Portugal–US Economic Development ·
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Saturday, 25 October


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Jornal de Negocios

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The Economist

  • Gluten-free food: Against the grain

    pMCDONALD’S is by no means the most accommodating of fast-food chains to people with special dietary requirements. Many of its restaurants in America and Britain do not even serve a meat-free burger for vegetarians. But in a week-long trial ending on October 21st, the chain’s British outlets offered a new burger whose fillings did not contain gluten, an allergen commonly found in wheat, with a view to making the new product a permanent addition to its menu.At first, that may seem to be an odd decision. Vegetarians outnumber those who avoid gluten. But the food industry is finding that there is no longer much money to be made in making meat-free products. Sales of alternatives to meat have flattened in America in real terms since 2008; in Britain they have plunged by a third.div class=content-image-full img src=http://cdn.static-economist.com/sites/default/files/imagecache/full-width/images/print-edition/20141025_WBP004_0.jpg alt= title= width=595 height=335 / span class=captionFor intolerant shoppers/span /divConsumer demand for products without gluten, however, is rising rapidly. Health-conscious Americans were first to avoid it in significant numbers. Sales of gluten-free food and drink there have surged from $5.4 billion to $8.8 billion over the past two years, according to Mintel, a market-research firm. They are set to grow a further 20% by.../p
  • Japanese carmakers: Lots of oomph

    pONE of the conundrums of the car business is that five smaller Japanese firms continue to prosper alongside three giants, Toyota, Nissan and Honda. In theory, those in the second division—Mazda, Mitsubishi, Suzuki and Subaru—should long ago have merged with rivals at home or abroad, or fallen by the wayside. Daihatsu is already controlled by Toyota, which has a 51% stake in the firm. They all sell 1m-2m vehicles a year. Sergio Marchionne, boss of Fiat Chrysler, once said that 6m was the minimum required for carmakers to have a hope of turning a profit.The second-tier firms seem more determined than ever to disprove the notion that global scale and huge volumes are indispensable. Suzuki is a relative minnow with a strong presence in only one big market outside Japan—India. But not long ago it withdrew from an alliance with Germany’s Volkswagen (VW), which could have helped it sell small and cheap vehicles in developed markets overseas.Mazda, an even smaller firm, gladly parted ways with Ford. The American carmaker began to wind down its stake in 2008 to raise cash and avoid bankruptcy. The two firms had worked together since 1979. Subaru, part of Fuji Heavy Industries, a conglomerate, reportedly chafes at the 16.5% stake that Toyota, the world’s biggest carmaker, holds in it. One obvious solution for the sub-scale firms—mergers with the biggest three—seems a distant prospect.../p
  • Information technology: A fork in the digital road

    pdiv class=content-image-float-290 img src=http://cdn.static-economist.com/sites/default/files/imagecache/290-width/images/print-edition/20141025_WBD002_0.jpg alt= title= width=290 height=478 / /divIMAGINE that Apple had folded in the mid-1990s, as some predicted at the time. Perhaps music downloads would still be a hassle, smartphones a novelty and tablet computers two inches thick. But one thing would certainly be different: the information-technology industry would now lack a leading light.Thanks to record sales of its recently upgraded iPhones, on October 20th Apple surprised analysts by revealing excellent quarterly results. It was almost alone among the big technology firms in doing so. Most others reporting in recent weeks seem to be in something of a funk: profits have fallen at Google as well as IBM, SAP and VMWare. Does this mark the start of a downturn for the tech industry?In some cases the reasons are specific to the companies. IBM seems to have done more financial engineering than the real kind in recent years. Since 2000 it has spent over $100 billion on buying back its own shares. It has shed less-profitable assets but now lacks a big fast-growing business to drive growth (its bet on artificial intelligence, called Watson, has yet to take off, for instance). The earnings of VMWare, a company that makes corporate software, dropped because.../p
  • China’s handset manufacturers: Smartening up their act

    pdiv class=content-image-full img src=http://cdn.static-economist.com/sites/default/files/imagecache/full-width/images/print-edition/20141025_WBP001_0.jpg alt= title= width=595 height=335 / /divIF YOU want to understand how China innovates, look no further than its hyper-competitive market for smartphones. Though Samsung and Apple dominate the business globally, the technology superpowers are being squeezed in China by aggressive local manufacturers. Now Chinese firms are selling their handsets abroad in ever-greater numbers and a battle is set to be fought that will reshape the global marketplace for handsets.China’s smartphone-makers have a ready launchpad. Thanks to the frugal but feature-rich offerings from local firms, domestic sales have exploded. Over 100m smartphones were sold in the second quarter, accounting for over a third of global sales and making China the world’s largest market. Strikingly, eight of the top ten vendors were local firms. Xiaomi, a startup that only sells online, shot past Samsung to become the leading brand of smartphones in the country. After selling 15.4m in the second quarter (see chart), the firm is on track to peddle 60m handsets this year, and wants to sell 100m in 2015.div class=content-image-float-290 retina-290.../div/p
  • Schumpeter: A guide to skiving

    pdiv class=content-image-full img src=http://cdn.static-economist.com/sites/default/files/imagecache/full-width/images/print-edition/20141025_WBD000_0.jpg alt= title= width=595 height=335 / /divTHE best way to understand a system is to look at it from the point of view of people who want to subvert it. Sensible bosses try to view their companies through the eyes of corporate raiders. Serious-minded politicians make a point of putting themselves in their opponents’ shoes. The same is true of the world of work in general: the best way to understand a company’s “human resources” is not to consult the department that bears that ugly name but to study the basic principles of one of the world’s most popular, if unrecognised, sciences: skiving.The first principle of skiving (or shirking, as Americans call it) is always to appear hard at work. This is the ancient jacket-on-the-back-of-the-chair trick: leave a coat permanently on display so that a casual observer—a CEO practising “managing by walking around”, for example—will assume that you are the first to arrive and the last to leave. The skill of skiving is subtle: ensure you are somewhere else when the work is being allocated. Successful skivers never visibly shy away from work: confronted with the inevitable they make a point of looking extremely eager. This “theatre of enthusiasm” has fooled almost.../p
  • American television: Switching channels

    pdiv class=content-image-full img src=http://cdn.static-economist.com/sites/default/files/imagecache/full-width/images/print-edition/20141025_WBD001_0.jpg alt= title= width=595 height=335 / /divONE of the most popular television shows in America this autumn is called “How to Get Away with Murder”, about a law professor and her students, who become involved in a mysterious killing. Most cable subscribers will find the title an appropriate description of their viewing experience. Couch potatoes are forced to spend around $90 a month for their subscription. They receive over 160 channels, most of which they skip straight past. By one estimate the cost of a cable subscription has more than doubled since 2000. All that for the privilege of doing business with companies that consistently rank in the lower regions of customer-satisfaction surveys.This month the plot took a twist. HBO, a premium cable channel, announced that, starting next year, it would offer its programming, previously only available through pay-television distributors, as a stand-alone product delivered to anyone with an internet connection. CBS, a broadcast network, recently launched a similar service. There are other signs that a “lighter” bundle may be available soon. Earlier this year DISH, a satellite provider, won the rights to sell Disney’s content, including ESPN, a sports channel, as.../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