Economy - Page 9
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Social Security to Raise MEI in 2027, Cutting Up to €104 from Top Salaries
From January 2027, Spain’s Social Security will increase the Intergenerational Equity Mechanism (MEI) to 1%, raising payroll deductions for both employees and companies. The change means workers on the highest bases could see up to €104 withheld annually, with further increases planned through 2029.
Government Doubles Diesel Subsidy as Fuel Prices Surge in Spain
Spain will increase its diesel fuel subsidy to 20 cents per litre from September 1, 2026, in response to a sharp price spike. Gasoline aid, meanwhile, will drop to 5 cents as the government adjusts support to inflation trends.
Euribor Surge Drives Shift to Mixed-Rate Mortgages and Longer Terms in Spain
Spanish mortgage rates have climbed above 3% as the Euribor rises. Buyers are turning to mixed-rate loans and extending repayment to 25 years. Monthly payments remain high, but total interest costs are soaring.
San Martín de Valdeiglesias Faces Backlash Over Fireworks Amid Wildfire Fears
San Martín de Valdeiglesias will hold a fireworks show during its patronal festivities, despite recent wildfires and criticism over fire risks. The decision has sparked debate among residents and local politicians.
Tax Agency Tightens Oversight on Cash Deposits With €500 Notes
Spain’s Tax Agency will now monitor all cash deposits involving €500 notes. Banks must report any suspicious activity, regardless of the amount. The move targets tax evasion and unreported income.
Trump Shares AI Video Claiming Destruction of Iran’s Oil Hub
Donald Trump published an AI-generated video showing explosions at Iran’s main oil export center. Iranian officials deny any attack, calling the footage fake. The incident triggered a sharp rise in oil prices.
Spain Delays Ban on Unapproved Credit Card Limit Increases
Spanish banks can still raise credit card limits without explicit customer consent, as the government’s proposed law remains in draft form. The EU’s November 2026 deadline looms, but for now, unilateral credit increases are not yet prohibited.
Ceuta’s President Demands State Action as Migrant Crisis Escalates
Ceuta’s leader accuses Madrid of failing to respond to a mass influx from Morocco. He urges the state to take over care for unaccompanied minors. The city’s finances and social stability are under strain.
SEPE to Allow Unemployed to Earn up to €450 Monthly While Working Part-Time
From 2026, Spain’s SEPE will let eligible unemployed people receive up to €450 per month in benefits while working part-time, for up to 180 days. The measure targets those with long-term contributory benefits and aims to ease the transition back into the workforce.
Government Approves €165 Million Emergency Plan for Ceuta Amid Crisis
Spain’s government will allocate €165 million to Ceuta to address the ongoing migration crisis. The funds target local economic recovery and reinforce essential public services. The move comes as political pressure mounts.
Hyundai Bets Big on US Expansion, Robotics and Robotaxis for 2030
Hyundai is aiming for a profitability rate above 9% by 2030, driven by major investments in the US, a surge in robotics and robotaxi development, and a sweeping renewal of its model lineup. The plan includes over 100 new or updated vehicles and a sharp focus on electrification.
Spanish Truck Driver Reveals Real Pay and Life on the Road
Laur, a Madrid-based truck driver, opens up about his monthly earnings and the realities of the transport sector in Spain. He explains how pay, work-life balance, and costs vary by region and type of route.
Mercadona Launches 'Tienda 9' Supermarkets in Madrid and Bilbao
Mercadona has opened its first 'Tienda 9' supermarkets in Madrid and Bilbao. The company invested €11 million in these locations. The new model promises greater efficiency and a focus on fresh products.
Iberdrola Bets on Profitability for EV Charging by 2030
Iberdrola, Spain’s leading electric vehicle charging operator, expects its charging division to turn profitable before 2030. Heavy investment and slow market growth have delayed returns, but usage is rising and the company is holding prices steady.
Mercadona Holds Off on 10-Cent Deposit Scheme in Spain
Mercadona has confirmed it will not introduce the 10-cent deposit for beverage containers in Spain until further notice. Despite new EU rules, the supermarket giant says no official start date or system details have been set for Spanish stores.
French Farmer Gives Away 500 Tons of Potatoes, Some Resold for Profit
In July 2025, a French farmer in Gigny-Bussy opened his fields to the public, offering 500 tons of unsold potatoes for free. The gesture drew crowds—and led to some visitors reselling 20-kilo sacks for 15 euros, highlighting the challenges of agricultural surplus.
SEPE Launches Unemployment Subsidy for Workers With Less Than a Year of Contributions
Spain’s SEPE introduces a subsidy for unemployed workers with 90–360 days of contributions. The aid can reach €570 per month and last up to 21 months. Eligibility depends on family status and previous contributions.
Earning €7,000 a Month as a Taxi Driver in Spain Means 14-Hour Days
Some taxi drivers in the Balearic Islands report monthly revenues of up to €7,000 during peak tourist season, but these figures come at the cost of 12 to 14-hour workdays and significant expenses. The real income is far less after fuel, taxes, and license costs are deducted.
Abandoned Mirapolis Park Near Paris May Become Dragon Ball Theme Park
Talks are underway to transform the long-abandoned Mirapolis park outside Paris into a Dragon Ball-themed attraction. No deal has been signed, but the project could bring new life to the site that once aimed to rival Disneyland. Key questions remain about investment, local impact, and the fate of current residents.
XPeng Faces Steep Losses as Sales Drop and Costs Surge
XPeng has reported a dramatic increase in losses for the first half of 2026, driven by falling sales, reduced government subsidies, and rising R&D and financial expenses. The company is now relying more on exports as domestic competition intensifies.
Average Social Security Pension in Spain Rises to €1,373 in August
Spain’s average Social Security pension reached €1,373.44 in August, up 4.6% year-on-year. Over 10.5 million pensions were paid, with delayed retirements and gender gap supplements on the rise.
Volkswagen Faces Potential Loss of 115,000 Jobs and Four German Plant Closures
Volkswagen’s works council has raised alarms over the possible elimination of up to 115,000 jobs by 2031, with four major German factories at risk of closure. The company’s leadership and unions are now under pressure to find solutions that could safeguard thousands of positions.
Airbus Backs Down on Office Return After Staff Strike Escalates
Airbus has suspended its plan to require four office days per week after protests at its Getafe site. The dispute reveals how remote work has become a core employment condition, not just a logistical issue.
What Salary Do You Really Need to Buy a Home in Spain?
Buying a home in Spain now demands sharply different incomes depending on where you live. In Madrid, Barcelona, and San Sebastián, the required net salary is more than double the national average, while smaller cities remain far more accessible. A new study reveals the numbers behind Spain’s housing divide.
Barcelona to Invest €52 Million in La Escocesa Transformation
Barcelona will overhaul the former La Escocesa industrial site in Poblenou. The city and private partners will invest €52 million to create housing, cultural spaces, and social initiatives. Completion is planned for 2029.
Madrid Takes Direct Control of Ceuta Crisis With Single Command
Spain’s government has established a single command to manage Ceuta’s migration crisis. Ángel Víctor Torres will lead the response. An economic recovery plan is also in preparation.
Jaecoo 8 Challenges BMW X5 With Space, Power and Price
The Jaecoo 8, a large plug-in hybrid SUV from China, enters the Spanish market with up to 428 hp, seven seats, and a price tag under €45,000—offering more space and electric range than the BMW X5 at a fraction of the cost.
Six Bids Compete for €376 Million Catalan Telecom Contract
The Generalitat of Catalonia has received six bids for a €376 million telecom contract. Proposals include major operators and alliances. The process unfolds amid ongoing legal disputes and sector scrutiny.
Tourism Debate Intensifies as Calls Grow for Stricter Regulation
The discussion over mass tourism in Spain is shifting. Tourists themselves are demanding clearer rules and fairer practices. The focus is now on regulation, not just personal choices.
Leapmotor to Launch Production in Zaragoza After Record Profits
Leapmotor, backed by Stellantis, has posted a dramatic surge in profits and is set to begin manufacturing in Zaragoza. The move marks a major step in the company's global strategy as it navigates new trade barriers and rising costs.
Flexible Retirement Rules Change: More Options for Pensioners in Spain
Spain has overhauled its flexible retirement system. Pensioners can now work part-time or as self-employed while receiving a portion of their pension. The new rules expand eligibility and introduce financial incentives.
Government Shifts Strategy: Single Command to Tackle Ceuta Migrant Crisis
Spain’s government has created a single command for Ceuta’s migration crisis. Ángel Víctor Torres will lead, with new funds and national security support. The move follows weeks of criticism and mounting local pressure.
SEPE Opens Access to €570 Unemployment Subsidy with Just 90 Days Worked
Workers in Spain who lose their jobs with as little as 90 days of contributions can now apply for a €570 monthly subsidy. The measure targets those without enough work history for standard unemployment benefits, but strict income and family criteria still apply.
Geely Raises Export Ambitions After Acquiring 34% of Ford España
Geely has sharply increased its export targets for 2026, aiming to ship 920,000 vehicles outside China. The move follows a major stake in Ford España and reflects shifting strategies as domestic demand weakens.
SEPE Tightens Penalties: Subsidy for Over-52s at Risk for Rule Breaches
Spain’s SEPE is enforcing stricter penalties for those receiving the over-52 unemployment subsidy. Repeated minor breaches can escalate to full loss of benefits, while fraud or undeclared income may trigger immediate termination. Here’s what beneficiaries need to know.
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