Posts Tagged ‘European Union’

Your Move: Spain Looks to Entice Brexit Leavers

Your Move: Spain Looks to Entice Brexit Leavers

Spain is offering an alternative to disillusioned companies looking to leave the UK in the wake of Brexit and is in good shape to receive them. This could take the form of a charm offensive as Spain extols its own virtues ahead of other countries that are also making their own overtures to British based companies post Brexit. A plan to woo UK-based companies is being promoted by leading UK-based…

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King Felipe VI encourages U.S. investment in Spain

King Felipe VI encourages U.S. investment in Spain

Last month, Felipe VI made his first official state visit to the United Sates as King. The four-day trip included a meeting in Washington with top businessmen organised by ICEX-Invest in Spain and the Economic and Commercial Office of the Spanish Embassy. The Monarch encouraged managing directors and presidents of a dozen North American multinationals with important interests in Spain to have confidence in the country’s economic recovery, innovation potential and investment possibilities.

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Spain Export Push Sparks Trade Deficit Drop

Spain Export Push Sparks Trade Deficit Drop

As Spain’s economic growth continues to outpace that of its three main eurozone partners – Germany, France and Italy – exports are on the rise and producing a welcome shift in the country’s trade balance. In the five months to May, the trade deficit declined 9.3 percent to 9.434 billion euros from a year earlier, according to Economy Ministry data released last month. Aided by the depreciation of the euro and Spanish firms’ increasing competitiveness, exports grew 4.3 percent to 102.916 billion euros, the highest figure since 1971 for the January-May period.

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Spain Commercial Premises Investment Grows

Spain Commercial Premises Investment Grows

Investment in commercial premises in Spain rose to 1.33 billion euros in 2014, an increase of 330 million euros from a year earlier, fuelled by attractive rental yields and the positive economic outlook. Financial services providers like family offices and investment funds were the most active players in the market, according to a May report by property consultants Aguirre Newman. And as Spain’s economic recovery continues, boosting consumer demand, top domestic and international retailers have been jostling for positions in prime areas in capital cities like Madrid and Barcelona.

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Basf to Expand Investment in Tarragona

Basf to Expand Investment in Tarragona

With the Spanish economy continuing to expand at a faster rate than its European neighbours, there was further good news on the foreign investment side for Spain. Basf, the largest chemical producer in the world, has announced that it is planning to invest 21 million euros with the opening of a new line at their agrochemical plant in Tarragona, in the country’s Cataluña region. Currently the plant is the largest…

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Orange Buys Up Jazztel in Spanish Market

Orange Buys Up Jazztel in Spanish Market

As Spain’s economic recovery continues, and both the government and international organisations like the International Monetary Fund (IMF) upgrade their growth forecasts, M&A deals are thriving! The latest protagonist is French telecoms operator Orange which last month won approval from Spanish regulators for its 3.4 billion euros buyout of local broadband and cellphone operator Jazztel PLC. The European Commission gave the deal its green light after Orange agreed to a package of divestments and network-sharing agreements to help launch a new telecoms operator in Spain.

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Spain Economy to Outperform Eurozone Peers

Spain Economy to Outperform Eurozone Peers

Spain’s economy is set to outpace that of its eurozone rivals in the next two years, according to the International Monetary Fund (IMF). As the country’s recovery continues and the outlook for the jobs market improves, albeit slowly, Spanish GDP will grow 2.5 percent this year, up from a January estimate of 2.0 percent, the IMF said in its April World Economic Outlook. For 2016, growth is forecast at 2.0 percent compared with a previous estimate for 1.8 percent.

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Banca March Named Best Spanish Private Bank

Banca March Named Best Spanish Private Bank

For the second year in a row, Banca March has been voted Best Private Bank in Spain by the British publication Global Banking and Finance Review. An undoubted feather in the cap for the Spanish lender, particularly given some of the criteria evaluated by the jury: solvency, bad debts, provisioning levels and the health of the bank’s loan portfolio.

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Banco Sabadell Buys British Bank TSB

Banco Sabadell Buys British Bank TSB

Spain’s banking sector is now in recovery mode after undergoing an in-depth restructuring to streamline the number of lenders, clean up their balance sheets and boost their capital base. And what better proof of the sector’s strength than Catalonia-based Banco Sabadell’s recent takeover of Britain’s Trustee Savings Bank (TSB).

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S&P Upbeat on Spanish Banks

S&P Upbeat on Spanish Banks

Spanish banks are on course to consolidate in 2015 the improvement in earnings seen last year, according to Standard and Poor (S&P). As the country continues its economic recovery, lenders’ bad debts will decline and profitability will improve, the ratings agency said in a report published in February. S&P expects the banks to post recurrent prextax profit of about 14 billion euros in 2015, up 25-30 percent from a year earlier.

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