On 5 and 6 October, Granada, armoured with more than 5,000 police officers, brought together almost fifty European leaders – the 27 EU member states and 17 others – for the third summit of the European Political Community, hosted by the acting prime minister, Pedro Sánchez, at which he is acting as host in the midst of negotiations for his investiture. The aim of the meeting is to address the…
Santander : Yesterday, the EU officially launched an anti-subsidy procedure against Chinese imports of battery electric vehicles (BEVs). The launch of the investigation comes after Commission President Ursula von der Leyen announced the initiative during her State of the Union address in mid-September. According to the statement published in the EU’s official journal, the EC “has gathered sufficient evidence” that BEV producers in China “have benefited from a number of…
Banca March : The European Commission (EC) has identified four technology sectors to limit exports to. The European Union considers the overdependence of semiconductors, artificial intelligence (AI), quantum computing and biotechnology on exports to be a potential risk to the European economy. It therefore calls for unity among the 27 member states before taking action. Manoeuvres could include encouraging investment in these areas, collaboration between countries and export restrictions. Currently,…
Link Securities | Cinco Días reports on Thursday that the OPEC+ CMCM (before JMMC) monitoring committee confirmed in a telematic meeting chaired by Saudi Energy Minister Abdelaziz bin Salman and Russian Deputy Prime Minister Alexander Novak that the steep oil supply cuts being implemented by both Saudi Arabia and Russia together with OPEC+ will be maintained until at least 31 December this year. “The committee will continue to closely assess…
ASE Group : In September, the daily price of electricity on the Spanish wholesale market (POOL) closed at 103.34 €/MWh. This is 7.6% more expensive than in August, but 57.6% below its level a year ago. The reduction of wind and photovoltaic has meant a greater presence of combined cycle gas (CCG) in the generation mix, causing the price to rise. ASE Group analysts point out that this rise has…
Link Securities | The factory activity index, PMI manufacturing, for Spain, compiled by Markit, came in at 47.7 points in September, up from 46.5 points in August, which was also the reading expected by the analysts’ consensus. It should be recalled that a reading above 50 points indicates an expansion in activity compared with the previous month, while a reading below this level indicates a contraction in activity. Thus, the…
Banca March: The International Monetary Fund (IMF) is considering increasing China’s voting rights to bring its share in the fund in line with its position in the global economy. Each country contributes a quota based on various factors reflecting economic positioning relative to the world economy. This quota designates the amount each country has to pay into the fund, as well as its voting rights. Currently, the Asian giant has…
The average expenditure per tourist has consolidated this summer at over 1,300 euros, the highest figure since the National Statistics Institute (INE) has been recording data. Foreign tourism this summer (July and August) has left €27,381 million in cash, according to the information provided by the INE in the Tourism Expenditure Survey (Egatur), which released the data for the month of August this Tuesday, when a total of 10.1 million…
THE EUROPEAN ECONOMY HAS COME TO A HALT BUT INFLATION IS STILL ABOVE 5%, AND WITH GROWTH STIFLED ALL THE LIQUIDITY INJECTED IN RECENT YEARS WILL TURN… INTO INFLATION
Banc Sabadell| Iberdrola (IBE) and GIC, Singapore’s sovereign wealth fund, have closed the €465 million (BRL 2.4 billion ) deal to develop new electricity transmission networks that they had announced in April and which has already been approved by the National Electricity Agency (ANEEL) and the Administrative Council for Economic Defence (CADE). Both companies will invest in operational transmission assets in Jalapao, Santa Luzia, Dourados, Atibaia, Biguacu, Sobral, Narandiba and…