News about Economy & Business

04/04/2022. Prime Minister Pedro Sanchez, during the inauguration of the 'Wake up, Spain!' forum in Madrid. Photo: La Moncloa.

ECONOMY

Spain to invest €11 billion to become European semiconductor hub

The Nomad Today 4/5/22

The financial resources are to come from Next Generation EU , a package of economic measures created by Brussels to support member states' recovery from the pandemic

24 March 2022, Spain, Lugo: Transport workers take part in a demonstration calling for the resignation of the Spanish Minister of Transport on the 11th day of the national strike of transporters. Photo: Carlos Castro/EUROPA PRESS/dpa.

INDUSTRY

The growth of the Spanish manufacturing slows down

The Nomad Today 4/4/22

The war in Ukraine served to exacerbate already embedded supply chain and inflationary pressures

25/03/2022. Prime Minister Pedro Sanchez, offered a joint press conference with the Prime Minister of Portugal, Antonio Costa, at the end of the European Council. Photo: La Moncloa.

ENERGY CRISIS

Spain and Portugal want to cap the price of gas at 30 euros per MWh

The Nomad Today 4/1/22

Limiting the price of gas would have an immediate reducing effect on electricity prices, since both are linked in the European energy market

ECONOMY

Spanish government allows product rationing to prevent shortages

The Nomad Today 3/30/22

The government decree emphasizes that rationing will only be allowed in the event of "extraordinary circumstances"

23/03/2022. Prime Minister Pedro Sanchez and the Minister of Economic Affairs Nadia Calvino, in the lower house of Parliament (Congress of Deputies). Photo: Photo: Eva Ercolanese/PSOE.

CONSUMER PRICES

Inflation in Spain close to 10% after Russian invasion of Ukraine

The Nomad Today 3/30/22

Prime Minister Pedro Sanchez said in the lower house of Parliament that 73% of this development is due to the war

Shopping cart in a supermarket. Photo: Pixabay.

ECONOMY

Spanish retail sales report rebound for February

The Nomad Today/dpa 3/29/22

Employment in the retail trade sector increased 2.6% year-on-year

Finance Minister María Jesús Montero, at a press conference after a extraordinary meeting of the Council of Ministers. Photo: La Moncloa.

INFLATION

Discount of 20 cents per liter of fuel in force in Spain from 1 April

The Nomad Today 3/29/22

The package of measures agreed by the coalition government includes other benefits, such as the cap imposed on rent increases and a temporary increase in the amount of the Spanish Minimum Vital…

23 March 2022, Spain, Barcelona: People hold a banner and flags during a rally under the slogan 'Let's curb prices, let's avoid poverty' against high electricity prices, at Plaza Urquinaona. Photo: Ricardo Rubio/EUROPA PRESS/dpa.

ECONOMY

Spanish fourth quarter GDP grew more than anticipated, data shows

The Nomad Today 3/25/22

On a yearly basis, GDP growth improved to 5.5%, from 3.5% in the previous quarter

Woman vineyard agriculture. Photo: Pixabay.

STATE SUBSIDIES

Spanish government allocates €400,000 to grants for rural women

The Nomad Today 3/24/22

The call places special emphasis on agricultural and complementary activities

Artificial intelligence. Photo: Pixabay.

DIGITAL TRANSFORMATION

Spanish government promotes Artificial Intelligence university chairs

The Nomad Today 3/23/22

The National Artificial Intelligence Strategy will mobilize a public investment of 600 million euros

FILED - 08 June 2021, Saxony, Dresden: A finished VW ID.3 is transported into a car tower during a press tour of Volkswagen's Transparent Factory. At the site in Dresden, 35 fully electric vehicles are produced every day. Europe's biggest carmaker Volkswagen posted a sharp rise in global sales on Friday as the world's auto industry rebounded from a crisis unleashed by the pandemic. Photo: Sebastian Kahnert/dpa-Zentralbild/ZB

IN VALENCIA

Next Volkswagen battery plant to be built in Spain

The Nomad Today 3/23/22

Madrid wants to drive billions of euros in public and private investment into the electromobility sector in the coming years, aiming to make Spain a hub for the technology

21 February 2020, Hamburg: Swedish climate activist Greta Thunberg speaks during a Fridays for Future protest calling for a better climate policy. A crunch deal announced on Tuesday by European Union leaders fails to highlight the need for stronger action on climate, young climate activists including Greta Thunberg of Sweden and Germany's Luisa Neubauer have said. Photo: Christian Charisius/dpa

BUSINESS

Sweden gives green light to controversial iron ore mine in north

The Nomad Today/dpa 3/22/22

Climate activist Greta Thunberg describes the decision of the Swedish government as "short-sighted, racist, colonial and anti-nature"

18/03/2022. Spanish Prime Minister Pedro Sánchez, during his meeting with the Prime Minister of Italy, Mario Draghi, the Prime Minister of Portugal, António Costa, and the Prime Minister of Greece, Kyriakos Mitsotakis. Photo: La Moncloa.

ENERGY CRISIS

Spain backtracks limiting price of electricity to 180 euros per MWh

The Nomad Today 3/22/22

Prime Minister Pedro Sanchez has been on a tour of several European capitals to try to gather support for his bid to decouple the price of electricity from that of gas

ILLUSTRATION - Facebook is giving itself a new name - Meta, as part of its efforts to develop a VR-focused platform it's calling the Metaverse. Photo: Fabian Sommer/dpa.

SOCIAL MEDIA

Facebook and Instagram banned in Russia as 'extremist'

The Nomad Today/dpa 3/21/22

The two services are already blocked in Russia

21 March 2022, Spain, Madrid: truck drivers protest with their vehicles at the Industrial Park Logistic. The transport sector entered its 8th day of an indefinite strike, called nationwide by the Platform for the Defence of the National and International Road Freight Transport Sector, to protest the unacceptable working conditions and fuel price surge. Photo: Carlos Luján/EUROPA PRESS/dpa.

BUSINESS

Spanish truck driver protests halt production at Volkswagen plant

The Nomad Today 3/21/22

The Polo, T-Cross and Taigo vehicle models are produced at the plant in the province of Navarra

FILED - 15 November 2021, Hessen, Frankfurt_Main: Deutsche Bank CEO Christian Sewing, speaks at the opening conference of the "Euro Finance Week" at the Kap Europa Congress Center. Sewing has warned against imposing new sanctions against Russia too soon. Photo: Arne Dedert/dpa.

WAR IN UKRAINE

Deutsche Bank boss cautions against further sanctions on Russia

The Nomad Today/dpa 3/19/22

Christian Sewing said that the German government must admit that the measures "have a negative effect on us"

Cars driving on a highway in Madrid. Photo: Pixabay/File Photo.

TAXATION

Tax on motor vehicles in Spain: when and how much to pay

The Nomad Today 3/17/22

Municipalities normally send a letter by mail to the owners of the vehicles informing them of the amount to be paid and the dates to make the voluntary payment

16/03/2022. The third vice president and minister for the Ecological Transition and the Demographic Challenge, Teresa Ribera, at the lower house of Parliament (Congress of Deputies). Photo: Eva Ercolanese/PSOE.

ENERGY CRISIS

Spain aims to cap the price of electricity in the EU at € 180/MWh

The Nomad Today 3/17/22

The maximum price of 180 euros/MWh existed in the Spanish and Portuguese regulation until 2019, when an EU directive banned the limits to the offers of electricity companies in the wholesale market