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Category: Business (37 articles)

Spain receives credit rating upgrade from S&P


A number of Spain’s best-performing industries, such as winemaking, tourism and the automobile sector, have enjoyed a solid recovery in 2015.

Standard & Poor’s, the world-renowned credit agency, raised Spain’s credit rating to BBB+ at the weekend, which is three levels above junk status and the highest rating the country has enjoyed since the recession.

In May 2014 Spain was upgraded by S&P to BBB, and now – with the country’s outlook rated as ‘stable’ by the agency – the new BBB+ level means Spain is now three levels above non-investment grade…

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Author: 06/10/2015 [0] Comments 

As Catalans vote Yes, Spain to tell them No

Catalans go to the vote

Catalans may point the way towards independence, but Madrid is set to block any binding vote on the matter.

Catalonia’s pro-independence parties got the result they wanted on Sunday’s regional election, winning an absolute majority that they say now gives them a “clear mandate” to press for independence from the rest of Spain.

But despite the bullish positivity eking out of the region, Madrid has held firm, saying that the separatists had “failed” in their mission because they were unable to secure an overall majority of votes, winning 72 of 135 seats to fall just short of 50% of the parliament…

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Author: 29/09/2015 [0] Comments 

Moneycorp exchanges currency for ‘hockey on horseback’

Rough-and-tumble: Polo at Santa Maria Polo Club

Steamy Jilly Cooper novels, the movie Pretty Woman, the fact that Stewart Copeland from music group The Police is an avid player and a vague awareness that Argentinians are quite good at it – that was the embarrassingly basic knowledge I had of the game of polo before I was kindly invited to the famous Santa Maria Polo Club in Sotogrande by the good folks at currency exchange company Moneycorp for the 44th Torneo Internacional de Polo…

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Author: 31/08/2015 [0] Comments 

Spain’s economic growth surpasses UK

Spain's economic recovery is set to continue, with the country on course for an impressive 3.2% growth in GDP this year.

The Spanish economy grew by 0.9 per cent in the second quarter of the year, outstripping Britain’s own recovering fortunes in the process.

The UK – which is enjoying the benefits of a strong pound and falling jobless rates – grew by 0.7 per cent in the second quarter of the year, but was surpassed by the Spanish juggernaut that is on course to grow by around 3.2 per cent this year…

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Author: 06/08/2015 [0] Comments 

Spanish airport sold for €10,000

Ciudad Real airport opened in 2008 but has not handled a single commercial flight.

Spain’s infamous Ciudad Real airport – which became a symbol of the country’s recent boom-bust construction industry – has been sold to a group of international investors for just €10,000 – 100,000 times less than it cost to build.

Located south of Madrid, Ciudad Real airport has stood as a white elephant for the past few years. Having opened in 2008 just as the global financial crisis struck, the €1 billion airport never went into full commercial operation, and has stood largely empty ever since…

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Author: 22/07/2015 [0] Comments 

More foreign investment as Spanish chain store sells 10% stake to Qatari investor

The new investment could see El Corte Inglés embark on an expansion strategy overseas.

Popular Spanish retailer El Corte Inglés has sold a 10% stake in the company to former Qatar Prime Minister Sheikh Hamad Bin Jassim Bin Jaber Al Thani for a sum estimated to be around €1 billion

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Author: 21/07/2015 [0] Comments 

British expats can vote on EU referendum, says Cameron

Will the UK opt for the EU exit door, or choose to remain?

It is a vote that is likely to determine the very future of the United Kingdom, let alone its relationship with Europe – and it is a vote that British citizens who have lived abroad for less than 15 years are allowed to have a say in.

The EU referendum, which was promised to the British public by the new Conservative government, is to be a simple In/Out vote on the question of whether the UK should remain in, or leave, the European Union…

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Author: 01/06/2015 [0] Comments 

Spain’s growing property market begins driving employment

Employment opportunities in Spain's real estate sector are set to rise as the industry grows once more.

As confidence, cash and foreign buyers have all flooded back to the Spanish property sector over the past few months – drawn by stabilising prices, favourable exchange rates and a mature outlook – the industry has also begun to generate more employment opportunities within Spain…

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Author: 10/04/2015 [0] Comments 

Hilton taking another tilt at Costa del Sol hotel market

Benalmadena's stylish Reserva del Higueron hotel will soon become part of the Hilton brand.

The Costa del Sol is set to welcome back the prestigious Hilton hotel brand after a near 40-year absence.

Hilton Worldwide struck a deal this March at the Spanish Embassy in Berlin to bring the brand to the Reserva de Higueron hotel near the resort of Benalmadena, bringing the iconic Hilton sign back to the coast for the first time since Marbella’s famous Don Carlos hotel was a Hilton-branded establishment in the ‘70s…

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Author: 19/03/2015 [1] Comment 

Spain’s Golden Visa scheme attracts 530 applicants

A luxury home AND the right to reside in Spain? The Golden Visa is an attractive scheme for many

Since its launch 15 months ago, Spain’s Golden Visa scheme – introduced to attract wealthy non-EU investors to the country’s property market – has so far registered 530 applicants.

The Visa scheme grants automatic residence and working rights in Spain to individuals who spend more than €500,000 on property in Spain. Such an investment can be spread across a portfolio of properties, and investors can include their family, dependants and unmarried partners in the visa – an added attraction that has evidently appealed to a large handful of Chinese, Russian and Arab investors…

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Author: 11/03/2015 [6] Comments