Options and Requirements for a potential market entry into Portugal with renewable energy technologies that are applicable for heating and cooling of buildings

NSBE-UNL

Evaluation of the use of real-time PCR for human T cell lymphotropic virus 1 and 2 as a confirmatory test in screening for blood donors

INTRODUCTION: HTLV-1/2 screening among blood donors commonly utilizes an enzyme-linked immunosorbent assay (EIA), followed by a confirmatory method such as Western blot (WB) if the EIA is positive. However, this algorithm yields a high rate of inconclusive results, and is expensive. METHODS: Two qualitative real-time PCR assays were developed to detect HTLV-1 and 2, and a total of 318 samples were tested (152 blood donors, 108 asymptomatic carriers, 26 HAM/TSP patients and 30 seronegative individuals). RESULTS: The sensitivity and specificity of PCR in comparison with WB results were 99.4% and 98.5%, respectively. PCR tests were more efficient for identifying the virus type, detecting HTLV-2 infection and defining inconclusive cases. CONCLUSIONS: Because real-time PCR is sensitive and practical and costs much less than WB, this technique can be used as a confirmatory test for HTLV in blood banks, as a replacement for WB.

Real-time collaborative editing of OutSystems DSL models

Real-time collaborative editing systems are common nowadays, and their advantages are widely recognized. Examples of such systems include Google Docs, ShareLaTeX, among others. This thesis aims to adopt this paradigm in a software development environment. The OutSystems visual language lends itself very appropriate to this kind of collaboration, since the visual code enables a natural flow of knowledge between developers regarding the developed code. Furthermore, communication and coordination are simplified. This proposal explores the field of collaboration on a very structured and rigid model, where collaboration is made through the copy-modify-merge paradigm, in which a developer gets its own private copy from the shared repository, modifies it in isolation and later uploads his changes to be merged with modifications concurrently produced by other developers. To this end, we designed and implemented an extension to the OutSystems Platform, in order to enable real-time collaborative editing. The solution guarantees consistency among the artefacts distributed across several developers working on the same project. We believe that it is possible to achieve a much more intense collaboration over the same models with a low negative impact on the individual productivity of each developer.

Portugal: o caminho entre o real e o virtual

A revolução tecnológica que se verificou a partir da década de 1980 e o fenómeno da globalização geraram alterações profundas nas sociedades contemporâneas. Desde então, praticamente todos os aspetos do seu quotidiano passaram a depender dos sistemas computorizados, que numa primeira fase estavam ligados em pequenas redes e começaram depois a ficar interligados através da Internet. Esta evolução para a Era da Informação mudou drasticamente o modo como se lida com os riscos. A virtualização do mundo real fez com que surgissem novas ameaças à segurança com origem no domínio cibernético, bem como por seu intermédio. Entretanto, o mundo Pós-Guerra Fria também alterou profundamente o sistema internacional e também viu surgir um conjunto de novos atores, estatais e não estatais, que vieram provocar instabilidade ao sistema, fosse por vontade própria ou como consequência dos acontecimentos. Atualmente, as ameaças à segurança são múltiplas e de natureza variada, sendo o ciberespaço um domínio utilizado pelos vários atores no sentido de desestabilizar a ordem instalada, como por exemplo através do ativismo político, mas também como meio para infringir danos. As capacidades cibernéticas passaram também a ser consideradas como mais uma opção para atuar em conflitos, principalmente pelas grandes potências. Neste contexto, o presente trabalho tem como objetivo analisar a abordagem em Portugal a esta nova realidade, em que a maioria, se não todas, das suas infraestruturas críticas dependem do bom funcionamento das ligações em rede, e em que estas são utilizadas por mais de metade da população portuguesa de forma regular.

A Fotografia Documental na Imprensa Nacional: o Real e o Verosímil

Nos últimos trinta anos da imprensa nacional, assiste-se a inúmeras mudanças no papel que a fotografia assume nas práticas editoriais dos jornais, influência da crescente generalização da fotografia digital. No final da década de 80 e início de 90 do século XX, investe-se na fotografia e compreende-se porquê. Ela é uma ferramenta poderosa para a criação de uma identidade editorial e para fidelizar leitores. Nunca a autoria do fotógrafo fora tão reconhecida nas redações como neste período, geralmente, sem comprometer o ideal do rigor jornalístico. A partir do século XXI, assiste-se a uma regressão. Esta tese pretende investigar a importância que foi atribuída à fotografia e ao fotojornalismo na imprensa, nas últimas três décadas, procurando determinar qual o grau de consciência que o fotógrafo tem das escolhas assumidas no ato fotográfico; como é que as opções do autor interferem na imagem final e como é que a fotografia jornalística lida com a questão do real e do verosímil? Para responder a estas e outras perguntas realizou-se noventa entrevistas que foram depois submetidas a uma análise qualitativa. Por mais consciência que o fotógrafo tenha da necessidade de ser objetivo e de retratar a verdade do acontecimento, pessoa ou lugar, a fotografia de imprensa é sempre a perspetiva de alguém que escolhe fragmentos da realidade para reportar ou documentar um acontecimento. O observador, com um olhar ingénuo e sem adotar uma atitude crítica perante a mimese do real, recebe a imagem como sendo a prova irrefutável de um momento que o texto, por si só, não consegue autentificar. É como se o Homem precisasse da legitimação visual para encontrar o seu lugar no mundo e nem a facilidade de edição na era do digital parece retirar à fotografia a crença numa verdade que os olhos não puderam testemunhar. Ironicamente e contra a ideia do senso-comum, a História prova que a dupla essência da fotografia de ser espelho e construção do real - mesmo na imprensa - não resiste à adulteração. Seja instrumentalizada pelo poder, seja para criar dramatismo ou atribuir heroicidade em determinadas cenas, em vez do registo da realidade, a fotografia mostra uma realidade verosímil. A História também demonstra que essa subversão acontece, mas não é um procedimento consciente. Isto porque o fotógrafo de imprensa assume diversas escolhas subjetivas de enquadramento, foco e composição sobre uma cena, não com o intuito de manipular, mas para arrumar o seu olhar sobre o mundo e mostrar o acontecimento numa moldura talhada pelo código ético e deontológico da profissão e pela linha editorial do órgão de comunicação onde exerce funções. Acima de tudo, esta investigação ambiciona confirmar se a confiança que o público deposita na imagem jornalística lhe é merecida

Malacological survey of Biomphalaria snails in municipalities along the Estrada Real in the southeast of the State of Minas Gerais, Brazil

INTRODUCTION: The increasing practice of ecotourism and rural tourism in the State of Minas Gerais, Brazil, highlights the importance of studies concerning the occurrence of potential intermediate hosts of Schistosoma mansoni. This study aimed to identify species of Biomphalaria snails in municipalities along the Estrada Real, an important Brazilian tourism project. METHODS: The specimens were collected in different water collections of 36 municipalities along the Estrada Real in the southeast of the State of Minas Gerais. Biomphalaria species were characterized using both morphological and molecular approaches. The research was conducted between August 2005 and September 2009 and all the sites visited were georeferenced using GPS. RESULTS: Six Biomphalaria species were found in 30 of the 36 municipalities studied: glabrata, tenagophila, straminea, peregrina, occidentalis and schrammi. The first three species of Biomphalaria, recognized as intermediate hosts of S. mansoni, were present in 33.3%, 47.2% and 8.3% of the municipalities studied, respectively. The mollusks were found in different types of water collections and no infection by S. mansoni was detected. The highest occurrence of Biomphalaria concentration was verified in the area covered by the Caminho Novo route (Diamantina/MG to Rio de Janeiro/RJ). CONCLUSIONS: Considering the occurrence of schistosomiasis in the State of Minas Gerais and the socioeconomic repercussions involved in the Estrada Real Project, this work focuses on the vulnerability of water collections due to the presence of Biomphalaria mollusks and emphasizes the need for epidemiological surveillance and sanitary and educational measures integrated with the local community and tourism sectors.

Rapid detection of Van genes in rectal swabs by real time PCR in Southern Brazil

INTRODUCTION: Laboratory-based surveillance is an important component in the control of vancomycin resistant enterococci (VRE). METHODS: The study aimed to evaluate real-time polymerase chain reaction (RT-PCR) (genes vanA-vanB) for VRE detection on 115 swabs from patients included in a surveillance program. RESULTS: Sensitivity of RT-PCR was similar to primary culture (75% and 79.5%, respectively) when compared to broth enriched culture, whereas specificity was 83.1%. CONCLUSIONS: RT-PCR provides same day results, however it showed low sensitivity for VRE detection.

Crashes, volatility, and the equity premium: Lessons from S&P 500 options

We use a novel pricing model to imply time series of diffusive volatility and jump intensity from S&P 500 index options. These two measures capture the ex ante risk assessed by investors. Using a simple general equilibrium model, we translate the implied measures of ex ante risk into an ex ante risk premium. The average premium that compensates the investor for the ex ante risks is 70% higher than the premium for realized volatility. The equity premium implied from option prices is shown to significantly predict subsequent stock market returns.

O contrato de Project Finance

Currently, Angola portrays a notorious economic growth and due to recent innovative legislations, it has become the major investment attracting pole, especially in Sub-Saharan Africa, having, thus, an extraordinary potentiality for a rapid and sustainable development, likely to place her in outstanding positions in the world economic ranking. Yet, such economic growth entails demanding levels of intensive investment in infrastructure, what has been reported of the Angolan Government to be unable to respond to, save if recurring to very high index of external debt, poisoning, in this way, the future budgeting of the country. Due to these infrastructure investment shortages, the cost of production remains highly onerous and the cost of life extremely unaffordable. On this account, the current study disserts about the contract of Project Finance; an alternative finance resource given as a viable solution for the private financing of infrastructure, aiming to demonstrate that such contractual figure, likewise the experience of several emerging economies and others, is a contract bid framework to take into account in today’s world. It refers to a financing technique – through which the Government may satisfy a common need (for example, the construction of a public domain or public servicing), without having to pay neither offer any collateral – based on a complex legal-financial engineering, arranged throughout a coalition of typical and atypical agreements, whereby it is mandatory to look back at the basic concepts of corporate law. More than just a simple financial study, the dissertation at stake analyses the nature and legal framework of Project Finance, which is a legally atypical and innominate contract, concluding that there is a relevant need for regulating and devoting a special legal regime in the Angolan jurisdiction for this promising legal form in the contemporary corporate finance world.

The accuracy of the escrowed dividend model on the value of European options on a stock paying discrete dividend

This project characterizes the accuracy of the escrowed dividend model on the value of European options on a stock paying discrete dividend. A description of the escrowed dividend model is provided, and a comparison between this model and the benchmark model is realized. It is concluded that options on stocks with either low volatility, low dividend yield, low ex-dividend to maturity ratio or that are deep in or out of the money are reasonably priced with the escrowed dividend model.

Managing marginal capital requirements in solvency II: Analysis of a real insurance portfolio

This thesis provides a complete analysis of the Standard Capital Requirements given by Solvency II for a real insurance portfolio. We analyze the investment portfolio of BPI Vida e Pensões, an insurance company affiliated with a Portuguese bank BPI, both at security, sub-portfolio and asset class levels. By using the Standard Formula from EIOPA, Total SCR amounts to 239M€. This value is mostly explained by Market and Default Risk whereas the former is driven by Spread and Concentration Risks. Following the methodology of Leblanc (2011), we examine the Marginal Contribution of an asset to the SCR which allows for the evaluation of the risks of each security given its characteristics and interactions in the portfolio. The top contributors to the SCR are Corporate Bonds and Term Deposits. By exploring further the composition of the portfolio, our results show that slight changes in allocation of Term and Cash Deposits have severe impacts on the total Concentration and Default Risks, respectively. Also, diversification effects are very relevant by representing savings of 122M€. Finally, Solvency II represents an opportunity for the portfolio optimization. By constructing efficient frontiers, we find that as the target expected return increases, a shift from Term Deposits/ Commercial Papers to Eurozone/Peripheral and finally Equities occurs.

How can packaging change children's eating habits from un-healthy food towards healthier options?

Field Lab: Children consumer behaviour

Value creation in the nursing home real estate investment market - A case study

The underlying thesis examines the value drivers of direct investments in nursing home real estate in Germany. A survey among investors and operators is conducted in order to identify significant value drivers. Moreover, based on survey results, a framework for assessing German nursing home real estate is developed. This is applied in a case-study about the set-up of a nursing home value-add fund which will demonstrate the value creation process of redeveloping an existing nursing home real estate portfolio. Through a concluding analysis the sources of value creation, sensitivities and future prospects of direct investing into German nursing home real estate are concluded.

Does ownership structure matter? Three essays in finance

Management

Financing exponential growth at H3

H3 is a fast-food chain that introduced the concept of gourmet hamburgers in the Portuguese market. This case-study illustrates its financing strategy that supported an exponential growth represented by opening 33 restaurants within approximately 3 years of its inception. H3 is now faced with the challenge of structuring its foreign ventures and change its financial approach. The main covered topics are the options an entrepreneur has for financing a new venture and how it evolves along the life cycle and different business approaches, namely franchising. It aims to be used as a learning tool in courses such as entrepreneurial finance.