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Spanish economy

cereales

Spanish economy 2nd March 2022

Spain, with a deficit in cereals, imports annually almost 30% of the corn it needs from Ukraine

According to data from the agricultural organization Asaja, Spain annually imports almost 30% of the corn it needs from Ukraine. “The Spanish agricultural sector will undoubtedly be one of the victims. Our imports of cereals and sunflower, as well as basic means of production such as manure and fertilizers, will be seriously affected, which will imply a new increase in production costs for the sector”, the association pointed out. In…

spain savings rate

Spanish economy 1st March 2022

Inflation Also Soars To 7.4%.

The Consumer Price Index (CPI) has shot up by 7.4%, the biggest rise since July 1989, according to the National Statistics Institute (INE) on Monday, which will have to be confirmed in two weeks’ time. Inflation is driven, as has been the case for months, by the price of energy, but it is already spreading to the rest of the goods and services in the consumer basket. In fact, core…

Air Europa

Spanish economy 28th February 2022

IAG recognises that Globalia is negotiating the sale of Air Europa with other airlines; confirms it is not looking for alternative investments

Link Securities | The CEO of IAG, Luis Gallego, still left the door open to reaching an agreement with Globalia for the acquisition of Air Europa. However, he also recognises that the Hidalgo family holding is negotiating with other airlines, according to Cinco Dias. He acknowledged this in a meeting with the press after IAG’s results presentation. “This is a strategic purchase for Iberia and IAG, as well as for Spain…

enagas factory

Spanish economy 28th February 2022

Spain Has Guaranteed The Supply Of Natural Gas In The Face Of Russia-Ukraine War

Spain is not in a situation of lack of gas supply in the coming months, as it has scheduled the arrival of a total of 56 ships of liquefied natural gas (LNG) between February and March. It also continues to implement all possible preventive measures to contribute to the guarantee of energy supply, with the launch last week of four other extraordinary ‘slots’ – rights to unload LNG – as…

Meliá

Spanish economy 27th February 2022

Meliá Becomes The Second Biggest Hotel Operator In Vietnam, With A Total Of 24 Hotels And 6,900 Rooms

Intermoney | Meliá Hotels International will become one of the big hotel brands in Vietnam, thanks to a new alliance with the country’s largest domestic hotel owner Vinpearl. As a result of the agreement, the Spanish hotel group will take over management of 12 hotels and resorts in the main destinations spread throughout the country. These are already operational and will be incorporated into the portfolio during the year. With…

Pedro mascarilla españita

Spanish economy 25th February 2022

Russia’s Offensive Surprises The Spanish Economy At A Time When It Was Already Registering The Most Lack of Control on Prices And Unemployment In the EU

Carlos Segovia explains in El Mundo that “Since Thursday a powerful threat of impoverishment has been looming in the EU, particularly in the countries that were already lagging furthest behind in the recovery, with double the unemployment and higher inflation. That is Spain, unfortunately, which had already been slowing down in recent weeks. It was symbolic that Pedro Sánchez cancelled his participation in the Spain Capital Markets forum organised by…

Banco Santander fulfills its commitment to shareholders and raises cash dividend by 3%

Spanish economy 25th February 2022

Santander Adapts Governance to ECB Requests: Cuts Botín’s Executive Functions And Rises CEO’s

Banco Santander held an extraordinary board meeting yesterday afternoon to approve the rebalancing of powers between its executive chairwoman, Ana Botín, and the CEO, José Antonio Álvarez, financial sources told Europa Press. With this decision, Álvarez will report directly to the board of directors and not to Botín, as he has been doing until now. This is a situation requested by the European Central Bank (ECB), so that the entity…

Telefónica to reduce its reliance on Huawei

Spanish economy 24th February 2022

Telefónica earned € 8.137 Bn in 2021, up 20.7% vs yr-earlier; resumes cash dividend for 2022 of 0.30 €/Shr

Link Securities | Telefónica today presented its results for the 2021 financial year, as outlined below: The company’s January-December 2021 results have achieved the upwardly revised annual financial targets in Q2’2021. o Revenue and OIBDA; “stable or slight growth (year-on-year organic)”. Revenues +2.0% and OIBDA +1.4% in 2021. o Return to normalized level of CapEx to sales ratio ex-spectrum of up to 15%. CapEx to sales to reach 14.2% in…

Indra Tecnocom

Spanish economy 24th February 2022

The Government Wants Even More Control Over Indra, But Without A Takeover Bid

The Council of Ministers has authorised the state to hike its stake in Indra (IDR) through SEPI. It will increase its control from the current 18.7% to 28%. “The motive behind the government’s reasoning is greater control in a key company for the country’s defence system”, says Renta 4. At current prices, the increase in its stake would mean an investment of just over 150 million euros. According to press…

ACS Vinci

Spanish economy 24th February 2022

Hochtief (ACS) Launches A Takeover Bid At A$22 Per Share To Delist Cimic From The Stock Market

ACS has decided to make a move to undertake a corporate operation. Thus, the company chaired by Florentino Pérez has decided, through the German construction company Hochtief, to launch a bid for its Australian subsidiary Cimic and is offering its shareholders 22 Australian dollars per share (14 euros) in cash for the 21.4% of the capital it does not own, which would mean a total outlay of around 940 million…