In Spain

CAF consolidates its position in France with the rehabilitation of 43 trains for Paris

CAF Favourite To Take Over Alstom’s Assets

Spain’s CAF is amongst the investors interested in buying the only factory Alstom has put up for sale in France to meet the conditions imposed by the European Commission on the purchase of the Canadian firm Bombardier. In fact, CAF is the favourite to take over Alstom’s assets. The French unions have positioned themselves in favour of CAF due to the size of the company and their commitment to retaining the entire workforce. That said, CAF will have to compete with Skoda for the factory. 


spain sustainable funds

45% Of Spanish Investors Opt For Sustainable Funds

According to a Schroders’ Global Investment Study 2020, which surveyed 23,000 investors in 32 locations around the world, interest in sustainable investment products has increased globally. Up to 47% of global investors acknowledge that they invest in sustainable products, compared to 42% two years ago. This upward trend has also been seen in Spain, where 45% of those surveyed were encouraged to invest sustainably, an increase of 7% compared to the results for 2018 (38%).


Spain property

The Impact Of The COVID-19 Crisis Begins To Be Felt In Spain Housing Prices

Indicators for the real estate market show a significant recovery in activity in the sector, following the standstill during the state of alarm. On the demand side, home sales recovered well in July and increased by 20% month-on-month, although in cumulative terms for the year to date there is still a year-on-year decline of 25.8%. On the supply side, the construction sector has also quickly restarted its activity. In August, cement consumption was only 2.1% below the level of August last year, with a notable recovery from the 50% fall registered in April.


Spain, Nadia Calviño

Spain’s Budget Plan For 2021: 7.3% Increase In Revenue, Expenditure Ceiling Over 50%

Spain sent yesterday the Budget Plan for 2021 to the European Commission. It estimates an increase in absolute terms of 33.44 billion euros (+7.3% per year) thanks to the increase in activity and by fiscal measures. The proposal is based on a non-financial spending limit of €196.09 Bn, 53.7% higher than that approved in February. The new macroeconomic framework forecasts a fall in GDP of 11.2% this year, with an unemployment rate of 17.1%, and a growth of 7.2% in 2021.


Endesa energy poverty

Endesa Proposes Receiving €16 Bn from European Funds To Mobilise €19 Bn In Investments

Endesa has put forward 110 projects eligible for the EU recovery fund. The whole of these projects would mean a total investment of 19 billion euros (53% of its Enterprise Value and 75% of its capitalization). So the company is requesting 16 billion euros (85% of implicit leverage) from the EU recovery funds. Member countries can submit proposals from today until April 30th, 2021.


Spain renewables auctions in 2022

Spain’s Wind Power Sector Proposes 9 Projects To Raise €12 Bn Of Private Investment With EU Funds

The wind power industry has put forward nine projects using part of the European reconstruction funds allocated to Spain. Earmarking €1.165 Bn from the funds would allow for the activation of private investments worth over €12 Bn and would create more than 30,000 jobs. These projects would make it possible to generate 17.32 terawatt hours of wind power on a national scale. This is equivalent to 30% of the increase in wind power generation envisaged in the National Integrated Energy and Climate Plan (PNIEC).


Spanish Ministry of Economy Nadia Calviño and Ministry of Finance María Jesús Montero

The IMF Predicts A Lasting Impact Linked With The Coronavirus; Spain, Most Affected In Developed World

The International Monetary Fund revised upwards estimates of global growth in 2020 but warned of a long and asymmetric recovery with uncertainties in which Spain will be the developed economy that falls most in the year. Thus, the agency now expects world GDP to fall by 4.4% in 2020 ( against -4.9% in June), thanks to China’s performance. The IMF forecasts for Spain a fall of 12.8% in 2020 to recover 7.2% in 2021. This drop is more than double that expected for the advanced countries as a whole (-5.8%).


naturgy

Naturgy Ends Months Of Disputes With Sonatrach Through A Deal To Cut Price Of Gas Supplies

Spanish gas firm Naturgy has secured its gas supply for the next 20 years at a price lower than the current one. The news comes after Prime Minister Pedro Sánchez’s institutional visit to Algeria. In the wake of this, Naturgy has signed off on the end to the disputes with Algerian state group Sonatrach. At the same time, it has agreed new contracts with the group valued at 20 billion euros over the next two decades.


Telefónica to reduce its reliance on Huawei

Telefonica Is Creating A Subsidiary To Invest In Fiber In Germany

Banco Sabadell | Telefónica is in the final stages of negotiating an agreement to set up an independent company, which would be responsible for the deployment of a fiber optic network in Germany. The investment in the project is about 5 billion euros. Telefonica would structure the project through its subsidiary Telefonica Infra, which plans to sign an accord with an infrastructure fund and a group of financing banks around the end of October.


spain teleworking

Spain Regulates Remote Working For The First Time

The new regulation for teleworking in Spain, approved on September 22nd and agreed with employers and unions, comes into force on Tuesday. The implementation has been accelerated by the covid-19 pandemic, since up until now there was no specific regulation. Telecommuting will be voluntary and reversible for both the employee and the company.