Abengoa has presented its 10 year viability plan. The company anticipates to reach a turnover of 2.86 billion euros in 2023 and 4.202 billion euros in 2028. Moreover, its portfolio of will increase from 1.75 billion euros in 2019 to 4.01 billion euros in 2028, thanks to identified projects, whose value rises to almost 30 billion euros.
Juan Carlos Martínez Lázaro in The Conversation | The 2019 budget is very well designed from a political point of view, as it is a tool for prolonging the legislature. More questionable is that this budget will be a tool for “driving productivity and strengthening solid growth”. Many more things would be needed to transform the Spanish productive model which, although it hurts us, remains the same as what we had before the crisis.
Last Tuesday in the city of Aachen, Emmanuel Macron and Angela Merkel signed a treat to give a new impulse to the EU. This is heir to the Elysee Treaty that was signed by Charles de Gaulle and Konrad Adenauer in 1963. The German-French alliance may not be important in terms of political convergence, but the economic reality of globalisation has already achieved it with listed shares.
Athanasius Dimadis and María Fernanda Espinosa Garcés | The United Nations is often criticized for bureaucratic inefficiency. Despite this, it still wields influence in its mission to promote international cooperation and to create and maintain international order. María Fernanda Espinosa Garcés, the president of the 73rd General Assembly of the UN, has pledged to maintain the institution’s commitment to multilateral relations while proposing crucial reforms more in tune with the “needs and quests” of an ever more connected world.
New York state (US) has awarded two contracts for the construction of a wind farm and a solar power plants to Avangrid Renewables, the US subsidiary of Iberdrola.
The National Commission for Markets and Competition (CNMC) and its French counterpart, the Energy Regulation Commission (CRE), have rejected the Step project, one of the key phases of MidCat, the main gas interconnection project between France and Spain. Valued at some €3 Bn, it was called on to play a key role in the reconfiguration of the energy geopolitics of the EU.
José Ramón Díez Guijarro (Bankia Estudios) | Economic cycles are inexorable, reflecting the dynamics of economic markets, summed up by Schumpeter as the process of “creative destruction”. After the initial recovery of the expansionary phase comes the tipping point, with growth superior to potential, to later enter in the slowdown phase, in which there is a gradual convergence with trend rhythms of growth and the negative output gap closes.
The operator may have opted for dividing its assets in the region to facilitate their sale. Specifically, America Movil would be interested in the subsidiaries in El Salvador and Guatemala, and both Millicom and AT&T in the rest (Costa Rica, Nicaragua and Panama).
via The Conversation | New Year’s Day 1999 saw the largest monetary changeover in history. On that date, just 20 years ago, 12 members of the European Union formally adopted a brand-spanking-new currency, the euro. Today seven additional EU member states use it, along with Montenegro, Kosovo, Andorra, Monaco, San Marino and Vatican City. If survival is the ultimate gauge of success, then this grand monetary experiment can be said to have succeeded.
Caixabank, Telefónica, El Corte Inglés or Iberdrola are some of the companies which are best prepared to confront a year which will serve as a point of inflection for the economy facing the uncertainties, both national and international, which will end up damaging economic growth, according to the latest report of the consultancy Advice Strategic Consultants.