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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.
renewables toreras

Spanish economy 1st December 2020

Spain’s Renewables Sector: “Auctions ‘Democratise’ Energy, But They Must Be ‘Well Conceived’

In his participation in today’s 4th Renewable Energy Congress organized by APPA, Chairman and CEO of Ence, Ignacio Colmenares, said the auctions of renewables will lead to “competition and the price of energy remaining increasingly competitive. Meanwhile, the non-executive president of Capital Energy, Juan Lasala, said the auctions “are a way to give visibility to the market.” But he stressed they must be “well conceived and designed.” The government plans to launch the auctions beore the end of this year.

Eroski City

Spanish economy 1st December 2020

Spain’s Socimis Are Buying Up Supermarkets

Due to the resilience shown by the real estate sector during the pandemic, as well as tenant stability, Socimis have purchased supermarkets in Spain for an amount of 600 million euros so far this year. Mercadona and GM have sold portfolios of supermarkets for 180 and 152 million euros respectively. And there are operations pending for 200 million euros in the short term, according to real estate consulting firm CBRE.

Asi 21st century

In the World, World economy 1st December 2020

The Four “M”s: Why The 21st Century Belongs To Asia

Viswanathan Parameswar (Schroders) | For a look into the future of the global economy, and where the power is shifting, consider technology developments in both China and India. In a mere decade, China’s e-commerce market has grown from less than 1% of global sales, into the world’s largest market in 2016, representing more than 40% of transactions by value. Meanwhile, India’s adoption of mobile technologies is surging at an astonishing rate as Reliance Jio – which became India’s dominant tech firm virtually overnight – brings fast connections to India’s 1.3 billion people.

optic fibre

Spanish economy 30th November 2020

The Spanish Telecoms Sector Aims To Liberalize The Fiber Market For Up to 67% Of The Population

The regulator for Spain’s telecommunications sector, the CNMC, has consulted the operators on the new regulation for the broadband market, ahead of further consultation with the European Commission. The new regulation is expected to be approved next summer at the earliest. The CNMC is proposing greater liberalization in the fiber market, which involves increasing the number of cities where it considers there is sufficient competition and, thus, where there is no need to share the network at regulated prices.

Repsol Strategic Plan

Ibex, Spanish economy 30th November 2020

Repsol’s Will Invest €18.3 Bn Between 2021-25, Of Which 30% Will Go To Decarbonisation

Last week Repsol unveiled its strategic plan for the period 2021-25. The company will decarbonize its asset base and implement a new operating model with new pillars such as the Customer and Low-Carbon Generation Businesses. Furthermore, Repsol aims to substantially increase EBITDA, to more than €8.2 Bn in 2025. The strategic plan will have two differentiated periods. In the first two years, it will focus on ensuring financial strength. From 2022, the point will shift to the acceleration of growth.

Does the 2019 Budget benefit the Spanish economy?

Spanish economy 30th November 2020

The Spanish Economy Was Already Showing Signs Of Structural Exhaustion Before Covid-19

The Spanish economy has been showing clear signs of structural exhaustion prior to Covid-19. The indicator that summarises this weakness is the stagnation of GDP per capita in relation to the EU average, which has stood at 90% since 2016. This is significantly lower than the 98% reached in 2003, according to a report published by Funcas. The crisis generated by the pandemic hits an economy that was no longer converging with the EU27.

VictorOrbanok

European politics 30th November 2020

EU Must Hold Firm in Rule-of-Law Dispute with Hungary, Poland

EU leaders — including Orbán and his Polish counterpart, Mateusz Morawiecki — agreed in September to tie the disbursement of EU funds to compliance with the rule of law. The conditionality is not automatic. To withhold funds, a qualified majority of fifteen out of 27 member states, representing 65 percent of the EU’s population, would need to agree (…) But if the proposal were meaningless, Orbán and Morawiecki wouldn’t be fighting it. They understand it could be used to rein them in — which is exactly why the rest of the EU must hold firm.

HumanWork

In the World, World economy 29th November 2020

“Human Work” Is The Key To Ending Income Inequality

Jamie Merisotis | Changing the trajectory of inequality to build a more just and open society isn’t an insurmountable challenge. Indeed, if 2020 has taught us anything, it’s that massive change can come very quickly. Now is the time to work toward such change. We can do that by applying the three interrelated aspects of human work — learning, earning and service to others — toward reducing economic and social inequality. Indeed, our only way to eliminate these inequities is to ensure that everyone has the capacity and opportunity to do human work.

Black Friday2020

In the World, World economy 28th November 2020

Five Ways Black Friday Shopping Will Be Different In 2020

In 2020, people in the UK will spend an estimated £6 Bn on Black Friday and Cyber Monday sales, compared to around £5.6 Bn in 2019. However, with restrictions in place due to the COVID-19 pandemic there are many ways that 2020 will look very different to both retailers and consumers. Retailers are trying to manage the shift from shopping in-store to online that has increased during the pandemic. By flattening the curve of the peak of online orders on Black Friday and at the beginning of December for Christmas, retailers are trying to encourage consumers start buying earlier and throughout this period.

hotel TC

Markets, Spanish economy 27th November 2020

Leisure, Tourism And Hotels: What Will Be, Will Be In A Sector Battered By Covid19

Banco Sabadell | The hotel sector is one of the worst off after the irruption of Covid-19. Travel, both leisure and especially business, has almost completely disappeared. This has led to hotel closures and occupancy levels below 20% in some months. The airlines’ perspectives could be a good proxy in order to try to find out what could happen with hotel demand. IATA forecasts that the number of global passengers will be 61% lower in 2020 compared to 2019. Our forecast of a drop in occupancy is -66% in NH Hotels and -67% in Meliá Hotels.