Spanish Economy News | The Corner .eu

Spanish economy

Telefonica ever closer to selling its Central American subsidiary

Ibex, Spanish economy 26th February 2021

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.

Spanish economy 26th February 2021

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.

Spanish economy 24th February 2021

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.

Ibex, Markets, Spanish economy 23rd February 2021

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.

Spanish economy 23rd February 2021

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.

Ibex, Markets, Spanish economy 22nd February 2021

Acciona To List Its Renewables Division This Year; Expects To Double Installed Capacity To 20 GW By 2025

Acciona expects the IPO to take place this year, market conditions permitting. The perimeter of the new company would include the entire Energy business, excluding the company’s stake in wind turbine manufacturer Nordex. The size and structure of the transaction is yet to be defined, but the free float would at least be 25% of the capital of the new listed company.

Spanish economy 22nd February 2021

Spectrum Auctions In Spain Could Act As Negative Catalysts For The Sector

Morgan Stanley | Spectrum auctions are a key issue for investors in the telecommunications industry, which can act as a negative catalyst for their share price given the high prices we have seen in previous auctions in Italy, Germany and the US. In Spain, there are 3 auctions on the radar. The first is the 3.5GHz – 20MHz band available. This is taking place today, involving Telefónica and Orange, at an estimated price of €21 million per 10MHz block.

Spanish economy, Spanish Small & Mid Caps 19th February 2021

Irish Kerry Launches A Takeover Bid For Spanish Biosearch For 127 M€, At 2.2 € Per Share

Biosearch is a small Spanish biotech company based in Granada, specialising in the research, development and sale of functional ingredients (natural extracts, omega-3 and probiotics) for the nutrition and healthcare markets. The company’s triple positioning in those growing markets has enabled the company to weather the Covid crisis and captured the attention of the giant Kerry Group. Its Spanish subsidiary has made an offer for 100% of Biosearch at 2.2/share, which means a premium of 45.7%

Spanish economy 19th February 2021

Spain’s Public Debt Reaches €1.311 Tr In 2020 (117% Of GDP), A Figure Not Seen Since 1902

Link Securities | Spain’s public debt increased in 2020 by 122.4 billion euros, which takes this item at 1.311 billion euros at the end of the fiscal year, according to data from the Bank of Spain. In terms of Gross Domestic Product, Spanish public debt would have finished last year at 117%, a ratio not reached since 1902 due to the consequences of the Cuban War and the global crisis in agricultural prices.

Spanish economy 18th February 2021

The Reforms That Spain Needs For Facilitating Recovery After Historic Economic Contraction

Scope Ratings | The government is prioritising growth over budgetary discipline, which for the moment is appropriate given the large output gap. Spain will run a wide budget deficit for some time. For 2021, the authorities forecast a deficit of 7.7% of GDP, which is based on a rather optimistic economic scenario. Thus, should growth be weaker than expected in the coming years, Spain’s public finances would deteriorate further – a risk captured with Scope’s Negative Outlook.

« 1 … 143 144 145 146 147 … 297 »