Valencia

Sanchez

Government announces first package of measures worth €10.6 billion for Valencia

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…


Valencia

Insurance Compensation Consortium receives 46,000 claims in first few days

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…


Valencia

Death and Anger in Valencia

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…


Valencia

At least 200 dead after storm floods Valencian Community

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…



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Vossloh España chosen main locomotive provider by Israel Railways

Israel Railways will activate a contract option with Vossloh España, the Spanish subsidiary of the German Vossloh Group, and purchase nine more train Euro3000 locomotives . Last year, Vossloh España provided 15 Euro3000 units and 14 Euro4000 ones. Israel Railways has already been delivered 73 locomotives designed and manufactured in Vossloh España’s factory in Valencia. The €100-million initial operation has now been extended at a further €30 million value. Israel Railways…


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Spain’s rescued regions to lose debt issuance rights

By Joaquim Clemente, valenciaplaza.com | All finance activity planned at the autonomous government of the Valencia region must now be approved by the Spanish Treasury in Madrid before going ahead. If regions in Spain that have sought a bailout from the central administration follow the Valencia pattern, they would have seen their financial rights severely limited as a condition to tap loans from the state agency ICO, a Treasury’s credit…


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“In Spain, we shouldn’t have bailed out the bankers who sank their entities”

By Cruz Sierra, in Valencia | valenciaplaza.com | Bad timing. It must feel at least challenging to become chairman of the employers' association Cierval in the region of Valencia. The autonomous government recently asked Madrid for help to face its debts, while Madrid itself negotiates in Brussels softer deficit targets and the conditions of a banking bailout for the country's financial industry. José Vicente González said in an interview with VP that…


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Valencia-based little giant Mercadona makes a 19pc-net profit jump

Spain’s largest supermarket chain increased its turnover in 2011 to €17.831 billion, 8% up from 2010’s figures. The company, whose headquarters are in Valencia, brought some Mediterranean sun over the Spanish economy when it released this week its 2011 results. Mercadona’s productivity growth rate was 2%, earning a profit after tax of €474 million or 19% more than in 2010. Also, the supermarket has created 6,500 new permanent jobs in 2011,…