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The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.
Acciona

Spanish economy 3rd August 2022

Acciona wins €258 M contract in Chile to design and build desalination plant

Link Securities | Acciona has won a 258 million euros contract to design and build a sea water desalination plant in Chile, according to Europa Press. The new plant will be located in Puerto Patache de Collahuasi, 70 kms south of the city of Iquique. The project forms part of the “Infrastructure Development and Productive Capacity Improvement” plan for the mining company Doña Inés de Collahuasi (CMDIC)’s operations. It also…

Spain tourism

Spanish economy 3rd August 2022

Spain Welcomes 7.5 Mn Tourists In June, More Than triple vs yr-earlier

Spain welcomed 7.5 million international tourists in June, more than tripling the figure recorded in 2021 of 2.2 million, according to the National Statistics Institute on Tuesday. Tourism spending in June totalled 8.933 million euros, up 271.3% year-on-year. The UK was the country of residence of the largest number of visitors to Spain, namely 1.8 million, representing 24.2% of the total and a 1.165,9% increase on June 2021. Germany and…

PatxiLopez

Relevant News Item 2nd August 2022

Patxi López’s Inaccuracies (*)

Warinca Arce | At the presentation of the new temporary and extraordinary taxes on large energy companies and the country’s big banks, Patxi López, spokesman for the socialist parliamentary group in Congress said: “Those who are protesting are the same people who, when they, the financial institutions, had problems, knocked on the door of ‘papa Estado’ to fix their problems. And ‘daddy state’ put in 60 billion euros…”…. “So far,…

car makers europe

Spanish economy 2nd August 2022

Spain: Car Sales Fall 11% In The First Half Of The Year

Last July 73,378 passenger cars and SUVs were registered in Spain, down 12.5% on the previous year and making it the worst July since 2012. Year-to-date sales are down 11% with a total of 481,135 units registered in 2022. Toyota, with 43,684 deliveries, leads the market. The new car registrations market in Spain is still in free fall and shows no signs of improving. In July, 73,378 passenger cars and…

eurozone quarantine

Relevant News Item 1st August 2022

Eurozone Economy Is Slowing Down

Crédito y Caución (Atradius) | The eurozone is struggling with a strong divergence between a weak industrial sector plagued by supply bottlenecks, higher input costs and weakening sentiment on the one hand, and a solid services sector, which is experiencing a post-Covid rebound. We expect 2.9% GDP growth in 2022 and 2.5% in 2023. Among major economies, 2022 GDP growth since our previous Economic Outlook in April has been downwardly…

SpanishGDP

Spanish economy 1st August 2022

Spain’s GDP Year-On-Year Change Stands At 6.3%

Preliminary GDP for 2Q2022 shows +6.3% YoY growth vs +5.5% YoY estimated by market consensus. In quarter-on-quarter terms it shows +1.1% q/q vs +0.4% q/q estimated by consensus. Bankinter’s analysis team’s opinion:Preliminary data better than expected. After the slowdown in 1Q2022, the second quarter has been favoured by the recovery of Services activity and international Tourism. In our Q3 2022 Strategy we revise the projections for the year to +4.0%…

OFICINA Empleo Spain

Spanish economy 29th July 2022

Unemployment Falls By 255,300 In The Year To June To 12.48%

Unemployment fell by 255,300 people between April and June this year, the largest decline for a second quarter since 2018, and the number of unemployed fell below three million for the first time since 2008.Meanwhile, employment rose by 383,300 jobs between April and June, up 1.91% on the previous quarter, although this is lower than the 464,900 increase in workers recorded a year ago. At the end of June, the…

Banco Santander office

Spanish economy 28th July 2022

Santander Reports Underlying Attributable Profit Of €4,894 Million, Up 16% For The First Half Of 2022

Banco Santander achieved an underlying profit of €4,894 million in the first half of 2022, up 16% in current euros versus the first half of 2021. Attributable profit, which was impacted by restructuring charges of €530 million in the same period of 2021, was up 33% in current euros. In the second quarter alone, attributable profit was €2,351 million, up 14% in current euros and 2% in constant euros. Underlying…

sanchez

Spanish Politics 28th July 2022

Sánchez Defends Chaves And Griñán After The ERE Conviction: “They Are Paying For The Sins Of Others”

The President of the Government, Pedro Sánchez, defended, on Wednesday, the former presidents of Andalusia Manuel Chaves and José Antonio Griñán after their conviction in the ERE case. Pedro Sánchez believes that “they are paying for the sins of others” , and avoided saying anything on “hypothetical future actions” such as the granting of a pardon. In a press conference with the Prime Minister of Poland, Mateusz Morawiecki, Sánchez stressed…

spain foreign policy

Relevant News Item 27th July 2022

The IMF Cuts Spain’s GDP Growth In 2022 By Eight Tenths Of A Percentage Point To 4%

The International Monetary Fund (IMF) has lowered its GDP growth forecast for the whole world, including Spain. Spain will grow by 4% in 2022, which is eight tenths of a percentage point lower than the forecast published in April. The fall in GDP will be more pronounced next year if Russia’s war against Ukraine continues. According to the report ‘World Economic Outlook’, published on Tuesday, the IMF considers that in…