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Spain mobile operators under pressure as clients switch providers

April 19, 2013 06:30
MADRID (Reuters) - A near-record number of people in Spain switched mobile phone operators in February, reflecting continued cut-throat competition as cash-strapped customers look for better deals, telecoms watchdog CMT said on Friday. In a country where one in four of the workforce is unemployed, mobile operators have stepped up efforts to undercut competitors in recent months to protect their market shares in a shrinking market.

Spain's Gas Natural Fenosa to expand LatAm investments

April 16, 2013 16:16
Barcelona, Apr 16 (EFE).- Spain's Gas Natural Fenosa plans to expand its investments in Latin America, which, along with the international gas marketing operations, is a key revenue and profit driver for the company, chairman Salvador Gabarro said Tuesday. Gas Natural Fenosa is growing in the region and there have been "expectations for some kind of a deal in the short term in Brazil," the executive told reporters in a press conference following the energy company's annual meeting.

Spanish firms regaining access to financial markets

April 12, 2013 11:16
Berlin, Apr 12 (EFE).- Spanish companies are finding it easier to obtain external financing, Eva Castillo, a Telefonica S.A. director and CEO of the company's Telefonica Europa unit, said here Friday. "The large firms issue debt and we have seen a stabilization of business profits, which gives us more potential to access the financial market," she told German investors, political figures and journalists during the presentation of the report "Spain: A Land of Opportunities."

Spain to emerge from crisis with healthier economy

April 11, 2013 13:17
Cambridge, Massachusetts, Apr 11 (EFE).- Spain will emerge from the current crisis with a much healthier economy, Spanish power giant Iberdrola's CEO, Jose Ignacio Sanchez Galan, said here Thursday during an event at Harvard University. Sanchez Galan is in the United States to present "Spain: A Land of Opportunities," a report from the Spanish Business Council for Competitiveness, or CEC, which comprises more than a dozen of the Iberian nation's leading companies.

Spanish reforms unstoppable, business leader tells U.S. investors

April 10, 2013 13:16
New York, Apr 10 (EFE).- The reforms now under way in Spain "will not stop" and the Iberian nation's economic fortunes are already beginning to change for the better, Jose Ignacio Sanchez Galan, CEO of Spanish power giant Iberdrola, said here Wednesday to an audience of executives and investors. All independent forecasts indicate Spain's economy will return to growth next year, if not sooner, he said at Spanish business school IESE's New York Center.

Spanish business leaders to woo investors in U.S.

April 9, 2013 15:01
New York, Apr 9 (EFE).- The Spanish Business Council for Competitiveness, or CEC, embarks this week on a tour of several U.S. cities during which it will explain the opportunities offered by Spain's economy to international investors. The first presentation will be made on Wednesday at the New York campus of Spain's IESE Business School and will be run by the CEO of Spanish power giant Iberdrola, Jose Ignacio Sanchez Galan, who will be accompanied by CEC President Fernando Casado.

Spain sees economy improving in early 2013

April 9, 2013 08:16
Spain's economy is faring a little better after an end-2012 slump and growth could even return by the end of 2013, Economy Minister Luis de Guindos said Tuesday as doubts grew over the prospects for debt-laden southern European economies. The Spanish economy had "clearly" improved from the final three months of 2012, when output plunged by 0.8 percent, De Guindos told an economic forum. The Spanish economic chief did not, however, predict an economic expansion in the first quarter of 2013.

Spain says economy improving early 2013

April 9, 2013 04:45
Spain's economy is faring better in early 2013 after suffering a sharp slump at the end of last year, Economy Minister Luis de Guindos said Tuesday as doubts grew over the prospects for debt-laden southern European economies. "The first quarter of this year will be clearly less bad than the previous quarter and also clearly better than the first quarter of last year," De Guindos told an economic forum in Madrid. In the final three months of 2012, Spanish gross domestic product shrank by 0.8 percent from the previous quarter. abb-ib/djw/wai

Iberdrola boss stresses rising confidence in Spain

April 4, 2013 15:01
London, Apr 4 (EFE).- The reforms undertaken by Spain in recent months have boosted investors' confidence in the country's economy, the president of Spanish power giant Iberdrola said here Thursday. Ignacio Sanchez Galan emphasized the overhauls of Spain's financial sector and labor market in comments to the media prior to the presentation in London of a report from the Spanish Business Council on Competitiveness, or CEC, touting investment opportunities in the Iberian nation.

Bank of Spain sees economy shrinking further this year

March 26, 2013 08:45
By Paul Day MADRID (Reuters) - Spain's economy will sink deeper into recession this year, the Bank of Spain said on Tuesday, sending a stark message to the government as it prepares to revise its own growth forecast. In its annual update of economic forecasts, the central bank said it saw Spain's economy shrinking by 1.5 percent in 2013 following a 1.4 percent contraction last year as austerity continues to exacerbate the effects of a burst property bubble.
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