Elecnor was awarded the contract in a joint venture agreement with Omani company, Target. The new infrastructure will double the water transportation capacity from desalination plants located in Barka and Sohar (in the north of the country) to the drinking water network, bolstering the supply in the Al Batinah region, one of the Sultanate’s most populous areas.
The supermarket chain DIA and the unions representing their staff have just signed the new collective bargaining agreement for the period January 1, 2019 to December 31, 2021. This includes salary increases for the company’s 16,000 employees.Under the terms of the new agreement, modules A and B have been combined into one. This will have a salary of 13,700 euros for 2020 and 14,000 euros for 2021.
Norges Bank has raised its stake in Sacyr to 3.56% from the 2.9% it currently held, once again exceeding 3 pct of the construction and concessions group’s capital. The move coincided with the group’s decision to refocus its strategy on expanding its concession business outside Spain.
The launch of a cheap AVE, together with digitalization and internationalization, is one of the pillars of the strategy which Renfe is developing to prepare for competition from operators such as France’s SNCF, which plans to introduce its low cost AVE ‘Ouigo’ in Spain.
The aim of the move would be to obtain government approval for the operation, a necessary condition for it to be successful. SIX’s purchase proposal includes the commitment to maintaining BME’s current brands, headquarters, business lines and offices. It also upholds the company’s strategy in Spain for four years, which could now be extended.
Sabadell | Despite the poor performance of the stock this year (-3% vs IBEX) and especially since the beginning of April (where it reached its maximum of 44.25 euros / year / -12% since then), possibly due to an market towards more defensive values, until now we see no reason to stop trusting CAF.
After fulfilling three years’ maintenance of the third set of locks, Sacyr and its partners in the consortium GUPC (of which the Spanish constructor controls 41.6%) have ended their contractual relationship with the Panama Canal Authority
I. Isardo (Link Securities) | Almirall (ALM) is a vertically integrated international pharmaceutical group which focuses on the purchase, production, storage, commercialisation and mediation in the sale of specialities and pharmaceutical products and of all types of raw materials used in the production of specialities and pharmaceutical products.
After five months of negotiations, Unicaja and Liberbank have decided not to merge and to continue apart. Liberbank has announced that its Board has concluded that the contacts with Unicaja on a possible merger are over after not being able to reach agreement on the share of shares in the new entity.
Bankinter | DIA´s Q119 results show a very negative evolution in its business. The following stand out: income 1.6646 Bn € (-7.2%), EBITDA 12.4 M€ (-77.7%), EBIT -119.9 M€ (vs -6.1 M€ in Q118) and losses of -144.4 M€ (vs -16.2 M€ in Q118). On 26 April DIA had already published an advance of the preliminary results for Q119. It anticipated sales of 1.615/1.715 M€ vs 1.793 M€, an EBIT of -115/-125 M€ and net annual profits of -140/-150 M€.