Economy - Page 9
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BYD considers Spain for next European electric vehicle plant
BYD is close to choosing Spain as a finalist for its next European factory, a move that could significantly boost the country’s role in electric vehicle manufacturing. The decision is still pending, but competition among Chinese brands for Spanish production is intensifying.
Spanish farmers to stage nationwide protests as diesel prices soar
Spain’s main farming unions are mobilising for mass protests after agricultural diesel prices surged 48% in a year. With state subsidies about to expire and no alternatives offered, producers warn their livelihoods and the country’s food supply are at risk.
Volkswagen aims for one million vehicles with electric drive in Iberia
Volkswagen is betting on compact electric cars to reach a million vehicles produced in Spain and Portugal by 2027. The launch of the ID.Cross in Navarra marks a turning point, with new models and expanded factories reshaping the region’s automotive landscape.
Volkswagen sets new production record in Spain with electric and hybrid cars
Volkswagen has begun production of the ID Cross in Navarra, completing the electrification of its Spanish factories. The group now aims for over one million vehicles annually across its Iberian plants, strengthening jobs and future investment.
Spain’s Car Fleet Ages as Economic Pressures Mount
The average car in Spain is now nearly fifteen years old, exposing the country’s growing economic challenges. As new cars slip out of reach for most, Spanish roads fill with aging models and low-cost imports, revealing the gap between image and reality.
Ibex 35 under pressure as contract expiries and currency swings collide
The Ibex 35 heads into a volatile session, with contract expiries, currency shifts, and oil prices all weighing on Spanish equities. Central bank decisions and credit ratings add to the uncertainty.
Milei Replaces Olivos Civil Staff With Military After Economic Data Sparks Tensions
Javier Milei has ordered military personnel to take over management of the Olivos presidential residence, following the release of troubling economic data and a public attack on the press. The move has fueled concerns about his leadership and Argentina's political climate.
Oil routes blocked as Middle East war disrupts global supply
Key oil routes in the Middle East have been blocked or attacked. The closure of the Saudi pipeline and Bab el Mandeb strait is driving up global fuel costs. The world economy faces new risks as supply routes remain under threat.
BYD accelerates dealership expansion across Spain
BYD has added eleven new dealership groups in Spain, bringing its network to 107 sales points and 86 official service centers. The company is targeting 130 locations by year-end and is preparing to enter Andorra.
Israel and Morocco move to reopen embassies after diplomatic breakthrough
Israel and Morocco have agreed to reopen embassies and boost economic cooperation. The deal revives diplomatic ties frozen since 2000. US support and recognition of Moroccan sovereignty over Western Sahara play a key role.
Spain begins construction of Onuba hydrogen plant in Huelva with €1 billion investment
Work has started on Onuba, a major green hydrogen plant in Palos de la Frontera. With 300 MW of electrolysis and over €1 billion invested, the project marks a significant step for Spain’s energy sector.
Germany urges EU to expand tariffs on Chinese plug-in hybrid cars
Germany’s finance minister wants the EU to impose tariffs on Chinese plug-in hybrid cars, aiming to protect local carmakers as competition from China increases and European industry leaders call for stronger trade measures.
Spain becomes Europe's new car capital
Chinese automakers are making fast inroads in Spain, challenging established brands and changing the face of the European car industry. Industry expert Tu Le explains why Spain is now at the center of this shift and what it means for the future of mobility.
Spanish Hotels Warn Imserso Program No Longer Covers Costs
Hotels across Spain say Imserso travel rates are too low to break even. With nearly 900,000 subsidized spots and millions applying, key destinations like Benidorm and Mallorca may withdraw. The future of off-season tourism support is uncertain.
Spain becomes the European launchpad for Chinese electric cars
Chinese electric car makers are moving fast in Europe, and Spain is now at the heart of this shift. Industry consultant Tu Le explains how Spain became the key battleground for the future of the car industry.
US war spending on Iran triggers new crisis for Trump before elections
The US has spent nearly 40 billion dollars on the war with Iran. Missile reserves are running low and inflation is rising. Trump’s claims of victory clash with mounting costs and voter frustration.
Ibex Holds Firm as Fed Signals More Rate Hikes
The US Federal Reserve has raised interest rates and warned of further increases. Despite the aggressive tone, the Ibex remains steady. Oil prices help ease market concerns and support a positive outlook.
EU invites Canada to become first associated member after record trade growth
The EU has invited Canada to become its first associated member. Trade between the two reached 130 billion euros in 2025, up 80 percent since 2016. Brussels aims to deepen economic and strategic ties amid shifting global alliances.
Congress rejects government’s lobbyist regulation decree in Spain
Spain’s Congress has voted down the government’s emergency decree on lobbyist regulation, leaving Madrid unable to meet EU transparency deadlines. Meanwhile, a major support package for Ceuta has passed with broad backing.
SEAT faces uncertain future as Volkswagen shifts focus to CUPRA
SEAT, once the engine of Spanish mobility and ambition, now stands at a crossroads. As Volkswagen restructures and bets on CUPRA, the fate of SEAT hangs in the balance, raising questions about Spain’s industrial direction.
Federal Reserve Rate Hike Puts IBEX 35 and Euro Under Pressure
The Federal Reserve raised rates for the first time since 2023, sending shockwaves through Spanish markets. The IBEX 35 and euro both face renewed pressure. Investors brace for a day shaped by central bank decisions and key economic data.
Shakira to play twelve-night concert series in Madrid for 600,000 fans
Shakira will perform twelve concerts in Madrid at a thirty-hectare venue, aiming to draw 600,000 people. The event will include food, art, fashion, family activities, and a Barranquilla-style carnival. Organizers hope to set a new standard for live music in Spain.
Chinese Firms Take Over Key Spanish Car Factories
Chinese companies now control or partner in six major Spanish automotive plants. The latest change puts VW’s Sagunto battery factory under Gotion’s management after a Korean partner pulled out.
Trump threatens tariffs over EU-Canada partnership talks
Donald Trump has warned he may impose steep tariffs or halt trade with Europe if the EU advances its partnership with Canada. The threat follows a proposal to make Canada the first associated member of the EU. Tensions rise as leaders weigh the consequences.
Domestic air travel in Spain rises as AVE disruption shifts demand
Spain’s domestic air traffic is climbing again. AVE high-speed rail disruptions and Ryanair’s retreat have shifted passengers to airlines. Vueling now dominates national routes, while regional airports feel the impact.
Spain left without lobby law as Congress rejects government decree
Spain remains the only major EU country without lobby regulation after Congress votes down the government’s decree. The decision erases new rules for interest groups and widens the gap with France, Germany, and the UK.
Spanish Drivers Urged to Fill Up Before Fuel Prices Rise Again
With fuel prices already near record highs, Spanish motorists are being advised to refuel before September 17. An upcoming price update and international tensions could push costs even higher in the coming days.
Spain Sees First-Ever Decline in Petrol Stations as Official Count Drops
For the first time, Spain has fewer petrol stations than before, with 195 closures recorded in the first half of 2026. The CNMC is now asking the public whether more stations are needed as new rules and market changes reshape the sector.
Electric cars now dip below 15,000 euros in Spain—if you read the fine print
For the first time, six electric cars are technically available in Spain for under 15,000 euros—if buyers combine discounts, financing, and public incentives. The real price depends on the details, but the market is changing quickly.
Cash withdrawals over three thousand euros trigger tax scrutiny in Spain
Withdrawing more than three thousand euros in cash from an ATM now places account holders under the close watch of the Agencia Tributaria. The move, coordinated with banks and the Bank of Spain, aims to tighten the fight against tax fraud and ensure transparency in high-value cash movements.
Spanish Families Juggle Rising Costs of After-School Activities and Aging Cars
Spanish families spent nearly 2.8 billion euros last year on after-school activities, while most still drive older petrol or diesel cars. Experts say how you drive matters more than what you drive when it comes to saving on fuel.
Revolut offers 3.51% promo rate to new savers after ECB hike
Revolut is raising the stakes for savers by offering a 3.51 percent annual yield to new account holders. This move comes just as the European Central Bank increased its deposit facility rate to 2.50 percent, making Revolut’s offer notably more attractive for those seeking short-term returns.
Revolut launches high-yield savings offer for new Spanish customers
Revolut is once again offering a 3.51% annual interest rate for new customers in Spain. The deal applies to instant-access savings accounts, with clear conditions and no set end date for sign-ups. Here is what changes for savers.
Fuel prices in Spain reach record highs, squeezing drivers
Spanish drivers are now paying up to 2.23 euros per litre for fuel, with prices in September 2026 varying sharply by city and putting extra strain on household budgets.
Warsh faces critical test as Fed prepares for first rate hike in years
Kevin Warsh is set to announce the first US interest rate hike since 2023. The move comes amid stubborn inflation and open pressure from Donald Trump. Markets brace for impact as the Federal Reserve risks a political clash.
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