Economy - Page 3
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Madrid Approves Major Tech District in Valdebebas with 23,800 Jobs Planned
Madrid is set to transform 85 hectares in Valdebebas into a new technology district, with the potential to create nearly 24,000 jobs. The project, still in early planning stages, could reshape the city’s innovation landscape and public spaces.
Spain Sets New Retirement Age Rules for 1962 Generation Starting 2027
From 2027, Spaniards born in 1962 face new retirement thresholds as the 2011 reform takes full effect. The rules will impact eligibility, pension amounts, and the timing of retirement, with notable differences by gender and occupation.
Former DGT Chief Slams Spain’s Road Conditions as 'Unacceptable'
Gregorio Serrano, ex-head of Spain’s DGT, has sharply criticized the state of Spanish roads, calling them 'absolutely lamentable.' He warns that neglecting maintenance is putting drivers at risk and damaging the country’s reputation.
Catalonia Faces Economic Strain from Low-Paid Social Services Sector
A new report highlights how low wages in Catalonia's social services create a cycle of underfunding. The system struggles to cover public costs, raising concerns for the region's economy and future welfare.
Chery's Barcelona Venture Drives Overseas Revenue Surge
Chery Automobile, now producing vehicles in Barcelona with Ebro Motors, saw its overseas revenue surpass domestic sales for the first time. Despite a 9% drop in profit, the company’s international expansion is reshaping its business.
Móstoles Allocates €880,000 for Event Catering Including Sushi and Jamón
Móstoles Desarrollo sets a four-year catering budget ceiling of €880,000 for events. The framework covers sushi, jamón with live carving, and other gourmet stations. The opposition questions the public benefit of this spending.
Spain’s Most Reliable Electric Cars Revealed: OCU Ranks the Top Brands
Electric cars now account for 20% of new registrations in Spain, with reliability matching combustion models. OCU’s latest survey highlights which brands have the fewest breakdowns and how battery life is exceeding expectations.
Morocco Relaxes Visas for Africans While Criticising Spain’s Migrant Policy
Morocco has eased visa rules for several African countries, aiming to boost regional ties. At the same time, Rabat openly challenges Spain’s approach to regularising undocumented migrants. The shift comes amid rising migration pressures at the Ceuta border.
Electric Car Sales Surge in Europe as Incentives Drive Global Growth
Global electric vehicle sales climbed 9% in July, led by a dramatic surge in Europe where government incentives have fueled demand. China and North America, however, show contrasting trends as the market landscape evolves.
Retirees in Spain Can Boost Pensions by 25% When Returning to Work
From August 2026, Spanish pensioners who return to part-time work can receive up to 25% more on top of their previous pension. The new law also opens this option to certain self-employed workers, changing how retirement and employment can be combined.
Madrid Allocates €1 Million to Support Businesses Hit by Wildfires
Madrid’s regional government launches €1 million in aid for small businesses and self-employed workers who lost IT equipment in recent wildfires. Grants of up to €5,000 per business will help restore operations.
Trump Threatens Oman Over Strait of Hormuz Deal with Iran
Tensions rise as Oman pursues a new agreement with Iran on the Strait of Hormuz. The US, led by Trump, threatens military action if Muscat disrupts its strategy. Gulf states watch closely as economic stakes grow.
Madrid Faces Backlash Over Europe’s Largest Wave Pool Project
A 60-million-euro wave pool near the Metropolitano stadium has sparked protests in Madrid. Residents and environmentalists warn of excessive water use and legal uncertainty. The project is set to open in 2027 despite a court ruling.
Catalonia Sees 32% Jump in Inheritance Tax Revenue in Six Months
Catalonia's government collected €692 million from inheritance tax in six months. Property transaction taxes also surged, reflecting a hot real estate market. The trend signals higher fiscal pressure for heirs and buyers.
Gonzalo Bernardos: Early Retirement at 55 Is Not an Option for Most
Economist Gonzalo Bernardos has warned that retiring at 55, 56 or 57 is nearly impossible under Spain’s current pension laws. Only a handful of exceptional cases qualify, while most workers must wait until at least 65 or face significant reductions.
Burgos Seeks to Buy 40 Madrid Buses After Devastating Depot Fire
Burgos plans to purchase 40 buses loaned by Madrid after a fire destroyed half its fleet. City officials say the vehicles are in better shape than many older ones. Buying new buses would be far more expensive.
Seville Farmer Boosts Land Income 19-Fold by Leasing to Solar Project
José Portillo, a farmer from Carmona, saw his earnings per hectare jump from €100 to €1,900 after leasing his land for a solar installation. His story highlights the financial impact of renewable energy projects on traditional agriculture in Andalusia.
Chinese Battery Makers Tighten Grip on Global EV Market
Chinese manufacturers now supply over 70% of the world’s batteries for electric and plug-in hybrid vehicles. CATL and BYD lead the surge, reshaping the industry and challenging global competitors with rapid growth and expanding influence.
Disney's Production in Alicante Brings €40 Million Boost to Valencia
Disney's live-action 'Enredados' is driving a surge in economic activity in the Valencian Community. The Generalitat estimates a direct impact of over €40 million. Alicante's Ciudad de la Luz is at the center of this international production.
Pilar García Warns Pension System Faces Strain as Lifespans Rise
Pilar García de la Granja highlights a growing gap in Spain’s pension system, noting that benefits now cover nearly three decades of retirement instead of the original ten. Rising life expectancy and new flexible retirement rules are reshaping the debate.
US Maintains Economic Pressure on Cuba, Rules Out Quick Regime Change
The US is intensifying economic sanctions on Cuba, aiming for gradual change by 2029. Officials reject immediate intervention, leaving Cubans facing worsening shortages and uncertainty.
Vigo Mayor Abel Caballero Promises Bigger Stage for Bad Bunny
Vigo's mayor, Abel Caballero, claims the city could offer Bad Bunny a better stage than anywhere else. He also dismisses Felipe González's political influence and insists Pedro Sánchez's leadership is far from over.
Toyota Tightens Its Grip on Spain’s Hybrid and Electric Taxi Market
Toyota now accounts for nearly two-thirds of new taxis in Spain, driven by demand for self-charging hybrids and a growing share of electric models. The shift comes as overall taxi registrations decline and city rules push for cleaner fleets.
Bizum Pay Hits 1.6 Million Terminals but Lags in Spanish Stores
Bizum Pay is now compatible with over 1.6 million payment terminals in Spain. Yet, most physical stores have not activated the service. Shoppers face delays as retailers hesitate to implement the new system.
Spanish Farmer with 290 Hectares Warns: 'We Risk More to Earn Less'
After three decades managing his family's 290-hectare farm in Bobadilla del Campo, Luis Velasco Alonso says rising costs and stagnant crop prices are pushing profitability to the brink. He urges less red tape, stronger support for Spanish produce, and collective action among farmers.
How Rocío Turns €950 Rentals Into €1,600 Room-by-Room Income
Rocío Baselga manages dozens of rooms in Bilbao, transforming standard rentals into profitable shared flats. She invests around €3,000 per property and aims to recover it within seven months, but the model depends on careful contracts and constant management.
Aena Rejects Second Madrid Airport, Focuses on Barajas Expansion
Aena has ruled out converting Casarrubios del Monte into Madrid’s second commercial airport, citing airspace and operational issues. Instead, the airport operator will invest over €4 billion to expand Barajas, aiming for a capacity of 90 million passengers a year.
Barcelona’s Metropolitan Area Grows More Diverse but Inequality Deepens
Barcelona’s metropolitan region is seeing rising prosperity and diversity, but territorial and social inequalities remain entrenched. New data reveal widening gaps in income, housing, and child poverty across the area.
Trump Plans to Declare Strait of Hormuz as US Territory After Iran Conflict
Donald Trump announced plans to claim the Strait of Hormuz for the US after military action against Iran. The move comes amid rising oil prices and a strict blockade on Iranian ports.
Domestic Tourism in Catalonia Drops to Post-Pandemic Levels
Catalonia faces a sharp fall in domestic tourism, returning to figures seen after the pandemic. Meanwhile, international arrivals, especially in Barcelona, are rising fast. The shift is reshaping the region’s tourism economy.
Salvador Caetano Doubles Profit in Spain After Major Restructuring
Salvador Caetano’s Spanish division has posted a 130% profit jump for 2025, fueled by a sweeping corporate reorganization and key dealership acquisitions. The group’s focus on new car sales and market consolidation is reshaping its position in Spain.
Spain Faces €13.5 Billion Road Repair Bill as Fast Polish Patching Machine Draws Attention
A Polish-made machine can repair potholes in minutes, offering a quick fix for surface damage. However, Spain’s road network needs €13.5 billion for full restoration, as rapid patching cannot address underlying structural issues. Authorities weigh new technology against the scale of the problem.
Valencia Drug Network Laundered Millions Through Real Estate and Crypto
A major criminal group in Valencia used luxury property, fake divorces and cryptocurrency to launder drug profits. Police linked 11 suspects to seven companies after seizing 4.5 tonnes of cocaine.
Toyota Faces Profit Drop in Spain Despite Record Sales
Toyota España posted record sales and revenue in its latest fiscal year, but a sharp rise in taxes led to an 8.4% drop in profit. The company remains committed to hybrid and electric models as it navigates a changing market.
Colombia Declares Economic Emergency After Devastating Earthquake
Colombia’s president has declared an economic emergency after a 7.4-magnitude earthquake. The move allows rapid financial and legal measures. Over 25,000 families are affected, with hundreds dead or missing.
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