CdM | In October, 5.5 million travellers from international airports arrived in Spain. This represents a rise of 533% compared with a year earlier, and a decline of 34% versus 2019. Of these, 59.1% chose low cost carriers for their journeys, up 516% from a year earlier (-33.3% vs 2019). Meanwhile, the remaining 40.9 % opted for tradional airlines, up 558% from 2020 (-35% vs 2019). In the 10 months…
The Government is facing a ‘hot’ end of the year in the face of demands being made by economic sectors as important to the Spanish economy as the countryside, the automotive industry and transport. They have already announced demonstrations in response to the problems their respective activities are going through. The Spanish economy is recovering the momentum it lost with the arrival of the pandemic. However, the global supply crisis…
Since 2013 it has been possible in Spain for two municipalities to merge. In that year the law to “rationalise the structures and reduce the atomisation of the municipal map” came into force. The first mergers of villages in Spain took place in 2013 and 2017, respectively, in two small municipalities of Galicia. Now the town councils of Don Benito and Villanueva de la Serena (province of Badajoz, in the region of Extremadura) will open the process of merging to popular consultation, an operation that has aroused particular interest due to the size of both localities.
Spain’s reversal of plans for a windfall tax on power providers leaves utilities facing modest extra payments rather than multibillion-euro tax bills. Iberdrola SA, one of Spain’s biggest utilities, is a case in point, says Scope Ratings. Enel SpA, the Italian parent of Spanish utility Endesa, has provided less information though it is sticking to an EBITDA forecast for its Spanish activities issued before the energy levy was announced.
Fernando González Urbaneja | The mayor of Cádiz has taken the lead in the incendiary protests his city is suffering with a striking statement: “We have had to set fire to Cádiz so that Madrid will take notice of us”. “Setting on fire” as a political practice is nothing new; there were times when it was common, with disastrous results. Here is a mayor with democratic legitimacy and with the…
Spain is the third country in Europe and first in the European Union in terms of the number of free wifi hotspots on its streets, according to a study by VpnMentor, the world’s largest VPN review website. Spain has 93,225 free wifi hotspots, placing it behind only Russia and Ukraine.
Renta 4 | Grifols (GRF) and GIC have obtained the relevant regulatory authorisations to allow The Sovereign Wealth Fund of Singapore to go ahead with its investment to buy 23.8% of Biomat for 990 million dollars. Grifols will, of course, still maintain operating control of the company, as well as access to the recovered plasma in the over 300 plasma donation centres Biomat has in the United States. The funds…
Fernando González Urbaneja | Turkey consolidates BBVA’s internationalisation as the third leg of a bank based on Mexican, Spanish and Turkish business. Three different markets, three currencies, three economic areas. Diversification with risks, perceived as an opportunity. The Turkish bet is not new. It dates back to 2011 when the bank led by Francisco González surprised the market with the purchase of an almost majority stake in Garanti (49%), one…
Renta 4 |In the case of Acerinox, there is a lot of data which grabs the attention, both at a technical and valuation level. During the last 15 years, the price has been forming a defined lateral range, with resistance between 12,70 and 13,75 euros (historic highs). This kind of very long consolidation (in the price) precedes important long-term trends. So it is possible to consider the potential for an…
The employers represented by their employers’ associations, CEOE and CEPYME, announced yesterday that it is impossible to reach an agreement with the Government and trade unions to establish an “Intergenerational Equity Mechanism”. This is what the Government and trade unions intend to do, with a 0.6% rise in contributions over 10 years to alleviate the deficit that will result from the retirement of the baby boom of the 60s. In…