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Spanish economy

Ibex 35

I.R. Spain, Spanish economy 5th October 2020

Remuneration, Independence Of Directors, Capital Increases And Dividends Of The IBEX 35, Under The Magnifying Glass Of Proxies In Spain

Fernando Rodriguez | ECGS and Georgeson’s reports on recommendations given to investors at the 2020 shareholders’ meetings point to the main weaknesses in governance. “The aspects of the information distributed at the IBEX 35 shareholders’ meetings that received the most negative voting recommendations from us are similar to those from other companies in Europe,” summarises Juan Prieto, CEO of Corporance, the proxy advisor that belongs to the European ECGS network. So far this year, Corporance has made recommendations to investors at 36 shareholders’ meetings, in total, 614 concrete proposals on different items on the agenda, 18 for each annual shareholders’ meeting.

ACS Vinci

Ibex, Markets, Spanish economy 5th October 2020

ACS Negotiates With Vinci The Sale Of Its Industrial Subsidiary Cobra For €5.2 Bn

ACS is in talks with French infrastructure group Vinci over the sale of its industrial division, Cobra, valued at approximately 5.2 billion euros. Vinci’s offer is purely indicative and non-binding. Of the total 5.2 billion euros, a minimum of 2.8 billion would be paid in cash. The rest of the amount could be paid in cash or in Vinci shares. If this was the case, then ACS would hold a 5.86% stake in the French firm. This would make it the second largest shareholder after the employees (8.2%).

Spain FMI

Spanish economy 5th October 2020

Spain Needs A “Clear Governance Structure” To Oversee The Use Of European Funds, Says IMF

According to the annual review of the Spanish economy, known as ‘Article IV’, the IMF believes the impact of the European funds will increase the GDP growth forecast for 2021 to 7.2%. This compares with the previous estimate of 6.3% made in June. The final forecasts will be made known in October, when the institution will publish its biannual ‘World Economic Outlook’.

employment office

Spanish economy 2nd October 2020

Spain’s Jobless People Cut By 26,329 In September, Record Drop Since 1996; Rate Doubles The Eurozone’s

The labor market in Spain added 84,013 affiliates in September, the largest increase for this month in the series, while the jobless people fell by 26,329, also an historic high for the ninth month of the year, reported the Ministry of Labor today. With this figures the total number of unemployed reached 3,776,485 by the end of September. Even so, Spain leads European unemployment in August, with a rate of 16.2%, which is double than that of the Eurozone (8.1%), according to data published yesterday by Eurostat.

Elecnor basura espacial

Spanish economy 2nd October 2020

Elecnor Will Provide The Control System For Europe’s First Mission To Clean Up Space Debris

Elecnor, through its Portuguese aerospace subsidiary Deimos Engenharia, has been selected to develop the guidance, navigation and control systems for the Clearspace-1 mission. This is the first European mission aimed at cleaning up the garbage in space. The framework for this project is the European Space Agency’s (ESA) Adrios programme, the first European space debris removal mission, scheduled for launch in 2025.

Madrid coronavirus spread

Spanish economy 2nd October 2020

Spanish Government Imposes Mobility Restrictions And New Criteria To Halt The Coronavirus Spread In Madrid

Spain’s government will restrict movement in major cities facing severe outbreaks of Covid-19 from Friday night, thus avoiding the total lockdown model the whole country experienced in March. The measures will apply to cities with over 100,000 inhabitants, where there is an infection rate greater than 500 per 100,000 people over the next two weeks. All regional leaders debated on Wednesday and a majority agreement was reached in the end, although Madrid, Galicia, Andalucia and Catalonia voted against it.

MELIA CHINA lujo

Ibex, Markets, Spanish economy, Uncategorised 1st October 2020

Meliá Takes The Advantage Of The Chinese Tourism Recovery Opening Its Fifth Hotel In The Country

According to the China Tourism Academy, more than 90% of hotels and tourist attractions in the country have reopened along with around 60% of travel agencies after containing the pandemic. Against this backdrop, Meliá Hotels has resumed work on an expansion plan which aims to double its presence in China within two years, from 5 to 10 hotels in operation. The reactivation of the domestic market have encouraged the company to open an ultra-luxury urban resort in Chengdu this week.