Economy of Spain

Bon Jovi to play free for fans living on a prayer

US singer Jon Bon Jovi. Photo: AP

US rock supergroup Bon Jovi will waive their fee for playing a concert in recession-hit Spain next month, reports said yesterday, with special low-price tickets for Spaniards struggling in the crisis.

Friday, 31 May, 2013, 4:33am

Banco Santander's 'retraction' gives hope to market

Alfredo Saenz, Chief Executive Officer of Spanish bank Banco Santander. Photo: AFP

Banco Santander's decision to "retract" as much as €1 billion (HK$10.1 billion) of provisions to cover property price declines may show Spain's real estate market is close to its lowest point, Chief Executive Officer Alfredo Saenz said.

1 May 2013 - 3:44am

Talking points

Chen Deming

The mainland's new top negotiator with Taiwan is expected to be unveiled at a board meeting of the Association for Relations Across the Taiwan Straits.

26 Apr 2013 - 2:27am

Immigrants leave recession-hit Spain in droves

A Madrid resident searches the internet for jobs. Photo: Reuters

Spain's population fell last year for the first time since annual records began in 1998 as immigrants left in droves because of a steep recession that has tipped one in four people in the country out of work, official data showed.

24 Apr 2013 - 5:05am

Manifesto of Spanish nun Sister Forcades taps anger at austerity

Sister Teresa Forcades is leading a campaign for 2016 elections

From her small convent in the mountains near Barcelona, Sister Teresa Forcades, a Harvard-educated Catalan nun, has emerged as a leading advocate of Spain's "indignant" protest movement against capitalism's excesses.

20 Apr 2013 - 3:29am

Number of evictions in Spain a record high in 2012

Spanish courts executed 75,605 eviction orders last year, a 16.7 per cent increase over the previous year.

Eviction procedures in Spanish courts for unpaid mortgages and rent hit a fresh high last year, an oversight body said, as a sharp economic downturn and record unemployment continued to take a toll.

27 Mar 2013 - 6:06am

Spain’s unemployment jumps to record 26pc

People queue to enter an unemployment office in Madrid. Photo: AP

Spain’s unemployment rate shot up to a record 26.02 per cent in the fourth quarter of last year, leaving almost six million people out of work, statistics showed on Thursday.

24 Jan 2013 - 6:31pm

Briefs, November 29, 2012

Lenovo started selling smartphones in Russia.

Four Spanish banks to get €37b in loans

The European Union has approved the payment of €37 billion (HK$371 billion) in bailout loans to four of Spain's struggling banks - provided each of them cut its loans and investments by 60 per cent. The sum is part of a €100 billion credit line approved by the other 16 euro-zone countries to shore up Spain's banks. AP


29 Nov 2012 - 3:46am

Spain plans to lure Chinese property buyers with residency permit

Spain is trying to revive its collapsed real estate market.

Spain plans to offer residency permits to foreigners who buy houses priced at more than 160,000 euros (HK$1.59 million) in a bid to revive its collapsed real estate market and divest itself of hundreds of thousands of unsold homes.

21 Nov 2012 - 4:17am

Spanish banks curb evictions after evicted tenants commit suicide

A woman confronts a police officer at the entrance of an office of Catalunya Caixa Bank during a protest against the institution in Barcelona. Photo: NYT

Spain's banking association has announced it will freeze eviction orders for the next two years in cases of "extreme hardship," after a woman killed herself moments before she was due to be evicted, the second such death in less than a month.

14 Nov 2012 - 3:52am

One in five Spaniards live in poverty

Every fifth resident in Spain lives in poverty according to national statistics institute INE. Photo: AP

Every fifth resident in Spain lives in poverty, new figures show.

The national statistics institute INE said 21.1 per cent of the 47-million population lived below the poverty line, meaning they live on less than US$9,610 annually.

24 Oct 2012 - 4:31am

S&P drops Spain bond ranking to near 'junk'

Spanish leader Mariano Rajoy is delaying a call for aid. Photo: EPA

Spain's debt rating has been cut to one level above junk by Standard & Poor's, which cited mounting economic and political risks as the government considers a second bailout.

The country was lowered two levels to BBB-minus from BBB-plus, S&P said yesterday.

12 Oct 2012 - 3:00am

Zara's brother opens on Fashion Street

The past few months have seen a string of fresh faces making their way to the prestigious shop spaces on Queen's Road Central. The latest one to join the competition is Spanish fashion house Massimo Dutti - which shares the same mother company, Inditex Group, as mass fashion brand Zara - which has taken up two floors of over 6,000 square feet.

29 May 2012 - 12:00am

Spain starts to sparkle once again

The rain may still be falling on Spain's beleaguered property market, but it seems that overseas buyers are prepared to wade in for a bargain. Following three years of collapsing prices and few, if any, takers for that once-so-aspirational Spanish villa in the sun, investors are returning, according to Bank of Spain figures.

7 Mar 2012 - 12:00am

trial run

What is it? The Qantas business-class seat, the Skybed, one of that generation of bigger-, better- and flashier-than-ever airline pews being trumpeted into service with discerning fleets around the world.

27 Mar 2005 - 12:00am