Spanish economy slows downturn, the Conference Board reports
LONDON | By The Conference Board | The recent behaviour of the composite indexes suggests that the current contraction in the Spanish economy will continue easing in the near term.
Spanish economy
Creation of mercantile companies grew 0.8% in Spain
MADRID | The Autonomous Communities with the greatest number of mercantile companies created were Comunidad de Madrid (1,679) and Catalonia (1,322).
Spain: numbers show optimism yet political tension grows
MADRID | By Ana Fuentes | Under a strong pressure after the scandal of illegal donations to the Popular Party, Spanish PM Mariano Rajoy will try to spend his summer holidays away from the public eye. Even if the economy is doing better and the Bank of Spain sees the end of the recession coming, citizens are austerity-wary and the political tension has not been eased at all.
For Spanish companies deleverage is the word
MADRID | By Carlos Díaz Güell | After years of heavy investment (in 2007 it reached 112 bn euros), Spanish companies abroad are reducing their debt by selling their assets. Time for deleverage in order to cope with the crisis.
A short step for Spain’s current account deficit to become a surplus
MADRID | By Julia Pastor | Spain’s current account deficit dropped by 76.5% between January and April of 2013 compared to previous year’s last four months. The Spanish economy could close the present year with a long expected surplus as well as some 0.9% financing capacity per GDP.
‘Insiders’: Spain’s unemployment new face
Highly educated, they used to have steady jobs and decent wages… until now. The so-called ‘insiders’ are the new victims of Spain’s unemployment drama, which affects more than 27% of the population. Prospects for 2013 are gloomy, since credit is not flowing, SMEs are choking and consumption remains paralyzed. Have the labor reform and all sacrifices been worth it?
Foreign investors return to Spanish housing market at 2008 levels
MADRID | By Julia Pastor | The number of foreigners who bought a house in Spain grew by 17% in 2012 reaching to 2008’s levels. For instance, 45% of houses in the eastern coast province of Alicante were acquired by outside investors.
Shareholder remuneration higher in Spanish stock market than in European neighbours
MADRID | In Spain, dividends yields have traditionally been high, especially over the last few years, a report by the operator BME showed.
Inditex and Santander, the Spanish to beat their market value during the crisis
MADRID | The textile giant from Galicia has increased its stock capitalisation from $35 million in March of 2008 to $83 million in five years. Regarding Santander, its market value grew from $71 million against $125 million, according to a report by PwC.
Spain’s Supreme court ruled in favour of BBVA, Cajamar and NCG’s clients in mortgage floor cases
MADRID | By Julia Pastor | There are not registers or official data about the real number of mortgages affected by floor clauses, but market sources estimate 80% of the whole.