exports gorgeous

Spanish exports fall 4.8% in last twelve months

Luis Alcaide | There were already warning signs, but the fear has been confirmed in the latest data on Spain’s export trade available for the month of May. In May, the value of exports recorded an increase of 2.3%, which fails to offset the decline of the first months of the year. Thus, in the last twelve months, the value of Spanish exports has fallen by 4.8% over the previous…

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Crédito y CauciónCrédito y Caución
bce lagarde a bril 2024 1

ECB keeps all three policy rates on hold at neutral July meeting

Peter Goves (MFS Investment Management) | As widely expected, the ECB kept all three of its policy rates on hold at the neutral July meeting. The deposit rate therefore remains at 3.75% following the cut at the June meeting. The central bank still considers prevailing rates are contributing to lowering inflation and that monetary policy is keeping financing conditions restrictive. Future decisions will still ensure that the policy rates remain “sufficiently…

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Xi Jinping

Third Plenum points to more muddling through but with more mud than ever

Alicia García Herrero (Natixis) | China’s long-awaited Third Plenum is finally over. Four days of high-level meetings (from July 15 to 18) among Party leaders ended with a perplexingly vague read-out of the meeting. The press conference on July 19 has not managed to assuage China watchers’ general impression of an uneventful gathering even if 300 reforms have been counted from official media but, reportedly, most of which already underway….

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“Mercosur is perhaps an idea that people have fallen in love with and are keeping because everyone is too embarrassed to liquidate it”

Fernando Gónzález Urbaneja interviews José Juan Ruiz, president of the Real Instituto Elcano and director of Redeia, in Consejeros, who states that “The intellectual prestige of pessimism is one of the characteristic features of Western civilisation. But, to give an example: in terms of CO2 emissions, everything may be in chaos, people’s perception may be that we have done nothing, but the European reduction in emissions is 32% compared to…

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“Spain has a good energy plan but if things don’t change, it won’t be fulfilled”

José Bogas, ENDESAS’s CEO, explains in Consejeros magazine that “295,000 million of investment is needed for the period 2021-30, and we have many years ahead of us when when we are not investing at this pace. Of these 295,000 million, 118,000 million are for renewables; 85,000 for energy efficiency, but almost nothing has been done so far; 53,000 for networks, which is more than 5,000 every year and we have…

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