Until now, Spain has been in second place, after Venezuela and ahead of Russia. However, the accumulation of arbitration awards lost and unpaid by the Spanish state means that, at the moment, Spain has 55 awards against it with total compensation of €1.2 billion. Russia continues to occupy third place. To this figure must be added another €119 million in interest on the principal and €129 million for the legal…
Link Securities| The German Federal Statistical Office yesterday published that Germany’s producer price index (PPI) fell 1.4% in May compared to April, significantly more than the 0.7% decline expected by FactSet’s consensus of analysts. On a year-on-year-year basis, Germany’s PPI rebounded by 1.0% in the month of May (4.1% in April), a reading that was also well below the 1.7% increase expected by analysts. May’s year-on-year PPI growth rate was…
The debt of all public administrations increased by 5.6% year-on-year in April, but recorded a decrease of 0.57% compared to March, reaching €1.526 trillion, according to data released yesterday by the Bank of Spain (BdE). In the last 12 months, public debt has risen by 5.6% (€81,035 million) due to higher expenditure resulting first from the pandemic crisis and, subsequently, from the economic consequences of the war in Ukraine and…
Emisores| Article 63 of Law 6/2023 of 17 March on Securities Markets and Investment Services (LMVSI) comes into force on September 18th. With its entry into force, the powers currently exercised by the CNMV (National Securities Market Commission) to verify compliance with the requirements for admission to trading will be transferred to the governing bodies of the markets where admission to trading of non-equity securities (understood as fixed income securities,…
Intermoney| ACS, through Dragados, in alliance with the Ledcor group, has won the initial works to extend services on the Ontario commuter line (Go Line). The contractors will work on the nearly 20-kilometre Lakeshore East line in the town of Bowmanville. The work includes seven new bridges and grade crossing improvements. Ontario has committed C$730 (about €500 million) to this rail extension. The investment in the Go Line amounts to…
Banca March: The European Union is about to confirm that it is raising its renewable energy consumption target from 22% to 42.5% by 2030, a commitment that is expected to boost investment in clean generation sources. The agreement, which updates the current legal target of 32%, is based on a political negotiation concluded in the spring and although it is not yet final, as it will also have to be…
The president of Renfe, Raúl Blanco, has announced that the high-speed AVE routes in France will start on July 13 with the Barcelona-Lyon connection, to be followed on July 28 by the Madrid-Marseille connection. Tickets for these routes will go on sale tomorrow, Wednesday. June21st. The Barcelona-Lyon connection will stop in Girona, Figueres, Perpignan, Narbonne, Béziers, Montpellier, Nimes and Valence. The Madrid-Marseille connection will stop in Zaragoza, Tarragona, Barcelona, Girona,…
The Spanish government leads in receiving the grant part of European funds, having already completed three payments from Brussels worth €37 billion, but it is the twelfth in terms of execution capacity. Over the two-year period 2021 and 2022, Spain has barely executed 10.4 % of the €70 billion it has pre-allocated, which places it in twelfth place in the European Union. The European Commission has published the Staff Working…
Alphavalue/DIVACONS| Spanish telecom company Telefónica and Microsoft will jointly offer companies of all sizes and linked to any type of activity solutions to “evolve” voice technologies by integrating them into a cloud environment in which communications and collaborative applications are solved, the two companies said in a statement yesterday. The services have been deployed around the Microsoft Teams Phone voice platform and allow employees to connect and work collaboratively from…
REPSOL (REP) has signed with Algeria’s state-owned Sonatrach and Indonesia’s Pertamina an alliance for the exploitation of hydrocarbons in the Menzel Lejmat area in Algeria, in which they will invest a total of $800 million (about €731 million). This production-sharing contract is part of the memorandum of understanding signed between the three companies on 28 September last year and the project is estimated to recover around $150 million (about €731…