International, Portugal & Madeira news from Paul Abbiati:
Thanks to Peter again for contributions in the comments section including comments on the reimbursement of medicines at health centres
Flights from Zurich to Madeira from April 2012
In Summer 2012 Edelweiss Air, the Swiss Charter Company will operate weekly flights from Zurich, Switzerland’s largest city and one of the world’s largest financial centres to Madeira. Edelweiss Air also operates flights to the Canaries, Caribbean and the Maldives Islands.
Showcase of Portuguese national home made goods and services
‘Made in Portugal’
Search for diver continues
Search for diver who disappeared off the coast of Ribeira Brava/Campanario on Monday afternoon continues
Dispute between the Government of Madeira and the National Association of Pharmacies 77m euro debt
The dispute between the Government of Madeira and the National Association of Pharmacies over the payment of a 77m euro debt is in the headlines of many Portugueses national daily newspapers on Tuesday.
Chinese pay 50% more to get REN
From Portugal Daily View:
“Chinese pay 50% more to get REN..writes Jornal de Negócios, about the proposal from Chinese utility State Grid to buy 25% of the Portuguese energy grid operator. The newspaper says that the bid is close to the €3 per share…”
Portuguese exports up 12.8% on last year, but real economy under pressure
From Portugal Daily View:
“In the three-month period through to November 2011, Portugal raised its level of exports by 15.1% while imports fell back 3.6% according to preliminary figures released Monday by the National Statistics Institute (INE).
This resulted in an overall negative trade deficit for the quarter of €3.10bn, but in itself down €2.04bn on the same period in 2010 when the deficit stood at €5.13bn.
According to the INE, this meant the level of imports covered by exports advanced to 78.6%, up 12.8% on the same period of last year.
Exports to EU member states rose by 11% with imports down 8.4% while non-EU exports put on 28% against a rise of 11.9% in imports, largely attributable to the high prevailing price of crude oil.
“Excluding fuels and lubricants, exports were identified as rising by 23.7% while imports fell back 6.6% on the same period in the previous year”, the INE concluded.
Thus, the trade deficit, excluding fuels and lubricants, recorded a €765.5m surplus that swings to a deficit of €877.4m when factoring in those fossil fuel costs.
Furthermore, in November, construction costs went up by 1.2% on the previous month with a dip in the ongoing material components index, standing at 2% in November against 2.2% in October, offset by a slight pick up in labour costs that rose by an annualised 0.7% against 0.6% in October, also according to the INE.
While international demand seems to be sustaining an improving export position, the domestic situation remains under stress
Furthermore, while international demand seems to be sustaining an improving export position, the domestic situation remains under stress according to Manuel Barata Simões, spokesperson for the Portuguese Industrial Chocolate Association (ACHOC).
Simões was swift to dismiss the myth that chocolate was recession-proof affirming that “chocolate does not display any special resistance to crisis” and forecasting the sector faced a 5% contraction in sales in 2012.
According to the association’s figures, the various dimensions to the chocolate sector represent a €200m market, with per capita annual consumption of 1.5 kilos, around half the level of other European countries such as Spain, Italy or France.”
Portugal Daily View link http://www.portugaldailyview.com/
Bloomberg article on Madeira; Embraer to create 2,000 jobs in Alentejo region; Alentejo to become hub of Portugal’s emerging aerospace sector;
‘Madeira’s Missing Yachts Fall Victim in Portugal to Europe’s Debt Crisis’
Embraer’s investment set to transform Portugal’s fledgling aerospace industry
From ‘Flight Global.com’
“Embraer’s direct impact on the local economy will be significant.
Embraer’s investment amounts to almost €150 million ($195 million) and the factories will eventually have a workforce of 600. Fuchs says that figure will be “multiplied several times” in terms of wider employment. “We believe we will create jobs for 2,000 people indirectly in the region,” he says.
image of Embraer aircraft from Wikicommons
Alentejo to become hub of Portugal’s emerging aerospace sector
For a region largely reliant on agriculture, services and tourism, becoming the hub of Portugal’s emerging aerospace sector was a prize worth fighting for; Fuchs says support from the local mayor and authority has been “tireless”…”
All images from Diario Newspaper unless otherwise stated