Sunday, May 31, 2015

More than 200,000 Portuguese have already delivered the attachment to the SS … – OJE

The Minister of Employment and Social Security, Pedro Mota Soares, today announced that 200,000 Portuguese have already made the delivery of the Annex SS tax return.

According to him missing only two percent of taxpayers covered by the measure, to make the delivery of such statement.

“This statement is important to protect themselves self-employed workers, which will help simplify people’s lives, and in many cases help give more rights to workers and more protection in case of unemployment, “he said.

Pedro Mota Soares also put forward that although a 2013 measure, there was always” caution “not to raise fines on workers.

“What makes sense is to present the same declaration into a single entity, which is a positive change for the workers by simplifying bureaucracy taken in this regard against the state”, he said.

The law provides for fines (light administrative offense) to 250 euros for non-submission of Annex SS.

The Government has no doubt that the measure “is simplification” for citizens covered by this Law .

The explanations of the Minister of Employment and Social Security, were made on the sidelines of a visit to Residential Structure St. John Basista in Mogadouro, in Bragança district.

Workers Green accumulate receipts with activity on behalf of others have since 2014 complete Annex SS when they deliver the tax return, but Social Security has not yet applied fines to those who do not presented.

In 2013 this obligation does existed, and Social Security published on its website – the last day of May of that year – a clarification expressly excluded from this requirement the self-employed who earn independent activity with occupation for others and that, by that activity, make them It has been granted exemption, since they are covered by other mandatory social protection regime. The same information that clarified the self-employed were also excluded who has never reached efficiency greater than 2,515.32 euros (six times the Social Support Indexation).

The delivery obligation set out in Annex to these SS workers arose in the State Budget Law for 2014, but was only the subject of a clarification of the Social Security this year, on May 7, a week after starting the IRS deadline for self-employed.

Pedro Mota Soares, while leader of the CDS-PP, did not comment on the possible candidacy of Rui Rio for the presidency of the Republic, during the municipal district convention promoted by the PSD and CDS / PP Bragança, justifying the party’s focus is currently in the legislative elections.

OJE / Lusa



IRS delivery of independent workers expires this … – The Ball


                         Barcelona is the king of the King of Cups – Barcelona won tonight at Camp Nou, the 27th King’s Cup of its rich history, by winning at home, literally, the Ath. Bilbao 3-1.
 Messi, for (not) change, was the man of the match, scoring two of the three goals of the Catalans – Neymar signed the second.



Attention: IRS delivery to deadline ends today – the Minute News

The self-employed or who earn income from different categories have until the end of today to deliver the IRS statements referring to last year through the Portal of Finance.

After completion of the delivery phase of IRS returns for workers with employment income (category A) and pensions (category H), the deadline for filing returns for self-employed (category B) or accumulate income of different categories ends today.

According to information from the Tax and Customs Authority (TA) until Friday had been submitted more than 4.7 million IRS returns, value, two days late the term is slightly below the total of nearly 5.1 million IRS declarations delivered in 2014.

The numbers of AT realize that this total delivered about 3.3 million returns were submitted in the first phase, ie, are for workers with dependent income and pensioners, and the remaining 1.4 million statements were delivered in the second phase -. which ends today

On Friday, AT had already carried nearly 110,000 IRS settlements, and, according to the Ministry of Finance, the IRS refund began to be made April 22.

Workers accumulate green receipts by activity behalf of others have since 2014 to fill the ‘Annex SS’ (Social Security) when they deliver the tax return.

Saturday, the minister Mota Soares, speaking in Mogadouro on the sidelines of a visit to social structures said that 200,000 Portuguese had already made the delivery of the ‘Annex SS’ of the tax return.

According to him missing only two percent of taxpayers covered by the measure, to make the delivery of this type of statement.

The delivery obligation set out in Annex SS for these workers appeared in the State Budget Law for 2014, but was only the subject of a clarification of the Social Security this year, on May 7, a week after starting the IRS deadline for self-employed by the Finance Portal.

The law provides for fines (light administrative offense) to 250 euros for non-submission of ‘Annex SS’, but the security so far Social did not impose a fine and the Minister of Social Security made it clear that there has been this “caution” not to raise fines to taxpayers.


Saturday, May 30, 2015

Delay delivery of the Annex SS tax return will not fine – Daily News – Lisbon

The Minister of Employment and Social Security, Pedro Mota Soares, today announced that 200,000 Portuguese have already made the delivery of the Annex SS tax return.

According to him missing only two percent of taxpayers covered by the measure, to make the delivery of such statement.

“This statement is important to protect themselves self-employed workers, which will help simplify people’s lives, and in many cases help give more rights to workers and more protection in case of unemployment, “he said.

Pedro Mota Soares also put forward that despite being a measure of 2013, there have always been” cautious “not to raise fines on workers.

“What makes sense is to present the same declaration into a single entity, which is a positive change for the workers by simplifying bureaucracy taken in this regard against the state, “ emphasized.


Two hundred thousand Portuguese have already delivered the Annex Security … – The Ball


                         “It would be no surprise if we won” – Sérgio Conceição – Sérgio Conceição, SC Braga coach, was the first to predict the end of the Cup of Portugal, tomorrow, at the National Stadium against Sporting (17. 15 hours).
 For Braga coach the last game with Lions (4-1 loss), does not reflect the difference between the teams.
 “All games are different. This coincided with the final stages we lost some points due to penalties and injuries. There was a certain relaxation unconscious but there is no big difference between the teams. We would not be surprised if we won. We have proved this season that we can beat anyone. Won the champion for the Cup, we won at home to the 6th classified, 7-1, “recalled Sérgio Conceição, for whom the final will be divided.
 “50 percent for each side. In a final anything can happen, “added the coach, 40 years after the team’s training at the Estadio Pina Manique, behind closed doors.
 “It’s a final that will decide the details. But the players are with a very great ambition and motivation. They are aware that we can make history. We have a competitive team as we have always been, aggressive in a good way. We know the DNA Sporting, know their strengths and weaknesses as they also know our ‘became the arsenalista coach.



Efromovich without “substantial changes” in its proposal – Express

It is with “great concern” that Germán Efromovich see the “complete deterioration” of TAP in recent months. Entrepreneur team source point to Expresso that the proposal “hardly” will be improved. Concerned, says the same source, are beyond the short and medium term debt, about € 100 million in revenues that continue to be held in Venezuela and Angola, the effects of the strike that pilots met in May and which cost € 35 million to the airline, but also the various promotional campaigns to destinations such as Brazil and Africa that TAP has promoted ever since. “We have deepened our ability to sell over the internet which is a sales channel that enables immediate results,” confirms an official source TAP. But reading the team of Efromovich makes these sales is that aim to solve the short-term cash flow problems, but that will have consequences in the future. They count as income now, but it will cost later distinction to the same source.

Another “issue” that is contributing to the “seizure” of Efromovich regard to the contract that TAP has established with respect to ANA Duty Free Shops. The team’s manager is concerned that the airport managing not renew the contract, which is valid until 2020 and that this represents losses for the TAP in the future. Company official sources detailing the turnover of the Duty Free Shops in 2014 was € 180 million, with a benefit for TAP (management fees, dividends and onboard sales) of € 8.85 million.

For these reasons, are not so predictable “substantial changes” in the final offer that Germán Efromovich come due by June 5, the date that the Government set for submission of tenders binding “improved and final” by candidates to the purchase of the Portuguese airline, ended the stage of negotiations provided for in the privatization tender documents. In the race are SAGEF (Synergy Group – Germán Efromovich) and Gateway (DGN, David Neeleman, and HPGB, Humberto Pedrosa, president of Barraqueiro). Contacted, the Neeleman team does not comment on the adjustments that will make your offer.

disponívelpara Banking negotiate debt
Miguel Pais do Amaral, who was excluded from the privatization process, said this week in an interview with “Business Journal” that considers “highly likely” that the state has to assume part of the debt of the Portuguese airline for the company to be sold. Late last year, the bank debt TAP amounted to € 646.7 million, of which € 515.9 million with payment due within one year. And the Express learns from nearby sources of the process, some € 400 million of debt maturing TAP until the new buyer to take possession, that is, before the last quarter of the year. The debt liability will remain in the company, according to the same sources. But soon after the buyer’s choice – decision that the Government intends to take until mid-June – there will be a renegotiation with banks in order to extend debt maturities. In the process, should be the TAP, the state (through Parpública) and the prospective purchaser (even before taking office). From the moment the new owner of TAP is chosen, knowing the investment plan, operational and management capabilities they bring to the company, the banks now will be able to negotiate. Some, indeed, have already expressed their availability to the government.

propostasem discussion
In its proposal on 15 May, Neeleman proposes a capital increase between € 300 million and € 350 million and an investment in the fleet with the purchase of 53 aircraft (which will have to order), especially long-haul. The offer provides for the strengthening of links within Brazil (to feed the transatlantic flights) and more flights from Lisbon to other destinations in the United States, as well as the sharing of 10% of the dividends to workers as it does in the Brazilian Blue or US JetBlue (another low-cost carrier founded by Neeleman).

Efromovich competes for the second time the purchase of TAP. After almost have been 100% of the group in 2012 – was not for lack of guarantees – Germán Efromovich now offers an injection of about € 250 million in “new money” (of which € 150 million to € 180 million to capitalize on immediately) and € 100 million in “kind” – 12 new aircraft that Avianca is already available for TAP operate: six A330 (long course) and six A320 (high school). Still promises fleet renewal Portugália (PGA), and in all plans to add 38 aircraft to the TAP group and to ensure the arrival of the Airbus A350 12 that the company has anticipated receiving from 2017 (ie 50 aircraft in total) . The strategic plan presented are part of the development of relations TAP with Latin and South America and the United States as well as the profitability of the Beja airport as a logistics center group load, with synergies with the port of Sines, turning one a load infrastructure group hub (TAP and Avianca) for Europe. Efromovich still promises the distribution of dividends (from 10% to 20%) by the workers.


Injured BES manifest in Paris. Desperate, announce … – Express

The peaceful, affluent residents of the Avenue Georges Mandel, the very chic block from the Trocadero, in the district number 16 of Paris, had never awakened with a start size at the time of breakfast.

At nine in the morning (8 am in Lisbon), 250 Portuguese emigrants manifested itself with several loud megaphones at the door of Paris delegation of Novo Banco this avenue, which still figures on a board, the former name – BESV Banco Espírito Santo et de la Vénétie. The delegation, usually open on Saturdays, was closed.

French police held without major problems the peaceful demonstration in which many dozens of people showed violent posters, French and Portuguese against what they called “theft” committed by “corrupt” and “thieves” with “the support of the Government and Carlos Costa (Governor of the Bank of Portugal).”

Many of those present spoke to journalists totally desperate. “They robbed us all of our economies, me and my husband, had everything in BES, 350,000 euros,” said a lady. “If my money does not give me, I come here and explode with a bottle of gas,” added a man. A man said, the megaphone: “to bring the next picks and left it all.”

Many of the protesters had about 60 years or more. All say they were misled by employees of BES. “They called me from Braga, advised me to take all of the savings account to put something else claiming to be as safe as this and that yielded more: I put there all the money and even an apartment that was sold, it was all done by phone, “he had a renovated room.

The individual stories of the protesters are all poignant and, as regards its relationship with BES, very similar – the vast majority said to have been invited by telephone to invest in new banking products, with the guaranteed employee “they are as safe as the time deposits”. All also have identical paths in emigration – most have 40/50 years of residence in France. “We saved all their lives, fartámo us to work and save, we live and we worked hard for this!” Exclaimed a gate 59.

The words on posters, were strong, similar to what was heard through megaphones: “thieves,” “swindlers”, “fascists” … A group shouted: “The people, united, will never be won “. One of the posters read: “We sent our economies for the development of our country and were robbed.”

” I left there at age seven with my parents, in misery, we live here the first time in more the miseries and with great sacrifices, worked hard, went out of misery, now we had saved some dinheirito and robbed us all. I’m willing to do anything to get my money back, do not want to go back to being poor, “said Maria Adelina, 59, a native of Leiria.

Amelia Reis, main organizer of this concentration in Paris, former loves family the Holy Spirit, with which worked between 14 and 18, ensuring that the protest movement will continue: “The next manifestation It will be June 27 and we will march from here to the embassy – only stopped when they give us our money. ”

According to banking sources contacted by Express, four thousand emigrants in France say they are injured BES. In total, they invested about 400 million euros. Worldwide, will be the eight thousand injured migrants, with global investments of around 800 million euros.


GDP retreat was expected, says governing coalition; blames opposition –

After the Brazilian Institute of Geography and Statistics (IBGE) release on Friday (29) that the Brazilian economy fell by 0.2% in the first quarter of 2015 compared to the last three months of 2014 parliamentary opposition accused President Dilma Rousseff have broken the country to win the election. Members of the governing coalition, however, say the result was expected because of the country’s economic time.

The economic downturn was driven by the negative performance of the services and industry sector as well as the retreat household consumption and investment. Early this year, which prevented an even greater fall in GDP was agriculture, according to IBGE data.

For the leader of the DEM in the House, Mendonça Filho (PE), the result of GDP shows a scene of “scorched earth” in the Brazilian economy. The opposition said that Dilma was “irresponsible” for the GDP fall because of decisions made during the election period.

“The population pays the government’s irresponsibility account Dilma to win the election, which threw the country a recession with high inflation and rising unemployment, “said Mendonça Filho.

” The situation is quite difficult. Brazil will take months to begin to recover if the government does the right thing, “he added .

PT leader in the House, Rep Sibá Machado (AC) said the result was within the expected, as the government goes through an adjustment of public accounts. “To grow, GDP needs the investment recovery. By the time the investment resume, GDP grows back,” he emphasized.

In Sibá Machado’s view, for now the remedy that the government used to try to revive the economy is in “processing”, referring to the fiscal adjustment measures recently approved by Congress. “The positive signal for the economy now,” assessed the PT.

The leader of the DEM in the Senate, Ronaldo Caiado (GO), also blamed Dilma management as guilty by negative GDP in the quarter . He said the president “used the machinery of government irresponsibly during the election campaign.”

“She wildly expanded spending to make up the country, saying that all was well. [...] Now , the country is simply paying to meet the will of one party and a president to stay in power, “shot Caiado.

The government leader in the House, Mr José Guimarães (PT-CE) said the result is “a great victory”, since, according to him, the opposition “touted” a far worse result than advertised.

“It’s a good size. The result makes clear that we are with control of the situation, President Dilma is holding the wave and fiscal adjustment measures will help to recover once our economy, “opined Guimarães.

” In Brazil, built a common sense say always ‘will fall, will fall,’ and when is a better result than propagandearam, the opposition even make a self-criticism. “


BES: Citigroup gets 2% of the ‘bad bank’ – TVI24

Citigroup acquired 3,753,415 securities of Banco Espírito Santo (BES), the so-called ‘bad bank’ following the intervention of the Bank of Portugal in the former BES, a business conducted outside the regulated market. The announcement was made on Friday by the Portuguese entity.

“The acquisition resulted from a transaction that occurred on May 21, 2015,” reads the statement which is available on the Securities Market Commission (CMVM), which specifies that the business was conducted by a Citigroup subsidiary the Citigroup Global Markets Limited.

After this operation, whose identity of the seller is unknown, the US entity now holds an overall position of 113,262,901 shares of BES, to which is added ‘swap’ contracts, corresponding to a share qualified joint of 2.0137%.


Retail trade accelerates in April – Jornal de Negócios – Portugal

The turnover index in retail trade recorded an annual increase of 3.5% in April, which represents an increase compared to 1.8% in March. The employment index in retail trade kept year growth seen in March.

The turnover index in retail trade accelerated in April. According to data released this Friday, May 29, the National Statistics Institute (INE) this indicator registered an annual rise of 3.5% in the fourth month of 2015, representing an increase of 1.7 points percentage compared to March.

According explains the statistics office, this behavior “reflected the evolution of the indexes of both groups, food and non-food products, which had positive annual changes in April 0.7 % and 5.7%. “

Already employment in retail trade remained April the same year change that in March, ie 1.2%.

” The salaries index in retail trade recorded an annual increase of 3.1% (range 3.3% in March), “the INE.

On the other hand,” the annual change volume work in retail trade, measured by hours worked index adjusted for calendar effects, was 0.1% in April (range, 1.8% in the previous month). “


Friday, May 29, 2015

Citigroup holds qualifying holding in the BES bad – Jornal de Negócios – Portugal

The US bank acquired 3.7 million shares of BES on 21 May. Gets more than 2% of the bank’s capital led by Máximo dos Santos.

Citigroup now holds a qualified holding in BES. The bank now holds 2.0137% of the voting rights and share capital of BES bad.

It was on May 21 that Citigroup Global Markets Limited acquired 3753.415 BES shares, announced the bank led by Louis Maximum dos Santos this Friday, May 29th.

This is the second acquisition of qualifying holdings since the BES has undergone a measure of resolution to August 3. The first took place in November when Morgan Stanley acquired 31.4 million shares and now holds 2.11% of BES ‘capital.

Despite the negotiation of BES in Lisbon stock be suspended from 1 August is still possible to trade securities in direct business, outside the regulated market.

After its bankruptcy, BES was divided into two institutions. Healthy assets and liabilities came to the New Bank, a total of EUR 64 billion. Already the toxic assets and liabilities were in BES, a total of one billion euros.

So it was in bad BES who were active as deposits of directors of the bank, claims against the companies of Grupo Espírito Santo (GES) and the loan from Goldman Sachs to BES. In addition, the bank also was with international operations such as BES Angola, Espirito Santo Bank in Miami, in the United States, or the Aman Bank of Libya.

But some of these assets are no longer BES bad. One is the BES Angola now for the balance of good BES:. New Bank

Also the Libyan bank Aman Bank left the BES sphere, to be sold in early March by 3.9 million euros to Freslake Limited after being acquired by 38 million in 2009.

Also the Miami bank is no longer in balance BES. It was sold to Benacerraf Group of Venezuela. The sale of Espirito Santo Bank was closed for 10 million euros in March.

It is currently running the third stage of the New Bank sales process until the end of June. This is the end date for those interested in Novo Banco deliver a final offer to purchase and the sale of the entity should be completed this summer. There are currently five entities in the third stage of the competition:. Santander, Apollo, Fosun, Anbang Insurance and Cerberus

(updated news to 16:33)


Compal production in Angola starts in the third quarter – publico






The Sumol + Compal prepares to kick-start production Compal juices in Angola in the third quarter, and Sumol at the end of the year. The Portuguese company has invested 9.3 million euros between January and March, the vast majority in the new production plant and packaging of juices, nectars and soft drinks in what is its main customer out of Portugal.


                         “The conversion work of the industrial unit of Bom Jesus on the outskirts of Luanda, are progressing according to plan and it is expected the start of local production of Compal in the third quarter of this year and Sumol later this year,” reads If the statement that Sumol + Compal submitted, on Friday, the Securities Market Commission (CMVM).

At the end of last year, the Copagef, group company Castel, capital French and shareholder of the Angolan beer Cuca, bought 49.9% stake in Sumol + Compal Brands by 88.2 million euros. The group Castel is one of the largest producers of beer and soft drinks and the second largest in Africa (it has a dominant share in the Company’s Beers Union of Angola, owner of Cuca) and, with the new shareholder, the Portuguese company plans to expand business on the continent.

“The effort in the geographical diversification of markets has given positive signs, particularly in Africa, capitalizing on the strong presence that Copagef (new partner in the shareholder structure of Sumol + Compal Marks) has in these markets , a trend that is expected to see consolidated during the year, “said the statement.

Between January and March, the Sumol + Compal had profits of a million euros, compared to 1.1 million losses in the same period of 2014. Total sales amounted to 71.5 million euros, up 19% over the first quarter last year, reflecting the growth in turnover of around 11.2% in Portugal (46.7 million euros ) and 37% in foreign markets (EUR 24.8 million).

It is expected to continue to increase sales outside of Portugal but developments in Angola may be “conditioned by the possible introduction of import quotas high rotation drinks and the shortage of foreign exchange. ” Building a local factory is therefore important for the Portuguese company ensure production and supply to its main client.



Portuguese economy grows 1.5% in first quarter 2015 – Daily News – Lisbon

The Portuguese economy grew 1.5% in the first quarter of 2015, according to the National Statistics Institute.

About two weeks ago, the INE divulged the flash estimate of the National Accounts for the first quarter 2015 advancing the Gross Domestic Product (GDP) had grown 1.4% YoY and 0.4% against the previous quarter.

Compared to the previous quarter, GDP increased 0.4% real terms, with the positive contribution of domestic demand and the negative net external demand.


Injured BES identify responsible bank accompanied … – Daily News – Lisbon

Several injured with the purchase of commercial paper from the GES today accompanied by police entered the premises of the New Bank in Lisbon, to identify those responsible for the BES who want to accuse aggravated fraud in court.

groups of three, fulfilling the police order, the injured began at 12.30 hours the identification of managers, deputies and agency directors, regional directors and area directors who directly or indirectly been involved in the placement of commercial paper of the Holy Spirit Group (GES) in the retail network.

“Customers who have been circumvented entered the bank to identify those responsible against those who will bring a lawsuit for aggravated fraud”, he told the Lusa agency Pedro Martins, one of the injured with the purchase of commercial paper to the BES counters.

The identification of those responsible for the bank against whom the injured parties want to bring actions already began last week in Lisbon and in some northern areas of the country, according to Pedro Martins, who also said that the goal is to prove in court that the commercial paper was sold as a safe product.

“Some customers have evidence, including documents that show that the product was sold by the bank as not taking risk, “said Pedro Martins.


Government maintains tight rules on auditing of companies – Digital Journal

 Tighter supervision and new rules for audit firms were today defended by the Finance Minister in Parliament, but the vote was postponed to next week for not having completed the debate.

The draft of the Government bill, which intends to approve the legal regime of audit supervision and the statutory audit of annual accounts and consolidated accounts of companies, it was rated by Maria Luís Albuquerque as ” a significant step in strengthening financial stability, “contributing to a” special regime more demanding and specific inspection rules for the activity “of financial institutions.

One of the most significant amendments proposed by the Government is the delivery of supervision over the auditors to the Portuguese Securities Market Commission (CMVM), and “quality control passes to be done” by the institution led by Carlos Tavares.

Among the points highlighted by Finance Minister says the maximum limit of ten years for an audit remains with a client, forcing a turnover and limiting the provision of non-audit services if any conflict of interest.

Although Maria Luís Albuquerque have noticed that the proposal “introduces higher penalties,” the opposition was not satisfied with the intentions of the executive, considering it could have gone much further in the rules of conflict of interest and that, unlike introduced new rules that are not contained in Community policy.

Both PS as PCP and the Left Bloc (BE) asked why was extended to statutory exemption accounts for private companies, considered by the opposition as a sign contrary to the tightening of supervision.

The minister said that in relation to private companies there was an exemption enlargement, but on the contrary, to public limited companies tightened the mesh, being these the most covered by supervision

Digital Diary with Lusa


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Galp confirms new discovery in well in Brazil – Jornal de Negócios – Portugal

The Portuguese oil company announced on Friday the market that held drilling confirmed the oil potential and the extension to northern Carcará discovery in the Santos Basin.

Galp Energia said Friday that the drilling of the second well in Carcará area, located in deep waters in the Santos Basin in Brazil, “confirmed the light oil potential in the pre-salt reservoirs and the extent to Northern Caracara discovery. “

” The drilling confirmed the extension of good quality oil discovery in excellent quality carbonate reservoirs located below the salt layer, from 5820 meters deep, “said the perolífera in a statement.

According to Galp, after the completion of drilling, is planned to hold a training test to assess the productivity of reservoirs. “In 2015 there are plans to continue drilling the well Carcará Northwest, continuing operations provided for in the evaluation plan of the discovery (PAD)”, adds the company.

The PAD Carcará approved by the Agency National Petroleum, Natural Gas and Biofuels (ANP) is scheduled to end in March 2018.

Galp Energia, through its subsidiary Petrogal Brazil, holds a 14% stake in the consortium that explores this, fitting 66% to Petrobras (operator), 10% to the Energy of Brazil Oil and Gas Bar and 10% to Queiroz Galvao Exploration and Production.


Dollar operates falling against the real GDP of Brazil after falling 0.2% –

The dollar operates falling against the real on Friday (29), on a day of intense economic agenda, after the Gross Domestic Product (GDP) of Brazil contracting 0.2% in the first quarter 2015 compared to the previous period, better than the 0.5% decline estimated by analysts.

At about 9:30 am, the US dollar was sold at R $ 3.1518, low 0.37%. See quote

The fight for the formation of May Ptax must heightened volatility in the first half of the trading session.

On Thursday, the dollar rose 0.59%, and closed the R $ 3.1638 on sale, the highest price since April 1, when closed at R $ 3.17. In May, the dollar is up 5%, and in 2015, 18%.


Well Galp in Carcará in Brazil confirms oil potential – Express

Good news for Sonangol, Américo Amorim and other shareholders of Galp Energia. The company announced this morning before the market opens that pit Carcará North, in the Santos basin, confirms the extension of the original discovery.

In a statement, Galp reveals that “the drilling of the second well in the area of ​​Carcará, located in ultra-deep waters of the Santos Basin, confirmed the light oil potential in the pre-salt reservoirs and the extension to northern Carcará discovery “. The well is located in the area of ​​the Discovery Assessment Plan (PAD) of Caracara, about 229 km from the coast of São Paulo, 4.6 km north of the first well and to a depth of 2,072 meters.

Petroleum good quality
Drilling “proved the extent of good quality oil discovery (31 API) in carbonate reservoirs of excellent quality, located below the salt layer, from 5820 meters deep, “says Galp Energia. This well still drilling within the oil column, “reached so far 6178 meters deep and found an oil column of about 358 meters in continuous and connected reservoirs,” the statement said.

Pressure data obtained “proves it is in the same accumulation of wildcat well”. Upon completion of drilling, is planned to hold a training test to assess the productivity of reservoirs.

In 2015, it is scheduled to continue drilling the well Carcará Northwest, continuing with those foreseen in PAD operations. The Plan Carcará Discovery Assessment, is scheduled to end in March 2018.

Galp Energia, through its subsidiary Petrogal Brazil, holds a 14% stake in the consortium exploring block, led by Petrobas (operator) with 66%.


Government wants to limit internal access to data of taxpayers – publico






After identifying the major flaws in the protection of tax secrecy of taxpayers, the Tax and Customs Authority (TA) has until June 19 to map out a plan to control the access of tax officials. The government wants to pass the query to be justified and grounded for each worker. The idea is to bring the computer mechanisms of procedures for access to the E-Invoice data, the query is restricted to a smaller group of AT staff. The measure is, however, to generate confusion with the representatives of the employees, who fear that a barrier is created in access to information, especially for those who make tax inspection.


                          The guidance came from the Secretary of State for Fiscal Affairs, Paulo Nuncio in an order signed on Tuesday, the same day they were published the findings of the investigation of the Finance Inspectorate (IGF) to the case of VIP list . In its order, that the PUBLIC had access, the ruling establishes six priorities, among them, ensure that “access to personal data held by taxpayers internal users are justified and substantiated with particular reference to the procedure already adopted in the design and implementation of the E-invoice system. “

The president of the Trade Union Association of Professionals of the Tax and Customs Inspectorate (PATI), Nuno Barroso, considers it necessary to discuss the creation of different profiles on access to information tax, “according to the functions that each employee performs, regardless of race and the title that everyone has.” But it stresses that this is different from the procedure that now exists to protect access to the E-Invoice bases, the computer system, validated by the National Data Protection Authority (DPA), which contains the invoices submitted by companies (or taxpayer) .

In the order, the Secretary of State for Fiscal Affairs identifies as one of the problems to be addressed that there is no prior registration to “legitimize and justify access to data by the taxpayers about 11 thousand internal users, without the same are duly authorized, particularly for higher determination or administrative act “. The orientation of the ruler is, however, not clear as to how it should develop this control.

The president of PATI, create a system in which access must be justified will cause difficulties. “Forcing a systematic record may create some obstacles in the fast way intended to AT work. Would create, especially in inspecting careers, a barrier that would be incomprehensible to access information. ” Nuno Barroso also points out what it says is the danger of restricting the scope of employee activity. “Within the AT espoletadas were some of the most complex investigations the past two decades. These transactions were carried out with a free access. If we restrict it to small groups of people, hardly ever return to have a Hurricane operation in the country. “

What PATI proposes instead are types of computer profile but without the users need a prior record: “If I’m an inspector and secretarial service, maybe I do not need to have the same permissions as an inspector with the same title but is a research tool”

In the document, Paul. nuncio asks the managing director of TA, Helena Borges, to follow up its recommendation to the IGF that evaluate “all acts, facts and relevant statements” of employees and tax authorities of the leaders with responsibilities in case of VIP list to be considered any disciplinary procedures. The AT is also responsible for reviewing hiring external entities with access to tax authorities databases and create certification mechanism and computer audit. The action plan must respect the recommendations of the IGF and the CNDP, to which AT has to give notice of these measures by the end of September.

228 issued alerts
The president of the Union of Taxation Employees (STI), Paul Ralha, which considered the report of the IGF “is not free, nor suitable” for the fact that it would be governed by the Minister of Finance, completely rejects any restrictions system access. “This will make it impossible to control home [tax authority] to do any serious research in terms of combating fraud and tax evasion,” says Paul Ralha, adding that “there is absolutely no tradition of breach of tax secrecy, all processes which indicated wanton being filed. “

In about five months he spent working (between 29 September 2014 and 10 February this year), the system designed by AT to detect who acceded to data tax the VIP list of contributors generated 228 alerts, completed the IGF in the report that the PUBLIC consulted. The audit does not indicate, however, whether such access led to the breaking of tax secrecy. Concerns that were brought 33 disciplinary proceedings that resulted, not from warnings VIP system, but the investigations made by AT after the i newspaper had published on 26 September last year Passos Coelho tax data.




Thursday, May 28, 2015

The economic climate indicator rises to highest level since 2008 – publico





The economic climate indicator rose in May to the highest level since the same month in 2008, maintaining the upward trend started in January 2013, revealed Thursday the National Statistics Institute (INE). The evolution of the indicator (which is in 1.1 points, compared with 0.1 points in May of 2014) reflects the increase in confidence among companies in the manufacturing, construction and public works, trade and services.


                         According to INE, the confidence indicator in manufacturing increased in May due to the positive contribution of the assessments on demand, reaching the highest level since April 2008. The trust between the construction companies also recovered in May, thanks to the evolution of views on the order book (although the balance of employment expectations declined).

In trade, the confidence indicator reached the highest value since August 2011, driven by prospects of undertakings in the evolution of the activity. Similar to developments in the services sector, where the confidence indicator rose to June 2008 highs.

However, the consumer confidence indicator declined in April and May, putting a brake on ” sharp upward movement observed since the beginning of 2013, “the INE. Consumers are less pessimistic about the economic situation of the country and as unemployment in the next 12 months and more optimistic about the financial situation of their households, however, the prospects of families regarding the evolution of savings continue to be negative and to weigh the confidence indicator.

stable economic sentiment in the euro area
economic sentiment indicator (ISE) remained virtually unchanged in May both in the eurozone and in European Union (EU), according to data released today by the European Commission.
In April this indicator was stable. Thus, in May, the ISE was 103.8 points in the euro zone and 106.4 total of 28 EU countries.

In Portugal, after two consecutive months of increase, the indicator down of 106 points in April to 103.6 in May. The only improvement was seen in the industry and among consumers, having worsened confidence in the services, retail trade and construction.

As for the aggregate data of the 19 countries that share the single currency, the ESI still showed improvements in services, retail trade and construction, which was minimized by the fall in consumer confidence, which declined for the second negative month.

Among the largest economies in the euro zone, especially the progress indicator in the Netherlands (0.9), France (0.7) and Germany (0.5) and the fall in Italy (-0.4). The business climate indicator for the euro area, which in May fell slightly, 0.05 points to 0.28 was also released today. For this indicator there are no data broken down by Member State.



68% of hotels defend sale of TAP – TVI24

More than two thirds (68%) of the hotels surveyed by the Association of Portugal Hospitality (AHP) argue that TAP should be privatized, but only 8% believe that the current process will be completed successfully.

According to a survey sponsored by AHP to assess the impact of the strike by TAP pilots in the industry, 68% of respondents said that TAP should be privatized and only 21% indicated that privatization should not proceed.

“Entrepreneurs are neutral but have greater skills in private faith,” he told journalists the chairman of the executive direction of AHP, Cristina Siza Vieira, at a press conference in Lisbon.


Eni repurchase bonds convertible into shares of Galp – publico





Eni announced Thursday an offer to repurchase bonds convertible into shares of Galp. This is an issue launched in 2012 which expires in November and whose side the Italian oil company’s position in the Portuguese company:. 8% of the capital


                         At issue are EUR 1028 million, of which the Italian oil company intends to repurchase a maximum of 515 million, or about half the issue, equivalent to 4% stake in Galp. In 2012 Eni announced that the conversion price of the bonds into shares should be around 15.5 euros.

In a statement it released on Thursday, the Italian company does not explain what to do with the titles Galp underlying bonds which are repurchased (and canceled), but the market has already anticipated to be sold: the titles of Galp followed down 1.05% to 10.8 euros, in the early afternoon. The operation is potentially bad for the Galp “because it could mean that ENI is preparing to put [the market] share of the 4% stake in Galp,” explained the analysts BESI in a research note cited by Reuters.

“We assume that will start selling the first tranche of 50% as well to complete the tender offer, while the second tranche could be [sold] in November, when the rest of the bonds mature” , said BESI. They are scenarios that put pressure on the Galp, at a time when the price of oil has also penalized the sector bonds.

According to the note published by Eni, holders obligations wishing to participate in the offer must make their proposals by the end of this afternoon, with the completion of the transaction should take place on 4 June.

According to ENI, the operation is being organized by Deutsche Bank, Mediobanca, Morgan Stanley and UBS.

In March last year Eni had sold 7% stake in Galp to institutional investors, fitting with the operation around EUR 702 million.

It is also in the form of convertible bonds that materializes the position of 7% that the state still holds in Galp, via Parpública. In 2010, under the fifth phase of the company’s privatization, the holding company that manages the State’s stake in companies held a bond issue of 900 million euros, maturing in 2017, which has as collateral 58 million shares of the oil.