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Spain tops foreign property chart

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Spain tops foreign property chart

Spain has topped a list of countries for the best foreign property investments in 2010.
Maintaining its place from last year, the country once again ranked number one for A Place in the Sun.
New appearances in the list included…

The government issues pension correction

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The government issues pension correction

A correction to the 2009-2013 Stability Plan was submitted to Brussels in order to eliminate a given example that may lead to misinterpretation
The Government has sent a correction to the European Commission this morning of the Update of the…

Pressure mounts on Spain’s Zapatero over economy

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Pressure mounts on Spain’s Zapatero over economy

Spanish unions said on Thursday they plan protests and the opposition may hold a vote of no confidence as criticism mounted of Prime Minister Jose Luis Rodriguez Zapatero´s efforts to overhaul state finances.
Doubts about Spain´s deficit pushed Spanish bond…

January car sales up

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January car sales up

Spanish car sales rose 18.1 percent in January compared with the same month of last year, but will fall in the second half of 2010 as government subsidies fade away, car makers´ association ANFAC said Monday.
The sales increase followed…

Spain Consumer Confidence Rises In January

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Spain Consumer Confidence Rises In January

Spain´s index for consumer sentiment rose to 78.7 in January from 74.7 in December, the Instituto Credito Oficial said on Wednesday. The index was also sharply above January 2009´s score of 50.1.
The index measuring consumers´ perception of the current…

Santander Faces Scrutiny on Property, Loans After BBVA ‘Shock’

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Santander Faces Scrutiny on Property, Loans After BBVA ‘Shock’

Banco Santander SA, the biggest Spanish bank, faces increased investor scrutiny over lending to property developers after Banco Bilbao Vizcaya Argentaria SA said its doubtful loans in Spain almost doubled.
“It’s all to do with real estate and developers, and…

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Spain proposes boosting retirement age to 67

The Spanish government will propose a rise in the retirement age to 67 from the current 65 so that it can still afford to pay pensions as the population ages, the Labour Ministry said on Friday.
The government wants business…

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Pain in Spain tests social calm

In just two years, Spain has gone from being Europe's biggest job creator to the fastest destroyer of jobs.
With unemployment close to 4 million or 19 percent of the workforce and rising, the country that holds the European Union´s…

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Spain’s Government will be “more strict” with the autonomous communities

The Minister of Finance admitted that the deficit has come about because of the “cyclical” effect the economic downturn has, with falling incomes and spending increases to offset the effects of the crisis, which is to be addressed within communities…

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Spain’s bleeding economy spurs a different bull run

Spain’s worst economic downturn in decades has, at least, proved good news for one long-suffering symbol of the country — the bulls that normally face matadors in the ring.
As Spain’s unemployment rate nears 18 per cent and consumer spending…

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New Year brings some price increases to Spain

Spain already has seen prices rise in 2010, mainly in the transportation sector.
The high-speed AVE train linking Madrid to cities such as Seville and Barcelona, saw prices rise by an average of 4 percent. The price of medium-distance railway…

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More financial worries for Spain

The Wall Street Journal (http://online.wsj.com/article/BT-CO-20091230-700090.html) has highlighted again the fragility of the Spanish financial system and property markets. In the face of weakening profitability and more stringent solvency requirements, Spanish banks, particularly the local savings banks (cajas), are having to…

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Spain’s PM promises austerity plan to ease deficit

Spain´s government will present an austerity plan by the end of January to help cut the public deficit to 3 percent of gross domestic product by 2013, Prime Minister Jose Luis Rodriguez Zapatero said on Wednesday.
Spain´s public deficit is…

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Spain companies up for sale in 2010; Price? 1 euro

Foreign funds will be the buyers of debt-strapped Spanish businesses putting up “for sale” signs in 2010, many for the symbolic price of 1 euro, the director of a niche investment bank said.
As the world starts to emerge from…

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Spain Retail Sales Continue To Drop In November

Retail sales in Spain dropped 4.3% year-on-year in November after the 4% decrease in the previous month, the Madrid based National Statistics Institute reported on Tuesday. Adjusting for calendar effects, total retail sales slumped 5.5% compared with November 2008.
Region…

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Spain’s new-car subsidies ‘to expire in mid-2010′

The Spanish government´s subsidies on new cars — credited with reversing a slump in sales — will expire in mid-2010 and will not be renewed, the industry minister said Monday.
If sales continue at their current level the amount allocated…

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Goldman May Move 20% of UK Staff to Spain

Goldman Sachs (GS) has threatened the UK Treasury with plans to move up to 20 per cent of its London-based staff to Spain in a standoff over tax and bonuses.
It´s believed that the Wall Street investment bank, which paid…

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Spain banks’ bad loans at 13-yr high in Oct

Spanish banks' bad loans rose in October to their highest level in 13 years as the country´s property sector-fuelled recession further hit borrowers´ ability to service their debts, Bank of Spain data showed on Friday.
The volume of bad debts…

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