Economy - Page 9
2603 newsFrom Migrant Child to Onion Pioneer: Javier Novoa’s 100-Hectare Success
Javier Novoa arrived in Argentina as a child with nothing but hope. Decades later, he leads a major onion operation, exporting to Brazil and embracing new technology. His journey reflects the determination and innovation driving the region’s agricultural growth.
Spanish Law Now Requires Full Disclosure of Housing Costs in Listings
A new law obliges real estate agencies in Spain to list all costs upfront. Buyers must be informed of every expense from the first advertisement. Failure to comply allows legal claims against agencies.
Europe’s Trailer Giants Unite Against New EU CO2 Rules
Thirty leading European trailer manufacturers have joined forces to challenge the EU’s latest CO2 emissions regulation. They warn that unrealistic targets could threaten jobs and the continent’s industrial base if not urgently revised.
Electricity Prices in Spain Drop Sharply for July 11, Cheapest Hours Revealed
Spain’s average electricity price falls to 87.32 euros per MWh on July 11. The lowest rate, even negative, appears midday. The most expensive hour hits late evening. The shift impacts household bills and daily routines.
Severe Poverty in Catalonia Rises Despite Social Aid Measures
The number of Catalans living in severe poverty has grown to 700,000. Fewer residents now receive the Guaranteed Income benefit. Official data show that current aid measures are failing to reach those most in need.
How Vitalfit Turned a €250,000 Investment Into a Multi-Million Euro Gym Chain
Roberto González, founder of Vitalfit, has built a thriving gym business in Palma de Mallorca, with monthly revenues reaching €180,000 and annual turnover set to exceed €3 million. He explains the investment, strategy, and profitability that drive his success.
Feijóo Sparks Political Storm Over Spain’s High Sick Leave Rates
Alberto Núñez-Feijóo’s remarks on Spain’s sick leave rates have ignited fierce debate. The issue exposes deep political divides and highlights the economic impact of absenteeism on businesses and the state.
Submer to Invest €1 Billion in AI Data Center at Former Ercros Site
Submer Group will transform the closed Ercros chemical plant in Flix into a major AI-focused data center. The €1 billion project is set to create 150 skilled jobs and marks a key step in Catalonia’s digital ambitions.
How to Qualify for Spain’s Ingreso Mínimo Vital While Living With Parents
Adults over 23 in Spain can apply for the Ingreso Mínimo Vital even if they live with their parents, but only if they meet specific independence, residency, and financial vulnerability criteria. The requirements are detailed and age-dependent, affecting thousands of potential applicants.
Ferran Adrià Urges Hotels to Prioritize Spanish Products at Breakfast
Ferran Adrià has called out luxury hotels in Spain for relying on imported foods at breakfast. The chef argues that Spanish products deserve more space on hotel menus. His remarks highlight a broader debate on national gastronomy.
Economist Bernardos Criticizes Youth Spending Amid Housing Crisis
Gonzalo Bernardos, economist and University of Barcelona professor, warns that many young Spaniards are unwilling to cut back on leisure spending to save for a home. His remarks highlight a growing divide over responsibility for the housing crisis.
Volkswagen Plans Major Cuts to Models and Jobs in Global Overhaul
Volkswagen has unveiled a sweeping transformation plan through 2030, aiming to cut costs, reduce its model lineup by half, and boost profitability. The company says there will be no immediate impact on its Spanish operations.
Fraudsters Use Ana Botín and El Mundo in Fake Investment Scam
A new scam exploits Ana Botín’s image and El Mundo’s branding to lure users to unauthorized investment platforms. The CNMV has issued warnings. Manipulated media and fake endorsements are central to the scheme.
Aena to Auction Iconic Abandoned Boeing 747 at Valencia Airport
Aena has launched the process to auction the long-abandoned Boeing 747 at Valencia Airport, ending nearly two decades of uncertainty. The aircraft, once the centerpiece of Pronair's ambitious plans, has stood idle since 2008 and is now officially listed for public sale.
Madrid’s Luxury Hub Replaces Failed Food Hall with €21.5M Elite Spa
Galería Canalejas in central Madrid will transform its empty Food Hall into a high-end spa. The €21.5 million project aims to attract wealthy clients after the previous gastronomic venture collapsed.
Spanish Tax Agency Returns €6.4 Billion to Former Mutualists
Spain’s tax authority has officially refunded over €6.4 billion to pensioners who contributed to historic labor mutual funds. The majority of beneficiaries fall within the €30,000–€60,000 income bracket, with average payouts exceeding €2,000 per person.
How a 26-Year-Old Trucker Bought His Own Duplex in Spain
At just 26, Lolo managed to buy a duplex in Illescas, Toledo, after years of disciplined saving. His story stands out as homeownership becomes increasingly out of reach for young Spaniards. He now pays €370 a month on a 30-year fixed mortgage.
Why Diesel Still Makes Sense for Used Cars in Most Spanish Cities
Diesel cars have lost favor in Spain’s big cities, but for millions outside strict low-emission zones, they remain a smart, cost-effective choice. Here’s why diesel still matters for the used car market—and who should consider it.
Ayuso Backs Feijóo’s Stance on Sick Leave and Calls for Balance
Isabel Díaz Ayuso has publicly supported Alberto Núñez Feijóo’s remarks on sick leave and absenteeism. The debate has sparked criticism from unions and political rivals. The issue now centers on fraud, worker rights, and the cost to Spain.
Government Prepares Mortgage Tax Relief to Secure Junts Support
Spain’s government is finalizing a housing decree with mortgage tax relief for main homes. The move aims to win Junts’ backing after tense negotiations. Rental contract extensions and new rules for tourist lets are also on the table.
Concerns Grow in Tax Agency After Leadership Shake-Up
A wave of resignations at the Agencia Tributaria has sparked unease among staff. The appointment of Antonio Ansón as director general raises fears of political influence. Inspectors and technicians demand guarantees of independence.
Bilbao BBK Live Marks 20 Years as a Key Cultural Force
Bilbao BBK Live celebrates two decades, now drawing 115,000 visitors and €23.6 million in economic impact. The festival’s evolution highlights its deep ties to the city and new focus on sustainability.
Alicante’s 22-Year-Old Farmer Builds a Thriving Agribusiness Amid Labor Crisis
At just 22, Raúl García Vidal has transformed a single hectare into PenyaFresh, a fast-growing fruit and vegetable company in Alicante. His journey highlights the urgent labor shortages and lack of young talent threatening Spain’s agricultural future.
Only 12% of Spanish Households Save or Invest Despite High Stability
A third of Spanish households feel financially stable, yet just 12% manage to save or invest. The Allianz 3am Report 2026 highlights a sharp gap between perceived security and actual savings habits in Spain.
Why Construction Jobs in Spain Are Now a Lifeline for Migrants
Luis Alberto left Honduras for Spain and started as a construction helper. Today, he earns up to €90 a day—well above minimum wage. As Spain’s building sector faces a labor shortage and an aging workforce, construction is becoming a key entry point for migrants seeking stable work.
PP Clarifies Feijóo’s Remarks on Sick Leave, Focuses on Fraud Cases
The Partido Popular has clarified that Feijóo’s recent statements on sick leave targeted fraudulent cases, not genuine illness. The party now stresses the need for consensus on tackling absenteeism and rejects pay cuts for the sick.
Catalonia Moves to Restrict Speculative Housing Purchases in Key Areas
Catalonia’s parliament has fast-tracked a law to curb speculative home buying in high-demand zones. The measure aims to limit large investors and protect residents’ access to affordable housing. Political divisions remain sharp.
Trump Orders Immediate Halt to US-Spain Trade Amid NATO Dispute
Donald Trump has instructed a full stop to all US commercial dealings with Spain. The move follows Spain’s refusal to increase defense spending and deny US access to key military bases. Madrid and Brussels have responded, emphasizing existing economic ties.
Markets Slide as Trump Ends Iran Ceasefire, Oil Prices Surge
Stock futures tumbled after Donald Trump declared the Iran ceasefire over at the NATO summit. US strikes in response to attacks in the Strait of Hormuz pushed oil prices up. European markets and most sectors also fell.
Oil Prices Surge After U.S. Ends Ceasefire With Iran
Oil prices soared nearly 6% after the U.S. launched new strikes on Iran. The escalation followed attacks on commercial vessels in the Strait of Hormuz. Washington has now withdrawn a key waiver for Iranian oil sales.
Trump Ends Iran Ceasefire After Strikes Escalate at NATO Summit
Donald Trump announced the end of the ceasefire with Iran after new military strikes. The US president dismissed further negotiations, calling Iran's actions unacceptable. Oil prices surged following the renewed conflict.
Trump Threatens to Halt All Trade with Spain over NATO Dispute
Donald Trump has ordered a halt to all US-Spain trade, citing Spain’s defense spending. The Spanish government responds, highlighting EU rules and the US trade surplus. The dispute raises new questions for bilateral relations.
Spain Overtakes South Korea in GDP, Surprising Global Analysts
Spain has surpassed South Korea in total GDP, entering the world’s top 12 economies. Strong job creation and a booming services sector drive growth, but concerns remain over housing and infrastructure.
Inditex Reports Record Profit as Marta Ortega Stresses Customer Focus
Inditex has posted its highest-ever profit, with sales and dividends also reaching new peaks. Marta Ortega highlighted the need to maintain close customer ties as the company accelerates international growth and tech investment.
How the CAE Can Cut €1,000 Off Your New Electric Car in Spain
Spain’s Certificado de Ahorro Energético (CAE) offers up to €1,000 off a new electric car—on top of other incentives. Here’s how this system works, who qualifies, and why more buyers are starting to take advantage.
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