News about Spain | The Corner.eu

Spanish economy 25th April 2022

Siemens Gamesa: The Geopolitical Situation And Internal Factors Like The Complexity Of The Launch Of The 5.X. Platform Are Significantly Affecting The Stock

Renta 4 | For the time being, the company is unable to provide any advance of a new level of estimates (foreseeably they will be able to offer greater visibility during the results’ presentation on May 5). However, they hope to obtain a margin in the low range of the previous guideline on objectives, -4%. This is thanks mainly to the sail of the assets in promotion in southern Europe,…

Spanish economy 25th April 2022

More Cars Over 15 Years Old Are Already Being Bought In Spain Than New Vehicles

According to data from Ganvam, the National Association of Motor Vehicle Dealers, Repairs and Spare Parts, between January and March of this year, 167,120 vehicles over 15 years old were sold in Spain. This compares to the 164,399 new cars registered in the same period. As the president of Ganvam, Raúl Palacios, explained to the business newspaper 5 Días, “In the end, the second-hand market is still a reflection of…

Spanish economy 25th April 2022

BBVA Hikes Price Of Bid For 50.15% Of Turkey’s Garanti From 12.20 To 15 Liras/Share

BBVA’s board of directors has decided to increase the price of the takeover bid it launched last November for the 50.15% stake it does not control in Garanti, its Turkish subsidiary. Specifically, the bank has upgraded the takeover bid from 12.20 to 15 Turkish liras per share, as reported to the National Securities Market Commission (CNMV). BBVA flags that the total outlay for the takeover bid will be 31.595 billion…

Spanish economy 23rd April 2022

Ongoing Instability In Indra’s Top Ranks Since The State Announced Hiking Its Stake: Cristina Ruiz Resigns

Doña Cristina Ruiz, Co-CEO of Indra and in charge of the Minsait (IT) division has resigned due to internal tensions. Da. Cristina Ruiz joined Indra in 2011 as the director of the Energy market. In 2017, she was appointed Executive Director and managing director of Minsait. Then in May 2021, after the exit of Fernando Abril-Martorell, she was named Co-CEO along with Ignacio Mataix, head of the T&D division. The…

Spanish economy 22nd April 2022

The Social Security Expects 36,000 New Affiliates In April And Already Exceeds 20 Million Contributors

The Social Security estimates that April will close with 36,000 more members and has already exceeded 20 million contributors so far this month, with a total of 20,057,588 members as of Thursday, 21 April. This is according to data presented by the Minister for Inclusion, Social Security and Migration, José Luis Escrivá, at a press conference this morning. Escrivá described the data as “very positive”, taking into account “the significant…

Spanish economy 21st April 2022

The offer on scheduled seats for this summer in Spain will reach pre-Covid levels: good news for IAG, which could return to profits in Q2’22

Intermoney | La Asociación de Líneas Aéreas (ALA), the leading organisation in the sector in Spain with 85% of air traffic, announced its forecasts for this summer on Thursday. And the figures for the summer season fuel a moderate optimism. Although a recovery in the sector is not expected until at least 2023, the estimated scheduling for this summer season reaches figures which are very close to those of pre-pandemic…

Spanish economy 21st April 2022

Bizum Reaches 20 Million Users And 1 Billion Transactions

Bizum, the Spanish bank’s mobile payment solution, has reached 20 million users, which means that it is now used by approximately half of the Spanish adult population. In addition, it has also reached 1,000 million transactions, of which 990 million correspond to payments between individuals and 10 million to payments in shops. The volume associated with Bizum transactions has reached €50,558 million since its launch, of which 50,000 were payments…

Spanish economy 21st April 2022

Copying The Portuguese Regulated Electricity Tariff System In Spain Would Reduce The Price By 40%, According To The Chairman Of Iberdrola

The chairman of Iberdrola, Ignacio Sánchez Galán, yesterday called for a modification of the regulated electricity tariff (PVPC): “We have a differential element which is the design of our regulated tariff, unique in Europe. If a design similar to that of other countries is made, the regulated tariff, which only affects ten percent of the energy consumed in Spain, could fall by between 30% and 40%”, he told the media…

Spanish economy 21st April 2022

IMF Downgrades Spain’s Growth Forecast Again: To 4.8% In 2022 And 3.3% In 2023

Link Securities | The International Monetary Fund (IMF) has lowered for the second consecutive time the growth forecasts for Spain within a general downward revision of the global GDP for 2022, as reported by the newspaper elEconomista. Spain’s economy will grow by 4.8% in 2022, one point less than in January’s World Economic Outlook (WEO) and 1.6 points less than in October 2021, when the agency predicted a solid 6.4%…

Spanish economy 20th April 2022

Mapfre’s total premiums grow 10.9% yr-on-yr in Q1’22 to €6.537 B vs +8% en 2021

Renta 4 | The company has published an advance of premiums issued in the first quarter of the year, ahead of the release of the quarterly results on April 28th. Insurance premiums grew 12.1% year-on-year in Q1’22, while total group premiums were up 10.9% at 6.537 billion euros (vs 8% yr-on-yr in 2021, +3.5% vs R4e). By geographical areas, in Iberia premiums rose 2.3% year-on-year in Q1’22, to a total…