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Spanish banks

Spanish economy 28th July 2021

More Provisions For Spanish Banks In The Coming Years?

Funcas believes that the Spanish banking sector would still have to make provisions amounting to 12,000 million euros in the income statements of 2021 and 2022, and expects an increase in doubtful credit between the end of 2022 and early 2023.Specifically, Funcas estimates that the “peak” of doubtful credit will be reached between the end of 2022 and the beginning of 2023, with a subsequent recovery, so that NPLs will be close to, but slightly above, pre-Covid-19 pandemic levels in 2024.

Ferrovial2

Spanish economy 27th July 2021

Ferrovial Sells Its Environment Business In Spain and Portugal To PreZero For 1.133 Bn Euros

Ferrovial’s Environment division recorded annual sales of 1.018 billion euros in 2020, gross operating profit of 130 million, including dividends, and had an order book of 2.177 billion at year-end. The company has a workforce of 16,000 employees and manages 140 recycling plants where it processes 5.6 million tonnes of waste each year. It also does street cleaning, selective collection and maintenance of green areas in more than 600 Spanish…

The hospital Isabel Zendal, one of the main vaccination centres in Madrid

Spanish economy 27th July 2021

Spain Is The European Country With The Highest Percentage Of People Vaccinated With All Doses

Vaccination against Covid-19 began in Spain exactly on December 27, 2020. Seven months later, the country has passed the milestone of 25 million immunized, and specifically as of July 22, the Spanish public health system has surpassed the United Kingdom (53.39%), the United States (48.28%), Germany (48.18%) and France (44.07%) in percentage of vaccinated population (54.32%) and is above the European average (36.79%), according to the Our World in Data ranking (University of Oxford). Also, Spain already occupies the second position in the ranking of the 5 countries with more than 10 million inhabitants that immunize the fastest, after Chile, which has managed to protect 62.19% of its population against the coronavirus.

madrid museo del prado 003

Spanish economy 26th July 2021

Madrid Finally Has A Site Inscribed As World Heritage: The ‘Landscape Of Light’

The ‘Landscape of Light’ in Madrid, which includes, the Paseo del Prado and the Retiro will be inscribed in 2021 as World Heritage by Unesco. The decision has been communicated in the 44th session of the World Heritage Committee of Unesco from China. It is the first time an urban green space had been nominated. With yesterday’s ‘yes’ the city manages to settle a historical debt because it is currently the only capital of Western Europe without any property inscribed as World Heritage.

vehicle re registration spain

Spanish economy 26th July 2021

Vehicle Production In Spain Falls By 18.1% YoY In June Due To Semiconductor Shortage

Intermoney | In June, vehicle production in Spain fell to 172,696 units produced, down 18.1% on last year’s levels and 33.8% when compared with data from two years ago, according to figures published Thursday by the manufacturers’ association, Anfac. In the accumulated first half of the year, the fall is 21.6% compared to pre-Covid levels of 2019, with 1.2Mn vehicles manufactured. According to Anfac, the fall is due to the…

Ebro Foods's CEO

Spanish economy 26th July 2021

Ebro Foods Sells Panzani For 550 Million Euro To CVC Capital Partners VIII

Ebro Foods has received a binding offer from CVC Capital Partners VIII and has decided to grant the latter exclusive right to sell the Panzani® dry pasta, semolina, couscous and sauces business. The transaction is subject to information and consultation with employee representatives in France, regulatory approvals and approval by EBRO’s General Meeting of Shareholders. The transaction would materialise through the sale of 100% of the share capital of Panzani…

5g network

Spanish economy 23rd July 2021

Spain’s 5G Spectrum Auction In The 700 MHz Band Closes At €1.01 Bn, 1.5% Over Starting Price

Operators will pay 1.01 billion euros, 1.5% more than the starting price of 995 million euros, for the 4 large blocks, 2×10 MHz, while the 3 small blocks, 2×5 MHz, were left without bids. Telefónica, Vodafone and Orange were awarded the licences, while MásMóvil did not bid. Telefónica was awarded block 1 and will pay 310 million euros (starting price 270 million euros), Vodafone block 2 and will pay 350 million euros and Orange was awarded blocks 3 and 4 paying 350 million euros. Vodafone’s and Orange’s blocks were awarded at the starting price.

PilarLlop

Spanish Politics 22nd July 2021

The Judiciary In The Pillory

Fernando González Urbaneja | Pablo Iglesias is not in government, but his objectives are still on course. As he himself explained, his immediate political action should focus on weakening two powers: the Crown and “los togados”, the judiciary. In his opinion the latter is in the hands of Francoist reactionaries who must be subjugated. His thesis is that the judiciary should be subordinated to the executive, to the will of…

Iberdrola

Spanish economy 22nd July 2021

Iberdrola’s Net Profit Drops 18.4% In H1’21

Iberdrola (IBE) has announced net profit of 1.531,3 billion euros in the first half of the year, down 18.4% compared to the same period last year. The fall is due both to the impact of the tax hike in the UK and the recognition in 2020 of the capital gain on the sale of the stake in Siemens Gamesa. At close of trading on Wednesday, IBE was up 0.69% on…

intermediate sectors construction

Spanish economy 21st July 2021

Construction Sector: Seven Spanish Companies Among The World’s Largest In Terms Of revenues

Intermoney | The consulting firm Deloitte has updated its Global Powers of Construction (GPOC) report on the world’s largest construction companies, in which Chinese leadership was once again confirmed, occupying the top five positions. ACS has lost one place this time as it was overtaken by the Japanese company Daiwa, and is therefore in eighth position. The largest European company is Vinci, sixth, just after the Chinese companies. Within the…