Spanish finance news in brief

Digital currency

AS it publishes its plans for the future of the Spanish economy, the Bank of Spain has indicated that it believes it important to consider introducing some form of CBDC (digital currency) in order for banks to cope with new challenges.

Robot tax

The Parliamentary Commission of the Toledo Pact in Spain’s House of Congress wants the Government to consider introducing a new tax on companies that introduce robots to replace workers who after losing their jobs could apply for Social Security.

Moving out

REPSOL has decided that its activities in Ecuador where it has been exploring for oil for the last 20 years are not sufficiently profitable and is therefore (subject to government approval) selling its assets to a Canadian company for €4.2 million.

Merger progresses

AS progress to merge moves forward, the Boards of Bankia and Caixa Bank have called December shareholder meetings to gain formal approval for the proposal which will create a huge new Spanish banking entity.

Veggie burgers ok

THE European Parliament has voted to reject a proposed ban initiated by the powerful farming lobby on use of meat terms for vegetarian products such as veggie burgers but it will stop dairy descriptions like imitation cheese.

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Written by

John Smith

Married to Ophelia in Gibraltar in 1978, John has spent much of his life travelling on security print and minting business and visited every continent except Antarctica. Having retired several years ago, the couple moved to their house in Estepona and John became a regular news writer for the EWN Media Group taking particular interest in Finance, Gibraltar and Costa del Sol Social Scene. Currently he is acting as Editorial Consultant for the paper helping to shape its future development. Share your story with us by emailing, by calling +34 951 38 61 61 or by messaging our Facebook page