Latest news with #MartaSerafinko
Reuters
08-05-2025
- Business
- Reuters
Spain's March industrial output rises 1.0% year-on-year
A worker checks bottles of olive oil on the filling and packaging conveyor belt at the Spanish olive oil producer Dcoop's factory in Antequera, Spain, April 9, 2025. REUTERS/Jon Nazca/File Photo Purchase Licensing Rights , opens new tab May 8 (Reuters) - Spain's seasonally- and calendar-adjusted industrial output rose 1.0% in March from the same month a year earlier, official data from the country's national statistics institute (INE) showed on Thursday. The year-on-year growth in March follows a 1.9% contraction in February. The Reuters Tariff Watch newsletter is your daily guide to the latest global trade and tariff news. Sign up here. Reporting by Marta Serafinko in Gdansk, editing by Inti Landauro Our Standards: The Thomson Reuters Trust Principles. , opens new tab Share X Facebook Linkedin Email Link Purchase Licensing Rights
Zawya
24-03-2025
- Business
- Zawya
Tecnicas Reunidas, Orascom secure $2.6bln contract in Saudi Arabia
Spain's Tecnicas Reunidas and Egypt's Orascom have secured a $2.6 billion contract to expand a 3 gigawatt combined cycle gas-fired power plant in Saudi Arabia, the Egyptian engineering company said on Monday. The agreement, a 50-50 joint venture, will include readying carbon capture infrastructure and will include a 380-kilovolt (kV) electrical substation, Orascom said. The project is part of a number of contracts signed by Tecnicas Reunidas in the past months in the Middle East and elsewhere that will allow it to triple its net profit in 2026 from 2023. The Spanish company, which specialises in building energy infrastructure, has seen its shares jump almost 50% so far this year as it recovers from an energy investment contraction following the pandemic and the war in Ukraine. (Reporting by Marta Serafinko in Gdansk, editing by Inti Landauro and Louise Heavens)
Yahoo
29-01-2025
- Business
- Yahoo
Spain's economy outperforms euro zone in 2024 with 3.2% growth
By Inti Landauro and Marta Serafinko MADRID (Reuters) - Spain's economy expanded 3.2% in 2024, outstripping official forecasts and far outperforming its euro zone peers, preliminary data from the National Statistics Institute showed on Wednesday. Economy Minister Carlos Cuerpo said this week the government would raise its forecast for this year from the current 2.4% following the annual data, which was buoyed by a tourism boom as well as a strong agriculture industry and higher exports. Economic growth should remain robust this year and next thanks to consumer spending, boosted by falling unemployment, and investment, brokerage Jefferies said in a note to investors. Spain's unemployment rate dropped in the fourth quarter to its lowest level in 16 years, data showed on Tuesday. Still, the rising cost of living and a housing crisis that has pushed prices through the roof in big cities has dented living standards despite the growth, head of strategy at Renta 4 brokerage Natalia Aguirre told Reuters, forecasting a slowdown in private consumption. Analysts also point to Spain's below-par GDP per capita in Western Europe and its snail-paced growth that clocked just about 4% since 2007. The country's economy expanded 0.8% in the last three months of the year from the previous three, the same pace as the quarter before. Analysts polled by Reuters had expected gross domestic product to grow 0.6% quarter-on-quarter. The full-year growth rate was faster than the 2.7% projected by the government and even the 3.1% predicted by the Central Bank. "Spain keeps leading the euro zone growth, with a GDP increase four times higher than the euro zone as a whole," Cuerpo said in a statement. Recently both France and Germany lowered their growth outlooks for this year to 0.9% and 0.3% respectively, while Italy expects a 1.2% expansion. All three are due to release GDP data on Thursday. Additionally, Spain's fiscal situation is better than its peers', Jefferies said, and it is less likely to suffer from U.S. President Donald Trump's plans to impose trade tariffs. The budget deficit is set to fall this year and next thanks to higher taxes and cuts in subsidies such as the one on electricity. Spain expects to reduce its budget deficit to 2.5% this year. Sign in to access your portfolio
