Spain Papers Review - Thursday December 4 2008
The latest ETA killing dominates all the papers in Spain this morning.





Spain Business Brief - Thursday December 4 2008
Solbes asks the Spanish banks to be more generous to families and businesses.

Spain Business

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Spain Business Brief - Friday August 1 2008
By h.b. - Aug 1, 2008 - 1:36 PM

Hugo Chávez with King Juan Carlos in Mallorca just six days ago - Photo EFE

President of Venezuela, Hugo Chávez, says he will nationalise the Banco Santander.

Hugo Chávez, the President of Venezuela, has announced plans to nationalise the operations of Banco Santander in his country. He says he wants to buy the bank’s operations in his country, and that he will start talks on the purchase in the next few days. He said that a bank of that size was needed in Venezuela. ‘They told me they did not want to sell, now I say we are going to nationalise you’, he said. There has not yet been any reaction from the bank.
The Partido Popular has commented that it is strange that the Spanish Government had no idea as to Chávez intentions. A statement from the opposition said ‘Instead of giving away lightbulbs, the Government should look after the companies’.

Car sales in Spain are down for the third consecutive month, and at 121,437 sold in July the number is 27.5% lower than for the same month last year. The numbers come from the association of manufacturers ANFAC and dealers GANVAM. For the year so far sales of new cars are down 19% at just under 180,000.

The number of Spanish families to declare themselves bankrupt has quadrupled in the second quarter of the year to reach 89. The number, although small, is still up 345% compared to last year for the same time.

In theory when the economy slows down the trade deficit reduces as consumers tighten their belts, but the latest numbers for Spain show the current account deficit is up 15% in the year to May compared to last year at the same time at 50.14 billion. Most of the problem was caused by the spectacular rise in crude.

Banco Sabadell has take up nearly 5% of the shares in Antena 3 Television and says it wants more. The 4.9% holding was purchased from Rayet for 84 million €.

Campofrio has reached an agreement to sell its Russian subsidiary Campomos, to the Finnish company Atria for 75 million €. The sale is part of the strategy from Campofrio to develop its union with Smithfield Group.

And some good news – As many head off today at the start of the August holidays, petrol prices have started to fall, by 2% this week, following the fall in the crude price. It comes as six million car trips are expected to be taken on Spain’s roads this weekend.

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