Spanish economy

hybrid car

The Automotive Sector Becomes The Target Of The First Spanish Strategic Plan For Economic Recovery

This week, the recovery plan was presented in Parliament, to which, over the next three years, nearly €50,000 million will be allocated. Among the investments of the ten main projects presented, more than €13.2 billion will be earmarked for sustainable mobility and electric cars, making the automotive sector the target of this first strategic plan for economic recovery and transformation (PERTE). This plan will be aimed at encouraging the installation of recharging points (deploying at least 80,000 to 110,000 new recharging points) and the purchase of electric vehicles (reaching 250,000 electric vehicles by 2023 to achieve the target of 5 million electric vehicles by 2023).


Naturgy Expands Alliance With Sonatrach; Shares Outperform IFM’s Takeover Bid Price

Naturgy (NTGY) has reached an historic agreement with the Algerian company to expand the capacity of the Medgaz pipeline that supplies natural gas to Spain. The agreement provides for a 2 bcm (2,000 million cubic metres) per year increase in the pipeline’s capacity, 25% more, to over 10 bcm/year from the fourth quarter of this year. Once the extension is operational, 25% of Spanish natural gas consumption will pass through…

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Spain: Inflation Remains At 2.7% In June, Its Highest Rate In Four Years

The CPI remains at 2.7% in June, its highest rate in four years, due to electricity and food prices. The Consumer Price Index (CPI) rose by 0.5% in June compared with the previous month and placed its year-on-year rate at 2.7%, the same as in May and one tenth of a percentage point higher than at the end of last month, according to data published today by the National Statistics…


Inditex Today Approves A Dividend Of EUR 0.70 Per Share

Inditex (ITX) today holds its Annual General Meeting of Shareholders where, amongst other matters, it will approve the payment of a gross dividend of 0.70 euros per share. This will be divided into an ordinary dividend of 0.22 euros gross per share and an extraordinary dividend of 0.48 euros gross per share. On the occasion of the AGM, in an interview with the newspaper Expansión, Inditex Chairman, Pablo Isla, gave…


Indra To Equip The 38 German Eurofigthers

Indra has signed contracts worth €100 million to equip the 38 Eurofighters the German Ministry of Defence has acquired as part of the Quadriga programme, with the latest generation systems that will ensure the aircraft’s superiority for decades to come. The firm will develop and produce, in consortium with German sensor supplier Hensoldt, the new ESCAN Mk1 electronically scanning radar.

Iberdrola east anglia

Spain Could Contribute Up To 40% Of The European Offshore Wind Energy Target By The End Of The Decade

With 27.5 GW of installed power on land, Spain is the fifth largest country in the world, behind China, the USA, Germany and India. It also has a shipbuilding industry, a maritime-port sector and technological and engineering capabilities that have already made the country an international benchmark in the value chain of offshore wind installations. However, offshore wind as a technology has hardly been developed in Spain due to the high depth of territorial waters for projects with fixed foundations -inviable from a depth of 50 metres.

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Spain: Business Start-Ups Reach Their Highest Figure Since 2007

Last May, 9,570 new companies were created in Spain, the highest figure for a month of May since 2007, according to data from the National Statistics Institute (INE). This was more than double the number created in May 2020. That said, INE recalls that in May last year the number of companies incorporated, which increased capital or were dissolved “was exceptionally low” due to the declaration of the first state…


Large Companies Infected By Villarejo

Fernando González Urbaneja | Over the last two decades, for very sound reasons, big companies around the world, including Spanish ones, have shown interest in improving their governance model, what is now called “governance”. There is an abundance of academic literature, recommendations from regulators, legal regulations in all areas and explicit commitments from managers and directors blessed by boards of directors and general meetings. It is clear that efforts and…

Repsol's bet on alternative energies

Bank Of Montreal Has A 3.4% Stake In Repsol

Bank of Montreal informed the CNMV on Monday that it holds a total of 3.467% of the voting rights of Repsol (REP). However, it does not specify whether this is in its own name or in the name of third parties, nor the average acquisition price. This stake would make it the fifth largest shareholder after Sacyr, with 8.2%, JP Morgan with 6.8%, BlackRock with 5% and Amundi with 4.5%….