World economy

Acciona

Acciona Energía to expand MacIntyre wind farm in Australia to 2.000 MW; most important project to date

Renta 4|Acciona Energía has announced the expansion of the MacIntyre wind energy complex which is currently under construction in Queensland, Australia. It will reach a total installed capacity of 2000 MW. The MacIntyre complex is divided into two wind farms, where Acciona Energia owns 70% of 923 MW, while 103 MW belong to Queensland state-owned company CleanCo. Valuation: Positive news. This is the most important project to date of all…


dollar 1

Can non-U.S. equities overcome a strong U.S. dollar?

Steve Caruthers & Steven Sperry (Capital Group) | There’s no denying that the relentless rise of the U.S. dollar has been challenging for investors in non-U.S. equities. The currency translation effect (that is, losses and gains resulting from the conversion of non-U.S. investment returns into U.S. dollars) has dented global equity portfolio results. There are two ways currency movements can affect investors. In addition to translation effects at the portfolio…


China trade policy

China once again upsets September’s foreign trade figures

Luis Alcaide | Little has emerged from the face-to-face meeting between Xi Jinping and Pedro Sánchez during the G7 meeting in Bali. Only the Spanish Prime Minister’s request to his Chinese counterpart to exercise his best offices with Vladimir Putin to stop his invasion and destruction of Ukraine. Nothing has come to light about the bilateral relations between Spain and China, despite the fact that China is the leading international…


china happy

Chinese consumers – life beyond Singles’ Day

Nicholas Yeo (abrdn) | The world’s biggest annual shopping event is not America’s Black Friday, it’s China’s ‘Singles Day’, held on 11.11, as the date symbolises both those who are single and those who have newly formed a couple. Across the country, people treat themselves and each other to presents, parties and shopping splurges. The unstoppable rise of the Chinese consumer means the celebration has become the world’s largest online…


The effects of world trade tensions remain in the future

CyC lowers the growth forecast for global trade: 1.5% for 2023

Crédito y Caución has lowered its growth forecasts for world merchandise trade in volume to 1.5% for 2023, compared to 4% that reflected its previous estimate. The downward revision occurs as a result of the sharp cut, to 1.7%, of the world GDP growth forecasts for 2023. A few weeks ago, the World Trade Organization already announced that it expects that the growth of world trade capped at 1% in…


XI Biden

Biden, Xi focus on Taiwan and forget about Ukraine

Alicia García Herrero * (Natixis) | It is hard to imagine a more momentous meeting than the one Presidents Joe Biden and Xi Jinping just held on the sidelines of the Group of Twenty meeting in Bali. Russian President Vladimir Putin’s absence certainly made things easier, as it opened the door for the G20 communiqué to address the Ukraine war, but it is not going to go beyond a compromise…


Belt and Road at five years

Will the Belt and Road Initiative be another casualty of the pandemic?

Alicia García Herrero (Natixis) *| China’s grand infrastructure development strategy, the Belt and Road Initiative (BRI), has suffered as a result of the COVID-19 pandemic, at least when measured by the amount of funds lent or invested by China in BRI projects. This decrease in funding is one of the most visible signs of China’s increasing isolationism and worsening global image. President Xi announced China’s most important soft-power strategy on…


Repsol-Alaska

Repsol boosts natural gas production, strengthens its position in US

Link Securities | Repsol has strengthened its offensive in the US to boost its natural gas output. According to sources consulted by el Economista.es, the group has reached an agreement with Australia’s Santos-Oil Search to take a 49% stake in a total of 46 exploration blocks in Alaska. At the same time, the Spanish oil and gas company has acquired a mining area from Abarta in the Marcellus basin and…


US elections, Joe Biden

USA: no Democratic landslide

Fernando González Urbaneja | We are learning in these uncertain times that it is all bulls up to the tail, that the electoral results are those that are certified by the bodies in charge of controlling the votes. And that often takes time. In Brazil, the electronic system made it possible to verify Lula’s victory on election night itself, albeit by a very small margin, but enough to avoid any…


energy sector

For the first time in decades, the number of people without access to electricity is set to increase in 2022

IEA (*) | The global energy crisis, which will weigh heavily on negotiations at the COP27 Climate Change Conference that starts next week in Egypt, is also undermining efforts to ensure universal access to secure affordable energy, especially in the developing world where populations without access to electricity are once again growing.  According to the latest IEA data, the number of people around the world who live without electricity is…