Portugal–US Economic Development ·
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Monday, 20 October


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Jornal de Negocios

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The Economist

  • Grocery retailing in India: A long way from the supermarket

    pdiv class=content-image-full img src=http://cdn.static-economist.com/sites/default/files/imagecache/full-width/images/print-edition/20141018_WBP001_0.jpg alt= title= width=595 height=335 / /divON THE morning of Dussehra, a Hindu festival, Amar Singh is explaining why he stocks “exotic” produce, such as broccoli and iceberg lettuce, at his vegetable stall in Thane, a commuter city north of Mumbai. “I have to keep the customer in my grasp,” he says. Mr Singh has traded hereabouts for 20 years, and seems unperturbed by the supermarket chains whose branches have recently sprouted nearby. They are cheaper, he says, but they cannot match him on quality. As he speaks he sorts a tray of beans, discarding stringier ones. His assistant, Dabloo, has spent the early hours going through sacks of produce at a wholesale market to pick the best stuff.div class=content-image-float-290 retina-290 img src=http://cdn.static-economist.com/sites/default/files/imagecache/original-size/images/print-edition/20141018_WBC015.png alt= title= width=580 height=634 / /divThe 10m-12m small traders like Mr Singh are a protected species. Complex and changeable rules governing foreign direct investment have made it tricky for rich-world chains to set up shop in India. They might count themselves lucky. India’s home-grown supermarkets account for only 2% of food and.../p
  • Schumpeter: Pointers to the future

    pdiv class=content-image-full img src=http://cdn.static-economist.com/sites/default/files/imagecache/full-width/images/print-edition/20141018_WBD000_0.jpg alt= title= width=595 height=335 / /divPROGNOSTICATORS have a bad record when it comes to new technologies. Safety razors were supposed to produce a clean-shaven future. Cars were expected to take off and fly. Automation was meant to deliver a life of leisure. Yet beards flourish, cars remain earthbound and work yaps at our heels.The internet is no exception. Anyone looking for mis-prognostications about it will find an embarrassment of riches. The internet was supposed to destroy big companies; now big companies rule the internet. It was supposed to give everyone a cloak of anonymity: “On the internet nobody knows you’re a dog.” Now Google and its like are surveillance machines that know not only that you’re a dog but whether you have fleas and which brand of meaty chunks you prefer. We can now add two more entries to the list of unreliable forecasts about the internet: that it would make location irrelevant and eliminate middlemen.A decade or so ago pundits (ourselves included) said the internet would mean the “death of distance” and make the world “flat”, ie, eliminate geographical differences. Amazon and Infosys built global empires in bookselling and IT services respectively. But now it is harder.../p
  • German business and government: Still cosy?

    pdiv class=content-image-full img src=http://cdn.static-economist.com/sites/default/files/imagecache/full-width/images/print-edition/20141018_WBP004_0.jpg alt= title= width=595 height=335 / span class=captionWho will trumpet German business?/span /divA REPORT bemoaning the lack of transparency surrounding the influence of business on German politics, published on October 13th by Transparency International, a corruption watchdog, must have struck lobbyists as dark humour. The customarily close relationship may be opaque but it is scarcely yielding results. Businessmen have rarely felt more aggrieved by public policy, which they feel is doing little to help as the economy stumbles.On October 14th, the government slashed its growth forecasts to a laggardly 1.2% for this year, and 1.3% in 2015. Geopolitical uncertainty, especially the Ukraine conflict, is clouding export forecasts. Exports are now expected to grow by just 3.4% this year and 4.1% in 2015. That is slower than world trade, and will eat into Germany’s share.Investors and businesses are alarmed. After briefly topping 10,000 in the summer the DAX index of big stocks has since fallen by over 14%. The Ifo index, a closely watched measure of the business climate, has dropped since April, to its lowest point since April 2013. Though construction is holding up, manufacturing, retailing and.../p
  • Business in Myanmar: Let a million factories rise

    pdiv class=content-image-full img src=http://cdn.static-economist.com/sites/default/files/imagecache/full-width/images/print-edition/20141018_WBP003_0.jpg alt= title= width=595 height=335 / span class=captionClearing a pathway to growth/span /divPREPARATIONS for the first section of the Thilawa Special Economic Zone (SEZ) included clearing nearly 400 hectares of land and building roads to a nearby port. The industrial park is scheduled to open in the middle of next year and some of the 22 companies set to move in will begin building their factories by the end of the month. Yet the most immediate beneficiary will not be Myanmar’s economy. Takashi Yanai, head of the Burmese-Japanese joint venture developing Thilawa, jokes that the monastery sitting in a finger of forest jutting into the park has much to gain. “You cannot touch a monastery in this country,” says Mr Yanai. With every corporate groundbreaking will come a donation to the monks that may one day pay for a grand golden stupa.div class=content-image-float-290 retina-290 img src=http://cdn.static-economist.com/sites/default/files/imagecache/original-size/images/print-edition/20141018_WBM952.png alt= title= width=580 height=816 / /divIf the monks represent the country’s past, the tenants of Thilawa and the two other SEZs in the works (see map) are bets on its future..../p
  • Power distribution: Grid unlocked

    pAMERICA’S electricity grid is a mind-boggling mess. For one thing, it is two large and three small grids, rolled into one. Two types of organisation, independent system operators and regional transmission bodies, control their slices, which may cover several states. Each state has its own utility laws. Then there are eight regional reliability councils that work with the North American Electric Reliability Corporation, which is overseen by the Federal Energy Regulatory Commission. The two break down the grid into different, overlapping regions.Nobody knows the true state of the national grid until something goes badly wrong, as it did in October 2012 when Hurricane Sandy left almost 8m people powerless, some for weeks. The number of big outages, defined as those affecting more than 50,000 people, has more than doubled in the past ten years.America’s power industry talks about creating a “smart grid”, a digitally connected network, automatically monitored and balanced, to solve the problems. This would involve individual utilities—the country has over 3,000—putting in modern control systems and installing “smart meters” to track consumption. This helps to manage demand, improves efficiency and enables renewables to connect to the grid. But it has little effect on the grid’s overall ability to handle weather-related onslaughts that hit wide areas or a big cyber-attack..../p
  • Foreign entrepreneurs in China: Small is not beautiful

    pdiv class=content-image-float-290 img src=http://cdn.static-economist.com/sites/default/files/imagecache/290-width/images/print-edition/20141018_WBD001_0.jpg alt= title= width=290 height=295 / /divENTREPRENEURS do more with less, proclaimed Fiona Woolf this week on a visit to Shanghai. Lady Woolf, the current Lord Mayor of the City of London, was speaking at an academic conference devoted to helping small and medium enterprises (SMEs) flourish in China. These businesses face all of the same obstacles as big firms trying to enter China but have far fewer resources.Intellectual-property rights are hard and costly to defend. The tangle of red tape involved in tax, compliance, customs clearance, business registration and so on can overwhelm small firms. Alexandra Voss of the German Chamber of Commerce points out that local firms often work overtime and on weekends during negotiations—and that foreign SMEs with staff shortages and little local knowledge can quickly get overwhelmed.A bigger snag is that getting China right demands a huge amount of attention from the top brass, explains Franklin Yao of Smith Street Solutions, a consulting firm that advises firms keen to enter China. The problem is that the market is enormous, complicated and opaque. It is also hyper-competitive, thanks to a proliferation of both low-cost locals and deep-pocketed multinational.../p

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Financial Times — Europe

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Portugal-US Chamber of Commerce - slideshow image

Pan-European Days at the New York Stock Exchange, May 2014

Chamber board member Ricardo Caliço attended the event on behalf of the Chamber and reports back that the three-day conference was aimed at showcasing investment opportunities in Europe. This year, the program included the European Economic Forum at the New York Stock Exchange, featuring representatives from European Union, chief economists from major financial institutions, and other high-level thought-leaders to discuss the latest developments in the major European economies. The Program also included an investor conference at the Waldorf Astoria hotel organized by, ING, KBC Securities, Millennium BCP/Auerbach Grayson and Societe General. The investor conference provided opportunities for Euronext-listed companies from Portugal, Belgium, France, and Netherlands to meet privately with North America based institutional investors. The 13 Portuguese companies presented in the event were: BES, BPI, CTT, EDP, EDPR, Espirito Santo Saude, Galp, Impresa, Jerónimo Martins, Millennium BCP, Mota Engil, REN and Zon. The Portuguese Government was represented by Isabel Castelo Branco, Secretary of State of Treasury, and by the Treasury and Debt Management Agency. See more details here.

Posted on 2 Jun 2014
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Portuguese Artist Julião Sarmento to Exhibit in New York City

The Sean Kelly Gallery will host an exhibition by Portuguese artist Julião Sarmento, from March 28 - May 3, 2014. Further details can be found here.

Posted on 21 Mar 2014
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Chamber Attends Workshop on the New York Nonprofit Revitalization Act of 2013

New York State’s laws governing charitable and other nonprofit organizations date from the 1960s. The New York State Attorney General’s Office has undertaken revisions in the form of the New York Nonprofit Revitalization Act of 2013. The changes have two main purposes: reducing burdens on nonprofits through the modernization of statutory requirements; and increasing public trust in the nonprofit sector by strengthening board governance and enhancing Attorney General enforcement powers. Most provisions will take effect effective July 1, 2014. As a 501c4 nonprofit corporation, the Portugal-US Chamber of Commerce will also need to adhere to new regulations. More information about the Revitalization Act of 2013 can be found here.

Posted on 6 Mar 2014
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Vista Alegre Exhibits at the 2014 San Francisco International Gift Fair

Visit Vista Alegre’s booth at the San Francisco International Gift Fair, 15-18 February 2014. More information about the Fair can be found here.


Posted on 17 Feb 2014
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Eight Portuguese companies to visit New York City, 4-6 February 2014

In collaboration with the Associacao Comercial de Lisboa (ACL) and the Confederacao Internacional de Empresarios Portugueses (CIEP), the Chamber is hosting eight Portuguese companies from the textile, technology, artisanal foods, olive oil, wine, spirits, shoe wear, and lighting design sectors. The firms will meet with U.S partners based in New York and New Jersey, and will also meet with Portuguese and U.S. officials and representatives of the Portuguese business communities. For further details, contact the Chamber at .(JavaScript must be enabled to view this email address).

Posted on 28 Jan 2014
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Our Organization

The Portugal–US Chamber of Commerce in New York was founded in 1979 to stimulate economic development, trade and investment, and cultural exchange between the United States and Portugal. As a member of the Association of Portuguese-American Chambers of Commerce (APACC), it works closely with its counterparts in Portugal, Canada, and across the United States to promote shared interests in Portugal and expose the vast economic opportunities of the country. The Chamber provides its members ongoing opportunities to network with individuals also engaged in Portugal-US affairs as well as numerous channels by which they can obtain essential bilateral support and information.

Membership Benefits

Membership in the Chamber is open to all individuals who are interested in building a strong economic partnership between Portugal and the United States. Current members range from small businesses to large corporations in the fields of banking and finance, construction, communications, education, import/export, law, and transportation, to name a few.

Membership benefits include:

  • Frequent Chamber events that promote networking and foster strong community ties
  • Access to prominent business and government leaders
  • Alerts of noteworthy cultural and social events in New York City
  • Business luncheons and seminars to expose members to exciting new economic opportunities
  • Access to online resources and members-only directory