Spain

Markets 20th April 2012

“Long-term investors should enter Ibex’ big names, dividends are very attractive”

By Tania Suárez, in Madrid | Fernando Luque is editor and analyst at Morningstar. In a conversation with The Corner, Luque remarked that it is difficult to know whether the Spanish Ibex has already reached bottom, and added that long-term investments at current market prices seem more interesting. Wolfang Münchau wrote in the pages of the Financial Times that if Spain can’t reach the deficit target, it will be bad and if it…

Companies 20th April 2012

Ferrovial wins €109-million contract in Madrid-Galicia high-speed railway

MADRID | Ferrovial Agroman, a construction subsidiary of Ferrovial, was awarded a contract to build the Padornelo Tunnel-Lubián section of the Madrid-Galicia high-speed railway line, for €108.8 million. The section of line, which is 7.6 kilometers long and will have a single-track 8.5-meter wide bed, crosses the Requejo and Lubián municipalities, in Zamora province. The project includes the construction of the right gallery of the Pardonelo Tunnel (6,407 meters long) and galleries…

Markets 19th April 2012

Skandia: Spanish bonds’ weakness containable, banks fully funded until 2015

LONDON | The latest Spanish financial turbulences are unlikely to start a new downturn for risk assets appetite, Skandia Investment said in a market commentary on Thursday. The investment management company believes that the recent weakness in Spanish bonds, although may become a new phase of the euro zone debt crisis, should not affect equities and other risk assets. Rupert Watson, head of asset allocation at Skandia Investment Group, remarked that…

In Europe 19th April 2012

European Commissioner Viviane Reding: “We’ll fight for our social welfare state”

She is the most experienced member of the European Commission and it shows. In her third term at the European institution, Viviane Reding does not shy away from discussing almost any subject, not even the poor economic situation of Spain, which she addressed in detail during an exclusive interview with Cinco Días. Reding is travelling on Thursday to Madrid, to meet with several members The official thesis in Brussels finds…

Interviews 19th April 2012

Something Canadian that Spain may like: public-private partnerships

By Rose Marie Losier, director general at the Canada-Spain Chamber of Commerce | Public infrastructure in Canada has been aging in recent years and the country has seen the need to replace them. In this context, governments at both federal and provincial level, have found in models of public-private partnership (PPP) an interesting formula that allows them to leverage funding and innovation with support from the public sector. What are PPPs? The public-private…

World economy 18th April 2012

Emerging markets, opportunity or trouble?

By CBRE’s Eduardo Fernández-Cuesta, in Madrid | In a time of extraordinary global economic and political uncertainty, multinational corporations have focused their growth plans in the opportunities offered by emerging markets. Indeed, they are countries attractive for growth and increasingly popular. Turkey, for example, grew by over 8% last year, becoming one of the fastest growing economies worldwide along with Brazil and Mexico, which has based its spectacular development in recent years…

Spanish economy 18th April 2012

Pharmaceutical co-payment: Spanish pensioners charged 10%

By Tania Suárez, in Madrid | One more twist in the reform plans introduced by the Spanish government: time is up for the public health system… again. The vice-president Soraya Sáenz de Santamaría said in March that “the matter of the [sanitary] co-payment is not on the table of the Cabinet; it is as simple and crystal clear as that.” In Spain, the pensioners did not have to pay for…

Spanish economy 18th April 2012

Spain’s cooperation sector shows a country with international ambitions

By Olivier Longué, director general at Acción Contra el Hambre | Spain remains a country that invests in solidarity, even in times of economic distress. Its citizens have given ample evidence of this in recent years, both here in Spain as during the crises that took place outside our borders (Horn of Africa or Haiti). The Spanish people do not seem readily willing to sacrifice the possibility of a better world despite the…

Markets 18th April 2012

Affaire Repsol: Wall Street criticises Argentina’s move

NEW YORK | Amid a fresh gust of optimism as Spain raised more money than anticipated in a pair of short-term bond auctions and after a solid round of U.S. corporate earnings reports, stock markets rallied on Tuesday. However, shares of Spanish oil group Repsol tumbled more than 6% in the wake of the Argentine government’s move to nationalize Repsol’s part of YPF without saying anything about compensation. Repsol’s share…

Spanish economy 18th April 2012

Will rubber-stamping bank plans convince the markets? Spain needs growth

MADRID | The Bank of Spain has cleared the plans presented by financial institutions to meet the demanding requirements designed to clean up real estate exposure. As expected, extra needs fall short by 10% to the €50 billion that the government forecast when launching the reform in February. Considerable adjustments undertaken at last year close have eased up the pending effort. Will this encouraging result calm down market concern? There is…

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