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spain savings rate

Spanish economy 31st December 2020

The Savings Rate Is ‘The Data Of The Year’ For 2020 in Spain, Says Funcas

In the Q2 of the year, household savings reached an unprecedented level in Spain, namely 22.5% of disposable income. Funcas has chosen the savings rate, particularly the one recorded in that period, as ‘The data of the year.’ Through this initiative, its researchers have highlighted a particularly significant figure for the Spanish economy during this year about to end. Before the current crisis, the maximum savings rate for families was 12.1% in Q209, while the average in the period 1999 to 2019 was 8.2%.

Unicaja Liberbank merger

Ibex, Markets, Spanish economy 30th December 2020

Unicaja, Liberbank Re-Order The National Banking Map With Their Merger: The Fifth Spanish Bank Has Arrived

The boards of directors of Unicaja and Liberbank finally approved the merger of the two lenders. Unicaja will control 59.5% of the resulting entity, while Liberbank will own the remaining 40.5%. This operation creates the fifth largest national banking group, which will start operating from June, with an asset volume over €108 Bn. For Bankinter’s analysts, the deal a priori makes strategic sense in terms of scale and diversification, as well as financial sense (efficiency and profitability). But the key is in the details.

spain vaccination

Spanish economy 29th December 2020

The Beginning Of The End Of The Pandemic Starts In Spain With The Arrival Of The First Vaccines

Almost eleven months after the first case of coronavirus in Spain, the biggest vaccination campaign the country has ever seen has begun. After the first expected batch of 10,000 units that arrived last weekend from Belgium at the warehouses that Pfizer has in Guadalajara, another one with 350,000 unites will follow today. The delivery will be repeated every Monday for the next 12 weeks until the 4,591,275 vaccines bought from this laboratory have been issued, with which 2,295,638 citizens will be immunised.

spain housing construction 1

Spanish economy 28th December 2020

NGEU And 2021 Spain’s Budget: A Significant Amount Allocated To Relaunch Spain’s Real Estate Sector

CaixaBank Research | The Recovery, Transformation and Resilience Plan (PRTR) for the Spanish economy could be an important catalyst for the real estate sector. With the help of European funds, the government plans to recondition half a million homes between 2021 and 2023, with the aim of improving their energy efficiency and thereby helping to achieve the agreed decarbonisation targets. The General State Budget (PGE) also proposes a notable increase in the funds allocated to housing policies.

LaRobla Hydrogen

Ibex, Spanish economy 24th December 2020

Enagás and Naturgy promote the largest green hydrogen plant of Spain

Enagás and Naturgy will work together to develop the largest hydrogen plant in Spain in León. The aim will be to produce up to approximately 9,000 tons per year of renewable hydrogen from a 400 MW photovoltaic plant and an electrolyzer of up to 60 MW. The energy generated will not only be used to cover local consumption, but will also be injected into the gas network and be an option for future export to northwestern Europe.

Santander

Ibex, Spanish economy 24th December 2020

Banco Santander Launches LandCo, A Land Management Company With A Gross Value Of €4.5 Bn

Banco Santander has once and for all launched its land management company, transferring 13,000 assets from the bank with a gross value 4.5 billion euros. These are located in 3,500 different urban areas. Of the total number of plots, 45% have the qualification of finalist land, 40% of land under management, and 15% of rustic. The management company has been renamed LandCo (its previous name was Landmark).

spain business network

Spanish economy 23rd December 2020

Preserve What We Have: The Official State Gazette Is Not Enough To Generate A Business Network

J.P. Marín Arrese | In our country, the somewhat simplistic view that the manna from Brussels will by itself work a miracle to rescue us from the pothole has spread. It will finance projects and investments for the future, such as digitalisation or the transition to a more sustainable economy. In general, it is good to support innovation as a tool to promote a modernisation of the economy. But, without ignoring current assets. These are the ones that support employment and a whole set of supplier companies.

UK flights

Spanish economy 22nd December 2020

Spain Joins The Rest Of European Countries And Suspends Its Flights With The UK

The new strain of coronavirus which has emerged in the UK has led to a long list of countries freezing air traffic with the island, including Spain. In fact from today, only Spanish residents and citizens will be able to return home from the UK. The measure, which has been taken in coordination with Portugal, will mean the cancellation of around 200 daily flights. This will be particularly prejudicial for the Canary Islands, where 1 out of every 2 tourists is British.

IAG stil commited to accord with Globalia

Spanish economy 21st December 2020

Iberia Will Buy Air Europa But At Half The Initial Price: €500 Million

The Spanish airline and its UK parent company IAG have approved the acquisition of Air Europa for €500 M. With the provison that SEPI facilitates the final agreement. This figure is half of what was agreed a year ago when the operation began to be forged due to the impact of the pandemic. The payment will not be made until 2026.