News about Economy & Business

26/07/2022. The Minister of Finance and Civil Service, María Jesús Montero, during the press conference after the Council of Ministers. Photo: La Moncloa.

TAXATION

Spain to impose a temporary tax on the rich in 2023

The Nomad Today 9/26/22

ECONOMY

Spanish exports grew 24.2% so far in 2022 but trade deficit remains

The Nomad Today 9/25/22

Imports saw a new record high, rising by 40.2% to 261.485 billion euros

20/09/2022. (L-R) The Third Vice President of the Government and Minister for the Ecological Transition and the Demographic Challenge, Teresa Ribera, the Minister for Territorial Policy and Government Spokesperson, Isabel Rodríguez, and the Minister for Health, Carolina Darias, during the press conference after the Council of Ministers. Photo: La Moncloa.

ENERGY CRISIS

Spanish government lowers VAT on gas to 5% from October

The Nomad Today 9/23/22

Madrid stated that depending on how events evolve, the tax reductions could be extended into next year

30/08/2022. Spanish prime minister Pedro Sanchez with the German federal chancellor Olaf Scholz during a recent meeting in Germany. Photo: La Moncloa/Flickr.

ENERGY CRISIS

Spain to lower VAT on gas from the current 21% to 5%

The Nomad Today 9/1/22

This reduction of VAT on gas is one of the measures recently proposed by the leader of the People's Party (PP), Alberto Núñez Feijóo, which was vehemently rejected only the day before by the PSOE…

06/27/2022. The First Vice President and Minister of Economic Affairs and Digital Transformation, Nadia Calviño in the press room at the end of the meeting of the Council of Ministers. Photo: La Moncloa.

INFLATION

Consumer prices mark the biggest rise in 37 years in Spain

The Nomad Today 7/1/22

The increase is higher than expected by economists

ENERGY CRISIS

Spanish producer prices increase sharply in May

The Nomad Today 6/28/22

Producer prices advanced 43.6% on a yearly basis in May, after climbing 44.5% in April

Woman-engineer-production-plant-worker by Pexels

GDP

Spain GDP expands less than estimated in Q1

The Nomad Today/dpa 6/27/22

Year-on-year, economic growth accelerated to 6.3% from 5.5% in the fourth quarter

BUSINESS

Netflix lays off 300 workers amid subscriber losses

The Nomad Today/dpa 6/24/22

In addition to layoffs, Netflix has promised to gain more subscribers by offering a cheaper version with commercials and experimenting with ways to make more money from password sharing

A woman shopping for groceries. Photo: Pexels.

CONSUMER SENTIMENT

Spain consumer confidence improves further

The Nomad Today 6/14/22

The current situation index strengthened, as all three sub components contributed positively to the sentiment

A fresh food market in Palma. Photo: Pixabay.

CONSUMER PRICES

Inflation in Spain rises as estimated as food prices soar 11%

The Nomad Today/dpa 6/11/22

Transport prices surged 14.9% from the last year and housing cost advanced 17.5%

08 June 2022, Spain, Madrid: Spanish Minister for the Ecological Transition and the Demographic Challenge Teresa Ribera, gives a statement to the media. Photo: Alejandro Martínez Vélez/EUROPA PRESS/dpa.

ENERGY

Spain and Portugal get EU OK to subsidize electricity production

The Nomad Today 6/9/22

Sanchez has previously announced €16 billion in state aid and loans to help businesses and households weather the sharp rise in energy costs due to the war in Ukraine

HANDOUT - 08 June 2022, France, Strasbourg: European lawmakers take part in a voting session during a plenary session at the European Parliament. Photo: Mathieu Cugnot/EU Parliament/dpa - ATTENTION: editorial use only and only if the credit mentioned above is referenced in full.

SALARIES

Minimum wages across EU to be reviewed with draft common standard

The Nomad Today/dpa 6/8/22

The deal begins a procedure where EU member states are to appraise if their minimum wages are adequate to ensure a "decent standard of living," according to the European Parliament

Engineer-factory-production-plant-manufacture by pexels

ECONOMY

Spanish industrial production grows at a faster rate than expected

The Nomad Today 6/7/22

Production of consumer goods increased 6.2% annually; output of consumer durable goods increased 7.8% and that of non-durables grew 5.2%

TECHNOLOGY

Amazon announces closure of its Kindle bookstore in China

The Nomad Today/dpa 6/3/22

Amazon isn't the only American company to have scaled back its operations in China, with other tech giants having limited services or exited from the country entirely due to increased competition and…

ECONOMY

Eurozone manufacturing growth for May comes in at 18-month low

The Nomad Today/dpa 6/2/22

Spain and Germany registered stronger improvements in May

30 May 2022, Belgium, Brussels: European Commission President Ursula Von der Leyen speaks to media upon his arrival to attend a special meeting of the European Council at the European Union headquarters. Photo: Nicolas Maeterlinck/BELGA/dpa.

BUSINESS

Eurozone economic confidence rises slightly in May

The Nomad Today/dpa 5/31/22

Amongst the largest EU economies, the ESI rose markedly in Spain and, to a lesser extent, in France and Italy

Shopping cart in a supermarket. Photo: Pixabay.

BUSINESS

Spanish retail sales recover unexpectedly in April

The Nomad Today 5/27/22

Month-on-month, retail sales grew 5.3% in April, in contrast to the 4.3% decrease in March

FILED - 17 May 2021, United Kingdom, Gatwick: Passengers prepare to board an easyJet flight to Faro, Portugal, at Gatwick Airport in West Sussex. Budget airline EasyJet announced higher revenues and a narrower loss for the first half of the year on Thursday, despite fuel price concerns, as the travel industry continues its recovery from the pandemic. Photo: Gareth Fuller/PA Wire/dpa.

AIRLINES

Software failure grounds 200 easyJet flights

The Nomad Today/dpa 5/27/22

The disruption has left holidaymakers stranded abroad and complaining about the lack of notice they were given

24/05/2022. Spain's First Vice-president and Minister for Economic Affairs Nadia Calvino. Photo: La Moncloa.

TECHNOLOGY

Spain aims to become hub for microelectronics and semiconductors

The Nomad Today 5/27/22

Nadia Calviño stressed that the shortage of semiconductor production in Europe means a reliance on Taiwan, the United States, South Korea, Japan and China, which is a situation that must be reversed