The Federal Reserve raised its benchmark interest rate by 25 basis points. The effective rate will evolve in a corridor between 2% and 2.25%. The dots graph reflecting monetary policy committee members’ expectations suggests 3 rate increases in 2019, 1 in 2020 and none in 2021. As pointed by Philippe Waechter from Natixis IM, this profile, for 2019 and 2020, is unchanged from last June forecasts.
The King of Saudi Arabia, Salman Bin Abdulaziz Al Saud, has officially inaugurated this Tuesday the high speed railway (AVE) from Mecca to Medina. This is considered the major infrastructure Project by Spanish companies abroad. According to the consortium of companies building the railway, the price of the project has already risen to 7.1 billion euros.
Spanish companies pay more taxes than the EU28 average despite the reduction in their number during the crisis and that only 45.3% of the total registered profits in 2015.
Santander | To adopt a more optimistic view of the price, we would like to see Meliá increasing its debt exposure to the dollar and solves its profitability problems in leased assets.
Prime Minister Pedro Sanchez this Wednesday will attend a meeting organised by the American Chamber of Commerce in Spain (AmChamSpain) during the General Assembly of the UN, together with over 20 leaders of major multinationals, US banks and major investment funds. At the moment, Sánchez has already had the opportunity to greet US President Trump.
Mr. Orcel is currently member of UBS Group’s executive committee and “brings a wealth of experience and expertise, having worked closely with Santander for almost two decades”, according to the financial entity.
The electricity distribution network in Portugal is going to be re-auctioned within an ambitous programme of liberalisation launched by the Government. The Portuguese electricity market, with more than 6 million connections, is a quarter that of Spain. Endesa looks to take advantage as it has 18% of the energy supply market in the country.
Ioannis Glinavos via Macropolis | Those at the receiving end of austerity policies and fiscal consolidation measures aimed at stabilizing the eurozone during and after the debt crisis of 2010 have sought redress in the courts, hoping to find an argument that can convince the law to come to their assistance.
Mari Pinardo | Neinor Homes is the first housing promotor to return to the stock market 10 years after the crisis. Its CEO, Juan Velayos, recognises that many things have improved since then: Four years ago no housing was being built, and now 90,000 units are being built”. But he admits there are deep rooted problems in the sector: “Spain is seriously bad at generating supply, we are paying far more for apartments than we could do if there were transparent criteria.”