Watt by watt, clean cars are making their own place in the national vehicle fleet. Specifically, 561,580 cars with non-fossil engines were circulating in Spain at the end of 2019. This is one of the conclusions of an UNESPA report on the use of this type of vehicle. Provinces and cities with higher GDP usually have higher rates. The provinces with the highest rate of clean vehicles are Madrid (3.41%), Barcelona (3%), Alicante (2.71%), Gerona (2.71%) and Las Palmas (2.08%).
T.C. | The Spanish economy will grow by 6.4% in 2021, making it the fastest growing European country, and one of the fastest growing in the world among the advanced economies, along with the United States, where growth is also estimated at 6.4%, according to the International Monetary Fund’s biannual ‘World Economic Outlook’ report, published yesterday.
The Spanish construction group has been awarded one of the largest road contracts of the year in the US to expand the I-35 interstate highway in Texas, with a budget that means 20% of the group’s total 2020 revenues. Ferrovial was chosen in 2005 as a strategic partner of the Texas government to design and build the TT Corridor 35. Furthermore, this US state is one of the Group’s largest markets given that its three largest consolidated concessions globally are located there.
T.C. | The Spanish wind industry, which exports more than 2 billion euros worth of equipment annually, has been accused of dumping by the US administration in one of its main markets. Washington believes that Acciona, Siemens Gamesa, Vestas, and other wind power producers sell their products in the US below production prices.
T.C. | The number of registered unemployed in Spain fell by 59,149 people in March (-1.5%), its largest decline in this month since 2015, according to data published on Tuesday by the Ministry of Labour. With this decline in unemployment, which puts an end to five consecutive months of increases, the total number of unemployed reached 3,949,640 at the end of March.
Funcas | The aim of this note is to outline the recent initiatives in terms of direct aid from the governments of Germany, Spain, France and Italy. While in Italy the aid has been extended to the whole economy, as in Germany and France, in Spain it is limited to the sectors most affected (commerce, hotels and restaurants, leisure, etc.). The amount of aid is relatively low in Spain compared to the other three countries, however Spain is the only country that grants a minimum benefit of 4,000 euros for all eligible businesses.
Miguel Navascués | To build a public housing stock to house those who are now forbidden to be evicted? Or to undertake a plan such as the one proposed by the chief economist of Arcano, supported at the time by the president of Santander? The traction effect of the construction sector is proven, and is indisputable. However, according to Julián Núñez, president of the construction employers’ association, SEOPAN, the data and forecasts are not encouraging.
Fedea has published a study analysing the evolution of the working conditions of young Spaniards over the last thirty years and documents their continuous deterioration. In each recession there is a setback in the employment situation of this group. And this does not fully recover in the subsequent expansion, causing a negative trend in the initial employment conditions of successive groups of young people.
Fluidra has signed an agreement to convert a 130 million euros syndicated credit line subscribed in 2018 into ‘green’ financing. BBVA acted as a sustainable coordinator for the process. So from now on, the conditions of this financing are subject to the company’s performance in environmental, social and governance (ESG) matters. This is the first sustainable financing formalised by a company in the sector and will be used to cover the firm’s working capital needs.
Cellnex Telecom CEO, Tobías Martínez, assured on Monday at the 2021 General Shareholders’ Meeting that the telecoms company will grow by 21% annually until 2025, when it is expected to reach a turnover of between 4.1 and 4.3 billion euros. In this context, the company has announced the terms of the capital increase of 7 billion euros. The capital increase will mean the issue of 192,619,055 new shares at a unit price of 36.33 euros. This implies a discount of 22% compared to yesterday’s closing price.