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In the first half of 2022, eleven Spanish banks lost money.

According to individual statistics from the Bank of Spain, there were Eleven banks that lost money between January and June 2022 in Spain, which is 2 fewer than during the same time period last year. The Bank of Spain announced that eleven banks lost money in the first half of 2022; seven of these institutions—JPMorgan Chase Bank, Banco Europeo de Finanzas, Targobank, WiZink, Evo Banco, Credit Suisse...


Qatar will increase its investment in Spain by $4.9 billion

QATAR has agreed to contribute 4.7 billion euros ($4.9 billion) in Spain as part of the European Union's pandemic recovery funding. BARCELONA - Qatar promised to invest 4.7 billion euros ($4.9 billion) in Spain, as the European country begins an economic reform with its share of European Union pandemic recovery cash. The investments' specifics have not been disclosed, but the Spanish government has...

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Mercadona Contributes €1.5 Million to Assist Ukraine Refugees in Spain and Portugal

MERCADONA, Spain's largest grocery chain, has announced a €1.5 million donation to Ukraine refugees in Spain and Portugal to assist them in their hour of need. The corporation stated that it wanted to express its sympathy and support for Ukrainians affected by the conflict. It claims it will do it in the only manner it knows how: by assisting with the expense of necessities. Refugees who arrive in...

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Tourist expenditure in Spain by Britons, Germans, and the French exceeds pre-pandemic levels

IN March, the majority of visitors to Spain were British, followed by Germans and French. In March alone, before the Easter vacation and long before the summer season begins, 4 million visitors visited Spain. This figure is just 29% fewer than the same period in 2019 before the epidemic started. Despite the reduced numbers, they spent more than they did two years ago: each international visitor spent...

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Spain lowers its growth prediction for 2022 due to the conflict in Ukraine

SPAIN cut its economic growth prediction for 2022 on Friday, owing mostly to the effects of Russia's invasion of Ukraine, which has fueled inflation and harmed consumer demand. According to the economics ministry, the eurozone's fourth-largest economy's GDP is now likely to grow by 4.3 percent rather than the 7.0 percent earlier forecast. "The attack against Ukraine has significant economic and...

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BBVA raises its forecast for its business in Spain and Mexico for 2022

BBVA's CEO, Onur Genç, stated at the presentation of the first-quarter results that the bank has an improved outlook for Spain and Mexico in 2022 "due to better-than-expected business fundamentals." He stated that business dynamics are "very good" across all geographies. According to Onur Genç, BBVA in Spain enjoyed "great revenue performance and a considerable improvement in cost-to-income and...

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Queues in gas stations across Spain for fuel discount

AROUND the new fuel discount, there has been chaos, payment problems, and huge lines in filling stations all over Spain. As a result of the high volume of consumers, thousands of service stations throughout Spain reported computer problems. Service stations are closed, systems are down, and there are enormous lines... On Friday, April 1st, the first-day filling stations applied the 20 cents per...

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Inflation in Spain rose 9.8% in March, the highest level since 1985

ACCORDING to Spanish authorities, inflation rose to 9.8% in March, the highest level since 1973. Over the past year, consumer price inflation has surged worldwide, causing Spain's inflation rate to hit a 37-year high in March. Compared with February, the nation's national statistics office reported the highest inflation rate since May 1985; the provisional figure has increased from 7.6%. The...

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Regional governments in Spain agree to slash energy taxes

ON Sunday, March 13, the government and the autonomous regions convened to express their unanimity favouring Pedro Sánchez's position on energy tax reductions before the European Union. "We are proceeding to support give a hand to individuals affected by the surge in energy prices," the Xunta's Head remarked as he reviewed the situation in Ukraine. Isabel Rodrguez, a spokesperson, stated, "Today,...

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I’m invested in Euro denominated funds – so what?

If you have investments in Euro denominated funds, the chances are you are not seeing the heady performance compared to funds invested in Sterling over the last few years. The degree of out performance of Sterling over funds invested in Euros can be quite staggering. The problem seems to be that when looking into Euro funds to invest, it is our experience that there just is not the same choice of good...

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