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IMF praises Spain Ireland reforms but warns of risks
By Julien Toyer and Sam CageMADRID/DUBLIN (Reuters) - Spain and Ireland have made strong progress in fixing their economies but recovery will hinge on their capacity to clean up ailing lenders, create jobs and maintain investor confidence, the IMF said on Wednesday.Both countries were forced to seek international financial support after a decade-long boom fuelled by cheap credit ended abruptly ...
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Confederations Cup Stage is set for David and Goliath match between Spain and Tahiti at Maracana
Such is the size of tiny Tahiti that were the Estadio Maracana still capable of holding 200,000 spectators, as it was in 1950, it could comfortably accommodate the entire population of the French Polynesian island and still have space for another 20,000 people. Located in the centre of the South Pacific, five hours from Auckland, eight hours from Los Angeles, 10 hours from Santiago and 12 hours ...
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Spains La Caixa puts off big property portfolio sale -sources
By Sarah White MADRID, June 19 | Wed Jun 19, 2013 1:39pm EDT MADRID, June 19 (Reuters) - Spain's La Caixa has postponed the planned sale of a portfolio of 12,000 homes, two sources familiar with the deal said, in a sign Spanish banks are still reluctant to cut prices on property assets even after big writedowns. The Caixa sale fell down on price, the sources said. The bank had hoped ...
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Mercedes and Pirelli ready for FIA tribunal over tests in Barcelona
Formula One world championship when they appear before a 12-man FIA International tribunal in Paris on Thursday morning.Such an outcome could lead to them quitting the sport for good. But even if Mercedes are found guilty of contravening the FIA's ban on in-season testing using a current car, they are more likely to face a lesser punishment, such as a fine, a race ban or a points deduction. ...
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IMF warns Spain on unemployment
The International Monetary Fund is warning that Spain risks high joblessness and sluggish growth for years unless its takes ';urgent action';. In its annual assessment of the Spanish economy, ...
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Sports Thiago hat-trick leads Spain to lift U-21 title
Italy 's unusually hesitant defence as Barcelona's Thiago scored with an easy header in the sixth minute, a close-range drive in the 31st and a penalty in the ...
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IMF Demands Spain to Tighten its Ruthless Labor Reform
Madrid, Jun 19 (Prensa Latina) The International Monetary Fund (IMF) today called the conservative Spanish government for another turn to its ruthless labor reform, which allows to make even more cheaper workers layoff and facilitate wage cuts. That's one of the main requirements contained in the report on the Spanish economy, which takes place once a year by the multilateral institution ...
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IMF issues Spain unemployment warning
Spain faces the prospect of of high unemployment and sluggish growth lasting years unless the country and Europe take "urgent action" to slash the nation's crippling 27% unemployment rate and free frozen credit to businesses so they can expand, the International Monetary Fund said on June 19. A report issued by theIMFpraised Spain's reforms for stabilizing an economy that ...
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IMF Spain making strong progress
the IMF warns that the outlook for the country remains tough and has urged more action by the government and European Union to boost job creation. It expects Spain's economy to start to grow later this year. Spain has one of Europe's highest unemployment rates, currently standing at 27%. The IMF also says that further moves are needed towards banking reform. "Strong reform ...
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IMF says Spanish recession may end soon
SPAIN'S biting recession may end soon but the outlook is tough and Madrid must do more to battle the country's unacceptably high unemployment rate, the IMF has warned. Spain's economy, still reeling from a 2008 property market crash, fell into a double-dip recession in 2011 and the unemployment rate has since soared to more than 27 per cent. Prime Minister Mariano Rajoy's ...
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Spain workers evicted after occupying factory
16/06/2013 10:36 CET Industrial tension in Spain against a background of chronically high unemployment came to a head in the Basque country with the forced eviction of 70 workers from their factory near Bilbao. Police moved in on Tuesday following a court order. The company, Troqueleria del norte, which carries out die-casting for the car industry, has been in liquidation since last year and ...
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Spain must pay back incompatible subsidies for digitisation
A Spanish millionaire scheme to finance the digitisation and extension of the terrestrial television network in remote areas of the country is incompatible with EU State aid rules, the European Commission announced on 19 June. According to the Commission, ...
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IMF says hope for Spain
Spain's biting recession may end soon but the outlook is tough and Madrid must do more to battle the unacceptably high unemployment rate, the IMF warned Wednesday.Spain's economy, still reeling from a 2008 property market crash, fell into a double-dip recession in 2011 and the unemployment rate has soared to more than 27 ...
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REFILE-UPDATE 1-IMF says Spain making progress warns on jobs and banks
Wed Jun 19, 2013 10:15am EDT * Fund says Spain has done well on reforms, economic imbalances easing * Needs to do more on job creation; banks still fragile * Says Europe could help by pressing ahead with banking union By Julien Toyer MADRID, June 19 (Reuters) - Spain has made strong progress in fixing its economy but needs to do more to put millions back to work and shield its fragile banks from ...
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Spanish unemployment worries the IMF
According to a report by IMF, Spanish unemployment needs to be addressed with pro-job policies. On 19 June, James Daniel, the IMF mission chief for Spain welcomed the reforms made by the Spanish government for stabilising its economy, saying that the country will start growing again at the end of this year. However Daniel stressed that the Spanish unemployment rate is "unacceptably high ...
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Rajoy says to trim Spains bureaucracy but coy on jobs savings
MADRID (Reuters) - Spain will cut red tape and shut down redundant institutions in an overhaul of state bureaucracy, Prime Minister Mariano Rajoy said on Wednesday, putting no figure on potential savings or job ...
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The International Monetary Fund wants another labour reform from Spain
The International Monetary Fund has said that recession-wracked Spain is making progress but is urging policymakers both within the country and in Europe to take 'urgent action' to slash the country's crippling 27 percent unemployment rate. The IMF report released today following their consultation visit to Spain praised the country's reforms for stabilising the ...
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The prosecutor has put all the blame for the Prestige oil tanker disaster on the captain
The prosecutor has put all the blame on the Capitan of the 'Prestige' oil tanker which split in half at sea, spewing thick oil over the Galician coast and beyond on November 19 2002. It was the worst environmental disaster that Spain has ever seen. The macro case in A Corua has already lasted seven years, and now the prosecutor has come down on the captain who has been in ...
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Spanish workers in Gibraltar protest against pension conditions
The associations representing Spanish workers in Gibraltar staged a protest on 12 June campaigning for better pensions and social security benefits. Spanish workers in Gibraltar want the Spanish Government to change the law so that they get a similar pension benefit to what any other Spanish worker gets, when having worked all their life in Spain. They want benefits derived from their ...
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Italian and Spanish Alpha League Table 2008 published
EDHEC Risk and Management Research Centre (EDHEC) and EuroPerformance fund analysis company have released the Alpha League Table, their 2008 rankings of the top Italian and Spanish asset management companies. The ranking system is based on a measure of alpha intensity, a performance measure that has been adjusted for the risks actually taken, for all active equity management in the ...
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ID number typo sees Infanta Cristina linked with sale of 13 Costa Blanca properties
ACCUSATIONS against the King's youngest daughter, the Infanta Cristina, based upon the sale of 13 undeclared properties on the Costa Blanca and in Catalunya have turned out to be ...
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Reina Spain united despite issues
Pepe Reina says that the continuing individual problems between Iker Casillas and Alvaro Arbeloa are not distracting the Spain squad from their collective goals at the Confederations ...
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King Juan Carlos indicates he wants to get more interested in life in Spain
King Juan Carlos has lunched with the permanent commission of the State Council for the first time in 38 years. Still recovering from his hernia operation, the monarch indicated he wanted to attend the lunch which he himself had arranged. Perhaps following recent criticism of the monarchy, the King has announced his intention to be more implicated in such meetings with social groups, ...
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Spanish economy gets boost from drop in trade deficit
MADRID: Spain's trade deficit was halved in April as exports soared, especially to China and other fast-growing emerging markets, the government said Wednesday, a rare glimmer of good news for a nation struggling in a double-dip recession. Spain, with the eurozone's fourth-biggest economy, posted a deficit of 1.642 billion euros ($2.196 billion) in April compared to a deficit of 3.355 ...
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UPDATE 2-Austrias Alpine Bau goes bust Spains FCC takes hit
Wed Jun 19, 2013 7:59am EDT * Alpine Bau files for insolvency, to get administrator * Parent FCC to take 289 million euro hit * Thousands of jobs at risk * FCC shares fall 5.9 pct (Combines stories, adds work council head, market reaction) By Michael Shields and Jose Elas Rodrguez VIENNA/MADRID, June 19 (Reuters) - Alpine Bau GmbH, Austria's second-biggest construction firm, filed for ...
Spain Feature
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Spain drags its feet on cloud computing
Cloud computing, a new computing model seen by many as a major advancement in information technology, has been catching on in many developed parts of the world due to the significant benefits the new system offers, but in Spain, where experts say it may be most useful, it has failed to find a home.
Spain is traditionally known as a country that does not like to take risks and likes to maintain the status quo, for this reason other new technologies such as 3-D televisions and the like have not caught on either. But, whereas 3-D TV is a service that is marketed as enhancing one’s viewing pleasure and therefore costs more, cloud computing is a new service that offers real-world savings financially. Read more
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