Boosting domestic demand is key to the euro zone recovery
BARCELONA | Europe’s political agenda intensifies, analysts at CaixaBank. But the dynamism of the foreign sector is not enough to offset the fragility in domestic demand.
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Almirall-AB Biotics deal promises use of pharmacogenetics can reduce public healthcare system costs
Almirall said pharmacogenetics testing helps doctors to improve treatment efficacy, reduce side effects, and could lead to a cut down in healthcare system costs. Patient response to medicines is conditioned by genetics.
The euro zone tames government deficit but debt rises
Euro area and European Union government deficit has reached 4.1% and 4.4% of GDP, respectively. Government debt is at 87.3% and 82.5%, according to Eurostat.
A Spanish-Japanese venture starts FCC’s first solar power plant in southern Spain
The plant, built through a joint venture between FCC and Mitsui, will produce 100,000 MWh of electricity per year, meeting the needs of 26,000 people.
Bankia sets first partnership with developers to auction 440 properties
MADRID | Troubled entity Bankia became Friday the first Spanish bank to auction properties from development companies, besides real estate assets from its own portfolio. Discounts were up to 60%.
Virginia selects Ferrovial-led consortium for €1-billion route 460 highway contract
The consortium headed by Ferrovial through subsidiary Ferrovial Agroman, in conjunction with American Infrastructure, has been chosen to design, build and finance the new US Route 460 highway in the state of Virginia. Construction is expected to start in 2014 and the new infrastructure will open to traffic in 2018.
One in four Spanish listed companies generate 75% of sales abroad
There has been a change in the pattern of growth generated abroad, now supported by operations in non-EU countries. This is a direct consequence of the weakness of most European economies.
The Spanish banking system holds some €108bn liquidity surplus
The first 3-year injection auction in November 2011 allowed the Spanish banking to get cheap and long-term funds, which substantially varied its liquidity position. According to AFI analysts, it also limited risks associated with restrictions to renew and issue bank debt and to attract sufficient retail funds to offset the fall in wholesale funding.
Inditex deploys Massimo Dutti in the US
Spain’s Inditex has opened the first Massimo Dutti store in the US, which also is the largest of that brand–it has 600 worldwide. It was launched online, too.
Spanish CAF metro trains for Helsinki
Helsinki City Transport announced Wednesday it is acquiring new trains for its West Metro under a €140.4 million contract with CAF. The accord includes an option to extend the deal to the East Metro, too.