The President of the Government, Pedro Sánchez, has announced that the Council of Ministers approved yesterday a first package of measures amounting to €10.6 billion, aimed at helping households, businesses, self-employed individuals, and municipalities in the 78 Valencian, Castilian-Manchegan, and Andalusian municipalities affected by the DANA. Specifically, the State will transfer up to €72,000 per deceased person and for cases of disability; between €20,000 and €60,000 for the repair of...

The catastrophic ‘cold drop‘ (Dana) that has swept through Spain and struck the Valencian Community, claiming more than 217 lives, has also caused immense material losses that are still very difficult to quantify. According to initial data, the storm has devastated 54,000 businesses, industrial warehouses, and offices, and 90% of companies are still unable to reopen. It is estimated that 17% of the companies in the province have been severely...

Yesterday, in the face of the unleashed anger of the residents of Paiporta (Valencia), where more than fifty people have lost their lives due to the floods, the President of the Government, Pedro Sánchez, chose to leave the kings and the regional president just five minutes after starting his official visit to the epicenter of the disaster, the enormous devastation caused by the torrential storms last Tuesday. The kings and...

The strong storm affecting mainly the east of the country has so far resulted in a provisional toll of 200 dead, 197 in the Valencian Community, two in Castilla-La Mancha, and one in Andalusia, according to information provided by the Government. These figures make this natural disaster one of the most severe in the last 75 years. The State Meteorological Agency (AEMET) stated this Wednesday that this Isolated High Level...

The Spanish economy grew by 0.8% in the third quarter, the same as in the previous quarter, and accelerated its year-on-year growth by two-tenths, reaching 3.4%, according to preliminary data from the National Institute of Statistics (INE). The growth of the Spanish economy is mainly due to public spending, which increased at a quarterly rate of 2.2%, a rate 1.6 points higher than the previous quarter, and to household consumption,...

Link Securities | According to reports filed with the Spanish Securities and Exchange Commission (CNMV), Zurich, a bancassurance partner of Banco Sabadell (SAB) for the past 16 years, has increased its stake in the bank’s capital to 3%, according to Expansión newspaper. This is the first communication of a major stake taken by the Swiss insurer in the bank. The transaction, registered with the National Securities Market Commission (CNMV) last...