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Companies, Spanish economy 16th February 2023

CAF emerges as main candidate to win €330M contract to renew ATM Milano’s bus fleet

Link Securities| The railway manufacturer Construcciones y Auxiliares de Ferrocarriles (CAF), through its bus division Solaris, has applied as the main candidate to renew ATM Milano’s bus fleet, in a tender valued at €330 million and for which it will face competition from up to three different rivals, according to the newspaper elEconomista.es. The tender, which will be resolved in the coming weeks, according to sources involved in the process,…

In Spain, Spanish economy 15th February 2023

Spain: Inflation up to 5.9% in January, core inflation soars to 7.5%

2023 has started with a new jump in the CPI, to 5.9%, after the decline that started in July last year from a record high of 10.8%. Clothing and transport lead the rise this month. And, although food is down slightly, some groups, such as fish, are starting to pick up again in the monthly statistics. Core inflation continues to soar, rising above the headline CPI for the first time…

Spanish economy 15th February 2023

215 shops close every day in Spain

Covid, inflation, stagnation of consumption… These are just additional problems for a sector that is currently facing the rise in the minimum wage, the rise in Social Security contributions, the fall in consumption… “And a suffocating regulatory framework: A business opening its doors in 2021 would be affected by more than 3,000 regulations of all kinds, from European to municipal,” explains Francisco Vidal, director of economics at Cepyme, the employers’…

Companies, Ibex, In Spain, Spanish economy 15th February 2023

Aena passenger numbers exceed pre-virus levels in January for first time (+2% vs 2019)

Bankinter | Aena (AENA) airports recorded 16.9 million passengers in January, which is +2% compared to January 2019 (pre-virus) and compares with -2% in December. Compared to last year, it is up +63%, although it should be borne in mind that, at the beginning of last year, traffic was still affected by the Omicron variant. Analysis: Good news. Passenger traffic continues to improve in January, surpassing pre-virus levels for the…

Companies, Spanish economy 14th February 2023

Grenergy acquires 60% stake it did not already hold in Sofos Harbert Renewable Energy.

Norbolsa | The renewable energy company announces the purchase of the remaining 60% it did not already own of the photovoltaic and battery project developer Sofos Harbert Renewable Energy, consolidating its commitment to the US renewable energy market. This acquisition comes ahead of the three-year term of the initial contract and will become Grenergy’s subsidiary in the country. It is currently developing a portfolio of 1.9 GW of solar power…

Spanish economy 14th February 2023

Seven European countries oppose Spanish electricity reform

The governments of Germany, Denmark, Estonia, Finland, Luxembourg, Latvia and the Netherlands have sent a joint letter to the European Commission in which they ask that the reform of the electricity sector in the EU be carried out under free market parameters and without price interventionism. The letter, to which the newspaper Expansión has had access, is a harsh blow to the proposal put forward by the Spanish government to…

Spanish economy 13th February 2023

40,000 electric recharging stations blocked

The situation is so absurd that there are situations where, although there are charging points already installed – at petrol stations, in public car parks or other types of premises – they do not actually have any electricity. They are not operational because some grid connection permit or other final document is missing. This collapse not only puts Spain at the bottom of the European league table in the deployment…

In Spain, Spanish Politics 13th February 2023

Spain loses its bearings: up to 18 months in jail for killing a rat

The Animal Welfare Law promoted by Minister Ione Belarra and approved in Congress with the votes of PSOE, Podemos, ERC and Bildu has introduced an important change in the Spanish Penal Code by changing the term ‘domestic animal’ to ‘vertebrate animal’. A vertebrate animal is any animal that has bones and an articulated skeleton or backbone. Now, under the new law, striking, injuring or killing a vertebrate animal will be…

Spanish economy 10th February 2023

Seventy Spanish companies assess earthquake damage in Turkey

BBVA, Inditex, Mapfre, Ferrovial, Gestamp and Antolin are the largest Spanish companies with a presence in the country, to which Spain exported almost 6.1 billion euros up to November 2022, an increase of 22.4% (according to the latest available data published today in the newspaper Expansión). The nearly 70 Spanish companies with a presence in Turkey are assessing the impact of the earthquake that struck the country on Monday and…

Relevant News Item, Spanish economy 10th February 2023

Inditex sets minimum wage of €18,000 for its 6,477 shop staff in Spain

Inditex has reached an agreement with the trade unions setting a fixed minimum wage from €18,000 for all employees in the shops of the group’s different brands throughout Spain, an amount to which will be added other variable payments such as those linked to seniority, commissions or night work, among others. It also approves aid for children and adoption, salary increases on Sundays and public holidays, higher commissions and bonuses….

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