According to the China Tourism Academy, more than 90% of hotels and tourist attractions in the country have reopened along with around 60% of travel agencies after containing the pandemic. Against this backdrop, Meliá Hotels has resumed work on an expansion plan which aims to double its presence in China within two years, from 5 to 10 hotels in operation. The reactivation of the domestic market have encouraged the company to open an ultra-luxury urban resort in Chengdu this week.
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After a EU telco “virtual” trip approaching key themes that includes pricing, COVID impact, infra monetization, BoA Global Research concludes that Spanish price pressure is the exception. “Price competition is intense with early back-to-school activity and the return of football”, the analysts explain. They met with Euskaltel, Masmovil, Vodafone and Telefonica.
The Mexican Institute of Social Security (IMSS) reported that 92.4 thousand formal jobs were created in August, equivalent to 8.3% of the 1.1 million jobs lost from March to July. The weak recovery in employment could not stop the deterioration of the labor market in a generalized way.
The Conversation | President Donald Trump and former Vice President Joe Biden took part in a presidential debate Sept. 29 that exemplified the lack of civility in American politics. The president frequently interrupted and spoke over his challenger, Biden told Trump to “shut up,” and few issues were discussed in enough depth to provide much information to undecided voters. We asked three scholars to discuss themes brought up by moderator Chris Wallace of Fox News, who struggled throughout the debate to keep control.
Shares in the new Siemens Energy started trading on Monday. The new company includes 100% of the former Gas & Power division plus 67% of Siemens Gamesa Renewable Energy. Siemens has handed over to shareholders 55% of Siemens Energy via a kind of share dividend, in the proportion of one Siemens Energy share for every two Siemens shares. While 9.9% goes to Siemens Pension-Trust, Siemens holds a direct 35.1% stake. That said, its aim is to continue to reduce its participation in the next 12-18 months.
On Tuesday, the Council of Ministers approved the extension of the temporary layoffs programs (ERTE) until January 31, 2021. This came in the wake of the pre-agreement reached with all social agents, unions and employers. Exemptions for resurgence ERTE will be up to 100% and for ERTE of certain sectors and companies will be between 75% and 85%.
World Bank data indicate that 47.7% of people aged 15 or over had a debit card in 2017, an increase from 2011, when it stood at 30.7%. In the Netherlands, Finland and Sweden, more than 98% of the population had a debit card; in contrast, in South Sudan and Sierra Leone, only 2% had a card of this type.
The first TV debate between Donald Trump and Joe Biden will be hold today.It will not be decisive, but it will have its importance. Joe Biden leads in the polls in most of the swing states and should benefit from a higher mail-in voting. “For historical or sociological reasons, many states always lean the same way. Thus the result hinges on the dozen swing states where the gap between the two sides is narrow and results in alternating victories between the Republicans and Democrats”, explain experts at ODDO BHF.
Last week the Central Bank of Turkey raised its interest rate to 10.25% (compared to 8.25% previously). The Turkish lira recovered by 1% briefly against the euro and the dollar, but soon retook its downward trend. However, the move did give an unexpected boost to BBVA. Through its subsidiary Garanti, Turkey has become the Spanish bank’s third largest market by volume. BBVA’s shares shot up 5.3% (2,284 euros). A few days earlier, BBVA shares had recorded their minimum annual level of 2.16 euros
In the coming months, the uneven evolution of the different markets as they exit the crisis will provide an opportunity for those companies capable of grabbing the opportunities of the recovery in the global market. However, 89% of Spanish companies only operate in the domestic market, with no prospects outside our borders. This data has emerged from nearly 250,000 interviews conducted by Iberinform with the management teams of Spanish firms.