Spain ranks, along with Greece and Italy, among the European countries with the highest weight of the underground economy. In Spain, black money represents 24% of Gross Domestic Product, just behind Greece – at 36% – and Italy, at 31%, respectively. These are the figures recently published in a report for the Centre for Economic Policy Research (CEPR), prepared by authors Francesco Pappadà, a professor at the University of Venice,…
Goods sold by the 27 EU member states to the U.S. will be subject to a 20% tariff, as announced by Donald Trump. For Spanish exports—just over €18 billion last year—it will have an impact of at least €3.2 billion, or 0.2% of GDP, and will particularly hit capital goods, metallurgy, and agricultural sectors—such as olive oil, fruits and vegetables, or wine—which account for more than €14 billion in exports….
Luis Alcaide | The synthetic indicator of export activity prepared by the Ministry of Economy and Trade for the fourth quarter of 2024 shows a slight increase in the order book of around 0.6% for the first three months of 2025. Likewise, the twelve-month outlook maintains an even more modest but positive percentage. Flickering lights on the future of exports in the current year. The order book indicator has accurately…
The Independent Authority for Fiscal Responsibility (Airef) has criticized the methods used by Social Security to balance its calculations and has warned about the lack of sustainability of pensions, which ‘has not improved after the reforms,’ pointed out Airef President Cristina Herrero, who noted that ‘the dynamics of pensions are now worse than before’ the reforms promoted by former Social Security Minister José Luis Escrivá, which included revaluation with inflation…
US President Donald Trump’s trade siege of Venezuela, revoking permits to do business with the Venezuelan state holding company PDVSA, has ensnared US-based Global Oil Terminals, India’s Reliance Industries, Italy’s ENI, France’s Maurel & Prom… and Repsol, which has more than €500 million in equity risk in that country. This is evident from Repsol’s 2024 annual report. After systematically reducing its equity exposure in Venezuela for several years, in 2024,…
Eurostat, the European statistical office, estimates that Spain is as far from the European average per capita income as it was in 1999, 25 years ago, according to the newspaper El Mundo today. Progress since then has been zero, measured in terms of Gross Domestic Product per capita and purchasing power. It’s not that Spanish income hasn’t grown in this first quarter of a century. Eurostat estimates it at €27,770…
The year 2024 ended with consolidated public spending exceeding €700 billion. The final figure, which was revealed this Thursday, amounts to €722.846 billion, an absolute record in history. This fabulous amount is about €230 billion higher than the same concept in 2018, the year Pedro Sánchez came to power as Prime Minister after winning a vote of no confidence against Mariano Rajoy, explains La Razón newspaper. The accounts for 2024…
The Minister of Labour, Yolanda Díaz, and her team have spent three years without specifying how many people with fixed-discontinuous contracts are registered in the public employment service offices, arguing that the registration of job seekers is the responsibility of the autonomous communities. However, despite this opacity, the statistical services of the department do handle and even publish these figures. Thus, they estimate that in 2024, the number of people…
Repsol has partnered with Schroders Greencoat, a manager specialized in renewable infrastructure from Schroders Capital, which enters as a partner with a 49% stake in a wind and solar portfolio of 400 megawatts (MW), valued at €580 million. The portfolio includes eight wind farms, totaling 300 MW, located in Huesca, Zaragoza, and Teruel. Additionally, it encompasses two photovoltaic plants totaling 100 MW in Palencia. All assets are expected to be…
Jefferies | Rovi Laboratories (ROVI), ahead of its CMD (9am UKT), has announced a revenue forecast for FY30E of 1.5-1.8 times FY24 levels, a midpoint of €1.261 billion (up 10% versus estimated JEF €1.144 billion). This growth is driven by the forecast of a two-fold increase in CDMO revenues in 24, to around €700 million in 2030E (up 60% compared to €429 million in 2005). Including the additional €250 million…