44% of British companies in Spain plan to reduce their investments this year

United Kingdom was maintained in the first half of the year as the second country that has invested the most in Spain despite the coronavirus crisis and Brexit, with 1,004 million euros, only behind Switzerland. However, the iBritish investment in Spain decreased by 68% in the first six months of the year compared to 3.125 million last year.

A 44% of British companies foresees reduce your investments in Spain this year and a 45% keep them by 2021, while a 73% see bad weather or regular to do business.

All this according to the results presented this Monday of VI Barometer on climate and prospects for British investment in Spain, by the British Chamber of Commerce in Spain and developed jointly with Analistas Financieros Internacionales (Afi) this Monday, which highlights that despite the lower investment, the positive records of British foreign direct investment (FDI) in Spain continue.

Only in two of the last 15 years has British FDI in Spain registered more divestments than investments, which has allowed the United Kingdom to go from being the sixth largest investor in Spain in 2015 to the second largest today.

Furthermore, in 16 quarters since the Brexit referendum, those British investment flows towards Spain they have amounted to 14,665 million euros, represented the 13% of all foreign investment received by Spain.

Until June, Switzerland (2,963 million) led foreign direct investment in Spain, followed by the United Kingdom (1,004 million), France (766 million), Japan (514 million), Germany (465 million), the United States (316 million) and the Netherlands (172 million).

In the first half of 2020, demarcation most benefited by British FDI was Madrid, with an investment of 773.1 million that almost multiplies by five those of the second ranked, Catalonia, with 165.7 million, and by thirty those of the third, Andalusia, with 26.1 million.

Regarding the regions that have benefited the most from British investment in the recovery period since 2014, Madrid, with 10,671 million, once again leads a ranking completed by Catalonia (2,164.8 million) and the Basque Country (1,871.8 millions).

During the presentation of the barometer, Hugh Elliott, the United Kingdom ambassador to Spain, stressed that the data is an “excellent example of the strong commercial relationship between the United Kingdom and Spain”. “The United Kingdom is the main investor of the European Union in Spain, this close economic and friendly relationship will continue after the transition period,” he predicted.

For his part, the Mayor of Madrid, José Luis Martínez-Almeida, has underlined “the stability of the relationship between Spain and the United Kingdom, and how 34% of the foreign investment made from the Community of Madrid is also directed to the British country”.

Almeida has guaranteed that the Community and the Madrid City Council will continue “with the model of the last decades, of openness, low fiscal pressure and continuous effort for the sake of regulatory simplification to provide the region with a framework of conditions and sufficient stability so that those who want to invest in Madrid can continue to do so. “

BRITISH INVESTMENT INSTALLED IN SPAIN REACHES A NEW RECORD

In 2018, the last year for which the stocks of foreign direct investment in Spain have been calculated, United Kingdom was the second largest investor for the fourth consecutive time, continuing the uninterrupted growth of this stock since 2013 and placing it at a record figure of 63,225 million euros, which represents 14% of total FDI in Spain, only surpassed by the United States (17%) and by ahead of France (12%), Germany (10%) and Italy (9%).

By sectors, this stock is mainly distributed by the Energy, with 10,745 million of installed investment, four times more than in 2016, that of the telecommunications (8,917 million), the tobacco (6,177 million) and the manufacture of basic products of iron, steel and ferro-alloys (4.982 million).

The president of the British Chamber of Commerce in Spain, Luis Pardo, has highlighted that the British stock is “markedly productive and supports 235,600 jobs, 60% direct”, a figure that along with others “prove the good health of the bilateral relationship between the two countries even in a context impacted by a pandemic global and by the increasingly imminent outcome of Brexit “.

MOST SEE BAD OR REGULATE THE BUSINESS CLIMATE IN SPAIN

On the other hand, the VI Barometer on climate and prospects for British investment in Spain of the British Chamber of Commerce in Spain also incorporates a survey carried out between the months of July and October of this year to the more than 1,550 companies active in Spain with capital British majority.

The survey reflects a “notable deterioration” in the perception of the climate for doing business due to the collateral effects of the Covid crisis, since if a year ago only 19% of those surveyed called regulating the business climate in Spain and none They considered it bad, today 73% opt for those two options, a figure similar to that of those who in 2019 believed that it was good or acceptable (81%).

The climate data is also obtained by averaging nine topics and the nine have worsened their score compared to last year, including those related to political risk, the labor market or the degree of digitization of our economy.

Also, with character prior to the Covid crisis, a 58% believed it would grow in 2020while in the world post-Covid-19 93% expect it to fall this year, and a 47% who will continue to do so in 2021.

Regarding their investment prospects in Spain, a 44% of British companies expect to reduce them compared to 2019. Looking ahead to 2021, its maintenance predominates (45%) and, both this year and next, its main focus will be taking advantage of opportunities derived from the pandemic.

Finally, a low impact of Brexit in the investment disposition of British companies in Spain, since only 20% attribute the drop in their investments this year to the United Kingdom’s exit from the European Union, a decision that is mainly caused by fears of the appearance of regulatory requirements or barriers (62%) or of tariff costs (43%).

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73% of British companies see a bad climate for business in Spain

23/11/2020 11:52Updated: 11/23/2020 12:06 PM

United Kingdom stayed in the first semester of the year As the second country that has invested the most in Spain Despite the Covid crisis and Brexit, with 1,004 million euros, only behind Switzerland, although British investment in Spain decreased by 68% in the first six months of the year compared to 3,125 million last year.

In addition, 44% of British companies plan to reduce their investments this year in Spain and 45% to maintain them in 2021, while a 73% see bad or average weather to do business.

This is clear from the results of the VI Barometer on climate and prospects for British investment in Spain, presented this Monday by the British Chamber of Commerce in Spain and developed jointly with Analistas Financieros Internacionales (Afi), which highlights that despite the lower investment, the positive records of British foreign direct investment (FDI) in Spain continue.

E. Sanz

A figure that represents just over 1% of GDP, according to data from addmeet.com, a portal specializing in auctions and private online sales of plots and buildings.

Only in two of the last 15 years has British FDI in Spain registered more divestments than investments, which has allowed the United Kingdom to go from being the sixth largest investor in Spain in 2015 to the second today.

In addition, in the 16 quarters since the Brexit referendum, these British investment flows to Spain have amounted to 14,665 million euros and represented 13% of all foreign investment received by Spain.

Until June, Switzerland (2,963 million) led foreign direct investment in Spain, followed by the United Kingdom (1,004 million), France (766 million), Japan (514 million), Germany (465 million), USA (316 million) ) and the Netherlands (172 million).

In the first half of 2020, demarcation most benefited by British FDI was Madrid, with an investment of 773.1 million that almost multiplied by five those of the second classified, Catalonia, with 165.7 million, and by thirty those of the third, Andalusia, with 26.1 million.

Regarding the regions that have benefited the most from British investment in the recovery period since 2014, Madrid, with 10,671 million, once again leads a ranking completed by Catalonia (2,164.8 million) and the Basque Country (1,871.8 millions).

During the presentation of the barometer, the UK Ambassador to Spain Hugh Elliott, stressed that the data is an “excellent example of the strong commercial relationship between the United Kingdom and Spain”. “The United Kingdom is the main investor of the European Union in Spain, this close economic and friendly relationship will continue after the transition period,” he predicted.

For his part, the Mayor of Madrid, José Luis Martínez-Almeida, has underlined “the stability of the relationship between Spain and the United Kingdom, and how 34% of the foreign investment made from the Community of Madrid is also directed to the British country”.

Almeida has guaranteed that the Community and the Madrid City Council will continue “with the model of the last decades, of openness, low fiscal pressure and continuous effort for the sake of regulatory simplification to provide the region with a framework of conditions and sufficient stability so that those who want to invest in Madrid can continue to do so. “

British installed investment reaches a new record

In 2018, the last year for which the stocks of foreign direct investment in Spain, United Kingdom was the second most important investor for the fourth consecutive time, continuing the uninterrupted growth of this stock since 2013 and placing it at a record figure of 63,225 million euros, which represents 14% of total FDI in Spain, only exceeded by the United States (17%) and ahead of France (12%), Germany (10%) and Italy (9%).

By sectors, this stock it is distributed above all by energy, with 10,745 million of installed investment, four times more than in 2016, that of telecommunications (8,917 million), tobacco (6,177 million) and the manufacture of basic products of iron, steel and ferro-alloys (4,982 million).

The president of the British Chamber of Commerce in Spain, Luis Pardo, has highlighted that the British stock is “markedly productive and supports 235,600 jobs, 60% direct”, a figure that together with others “prove the good health of the company. bilateral relationship between the two countries even in a context impacted by a global pandemic and the increasingly imminent outcome of Brexit. “

Most see bad or regular business climate

On the other hand, the VI Barometer on climate and prospects for British investment in Spain of the British Chamber of Commerce in Spain also incorporates a survey conducted between the months of July and October this year to the more than 1,550 companies active in Spain with British majority capital.

The survey reflects a “notable deterioration” in the perception of the climate for doing business due to the collateral effects of the Covid crisis, since if a year ago only 19% of those surveyed called regulating the business climate in Spain and none They considered it bad, today 73% opt for those two options, a figure similar to that of those who in 2019 believed that it was good or acceptable (81%).

The climate data is also obtained averaging nine themes and the nine have worsened their scores compared to last year, including those related to political risk, the labor market or the degree of digitization of our economy.

In addition, prior to the covid crisis, 58% believed that it would grow in 2020, while in the post-Covid-19 world, 93% expect it to fall this year, and 47% that it will continue to do so in 2021.

Regarding their investment prospects in Spain, 44% of British companies plan to reduce them compared to 2019. Looking ahead to 2021, their maintenance predominates (45%) and, both this year and next, their main focus will be be taking advantage of opportunities derived from the pandemic.

Finally, there continues to be a low impact of Brexit on the investment disposition of British companies in Spain, since only 20% attribute the decrease in their investments this year to the United Kingdom’s exit from the European Union, a decision that they impart especially fears of the appearance of regulatory requirements or barriers (62%) or of tariff costs (43%).

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In Greece, Apple Leisure Group will start operations

Drafting

Mexico City / 16.11.2020 21:12:34

The US company Apple Leisure Group reported that through its subsidiary AM Resorts came to an agreement with Hotel Investment Partners (HIP), to open three accommodation establishments in Greece by 2022.

In a statement, the company indicated that its partner will be the owner of the hotels, while they will operate them under the Dreams and Alua Soul brands.

Apple Leisure Group indicated that with its new presence in Greece, specifically in the islands of Crete, Corfu and Zante will be the second European market where they will enter, after Spain.

Despite the challenges that the industry has faced this year, the flexibility of our business model, combined with the brands we operate, they will be the backbone to continue the expansion, he reported.

With this agreement, AM Resorts now has 16 projects under development in Europe, and a total of 39 globally, he said.

lvm

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Brexit and Corona: Markets in the USA, Europe and UK with different signs

October 22, 2020, 6:28 am

Chris Iggo, CIO Core Investments, looks to the markets and sees different omens for America, Europe and Great Britain

Chris Iggo, Axa IM, analyzes the current state of the capital markets.

USA: The prospect of Biden victory drives the markets – even after November 3rd

In my estimation, voters might expect a Biden administration to give pandemic control a higher priority. It seems obvious to many that the number of infections with Covid-19 is increasing in those states that were not excessively strict in enforcing social distancing and wearing face coverings. This has economic implications, as states like Wisconsin have seen a surge in infections and a sharp increase in initial jobless claims last week. A possible clear election victory and cyclical reflationary outlook have been driving markets lately and are likely to remain the dominant drivers through November 3rd and possibly beyond.

Europe: banks with headaches

In a phase in which the European economies are at a lower level than at the end of 2019, new corona restrictions are being imposed. The sectors the new restrictions focus on are those already hit by previous actions and changes in consumer behavior. It is likely that more businesses will close, unemployment will continue to rise, and household incomes and expenses will take another blow. Lending deterioration is likely in the corporate and household sectors, and this is a headache for a banking system already grappling with an unhelpful interest rate environment.

Brexit negotiations: UK suffers

After a decline in gross domestic product, which was more pronounced for the UK than for most of its own trading partners, it does not seem very sensible to make exports to these partners more difficult. It is difficult to argue against the view that such a development could hit UK firms on both the cost and the revenue side. Dealing successfully with the pandemic and negotiating the largest trade deal in modern history – the Brexit deal – would be challenging for any government but proving to be extraordinarily difficult for the current UK government. While UK stocks are relatively cheap, there is little news at present that would encourage UK international asset managers to increase their weighting on UK stocks.

Fauto: Axa IM

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tariffs to the United States, covid and Brexit

These are delicate times for markets around the world. The coronavirus pandemic it does not escape from any country and that ends up being noticed in investments of all kinds. And if the covid were not enough, each territory has to add its own idiosyncrasy and economic and geopolitical context.

For Maria Contreras, co-manager of the Santander Renta Fija fund, “sovereign debt markets have continued to perform well over the last few weeks. Despite the high volumes of issuance, the different purchase programs implemented by central banks make it very easy to absorb all the emitted paper “.

EC Brands

Countries with a more diversified economy or with a greater weight in the industrial and technological sector show better stock market performance throughout 2020

All in all, “the behavior is very positive both in core bonds and in peripheral country bonds. In the latter it is even better and we have seen their risk premiums reach minimum levels not seen in months. “In the United States, to begin with,” the Democrats and Republicans still do not reach an agreement on new stimulus packages for the economy. As the date of the elections approaches, it seems increasingly complicated that it can occur, “he assures.

The EU, with three open fronts

On the other hand, “the World Trade Organization gave its approval for the European Union to establish tariffs to the United States“And it is that” in the European Union the other focus of attention is once again the increase in cases of covid-19 infections, which puts the recovery at risk again. “

To all this must be added “the new lack of agreement with the United Kingdom for Brexi. On the other hand, the European authorities have extended the period of time in which governments can continue to give help to companies due to the COVID. “

“We must be aware of the new measures of the European Central Bank, such as the extension of the Purchase Program against the pandemic”

In this context, therefore, “we will have to be aware of the new measures that the European Central Bank may establish, such as the extension of the Shopping program to alleviate the pandemic, or even a new lowering of interest rates. The market sees the latter more complicated, given the difficulties in reaching the inflation levels desired by the ECB. “In addition,” the corporate bond markets have continued to perform well, helped both by the purchase programs of the central banks and by the search for higher interest rates by other market agents “.

Do you want to know more about markets and investment trends? Learn more in the video about these lines. And if you want to access all the investment advice of Santander Asset Management, Click here.

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Cuba and Turkish Airlines are committed to strengthening cooperation

Photo: taken from the Cuban News Agency

The First Deputy Minister of the Ministry of Tourism of Cuba (MINTUR), María del Carmen Orellana, and the Vice President of Sales for the Americas of Turkish Airlines, Mustafa Dogan, chaired a virtual exchange on the expansion of cooperation and operations of the airline of Turkish flag with Cuba.

During the meeting, actions were evaluated to strengthen the airline’s operations in Cuba and positively impact the arrival of tourists from Turkey, in an area with great potential for the consolidation of links between the two countries in terms of air transportation.

The First Deputy Minister of MINTUR highlighted the safety for tourists in Cuba, where rigorous hygienic-sanitary protocols have been implemented to prevent the transmission of COVID-19 and guarantee the health of all visitors.

As reported by the Cuban Foreign Ministry on the Cubaminrex website, other MINTUR executives also participated in the meeting, as well as the Ministry of Transportation (MITRANS), the Cuban Institute of Civil Aeronautics, the Corporación de la Aviación Cubana SA and the Cuban Company of Airports and Airport Services; and on the Turkish side, the director of Turkish Airlines on the Island, Salih Ahzem.

The Cuban ambassador to Turkey, Luis Amorós Núñez, was also present at the videoconference.

Source: Cuban News Agency

Comments

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Cross-border litigation after hard Brexit

October 5, 2020, 8:54 am

Mutual Fund | Markets

Since the United Kingdom (UK) will no longer be a member of the EU in three months, it is currently very likely that there will actually be an exit without an agreement. Germany would then have to apply the rules of private international law to Great Britain. Guest contribution by Frank J. Bernardi, Rödl & Partner

The consequences of Brexit for possible legal disputes between the parties have so far mostly been ignored.

The world will not end with this, but there will be some difficulties with mutual trade, for example due to customs duties and taxes. In addition to these changes, which have a direct economic impact, it must be expected that the entire legal situation will become confusing. Much of the legislation that is still in force will no longer apply.

In their contractual relationships, many companies have already adjusted to this new situation and agreed clauses that are intended to mitigate or mitigate the consequences of Brexit on the contracting parties. The consequences of Brexit for possible legal disputes between the parties have mostly been ignored.

To understand the problems that arise, one must first look at the situation. Brexit is a state leaving a group of states, the European Union. This means that only the regulations that exist due to the UK’s membership of the EU can change, because these regulations no longer apply with the membership. State treaties entered into independently of this remain unaffected by the withdrawal.

In the case of legal disputes, a distinction must be made whether they are before state courts or before arbitration courts. The basis of an arbitration procedure agreed between the parties is a contractual provision allowing legal disputes outside the national jurisdiction to be settled by an arbitration tribunal. Such agreements are internationally recognized and are often used in international treaties. If the parties have agreed to bring disputes between them to an arbitration tribunal, Brexit has no influence on this.

Serious implications for proceedings before state courts

As little as the effects of Brexit on arbitration disputes are, the effects on proceedings before state courts are just as serious. The central regulation for court proceedings in EU member states is the so-called Brussels 1a regulation. This EU regulation regulates the basic questions that are central to a legal dispute: Which law is applicable to a legal dispute? In which court should the dispute be brought? How are judgments carried out by state courts?

With the UK leaving, these questions will have to be assessed according to the regulations of private international law (IPR). That doesn’t seem too bad, because there is a concept of private international law. But the simple name IPR is misleading: in terms of content, it means that one must first see whether there is a state treaty between the states concerned that regulates the relevant issues. If this is not the case, a double check has to be carried out, because every state has its own regulations on private international law.

For example, when it comes to the question of the applicable law, it must first be checked under German law which law is applicable to the question – and then under UK law. As long as there are no deviating results, this is not a problem. But only then. The situation is not made any easier by the fact that the United Kingdom – unlike Germany – is not a party to the UN Sales Convention. Parties who have an express choice of law clause and an express clause on the jurisdiction of the court in their contracts are therefore well advised.

Side two: Enforcement options for judgments

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