The latest news from Spain

 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...

Read More+


 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’....

Read More+


 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...

Read More+


 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...

Read More+


 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...

Read More+


 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...

Read More+


 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.


Read More+


 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...

Read More+


 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...

Read More+


 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...

Read More+


 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...

Read More+


 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.”...

Read More+


 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...

Read More+