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Spanish economy

Arcelor Mittal

Spanish economy 11th March 2022

Spanish Industry Starts Shutting Down Its Factories Over Energy Prices, Demanding Government Action Now

Business associations representing industry operating in Spain have joined forces for the first time to call on the government to intervene urgently to change the electricity market rules and end the sharp rise in prices due to the conflict in Ukraine. The associations are calling on the government to adopt an urgent decision in the Council of Ministers to reform the marginal electricity market for the duration of the conflict,…

sovereign wealth funds

Spanish economy 10th March 2022

Sovereign Wealth Funds Invested €2.8 Billion In 12 Spanish Companies In 2021

Fernando Rodríguez| Sovereign wealth funds’ investment in Spanish companies last year was the third largest in total volume in the last 10 years. This is according to the report Sovereign Wealth Funds 2021 Changes and Challenges accelerated by the Covid 19 pandemic, presented today by Icex and the Instituto de Empresa (IE). GIC, one of Singapore’s two sovereign wealth funds, and Abu Dhabi’s investment vehicle were the two most active…

orange

Spanish economy 10th March 2022

Orange España And MásMóvil To Merge… If Brussels Does Not Raise Any Objections

Orange España, the French group’s Spanish subsidiary, and the MásMóvil group have confirmed exclusive talks with a view to a 50/50 merger of their respective businesses through a €19.6 billion joint venture. This would value Orange at €8.1 billion and Másmóvil at €11.5 billion. The resulting new group would become the leader in the Spanish mobile market, with 27 million mobile customers, and would have combined revenues and EBITDA of…

fossil fuels

Spanish economy 9th March 2022

Spain And Europe, Plunged Into Total Energy Chaos

Julián González (Capital Madrid) | The war in Ukraine has brought economic and energy chaos to Spain and the whole of Europe. Brussels does not rule out the possibility of a collapse at all levels due to the upward spiral of both oil and gas prices. And it has forced many countries to prepare to face the biggest energy crisis, even greater than those in 1973 and 1979. The European…

sanchez

Spanish economy 8th March 2022

A Pact On Incomes, A Question Of Methodology

Fernando González Urbaneja | Sánchez’s speech in Parliament on Wednesday could go down as one of the most consistent and substantive speeches of his term in office. Then he remained in the debate on the arms shipment to Ukraine, which was an important aspect, but not the most important or the only one. The arms shipment was a rectification, not unusual for Sánchez, of the position he had maintained 48…

Indra Tecnocom

Spanish economy 8th March 2022

The Government would have proposed to Telefónica and La Caixa that they enter Indra’s capital to form a core shareholding

Bankinter | After the announcement on February 22 that SEPI had acquired an additional 10% of Indra’s capital, raising its holding to 28%, the government would have proposed to Telefónica and Criteria Caixa that they acquire a stake. The aim would be to form a core shareholding in the defence systems company. Moncloa would have proposed to Telefónica and Criteria Caixa that they each buy 5-10% of Indra’s capital. Neither…

REE-grids

Spanish economy 7th March 2022

The Price Of Electricity Soars And Reaches An All-Time High This Monday, At 442.54 €/MWh

The average price of electricity in the wholesale market will rise this Monday by 16.76% and will mark its most expensive record in history, an average of 442 euros/MWh. This is amid the heat of the rise in the price of natural gas due to the impact of the war in Ukraine. It will thus surpass the previous all-time high of 383.67 euros/MWh, which was reached on 23 December. Furthermore,…

Acciona

Spanish economy 3rd March 2022

Ferrovial, Acciona win AVE (Murcia-Almería) contract worth €171 M

Intermoney | Ferrovial (FER) (Hold, Target Price 24 euros/share) and Acciona (ANA) (Buy, Target Price 200 euros/share) have won a contract to build part of the AVE between Lorca (Murcia) and Pulpí (Almeria). The project will require an investment of 171 million euros, according to the Expansión newspaper. The work will consist in completing the 31 kilometres double track platform, as well as a tunnel, ten viaducts and 28 structures of…

unemployment spain

Spanish economy 3rd March 2022

Unemployment Falls By 11,394 People In Its Best February Since 2015, With A Record Number Of Permanent Contracts

The labour reform boosts permanent contracts to almost 22% of the total and more than doubles them with respect to 2021. In the last year, unemployment accumulated a record drop of 897,105 people, which is 22.4% less jobless. The number of unemployed registered in the offices of the public employment services (formerly Inem) fell by 11,394 unemployed in February (-0.3%), its best rebound in this month since 2015, when unemployment…