Banca March : This morning, the preliminary inflation figure for Spain was published, which came as a surprise in January, rising by one tenth of a point compared with the previous figure to +5.8% year-on-year, well above the +5% forecast. According to the INE, this evolution is mainly due to the fact that fuel prices rose more than in January 2022, and that the fall in clothing and footwear prices…
Victor Relaño (Capital Madrid) | Strategic Minerals is a company with US and Spanish capital that is in charge of the exploitation of the Penouta mine, located in the municipality of Viana do Bolo in the province of Orense. In June last year, the Xunta de Galicia granted permission for the extraction of 50 million tonnes of ore. The mining company will allocate €40 million for this initiative. Penouta is,…
Bankinter | Umbrella has completed the permitting, licensing and authorisation phase for its first project in the UK, which will consist of a solar photovoltaic plant with a capacity of 20 MW and lithium-ion battery support. The project is located on the outskirts of the city of Stirling, in Scotland. The construction and maintenance of the entire project will be carried out by the wholly-owned subsidiary IM2 Energía Solar. Umbrella…
On December 23, the National Institute of Statistics reviewed Spain’s 2022 GDP growth, having already reviewed it in September and October. After all the revisions, two points were added to the growth of the first semester and 0.6 to that of the third quarter. Now, the statistics give a preview of GDP in 4Q22, which would have grown by +0.2%, with which growth for the year as a whole would…
Data from the Labour Force Survey (EPA) for the fourth quarter of last year confirm that the Spanish economy’s potential for job creation has been deflated, with the slowest pace of job creation since 2013 and the smallest drop in unemployment since 2012. This puts the spotlight on the effect of the labour reform. It was a law designed to increase permanent contracts, but whose effects on employment and unemployment…
Some 98.43% of shareholders voted in favour of the motion to delist the company. For the company to be effectively delisted, approval from the Spanish Securities and Exchange Commission (CNMV) is still required.Christian Bruch, CEO of Siemens Energy and non-executive chairman of the Gamesa Board of Directors, said: “Our top priority is to solve Siemens Gamesa’s current challenges and to turn the business around. Jochen Eickholt and his team have…
Sunday from 8 p.m. to 9 p.m. is the time chosen by Spanish people to do their shopping. Sixty-six percent of consumers admit to buying products online at least once a month. Twenty-five percent of women shop online every week, while the percentage of men drops to 21%. Clothing (44%), footwear (40%) and electronics (39%) are the most frequently purchased products via e-commerce, These are the findings of the latest…
Renta 4 : The 13,000 employees linked to the Agreement of Linked Companies will receive a 7.8% raise in 2023 plus another €300 in October. This rise corresponds to the adjustment over the period 2019/2022, when the CPI had an accumulated rise of 12.5% and salaries rose by 6.5%, and to a rise of 1.5% in 2023. Work is also underway to update the salaries of non-agreement staff, which includes…
Spending on pensions has increased by almost 1,000 million euros compared to last December’s payroll and exceeds 11,000 million euros for the first time in history: 11,902 million. This is because, in application of the pension reform, pensions have risen by 8.5% by 2023, as a result of average inflation for the period December 2021-November 2022. In January this year, 10,009,149 contributory pensions were paid out, 0.9% more than a…
Alphavalue /Divacons| According to the IMF, the slowdown in Spain’s projected growth in 2023 compared to last year “reflects the effects of higher energy and food prices, tighter financial conditions and weaker external demand”. The agency anticipates that activity will reach its pre-pandemic level in early 2024, when it expects GDP to grow by 2.4% and at a rate of 2.2% in 2025. As for inflation, the institution estimates an…