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Economy

Montepio. Vitor Melisias leaves the stage

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Montepio.  Vitor Melisias leaves the stage


Almost 40 years later, Vitor Melicias will not be in a senior position at Associação Mutualista Montepio Geral (AMMG), which will be voted on on December 17th. He joined Mutualista in 1983, during the stabilization phase after the institution was on the verge of entering a wave of bank nationalization in the post-revolutionary period and continues to this day. But for the first time, he is missing from the lists for either the administration or the supervisory board – names already being evaluated by the Insurance and Pension Fund (ASF) Office of the Supervisory Board.

“I cannot stay in Montepio forever. The fact that I did not apply is simply a desire for renewal, for the spirit of the organization to exist. I can’t stay in the office forever. It doesn’t make any sense. The refusal to submit an application is a positive act of cooperation with the institution, supporting the renewal, eternal life of the institution, ”he says Nasser do SOL.

The Franciscan priest also recalls that he was one of the main factors behind the term limits, and as far as the remuneration he still receives, he says that he only receives attendance vouchers – a few hundred euros – as other functions he currently favors Mutualista does not receive any remuneration. “I haven’t received a reward from Montepio for 18 years. I have a pension and everything I get goes to the Franciscans. “

In interview i, he already mentioned that he received three types of pensions: one from social security, another from Montepio, which he deducted as a member, and another called the statutory Montepio pension, which is for those who have been there for more than five years. “All together should give a maximum of 3,900,400 euros. And from this account automatically, without passing through my hand, 3,000 euros are transferred to the monks. There are 900 people left to manage their lives, to help the poor, ”he said to i.

The guarantee is again given to Sunrise, citing that Franciscans live “with the greatest simplicity, no frills.”

Nevertheless, Melisias does not exclude the possibility of promotion with his name to the General Assembly or the Assembly of Representatives. “There is no list for these positions yet. If they convince me that I have to leave because it will be favorable, I probably won’t be able to say no. ” And he leaves a guarantee: “I really want not to go, but the feeling of solidarity with the institution can” force “me to do it.”

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And despite not being listed on any of the lists, he admits that his name inspires confidence. And he says that his absence does not mean that he no longer supports the project. “We need to be given peace of mind. It is an institution with 200 years of history, which has grown, strong, organized, has 600 and a thousand such members. ” However, he admits that in recent years, especially in the wake of the pandemic, the numbers have fluctuated. “Some come in and others leave. This is important and not a cause for concern. “

Countdown

Along with Virgiliu Lima, who represents the succession list and has names like Idalia Serrao, João Carvalho das Neves, Rui Heitor and Fernando Amaro, Alipio Dia and Luis Patrao, there are three more competing lists.

One is the so-called “Staff List” headed by Pedro Alves, who raised the candidacy after João Vicente Ribeiro asked to leave “for personal reasons” drawn up by Maria Eduarda Osorio, Nuno Parames and Pedro Libano Monteiro.

Eugenio Rosa, as well as Ana Drago, Antonio Coutu Lopez, Catarina Homem, Luis Costa and Thiago Mota Saraiva are running for the leader of the Mutualista, while another list supported by Ribeiro Mendes, who ran in the last election against Thomas Correia, is Pedro Corte Real (President), Miguel Coelho, Mario Valadas, Nazare Ribeiro, Nuno Rolo, Marcelo Gama and Ana Nogueira.

Nasser do SOL knows that, using the electoral practice of Thomas Correia, Virgilio Lima has traveled all over the country from end to end, visiting branches of Banco Montepio. This “charming” operation began in July and did not end until August. Branches in Braga, Porto and Aveiro were recently visited. Our newspaper discovered that these visits were made under the pretext that they were the president of Associação Mutualista, and that they had the goal of interviewing employees to find out how the relationship with customers and partners is going.

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Despite this round, the Executive Committee sent a note to the workers on the risks of conflicts of interest in connection with the elections: “The electoral process for the Montepio Geral Associação Mutualista is very close, this is an important event in the life of this institution. … Caixa Económica Montepio Geral (“Banco Montepio”) is neutral and absolutely independent in this process, convinced that this is the best way to do our part to protect the interests of MGAM and its members, ”says the document.

And he reminds employees of the rules: “In carrying out their professional activities, they must refrain from taking positions on any candidates that are under scrutiny, regardless of the means used in contact with clients and employees of MGAM; No electoral initiative may be carried out within the MGAM electoral process at the Banco Montepio premises; They must immediately inform the board of directors when they are on the list of candidates; any public interference or communication in relation to the electoral process that is permissible under applicable law can only be carried out in a personal capacity, which must be duly noted and cannot represent or bind Banco Montepio, “adding that” a breach of the above obligations may constitute a disciplinary offense, and the following conduct is therefore prohibited: the use of Banco Montepio funds and facilities, namely email, telephone, Internet access and similar technologies, to exchange or distribute messages in support of a candidate or list; using the funds that Banco Montepio has provided to carry out its functions, to attend campaign promotions, to collect votes or to promote a list or candidate (eg cars and mobile phones). “

The Banco Montepio Executive Committee has also begun a program to decentralize its meetings, starting with Guimaraes, which it attended last Wednesday. As a reminder, the term of office of the current management of Banco Montepio expires on December 31, which means that the selection of a new management team for the bank will be one of the first tasks of the new administration of Associação Mutualista.

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2020 accounts approved

Also this Thursday, the consolidated financial results of the Montepio Geral Group for 2020 were approved by 97.28% of votes at the next general meeting. “In a year marked by the strong negative impact that the pandemic has had on the entire national, European and global financial sector, the financial sector of the Montepio Group was no exception, registering a series of extraordinary events that negatively impacted Banco Montepio Geral’s bottom line (- 86 million). Without this completely exceptional reality, the consolidated financial statements would have amounted to 65 million, ”he said in a statement.

According to Virgiliu Lima, the accounts were approved “after the partners were fully informed of the very positive results already registered in 2021, with an increase in the number of employees, financial margins, results and performance indicators,” adding that “the non-financial sector is experiencing a positive upward cycle and the financial industry provides indicators that confirm a clear recovery. ” And he left a guarantee: “No one is proud of the negative results, but the road of recovery that the Montepio Group is already on to this date, and the performance of all our employees in 2020 and 2021 as part of the restructuring fill us. proudly. at the group level, in terms of simplifying the number of special purpose vehicles, adjusting the number of branches and work teams, always on a voluntary basis. At the same time, we look to the present and the future with determination, calmness and confidence. “

Figures that don’t convince opponents. The executive group states that the accounts “reveal a failure to value the Institution”, believing that “the course of ongoing asset devaluations can be reversed.” The list, led by Eugenio Rosa, also criticizes the losses, believing that “it is time to try to apply the good reports and best practices that members deserve and have been waiting for.”

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Economy

What factors impact financial markets?

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The global financial markets are now hugely complex, with traders and analysts around the world looking closely for signs of movement. What are some of the most important factors to be aware of that impact the financial markets?

Geopolitical events

With news breaking from different countries throughout the day, many different stories could affect the markets on any given day. For instance, economic indicators such as the European Central Bank’s inflation rates and gross domestic product numbers released by each country can determine which direction the markets take. Stocks, currencies and other financial instruments can all vary depending on these areas.

Major events such as war breaking out, natural disasters and elections also have an effect. When we look at the commodities market, climate change is an issue to bear in mind, with unusual weather sometimes causing scarcity or abundance of a certain product.

An interesting aspect of the modern financial world is the way that the different markets are linked. This means that any important event or news story that affects one area could easily affect another, even if the link isn’t obvious at first sight. We can also see how local shocks and events can quickly have an effect at a global level.

The financial crisis of 2008 is a good example, as it started with a serious downturn in the US housing market. Although this appeared to be a localized issue at first, it soon revealed some major issues with the global banking setup that caused problems around the planet affecting millions of people and diverse industries.

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Speculation and investment trends

The previous factors all point toward the markets changing, and there’s no shortage of traders around the world waiting to see what happens next and how they can benefit. This means that we need to take into account other issues such as speculation and investment trends in the markets.

Armed with a variety of tools, including candlestick charts, traders try to identify trends such as support and resistance levels. They use the information they glean from the charts to make their moves, which can influence the general market if enough people make the same moves or if the amounts involved are significant.

Once an investment trend begins, it can have a knock-on effect that would have been impossible to predict at the outset. The example of Bitcoin and other cryptocurrencies shows how something that starts small can grow impressively. Cryptocurrencies have now gained enough mainstream appeal to influence and disrupt many industries, from healthcare to gaming and banking.

It’s important to understand how the leaders of a company operate and how they have faced challenges in the past. If we look at banking and the Bank of New York Mellon in particular, we can see that its history can be traced back to 1784, so it has overcome all the major events that have occurred since then. With some of the biggest names in the business world making up its key institutional investors, this is a company that we would expect to react effectively to changing markets.

Regulatory changes and company results

Just about every industry represented in the financial markets has laws and regulations that govern it. This means that the fear of harsher new laws is an almost constant threat. Meanwhile, the hope that beneficial changes to the regulations help businesses prosper is the other side of this matter that investors keep a close eye on.

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Let’s not forget the role played by the profit and loss results produced by major companies. It’s clear that these results have an almost immediate effect on their stock prices. However, we should also bear in mind that this effect can reach other areas of the economy. A surprising set of results for a large business can produce shock waves that travel around the market.

What impact do they cause?

From the wide variety of examples that we’ve looked at here, it’s clear that the impact isn’t going to be the same in every case. While one set of circumstances might snowball and cause a huge impact, another might cause a limited impact before the news disappears as other events overtake it.

Having said that, one of the key issues that they cause is a higher degree of market volatility. We can see how this works by looking at an area such as the COVID-19 pandemic in 2020. The markets became a lot more volatile as the different aspects of the pandemic became clear. Streaming companies, healthcare companies and video conferencing technology firms made huge profits, while airlines and hotels were among those to lose out massively.

Working out the overall impact of a particular situation is almost impossible to do now. With so many traders looking over the latest news stories and numbers with advanced tools, the original impact can quickly grow or simply disappear. Therefore, the key for investors is to understand emerging trends and react to them before it’s too late.

These details reveal how complex the global financial market is now. It’s a fascinating world, and with more information at our fingertips than ever before, it’s something that anyone can start to research and understand in their own way.

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Economy

Everything has been delivered. 10 Bugatti Centodieci are already in the hands of the owners

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Everything has been delivered.  10 Bugatti Centodieci are already in the hands of the owners

OAll Bugatti Centodieci have been delivered, the Molsheim-based brand said on Monday. Cristiano Ronaldo received the number 07 in October this year. and Bugatti has now revealed that the latest unit – #10 – is already in the possession of its owner.

“The Centodieci combines all the values ​​of the Bugatti brand in an extraordinary package: rarity, innovation, heritage, craftsmanship and unrivaled performance. The production batch of 10 units was so in demand by our customers that it was sold before the Centodieci. was even officially presented,” said Christophe Piochon, president of Bugatti.

This latest example is finished in Quartz White with carbon fiber trim on the bottom and matte grilles. The brake calipers are painted in Light Blue Sport, as is the logo on the rear that refers to the EB110, the iconic Bugatti model that inspired this Centodieci. Inside, the predominant color is also blue, as you can see in the images above.

This block is powered by the same block as the other nine instances. The 8.0-liter W16 with four turbines is capable of developing 1600 hp. In terms of performance, this allows the Centodieci to hit 100 km/h in just 2.4 seconds and reach a top speed of 380 km/h.

Recall that each unit costs the owners eight million euros before taxes.

Read also: We already know when the Bugatti Centodieci fell into the hands of Ronaldo.

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Economy

The first Dacia hybrid. “The cheapest hybrid family on the market”

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The first Dacia hybrid.  "The cheapest hybrid family on the market"

BUT Dacia revealed this Monday that the hybrid engine has been available since March on the Jogger, the Romanian brand’s model known to be available with a seven-seat variant.

The Jogger Hybrid 140, Dacia’s first hybrid, will hit dealerships in March, but customers can expect and order it as early as January.

The price has been revealed by Dacia and since it’s only available in the seven-seater SL Extreme, it starts at €28,800. The brand claims it is “the most affordable hybrid family car on the market.”

Available in six existing colors to celebrate the launch of this hybrid, there will be a slate gray version, as you can see in the images above.

Equipped with a 1.6 liter four-cylinder petrol engine with 90 hp, the Jogger is also powered by two electric motors (a 50 hp engine and a high-voltage starter-generator). The total power is 140 horsepower. The electric transmission is automatic, four-speed, connected to an internal combustion engine, and two speeds are connected to an electric motor. This combined technology was possible, according to Dacia, only due to the lack of clutch.

Combined with the energy recovery levels of the 1.2kWh (230V) battery pack and the efficiency of the automatic transmission, regenerative braking delivers all-electric traction on 80% of urban journeys and saves up to 40% of fuel compared to a combustion engine vehicle.

Read also: Dual-fuel Dacia Jogger Eco-G. We tried 5 seater and LPG…

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