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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.
Employment November

Spanish economy 2nd December 2020

Rise In Spain’s Furloughed Workers Overshadows Surge In Social Security Affiliation In November

Randstand Research | The labor market records in November reflect a relatively negative performance against the path of recovery that was observed during the previous four months. Social Security affiliation in November increased by 31,638 people, a 0.17% increase, the best figures in that month since 2006, but it masks a rising in those affected by temporary layoffs of 147.000 during that month. The total number of contributors exceeds the threshold of 19 million (namely 19.02 million people). 

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.