Spanish Economy News | The Corner .eu

Spanish economy

Spanish economy 20th September 2021

The Summer Campaign Generated Over 900,000 Hospitality Contracts; 400,000 More Than Last Year, But 29% Less Than Pre-Pandemic

Randstad | Comparing the figures provided by the State Public Employment Service (SEPE) from ten years ago, we can see that the hospitality sector generated 912,401 contracts during the summer campaign, i.e. during the months of June, July and August. A figure 76% higher than last year, when 518,263 contracts were recorded, but still 28.8% below the 1,281,964 signed in 2019, before the outbreak of the pandemic. Whatsmore, this volume is on a par with that obtained in the summer of 2014, when 908,436 contracts were signed.

Spanish economy 19th September 2021

Shutting Down Nuclear Power? It Is Not Possible

Fernando González Urbaneja | The conflict over the escalating price of electricity goes from bad to worse, from threat to threat and from one brag to another. The latest is the Nuclear Forum warning (perhaps threatening) to shut down the nuclear power plants that today provide almost a third of the electricity fed into the grid. A boastful threat, highly improbable, if not impossible. Nuclear management is too important for…

Spanish economy 17th September 2021

Naturgy “Freezes” The Price Of Electricity At €60 MWh

Naturgy, the third Spanish electricity company in terms of number of customers, behind Endesa and Iberdrola, is freezing electricity tariffs at the levels they were before the price hikes. This is to prevent users from suffering the uncontrolled increases the market is experiencing. To this end, from 15 September, it is offering to apply a cap of 60 euros per megawatt hour to all customers currently on regulated tariffs. Beyond…

Spanish economy 17th September 2021

Renewable Sector Joins Big Electricity Companies Against Energy Reform; Plan a Historic Legal Battle

The government’s energy reform is stirring up the whole sector, according to the daily Expansión. Not only the large electricity companies, such as Endesa, Iberdrola and Naturgy, which are already preparing a legal battle. Renewable energy companies are also coming out en masse demanding that this reform be softened by modifying some aspects as the the energy sold outside the daily market, through bilateral contracts (or PPAs, in technical jargon) will also be reduced. These bilateral contracts are the essence of the current development of the renewable energy sector, because they serve to finance it.

Spanish economy 16th September 2021

Let’s Talk About Productivity

Fernando González Urbaneja | Two economic and labour issues are occupying the public debate: how to sustain employment and how to increase wages. These are seemingly incompatible goals, but labour markets are so complex they cannot be locked into simple equations. Claiming that lowering wages will increase employment is as unfounded as claiming that raising wages will reduce employment. There are other, more complex factors involved in order to achieve…

Spanish economy 15th September 2021

The Government Cuts Electricity Companies “Extraordinary” Income

CdM | The Government cuts electricity companies’ “extraordinary” income by €2.6Bn: €1.221Bn for Iberdrola, €976Mn for Endesa, €188Mn for Naturgy, €144Mn for Acciona and €71Mn for EDP. On Tuesday, the government approved through a Royal Decree-Law a shock plan to contain the escalation of electricity and gas prices. According to Morgan Stanley’s analysis team the measures – assuming they are effective in Q4’21 and Q1’22- will have a strong impact…

Spanish economy 15th September 2021

Inditex Sells 9% More Than In H1 2019

Link Securities | Inditex (ITX) has presented its results for the first half of its fiscal year (H1 2021), which runs from February to July, achieving record sales, EBITDA and profits. Revenues came in at €11.936 billion, 49% higher than in H1 2020, and in line (-0.3%) with the figure expected by FactSet’s analysts’ consensus. At constant exchange rates revenues grew by 53%. Online sales at constant exchange rates rose…

Spanish economy 15th September 2021

Spain Is The Fifth Country In The World In Cryptocurrency ATMs

On 7 September, El Salvador became the first country in the world to adopt Bitcoin as legal tender, which means that companies and businesses in the country are obliged to accept it as a form of payment in day-to-day transactions. However, in this country there are only four Bitcoin and other cryptocurrency ATMs (machines where users can buy or sell cryptocurrencies). The US is the country with the most cryptocurrency…

Spanish economy 14th September 2021

BME’s AIAF Market Exceeds €47 Billion In Sustainable Funding

Fernando Rodríguez| The AIAF market has surpassed 47 billion euros in sustainable fixed income issues with the incorporation today of the Kingdom of Spain’s first green bond for 5 billion euros. The Spanish government placed this bond last week, as part of a sustainable financing programme that the Treasury’s latest estimates put at a total of 20 billion euros. The funds will be used to finance projects promoting the ecological…

Spanish economy 14th September 2021

Thirteen Banks Lost Money In Spain In The First Half Of The Year, Two Less Than A Year Earlier

A total of 13 banks operating in Spain posted net losses in the first half of 2021. This is compared to 15 entities that recorded ‘red numbers’ in the same period of the previous year, according to the financial statements of banks published on Friday by the Bank of Spain. In the first half of the year, ten banks associated with the Spanish Banking Association (AEB), one of the Spanish…

« 1 … 168 169 170 171 172 … 346 »