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Meliá

Companies, Spanish economy 12th April 2023

Meliã expects to improve Easter Week figures by more than 20% compared to 2019

Alphavalue / Divacons | Last week the Spanish hotel chain was very optimistic about what will happen this Easter, in which after the recovery of tourism at international level, Meliã expects to improve the sales data recorded in 2019 by more than 20%. Particularly noteworthy are some national destinations such as the Canary Islands, where hotels have improved their occupancy and reached historic average figures. This was revealed by Meliã’s…

spain tax collection

Spanish economy, Spanish Politics 11th April 2023

Personal income tax return campaign starts today with undeflated rates that will knock another point off Spanish incomes

Taxpayers face the 2022 income tax return campaign that starts today with the decrease in real salary caused by the generalised rise in prices (8.5% in 2022) and the cold progressivity of the Personal Income Tax (IRPF), that is, what they are going to have to pay extra for the rise in salaries, despite having a lower real salary. Deflating the personal income tax brackets by 8.5% to adjust them…

LNG regasification ship

In Spain, Spanish economy 11th April 2023

Natural gas imports from Russia up 151.4% in February compared to February 2022

Imports of natural gas to Spain from Russia soared by 151.4% in February compared to the same month last year, reaching 5,465 gigawatt hours (GWh), according to data from the Corporation of Strategic Reserves of Petroleum Products (Cores). Russia is the third largest supplier of natural gas to Spain, with 17.2% of the total for the month. However, the volume of gas from Russia to the country was lower than…

Marijuana

Spanish economy 10th April 2023

Endesa detects 5 marijuana plantations illegally connected to grid every day

Last year, Endesa explained in a report that “cases of electricity fraud linked to marijuana plantations have doubled in the last four years”. Endesa closed 2021 with 1,636 cases of fraud linked to marijuana plantations, twice as many as in 2018. In 2022 it registered 1,800 cases. The damage is immense because the average consumption of a plantation is equivalent to that of 80 homes. The last plantation dismantled by…

companies general

Spanish economy 10th April 2023

Number of newly incorporated companies up 11% so far this year in Spain

A study prepared with data from the Mercantile Register by Axesor’s economic research bureau indicates that in March this year a total of 11,946 mercantile companies were set up in Spain, compared to the 11,224 created in March the previous year. This represents a growth of 6.4% compared to the same month last year. Axesor points out that “the Spanish economy is resisting both inflationary pressures and the uncertainty generated…

Cellnex

Spanish economy 5th April 2023

Bertrand Boudewijn and Leonard Peter Shore resign as independent directors of Cellnex citing “irreconcilable differences”

In a Significant Event communicated to the CNMV, the Board of Directors of Cellnex (CLNX) informed that it has received the resignations of Mr Bertrand Boudewijn Kan and Mr Leonard Peter Shore, in their capacity as independent directors, citing “irreconcilable differences with the Board in relation to the management, governance and succession process of the Company”. In their announcement, Mr Bertrand Boudewijn Kan and Mr Leonard Peter Shore stated that…

SAREB LEAFLET

Companies, In Spain, Spanish economy 5th April 2023

Spain’s “bad bank” celebrates its tenth anniversary with 40% of its total debt repaid to the state

Alphavalue / Divacons | Sareb has completed a decade since its creation. With the results known since 2022, the entity has already reduced the debt guaranteed by the State by €20,301 million, 40% of the total, so that at the end of 2022 the outstanding debt was €30,481 million. Since 2021, the State took control of the company through the FROB (Spanish Executive Resolution Authority), and its debt has had…

Iberdrola

Relevant News Item, Spanish economy 5th April 2023

Iberdrola sells Mexican government a large part of its business in the country for €5,478 million

Iberdrola announced on Tuesday a major sale of natural gas assets in Mexico, putting an end to several years of tensions with the country’s government. As the company, headed by Ignacio Sánchez Galán, informed the CNMV late in the afternoon, the subsidiary Iberdrola México and the state fund Mexico Infrastructure Partners (MIP) have signed an agreement of intent whereby a trust headed and managed by MIP will acquire 8,539 MW…

matriculaciones 1

Spanish economy 5th April 2023

Vehicle registrations in Spain improve by 66.1% in March with 99,524 sales

CdM | The passenger car and SUV market is now in its third positive month this year, closing the first quarter with an increase of 44.5%, with a total of 237,563 units. As for the March market, a total of 99,524 units were registered, 66.1% more than in the same month of the previous year. This increase is mainly due to the improvement in both the logistics chain and vehicle…

Spain industrial production

In Spain, Spanish economy 4th April 2023

Spain’s manufacturing PMI rises to 51.3 from 50.7 in February, fastest pace since June 2022

CdM | Growth in Spain’s manufacturing sector accelerated in March for the second month in a row and reached its fastest pace of expansion since June 2022, with a reading of 51.3 points versus 50.7 in February, according to S&P Global Market Intelligence. A key element was growth in the order backlog, following a nine-month sequence of declines, although the same trend was not seen with respect to external demand,…