Wall Street on high for the first time in five sessions on hopes of Fed – Jornal de Negócios – Portugal

The major u.s. indices have opened on a high this Monday, the 31st of October, after four consecutive sessions of losses.

The industrial index Dow Jones goes up 0.15% for 18.187,69 points, while the technological Nasdaq gained 0.30 per cent to 5.205,76 points. Already the S&P500 values of 0.2% to 2.130,18 points.

investors are waiting for the end of the monthly meeting of the monetary policy of the us Federal Reserve on Wednesday, in the final sprint to the presidential elections, which take place on the 8th of November.

The expectation of economists is that the authority, led by Janet Yellen to leav e the interest rates unchanged between 0.25% and 0.5%, indicating the last month of the year as the probable date for a rising interest, that will be the only in 2016.

This Monday, before the opening of the markets, it was revealed that consumer spending rose 0.5% in September – the biggest advance in three months – driven by income growth. The increase was higher than expected by analysts, which pointed to a growth of 0.4%.

in Addition to this indicator, investors will be attentive this week to the data on industrial production, orders will be industry and job creation.

(News updated at 13:48)

Education with less 169,5 million euros – Diário de Notícias – Lisbon

The budget for elementary, secondary and school administration planned for 2017 decreases 169,5 million euros in relation to the funds that the State expects to spend this year

The budget for elementary, secondary and school administration planned for 2017 decreases 169,5 million euros in relation to the funds that the State expects to spend this year, according to data from the Ministry of Finance.

at The request of the parliamentary groups of the PSD and the CDS-PP, the services of the Ministry of Finance sent last Friday to the Assembly of the Republic more information related to the proposal of the State Budget for 2017 (OE2017).

in These new documents, there is a cut of 169,5 million euro for the Basic and Secondary Education and School Administration in relation to the value already estimated for this year.

the office of The minister of Finance now compares the amount of money that has already been spent in 2016 along with the value that should be used until the end of the year (total expenditure consolidated 2016) with the funds, the government plans to use in the next year (planned allocation) and concludes that there is a reduction of 2.7%.

however, in the proposed State Budget for 2017, which was released in the middle of this month, it was made a comparison between the budget planned for 2016 and the budget for the next year, and the frames showed an increase of almost 180 million euros (up 3.1%).

however, between the amount that, in the past year, the Government predicted that they would spend in 2016 (planned budget) and the actually spent there has been an increase 348,9 million euros over the year.

The documents do not offer contradictory information – both attach 6.022,7 million euros for this ministry – but compare different realities.

On the report of the proposed OE2017 delivered about two weeks ago in parliament, said that there was “an increase in expenditure of 3.1% (more 179,4 million) compared to the budget set for 2016″.

While in the documents now delivered in finance, the comparisons between 2016 and 2017 show a variation of less 2,7%.

In both documents highlight the reduction of transfers to the private and cooperative education (least to 12.3%) and the strengthening of pre-school education (over 14.5 per cent).

In total, the executive intends to transfer next year to the private and cooperative education 223 million euros, and for teaching pre-school 529,4 million euros.

Fitch continues to assign to the EDP’s `rating` of investment – RTP

“Today, Fitch Ratings has maintained the rating long-term rating of BBB – and short-term “F3″ of EDP and EDP Finance BV, as well as the “BB” for other instruments representing subordinated debt (`hybrid`)”, it reads in the information to the market, that is the perspective with regard to the evolution of the notation (`outlook`) remains as “stable”.

To the EDP, this reaffirmation of the note reflects its “position of leadership” in Portugal, “a support in the rapid growth of the business of renewable energy and a moderate exposure to market risk”, but also contains “some of the uncertainties coming from Brazil and the transition to the liberalised market in 2017 capacity is currently under long-term contracts in Portugal”.

Fitch said, according to the EDP, the new business plan “confirms the intention of the administration to reduce leverage and preserve a business profile in a great measure regulated and quasi-regulated”.

today, Too, the EDP informed the market that the Norges Bank currently has a qualified holding in your capaital social equivalent, in total, a 2.08%.

Growth in the euro zone remained stable in the third quarter – the State of Minas

The economic expansion of the euro zone has stabilized in the third quarter of the year, at 0.3%, according to data published on Monday, although analysts warn about the consequences of Brexit for the growth of the countries of the single currency in 2017.

The growth of the Gross Domestic Product (GDP) of the 19 countries del euro remained stable at 0.3% in the third quarter of 2016, in comparison to the previous three months, said the european institute of statistics Eurostat, converging with analysts polled by Factset (Research Systems Inc., multinational company financial information).

The euro zone has registered in October a inflation of 0.5%, in rapid progression in relation to the previous month, according to Eurostat, which represents its highest level in 27 months.

For the analyst Howard Archer of IHS, Markit, GDP growth in the euro zone may increase by 0.4% in the fourth quarter compared to the period from July to September, leaving the total expansion 2016 at 1.6%, as estimated in the European Commission in its forecasts of may.

Among the euro countries that have already reported their forecasts for the third quarter, France reported growth of 0.2% of its GDP, after the unexpected retreat of -0,1% in the previous quarter.

According to Archer, Spain registered an “impressive” growth of 0.7%, “despite the stagnation policy” and the slowdown in the second quarter (to 0.8%).

however, we have concerns about the growth prospects of the euro area in 2017,” he added, in reference to the political uncertainty caused by elections this year in the two largest economies of the euro zone, France and Germany, and the possible difficult negotiations for divorce with the United Kingdom (Brexit).

The 19 countries of the euro may register a slowdown of up to 1.4% of its economy in 2017, said the analyst. This would be just a little below forecasts of the International Monetary Fund (IMF), which also reduce the expansion of the euro area of 1.7% in 2016 to 1.5% a year later.

In the 28 countries of the European Union (EU), the growth was 0.4% in the third quarter, stable in relation to the period from April to June of 2016.

- Inflation still low –

The decision of the british in June to abandon the European Union has added uncertainty to an european project weakened since the financial crisis of 2008 and the recent migration crisis, passing by the attacks the extremists.

in Addition to the Brexit, the IMF had warned in early October about the consequences of a low inflation economic activity in the euro zone, it would not meet “until 2021″ the goal of the European Central Bank (ECB) to maintain it close to, 2%.

In October, even though atendir the highest level since June 2014, the increase in prices to the consumption (IPC) stood at 0.5% in the euro area.

The underlying inflation, which does not consider the prices of energy and food has not prepared, remained also low, according to the analysts, for whom the consumers are still reactive spending.

two years Ago, the ECB tries to stimulate the credit with the aim to reactivate economic growth and inflation in the euro area that recorded in August an unemployment rate of 10.1%.

Although inflation remains low and the economic recovery of the countries of the euro does not stabilize, analysts do not expect changes in its asset purchase program, but “an extension of six months (…) until September 2017,” according to the economist Jennifer McKeown, of Capital Economics.

Inflation in the Euro Area amounted to 0.5% in October, in maximum 2014 – Jornal de Negócios – Portugal

Without energy, the inflation would have reached 0.7%, according to the provisional data of Eurostat inflation data for October, whose final data will be revealed on the 17 of November.

In the services, consumer prices have maintained an increase of 1.1%, the same as recorded in September and August. Already in food, alcohol and tobacco to rise 0.4% in October was lower than the 0.7 percent recorded in the previous month.

Without the more volatile components – energy and food is not processed – prices rose 0.7%, which is less than 0.8% a month before.

inflation is on the rise in the Euro Zone, but is still far from the goal of putting close to 2%, as desired by the Central Bank European, for that he has in force a program of stimuli to the economy, with low interest rates and buying assets in the market, such as public debt and other obligations of companies.

the actions of The ECB has been, in fact, in the orbit of the markets, as if waiting for the moment that the ECB will close the faucet. For now, the latest indications from Mario Draghi are read as having the ECB intention to keep the stimulus and the program of purchase of assets, as the ECB president gave indications that do not will terminate the program abruptly. So, Mario Draghi admitted that the program could extend beyond March 2017, as originally planned. The ECB is active in the market in purchases of 80 billion euros a month.

With inflation taking off, there are other signs for the economy in the Euro Zone that have to be taken into account. According to Eurostat data, the economy of the bloc grew by 1.6% in the third quarter of this year compared to the same period of last year, having advanced by 0.3% in the chain, the same as in the second quarter and in line with the estimates of economists.

TAP renews the fleet. See how is the modernization of the interiors – Diário de Notícias – Lisbon

the Company will invest eur 70 million to modernize 48 planes. Gago Coutinho was the first

The A319 of TAP, with the name Gago Coutinho, was the first airplane to pass by an operation of renovation of the interior. In total, in the coming months, the company will invest eur 70 million to modernize 48 units.

In the case of Gago Coutinho, the renewal, in which they have worked 48 maintenance technicians, meant that the machine was stopped 180 hours. In total, there were necessary 1500 working hours to perform the transformation.

According to a release from the TAP, this modernisation will be carried out in partnership with Portuguese companies. The new chairs, with the design of the Almadisign, are in green and red and want to be more comfortable. Their coatings, the responsibility of the Karmann Ghia de Portugal. The hides used from the also Portuguese Blue Leather, were produced in an environmentally friendly way, free of chromium and heavy metals, says the TAP.

those Who travel in the Executive and in the front part of economy class have more space between chairs, about 83 centimeters.

With these changes, the planes of the TAP will also provide 12 additional seats in the case of planes A319.

The use of lighter materials allows us to remove 700 pounds to each plane.

The renovated Gago Coutinho flight today in the direction of the Luxembourg.

Brussels: President at Goldman Sachs does not violate duties to health – Jornal de Negócios – Portugal

The ethics committee, ad-hoc of the European Commission concluded that the hiring of the former president of the EC, Durão Barroso, by Goldman Sachs, have not violated the duties of integrity and discretion requests to the former members of the Commission.

according To the committee, “there are sufficient reasons to conclude for the violation of the right of integrity and the reservation (…) with regard to the acceptance by the former president Barrosos of the positions of the non-executive chairman of directors of Goldman Sachs International and a counselor in the affairs of the company and its customers.”

in A decision of eight pages with the date of the last day 26 and disclosed on its website, the agency leaves a message to the former president, considering that “he has not shown the insight that can be expected of someone who held the position that he held for so many years”. Is today – 31 October – two years that President ceased to be president of the European Commission.

“In fact, Mr. Barroso should be aware that to do so would give rise to criticism and to the risk of cause damage to the reputation to the Commission and to the Union in a more generic way. If this were not the case, it would have in this respect shown negligence. It has been conscious or not, the damage has already been caused,” he concludes.

The committee has based its judgment that there is no conflict in the guarantee given by Barroso that this will not “lobby” on behalf of the Goldman Sachs and in the letter sent by the former leader of the Committee to the current president, Jean-Claude Juncker, in September last, in which Barroso, “as someone who has dedicated his life to a career in public service, including 12 years in the Portuguese government, two years of which as prime minister, and ten years as president of the Commission” had to know “very well what are my responsibilities to the european institutions and, of course, I maintain my commitment to act with integrity, and reserve”.

according To the article 245 of the Treaty on the Functioning of the European Union, the former members of the European Commission must comply with “the obligations arising from this position and in particular their duty to behave with integrity and reservation as regards the acceptance, after they have ceased functions in certain posts as or benefits.”

The body note three factors that may have triggered the public reaction negative to the nomination: the fact that the bank in question is Goldman Sachs International , “seen as the exponent of the investment banking aggressive” and associated with the beginning of the financial crisis and to aid in the concealment of the true financial situation in Greece; the supposed appointment to advise the bank in matters related to the Brexit; and the argument of the door-swivel (passage of the public sector to the private).

In the letters, President ensured that not act as an advisor to Goldman Sachs with respect to the output of the United Kingdom of the European Union. But, in their first statements to a media after being known the time of his appointment to “chairman” as a non-executive of Goldman Sachs International, 9 July, President Barroso said that he would do everything in their power to “mitigate the effects” of Brexit in the activity of the bank based in London.

“of course I know very well the European Union, also know relatively well the environment of the United Kingdom. (…) If my advice can help in these circumstances, I am ready to help, of course,” said this Friday, July 8, the former European Commission president and ex-prime minister, quoted by the Financial Times.

“Although my nomination has been announced after the british referendum, the administration decided to indicate to me prior to the referendum. (…) In fact, at the time of the referendum my appointment was the wait for the approval of the regulators of the british,” elucidates now Barroso, quoted by the committee.

The committee concludes that it is not “against the law” to accept an ex-commissioner, to accept a position at the bank provided that the institution abides by the law (the case that is said to be that of the financial institution) and that the experience of the team in areas such as the financial and banking crisis, the euro crisis and its implications in the European Union “will be precious for Goldman Sachs.”

Juncker has asked the 15 of September to the committee an opinion on the compatibility of the new functions of Barroso with the Treaty of the Functioning of the European Union, having this body perched on the letters exchanged between Barroso, Juncker and the ombudswoman european, Emily O’reilly.

The committee note in its decision that though usually pronounce over the period of 18 months (the period of disgust) after the departure of former members of the Commission, in this case (in which this period had already expired) agreed to discuss the case of Barroso at the request of Juncker. And remember the financial penalties that can be applied by the Court of Justice in case of detected violations of the obligations enshrined in the Treaty.

The nomination of Barroso for chairman non-executive director of Goldman Sachs International was known to the 8th of July last. Durão was the president of the European Commission between 2004 and 31 October 2014.

(News updated at 13:13)

“No counterparts in the Government, the minimum wage may not exceed the 540 euros” – TVI24

The president of the Confederation of Trade and Services of Portugal (CCP) considers that “without the benefits of the Government, the minimum wage may not exceed 540 euros”.

In an interview published in the Daily News, João Vieira Lopes said that it is “very difficult” in the next week, in the new meeting of the social dialogue, the Government and social partners reach agreement on minimum wage increase.

“it Is very difficult, for two types of reasons. We are not sure if, in fact, the Government wants an agreement, because an agreement, as is customary to say, has numbered pages and odd numbered pages,” he noted, adding that in the first “entities to make compromises” and, in the latter, “have few counterparts”.

what happens is that, to make an agreement involving the business sector, and that involves some setbacks in some areas – labour, wage or other-the government has put a set of counterparts, either of character economic, be it tax-related, that allow the companies to accept this situation. Is what has been happening in all the agreements,” he said.

he Stressed that today does not see “the part of the Government contrapropostas in which the companies are satisfied to be able to make some compromise,” adding that the minimum wage “is a very sensitive point”.

Because – he explained – the weight of the minimum wage in the companies of the area of the restoration is “significant” and in the area of trade “more heterogeneous”, but in the areas of the call are labor-intensive, such as “cleaning, merchandising` and all this kind of services, comes the stick 80% of weight”.

the president of The CCP has not advanced, however, with the value that the confederation, which is presided by advocates for the fixing of the minimum wage in 2017, claiming to be a theme of “great social sensitivity, to the extent that the minimum wages in Portugal are low”.

“it Is very easy to make populist demagogy, saying that increases of 30 cents, 40 cents, 50 cents. Now, for us, the problem is economic. The sectors in which the minimum wage has no weight or are able to reflect on the costs of the products and services that sell these wages or are unable to. If you can, very well, the more money there is in circulation, the better, in particular for the trade and the services. If they don’t get…”, he added.

See, as it was the first of the 48 planes of the TAP renewed News Journal

THE TAP is going to invest 70 million euros in the renovation of the 48 planes in the coming months, in the framework of a programme to upgrade the fleet.

The first plane, the A319, named “Gago Coutinho”, with the cabin fully renovated made this Sunday a first flight, connecting Lisbon to Luxembourg.

The air carrier underlines, in a press release, that “turned for the first time to the national production for the coatings of the new chairs.”

See the video of the remodeling of the “Gago Coutinho”.

Volunteering at the Web Summit gives free transit to the pockets of Portuguese – RTP

Marina de Castro – Antena 1 Oct 28, 2016, 09:39 / updated on 28 Oct, 2016, 14:24 | Technology

Seventy percent of the volunteers are college students. The other 30 percent are people who are working. There are many Portuguese, but also young foreigners who do not want to miss the opportunity.

The Web Summit, said goodbye to Dublin last year and it was there that they were two young people in portugal: at the time university students, now working, shared it with the Antenna 1 the experience of having participated in a global conference.

The volunteer program of this event exists since 2014 and is replicated in several conferences organized by the team WS: Collision in New Orleans, RISE in Hong Kong or MoneyConf in Madrid.

the ages of The volunteers, coming from more than 80 countries, ranging between 18 and 60 years old.
Tickets go up this Friday
The cheapest ticket for the conference technology, which now costs 840 euros, only for the area of the display, will pass to thousand euros. The tickets that let you attend lectures in the 15 stages will have the prices increased from 898 to 1245 euros.

those Who want to have VIP access you will need to spend 5250 euro.

Block tightening the siege on António Domingues – Jornal de Negócios – Portugal

The leader of the parliamentary Left Bloc (BE), Pedro Filipe Soares, announced on Saturday that the party will submit in Parliament a initiative to limit the salaries of public managers to the ordained of the prime minister.

“we Propose that the salaries of public managers, including the General Box of Deposits, not to be superior to that of the prime minister, the executive officer of the country,” announced Pedro Filipe Soares this afternoon.

in This sense, BE want to eliminate the exceptions that are made and in this way respond to wages “unacceptable and incomprehensible”, presenting his views on the matter on the discussion in specialty of the State Budget for 2017.

“we’ll deliver a proposal that is fair, decent, reasonable and appropriate to end this national shame,” continued the leader of the bench of the BE.

Pedro Filipe Soares enlisted still some public managers and not only – Zeinal Bava, Henrique Granadeiro and Ricardo Salgado – to argue that payments are “luxurious” are not a guarantee of a good management.

“we do Not accept that if you make a blackmail on the State itself” on wages, he said.

The bloquista announced the intention of the party in Vila Real, in the press conference that closed two days of questing party’s parliamentary taken in Trás-os-Montes.

Minimum wage is higher than 500 only with contrast – Observer

The president of the Confederation of Trade and Services of Portugal (CCP) said on Sunday that "no counterparts of the Government, the minimum wage may not exceed € 500".

In an interview published in the Daily News, João Vieira Lopes said that it is "very difficult" in the next week, in the new meeting of the social dialogue, the Government and social partners reach agreement on minimum wage increase.

"it Is very difficult, for two types of reasons. We are not sure if, in fact, the Government wants an agreement, because an agreement, as is customary to say, has numbered pages and odd numbered pages," he noted, adding that in the first "entities to make compromises" and, in the latter, "have few counterparts".

what happens is that, to make an agreement involving the business sector, and that involves some setbacks in some areas – labour, wage or other-the government has put a set of counterparts, either of character economic, be it tax-related, that allow the companies to accept this situation. Is what has been happening in all the agreements," he said.

he Stressed that today does not see "the part of the Government contrapropostas in which the companies are satisfied to be able to make some compromise," adding that the minimum wage "is a very sensitive point".

Because – he explained – the weight of the minimum wage in the companies of the area of the restoration is "significant" and in the area of trade "more heterogeneous", but in the areas of the call are labor-intensive, such as "cleaning, merchandising` and all this kind of services, comes the stick 80% of weight".

the president of The CCP has not advanced, however, with the value that the confederation, which is presided by advocates for the fixing of the minimum wage in 2017, claiming to be a theme of "great social sensitivity, to the extent that the minimum wages in Portugal are low".

"it Is very easy to make populist demagogy, saying that increases of 30 cents, 40 cents, 50 cents. Now, for us, the problem is economic. The sectors in which the minimum wage has no weight or are able to reflect on the costs of the products and services that sell these wages or are unable to. If you can, very well, the more money there is in circulation, the better, in particular for the trade and the services. If you don’t…," he added.

BE advances on the limitation of salaries of public managers – Diário de Notícias – Lisbon

Block argues that managers in public does not earn more than the head of the government

The Left Bloc will present, in the debate on the specialty of the State Budget, a proposal that the salaries of public managers cannot be higher than the prime minister- 6576 euros per month – and even revoke the decree-law approved by this Government that allows for the exception in the case of the administration of the Caixa Geral de Depósitos.

The announcement was made by Pedro Filipe Soares, at the close of the conference of parliamentarians of the BE, in Vila Real. The case António Domingues divides bloquistas and Government, with the party led by Catarina Martins to be uncompromising – no one is above the law, and the president of the administration of the Caixa Geral de Depósitos, you must submit a statement of income. “The law is an imperative.”

“The perspective that there are reporting obligations that may not be met by some managers, that there are salaries that do not have limits, is a leveling of the law, it undermines the confidence of the people in the state and shoots to the streets of bitterness, the requirement that must exist for the performance of public positions,” explained the leader of the parliamentary principle, which clearly showed the disagreement with the Government on this matter.

he Justified that “there is not any kind of exception and it is not acceptable that is a legal opinion that overlaps with the law, with reference to the law 4/1983, “clearly says that holders of public office must be submitted within 60 days of the income statement”.

“don’t do that as this or that administrator. Our proposals in this area are known,” said Pedro Filipe Soares, which reinforces the application of transparency, defended by BE, with the “provision of declaration on the internet to be consulted by any citizen.”

If the Government does not concede? Pedro Filipe Soares responds with the popular support, the “general dissatisfaction in the Country”, to appeal to the socialists of the rollback. But if it does happen, the BE will keep its position, does not mean that any break with the government, before a difference in the level of the financial policy that was already visible, for example, in the case of BANIF.

BE it devalues the cases of undergraduate programmes

the Matter closed. It is thus that the BE faces the case of the two layoffs in government offices after they are discovered degrees distorted. “The people who falsearam data on their qualifications have been identified and have been removed. It is a case that does not have much to add,” said mr Jorge Costa.

“there is nothing normal people falsearem data about their qualifications. It is very reprehensible, and unfortunately it seems that more often than would be imaginable. The explanations were given, people away,” he added.

THE BE considers that the minister Tiago Brandão Rodrigues has come to say that he was not aware of fake qualifications and is satisfied with the explanation. Critical before the right – the CDS have already asked for the resignation of the minister of Education – not to have great credit to make this type of demands, recalling “the time was the minister Miguel Relvas,” when you went through a similar situation of false qualifications

BE refuses to “litanies” and want public managers to earn below the prime minister – the Express

The leader of the parliamentary Left Bloc (BE), Pedro Filipe Soares, said this Saturday that the management of CGD is "outside the law". The responsible bloquista ensures that the party does not enter in the "litanies" on the possibility of salaries exceeded ensure greater competence in the management of public positions and asks for "less dedication to the dollar and more dedication to the public cause".

For the party, the majority of the population considers "incomprehensible" the large remunerations paid to managers of public and accuses the PS, PSD and CDS are "out of phase in the country".

In the closing remarks of the conference of parliamentarians of the party, in Vila Real, Pedro Filipe Soares spoke of the law no. 4/83 on the public control of richness of the holders of public offices, and says that just read the law to determine the obligation of all public officials submit a declaration of income in the Constitutional Court.

"The prospect that there is that there are reporting obligations that may not be met by some managers and that there are salaries that do not have limits, it is a perspective that makes a leveling of the law," considers the leader of the parliamentary program. "It undermines the trust of the people in the State and shoots to the streets of bitterness, the requirement that must exist before the performance of public functions," he adds.

The leader of the party recalls that the manager of the GBD António Domingues, began its work on 31 August, you have until tomorrow to submit their declaration of income, assets and participation in social roles. "If you do not, you will have a period of 30 days to remedy this failure," noted the head of the Left Bloc, for whom currently there is a "directors of CGD to the margin of the law."

As had already been stated in relation to this matter by the coordinator of the BE, Catarina Martins, "salary millionaires" do not guarantee a better management and Pedro Filipe Soares gives the example of cases of Zeinal Bava, Henrique Granadeiro, or Ricardo Salgado. "Were not their salaries that have prevented these actions, just as there was none of the salaries of millionaires in the world that prevented the financial crisis of 2007 and 2008, that both cost to the global economy, on jobs, bailouts of banks and resulted in the ruin of the several families," says the leader of the parliamentary Block.

"The Block does not enter in the litany that is, with the payment of money, that we guarantee good managers. It is not devotion to the dollar sign, but the dedication to the public cause that should guide the choice of public managers", argues Pedro Filipe Soares.

The responsible person said that the party will present a proposal on the details of the State Budget. "It will be a proposal that is fair, decent, reasonable and appropriate to end this national shame," says the leader of the bench of the BE.

"we Propose that the salaries of public officials are not higher than the salary of the prime minister," explains Pedro Filipe Soares, and announces the intention of the party to revoke the decree-law that exceciona the administration of the Caixa Geral de Depósitos of the statute of the public manager.

The claims of the Left Block are even more comprehensive, and the party intends that the reporting obligations are even more demanding. "Not only is the delivery on the Constitutional Court, as more information on this statement and the provision of this declaration in the internet site, so that any citizen can have access to this knowledge", claims the person responsible of the BE.

OPA to the BIS goes one step further determinant – Jornal de Negócios – Portugal

The European Central Bank (ECB) gave the green light to the Spanish CaixaBank to proceed with the public offer of acquisition (OPA) on the BPI. The information was revealed this Friday, October 28, by the executive chairman of CaixaBank, Gonzalo Gortázar, during the press conference of presentation of the results of the third quarter.

“we have Received authorisation from the ECB to move forward” and we hope to take the OPA in progress “to a good port in the coming months,” said Gortázar, quoted by Lusa.

The approval of the ECB, or the non-opposition to the operation, it was critical that the OPA could be next.

But there are still other approvals. In the preliminary announcement of the TAKEOVER bid, published in the comissão do mercado de Valores Mobiliários (CMVM) on the 21st day of September, were set out the authorisations required for the operation if efectivasse.
in Addition to the ECB, the La Box needs more seven responses: the non-opposition of the Supervisory Authority of Insurance and Pension Funds; the European Commission’s approval; the authorization of the Bank of Spain, of the National Bank of Angola and Bank of Mozambique; and the non-opposition of the regulators of luxembourg and the Cayman Islands.

In early September, the ECB sent a message to “hard” to the BIS, by requiring the shareholders to find a quick solution and ultimately to the impasse that the institution lived. At issue was the question of Angola. The supervis or committee has imposed that the BIS should reduce its presence in Angola in December 2014, setting April 10, 2016 as a deadline for the adoption of a solution. After Isabel dos Santos have interfered with the spin-off of the assets of africans in a new society, the CaixaBank and the entrepreneur have reached an agreement to resolve the problem. But the second largest shareholder has receded.
This question was only resolved in the general meeting of 21 September, when the BPI and Isabel dos Santos reached an agreement with the Portuguese bank to cede control and power management of Banco de Fomento Angola (BFA) to Unitel, reducing its position to be 48,1%.

This agreement provided the non-opposition of Isabel dos Santos to desblindagem of the statutes of the BIS, a condition in determining the tender offer to proceed. The shareholders approved the order of the limit of votes, which was about 20%.
That same day, the CaixaBank increased the contrast of the tender of fer of 1,113 euros to 1,134 euros. The rise of 1.9% was the result of the determination of the Code of the Securities: with the desblindagem of the statute, the CaixaBank already send out, a time that holds more than 40% of the capital of BPI. Soon, the public offer of acquisition is not voluntary; it is mandatory.

Marcelo asks bet on peace, democracy and human rights – Jornal de Negócios – Portugal

The head of State was speaking at the 25.Th Ibero-American Summit, in Cartagena de Indias, in Colombia, in the presence of the secretary-general of the United Nations designated, António Guterres, who previously also made an intervention, but that was closed to the media.

At the beginning of his speech, Marcelo Rebelo de Sousa alluded to the peace process in Colombia and said that Cartagena feels “the spirit of peace” and that “this summit takes place under this spirit, the internal and external”.

Then, he added that “peace means dialogue internal and external, that is to say tolerance, I mean respect for human rights, respect for democracy that are fundamental realities of the spirit ibero-american”.

then, you quoted António Guterres: “As I said very well the secretary-general of the United Nations, this spirit is essential in the affirmation of this community.”

the President of The Republic reinforced this message more to the front, stating that it is important to the ibero-american community “thinking in organizations” and “think employment”, but “do not forget the social justice”, nor “the civic and political participation” and “not to forget the values.”

“The youth of our community are the guarantee of our future, if they bet in peace, in democracy, the rule of law, human rights, humanism, respect of the dignity of the people”, he defended.

Marcelo Rebelo de Sousa welcomed the “pact for youth”, one of the documents of this summit, but stated that one cannot “forget the childhood”.

“at a time when 59% of the world’s population has less than 35 years, two-thirds of ibero-americans for the first time come to the university, where they have not reached their parents and grandparents, and half are women, there is a moment of turning, which is a big challenge. The challenge is to project the spirit of Cartagena in the next summits, in the future of the community”, and considered it.

in This speech, which lasted about six minutes, the President of the Republic asked the “promotion of the two languages of this community”, leaving a message to the countries of castilian language: “Portugal has done what it can to foster the most spoken language of the community, and naturally expects neighbouring countries to do the same in relation to the Portuguese.”

With António Guterres to listen to him, the head of State stressed once more his election: “I salientaria the joy that it is to the world, ibero-american, 25 years after the expiry of the mandate of Pérez de Cuéllar, to have an ibero-american secretary-general of the United Nations”.

Government desresponsabiliza mayors – Observer

The Government includes in the Budget of the State for 2017 to a standard that puts mayors and councillors at a level similar to that of members of the Government, desresponsabilizando-the financial decisions that have caused acts of financial considered illegal, says the Express. A change that is the concern the Court of Auditors.

According to what is in the Budget makes it impossible for the Court of Auditors to punish the elected representatives for acts involving ill-spent money. The exception goes to the cases in which the decision of the president or the councillor is contrary to the opinion of a lower hierarchy.

according To the same newspaper, the Court of Accounts is "worried" about the new standard and has requested the president of the Assembly of the Republic, Ferro Rodrigues, to be heard about the changes. The Left Bloc also came forward to Express that the proposal is "regrettable" and "unacceptable" which is working to propose the removal of the standard.

Faced with the question, the office of the deputy minister, Eduardo Cabrita, explains that the standard "do you want to equate the regime applicable to local mayors to the regime in force for the holders of political positions" by giving them "responsibilities identical".

Mass and funeral of Jaime Fernandes this Saturday – Daily News – Lisbon

The body of Jaime Fernandes, provider of the viewer from the RTP that died this Thursday, comes to the Church of St. John of God this Friday, at 19.00. On Saturday there will be a mass and cremation in the Cemetery of the Olive.

The funeral of Jaime Fernandes, that was three years ago provider of the viewer of the RTP and who died on Thursday, at the age of 69, runs from 19.00 this Friday, in the Church of St. John of God, in the Square London, Lisbon.

According to the information obtained from the public station, there will be a mass of the body present on Saturday at the same location, by 15.00, and the funeral ceremonies go on to say, after about half an hour, to the Cemitério dos Olivais, in Lisbon, where the body Jaime Fernandes will be cremated.

The communicator, and presenter of “the Voice of The Citizen” leaves a trail of decades in the television and radio, having accumulated only in the RTP, the positions of journalist, broadcaster, director, author of programs, the administrator and the provider. In 1994, came the founding of the Antenna 3.

The “fever” of the Web Summit – Express

The largest technology market in Europe is causing an exponential growth of posts on the part of internet users. According to the study conducted by E. Life – company market intelligence and relationship management in social networks, which is monitoring the impact that the initiative is achievement of the digital universe – from 27 September until 24 October, it has registered more than 26 thousand publications about the event. In the Face of the final analysis, which had been accounted for, from 27 September to 11 October, about 11,000 posts, it appears that the buzz in social networks has more than doubled in just 15 days.

On Twitter and Instagram, the term "meet" is the most mentioned by users, with approximately 13 thousand references, followed by "Web Summit", with more than 8,000 references. "The publications continue to assume mostly a positive connotation, being conducted in multiple languages", analyzes the E. Life.

"#WebSummit2016 : 15 #start-up sélectionnées pour être présentes sur le #PavillonFrance #BusinessFrance", "Here we come – Lisbon – #Websummit2016. Looking forward to hearing @AnastasiaAshley speak" or "@IPNunes: Wizdee among the 32 startups in the running for a prize in the PITCH of the Web Summit. #accelerator #websummit2016" are some of the comments that demonstrate the enthusiasm of internet users in relation to the event.

Already on the Facebook, considering only the official channel of the event at the global level, "Lisbon" remains the term that takes on greater prominence. "Very happy to be in Lisbon!", “Looking forward to the Web Summit! Lisbon 2016! Chonchol Gupta", "Anxious! Lisbon is ready," or, "I can help in one of those Marketing Pub Crawls and show Lisbon to everyone who its keen to join" are some of the posts identified by E. Life.

In the analysis of the three social networks, one of the top hashtags is #websummit with over 17 thousand references, followed by #startups with more than 12 thousand and #lisbon with about 11,500 citations.

it is recalled that there are already more than 50 thousand participants confirmed. And according to a survey of the Association of Hoteliers of Portugal (AHP), held in September, the hotels of Lisbon provide for the days of the conference, based on bookings already made, to reach an average occupation of 85% and daily to 163 euros, the double of the average price in November last year (73 euros).

French, british, Portuguese and Spanish lead, in this order, the booking of hotels for the event.

altogether, there are 164 countries that will mark a presence at the event, the largest contingent comes from the United Kingdom, followed by Germany, Ireland and the United States.

it is Estimated that the immediate economic impact of the Web Summit, including hotels, taxis and restaurants, to reach 200 million euros.

Tickets for talks from Web Summit amounted to 1245 euros – RTP

Marina de Castro – Antena 1 Oct 28, 2016, 09:39 / updated on 28 Oct, 2016, 14:24 | Technology

Seventy percent of the volunteers are college students. The other 30 percent are people who are working. There are many Portuguese, but also young foreigners who do not want to miss the opportunity.

The Web Summit, said goodbye to Dublin last year and it was there that they were two young people in portugal: at the time university students, now working, shared it with the Antenna 1 the experience of having participated in a global conference.

The volunteer program of this event exists since 2014 and is replicated in several conferences organized by the team WS: Collision in New Orleans, RISE in Hong Kong or MoneyConf in Madrid.

the ages of The volunteers, coming from more than 80 countries, ranging between 18 and 60 years old.
Tickets go up this Friday
The cheapest ticket for the conference technology, which now costs 840 euros, only for the area of the display, will pass to thousand euros. The tickets that let you attend lectures in the 15 stages will have the prices increased from 898 to 1245 euros.

those Who want to have VIP access you will need to spend 5250 euro.

Web Summit: There are more than 6 thousand tickets just 9€ – JournalOleme

The Web Summit is a global conference technology that will take place this year in Lisbon (and in the following two years), where they are awaited in the edition of 2016 more than 50,000 participants from more than 150 countries, including more than 20,000 companies, up to 7,000 presidents, executives and 2,000 international journalists. The Government announced on Wednesday a campaign to give entries a day for one of the biggest summits of the technological world.

the effects of The Web Summit that Lisbon will receive from 8 to 10 November is already apparent in the hotel industry of the capital and the units of the Heritage hotel chain are no exception, with Luís Alves de Sousa to say that “some hotels in the effects until they came quite early“.

The volunteer program of this event exists since 2014 and is replicated in several conferences organized by the team WS: Collision in New Orleans, RISE in Hong Kong or MoneyConf in Madrid.

The Metro of Lisbon also strengthens the service at major stations of access to Meo Arena and the FIL and will have outstanding permanent train of six carriages on the red line. the These entries will be only valid for one day. The winners will be given a code to purchase your tickets on the 1st of November. The process has to be done in the space of 24 hours, otherwise, it is without effect.

“I’ve Met many young people who have lost the opportunity to volunteer at the event and simply had no way to pay 900 euros to participate in the Web Summit”.

The 15 hotels that have joined the Web Summit to host this huge wave of visitors have already reached the maximum capacity.

Profit of the Company suffered from the impact of 80 ME with the fall in the price of oil – TVI24

The strong decline of oil prices throughout this year, the pair of drops in refining margins, undermining the net result of Galp Energia in about 80 million euros, has emphasized today the president of the oil company.

“The precipitous drop in the price of Brent oil and the fall of the refining margins had a huge impact” on the results of the first nine months of the year, Galp said Carlos Gomes da Silva, in a meeting with journalists in Lisbon.

The Company today presented the accounts for the period between January and September, with profit falling 26% year-on-year to 361 million euros.

Still, “the increase in production, particularly in Brazil, allowed us to limit the effects of the fall of Brent crude and refining margins,” said the leader of the Company, adding that, in parallel, “the focus on distribution activities mitigates the adverse effect of a fall in refining margins”.

“There is an improvement in the development of the activity, but the impact of the scenario [of the moment] led to the fall of the results,” underlined Gomes da Silva.

Still, the officer pointed out that “the conditions are with prospects to improve”, pointing to some seasonal effects, such as the hurricane season in the United States (US), that force the stopping of the oil refineries of the country, and hence leads to a rise in sales of Galp to the largest economy in the world, as well as the fact that at this time of year, the temperatures are starting to drop significantly in the northern hemisphere, there is a significant rise in the demand for diesel.

Galp answers extraordinary contribution of the energy sector

Galp Energia maintains its position of disagreement as to the payment of the extraordinary contribution over the energy sector, which has already motivated his appeal to Justice, and will not liquidate the funds envisaged in the State Budget for 2017.

“We will maintain our position. We disagree with this tax, because we believe that it violates the rules for the taxation of companies”, said the president of the oil company.

Thus, according to Gomes da Silva, the strategy of Galp passes by to provide warranty on this contribution, but does not settle it, as it has done since 2014, the first year that was impacted by this tax extraordinary, while waiting for a court decision on the matter.

“Is a fee that was supposed to be transient but, as shown in the State Budget for 2017 (OE2017), already goes to the fourth year of its existence,” said the manager.

“it Concerns us because it is one more year that we have to endure” this extraordinary contribution, strengthened Gomes da Silva.

Asked about the weight that this tax, that fee was 0.85% of the assets of the energy companies of portugal, has about the results of Galp, the officer pointed to a budget of around 25 million euros a year.

The Company is expected to contribute up to 2017 with € 50 million per year to lower the costs of the system.

Galp will have six new oil platforms

Galp Energia will have four more oil platforms in Brazil and two more platforms in Angola in activity until the end of 2018.

“In the next two years we will by so many units to work as in the last five years”, highlighted the responsible at a meeting with journalists in Lisbon, the purpose of the presentation of the accounts for the first nine months of the year, revealing that parts of these platforms are to be built in Brazil, South Korea and Thailand.

in Addition to the new platforms FPSO – used to extract the oil from the bottom of the sea -, the Company is also enhancing the capacity already installed, with the goal of reaching a production of 100 thousand barrels per day in 2017, pointing to the “solid execution of development projects” in Brazil and in Angola.

The agreement between TAP and Brussels Airlines prejudice “the interests of passengers” – the guardian

In question is an agreement of code-sharing signed between TAP and Brussels Airlines in 2009. The European Commission has already informed the two airlines of the preliminary conclusions. Brussels has doubts about the understanding.

To the commissioner in charge of competition, Margrethe Vestager, “the code-sharing between airlines can benefit passengers by providing greater network coverage and better connections. However, we are concerned that, in this specific case, Brussels Airlines and TAP Portugal may have used the sharing of codes to restrict competition and harm the interests of passengers on the route Brussels-Lisbon”.

The research of the European Commission, began in 2011, three years after the start of the agreement. This is not yet a final decision, but the commission has any questions in relation to the first three years of the understanding.

Reacting to this information, the TAP further clarifies that this communication is a mere step procedural through which the commission informs the airline about the concerns that you identified”.

Through a press release, the TAP is still to know that you have “two months to present its position to the Commission that you may choose to archive the process or give you continued.”

the spokesman of The commissioner for Competition, Ricardo Cardoso, in statements to the TSF, says that this practice is common in the businesses of commercial aviation, but the agreement between the two companies is harmful to the interests of passengers.

Ricardo Cardoso explains that the agreement between TAP and Brussels Airlines is injurious to the Ricardo Cardoso explains how he will conduct the process from here

Ricardo Cardoso says that, at this stage, there is still no place for the fines. Companies will, from today, two months to submit a response to the Commission.

Lisbon with over 15 thousand cars a day in two years – Jornal de Negócios – Portugal

The city of Lisbon has received in the last two years, 15 thousand new cars per day. The number is enhanced by the edition of this Friday, October 28, of the Daily News.

“we Have enrolled in Lisbon 160 thousand vehicles, and come in Lisbon about 360 thousand,” said councilman Manuel Salgado to the publication. This shows that two in every three cars arrive from out of town.

The past two years run counter to the trend break in the number of cars entering Lisbon, which had been observed since 2003. For Manuel Salgado, the current numbers are “unsustainable”.

The municipality expects to mitigate the problem to take over the management of the Rails in the next year, with the completion of the works that will limit circulation routes for cars, and with the creation of car parks in the vicinity of metro stations.