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housing market spain cities

Spanish economy 28th September 2020

Teleworking In Spain Will Moderate Urban Mobility And Residential Decisions But Not Change Secular Trends

The coronavirus pandemic forced a high percentage of Spaniards to telework. Despite this figures has been declining as the social distancing measures have been lifted, many firms are already considering the option of offering their employees a more flexible way of working, combining days working face-to-face in the office with working remotely.  Iin this article experts at CaixaBank Research will analyse its implications for urban mobility and, from a longer-term perspective, for the residential real estate market.

Spanish banks mergers

Spanish economy 28th September 2020

Spanish Bank M&A: Reaching The Next Level Of Efficiency Gains

Spanish banks have made drastic efforts since the financial crisis to improve efficiency. They were among the most active in Europe to adjust their branch networks. But while the number of branches has reduced in many countries, the workforce has not always followed the same pace of adjustment. For analysts at Scope Ratings, there is still room for efficiency gains, particularly as digitisation continues. “Transition in Spain can only accelerate, leaving room for consolidation”, they say.

Hydrogen Spain

Spanish economy 25th September 2020

Spain Bets On The Renewable Hydrogen And Aims To Become a Exporter To The EU

Spain does not want to be left behind in the area of renewable hydrogen, currently the most efficient technological solution for storing and transporting energy. The  government has already launched a consultation of its ‘Hydrogen Roadmap’. The draft includes 57 measures to prepare the regulatory framework and sets targets for 2030 such as reaching an installed capacity of 4 GW, which represents 10% of the target set by the European Commission for the whole of the EU.

Spain countryside

Spanish economy 24th September 2020

The Spanish Countryside Has Lost Two Million Workers Since 1976

Funcas | The Labour Force Survey shows the extraordinary decline of agricultural occupation in recent decades. In 1976, those employed in this sector (2.6 million people) accounted for over a fifth of total employment; in 1991 they represented less than a tenth (1.3 million) and already in 2007 agricultural employment had fallen below a twenty-fifth of total employment (801,000). Since then, this proportion has stabilized around 4% of the total occupation (734,000 people in jobs in 2019).

PharmaMar2

Ibex, Markets, Spanish economy 24th September 2020

PharmaMar Debuts This Week In An Ibex With 34 Stocks

On Monday, PharmaMar joined the Ibex 35, the main Spanish stock market index. It will will be composed of 34 stocks until October 19th, following the exclusion of MásMóvil after Lorca Telecom Bidco’s takeover bid. The Ibex 35’s Technical Advisory Committee unexpectedly announced on 10 September that PharmaMar would replace Ence in that index. Since then, the company’s share price has risen by more than 17% to 103.8 euros at last Friday’s close, recovering its July levels.

Spanish Banks precious

Spanish economy 24th September 2020

Spanish Banks Lose €11.531 Bn In H1 2020

Spanish banks recorded aggregate attributed losses of 11.531 billion euros in the first half of 2020. This came in the wake of an effort in terms of provisions and write-offs to the tune of 26.518 million euros. Preparation for the economic impact of the Covid-19 pandemic was behind this effort, according to the Spanish Banking Association (AEB).

Banco Santander fulfills its commitment to shareholders and raises cash dividend by 3%

Ibex, Markets, Spanish economy 23rd September 2020

Santander’s Cash Dividend Of €0.1/Shr For 2021; €0.1 In Shares As A Complementary Dividend For 2019

Banco Santander’s board has agreed to hold the next general shareholder meeting on October 26-27. In line with what was announced in July, there will be a request to approve a bonus capital increase to distribute new shares equivalent to 0.10 euros per share as a complementary dividend for 2019. It would be paid this year and bring the total remuneration for 2019 to 0.20 euros per share, equivalent to a 40% payout.

Spain devastated

Spanish economy 23rd September 2020

Spain Enters Technical Recession: GDP Falls 17.8% April-June And 21.5% Year-On-Year

The Spanish economy went into technical recession in the second quarter of the year after registering a 17.8% drop in GDP between April and June. This is the biggest quarterly fall in the National Statistics Institute (INE)’s historical series which began in 1970. That said, this decline has been less than was anticipated at end-July. At that point, and in the absence of some data, the INE estimated that GDP would have declined by 18.5% in the second quarter.

ibedrola renewables

Ibex, Markets, Spanish economy 23rd September 2020

Iberdrola To Develop The Still Inmature Japanese Offshore Wind Market

Iberdrola is targeting the Japanese market as a new platform for growth in renewable energy, specifically in the field of offshore wind. It has signed a deal with Macquarie’s Green Investment Group to acquire 100% of the local developer Acacia Renewables, which currently has two offshore wind farms under development, with a combined capacity of up to 1.2 GW. The operation will allow Iberdrola to position itself in the early development stage of Japan’s offshore wind market.

Novavax

Spanish economy, Spanish Small & Mid Caps 22nd September 2020

Novavax Will Manufacture Its COVID-19 Vaccine In Spain

US biotech company Novavax has signed an agreement to carry out the industrial production of its vaccine for Europe in Spain, once it becomes available, with Spanish pharmaceutical Zendal (through its subsidiary Biofabri). The Spanish Agency of Medicines and Health Products (AEMPS), dependent on the Ministry of Health, has affirmed that this fact is an “important” boost for Spain’s pharmaceutical industry.