Miguel Navascués| Although domestic demand has been in decline for two quarters, the recovery in tourism (whose revenues grew 38% year-on-year in 1Q23) and exports (+14%) have finally allowed Spain to recover its pre-Covid GDP in 2Q23. It is the last eurozone country to achieve this (while neither the Czech Republic nor Japan have yet done so) two years later than the average of the 19 most significant euro countries….
Link Securities | As reported by the digital newspaper CapitalBolsa.com, Naturgy (NTGY), together with three other companies, Compost Segrià, Sitra, and Servei de Gestió Ramadera, has initiated the processing of a new renewable gas plant in Torrefarrera (Lleida), in an area of Spain that generates large quantities of agricultural and livestock waste. The plant will represent an investment of €18 million. The facility, which is expected to be commissioned in…
BancaMarch: The Bank of Spain raises its GDP growth forecast to 2.3%. This was stated by the agency in its recent publication of macro projections, in which its GDP forecast for Spain for the current year rises from 1.6% to 2.3%. It also expects inflation to fall faster than expected this year, to close at 3.2% on average, as well as forecasting growth above 2% every year until 2025. On…
Until now, Spain has been in second place, after Venezuela and ahead of Russia. However, the accumulation of arbitration awards lost and unpaid by the Spanish state means that, at the moment, Spain has 55 awards against it with total compensation of €1.2 billion. Russia continues to occupy third place. To this figure must be added another €119 million in interest on the principal and €129 million for the legal…
The debt of all public administrations increased by 5.6% year-on-year in April, but recorded a decrease of 0.57% compared to March, reaching €1.526 trillion, according to data released yesterday by the Bank of Spain (BdE). In the last 12 months, public debt has risen by 5.6% (€81,035 million) due to higher expenditure resulting first from the pandemic crisis and, subsequently, from the economic consequences of the war in Ukraine and…
Emisores| Article 63 of Law 6/2023 of 17 March on Securities Markets and Investment Services (LMVSI) comes into force on September 18th. With its entry into force, the powers currently exercised by the CNMV (National Securities Market Commission) to verify compliance with the requirements for admission to trading will be transferred to the governing bodies of the markets where admission to trading of non-equity securities (understood as fixed income securities,…
The Spanish government leads in receiving the grant part of European funds, having already completed three payments from Brussels worth €37 billion, but it is the twelfth in terms of execution capacity. Over the two-year period 2021 and 2022, Spain has barely executed 10.4 % of the €70 billion it has pre-allocated, which places it in twelfth place in the European Union. The European Commission has published the Staff Working…
Alphavalue/DIVACONS| Spanish telecom company Telefónica and Microsoft will jointly offer companies of all sizes and linked to any type of activity solutions to “evolve” voice technologies by integrating them into a cloud environment in which communications and collaborative applications are solved, the two companies said in a statement yesterday. The services have been deployed around the Microsoft Teams Phone voice platform and allow employees to connect and work collaboratively from…
REPSOL (REP) has signed with Algeria’s state-owned Sonatrach and Indonesia’s Pertamina an alliance for the exploitation of hydrocarbons in the Menzel Lejmat area in Algeria, in which they will invest a total of $800 million (about €731 million). This production-sharing contract is part of the memorandum of understanding signed between the three companies on 28 September last year and the project is estimated to recover around $150 million (about €731…
Alberto Núñez Feijóo displayed his territorial power yesterday, Sunday, in the Retiro Park in Madrid, when he was accompanied by all the barons of his party, those who govern and those who will do so in a few days, as an example of what can happen on 23 July, in a general election. And Núñez Feijóo dedicated the event to defending the agreements reached by the PP to govern in…