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In Spain

Telefónica to reduce its reliance on Huawei

Ibex, Markets, Spanish economy 14th October 2020

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

Spanish economy 13th October 2020

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. 

Spain tourism GDP

Spanish economy 12th October 2020

Spain Retains Its Third Place In The Most Attractive Countries For Tourism ranking

Icex (Invest in Spain ) | Spain is once again ranked first in Europe and third in the world in the Country Brand Ranking Tourism 2019-2020, which measures the appeal of the country brand of about 200 countries. The report points to possible threats to this position: Hong Kong has already overtaken Spain, while the “United Kingdom and Italy are approaching at a good clip”. The two latter countries appear to be the “two new international giants”, rising five and three places respectively in the world ranking.

gas infrastructure

Spanish economy 9th October 2020

The Integrated Management Of Gas And Electricity Infrastructures In Spain Would Allow Savings Of More Than €2 Bn A Year By 2050

A report by Frontier Economics and the German University of Aachen concludes that integrated infrastructure management (sector coupling) will be essential in achieving decarbonisation, because it minimises costs, makes it possible to decarbonise sectors that are difficult to electrify, increases supply safety, and makes it possible to promote an industry with export potential and job creation.

repsolatardecer

Ibex, Markets, Spanish economy 9th October 2020

Repsol’s Production In The 3Q20 Reached 615,000 b/d, Down 13.5% Compared To The Same Period Of 2019

Repsol reached a production of 615,000 bpd, which represents a decrease of 13.5% compared to the same period last year and 3.8% compared to the previous quarter, mainly due to the US (Marcellus and Eagle Ford). The refining margin, an important indicator for the downstream business, averaged a negative $0.1 per barrel in 3Q20. This level reflects the impact of the worldwide uncertainty caused by the coronavirus crisis. This indicator in the previous quarter was $ 3 per barrel, while in 3Q19 it was $ 5.5.

tasa google tasa tobin

Spanish economy 9th October 2020

Tobin’ And ‘Google’ Taxes To Be Launched In Spain In January 2021

The Spanish Senate has definitively approved the Tobin tax and the ‘Google’ tax. The first is a tax on financial transactions, involving a 0.2% charge on the purchase and sale of shares of Spanish companies with a capitalisation of over 1 billion euros. This will affect 32 of the 35 securities in the Ibex 35 index. The second is a tax on digital services, to the tune of 3%. This will be imposed on multinationals with annual revenues of at least 750 million euros worldwide and 3 million euros in Spain.

Solaria

Ibex, Markets, Spanish economy 8th October 2020

The Ibex Has 35 Stocks Again With The Entry Of Solaria

Bankinter | The Ibex 35’s Technical Advisory Committee has decided to integrate Solaria to the index. It announced the exclusion of MasMovil last September before the takeover bid launched on the company. With this move, the Ibex, which has been temporarily composed of 34 companies, is now complete. Solaria comfortably meets the minimum capitalization criteria and presents very high levels of negotiation. The firm covers the entire solar energy value chain from wafer production to solar parks management. 

Pedro Sánchez and Charles Michel

Spanish economy 8th October 2020

Spain Aims To Create 800,000 Jobs In Next 3 Years; To Use €72 Bn From The European Recovery Fund

The Government has set a target of creating 800,000 jobs over the next 3 years (in the period 2021-23). To achieve this goal, it will use 72 billion euros from the European Reconstruction Fund (60 Bn in the form of non-refundable transfers and 12 Bn as loans with conditionality, out of a total of 140 billion). It is foreseen that 37% of the funds will be earmarked for green investments and 33% for digital transformation. As a result, it is estimated that these areas will contribute +2.5 pp to GDP growth.

Congreso

Spanish economy 7th October 2020

The Spanish Congress Will Create An Academic Advisory Office To Ensure That Scientific Knowledge Is Available To Parliamentarians

The Congress of Deputies will bring to a meeting of its Bureau the proposal to set up a scientific advisory office so that all Members of Parliament will be able to find out what science has to say about any issue up for debate, as is already the case in the United Kingdom, Germany and Denmark, among other nearby countries. The proposal prospered after it was supported by the professional association of lobbyists APRI and by the Minister for Science and Innovation Pedro Duque. The motto of its promoters is “ the specialist informs, the expert advises and the politician decides”.

brazil metro line

Ibex, Markets, Spanish economy 7th October 2020

Acciona Is Awarded Line 6 Of Sao Paulo’s Underground Valued At Some €2.3 Bn

Acciona has formalized the agreement to take over the concession to construct, maintain and operate the São Paulo Metro line 6 (or Orange line). The company signed the agreement for the transfer of the concession, along with the Brazilian consortium MOVE, which had been previously in charge of the project, and the Brazilian State of São Paulo. The project is valued at €2.3 billion (R$15 billion). Once complete, Line 6 will serve 600,000 passengers per day.