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Spanish economy

intangibles

Spanish economy 16th March 2021

Investment In Intangibles In Spain Stands At Around 6.5% Against 7% In Germany And 12% In The US

Claudia Canals and Oriol Carreras Baquer (Caixabank)| Given the importance of investment in intangibles for boosting the digital transition, we wonder what impact NGEU will have on this type of investment. To answer this question, first we estimate the average increase in the relative weight of investment in intangibles as a proportion of GDP in Spain between 1995 and 2017. We then measure the impact that NGEU will have on investment in intangibles, considering in the calculation the carry-over effect that this programme could have on private investment.

FelipeVIOk

Spanish economy 15th March 2021

Felipe VI Will Be Vaccinated… When It Is His Turn (*)

T. C.| “Spaniards are peculiar, they want to live like Americans but they think like Cubans” explained a USA ambassador on leaving Madrid. And he was right. So nobody can find it strange that finally a group of “Bolivarians” are part of the Government of Spain. People who, a short while ago, used to denounce the Spanish political caste and now have made their leader’s wife a Cabinet minister; without anybody batting an eyelash.

ibex 35

Spanish economy 15th March 2021

Analysts Cut Their Profit Forecasts For Ibex Companies By 30% In 2022, Says The Bank Of Spain

The upturn in expected profits in 2022 for listed companies in Europe and Spain began in November, after the announcement of effective vaccines against the virus. Since then the improvement in expectations for the coming year has been “relatively modest”. Specifically, analysts forecast that profit expectations for Ibex firms in 2022 will be 30% below those expected in February 2020, although they also expect the negative impact of the pandemic on the profits of listed companies in 2022 to be lower than in 2021, according to the Bank of Spain.

bank spain

Spanish economy 12th March 2021

Spanish Banks’ Debt With The ECB Doubles In One Year

Spanish banks’ debt with the European Central Bank, which reflects their gross demand of the institution’s regular financing operations, did not show any change in February and remained unchanged at 261.21 billion euros, exactly the same as a month earlier. However, according to Bank of Spain data reported by Europa Press, the increase is 100.24% compared to the same month of the previous year.

rural spain

Ibex, Markets, Spanish economy 12th March 2021

Telefonica, Orange And Vodafone To Develop Joint Networks In Rural Areas With EU Reconstruction Funds

The telecom operators Movistar, Orange and Vodafone have agreed to form an alliance to bid together for the deployment of 4G and 5G mobile networks in rural areas that will be financed with European reconstruction funds. Specifically, Movistar, Vodafone and Orange would build between 3,000 and 4,500 new radio sites, adding an extra 15% and 23% to the existing ones. 

renewables toreras

Spanish economy 12th March 2021

Spain’s Appeal For Investment In Renewables

The national installed capacity of renewable energies between 2006-2021 has increased significantly, especially wind and photovoltaic energy. As pointed by Intermoney, they have grown 139% and 9,110%, respectively. Similarly, the installed conventional energy (coal and fuel + gas) has decreased with declines of 53% and 73%, respectively. Spain would also exceed the European targets for the penetration of these energies with 42% compared to the European 38-40%. For the experts of Renta 4, the very strong operational and financial growth of the companies will be coupled with the growing trend of ESG.

oil rig

Spanish economy 11th March 2021

Crude Oil Imports To Spain Fall 10.5% In January, To 4.475 Million Tons

Crude oil imports to Spain in January reached 4.475 m tons, which represents a 10.5% decrease agaisnt the same month last year, maintaining the levels of the last half of 2020, says the Corporation of Strategic Reserves of Petroleum Products. In January, 27 types of crude oil were imported from 14 countries. Nigeria was the leading supplier of crude oil with 979,000 tons, representing 21.9% of the total. It was followed by Mexico, with 721,000 tons – 16.1% of the total – and Libya, with 608,000 tons – 13.6%.

Inditex crece compressor 1

Ibex, Markets, Spanish economy 10th March 2021

The Two Sides Of Inditex’s 2020 Results: Profit Falls By 70%, Online Sales Grow By 77%

Inditex’s results in the year of the pandemic have shown an annual drop in profit and revenues of 70% and 28%, respectively, although the counterpart for the company has been the rapid conversion of its business model to the online environment, with internet sales growing by 77%. On the other hand, Inditex’s Board of Directors will propose a €0.70 per-share dividend at the Annual General Meeting scheduled for July. It will consist of an ordinary dividend of €0.22 and an extraordinary dividend of €0.48 per share.

working at office

Spanish economy 10th March 2021

The Renewal Of The Insolvency Moratorium Could Worsen The Situation Of Businesses On The Verge Of Bankruptcy

The so-called insolvency moratorium for all companies in a situation near bankruptcy will be extended for the third time since the the health crisis began. A good number of experts believe that with this new extension, the situation of those firms will only get worse, as this is not sustainable indefinitely. In December 2020, the Spanish government did not consider either the criteria of the Bank of Spain, which flagged the moratorium would allow a higher survival rate of non-viable companies.

Spanish public debt

Spanish economy 9th March 2021

Three Funds For The Spanish SMEs’ Aid Package

The new 11 billion euros stimulus package for the financial equilibrium of hotel and tourism firms, as well as small businesses, will get the green light from the government at the end of the week. This aid scheme will be backed by three funds to provide direct help for companies : one with aid to affected businesses channelled by the autonomous communities, a second one for the conversion of ICO credits and a third one for the recapitalization of medium-sized companies.