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Spain’s tax hike threatens La Liga’s appeal

Kaká (right) signs on the dotted line for Real Madrid. But Spain's new tax system makes playing in La Liga less attractive for the big earners.

The government’s decision to raise income tax will have a very high-profile casualty: Spain’s soccer teams, which must now negotiate contracts with players under vastly different terms.

January 16th, 2012 | Posted in Business, Featured, Latest, Spain | Read More »

Spanish energy sector seeks clarity under Rajoy

The shape of things to come? The new government is likely to favour nuclear power, but post-Fukushima, it could have difficulty making progress in this area.

The new prime minister has kept his cards close to his chest on most issues, including plans for the energy industry. But we already have some clues regarding how Rajoy will handle the sector once he is in power.

December 19th, 2011 | Posted in Business, Featured, Spain | Read More »

Modern Spain’s legacy: airports, deficits and brutal cuts

Ciudad Real Airport

The economic downturn in Spain in recent years has followed a decade-long boom. It has also highlighted the bizarre way in which much of the good-times money was spent.

November 15th, 2011 | Posted in Business, Featured, Spain | Read More »

Ahead of election, Spain’s next prime minister leaves everyone guessing

A 21-percent jobless rate is one of the obvious weaknesses of the Spanish economy.

Usually when voters go to the polls they have an idea about competing politicians’ policies, and only a vague idea about which of them is going to win. But when Spaniards vote in early elections in one month’s time, they will know, almost for sure, who will win, though they’ve got only the faintest clue as to what that might mean.

October 19th, 2011 | Posted in Business, Featured, Latest, Spain | Read More »

A social network headed for global dominance… or buy-out syndrome?

California-meets-Madrid: Tuenti's main office.

Spanish site Tuenti has cornered the young domestic market with its invitation-only model. But can it survive being bought out by Telefonica and compete with the likes of Facebook overseas?

October 12th, 2011 | Posted in Business, Featured, Spain | Read More »

Spain: Too big to fail?

Spain's economy is more robust than the bailed-out countries, but it's also much bigger. Image: European Weekly.

Greece, Ireland and now Portugal. Debt-ridden, deficit-laden and bankrupt were it not for bailouts from abroad. Spain is the fourth and final letter in the hackneyed PIGS acronym for Europe’s struggling economies. It is also the biggest, and its economic future will decide the fate of the euro zone.

May 12th, 2011 | Posted in Business | Read More »

Portugal gets bailout as Sócrates eyes reelection

José Sócrates: down, but not out?

When Portuguese Prime Minister José Sócrates resigned in March after his debt-reducing austerity plan was thrown out of the Lisbon parliament many people thought it would be the end of the once popular leftist leader. They may have been wrong.

May 4th, 2011 | Posted in Business, Portugal | Read More »

With almost five million out of work, Spain’s unemployment crisis rages on

Some of Spain's nearly 5 million unemployed.

The number of people out of work in Spain hit a new record high in the first quarter of the year, but the government insists it will not surpass the five million mark. It made a similar prediction in 2009 – and was quickly proven wrong. Is this a case of history repeating itself?

April 29th, 2011 | Posted in Business, Featured | Read More »

Spanish home prices fall faster on tax changes

Spanish house prices have been falling lately.

Homeowners have been able to write off part of their mortgage payments when they fill out their income tax returns for decades. But changes to Spain’s tax law from January 1 mean far fewer people will be able benefit, contributing to an acceleration in the decline in house prices since the start of the year.

April 20th, 2011 | Posted in Business | Read More »

Inditex: fast fashion for crisis-proof profits

Crisis? What crisis? Spanish clothing giant Inditex, now the world’s largest clothing retailer, bucks the downturn in consumer spending.

March 25th, 2011 | Posted in Business | Read More »

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