and pension business). The bank warned, however, in a footnote that the “final price of the transaction would be adjusted to the value of the assets on completion of the operation.” That is, today, April 1.
must Ongoing 1.2 billion. Ongoing has debts of more than 1,200 million euros, spread over 62 creditors of according to the announcement which was published in Citius site, under the Special Process Revitalization (PER) of society. The main creditor of Ongoing Strategy Investments, led by Nuno Vasconcellos is the New Bank, with a higher debt and € 493 million. BCP does not escape and has 281.9 million euros in debt. The banking incidentally, is the main creditor of Ongoing, including the People’s Bank, Montepio, Haitong Bank, Santander and Barclays, which in total have to receive more than EUR 970 million.
The largest creditor of Nuno Vasconcellos Ongoing is the New Bank.
Age of retirement will rise. In 2017 the legal retirement age will rise to 66 years and 3 months, both the Social Security and the General Retirement Fund (CGA). Anyone who wants to retire before you have to resort to early retirement arrangements, which, in the case of Social Security, returned to be more restritivos.Estes data have been officially confirmed in the Official Gazette, “the normal age of entitlement to a pension in 2017 passes being 66 years and three months, “reads the ordinance. These 66 years and 3 months account for another month than the level in force here.
ratio reduces penalty Duarte Lima. The Court of the Lisbon upheld the conviction of Duarte Lima by aggravated fraud crimes and money laundering in Homeland process, having reduced from 10 to six years the sentence imposed on the former social democrat deputy about two years in the first instance. The reduction of the sentence by the ratio prevents the convict can appeal to the Supreme Court.
Duarte Lima will not be able to appeal to the Supreme Court.
Draw delivery of the IRS. April 1 marks the start of the 2015 IRS delivery , which this year fails to distinguish who delivers paper and the internet. The month is reserved for those who only have income from employment and / or pensions (A and H) regardless of choosing make delivery on paper or the internet. In May, it will be the remaining taxpayers who have income from other sources (such as income and self-employment). Closed which is the period of verification of expenditure.
No comments:
Post a Comment