The European Union has made a 180 degrees turn with respect to one of the most important regulations which will affect the banking sector in the coming months. The regulation affects how the lenders boost their anticrisis buffers.
Al Shoula, the consortium for the Mecca-Medina Ave, is working against the clock to ensure the start-up of the “demonstration service” due to take place on December 29. This means it will be paid the 150 million riyales (some 33 million euros) promised by the Saudi authorities
Since Portugal emerged from the crisis in 2014, its real estate sector has undergone a remarkable recovery. Caixabank Research points that the evolution of house prices, after a fall of 16.3% in nominal terms between 2007-13, have risen by an average of 5.3% per year and are now back at pre-crisis levels.
Analysts at Bankinter offer an investment strategy for the European banks ahead of the new year. Overall they reiterate their recommendation to maintain a structural position in banks due to the improvment in the quality of their balances and the recovery in business volumes.
With the definitive exit of the UK from the EU in 2020 and the rise in populism, Europe is on the way to losing its international relevance. So both Germany and France, the strongest economies in the area, are obliged to seek a balance of power to avoid this possibility.
The limits in payment systems are as huge as this industry’s rapidly changing profile. The sector’s technology and frontiers are collapsing, but France appears to have some degree of local experience, as shown by the recent confrontation between Atos/Gemelto/Thales.
The European company in the news today is the French defence and aerospace technology firm Thales. It has made a €4.760 billion bid for Gemalto, a Dutch company specialising in cybersecurity and digital payments.
Fitch has been the last agency to raise its rating on Portugal to investment grade last Friday. The previous increase from S&P in September already showed signs of the sick person being in very good health. Neighbouring Spain should also see an improvement in its credit quality and be included in the A tranche, at least by S&P and Fitch.
The ECB could first check how the market reacts to the actual halving of its purchases in January, and how the run-up to the Italian elections shape up, before changing its message.