Portugal–US Economic Development ·
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Events & Notices

Tuesday, 27 January


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Jornal de Negocios

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The Economist

  • Foreign investment in Africa: A sub-Saharan scramble

    pdiv class=content-image-full img src=http://cdn.static-economist.com/sites/default/files/imagecache/full-width/images/print-edition/20150124_WBD001_0.jpg alt= title= width=595 height=335 / /divWHEN Paul Kavuma began approaching private companies in Africa a decade ago to suggest investing in their businesses and improving the way they were run, he was often shown the door. “They were offended, asking if I thought they were broke,” says the founder of Catalyst Principal Partners, an east Africa-focused fund manager. Even when, after hours of explaining the merits of private equity, Mr Kavuma changed business owners’ minds, many still struggled with the idea that within a few years he would sell the stake he had bought. “When we exited, some people thought we had lost confidence in them, rather than that we’d finished what we’d come to do,” he says.Today, much has changed. African entrepreneurs now boast about being approached by one of the many private-equity investors scouring the continent for opportunities. And it is the financiers, or at least those from beyond Africa, who are having to adapt.nbsp;Money managers on Wall Street and in the City of London are taking crash courses in Swahili and learning to find Ouagadougou on a map.A decade ago, African countries were among the beneficiaries of a broader boom in investment in emerging markets worldwide.../p
  • Schumpeter: Cheap and cheerful

    pdiv class=content-image-full img src=http://cdn.static-economist.com/sites/default/files/imagecache/full-width/images/print-edition/20150124_WBD000_0.jpg alt= title= width=595 height=335 / /divVICTOR HUGO once said that “nothing can stop an idea whose time has come”. He failed to add that a lousy product launch can delay it. In the first decade of this century it seemed that frugal innovation’s time had indeed arrived: to meet surging demand from new consumers in emerging economies, innovative firms in those countries were stripping products of their fripperies and cutting their cost drastically. The new world had at last produced a big, new management idea.Then along came the Tata Nano. The $2,000 car bore the imprimatur of one of the emerging world’s best companies. But some of the earliest Nanos burst into flames. Although Tata Motors fixed its engineering problems, aspirational Indians made it clear that they did not want to be seen driving “the world’s cheapest car”. Frugal innovation looked as if it might go from promising to passé without having made any impact.In a new book, “Frugal Innovation: How to Do More with Less”, Navi Radjou, a consultant, and Jaideep Prabhu, an academic at Cambridge University’s Judge School of Business, reassure readers that this is not the case. (Its publisher, Profile, has a business relationship with.../p
  • Telecoms in Myanmar: Mobile mania

    pON THE outskirts of Bago, a scruffy town in southern Myanmar, a tall, pale Scandinavian-looking man squints up at a four-legged telecoms mast that has recently sprouted next to a mud track. He is Petter Furberg, the boss of the Burmese operations of Telenor, a Norwegian mobile-telecoms operator. He concludes that more towers will be needed to provide the town with adequate coverage, and asks his contractors to put up some more. The job done, Telenor switched on its service in Bago on January 13th.Myanmar, with a bigger population than Spain, is one of the last great “unphoned” countries. In 2013 its military-backed government invited bids for the right to build its first modern mobile networks. The services that Telenor and Ooredoo, a Qatari rival, began to roll out last year are a crucial step towards reanimating an economy anaesthetised by five decades of dictatorship. Studies by Ericsson, a network-equipment supplier and McKinsey, a consulting firm, suggest that Myanmar’s mobile roll-out could create more than 90,000 new jobs and help to sustain annual economic growth of 8%-plus.Locals once paid $1,500 each for SIM cards raffled by the state network, and coverage was scant. Now a SIM costs just $1.50, and new towers are popping up everywhere. Myanmar Posts and Telecommunications, the state-run incumbent, is transforming itself in partnership with KDDI and Sumitomo, two.../p
  • Italian football: More than just trophy assets

    pdiv class=content-image-full img src=http://cdn.static-economist.com/sites/default/files/imagecache/full-width/images/print-edition/20150124_WBP002_0.jpg alt= title= width=595 height=335 / /divFOR all their fans’ passion, Italian football clubs struggle to make profits. In the 1990s Italy’s Serie A was the most glamorous and high-profile of Europe’s five main football leagues; it has since fallen, in revenue terms, from second to fourth place. In this year’s Football Money League, published on January 22nd by Deloitte, a consulting firm, three of the four Italian clubs in the worldwide top 20 dropped at least one position. However, there are signs of a turnaround in the clubs’ fortunes.Italy’s league fell behind its peers partly because of the complacency of clubs’ owners. Tycoons treated them as trophy assets more than businesses. The clubs suffered chronic losses and corruption scandals, and their stadiums were left to decay. But Italy’s sustained economic downturn and the introduction by UEFA, European football’s governing body, of rules to stop clubs habitually spending more than they earn, have been among the main reasons why a number of clubs have changed hands. Foreign investors are trickling in.For those seeking to turn around a club’s finances, one of the most important tasks is to boost match-day takings, which account for 11% of total.../p
  • America’s oil industry: The tough get going

    pdiv class=content-image-full retina-595 img src=http://cdn.static-economist.com/sites/default/files/imagecache/original-size/images/print-edition/20150124_WBC784_0.png alt= title= width=1190 height=624 / /divPRIDE of place in this week’s Houston Auto Show goes to “Texas Edition” trucks: hulking vehicles, selling for $50,000 and upwards, specially designed for the Lone Star state’s expansive tastes. Allout Offroad customises them further, lifting the chassis to fit outsize wheels and tyres. They are selling “like crazy”, says the firm’s boss, Chance Kamp. “People can afford to put gas in them now.”Houston, America’s fourth-largest city, is poised between the joys of cheap fuel and the pain of the industry which produces it. Dave Lesar, chief executive of Halliburton, which provides drilling and pumping services, says its customers are cutting spending by 25-30%. On January 21st BHP Billiton, a giant miner and oil producer, said it would cut the number of its onshore oil rigs in America by 40%. A so-far modest fall in the total number of active rigs (see first chart) is set to accelerate.A survey of 225 companies by Barclays, a bank, forecasts that if crude settles in a range of $50-60 a barrel (it was below $50 in the middle of this week) the industry worldwide will cut its capital spending by 9% this year, to around $620 billion.Consolidation has been.../p
  • Foreign firms in China: You’re still welcome

    pdiv class=content-image-float-290 retina-290 img src=http://cdn.static-economist.com/sites/default/files/imagecache/original-size/images/print-edition/20150124_WBC790.png alt= title= width=580 height=598 / /divTHE bosses of foreign firms with operations in China grumble that their lives have got harder of late. China used to be a frontier market offering endless double-digit growth. Officials put out the welcome mat, and were open to wining and dining. Regulators were no more bothersome than in other emerging markets.Now, growth is slowing: official data released this week confirm that the economy grew by 7.4% last year, the slowest rate in 24 years. A crackdown on official corruption has made it impossible to win friends in government. And antitrust authorities have taken a tough line with foreign carmakers, drugmakers and other firms that had hoped their em class=Italicguanxi/em (connections) offered them protection. Many foreign bosses are now convinced that the golden age for multinationals in China is over.That may explain the charm offensive the government launched this week. The prime minister, Li Keqiang, led a delegation of Chinese worthies to the World Economic Forum’s meeting in Davos, Switzerland. He promised the assembled global business elite his country would “treat Chinese and foreign companies as equals” and “rigorously reject.../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