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Spain slashes trade deficit by a fifth as exports grow

Spain slashed its trade deficit by nearly a fifth year-on-year in January as strengthening exports by Spanish firms boosted a timid recovery in the eurozone's fourth-biggest economy, the government said. The shortfall of exports to imports in goods and services fell by 19.5 percent compared to January 2103 to 2.8 billion euros ($3.9 billion), the economy ministry said in a statement. Exports grew in January by 3.1 percent compared to a year earlier to reach 18.4 billion euros while imports declined by 0.6 percent to 21.3 billion euros, it said.

YPF makes oil find in Argentina's Rio Negro province

Buenos Aires, Mar 12 (EFE).- State-controlled oil company YPF said it discovered an oil field in Rio Negro, a province in southern Argentina. The find was made in the Los Caldenes block, located 30 kilometers (about 19 miles) north of the town of Cinco Saltos, the company said in a statement. The field contains an estimated 15 million barrels of petroleum, YPF said. The discovery was made at the Los Caldenes x-2 well, which was drilled to a depth of 31.54 meters (about 102 feet) below the well head, YPF said.

Argentina, Repsol sign accord on YPF 2 years after expropriation

Buenos Aires, Feb 27 (EFE).- The Argentine government and Spanish oil company Repsol on Thursday signed a $5 billion accord putting an end to the bitter dispute that erupted after President Cristina Fernandez expropriated 51 percent of Repsol's stake in energy company YPF in May 2012. The agreement establishes compensation for the Spanish oil firm of $5 billion in dollar-denominated government bonds, a debt that will be settled by 2033, at the latest, if the bonds are held to maturity.

EU issues objections to Spain's Telefonica over proposed E-Plus buy

Brussels, Feb 27 (EFE).- The European Commission said Thursday it expressed its concerns to Spain's Telefonica about the proposed 8.55-billion-euro ($11.7-billion) purchase of mobile operator E-Plus by the Spanish giant's German subsidiary. "I can confirm that the Commission on Wednesday sent a statement of objections related to the proposed acquisition of E-Plus by Telefonica Deutschland," Antoine Colombani, the EC's spokesman for competition policy, said at a press conference.

EU issues objections to Spain's Telefonica over proposed E-Plus buy

Brussels, Feb 27 (EFE).- The European Commission said Thursday it expressed its concerns to Spain's Telefonica about the proposed 8.55-billion-euro ($11.7-billion) purchase of mobile operator E-Plus by the Spanish giant's German subsidiary. "I can confirm that the Commission on Wednesday sent a statement of objections related to the proposed acquisition of E-Plus by Telefonica Deutschland," Antoine Colombani, the EC's spokesman for competition policy, said at a press conference.

Spain grows 0.2 pct in 4th quarter, contracts 1.2 pct for all of 2013

Madrid, Feb 27 (EFE).- Spain's economy expanded by 0.2 percent in the fourth quarter of 2013 relative to the previous quarter, falling just short of an earlier official estimate, while the country's gross domestic product fell 1.2 percent for the year as a whole, the National Statistics Institute, or INE, said Thursday in a report.

Spanish fourth-quarter growth picks up pace: official data

Spain's economy picked up pace in the fourth quarter, official data showed on Thursday, adding to signs that the country is emerging from five years of stop-start recession which destroyed millions of jobs. The Spanish economy expanded by 0.2 percent in the fourth quarter from the third, accelerating from the previous quarter's growth of 0.1 percent, the National Statistics Institute said in a report. The figure were below earlier estimates by the institute and the Bank of Spain that the eurozone's fourth-biggest economy grew by 0.3 in the October-December period.

Spain's Telefonica unveils new organizational structure

Madrid, Feb 26 (EFE).- Spanish telecommunications giant Telefonica's board approved a corporate restructuring Wednesday aimed at simplifying the operation and boosting revenue, the company said in a press release. In a move to streamline the corporation, the Telefonica Digital, Telefonica Europe and Telefonica Latam divisions will be folded into a new Global Corporate Center.

Spain's Repsol agrees to $5 billion settlement with Argentina over YPF

By Tracy Rucinski , Andrés González and Kevin Gray MADRID/BUENOS AIRES (Reuters) - Spanish oil major Repsol <REP.MC> said on Tuesday its board of directors approved a $5 billion settlement with the government of Argentina, ending a two-year dispute over the seizure of the company's operations in the country.

Telefonica prepares to offer "smartwearables" to customers

Barcelona, Feb 25 (EFE).- Spanish telecom giant Telefonica is negotiating with an important maker of international fashion wear to integrate new devices, known as "smartwearables," into designer clothing, a high-level executive said Tuesday. Daniel Hernandez, director of group purchasing devices at Telefonica, made the announcement during the Mobile World Congress in the northeastern Spanish city of Barcelona. Telefonica also unveiled an agreement with mobile manufacturers LG, Samsung and Sony Mobile.
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