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Friday, November 03, 2006

 
Title: Weekly Portuguese Press Review by Humberto Ferreira

Daily (DN) Diario de Noticias - Fri 03 Nov 2006 (since 1843) issue with 68 pages & ad section
Front page:
Title: Clients may demand from local banks reimbursement of excessive illegal round-off of interest rates
The Government issued new rules for calculating the taxes and costs collected from housing and real estate credit operations, after consumers' associations claimed banks were over charging them. It has been estimated that banks have added to profits between 73 and 198 million euros/year by summing 0.025 per cent when rounding up the taxes due. The new rule calls for a 0.0001 per cent round off of a euro as pattern for these calculations. When this law becomes effective, clients may request the bank for reimbursement of the amounts overcharged in the last years, if the court declares it as an illegal situation.
The Government also ruled now that banks, provided funds are available, should credit cheques deposited in the client's accounts automatically if drawn from an inhouse account, or 48 hours later if drawn from another bank included in the clearing house interbanking system.
Relations, in Portugal, among banks and clients are more clear from now on.

Other news on front page of DN:
Title: Radiation of electric lines over Amadora, Sintra and Cascais (suburbs of Lisbon) threaten health of population
Text focus on the lack of adequate studies in Portugal for protecting the radiation effects of the Energy Network of high tension distribution.

Title: New rules for carry-on baggage on interEuropean flights (further inside pages comment)

Title: EuroMillions pools: 131 million euros jackpot on Friday 03 Nov

Title: Spanish authorities launched a police search at BES bank in Spain, under suspicion fou money laundering

Title: New complementary rules for renting houses published in the Official Bulletin
The Official Bulletin has issued the last rules approved to boast he house rental market in Portuguese towns. Owners may now request official inspections to assess the fiscal value of houses, flats and buildings, in order to increase rents.

Title: Chocolate Festival in Obidos
Comment - Ten days of sweet fun for children and adults. The local town council of this walled town has spent 500 thousand euros with this sweet tooth annual attraction! A very popular domestic event!

Inside Pages of DN's issue 03 Nov 2006:
Title: Spanish police invades Espirito Santo Bank in Madrid
Comment - I wonder if there was a Spanish bank under suspicion in this case, if they would close it on two week days, under the TV cameras filming on the spot the police operation. There were more TV people on the site than Guardia Civil members. It happens that one was the French banks BNP Parisbas iand the other was the Portuguese Espirito Santo (BES). BES agency in Barcelona was also closed temporary for business, preventing clients to use the facilities and services on week days. Previously (a few years ago,, when a Spanish bank was suspected of irregularities, the authorities took over the required data, documents and computers away from nosy TV and newspapers cameras!
Portugal has just five banks operating in Spain: Banco Caixa Geral (CGD under management of our public sector), Espirito Santo, BPI, Finantia and Banco Privado Portugues- BPP (these three limiting their business to private banking). The five together hold a share of 1% of the total Spanish banking business.

Title: Lisbon receives leaders of the World communist and Workers Parties
An important meeting of worldwide Communist Parties takes place in Portugal, on Nov 10/12. Lisbon hosts, amongst other leaders of the movement, Blade Ndzimande from South Africa, Aleka Paparica from Greece, Guenadi Ziugannov from Russia, and Fernando Estenoz from Cuba. All will be guests of Jerónimo Sousa, head of Portuguese communists. The program calls for discussions about Threats and Potential of the International Situation and the Strategy of Imperialism!

Title: First Election in the Catalonian Nation
Nationalist leaders try negotiations in Barcelona with partners (or adversaries) so they may rule Catalonia under a coalition autonomy government. Socialists (PSC) with 29% and 37 members in the new Parliament and the leftist ERC (Republican Left of Catalonia) with 14% and 21 memberselectedd are the the possible partners of the CiU party.

Title: Government creates company to manage fire fighting aircraft in Summer
There is still no confirmation about the winner of the tender launched to purchase aircraft and helicopters to the Portuguese Civil Protection Service. To avoid in future chartering about 40 units every year to fight the intense bush fire season throughout the country. But the Government is already creating a new public company to manage the new fleet. The short list includes two candidates: the proven Canadair aircraft and the prototype of the Russian jumbo Beriev, which had its trial tests in August in Portugal. No information yet available about the choice of helicopters.

Title: Airport Security in Europe
Comment - As from Nov 6, passengers boarding flights at European airports my be asked, at gate check-points, to try on their skin or to drink the liquids (water, juice, perfume, gel, toothpaste, creams, etc.) which they carry on to the cabin in one plastic transparent bag measuring 20 by 19 cm. Each flask may not exceed 100 ml. Most perfumes and cosmetics are marketed in 50 ml and 100 ml bottles. So these are within this allowance. But toothpaste is restricted to 35 ml - which is a medium size pack. All manufacturers need to adapt rapidly to these new rules, producing and distributing suitable packs. Safety is of utmost importance. But this is another hard blow on duty free sales - after Brussels decided a few years ago to put and end to duty free sales for intraEuropean flights. I wonder how much profit did the Treasury of each EU Member State collect in revenue over the previous sales tax from Duty Free Sales applicable to brands, outlets and clients? Since then, the costs made me prefer to visit some sophisticated City Shopping Centres (available all over Portugal and other countries) and shop there for international brands which I used to bring home as souvenirs! They are cheaper and attendance is far better. The new rules provide that duty-free articles may be carried if purchased at airport outlets or on transcontinental flights - where the duty free concept is still on - provided they are for non European destinations and packed in special non violatable bags available at airports and on board, but this is just for direct point-to-point flights. If the plane makes a stopover or if you need to take a connecting flight to your final destination in Europe or in North America, these purchases are confiscated.This is the great new thrill under the 21st Century travel banner!

Title: Hot Air Baloons Flying in Alentejo
The International Festival of Hot Air Baloon Flying takes place from Sunday 05 Nov to Sat. 12 Nov. There are 35 crews registered. They will be flying - weather permitting - over the following towns: Avis, Alter do Chao, Castelo de Vide, Crato, Fronteira, Monforte, Ponte de Sor and Nisa. It is the 10th edition of this event. The first festival took off in 1997. Over 1000 free flights are contemplated.


Title: National Horse Show in Golegan
The 31st Portuguese Horse Show runs from Friday 03 to 12 Nov in Golegan - famous Ribatejo town known for its horse sportmanship spirit. It is one of the best horse shows in Europe. There are various tournments, presentation of teams, equipments and horses, and the National Championship of Horse Riding. Also transactions of the valued Lusitano horses.


Title: as noticias - the first Portuguese newspaper in the UK
Keystone Social Enterprises are the publishers of the first Portuguese newspaper in the United Kingdom. It is a fortnightly written in Portuguese, and it will be distributed free of charge at some 400 points around where Portuguese communities are concentrated.

Title: Double taxes
It has been estimated that Portuguese taxpayers pay 1300 million euros of VAT (value added tax) collected over other taxes included in the public selling price - as, for instance, in car fuel - where the VAT is collected over the heavy Tax on Petrol Products (ISP). The main items where there has been found double taxation are: Tobacco, Cars, Petrol, and Alcoholic Drinks.

Final comment - Not a single piece of news was found on this issue about Sagres, the Vincentine Coast or the Algarve!

POSTED BY HUMBERTO ON FRIDAY 03 NOV 2006 AT 19:48 (pm)







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