Germania 2014 | Fiducia imprese Germania cala oltre attese, pesano Iraq e Ucraina

Roma, 24 giu. (TMNews) – Calo superiore al previsto del clima di fiducia delle imprese in Germania. A giugno l’indice elaborato dal centro studi Ifo si è attestato a 109,7 punti, dai 110,4 del mese precedente, laddove in media gli analisti si attendevano solo una limatura a 110,3-110,2 punti.

“L’economia tedesca teme il potenziale impatto delle crisi in Ucraina e Iraq”, ha affermato il presidente dell’Ifo, Hans Werner Sinn in un comunicato. Le valutazioni sul quadro attuale interno restano positive, la flessione dell’indice deriva principalmente da una attenuazione degli ottimismi sui mesi futuri.

Secondo Victor Echevarria, analista di Bnp Paribas la dinamica dell’Ifo sembra segnalare che l’economia tedesca si sta riportando su una dinamica più “neutrale” rispetto a quella nettamente espansiva vista nei mesi passati. Soprattutto a causa di un ridimensionamento della crescita nel manifatturiero.

Questa è una notizia dell’agenzia TMNews.

ASIA NOW 2013 | Singapore “to Become New Switzerland”, as the biggest offshore wealth center

Singapore | The power of ASIA 2013

LUANDA - Wealth managers are stepping up their search for staff to expand in Asia as Singapore starts to overtake Switzerland as the world’s top private banking hub.

Singapore will overtake Switzerland as the biggest offshore wealth center in terms of assets under management by 2020, according to research firm WealthInsight.

A separate survey of advisers by PwC said Singapore would leapfrog Switzerland this year in terms of reputation. A broader survey by adviser Z/Yen in March named Hong Kong and Singapore as two of the world’s top four financial centers behind London and New York. Singapore was tipped for the top more frequently than any other city.

The business case for wealth management in Asia is clear: Singapore had the highest percentage of millionaire households in the world at the end of 2011, according to research from the Boston Consulting Group, and Hong Kong had the highest number of billionaires relative to the size of its population. While private wealth in the Asia-Pacific region ex-Japan increased by 10.7% to $23.7 trillion in 2011, private wealth declined in North America and Western Europe.

Advisers say Singapore’s low tax rate, stable currency, efficient corporate registration and clearly defined regulation have become more attractive than Switzerland.

Sebastian Dovey, managing partner of advisory firm Scorpio Partnership, said: “Whichever year you want to choose, Singapore is on a trajectory to get to the top.”

Chris Wheeler, senior analyst at Mediobanca Securities, said: “If you want to be anywhere in the international wealth advisory business, you need to be in Singapore.”

For advisers based in Switzerland, the move’s not a cheap one.

Mr. Dovey said the war for talent in Asia and real estate costs made Singapore one of the world’s most expensive places to set up a wealth advisory business. The ratio between costs and income in Europe averaged 73%: “But the ratio is 10 percentage points higher in Singapore,” he said.

An executive at a large wealth advisory firm said he knew of advisers “working at a loss in the hope of getting market share”.

Even so, BNP Paribas Wealth Management plans to add 200 private bankers in Asia over the next three to five years, the firm told Financial News, MoneyBeat’s sister journal. Rory Tapner, chief executive of private bank Coutts, part of the Royal Bank of Scotland RBS.LN -2.09%, said he wanted to double his client-facing staff in Asia in the next two or three years.

Swiss bank Julius Baer calls Asia its “second home market” after buying Merrill Lynch’s international wealth business. Chief executive Boris Collardi has said the deal doubles Julius Baer’s market share in north and south-east Asia and told a Chinese newspaper that the firm would more than double its staff in Asia by 2015.

First-quarter results from banks with large wealth businesses have illustrated how capital investment in Asia can pay off. Asia-Pacific flows were up 11% year-on-year at Swiss bankUBS UBSN.VX -2.28%, representing a third of the bank’s Sfr15bn ($16.05bn) in net new wealth assets. Inflows from clients in Europe were lower at just Sfr 1.1bn.

At Credit Suisse CSGN.VX -2.37%, assets under management for wealth clients in Asia were up 21% year-on-year, the strongest growth of any region.

And  banks on both sides of the Atlantic are pruning their wealth-management businesses: Morgan Stanley MS -1.26% last month sold its European arm to Credit Suisse, while Lloyds Banking Group LLOY.LN -0.88% is said to be considering selling some international wealth operations.

By Sarah Krouse and Mike Foster | Wsj

Angola’s economy outlook 2013 | Economic growth projected to reach 8.2%

Angola’s economy rebounded strongly after experiencing slow growth due to oil and financial crises. Economic growth is expected to reach 8.2% in 2013, and 7.8% in 2014, driven by the expansion in the oil and gas sector and a public expenditure programme designed to encourage economic diversification.

The government has embarked on ambitious reforms to improve governance but the business environment remains challenging in terms of institutions and infrastructure settings. Nonetheless, the creation of the Sovereign Wealth Fund (SWF) will help insulate the economy from volatile oil prices.

The country has made significant strides in a variety of human development indicators, including poverty, health and education but still ranks low in the Human Development Index (HDI) at 148th place out of 187 countries surveyed and continues to provide only a rudimentary social safety net in the form of fuel and utility subsidies.

 

Overview

The Angolan economy rebounded strongly after several years of low growth attributable to the lingering effects of the global financial crisis. Real gross domestic product (GDP) grew at an estimated rate of 7.9% in 2012 (up from 3.9% in 2011) on account of the strong performance of the energy, transportation and construction sectors. The outlook for 2013 and 2014 remains positive, with economic growth projected to reach 8.2% and 7.8%, respectively. This will be driven by a combination of continued expansion in the oil and gas sector and a public expenditure programme designed to encourage economic diversification.

The implementation of the 2009-12 Stand-By Arrangement (SBA) programme of the International Monetary Fund (IMF) helped the country to regain macroeconomic stability, achieve an improved fiscal position, more comfortable level of international reserves, a stable exchange rate, and lower inflation. Furthermore, large domestic arrears were settled, and progress was made in strengthening fiscal transparency and accountability. However, the country continues to face massive developmental policy challenges, including the reduction of the dependency on oil, the diversification of the economy, the rebuilding of the economic and social infrastructure, the improvement of the institutional capacity, governance, public financial management systems, human development and living conditions of the population. These factors are constraining the pace of diversification of the economy and preventing small- and medium-sized enterprise (SME) development and job creation. Unemployment remains significant at about 25%, and the incidence of poverty remains high at 36.6% of the population.

Much of the country’s growth over the past decade can be directly attributed to the exploration of natural resources. Oil still accounts for nearly 80% of government revenue, 90% of exports and 47% of the country’s GDP. This makes the economy heavily dependent on oil revenues and vulnerable to oil price shocks. In an attempt to further diversify the economy, a 5 billion US dollars (USD) Sovereign Wealth Fund (Fundo Soberano de Angola) was created in October 2012. The fund was endorsed by the IMF, which had long advocated such an instrument to help insulate the economy from volatile oil prices. Nonetheless, the main challenge rests on the government’s ability to ensure transparency, accountability and equitable distribution of the country’s natural resource earnings. Moreover, as Angola continues to access non-concessional financing to meet its development needs and expands the exploration of its natural resources, the government will need to guarantee the preservation of the country’s debt sustainability, while ensuring greater transparency and accountability in the management of oil revenues.

Figure 1: Real GDP growth 2013 (South)

Real GDP growth (%)Southern Africa - Real GDP growth (%)Africa - Real GDP growth (%)20042005200620072008200920102011201220132014-5%0%5%10%15%20%25%Real GDP Growth (%)

Figures for 2012 are estimates; for 2013 and later are projections.

http://dx.doi.org/10.1787/888932804947

Table 1: Macroeconomic indicators 2013

	2011	2012	2013	2014
Real GDP growth	3.9	7.9	8.2	7.8
Real GDP per capita growth	1.1	5.2	5.5	5.1
CPI inflation	13.5	10.3	8.7	9.3
Budget balance % GDP	10.2	7.8	4.8	3.5
Current account % GDP	9.6	8.2	8.1	7.6

Figures for 2012 are estimates; for 2013 and later are projections.

ANGOLA 2012: All about Angola's new $5-billion sovereign wealth fund, the Fundo Soberano de Angola

Tipped as a potential successor to his father, Jose Filomeno de Sousa dos Santos, also known as Zen, has kept out of the limelight until now.

José Filomeno de Sousa dos Santos (Zenú)
Last month the 34-year-old was formally named as one of three board members of Angola's new $5-billion sovereign wealth fund, the Fundo Soberano de Angola.

Some Angolans have questioned how Zenú got his job at the fund, which has no oversight from Parliament.

Zenú has strongly denied the allegations of nepotism and says he has the experience to work at the fund.

In recent weeks he has resigned from his board position at Angolan bank Banco Kwanza Invest, which he co-owns with his friend and business mentor, Jean-Claude Bastos de Morais. He has said he is selling his shares in the bank.

Swiss-Angolan Bastos de Morais is president of the advisory board of the Swiss-based Quantum Global Wealth Management, which the wealth fund has appointed as its liquid asset manager.

According to Swiss registry documents, Quantum Global, the wealth management company's parent, is owned by a former president of the German Federal Bank, Ernst Welteke, who is the chairperson of Banco Kwanza Invest in Angola.

Laptop for schools
Since joining the fund, Zenú has also resigned from the board of the African Innovation Foundation, which was founded by Bastos de Morais. Based in Switzerland, the foundation has a remit to promote innovation and social development. It has funded a "laptop for schools" programme in the country's capital, Luanda, and sponsored an anti-money-laundering conference.

Zenú is the son of Filomena de Sousa, who was working at the foreign ministry when his father, President José Eduardo dos Santos, was the first foreign minister after independence from Portugal in 1975. In the early 1990s his mother was transferred to an Angolan embassy in Switzerland, taking Zenú with her. She later moved to the embassy in London, where Zenú did a master's degree in information management and finance at Westminster University.

Zenú's appointment to the wealth fund is his first formal public role. Previously, he held positions at the insurance outfit AAA, part of Angola's powerful state oil company Sonango, and local private transport operator Tura. Prior to that he worked in London for global commodity trader Glencore, although it is not known in what capacity.

It has been reported that Zenú, who is married with three children, had a senior role at China Sonangol, an opaque joint venture between Sonangol and the controversial Hong Kong-based China International Fund. Through his position at China Sonangol Zenú was also reported to have been working with the presidency as an "engineer", planning Luanda's new airport, which is under construction at a China International Fund site, about 40km outside the city centre.

In an interview last month with the Mail & Guardian Zenú denied he had ever worked for China Sonangol or that he was involved in the airport project. He also scotched rumours that he had shares in Movicel, one of Angola's two cellphone operators, which was privatised without public tender in 2009 and to which his sister, Tchize, is also reportedly linked.

"I don't even own a Movicel phone," he said.

Isabel José dos Santos
Dos Santos's first-born, Isabel – often dubbed the richest woman in Africa – is an engineering graduate who has been cited by several magazines as one of the most powerful business figures in Portugal, where she has major stakes in banks, telecoms, television, energy and retail operations.

In Angola she owns restaurants, casinos, cement plants and real estate projects, as well as the country's main cellphone operator, Unitel.

Through her company Sonae she is launching the Continente supermarket chain in Angola. Last month it was reported that she had bought Cape Verde's mobile operator T+ and her reach extends into Mozambique through her shares in Portuguese satellite television company ZON, which also operates in Angola as ZAP.

The London-educated Isabel, who is sometimes dubbed "the princess", has shares in several high-street Angolan banks, including BIC and BESA, plus several board memberships. She is reported to be linked financially to the country's diamond-selling monopoly, Ascorp, which was set up by an Israeli-Russian consortium in the late 1980s.

Her joint-venture business partners include Americo Amorim (claimed to be Portugal's richest man), Sonangol and several senior Angolan generals.

Born in 1973 to Russian Tatiana Kukanova (whom Dos Santos met while he was studying in the former USSR), Isabel married wealthy Congolese businessman and art collector Sindika Dokolo in 2003. Dokolo is the son of Kinshasa millionaire Sanu Dokolo and his art movement, the Sindika Dokolo Foundation – which claims to hold Africa's largest collection of contemporary art – runs the respected Trienal de Luanda exhibition and sponsors most other arts events in the country.

Isabel, who has several children, divides her time between Luanda, Lisbon and Johannesburg, but she is rarely seen in public and avoids the media spotlight. She is the patron of the Angolan Red Cross.

Welwitschia José dos Santos Pego (Tchizé)
Tchizé, who was educated in the United States, has a wide range of business interests, including television, advertising and reportedly diamonds and cellphones. She is president of the Benfica de Luanda football club.

She is best known for her management role at TPA 2, the second channel of state broadcaster Televisão Publica de Angola. Her company, West Side Investments, which she owns with younger brother José Paulino dos Santos (Zedú), appeared to be handed control of the popular youth channel in 2009 without any form of public tender, although the details remain sketchy.

The 35-year-old and her brother also own and run Semba Comunicação, which is the production company behind many of the programmes and much of the advertising on TPA 2. According to the national budget, it was paid $17-million to produce an advertisement about Angola for international broadcaster CNN.

Tchizé is also the executive director of the country's most-read glossy gossip and society magazine, Caras, and founder of a similar publication, called Revista Tropical.

She is the daughter of Maria Luìsa de Abrantes, who heads Angola's overseas investment agency, ANIP. Tchizé is married to Portuguese businessman Hugo Andre Nobre Pego and they have several children.

According to reports by Angolan investigative journalist Rafael Marques, Tchizé holds a number of stakes in Angolan diamond concessions and was given a 10% cut in a joint venture that was due to open a Volkswagen factory in Angola, although that deal later fell through.

Tchizé was elected as an MPLA MP in 2008 but she later resigned from the position over claims that it was incompatible with her role at the television station. She was re-elected as an MP in the 2012 election but is unlikely to take up her seat in Parliament.

José Eduardo Paulino dos Santos (Zedú or Coreon Dú)
José Eduardo Paulino dos Santos is known as "Zedú" (the president is also called Zedú – short for José Eduardo) or by his stage name Coreon Dú. He is a respected singer and performer and runs Semba Comunicação with his sister Tchize, producing television and advertising for popular youth television channel TPA 2. His mother, Maria Luìsa Abrantes, is also reported to be a shareholder in the company.

Coreon Du was the brains behind the popular reality-style dance competition programme Bounce and he is running Os Kuduristas, a roadshow programme promoting Angola's unique kuduro style of rapping and dancing. He is the only one of the four older siblings (the president has several other children) who has a Twitter account, but he uses it to share information about his music projects and never talks politics.

Via|Mail Guardian

Così cambia l'Irpef per i redditi più bassi, l'Iva salirà di un punto. Monti: la disciplina dei conti paga (Italia 10 ottobre 2012)

Roma - Arriva il taglio dell'Irpef ma sarà finanziato con l'aumento di un punto delle aliquote Iva. Con un colpo di scena, dopo otto ore di riunione, il Governo rimette sul piatto la riduzione delle tasse ritoccando di un punto le aliquote Irpef più basse: dal 23 al 22% e dal 27 al 26 per cento. Non sarà invece scongiurato l'aumento delle aliquote Iva, che scatterà da luglio ma sarà di un solo punto: dal 10 all'11% e dal 21 al 22 per cento. Il solo aumento dell'Iva non basterà però a finanziare la riduzione delle tasse che dovrebbe costare all'incirca 5 miliardi: altre risorse potrebbero essere reperite attraverso il riordino delle agevolazioni fiscali.

Ecco in sintesi i provvedimenti varati dal Governo.
Taglio Irpef. Riduzione di un punto percentuale (da 23 a 22 punti e da 27 a 26) dell'aliquota sui primi due scaglioni di reddito (da 0 a 15mila euro e da 15mila a 28mila euro).

Dimezzato aumento Iva. Scatta l'aumento dell'Iva di un punto percentuale sulle aliquote del 10 e del 21 per cento.
Sanità, tagli per un miliardo a regime. Nuovi tagli al fabbisogno
del servizio sanitario nazionale per un miliardo a regime. Nel 2013, come ha spiegato il ministro dell'Economia, Vittorio Grilli, sarà inferiore a un miliardo.

Arriva la Tobin Tax. Introdotta una tassa sulle transazioni finanziarie da cui saranno esclusi i titoli di Stato.

Pensioni di guerra e invalidità. Le pensioni di guerra e di invalidità saranno soggette ad Irpef.

Riordino agevolazioni. Per i redditi superiori ai 15mila euro si introduce una franchigia di 250 euro per alcune deduzioni e detrazioni Irpef e, per le sole detrazioni, si fissa il tetto massimo di detraibilità a 3000 euro.

Pagamenti Pa con dismissioni. Il pagamento degli arretrati della Pubblica amministrazione sarà finanziato con il piano di dismissioni finalizzato a pagare il debito pubblico.

Banche. Saranno posticipate di 5 anni le deduzioni riconosciute alle banche per il maggior valore riconosciuto al riallineamento per l'imposta sostitutiva.

Controlli su bilanci Pa. Controlli dei bilanci delle pubbliche amministrazioni: verrà rafforzata la capacità di controllo sui bilanci degli enti locali, che farà leva sulla Corte dei Conti, sui servizi ispettivi della Ragioneria Generale dello Stato e sulla Guardia di Finanza.

Ok a commissario anticorruzione
Il Cdm ha anchedeciso di istituire nella legge di stabilità il Commissario anticorruzione, che presiederà la Commissione per la valutazione, la trasparenza e l'integrità delle amministrazioni pubbliche. Il ddl relativo ha ricevuto in nottata l'ok della commissione Giustizia e Affari costituzionali del Senato. Oggi il testo sarà in aula a Palazzo Madama.

Riforma del Titolo V della Costituzione
Il Consiglio dei ministri ha approvato infine il disegno di legge sulla riforma del Titolo V della Costituzione. Così ha introdotto il provvedimento il premier Mario Monti: «Il nostro Governo si é dedicato al compito di prendere misure per accrescere la competitività dell'Italia e rimuovere alcuni impedimenti strutturali, ma abbiamo riscontrato che un ostacolo tra i molti risiede in alcuni particolarità istituizionali, in particolare alcuni aspetti del Titolo V della Costituzione».

Monti: l'austerità paga
L'austerità «non é un circolo visioso»e «la disciplina di bilancio paga e conviene perché ci ha consentito di non dover rincorrere di continuo la congiuntura. Con le decisioni di questa notte in questo "brevissimo" Consiglio dei Ministri abbiamo voluto dare il chiaro segnale che quando ci sono segni di stabilizzazione ci si può permettere qualche sollievo». Lo ha detto il premier, Mario Monti, in conferenza stampa a conclusione della maratona sulla legge di stabilità. «Abbiamo dato questo segnale con l'inizio della riduzione Irpef - ha detto Monti - speriamo che gli italiani vedano in questa serie di decisioni di politica di bilancio, che non é una modifica di rotta, il fatto che quella rotta ha senso, che contiene elementi per dare benefici e quando le condizioni lo consentono i benefici ipotetici potenziali possono diventare concreti».

Via|Ilsole24Ore

Fabbrica Italia 2012: Monti alla Fiat: "Niente soldi, non ce li hanno chiesti” comunque non li daremmo

La Fiat resterà in Italia o no? Giusto qualche giorno fa, subito dopo l’annuncio dellacancellazione del presunto piano industriale Fabbrica Italia, era stato lo stesso Marchionnea dire: “Con gli utili fatti in Brasile teniamo aperti gli impianti in Italia“. Una frase che, accoppiata con il taglio degli investimenti nel nostro paese, non lascia ben sperare gli operai Fiat e dell’indotto. Se è questa la situazione e non si fa nulla per cambiarla quanto potrà durare?

Non basta. Alla vigilia dell’incontro fra Monti, Passera e Marchionne l’amministratore delegato di Fiat aveva rincarato la dose ricordando come il business Fiat in Brasile sia fortemente sovvenzionato dal governo brasiliano, cosa che “non può accedere in Italia” per via dei vincoli stabiliti dall’Europa: no aiuti alle aziende, stop.

Quindi cosa si siano detti Monti e Marchionne a quattrocchi non è dato saperlo, ma l’impressione è che non si siano detti sostanzialmente nulla. La conferma arriva della parole del Presidente del Consiglio che, rassicurando nelle intenzioni i contribuenti di fatto spiega che c’è poco da fare e si trincera dietro promesse talmente vaghe da non poter essere nemmeno rinfacciate, un domani.

Il governo si è impegnato non a dare aiuti finanziari ma a creare condizioni di contesto che favoriscano la presenza dell’industria automobilistica in Italia. L’incontro con i vertici della Fiat è stato lungo e dal momento che non veniva alimentato da noi con comunicati e Twitter capisco che chi doveva lavorare abbia fatto lavorare la fantasia, ma non sono stati chiesti aiuti nè Cig in deroga. L’esito dell’incontro è una scommessa che richiede un grande impegno delle parti.

Gli operai Fiat non dormiranno sonni più tranquilli di quelli degli ultimi mesi (o anni, se preferite).

Di Gabriele Capasso | Polisblog

New Economy 2012: China IP dispute threatens iPad exports

Apple’s long-running dispute over the iPad trademark in China could threaten global shipments of the popular tablet as the company which registered the trademark in the country is seeking an export ban from Chinese customs.

Proview Technology (Shenzhen), a struggling Taiwanese-owned electronics company in southern China, is asking the customs administration to seize iPads passing through Chinese ports for import or export, its lawyers said on Tuesday. The move raises pressure ahead of Proview Shenzhen and Apple’s latest round of negotiations this week aimed at settling the dispute.
It also highlights the risks for multinationals producing in China for the world market as Chinese law allows plaintiffs in intellectual property disputes to mobilise customs against the defendant.
“This is one of the most effective tools in intellectual property disputes in China,” said Kenny Wong, head of the IP practice at Mayer Brown JSM, the law firm. “Once you complain to customs, they have to act provided you have recorded your rights with them. With a Rmb100,000 [$15,900] bond, you can hold millions of dollars in goods.”
China’s official trademark database shows that Proview Shenzhen registered the iPad trademark in China as early as 2000. In 2006, Apple bought the iPad trademark for several markets, including the European Union, from Proview Taiwan, another affiliate of Proview International, the groups’ Hong Kong-listed holding company. Only after Apple started selling the iPad in China did it realize Proview Shenzhen’s claim to the trademark there.
In December, a Shenzhen court rejected Apple’s request to have the China trademark transferred to its name, a ruling that Apple has appealed against.
According to legal experts, it normally takes up to a month to record a patent or trademark with customs. After it is recorded, customs will seize shipments from a sender other than the rights holder if it discovers them during random checks. Rights holders achieve more regular shipment blockages if they tip off customs on incoming shipments.
When goods are seized under this procedure, a court has to decide on the infringement claims, but customs can fine the defendant and the shipments remain blocked for the duration of the court case.
In 2006, Hitachi was forced to stop using a hard disk trademark because a Chinese rival that owned the trademark had blocked the Japanese firm’s shipments through customs.
“Multinationals frequently use this against counterfeiters, but it is also being used by Chinese companies against foreign firms,” said Li Yongbo, an IP expert with Jijia, a Beijing law firm. He said many foreign companies failed to register trademarks in China because they were not aware that this mattered for exports as well.
“Apple appears not to have done its due diligence properly in this case,” said Mr Wong. “Of course they are well-known and everyone now knows the iPad name in connection with them, but in this case, the trademark is owned by somebody else. They can’t keep selling under a trademark that they don’t own.”
Apple said that it bought Proview’s worldwide rights to the iPad trademark in 10 different countries several years ago. “Proview refuses to honour their agreement with Apple in China and a Hong Kong court has sided with Apple in this matter. Our case is still pending in mainland China,” it said.
A customs spokesman declined to comment.

By Kathrin Hille in Beijing
Email ftsales.support@ft.com to buy additional rights. http://www.ft.com/

Governo disponibiliza USD 1.6 biliões para empresários angolanos

 

Luanda - Uma Linha de Crédito Bonificado para apoio aos empresários nacionais com um montante de um bilião e 600 milhões de dólares foi criado este ano pelo Executivo angolano, no âmbito do seu programa de desenvolvimento das micro, pequenas e médias empresas.

Essa é para já a nota dominante das conclusões finais do encontro entre o MPLA, representado ao mais alto nível pelo seu presidente José Eduardo dos Santos e a classe empresarial angolana, de Cabinda ao Cunene, Quinta-feira, 26, realizada em Luanda.

Com o mesmo propósito, o MPLA, partido no poder, orientou o Executivo angolano a proceder também ao lançamento de um Fundo de Garantia para os empréstimos com um montante estimado em 1.2 biliões de dólares.

Perante a presença de 450 convidados, entre os quais 300 empresários angolanos de todas as matrizes, em representação de todo o país, deu-se a conhecer o projecto de revitalização do Instituto Nacional de Apoio às Pequenas e Médias Empresas (INAPEM) e a criação de um sistema de incubação de empresas, programa que poderá ser implementado entre os meses de Julho a Setembro do corrente ano.

No encontro, o ministro da Economia, Abraão Gourgel apresentou o programa de desenvolvimento das micro, pequenas e médias empresas e disse que dois por cento das empresas angolanas são exportadoras e dessas, 70% produzem com base em imputs de matérias-primas e acessórios importados.

Segundo Abraão Gourgel, essa situação dá a Angola um perfil de uma economia muito assente na importação e isso justifica a posição do Executivo em proceder a uma rápida alteração da nossa economia.

Por seu turno, o ministro das Finanças, Carlos Alberto Lopes, deu a conhecer o decreto presidencial sobre o processo de regularização dos atrasados da dívida pública interna decorrente da execução do Orçamento Geral do Estado.

Carlos Alberto Lopes falou sobre os atrasados contraídos durante o conflito armado, no período de 1992 a 2002, os atrasados constituídos durante o período de 2008 a 2009.

Incluiu também informação relativa às dívidas referentes à execução dos Programas de Investimentos Públicos.

Os empresários tomaram também conhecimento das dívidas com os bancos comerciais, aquelas referentes ao fornecimento de bens e serviços aos órgãos de defesa e segurança, bem como a dívida relacionada com o Campeonato Africano das Nações realizado em Angola, em 2010.

À porta fechada e com a duração de aproximadamente seis horas de discussões, o encontro constituiu uma oportunidade para que os empresários presentes apresentassem as suas opiniões, críticas e sugestões sobre a visão do MPLA em relação ao fomento do empresariado angolano, bem como a discussão de medidas concretas para o seu desenvolvimento imediato.

 

FRACA ATENÇÃO AO EMPRESARIADO

Para amenizar o clima, o presidente do MPLA, José Eduardo dos Santos, tratou logo de reconhecer que ao longo de todo esse tempo “nem sempre foi prestada grande atenção ao sector privado e, particularmente, ao sector privado nacional”.

Esse gesto humilde de José Eduardo dos Santos em reconhecer esse distanciamento do seu Executivo fez com que os empresários presentes recomendassem, e isso ficou expresso no comunicado final, a necessidade de se empreender a nível das estruturas governamentais uma mudança de políticas e de atitudes no tratamento das questões relacionadas com o apoio ao empresariado angolano.

A par da reabilitação e do desenvolvimento das infra-estruturas, os empresários encorajaram o Executivo a prosseguir com os esforços de montagem de linhas de crédito de financiamento à execução por empresários angolanos de empreitadas de obras públicas.

À semelhança dos apoios que as empresas estrangeiras que actuam no país recebem dos seus governos, os empresários angolanos exigiram um tratamento igual para que as suas empresas se apresentem em condições de igualdade competitiva.

O MPLA e o seu Executivo foram instados a envidar esforços para que a acção do Banco de Desenvolvimento de Angola (BDA) e do INAPEM se façam sentir em todo o país, fazendo com que os financiamentos ao sector produtivo e as actividades de formação do empresariado nacional sejam uma realidade.

 

PRESENÇA DO SECTOR PRIVADO

No que diz respeito ao investimento público, José Eduardo dos Santos disse que

Executivo elegeu este iten como alavanca ao desenvolvimento, augurando, por isso, aumentar a participação do sector privado e aumentando a sua responsabilidade na estratégia do MPLA e do Executivo para a edificação da economia de mercado.

Perante todos os membros do Bureau Político, deputados e primeiros secretários dos comités provinciais do MPLA, o líder do partido maioritário disse que o Executivo está apostado em aumentar a participação do sector privado na economia nacional e, paulatinamente, transformá-la em motor desta área vital do desenvolvimento do país.

Segundo José Eduardo dos Santos, apesar do investimento público e da presença do Estado, há uma grande responsabilidade do sector privado na estratégia do MPLA e do Governo para a edificação da economia de mercado.

 

REAJUSTAMENTOS DOS INSTRUMENTOS

Na sua intervenção, o presidente do MPLA deu a conhecer que estão a ser finalizados os documentos que vão orientar a actividade do sector privado na economia e, neste quadro, anunciou que estão previstos reajustamentos aos instrumentos de implementação dessas políticas.

Sob a orientação do seu partido, o presidente do MPLA referiu que é está política que o Executivo angolano tem seguido até aqui para apoiar o sector empresarial privado e para promover o desenvolvimento da economia real e do sector de produção de bens e serviços.

Por isso, referiu, se achou oportuno proceder-se a auscultação dos empresários, porque pretende-se reajustar a política empresarial, os instrumentos de investimentos privados, como de legislação e métodos, para garantir a implementação da Lei das Micro, Pequenas e Médias empresas.

“Importamos quase tudo e temos que importar, porque afinal realizamos investimentos de grande vulto no sector público, também as empresas privadas vão realizando investimentos, criam empregos, pagam salários, aumentam a procura global que tem que ser satisfeita por uma adequada oferta de bens e serviços”, asseverou.

O Presidente José Eduardo dos Santos referiu que pretende-se evitar que essa oferta de bens e serviços seja feita, fundamentalmente, a partir de mercado externo.

“Podemos criar capacidades locais, tendo um sector empresarial privado dinâmico e cada vez mais capacitado e que nalgumas áreas vá substituir o Estado na produção”.

 

DÍVIDAS ESTÃO A SER PAGAS

Dois biliões e 653 milhões de dólares norte-americanos é o valor da dívida paga pelo Estado angolano, no período entre 2003 e 2010, a credores internos e externos, informou o ministro das Finanças, Carlos Lopes no encontro com os empresários nacionais.

Segundo o ministro das Finanças, em 2003 foram pagos 380 milhões de dólares, em 2004, USD 271 milhões, 2005, USD 354 milhões, no ano de 2006, USD 363 milhões, em 2007, USD 444 milhões, 2008, USD 513 milhões, em 2009, USD 259 milhões e em 2010, USD 69 milhões.

O titular das Finanças disse que o pagamento pelo Estado angolano da dívida atrasada aos empresários nacionais e estrangeiros foi feito através da emissão de Obrigações de Tesouro. Ainda sobre as Obrigações do Tesouro, o ministro das Finanças disse que do total emitido, foram resgatados, até Dezembro de 2011, aproximadamente títulos no valor de dois mil milhões de dólares norte-americanos.

De acordo com Carlos Alberto Lopes, o Estado recorreu ao endividamento para pagar os seus credores por via de emissão de títulos e até Dezembro de 2011 já devolveu o dinheiro por via de resgate dos títulos.

“Com isso o stock desses títulos, medidos até 31 de Dezembro de 2011, situam-se em USD 644 milhões e o Estado pagou pela emissão juros no valor de 325 milhões de dólares norte-americanos”, referiu o governante, salientando que esses são os esforços financeiros feitos pelo Estado angolano para regularizar a dívida de 2003 a 2010.

Nas conclusões finais do encontro, os empresários nacionais exortaram o Executivo a continuar a dar um tratamento equitativo aos membros da classe na regularização dos atrasados da dívida pública interna, de modo a não discriminar e capacitar cada vez mais do ponto de vista financeiro as empresas nacionais.

Ainda assim, encorajaram o Executivo a reforçar as acções no domínio do ensino técnico profissional com vista ao aumento da capacidade técnica e tecnológica da força de trabalho angolana, sobretudo os jovens e mulheres, permitindo com isso o aumento do emprego.

 

MPLA reconhece incapacidade  do empresariado nacional

O secretário do Bureau Político do MPLA para a Política Económica e Social, Manuel Nunes Júnior, reconheceu em Luanda, que, por razões históricas, os empresários angolanos são ainda insuficientes quer em quantidade, quer em qualidade para levar a cabo as tarefas inerentes ao desenvolvimento da economia de mercado de Angola.

O político referiu que, como o peso do sector privado na economia de Angola ainda não é significativo, o grosso da riqueza nacional está associada ao sector público, que deste modo é o principal investidor e consumidor da economia angolana.

“Sendo o Estado criador da riqueza e o principal consumidor, é natural esperar que ele desempenhe um papel de principal agente catalisador do processo de criação, crescimento e de desenvolvimento do empresariado nacional.” Disse tratar-se de um processo que os países mais desenvolvidos levaram a cabo a quatro ou cinco séculos atrás e que Angola, por razões históricas, só levará a cabo agora no século XXI , num ambiente político, económico e social, completamente diferente do prevalecente naquela altura.

“Estamos perante uma tarefa de enorme alcance estratégico, teremos de a conduzir com muito cuidado e também sabedoria para impedir que aqueles que sempre apostaram na força das armas, ou por outros meios, na nossa destruição como Estado, e que fracassaram, consigam agora concretizar os seus intentos pela via económica”, afirmou.

Manuel Nunes assegurou que o MPLA está consciente do seu papel em todo este processo e tem desenvolvido várias acções no sentido da afirmação e desenvolvimento do sector privado e do empresariado nacional.

Via | O País

Kixicrédito no Namibe: Iniciativa do Banco Nacional de Angola (BNA)

Com o objectivo de aumentar o acesso da população de baixos rendimentos ao crédito, a Kixicrédito, instituição financeira não bancária, licenciada pelo Banco Nacional de Angola (BNA), vai abrir no dia 27 do corrente uma agência na cidade do Namibe.

De acordo com uma nota da Kixicrédito, a abertura desta agência enquadra-se na estratégia operacional de expansão da empresa, em consonância com a política do BNA, de tornar os serviços financeiros mais abrangentes. As pessoas que exercem uma actividade económica sustentável, nos sectores produtivos ou do comércio, são o “alvo” desta instituição.

A Kixicrédito tem cerca de 60 por cento de clientes do sexo feminino e contribui para a redução das disparidades dos géneros no acesso ao capital, apoiando as mulheres a desenvolver negócios e melhorar as condições de vida dos seus agregados familiares, sublinha a nota.

O documento realça que sem segurança de rendimentos nem segurança social, as mulheres que operam no sector informal da economia precisam de um sistema financeiro inclusivo, que lhes dê oportunidade de participar no desenvolvimento da economia do país, mas também acesso à protecção na doença, na maternidade e velhice.

A Kixicrédito, lê-se no comunicado de imprensa, tem produtos adequados às necessidades dos pequenos empreendedores, como o crédito solidário e o crédito reforçado e individual, concedidos de acordo com a capacidade de reembolso de cada cliente, a fim de reduzir os riscos.

Com a inauguração do novo balcão, a Kixicrédito passa a ter 14 agências no Namibe, Luanda, Cabinda, Huambo, Benguela e Bié.

Via JA

Bce: Mario Draghi formalmente incoronato presidente della Banca centrale europea

Bruxelles - I capi di stato e di governo dell'Unione europea hanno formalmente nominato Mario Draghi alla presidenza della Bce. È quanto emerge dalla bozza delle conclusioni della riunione in corso a Bruxelles del Consiglio europeo.

La decisione apre la strada al governatore di Bankitalia, 63 anni, alla successione dell'attuale presidente Jean-Claude Trichet, alla scadenza del suo mandato a fine ottobre.

"Il Consiglio europeo ha nominato il signor Mario Draghi presidente della Banca centrale europea dal primo novembre 2011 al 31 ottobre 2019" si legge nella bozza ottenuta da Reuters.

Tuttavia nulla è ancora scontato comunque perché' ci sono resistenze francesi per il posto di Lorenzo Bini Smaghi al direttivo della Banca centrale, che però ha un mandato di otto anni e non si capisce il motivo per cui debba andarsene. Per i francesi convincerlo non sarà così facile e alla fine la sensazione è che l'ex economista di Bankitalia resterà dove si trova.

Credit default swap (CDS) – All about swap contract and agreement (CDSs are in the $10–$20 million range)

A credit default swap (CDS) can almost be thought of as a form of insurance. If a borrower of money does not repay her loan, she "defaults." If a lender has purchased a CDS on that loan from an insurance company, the lender can then use the default as a credit to swap it in exchange for a repayment from an insurance company. However, one does not need to be the lender to profit from this situation. Anyone (usually called a speculator) can purchase a CDS. If a borrower does not repay his loan on time and defaults not only does the lender get paid by the insurance company, but the speculator gets paid as well. It is in the lender's best interest that he gets his money back, either from the borrower, or from the insurance company if the borrower is unable to pay back his loan. However, it is in the speculator's best interest that the borrower never repay his loan and default because that is the only way that the speculator can then take that default, turn it into a credit, and swap it for a cash payment from an insurance company.

A more technical way of looking at it is that a credit default swap (CDS) is a swap contract and agreement in which the protection buyer of the CDS makes a series of payments (often referred to as the CDS "fee" or "spread") to the protection seller and, in exchange, receives a payoff if a credit instrument (typically a bond or loan) experiences a credit event. It is a form ofreverse trading.

A credit default swap is a bilateral contract between the buyer and seller of protection. The CDS will refer to a "reference entity" or "reference obligor", usually a corporation or government. The reference entity is not a party to the contract. The protection buyer makes quarterly premium payments—the "spread"—to the protection seller. If the reference entity defaults, the protection seller pays the buyer the par value of the bond in exchange for physical delivery of the bond, although settlement may also be by cash or auction. A default is referred to as a "credit event" and includes such events as failure to pay, restructuring and bankruptcy. Most CDSs are in the $10–$20 million range with maturities between one and 10 years.

A holder of a bond may “buy protection” to hedge its risk of default. In this way, a CDS is similar to credit insurance, although CDS are not similar to or subject to regulations governing casualty or life insurance. Also, investors can buy and sell protection without owning any debt of the reference entity. These “naked credit default swaps” allow traders to speculate on debt issues and the creditworthiness of reference entities. Credit default swaps can be used to create synthetic long and short positions in the reference entity.Naked CDS constitute most of the market in CDS. In addition, credit default swaps can also be used in capital structure arbitrage.

Credit default swaps have existed since the early 1990s, but the market increased tremendously starting in 2003. By the end of 2007, the outstanding amount was $62.2 trillion, falling to $38.6 trillion by the end of 2008.

Most CDSs are documented using standard forms promulgated by the International Swaps and Derivatives Association (ISDA), although some are tailored to meet specific needs. Credit default swaps have many variations. In addition to the basic, single-name swaps, there are basket default swaps (BDS), index CDS, funded CDS (also called a credit linked notes), as well as loan only credit default swaps (LCDS). In addition to corporations or governments, the reference entity can include a special purpose vehicle issuing asset backed securities.

Credit default swaps are not traded on an exchange and there is no required reporting of transactions to a government agency. During the 2007-2010 financial crisis the lack of transparency became a concern to regulators, as was the trillion dollar size of the market, which could pose a systemic risk to the economy.^[2][4][10] In March 2010, the DTCC Trade Information Warehouse (see Sources of Market Data) announced it would voluntarily give regulators greater access to its credit default swaps database.

From Wikipedia, the free encyclopedia

Historical Silver Eagle Prices: Remembering When The American Silver Eagle Commanded A 400% Premium

Did you know that American Silver Eagles can command extraordinary premiums, in certain situations? Read and find out about the time when these coins were fetching premiums up to 400% more than other silver bullion coins...

I recently published an article on Ezinearticles entitled, "2011 American Silver Eagle: 5 Reasons Why You Should Buy This Silver Coin! " extolling the virtues of this lovely silver bullion coin. One of the five reasons I listed as a good reason to buy was the excellent profit potential, even with the price of silver trading over $30 an ounce (the price of silver has since pulled back a bit).

Since the time I published that article, an incident happened that really got me excited, even more, about the investment potential of American Silver Eagles.

I was in my local coin shop recently, browsing through their trays of various silver rounds. With the price of silver off its recent highs, I thought this would be the perfect time to add to my silver stock!

I happened to overhear a conversation between the coin shop owner and another customer. It went something like this:

Owner: "Hey, Bill, you ordered any 2011 Silver Eagles yet?"

Bill: "Hadn't thought about it. They're a bit pricey. Thought I'd just stick with buying a bag or two of junk silver when I have some extra cash."

Owner: "Junk is always good but I like Eagles, too. Some folks I know made some serious money on them back in '99.

Bill: "Really?"

Owner: "Yeah, back during that whole Y2K scare period. When everyone thought the world was going to end at the stroke of midnight on January 1st. " (He laughed). "People were paying crazy prices for those coins - double the spot price of silver!"

Bill: "You're joking?"

Owner: "I'm serious! It was crazy, man! I guess people figured if the whole banking system shut down or something, those silver eagles would come in handy."

Bill: "Yeah, but why the Eagles?"

Owner: "Guess it was because Silver Eagles are so well-recognized. And they have that U.S. government guarantee."

Bill: "Man! I had no idea! I thought silver was silver..."

A this point in the conversation, I moved away (lest they think I was eavesdropping, LOL!). When I got home that day, I did a little research on Silver Eagles and it turns out what the shop owner told the customer was true.

At the end of 1999, at the height of the Y2K scare American Silver Eagles were fetching HUGE premiums. The spot price of silver at that time was around $6.50. But Silver Eagles were commanding prices up to $12.50 an ounce!

Meanwhile, the Canadian Silver Maple leaf coin, an equally lovely silver bullion coin with a higher silver purity, was only commanding prices of $7.50 on the market.

Like the coin shop owner said, the reason investors were more than willing to pay the huge premium for the American Silver Eagle and not the Silver Maple leaf coin was because they believed in the event the banking system was unable to function, the silver Eagle coin would be more readily accepted for bartering purposes!

And the reason investors felt the Silver Eagle would be more readily accepted was because of their United States government guarantee and worldwide recognition! Of course, after the Y2K scare passed, premiums on the coins quickly returned to normal but anyone who would have sold during this period would have done fabulously!

Could a situation like this happen again?

Yes, the economy appears to be on the mend but the risks are still out there. In the event of a widespread financial panic, would the American Silver Eagle once again be the go-to silver bullion coin? And possibly command a huge premium over other silver coins? Who knows? But, as Mark Twain once said: "The past doesn't repeat itself - it rhymes!"

Order your 2011 American Silver Eagle coins today! Just go to: ==> http://BullionBargains.us

By Christina Goldman