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Spanish economy

Inditex crece compressor 1

Ibex, Markets, Spanish economy 10th March 2021

The Two Sides Of Inditex’s 2020 Results: Profit Falls By 70%, Online Sales Grow By 77%

Inditex’s results in the year of the pandemic have shown an annual drop in profit and revenues of 70% and 28%, respectively, although the counterpart for the company has been the rapid conversion of its business model to the online environment, with internet sales growing by 77%. On the other hand, Inditex’s Board of Directors will propose a €0.70 per-share dividend at the Annual General Meeting scheduled for July. It will consist of an ordinary dividend of €0.22 and an extraordinary dividend of €0.48 per share.

working at office

Spanish economy 10th March 2021

The Renewal Of The Insolvency Moratorium Could Worsen The Situation Of Businesses On The Verge Of Bankruptcy

The so-called insolvency moratorium for all companies in a situation near bankruptcy will be extended for the third time since the the health crisis began. A good number of experts believe that with this new extension, the situation of those firms will only get worse, as this is not sustainable indefinitely. In December 2020, the Spanish government did not consider either the criteria of the Bank of Spain, which flagged the moratorium would allow a higher survival rate of non-viable companies.

Spanish public debt

Spanish economy 9th March 2021

Three Funds For The Spanish SMEs’ Aid Package

The new 11 billion euros stimulus package for the financial equilibrium of hotel and tourism firms, as well as small businesses, will get the green light from the government at the end of the week. This aid scheme will be backed by three funds to provide direct help for companies : one with aid to affected businesses channelled by the autonomous communities, a second one for the conversion of ICO credits and a third one for the recapitalization of medium-sized companies.

ACS Cimic

Ibex, Markets, Spanish economy 9th March 2021

ACS Led State Contracts In 2020

Procurement of civil works by the Ministries of Transport and Ecological Transition fell last year by 57%, bringing it back to 2015 levels. The company which benefitted most was ACS, which topped the rankings of both ministries, with a total portfolio of €279Mn. The low activity led a non-civil construction company such as Siemens to take second place (€133Mn), thanks to a railway signaling contract.

spanish economy

Spanish economy 8th March 2021

The Problem Is Not The Debt, It Is The Primary Deficit

Ofelia Marín Lozano | A business with a positive operating result is viable in the long run, even with a lot of debt. So is a country with a primary surplus. Spain has not achieved this since 2007, with the real estate bubble. But the different behaviour of countries in an ordinary, normal situation (their higher or lower deficits, their surpluses or not in good times) can mark a very different future evolution, which is not evident at first sight. These notable differences are well exemplified by a comparison between Italy and Spain.

Iberdrola will sign a global agreement with Nissan to promote electric cars

Ibex, Markets, Spanish economy 8th March 2021

Iberdrola And Seat Team Up With The Government To Build The First Electric Battery Plant In Spain

Iberdrola has agreed a public-private partnership with Seat and the Spanish government to build a battery factory for the electric car in Catalonia, specifically in the city of Martorell, where the automaker has its factory. However, this alliance could be open to other partners. The sources quoted in some media suggest that the investment would be around €6.8 Bn and that the project is likely to receive part of the resources from the European recovery fund.

wholeshale electricity market

Spanish economy 5th March 2021

The Reform Of Spain’s Electricity Market Is Still On The Table, Despite Depending On European Regulations

Last Tuesday, the Spanish Council of Ministers gave the green light to the general guidelines of its Sustainable Development Strategy for 2030. The document stated that “the required regulatory changes for the reform of the electricity market should be addressed, putting an end to the extra compensation that certain technologies receive”. Implicitly, this refers to nuclear and hydraulic energies. However, the government has little control to make such modifications as the wholesale electricity market is under the umbrella of European regulations.

telefonica vivo

Ibex, Markets, Spanish economy 4th March 2021

Telefónica Joins CDPQ To Create Fibrasil, A Neutral Fibre Wholesale Network Provider In Brazil

Upon completion of the transaction, Telefónica and Caisse de dépôt et placement du Québec will each hold 50% in FiBrasil under a co-control governance model. Telefónica Group’s 50% participation will be held through Telefônica Brazil (“Vivo”) and Telefónica Infra, the infrastructure arm of Telefónica Group, each holding a stake of 25%. Operating as a neutral wholesale company, FiBrasil is set to deploy and operate fibre-optic networks in selected mid-sized cities across Brazil outside the state of Sao Paulo.

sovereign wealth funds

Spanish economy 4th March 2021

Spain, Among The Top Ten Recipients of investment from Sovereign Wealth Funds

In 2020 there were 95 active Sovereign Wealth Funds managing, for the first time, more than $9 trillion around the world, which means a growth of 8% over the previous year, says the latest SWFs 2020 Report elaborated by IE University in collaboration with ICEX-Invest in Spain. At least 67 countries have a sovereign wealth fund, two more than in the 2019 study

investment funds general

Spanish economy 3rd March 2021

Only 8 Spanish Funds Would Have Liquidity Problems In The Event Of A ‘Major Shock’

Spanish mutual funds has a high degree of liquidity, says the CNMV after analyzing the mutual funds in a statistical exercise that puts these in a potential scenario of “large-scale shock” and with a “very low probability of occurrence” to see what could happen in the event of participants requesting massive redemptions for a crisis such as the Covid19 one . The exercise shows that only eight Spanish mutual funds could present problems. The total number of existing mutual funds is 2,700 according to the latest report by Pablo Fernandez (IESE).