Madrid Times

CaixaBank Mobile and Wearable Payments Rise 27.5% in First Half

CaixaBank recorded a 27.5% increase in mobile and wearable payment transactions during the first half of the year, processing nearly 140 million digital transactions in June alone.

Spain Faces Pressure to Release Legal Report Behind Conditions on BBVA-Sabadell Bid

Spain’s Economy Ministry is facing demands to publish the State Attorney report used to justify government conditions on BBVA’s contested takeover offer for Banco Sabadell.

Spain and France Push for EU-Wide Rules on Minors’ Access to Digital Platforms

Spanish and French regulators are seeking binding European Union legislation governing children’s exposure to social media platforms and algorithms following recent compliance concessions from technology companies including Meta.

Euribor Rises to 2.95%, Increasing Costs for Spanish Variable-Rate Mortgages

The main benchmark for Spanish residential mortgages climbed to 2.95% at the end of August, reversing recent declines and raising monthly payments for hundreds of thousands of variable-rate borrowers.

Spain Abandons Data-Centre Moratorium and Pledges €180 Million for AI Infrastructure

Prime Minister Pedro Sánchez’s government has dropped proposals to restrict high-energy data centres and announced €180 million in funding to expand artificial-intelligence infrastructure and domestic computing capacity.

Spain Raises Diesel Subsidy to 20 Cents Per Litre for Transport and Agriculture

The Spanish government has increased its diesel rebate for professional transport and agricultural operators after eight consecutive weeks of rising fuel costs, seeking to limit logistics inflation and supply-chain disruption.

Sánchez Blames Russian, Israeli and Far-Right Networks for Ceuta Disinformation

Spanish Prime Minister Pedro Sánchez has denied that Morocco facilitated the July migration breach in Ceuta, instead accusing Russian, Israeli and far-right networks of spreading coordinated disinformation, allegations rejected by Moscow...

Catalan Party Junts Threatens to Block Spain’s Regional Financing Deal

Junts per Catalunya has warned Prime Minister Pedro Sánchez’s government that it will oppose the proposed national financing framework unless Catalonia leaves the common system and gains full control over regional tax revenues.

Spain Faces September Deadline for Final €25 Billion in EU Recovery Funds

Spain has less than a month to request the final tranche of the European Union’s post-pandemic recovery program, with more than 140 reform commitments tied to the remaining €25 billion in transfers and loans.

Spain Inflation Accelerates to 4.3% as Energy and Fuel Costs Rise

Spain’s annual inflation rate climbed to 4.3% in August as higher fuel prices reversed recent disinflation, increasing pressure on household spending and complicating the government’s economic outlook.

Spanish Museums Launch Major Picasso and Dalí Exhibitions

Museums in Madrid, Barcelona and Málaga have opened coordinated international exhibitions devoted to Pablo Picasso and Salvador Dalí as Spain seeks to attract more cultural tourism from North America and Asia.

Vodafone Spain Chief Executive to Testify in Finetwork Debt Dispute

Vodafone Spain’s chief executive is due to appear in court in a multimillion-euro dispute over debt owed by mobile virtual network operator Finetwork, highlighting financial pressure in Spain’s competitive telecommunications sector.

Madrid Hotel Rates Surge Ahead of Formula One Grand Prix

Luxury hotel rates in Madrid have risen to as much as four times normal levels as international visitors secure accommodation ahead of the city’s Formula One Grand Prix.

Spain’s Luxury Property Market Stabilises After Golden Visa Programme Ends

High-end property brokers in Madrid, Marbella and the Balearic Islands report more normal transaction levels following the termination of Spain’s residency programme for non-European property investors.

Spanish Olive Oil and Wine Producers Face Weak Prices Despite Harvest Recovery

Olive and grape harvest volumes are recovering after several years of drought, but Spanish producers remain under financial pressure from lower international commodity prices and persistently high production costs.

Spanish Oil Company Suelopetrol Plans 515 Million Euro Venezuela Investment

Suelopetrol has outlined a potential 515 million euro investment in Venezuela, conditional on confirmation from Nicolás Maduro’s government of the company’s forty percent ownership rights in the Petrocabimas oil field.

Coricelli Emerges as Leading Bidder for Spanish Olive Oil Group Deoleo

Italian food group Coricelli has emerged as the frontrunner to acquire Deoleo, owner of the Carbonell and Bertolli brands, in a transaction being closely watched by Spain’s agricultural industry.

Gulf Sovereign Wealth Funds Increase Investment in Spanish Luxury Hotels

Investment vehicles linked to Saudi Arabia and the United Arab Emirates have acquired several high-end resorts in the Costa del Sol and Balearic Islands, extending Gulf investment in Spain’s tourism sector.

Aena Reports Record Passenger Traffic Across Spain’s Airport Network

Spanish airport operator Aena has reported unprecedented passenger volumes as capacity expansions at Madrid-Barajas and Barcelona-El Prat strengthen long-haul connections with Latin America and Asia.

Spain’s High-Speed Rail Competition Pushes Passenger Numbers to Record Levels

Competition between Renfe’s AVE, France’s Ouigo and Italy-backed Iryo is driving record rail ridership and lower fares, contributing to a decline in short-haul domestic air travel.

Spain Expands Seasonal Worker Agreements With Morocco and Senegal

Spanish agricultural groups and regional governments have finalised agreements to recruit tens of thousands of temporary workers from Morocco and Senegal as farms seek to prevent labour shortages during peak harvest periods.

Revolut Launches Euro-Pegged Stablecoin for Spanish Customers

Revolut has introduced its EURR euro-backed stablecoin in Spain as European regulators and the European Central Bank prepare for broader adoption of tokenised financial infrastructure.

Build-to-Rent Investment Expands Across Madrid, Malaga and Valencia

European funds and Spanish developers are committing billions of euros to rental housing projects around major cities as strong tenant demand and limited affordable supply reshape the residential market.

Foreign Investment in Spanish Commercial Property Heads Toward Record Levels

International investors are increasing allocations to Spanish logistics centres, premium offices and data centre infrastructure, putting commercial real estate investment on course for a record year in 2026.

Spain’s IBEX 35 Holds Near Record Highs as Banking Profits Support Market

The IBEX 35 remains close to twenty thousand points, supported by strong earnings and record profitability among Spanish banks despite wider concerns over global energy markets.

BBVA and Banco Sabadell Integration Review Advances Amid Record Banking Profits

Spanish regulators are reviewing the structural integration of BBVA and Banco Sabadell as consolidation progresses during a period of unusually strong profitability across the country’s banking industry.

Spanish Green Hydrogen Projects Advance in Andalusia Despite Subsidy Uncertainty

Cepsa and Iberdrola are continuing major investments in Andalusian hydrogen facilities designed to decarbonise heavy industry and supply clean energy to northern Europe despite uncertainty over European support mechanisms.

Chery Expands Electric Vehicle Production at Former Nissan Plant in Barcelona

Chinese automaker Chery is increasing production at its Barcelona Zona Franca facility, using the former Nissan plant as a European manufacturing base for electric vehicles.

Volkswagen’s Sagunto Battery Gigafactory Reaches Halfway Point in Construction

Construction of PowerCo’s electric vehicle battery plant near Valencia has reached the halfway stage, advancing a major European-funded industrial project expected to support the future of Spain’s automotive manufacturing sector.

Spain Moves Toward 100 Million International Tourists in 2026

Spain is on course to exceed 100 million international visitors this year as stronger aviation links and record visitor spending sustain growth across Mediterranean and Canary Islands destinations.

Canary and Balearic Islands Consider Visitor Caps After Overtourism Protests

Regional governments in Spain’s main island tourism destinations are considering daily visitor limits, higher environmental taxes and restrictions on new hotel capacity following mass protests over housing and environmental pressures.

Barcelona, Madrid and Valencia Tighten Enforcement Against Short-Term Tourist Rentals

Major Spanish cities are expanding zoning restrictions and fines against unlicensed tourist accommodation in an effort to move more properties back into the long-term rental market and ease housing shortages.

Spain’s Housing Affordability Crisis Deepens as Supply Shortages and Mortgage Costs Rise

The Bank of Spain has warned that limited homebuilding and elevated borrowing costs are increasingly excluding younger adults from homeownership while pushing urban rents to unsustainable levels.

Bank of Spain Warns Services Inflation and Energy Costs Could Keep Inflation Near Three Percent

The Bank of Spain says persistent services price increases and renewed energy costs could keep national inflation close to three percent for the rest of the year despite otherwise manageable headline price pressures.

Canary Islands Seek Emergency Support as Migrant Arrivals Strain Reception System

Authorities in the Canary Islands are seeking additional assistance from Madrid and the European Union as record irregular migration from West Africa overwhelms humanitarian and reception infrastructure across the archipelago.

Foreign-Born Workers Account for More Than 70 Percent of Spain’s New Jobs

Government labour data show immigrant workers generated more than seventy percent of employment growth over the past year, providing crucial labour for agriculture, construction and hospitality while supporting Spain’s pension system.

Spain Expands Desalination Infrastructure as Drought Threatens Catalonia and Andalusia

The Spanish government has authorised emergency funding for new and expanded desalination plants along the Mediterranean coast as prolonged drought places increasing pressure on agriculture, tourism and regional water supplies.

Amazon and Microsoft Expand Multi-Billion-Euro Data Centre Projects in Spain’s Aragon Region

Amazon Web Services and Microsoft are advancing large data centre campuses in northeastern Spain, attracted by renewable energy availability, regional incentives and Aragon’s growing role in European cloud and Artificial Intelligence inf...

Spain Calls for European Climate Eurobonds and Fossil Fuel Tax

Deputy Prime Minister Teresa Ribera has proposed that the European Union issue joint debt to finance climate emergencies and impose a bloc-wide tax on multinational oil companies following a summer marked by severe extreme weather.

Spain Completes Judicial Council Reforms After Years of Institutional Deadlock

Spain’s main political parties have implemented reforms to the General Council of the Judiciary following European Commission mediation, allowing the appointment of dozens of Supreme Court judges after a prolonged institutional dispute.

Spain Cuts Public Debt Below 100 Percent of Gross Domestic Product

Strong economic growth and record tax receipts have reduced Spain’s public debt ratio below 100 percent of gross domestic product, improving the country’s fiscal position and strengthening its standing in international bond markets.

Spain’s Economy Grows 2.4 Percent as Unemployment Falls Below Ten Percent

Spain remains one of the fastest-growing major eurozone economies, with projected 2026 growth of 2.4 percent and unemployment falling below ten percent for the first time since 2008, supported by strong consumption and foreign-born workers.

Spain Begins 2027 Budget Process With Deficit Target and Regional Debt Relief Plan

Prime Minister Pedro Sánchez’s government has begun drafting the 2027 state budget, targeting a deficit of 2.2 percent of gross domestic product while offering to absorb substantial regional debt as it seeks parliamentary backing.

Spain and Catalonia Intensify Negotiations Over Expanded Regional Tax Powers

Spain’s central government and Catalonia’s regional administration are accelerating talks on a new financing model that would give Catalonia greater tax-collection authority while helping secure parliamentary support for the national gov...

Spain Accelerates NATO Defence Spending With Multi-Billion-Euro Procurement Programme

The Spanish government has authorised major investments in armoured vehicles, air defence systems and naval frigates as Madrid seeks to modernise its armed forces and move defence spending closer to NATO’s two percent target.