Spanish economy

woman BoD

Parity Target Accomplished In The Ibex35 With 31.2% Of Women On Boards Of Directors

The IBEX-35 companies have registered a historic milestone by finally reaching the 30% target set by the CNMV recommendation for 2020, according to the latest edition of the report ‘Women on the Boards of listed companies’, prepared annually by ATREVIA and IESE. The presence of women in the index grew 3.9 percentage points, to occupy 31.2% of the seats. This progress, however, has not been able to compensate for the sluggish growth of the rest of the continuous market, which only advanced 2 points (22.9%) last year.


Forty years of democratic Spain: Haves and have-nots of labour market

Spanish Labour Market: Sharp Increase In Furloughs in February Brings The Total To Almost 900,000

Randstad Research | Unemployment in Spain increased by 44,436 people in the month of February compared to January thus raising the number of jobless people to 4,008,789, a barrier not surpassed since April 2016, reflecting the restrictions impossed to deal with the third wave of the pandemic. Similarly, ther was an increases of 160,000 people in the number of furloughed employees, bringing the total to 899,383.


AmazonTC

Expected Investment In Logistics In Spain Will Reach Around €2 Bn In 2021

Investment in logistics assets in the domestic market could reach €2 billion euros in 2021 after some respite in 2020, undoubtedly due to the pandemic. All in all, the drop in capital invested in this type of asset in 2020, about €1.6 billion, was only 10% lower than in 2019, compared to a plunge of 35% for the Spanish real estate sector as a whole. Key players include the socimi Merlin Properties, as well as investment funds such as Blackstone, Brookfield and Apollo.



pedro mario

Draghi’s Presence In Italy Reassures Europe, Will Spain Become Their Concern?

Spain may face a surprise problem if Draghi’s government remains for long as, in the eyes of many, we may become the focus of Europe’s problems. In recent years, our authorities have taken a rather conciliatory tone to Brussels, which has made it possible to dilute the fact that we have not fulfilled our commitments, especially when the belligerence of the Northern League’s government made us look like a good pupil. The former head of the ECB knows well how to handle the Community bodies and, above all, the mechanisms to generate a good image in the eyes of the markets.


Telefonica ever closer to selling its Central American subsidiary

Telefónica Cuts Its Dividend, But It Defends That This Strengthens Its Position

Telefónica’s board of directors has cut the dividend payable in 2021, which will now be made in two payments of 0.15 eur/share in June and December (previously 0.20 eur/share), while the “scrip” option is maintained. The first payment of 0.15 eur/share will be in December 2021. Telefónica’s Executive Chairman, José María Álvarez-Pallete, has defended the reduction of the company’s dividend, which he considers to be an appropriate price as it maintains a very high dividend yield compared to the Ibex and the sector as a whole.


fiscal havens

Tax Havens To Have Reduced Fiscal Revenues In Spain By €45 Bn In The Last Decade

The experts of Spain’s Ministry of Finance (Gestha) indicate that tax havens cause a “hole” in the public coffers of 14% of the annual income that is obtained by the corporate income tax, so they estimate that during the last decade 45,000 million euros have been lost in Spain. In view of these figures, the economists see as “disappointing” the update that the EU has just made of its ‘black list’, since the countries that allow elusive practices of many multinationals have been excluded.


Tourism

Spain Announces A Final Aid Package Of €11 Bn For SMES And The Self-Employed

The Government will approve in the coming weeks to earmark €11 Bn in subsidies for companies, SMEs and the self-employed in sectors particularly affected by the economic crisis, such as tourism, hotels, restaurants and small businesses. The aid plan could include haircuts on the financing provided by the Official Credit Institute ICO, which has offered €140 Bn in guarantees. The employers’ associations from the retail and hotel and catering sectors had demanded €12.5 Bn in aid from the different administrations in order to save both industries.


Repsol's plan of acquisitions

Repsol Signs An Agreement With A Chinese Producer To Build Three Chemical Plants In Jiangsu

Repsol has licensed its technology for propylene oxide (PO) and styrene monomer (SM) and polyols so that a 200,000 tons/year PO and 450,000 tons/year SM plant can be built, and two plants with an aggregate production capacity of 125,000 tons/year of flexible polyether polyols (PPG) and polymeric polyols (POP). This agreement is in addition to the three previous technology licensing agreements reached by Repsol with Chinese companies since 2013.


spain tourism

Spain Is The Favourite Tourist Destination In Europe With 46.4% Of Total Flight Bookings For The Summer

The main Spanish hotel companies are concerned about the limited number of bookings for Easter, although they are confident that demand will be reactivated if the vaccination process is accelerated, which would make it possible to have a summer season at least better than that of 2020. With the hopes of reaching a certain level of normality in the second half of 2021- yesterday the “irreversible” UK de-escalation process plan boost tourism stocks- Spain continues to lead the ranking of preferred destinations for travel.