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Aena nuevo

In Spain 10th December 2024

CNMC freezes 2025 airport charges in 2025 because Aena “too conservative in forecasting traffic”

Banco Sabadell | The National Commission for Markets and Competition (CNMC) has rejected Aena’s proposal to raise airport charges by about 0.5% in 2025, admitting that the claims of some airlines were justified. It argues that Aena was too conservative in forecasting traffic, which has in fact gone up twice during the year. Assessment: Negative news with limited impact. We already included this increase in our estimates and P.O. although…

Redeia nuevo

In Spain 9th December 2024

Redeia commits to marine energies and eyes taking over country’s marine substation network

Link Securities | The company wants to become the monopoly of the marine electricity network, according to the newspaper elEconomista.es. Redeia is looking for new business niches to strengthen the company’s growth and has set its sights on the development of marine energy, mainly wind power. According to several industry sources consulted by this newspaper, the system operator has already shown the Government its interest in taking charge of the…

Closed

In Spain 9th December 2024

Bankruptcies of SMEs reach 15-year high after 26% rise

According to the Spanish Confederation of Small and Medium Enterprises (Cepyme), throughout the year, between the first and third quarters, there have been 7,182 bankruptcies of SMEs and individuals with economic activity, which is 26% more than during the same period in 2023. Additionally, the confederation highlights that “this is the highest figure in the last 15 years for the first nine months of the year.” Of those bankruptcies, 7,064…

Caixabank kio 2

In Spain 6th December 2024

Caixabank CEO warns banking tax will reduce volume of credit and make it more expensive

Link Securities | Caixabank (CABK) informed the National Securities Market Commission (CNMV) that the rating agency Fitch Ratings Europe Limited (Fitch) has upgraded the following credit ratings of the Bank: Long-term issuer rating to A- from BBB+. Senior preferred debt rating to A from A-. Non-preferred senior debt rating to A- from BBB+. Subordinated Tier 2 debt rating to BBB from BBB-. Derivatives counterparty rating to A(dcr) from A-(dcr). Long-term…

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

In Spain 5th December 2024

Spanish students fall behind in Maths and Science: 28th out of 32 in EU and OECD ranking

The TIMSS study, the second largest international assessment, comparable in magnitude to the PISA report but focused on fourth-grade students aged 9 and 10, brings bad news for Spain, which ranks 28th in mathematics among the 32 participating OECD or EU countries. Castilla y León and Asturias occupy the top positions, while Catalonia is again at the bottom.This is reflected in the 2023 International Study of Trends in Mathematics and…

Talgo diferente

In Spain 5th December 2024

India’s Jupiter Wagons potentially interested in Talgo

Banc Sabadell | Indian manufacturer Jupiter Wagons (19.24% owned by Slovakian train manufacturer Tatravagonka), which designs passenger cars, freight wagons and parts) is reportedly in contact with various players involved in the Trilantic succession process to apply to become an industrial partner (without control), according to elEconomista. No further details have been given on the status or scope of the negotiations. Assessment: The appearance of more interested parties would be…

Spain tourism

In Spain 4th December 2024

Tourism in Spain up 10.8% to record levels – 83 million visitors by October

Spain received 82.9 million tourists by October, which represents a 10.8% increase compared to the same period last year, according to data from the National Statistics Institute (INE). This data also shows that these tourists spent €110.984 billion in our country, an increase of 16.8%.The main source countries were the United Kingdom, which sent 16.5 million tourists (a 7.1% increase), France (with nearly 11.5 million and an 11.1% increase), and…

Molins

In Spain 4th December 2024

Cementos Molins: first listed company to return to Catalonia after ‘procés’

The board of directors of the cement group has unanimously agreed to return its headquarters to Catalonia, as announced in a statement sent to the National Securities Market Commission (CNMV).Seven years later, Cementos Molins is leaving its current headquarters on the Paseo de la Castellana in Madrid, where it moved its tax residence, and is returning to the town of Sant Vicenç dels Horts in Barcelona, marking the first return…

CAF factory

In Spain 4th December 2024

CAF awarded second batch of trains for Metro de Madrid for more than €400 million

Bankinter | CAF (CAF) announced on Monday the award of the second batch of trains, some 40 narrow gauge trains, for Metro de Madrid, which will cost more than €400 million. The first batch was also awarded to CAF in June 2024. Opinion of Bankinter’s analysis team: Good news after a weaker than expected third quarter. This contract represents 3% of the total order book. In addition, this second batch…

Spain's banking sector

In Spain 3rd December 2024

Bank of Spain warns: Spain growing due to public spending but losing competitiveness with eurozone due to labour costs

Following the latest and controversial revisions by the National Statistics Institute (INE), Spain’s GDP exceeds the pre-COVID level by 5.7%, compared to 4.2% in the eurozone, thanks to public consumption, as household spending and investment are “lagging”, as the Bank of Spain points out.However, not everything is bright in the progress of the Spanish economy. On one hand, it has lost competitiveness compared to the eurozone as a whole due…