The latest news from Spain

 Spanish recovery temporary?


Spain was the main talking point over the past few months due to its economic strides which have pushed the country away from recession. During the first quarter of the year, gross domestic product increased 0.9% with the annual growth of 3% expected. However, scepticism is building up regarding how long Spain is capable of keeping up this momentum. According to Stratfort Enterprised, this won’t...

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 Podemos fire election candidates


Podemos, the party which has consistently campaigned on an anti-corruption platform, has shown the door to its candidates in the region of Rioja, following accusations of fraud.

The left-wing party, just over a year after its creating, has been strirring up a storm in SPanish politics, has cancelled its list of candidates in La Rioja.

The national leadership of the party...

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 Working on your Personal Brand


You may think it’s ‘just’ an email or ‘just’ a phone call, but many of the activities we carry out throughout the day will leave an impression, whether it’s positive or negative.

Here’s a list of things that impact the quality of your personal brand:

1) Your e-mail signature
2) Voice messages you leave for someone
3) E-mail messages you send out

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 Inditex profits on the rise


Spanish clothing giant Inditex, owner of the Zara brand, said Wednesday its profits increased 5% last business year.

This increase brought its net profit to 2.5 billion euros, the group confirmed in an earnings statement on its 2013/2014 financial year ending in January.

The statement showed net sales were up 8% to 18.12 billion euros. Inditex is currently the world's largest...

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 Banco Madrid files for bankruptcy


Banco Madrid is set to enter insolvency proceedings, announced administrators on Monday, just days after the bank was taken over by Banco de España.

Banco Madrid will enter insolvency proceedings and suspend all activity, following large deposit withdrawals, the country’s central bank announced on Monday. The announcement was made after the entire board of Banco Madrid handed in their...

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 Sabadell to takeover TSB


TSB has officially confirmed a £1.7bn takeover approach from Spanish bank Sabadell. The approach to the UK bank arrives less than 12 months after it re-joined the stock market after Lloyds Banking Group sold off 50% of the business.

TSB claims its board was willing to recommend Sabadell’s 340p-per-share offer, stating that Sabadell could help and speed up its ‘retail growth strategy’....

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 Spain sells 4.5 bln euro in bonds


Spain sold 4.5 billion euros of its debt at a triple bond sale on Thursday, dropping to record low yields again, just days after the European Central Bank began buying government bonds.

The Treasury his its planned target of between 4 billion and 5 billion euros at the auction.

Spain sold 910 million euros of the shorter-dated bond, due Jan, 31 2020, which was 3.2 times subscribed...

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 Carlos Slim plans on conquering Spain


In recent months Carlos Slim has been taking advantage of troubled Spanish corporations by purchasing stakes at relatively cheap prices, one which took place as recently as March 4th.

The announcement by Inmobiliaria Carso, Slim’s investment company that it will purchase from Bankia a stake of just under 25% for 0.58 Euros per share, 32% lower than its Wednesday closing price. The purchase...

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 Spain and Portugal may become EU energy saviours


The EU made progress on Wednesday in terms of reducing its energy dependence, particularly on Russia, instead attempting to improve connections between renewable energy giants Spain and Portugal as well as the rest of Europe.

At a summit, the leaders of Spain, Portugal and France discussed how to transit to the rest of Europe the extra energy produced south of the Pyrenees mountains separating...

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 Gas Natural cancels wind development in Spain


Spanish utility Gas Natural has terminated its wind construction plans in Spain, despite being the sole company to defy government cuts to renewables subsidies.

Gas Natural announced it would go ahead with the construction for new capacity, in spite of government cuts. The company commissioned its 14MW Montouto project in the northwest - the only new commercial capacity to be built in...

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 Possibility of Spain joining Greece down anti-austerity trail


As Greece continues to duke it out with the EU regarding ending the bailout and its attendant austerity measures, Spain is keeping a close watch on the situation.

Alexis Tsipras's Syriza victory in the Greek elections, on a platform to end cuts in services and benefits as conditions of its bailout from the EU, has emboldened Spain's Podemos party.

Spain has also been laboring...

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 Bank of Spain claims banks' bad loan ratio dropped to 12.5% in December


Bank of Spain's bad debt as a percentage of their total credit decreased to 12.5% in December from 12.7% in November, according to data displayed on Wednesday.

The non-performing loan ratio dropped for the fourth consecutive month. The total number of band loans also fell for every month in 2014, according to Bank of Spain data.

The banks' bad debts started to rise sharply...

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 Spain’s Caixabank to launch takeover bid for Portugal’s BPI


Caixabank said on Tuesday it will launch a full takeover bid for Portugal’s BPI, forking out 1.329 euros per share for the 55.9% of the lender it doesn’t already own.

The total offer amounting to approximately 1.08 billion euros and at 27% premium against the Portuguese bank’s closing price on Monday, is relying on the support of a minimum of 50% of shareholders including its own...

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 BBVA shares rise


Spanish stocks outperformed flat-to-lower European indexes on Wednesday as results from bank BBVA and service sector data confirm recovery expectations for the indebted country.

The bank's shares increased 4.6% after BBVA reported better-than-expected revenues from lending in the 4th quarter and claimed its new objective is to grow further in its domestic market, where losses and loans...

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 3 of Europe's top 10 business schools found in Spain


3 Spanish schools have made it onto FT's European business school rankings. Madrid's IE Business School placed 3rd, Barcelona's ESADE Business School in 4th with the University of Navarre IESE Business School placing 7th

Despite the fact that it dropped from first place to third this year, IE Business School still expressed its satisfaction for featuring in the top 3 once again:


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 Repsol begin search for oil


The Spanish company on Tuesday began inspecting oil in the waters near the Canary Islands.

The Rowan Renaissance is the vessel being used to carry out the first deep water survey, just 50 kilometres away from the islands of Lanzarote and Fuerteventura.

The search for oil will last approximately four months with the estimated chance of finding out being in the region of 17...

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 5 Financial Planning mistakes which you need to avoid!


Most people reach a point in their lives where they’ll start asking themselves important financial questions such as:

-When is the right time to create a financial plan? -How much money should I be saving for retirement? -Can I create a plan without the help of a financial adviser?

These are commonly asked questions, among others, which have corresponding answers.


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 Canaries President threatens to break away from Spain if it drills


The President of the Canary Islands, Paulino Rivero, is threatening to break off diplomatic ties with Spain's central government over the islands' controversial oil and gas drilling plans.

Mr Rivero has voiced his complete disapproval of oil giant Repsol’s plans to drill for oil and gas off the coast of the islands, a venture he believes will put the archipelago’s tourism industry...

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 Spain boosts growth forecasts


Spain's government on Tuesday raised its growth forecasts for this year and next as the country pulls away from economic crisis, and said it hopes this will soon cut into high unemployment.

Economy Minister Luis de Guindos told a committee of members of parliament that it was hoped that economic growth would approach 1.5% this year and 2.0% next year.

Spain's central bank...

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 Spanish jobless rate below 25% for the first time in two years


The unemployment rate in Spain has fallen below 25% for the first time in two years, thanks to the beginning of a revival in the economy.

An extra 402,000 people started work in the second quarter of the year, boosted by the seasonal upturn in tourism. That helped to push the official jobless rate down to 24.5%, from 25.9% in the first three months of the year.

However the...

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 Spanish celebrities support Catalonia staying with Spain


Inspired by Better Together, the campaign against Scottish independence backed by JK Rowling, author of the Harry Potter books, and the former Manchester United manager Sir Alex Ferguson, Libres e Iguales (Free and Equal), featuring a number of prominent Spanish personalities such as Mario Vargas Llosa, the Peruvian-born Nobel prize-winning author, and Albert Boadella, a theatre director are striving...

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 Strong employment and manufacturing figures for Spain in June


The Spanish employment index increased to 53.0 in June, which is the highest level since July 2007. It also confirms that the unemployment rate will continue to decline in Spain.

The nation’s manufacturing PMI was stronger than expected in June and the Spanish figure was the highest among the four biggest euro countries. This followed as the Spanish figure has trended upwards since November...

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 Spain 'rewarded' with tax cuts


Spain revealed plans on Monday for sweeping tax cuts to stimulate the economy and create new jobs.

Deputy Prime Minister Soraya Saenz de Santamaria told a news conference that the reform, after the efforts made by Spanish people confronted by the crisis, aimed not only to recompense for those sacrifices but also “to dynamise growth and job creation.”

The proposed reforms...

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 New protest party backs republican Spain


Spain’s young protest party, Podemos, said it would join the push for a referendum on the monarchy following the abdication of King Juan Carlos.

A coalition of over 50 anti-monarchy groups, the State Republican Board, is planning to stage a protest on Saturday in Madrid and several other cities to press the government for a popular vote.

"Our people will be at the protests...

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 7,000-year-old cave paintings found in Spain


Twelve prehistoric rock paintings depicting hunting scenes from 7,000 years ago have been discovered by archaeologists in eastern Spain.

Town hall representatives in the Valencian municipality of Vilafranca announced the discovery on Tuesday. It is the first discovery of its kind and importance for many years in the region.

Although archaeologists are still searching the area...

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 Spain prepares debut inflation-linked bond


Spain is gearing up to issue its first ever inflation-linked bond, as it continues its strategy to broaden and develop its funding options. The country is seeking to diversify its revenue paths and develop the average maturity of its bond market in the wake of the eurozone crisis.

The imminent sale of an inaugural 10-year inflation-protected bond will be the first of a wider "linker progamme.”...

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 Job creation in Spain to pick up as recovery takes hold


Spain's industry, energy and tourism minister Jose Manuel Soria said he expects the rate of job creation to pick up as the economic recovery takes hold.

Speaking in New York at the Spain Economic Forum, a gathering organised for the second consecutive year by the Spain-US Chamber of Commerce, Mr Soria pointed to the positive steps Spain's economy is taking despite high unemployment and...

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 Spain’s textile industry created 150 new jobs in January


The Spanish textile industry created 150 new jobs during the month of January 2014, according to new employment data from the Spanish Social Security department.

According to the Seguridad Social data, the number of members registered in the Spanish textile industry stood at 129,152 in January 2014, which is the best since January 2011.

Last year, during the month of January...

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 The organisation that managed to create 7,100 jobs for people with disabilities in Spain last year


The Organización Nacional de Ciegos Españoles, known as ONCE was founded 75 years ago with the goal of helping blind people work for a living.

Since then, it has expanded its mandate, and it now helps people living with any type of disability.

Last year, ONCE created 7,100 jobs for disabled people last year even as Spain's jobless rate hit 26%. For its efforts, ONCE won...

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 KKR opening first office in Spain


KKR & Co. is set to open its first office in Spain on Monday, as it seeks build on its billion-euro stake in a country that is attracting a growing volume of investment from abroad. Jesús Olmos, head of the New York-based buyout specialist’s Spanish operations and its Europe, Middle East and Africa infrastructure team said the firm is interested in opportunities such as real estate, infrastructure...

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 DNA traces of blue-eyed caveman analysed in Spain


Scientists have been given an unprecedented glimpse of modern humans before the rise of farming, thanks to the DNA taken from the wisdom tooth of a European hunter-gatherer. According to analysis of his genetic makeup, the Mesolithic man, who lived in Spain around 7,000 years ago, had an unusual mix of blue eyes, black or brown hair, and dark skin. He was probably lactose intolerant and had more...

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