The aim of the move would be to obtain government approval for the operation, a necessary condition for it to be successful. SIX’s purchase proposal includes the commitment to maintaining BME’s current brands, headquarters, business lines and offices. It also upholds the company’s strategy in Spain for four years, which could now be extended.
The new European Banking Authority (EBA) proposal will be analysed and discussed by the parties involved up until April 30, with a public discussion session on February 21. It will give banks more room for manoeuvre in the calculation of their projections. That said, the agency has insisted standards will have to remain high. The banks will have to continue detailing capital requirements, major risk factors or exposure data.
The Hong Kong Water Supplies Department has selected a consortium including Acciona to design, build, operate and maintain the first phase of the Tseung Kwan O desalination plant. The project, worth HKD9.018 billion (€1.042 billion), includes the construction and operation of the plant for a duration of ten years. The facility will equip the city to face the challenges of climate change and the low level of rainfall in the area.
CaixaBank Research | The weakness of the industrial sector, which we have recently analysed, is one of the major factors behind the slowdown in the global economy and, in particular, that of the euro area. However, the resilience exhibited by the services sector, which accounts for the bulk of economic activity,continues to drive growth and gives continuity to the expansion. But just how resilient has the services sector really proven to be? Is there a risk of contagion from industrial weakness?
via The Conversation | After a pause of a few months, the world’s leading central banks are “printing” money again to try to bolster their economies. Commonly known as quantitative easing or QE, the European Central Bank (ECB) resumed its programme just before the turn of the year. The backdrop is lukewarm growth, a looming recession in Germany, and persistent fears of Japanese-style deflation.
These growth forecasts are dependent upon keeping geopolitical tensions in check, in addition to other risks threatening the world economy. Specifically, our scenario assumes that recent tensions between the US, Iran, and Iraq will have no permanent negative impact on the global environment. In particular, oil prices are expected to stabilize at about $61 per barrel over the next two years, below the average value recorded in 2019 ($ 64) or the current price ($ 68).
Christian Gattiker (Julius Baer) | Investors seeking protections may consider stocks in the healthcare and internet space, which are less exposed. However, more importantly, the recent outbreak does not change our medium- and long-term constructive view on Chinese equities. We are inclined to buy on weakness in the equity market at this stage.
ACS delivered mixed news on Thursday. On the one hand, it announced the agreement it reached with Galp to sell it solar photovoltaic projects in Spain totalling 2.9 GW. On the other hand, CIMIC, owned by ACS and Australia’s biggest construction company, reported a $1.8 billion write-down after leaving MiddleEast.
Euro area governments could increase tax revenue by 3% of GDP on average by improving their value-added-tax systems, creating fiscal space for heavily indebted countries such as Greece, Italy and Spain, and boosting growth by reducing tax distortions.
This long term and strategic partnership includes the acquisition by Amundi of 100% of Sabadell Asset Management, which has €21.8bn of assets under management, of which €16.1bn is in Spanish-domiciled funds. The transaction value, financed via Amundi’s existing cash resources, is €430m.