Repsol has produced, at its Petronor Industrial Complex in Bilbao Spain, the first batch of aviation biojet fuel, a sustainable fuel obtained from waste. This important milestone in the production of fuels with a low carbon footprint represents an evolution in the decarbonisation of air transport fuels, a segment where electrification is not viable at the moment. The batch consists of 5,300 tonnes of sustainable fuel, the use of which…
Banco Santander has reached an agreement to buy the 20% it did not control of Santander Consumer USA at a price of 41.50 dollars per share in cash (its initial proposal was 39 dollars), a premium of 14% over the closing price on 1 July, the day before the announcement of its first offer, made through its US holding company SHUSA, which will finally pay 2.48 billion dollars (about 2.1…
Telefónica España, a subsidiary of Spanish telecommunications group Telefónica (TEF), shut down in 1H2021 a thousand copper telephone exchanges, whose service has been replaced with fibre optic lines. The Spanish operator began the process of “switching off” copper exchanges and replacing them with fibre exchanges in 2016 and aims to achieve the total shutdown of its copper network by 2024, coinciding with the company’s centenary. Telefónica Spain’s Chief Operating Officer,…
The year-on-year growth of Spanish exports between January and June (+23.3%) was higher than that of Germany (+16.7%), France (+17.4%) and the United Kingdom (+9.4%), as well as that of the EU-27 (+18.2%).
Spain’s next renewables auction will take place on October 14 and will attract around €2.22 billion. 3,330MW will be auctioned after the 3,000MW auctioned last January and the 8,000MW in May and July 2017. Unlike in previous auctions, on this occasion 1,500MW will be reserved for onshore wind power. In addition, 600MW will be reserved for both photovoltaic and wind energy plants projects in an advanced stage of development and…
Yesterday, the European Commission transferred to Spain the first €9 billion euros of the €69.5 billion it has been allocated from the funds of the Recovery and Resilience Mechanism, within the framework of the Next Generation programme. This amount represents 13% of the total. It is a long-awaited injection, second only to the amount received by Italy, which comes almost a year and a half after the declaration of the…
The debt of general government as a whole reached 1.42 trillion euros in June, a new all-time high, after growing by almost 1.7% in monthly terms. It is the second consecutive month in which it has risen according to data published on Tuesday by the Bank of Spain. Using nominal GDP for the last four quarters, the debt-to-GDP ratio stood at 122.1% in the second quarter of 2021, above the…
Crédito y Caución | According to Iberinform’s monitoring of insolvency proceedings published in the BOE, in the first seven months of 2021 the Spanish economy recorded a 69% increase in corporate insolvencies, 3,838 proceedings compared to 2,270 in the first seven months of 2020. Data for the month of July (657 proceedings) show growth of 30% when compared to the data recorded a year ago. The confinements and moratoriums decreed…
Bankinter analysts explain that Técnicas Reunidas (TRE) , the engineering and construction company, has had to face a particularly difficult year due to the pandemic, with delays in the execution of contracts. This has led to a sharp fall in revenues and net cash and a worsening of its margins, forcing it to resort to a participatory loan of 290 million euros from SEPI (Sociedad Estatal de Participaciones Industriales). The…
On Tuesday, the U.S. Senate approved the expected infrastructure plan, which must now pass through the House of Representatives and finally be signed by Biden. In the end, the amount will be less than initially expected and will reach 1.2 trillion dollars compared to the initial 2.25 trillion dollars. The $1.2 trillion includes $550 billion in new federal spending on roads, bridges and transportation to be executed over the next…