Home Sales In Spain Rise 40.6%, Its Best September In 14 Years
The number of home sales and purchases in September is also the highest number of transactions in any month since April 2008, when sales and purchases reached 54,801.
In Spain
With The Turkish Lira At Historic Lows, BBVA Launches A €2.25 billion Takeover Bid For The 51% Stake In Turkey’s Garanti It Does Not Control
BBVA, which currently holds 49.85% of the capital of Turkish bank Garanti has agreed to launch a voluntary takeover bid for the remaining 50.15% it does not hold. BBVA is offering Garanti’s shareholders 12.20 Turkish Liras in cash for each share of the Company. This is a 15% premium to the 10.58 Turkish lira at which the bank’s shares were trading on Friday 12 November. The maximum amount to be…
Inditex’s Owner Enters Renewables Business In Partnership With Repsol
The Spanish oil company has announced an agreement with Pontegadea, Amancio Ortega’s investment company, to partner in its first operational wind farm in Spain, representing the investment group’ first renewables deal. Specifically, Pontegadea will invest 245 million euros to take 49% of the Delta wind farm, valued at 500 million, a project with an installed capacity of 335 MW located in the province of Zaragoza (Spain). The remaining 51% of…
Spanish Bank Financing Of Oil And Gas Projects, Incompatible With The Paris Agreement
CdM | Despite adhering to international initiatives, since 2016, the top 60 banks worldwide have dedicated a total amount of $3.8 trillion to fossil fuels. The financing of fossil fuel projects and companies results in GHG emissions incompatible with the economic decarbonisation needed to limit global warming to around 1.5ºC. In the case of Spanish banks, Bankia, Bankinter, BBVA, CaixaBank, Banco Sabadell and Banco Santander have signed up to this…
Spain Not To Reach Pre-Pandemic GDP Level Until Q1’23 VS Germany, France And Italy At End-2022
The European Commission estimates that the Spanish economy will grow by 4.6% in 2021, which represents a cut of 1.6 % compared to the estimate it made in July. According to these calculations, Spain will be the last of the four large euro economies to recover its pre-crisis GDP level. These data contrast with the optimism of the government, which sees a rise in GDP of 6.5% this year and an expansion of 7% a year later.
Naturgy Posts 58.6% Rise In 9-Mths to September Net Profit To €777 Mn, Due To Capital Gains
The energy company, which on 15 September will pay a second dividend of 0.40 euros per share, offers electricity at 66 euros/MWh to its customers for three years.
Spanish Government Leaves Control Of Medgaz In The Hands Of Sonatrach (51%) And Naturgy And Blackrock (49%)
Link Securities | The Ministry of Ecological Transition has left the control of Medgaz in the hands of Sonatrach (51%) and Naturgy and Blackrock (49%). The submarine pipeline is the main entry point of natural gas into Spain until 2031. On July 5th, the fourth vice-president and Minister for Ecological Transition, Teresa Ribera, agreed to grant an exemption to the holders of the pipeline which frees them from the obligation…
Raising Social Security Contributions Is Increasing Labour Costs, When Unemployment Is Our Biggest Problem
In total, the additional cost is 36.25% of wages before deductions, which the government intends to raise by six tenths of a percentage point. The aim of this move is to replenish the reserves of the Social Security system (the piggy bank), in anticipation of the effect of the arrival at retirement age of the generations from the high birth rate phase.
ACS, OHLA win €2.250 bln contract for the Maryland light rail Purple Line
Intermoney | ACS (Buy, TP €40) and OHLA (Buy, TP €0,95) have jointly presented the best bid for one of the biggest public-private contracts in the US. This is the Maryland light rail, known as the Purple Line, with a budget of €2.250 billion. The project was initially adjudicated to the US construction firm Flour in 2016, but it abandoned the works at the 15% stage due to cost overruns….
Hotel Recovery Consolidates In Spain As Madrid And Barcelona Exceed 2019 Booking Figures
For the first time since the start of the Covid-19 pandemic, Spain’s two largest cities, Barcelona and Madrid, have generated more hotel bookings than during the same period two years ago, reaching 111.68% and 102.03% of 2019 figures respectively, as of 24 October 2021, SiteMinder’s World Hotel Index reveals. These figures show the strength of Spanish destinations, beyond the coastal cities of sun and beach tourism, where travellers have already…