Fernando González Urbaneja | The INDRA case, the socialist government’s interest in occupying the company’s presidency by force, is indicative of a way of understanding public management and exercising power. “Because you are who you are”, that is, because I have the power and I feel like it. SEPI (the Treasury, the government, the PSOE-PSC) has a stake of just under 20% in INDRA that goes back a long way,…
Repsol will stop producing oil in mid-June at ‘Casablanca’, the last oil platform in Spain located in the waters around the coast of Tarragona. The new Spanish Climate Change and Energy Transition Law contemplates that Spain will no longer grant new exploration authorisations, so this shutdown of Casablanca is a step towards this purpose. In 2018, the hydrocarbon field of La Lora in Burgos, the oldest oil field in Spain operating since 1964, was already forced to close.
Pedro Sánchez, took part in the presentation for the business project that will, this year, begin constructing a giant factory in Guadalajara. Every kg of green H2 that replaces a fossil one will avoid 9 kg of CO2 in the atmosphere.
The Social Security allocated 10.154 million euros to the payment of contributory pensions in May. This is a record figure which is 3% higher than a year earlier, the Ministry of Inclusion, Social Security and Migration reported on Tuesday. More than two-thirds of the pension payroll went to retirement pensions, which totalled 7.303 million euros, 3.6% more than in May last year. Widows’ and widowers’ pensions were allocated 1.74 million…
The Bank of Spain’s statistics on the balances, by holders, of Ibex 35 stocks were released today. Foreign investors held 57.21% of the value of Ibex 35 shares at end-March this year, slightly more than the 56.5% they held a year earlier. The value of their holdings amounted to 312.547 billion euros. According to data from the Bank of Spain, households own 14.2% of Ibex 35 shares, some 77 billion…
The British group Universities Superannuation Scheme (USS), the largest private pension fund in the United Kingdom, has entered the renewables business in Spain with a stake in Bruc Energy, the renewables investment vehicle created by the Canadian pension fund OPTrust and the businessman and former CEO of FCC Juan Béjar.USS has bought the 50% stake of Bruc Energy for a total of €225 M. The remaining 50% of Bruc Energy will remain in the hands of the current partners.
The Sociedad Estatal de Participaciones Industriales, Indra’s main shareholder (with 18% and two representatives on the board) has asked not to re-elect the group’s executive chairman, Fernando Abril Martorell, whose term of office ends this year. According to the Madrid press, it is proposing as a replacement Marc Murtra, an industrial engineer whose career has mainly been spent in public management. He was managing director of Red.es, director of Joan…
Coinciding with Spain’s most important tourism fair, FITUR, PM Pedro Sánchez announced that British and Japanese tourists will be able to enter Spain from today. The UK, however, has not yet included Spain on its green list of safe countries, unlike Portugal. Spain’s main source markets are the UK and Germany, accounting for around 50% of foreign tourists.
Brand Finance | The failed European Super League (ESL) project has dented the brand strength of the 12 founding clubs , according to the latest Brand Finance Football 50 report, which ranks the top 50 most valuable and strongest football club brands in the world every year. As well as damaging the strength of the 12 founding clubs’ brands, the ESL proposal has also knocked €606 million off the total…
Beyond the current crisis at the Ceuta border, relations between Spain and Morocco are as long- standing as they are deep. Spain is Morocco’s main trading partner and Spain is both its main supplier (more than 15% of Moroccan purchases are from Spanish companies) and its main buyer. More than 24 per cent of Moroccan exports go to Spain. More than 20,000 Spanish companies have investments there worth some 9…