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congreso

Spanish economy 23rd September 2024

Congress of Deputies re-examines deficit path for fourth time with Government lacking sufficient support

This Thursday, September 26, the Plenary of Congress, will debate and vote on the budgetary stability and public debt objectives for the administrations for the next three years, with the Government lacking sufficient support to overcome its parliamentary processing. Thus, the path will return to the Lower House two months after being rejected by the votes against from the PP, Vox, UPN, and Junts. Now, the Lower House will once…

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Spanish economy 23rd September 2024

Group of funds ask for seat on board to be able to monitor Brookfield’s possible takeover bid for Grifols

Bankinter | Flat Footed, Mason Capital Management and Sachem Head funds jointly control 7.7% of Grifols (GRF) and have asked for a seat on the Grifols board. Their objective is to monitor the takeover bid process being analysed by Brookfield and to ensure that a high premium is paid. Opinion of the Bankinter analysis team: Negative news and a new complication in the development of the possible takeover bid for…

Naturgy edificio 640x420

Spanish economy 22nd September 2024

Government authorises BlackRock’s entry into Naturgy but bars stock exchange delisting

Banc Sabadell: The Council of Ministers approved the entry of Blackrock in Naturgy (NTGY) after the purchase of GIP (20% NTGY) last January with the guarantees established for strategic companies. Although Blackrock would have requested the possibility of assessing a future delisting or analysing a sale of assets (such as the one included in the Gemini Project), it would have been denied. It will have to face the same conditions…

spain congress

In Spain 20th September 2024

Puigdemont warns Government Junts will topple budget spending ceiling again if no renegotiation

The former president of the Generalitat and leader of Junts, Carles Puigdemont, has warned the Government this Thursday that his party will again vote against the budget stability path. He has done so in response to a publication in the social network X in which a news item was linked to statements by the first vice-president of the Government and Minister of Finance, María Jesús Montero, who said that they…

Over 90% of foreign companies in Spain expect to increase or maintain their investment in 2020

In Spain 19th September 2024

INE Revises GDP Growth for umpteenth Time and Increases 36 Billion for 2023

The umpteenth retrospective revision of Spain’s growth data released this Wednesday by the National Statistics Institute (INE) has once again improved the picture for the years 2021, 2022, and 2023, and has rescued €36.4 billion of last year’s GDP that the initial measurement had not detected, therefore raising the real economic growth for 2023 from 2.5% to 2.7%. According to this new statistical correction, the National Gross Domestic Product approached…

Bank of spain new

Spanish economy 18th September 2024

Bad business? Spain increases public debt by 3.8% in twelve months, reaching 108% of GDP, in order to grow by 2.8% in 2024

The Bank of Spain (BdE) raised its growth forecast for this year by five tenths to 2.8% yesterday, while calling for transparent and prompt fiscal consolidation. It also announced that the total public debt of Spain’s administrations decreased by €8.931 billion in July compared to June (-0.5%), reaching €1.616 trillion, the second-highest figure in historical series. This is slightly less than 108% of GDP. The decrease in public debt in…

port valencia

Spanish economy 17th September 2024

Weight of exports in Spain’s GDP rises from 26% to 39% between 2008 and 2023, according to Bank of Spain

Alphavalue / Divacons | Between 2008 and 2023, Spanish exports have grown by almost 50% in real terms and their weight in the GDP has increased by 13 percentage points, from 26% to 39%, an “extraordinary growth” which has been generalised by products and destinations and which has been higher than that of other large Eurozone economies, according to the latest blog published by the Bank of Spain. Thus, in…

Prisa

In Spain 17th September 2024

Former El País Journalist Explains Pedro Sánchez’s Pressures on Newspapers on Same Day Cabinet Approves “Action Plan for Democracy” to Harass Critical Media

David Alandete, currently a correspondent in Washington, says on X: “Pressures on journalists, like when the current president called me, shouting to change a headline? Or when his press chief already knew in advance the headlines we were going to publish in El País (years ago, I assume this no longer happens) and called to modify them? Or like when one of his ministers informed us of layoffs before they…

santander brasil

Spanish economy 17th September 2024

Santander, BBVA, and CaixaBank Join BIS ‘Agora Project’ to Develop New Cross-Border Payment Methods Using Blockchain Technology

Santander, BBVA, and CaixaBank have been selected by the Bank for International Settlements (BIS) to participate in an initiative launched by the Basel-based institution to develop new cross-border payment methods using technologies similar to cryptocurrencies. Named the Agora Project, this BIS initiative aims to “explore how tokenization can strengthen cross-border payments,” according to the organization, which is considered the central bank of central banks, based in Basel, Switzerland. Specifically, the…

bolsa espana reloj

Spanish economy 17th September 2024

Ibex 35 surprises with better performance, breaking worse trends of previous years against peers

Renta 4 | The new annual highs of the Spanish selective index, breaking the 11,470 point zone, have come hand in hand with a new high in its relative performance with respect to the Eurostoxx 50, a performance that, since October 2022, has been setting new highs, breaking the downward trend since 2009: But the better tone of the IBEX 35 is not limited to the main European index. If…