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ibercaja

Spanish economy 21st January 2022

Ibercaja Banco, With A ROE Of 6.62%, Will Be Floated On The Stock Exchange

Ibercaja Banco intends to go public via an initial public offering of ordinary shares to qualified investors, the Spanish Securities and Exchange Commission (CNMV) has been informed. The placement will be made by the Ibercaja Foundation, which holds 88.04% of the shares. The remaining 11.96% is held by the Fundación Círculo de Burgos, the Fundación Inmaculada de Aragón and the Fundación Caja Badajoz. Through the share offer, the Ibercaja Foundation…

siemens gamesa

Spanish economy 21st January 2022

US justice Rules In Favour Of Siemens Gamesa In The Conflict Over Patents With General Electrics

Renta 4 | The United States International Trade Commission (USITC) has ruled in favour of Siemens Gamesa (SGRE) on the issue of the complaint submitted by General Electric regarding the patents of some of the components of wind turbines. The USITC has denied GE’s claims. The ruling affirms that Siemens Gamesa did not infringe any intellectual property rights with respect to the Zero Voltage Ride Through Patent. That said, the…

Hydrogen Spain

Spanish economy 20th January 2022

Spanish Hydrogen Network (Shyne) Is Born

Repsol, Enagas, Talgo, Alsa, Bosch, Scania… 22 large companies and 11 entities (associations and universities) have formed a consortium to promote green hydrogen from Spain, with the support of European funds and investments of 3,230 million euros. The Secretary of State for Energy, Sara Aagesen, was present at the presentation of the consortium, “Shyne”, and announced that the first 400 million of a total of 1.555 billion euros in European…

Spain tourism GDP

Spanish economy 19th January 2022

Exceltur says Spain’s tourism GDP could reach €135 Bn in 2022, €41 Bn over 2021; but still €19 Bn below 2019

Banco Sabadell | Exceltur has published its forecasts for 2022, flagging that it expects a strong recovery in Spain from the month of April. According to the tourism lobby, it expects the GDP contribution from tourism in Spain to reach 135 billion euros. This is 41 billion euros over 2021, but still 19 billion below 2019 figures. Whatsmore, the lion’s share of companies surveyed expects to recover 2019 revenue levels…

Priceofemissionsright

Spanish economy 18th January 2022

Europe: Bad Decisions And Lack Of Skill Explain The Rise In Electricity Prices

Clemente Polo | It is not the ‘markets’ but rather political decisions and a lack of skill in playing the game of market diplomacy that are behind the sharp rise in electricity prices in Spain. Neither EU institutions nor European governments, including Spain’s, have found the right formula to improve the reduction of greenhouse gas emissions without endangering the welfare of several hundred million citizens. Most member states are highly…

inno

Spanish economy 17th January 2022

COTEC Foundation Launches An Open Call To Combat Inequality Through Innovation

#PIA2022 will select innovation projects with which Cotec will actively collaborate to combat any type of social divide. In addition to funding (up to 40,000 euros), Cotec will provide knowledge, experience, projection, access, visibility and positioning. To participate, all you need to do is register a proposal in less than 100 words, before 10 February, through the COTEC website. The Cotec Foundation for Innovation is launching an open call to…

Madrid Gran Via2

Spanish economy 17th January 2022

Recovery And Truth

Enrique Badía y Liberal | While we remain attentive to the incidence rate and the numbers of hospitalised and dead, answers to crucial questions in any crisis are scarce or in doubt: what is happening, how long will it last? It is easy to answer that we are contending with a pandemic. However, it is not clear that we know enough about the how and why of each response chosen…

Black Spanish olives could lose practically the entire US market

Spanish economy 16th January 2022

Spain Exceeds 1 Million Tons Of Olive Oil In 2021

Intermoney | The Spanish olive oil sector closes 2021 with positive figures above 1.2mn tons of oil produced, supported by a year without adverse weather phenomena that could damage the olive fields, according to data from the Small Farmers and Stockbreeders Union. Currently, the harvest is at 70% over 867,000 tons in Spain, with production reaching 530,000 tons in December 2021 alone (+14% vs. Dec20).

Spain tourism

Spanish economy 15th January 2022

Tourism will recover 87% of pre-Covid levels in 2022; BUY Melia and IAG, which have started the year up 9% and 16% respectively

Bankinter | Exceltur believes that from April onwards the “trough” of the virus will have been overcome and that tourist activity in Spain will reach 135.465 billion euros in 2022. This is compared with 88.548 billion euros in 2021 and would mean recovering 87% of pre-Covid levels (154.487 billion in 2019). Despite the improving activity, the tourism lobby foresees a negative impact on both the margins and results of tourism-related…

Spain Catalonia

Spanish economy, Spanish Politics 14th January 2022

Living in Catalonia (I&II)

Clemente Polo | Living in Catalonia is becoming increasingly oppressive. Even for those of us who decided one day to pack our bags and move to an Autonomous Community that stood out from the rest for its social and cultural dynamism and its cosmopolitan vocation. When I was offered a place at the Autonomous University of Barcelona after giving a seminar in June 1984, nobody thought to ask me where…