BUSINESS

Orange agrees to buy Spain’s Jazztel for €3.4 billion

Friendly takeover bid depends on willingness of majority of operator’s shareholders to sell

Botín’s last supper

The Santander chairman held an informal dinner with journalists in Italy on Friday night

ECONOMY

OECD chief calls on Spain to continue with program of reforms

Ángel Gurría describes country as the “best example of how reforms can work”

ENERGY

Repsol to undertake first oil survey off Canary Islands alone

Spanish firm’s consortium partners will not take part in initial offshore exploration work

BUSINESS

Twitter Spain shifts profits to Ireland

Social network following in footsteps of other tech firms that use legal tax-reduction schemes

ECONOMY

More tax relief for the self-employed

Homeowners who returned keys to bank and victims of preferential share scam also to benefit

Banks save over €40 billion in capital thanks to government decree

New estimate is 35 percent higher than economy minister’s original forecast

latin america

Venezuela’s “camouflaged” currency devaluation sees Spanish firms lose out

Telefónica has reported losing some €4.3 billion from successive bolivar rate drops

BUSINESS

Inditex raises dividend by 10 percent after record sales in 2013

Profit growth of Zara brand owner is slowed down by currency depreciation

ECONOMY

Spain sees 42-percent spike in mortgage defaults

After seven years of crisis, high unemployment is finally affecting home loans

economy

IMF gives Spain a must-do list to put crisis behind it

Lagarde calls for further labor reforms and indirect taxes to reduce deficit

BUSINESS

Gas Natural, ENI file suit over stoppage of Egyptian gas plant

Complaint lodged with World Bank arbitration body

Spanish watchdog raises objections to new electricity rate calculation system

CNMC says the mechanism is complicated and could lead to greater fluctuation in bills

YPF DISPUTE

Repsol eyes acquisitions after sealing YPF compensation

Five-billion-dollar package will be in dollar-denominated bonds from the Argentinean government

BUSINESS

Spanish firms to start testing section of Mecca-Medina rail line at end of year

Adif and Renfe to bid for new north-south project in Saudi Arabia

ENERGY investment

Abu Dhabi sues Spain over cuts to renewables

Emirate joins other international investors crying foul over bid to reduce clean-power premiums

INTERVIEW

“Portugal is not going to need a second bailout”

Economy Minister António Pires de Lima says the program will be exited with a growing economy

CANAL IMPASSE

Sacyr leaves the door open for agreement in Panama Canal dispute

Spanish public works minister urges the two sides to renew talks

BUSINESS

Tech giants taunt the taxman

Major US technology groups paid Spain’s revenue agency just 1.2 million euros in 2012 Apple, Google, Amazon, Facebook, eBay and others use fiscal engineering to avoid payments

Panama Canal dispute may delay project by five years

Sacyr-led consortium offers to co-finance cost overruns to finish widening the waterway on time

business

US tech giants dodge Spanish taxman, paying just €1.2m on 2012 profits

Google, Apple, Amazon, Facebook, Yahoo, eBay and Microsoft use fiscal tactics to minimize filings

ECONOMY

Watchdog sees no signs of collusion in electricity tender

Antitrust agency CNMC to take no further action

FINANCE

Spanish firms obtaining more loans from overseas investors

Bailout and financial reform unable to revive domestic credit sector as foreign funds fill gap

BUSINESS

Inditex sales in Spain pick up but earnings depressed by euro strength

Leading fashion retailer posted a net profit of 1.67 billion euros in the first nine months on revenues of 11.93 billion

INDUSTRY

International offensive launched against Madrid over renewable energy cutbacks

Two major investment funds take Spanish government’s decision to cut subsidies to World Bank's arbitration agency

interview

“This devaluation will see Spain recover its credibility and confidence”

Finance Minister Cristóbal Montoro defends the government’s handling of the economy

Economy minister’s niece gives up regulator job

New giant supervisor gets off to a rocky start owing to accusations of nepotism in major appointments