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MEO outperforms the competition in the electronic communications sector

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MEO bate concorrência no setor das comunicações eletrónicas

MEO is the leader in electronic communications! Electronic communications have never been as important as they are today. The future will depend even more on these technologies, and, naturally, everything will evolve.

Altice Portugal today released data for the first half of 2021, which demonstrates its consolidated market leadership in the electronic communications sector thanks to the MEO brand.

The latest reports from ANACOM regarding electronic communications services in the 1st half of 2021 reaffirm the clear leadership of MEO, the Altice Portugal brand, in all communications services in Portugal.

MEO - Market share of services

According to published data, MEO recorded the following market share in the 1st half of 2021:

  • Pay TV (40.4%);
  • Fixed telephony (42.0%);
  • Mobile services (44.5%);
  • Fixed broadband (38.9%);
  • Service packages (40.8%).

MEO continues to hold the lead in fixed telephony (42.0%); in mobile services (44.5%); in the fixed broadband network (38.9%) and in service packages (40.8%).

MEO outperforms the competition in the electronic communications sector

Market leadership is joined by leadership as operator with fewer complaints... According to the industry regulator, MEO is the operator with the lowest number of complaints per 1,000 customers. In the 2nd quarter of 2021, MEO had the lowest level of complaints (1.1 per thousand customers), as well as the operator with the largest decrease in complaints (-14%).

Along with the residential segment, the business segment is also strengthening its leadership. In the youth segment, MOCHE is uniquely positioned in the market for its irreverence and diverse offering of products and services. In digital technology, SAPO, which has won the trust of Internet users for 26 years, maintains its undisputed leadership as the portal of choice for the Portuguese.

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Economy

Shipyards: “98% of the workers in the best welding company in the Netherlands are Portuguese” – Industry

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Shipyards: "98% of the workers in the best welding company in the Netherlands are Portuguese" - Industry

“What saddens me is that in the best welding company in the Netherlands, 98% of its workers are Portuguese. And we are discussing that we have a shortage of skilled labor, ”said Jorge Martins, founder of Neptune Devotion. with naval shipyards in Aveiro.

Jorge Martins, who stepped down as CEO of multinational consulting and technology company Capgemini Portugal almost four years ago to devote himself to customizing pleasure or sports boats up to 55 feet in length, spoke in a debate about the present and future of the national economy. naval industry, as part of Porto Maritime Week, an initiative promoted by Transportes & Negócios and continuing until tomorrow in the city of Invicta.

With the Portuguese shipbuilding industry recording a 26% increase in turnover in 2020 over the previous year, to around € 250 million, the sector is facing some pressing challenges such as “a shortage of skilled labor, an aging workforce and manufacturing infrastructure. , outdated regulations and the impact of environmental concerns, competition from countries with low production costs and unfair international competition rules, ”said Transportes & Negócios.

“The major challenges for us are the shortage of skilled labor, some of the contextual costs we continue to experience, and the rising cost of raw materials, mainly due to the disruptions that occur in the shipping sector,” Francisco said. Barbosa, CEO of Navaltagus, the shipyards of the ETE group, to which Navalrocha also belongs.

“We are looking for new market niches to reorient ourselves and grow, but we know the competition is fierce, especially in shipbuilding, with competition from Turkish shipyards, which have a much cheaper skilled workforce,” said the same manager. …

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Luis Braga, commercial director of Lisnave, also noted that the main difficulties facing the Portuguese company are related to the lack of qualified labor and competition from shipyards that can offer lower prices.

“Lisnav is losing the most repairs in Turkey. But there is another type of competition that is not talked about so much. Nowadays Lisnav may be the one to train the more skilled workforce in the country and then the people who are certified. emigrate to places where they are better paid, namely the Netherlands. We try to keep more qualified people in the field of training and hiring, preferably the Portuguese, but the truth is that for the 20 people that have formed, we managed to keep only one, ”he complained.

“Most clients choose only the cheapest solution, so they choose shipyards in the Middle East, for example, in Turkey,” he concluded.

“We have the same problem as Lisnave in terms of training technical personnel,” said Vitor Figueiredo, administrator of West Sea, the company that embodies the Martifer naval industry.

“But it’s not just a matter of remuneration — there are other factors, such as career advancement,” Figueiredo said.

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One of the largest shareholders of Evergrande wants to sell. Stocks Soar 32% – Markets

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One of the largest shareholders of Evergrande wants to sell.  Stocks Soar 32% - Markets

Real estate investment company Chinese Estates, the main shareholder of the Evergrande group, has announced plans to sell its stake in the company due to its current weak financial position.

In a statement to the Hong Kong Stock Exchange, Chinese Estates clarified that the board is “concerned” about the latest liquidity information provided by Evergrande and “the potential impact” if the announced remedial action “fails to be applied effectively.”

Chinese Estates is one of the leading corporate investors in Evergrande. At the end of last month, its participation was 5.66%. Since then, it has sold approximately 109 million shares, representing about 0.82% of its stake in Evergrande, for a total of HK $ 246.5 million (€ 27.1 million). After consultation with shareholders, the company has a maximum of 12 months to sell the remainder of its stake.

Evergrande shares have depreciated about 80% since the beginning of the year. In Hong Kong Thursday, bonds soared 32%, the largest daily gain since going public in November 2009, as investors focused on paying off one debt rather than a shareholder position.

If it manages to sell its entire stake in Evergrande, Chinese Estates estimates a loss of HK $ 9,486 million (€ 1,041 million) this year. Evergrande, considered the largest real estate company in the world, is facing serious liquidity problems and is at risk of insolvency.

This Thursday is a pivotal day for the group, as an additional $ 47.5 million will be added on the 29th to maturity of about $ 84 million, which is in line with the interest rate on some of the dollar-denominated bonds.

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Fed Supports Interest Rates and Signals Ending Stimulus Coming Soon – Monetary Policy

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Fed Supports Interest Rates and Signals Ending Stimulus Coming Soon - Monetary Policy

The US Federal Reserve System, led by Jerome Powell (pictured), as expected, kept its key interest rate in the range of 0% to 0.25%.

In addition, it was decided to maintain the current rate of asset purchases at a level equivalent to USD 120 billion per month. These amounts are split each month into $ 80 billion in Treasury bonds and $ 40 billion in mortgage-backed securities.

Nevertheless, signaled what was expected of the “tapering off” (the beginning of the phasing out of incentives) when it was said that “soon it can be guaranteed” a slowdown in the pace of debt purchases.

“If good progress continues as expected, the committee believes that such a slowdown in asset purchases will soon be guaranteed,” the Federal Open Market Committee (FOMC) emphasizes.

Market watchers expected the Fed to keep interest rates at current record lows, but they were very much looking forward to what would be announced regarding this pandemic-era stimulus program.

There was widespread agreement that the US central bank could announce the start of a “ taper ”, but there were those who believed that the Fed would postpone this slowdown in debt purchases, as the labor market was not yet resilient and the specter of permanent inflation was fading away. The Fed is now dispelling doubts by announcing that stimulus cancellation will be coming soon.

But “while the announcement of the ‘cut’ could probably have happened in November, the fact that the Fed did not do so today suggests that the committee is still blue. [uma postura mais branda, acomodatícia]Bleakley Advisory Group investment director Peter Boquvar told CNBC. However, Jefferies chief strategist David Zervos pointed to the same source that Powell revealed the ‘slightly bigger falcon’ side (not as soft) as he has recently disclosed at today’s press conference …

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wise Owl

Powell is known to have always taken a more hawkish stance, not least because he did not advocate tightening monetary policy in the name of financial stability, but he also advocates ideas that lean more towards the dovish side, and therefore it is considered a person. in the medium term.

When Powell was elected Fed chairman, Richard Fisher, former Dallas Fed chairman, said the new leader was “neither a hawk nor a dove.” “I used to say that we all want to be wise owls. And I think Powell fits very well into that category, ”he then emphasized in statements to the New York Times.

GDP revised downward while inflation is up

Today was also central bank day. update your forecasts for economic growth, employment and inflation

“With progress in vaccinations and strong support for policy-proposed measures, both economic activity and employment rates continued to strengthen. The situation in the sectors most affected by the pandemic has improved in recent months, but the rise in the incidence of covid-19 has slowed its growth. recovery, “says the Fed.

As a result, the central bank revised its estimate of GDP growth in 2021 by 1.1 percentage points, which is now 5.9% (versus 7% projected in June). For 2022, the Fed has revised upward by 0.5 percentage points its forecast for GDP growth, which is now 3.8%.

The unemployment rate is expected to be 4.8% this year, up 0.3 percentage points from last June’s estimates.

“Overall, financial conditions remain favorable, partly reflecting measures to support the economy and the flow of loans to US companies and families,” the report said.

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The Fed also points out that the direction of the economy continues to depend on the trajectory of the virus. “Advances in vaccination programs should further reduce the economic impact of the public health crisis, but risks to the economic outlook remain,” he warns.

Regarding inflation, he says that “it is high mainly due to transitional factors,” as he has repeatedly pointed out.

The FOMC has reiterated that it aims to achieve maximum employment and inflation rates of 2% over the long term. Since inflation is consistently below this target, he said, the committee assumes that inflation has moderately exceeded 2% for some time, so that inflation averages 2%.

This announcement reflects a new central bank strategy that allows inflation to exceed 2% after periods when it falls below this target. Remember, this change was announced by Powell. last August

The Fed revised its inflation forecasts for this year by 0.8 percentage points to 4.2%. But growth is expected to slow in the next two years.

Half of the Fed’s members expect interest rates to rise in 2022.

Another market focus on this Fed meeting focused on the “dot chart” – a map that shows how each central banker assesses changes in key interest rates.

And this map shows that half of the members of the Federal Reserve System expect interest rates to rise as early as next year.

Thus, nine out of 18 FOMC members expect an interest rate hike in 2020, while only seven had such a forecast in June.

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All but one participant expect at least one key rate hike by the end of 2023, with 13 of them expecting two hikes by 2021.

Powell says that removing incentives is not synonymous with raising interest rates.

Jerome Powell, speaking after the Fed announced its monetary policy decisions, reiterated that the “tightening” “is not an immediate sign” of an increase in key interest rates.

Thus, the Fed chairman said that the removal of incentives is not synonymous with “timing” to raise the federal funds rate.

Powell, who is expected to remain in charge of the central bank for another term, also said the “phase-out” would be advisable to end around mid-2022.

However, the Federal Reserve leader also said at a press conference that many Fed members are convinced that employment in the country already meets the standards of the central bank for “significant further progress.”

When asked what impact the September labor market data might have on future interest rate hikes, Powell replied that he was not looking for specific numbers, but rather “cumulative progress.”

“It doesn’t take me a bombastic, impressive, and ultra-reliable report” to raise interest rates. “You will need a good enough employment report to feel like you passed this test,” he said.

“Many members of the committee believe that the test of significant further advancement in employment has already been passed … As for me, I think it is almost passed,” he said.

(news updated at 20:58)

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