Spain's inflation rate rose to 3.4% in March, driven mainly by higher fuel prices linked to the Middle East war, Reuters reported. The figure, confirmed by the National Statistics Institute (INE), represents an increase of 1.1 percentage points from the 2.3% recorded in February and one tenth above the provisional estimate published at the end of March. Core inflation, which strips out energy and fresh food, reached 2.7% in March, two tenths above both February's reading and the INE's initial advance.
Read more
Despite European funds, foreign direct investment (FDI) in Spain fell to €30.76 billion in 2025 — down 21.8% on the previous year and the lowest figure since 2021, according to Spain's Ministry of Economy, EuroNews.com reported. The drop contrasts sharply with the peak reached in 2024, when FDI reached €39.35 billion. In net terms — after deducting disinvestments — the decline was 10%.
Read more
The chairman of Spanish defence firm Indra, Angel Escribano, submitted his resignation on Wednesday, saying that staying on could "jeopardise the company’s stability" following a recent failed deal with his own company, Reuters reported. Indra said in a statement it had initiated the succession process, but did not give any further details. Indra shares went on a roller-coaster ride during the day after several news outlets reported Escribano was about to resign, but ended 3% higher.
Frutas Tadeo SA has filed for bankruptcy, a procedure currently being handled by the Commercial Court number 2 in Santa Cruz de Tenerife, Tenerife Weekly reported. This represents a complete insolvency, as the financial statements reveal the absence of assets. The court has granted creditors 15 days to evaluate the appointment of an insolvency administrator. If any irregularities are identified, the social action of liability against the administrator may be pursued. Lastly, the report should indicate whether there are sufficient grounds to classify the bankruptcy as culpable.
Spain's Prime Minister Pedro Sánchez said his government would mobilise €5 billion to shield the economy from the impact of the war in Iran, EuroNews.com reported. "The war will cost Spaniards €5 billion," he said, adding that additional resources could be deployed if necessary. The package is designed to support around 20 million households and 3 million companies. While it will not fully offset the effects of the conflict, the government hopes it will soften the economic blow. Sánchez also said that the measures will save up to €200 million for energy-intensive industries.
Read more
One of Spain’s busiest beach resorts has agreed on a plan to settle €350 million ($403 million) in compensation to land owners who were shortchanged during a real estate boom in the early 2000s, Bloomberg reported. Benidorm will make an initial €60 million payment before year-end and installments both in cash and land over many years, according to a plan approved in a city council vote on Tuesday. That will ease the impact of an obligation worth more than double the city’s annual budget and help it avert insolvency.
Read more
Grupo Celsa, a Spanish steel producer, has completed the refinancing of its debt for approximately €2.2 billion, an operation that brings to an end the restructuring process that began in 2023, the Iberian Lawyer reported. This process included the approval of the first restructuring plan in Spain following the insolvency reform, laying the foundations for ensuring the group’s viability and guaranteeing the continuity of its activity.
Read more
This content is reserved for Global Insolvency Members or members of the American Bankruptcy Institute. Create an account now to gain access. Enjoy free membership for a limited time.
Already a member? Login here.
Bilateral trade between Spain and Russia has shrunk in value, signaling a clear decision to decouple from the sanction-ridden nation, EuroNews.com reported. The Kremlin's decision to launch a full-scale invasion of Ukraine almost four years ago has had an undeniable effect on Spanish companies that aspired to open up markets in Russia, with the result that the volume of their exports has plummeted sharply since the beginning of the conflict.
Read more
Spanish black olive exporters have called on the EU to hit back at steep tariffs imposed under U.S. President Donald Trump, using powers authorised last week by the World Trade Organization, Reuters reported. On Wednesday, a WTO arbitrator issued a decision that allowed the EU to take countermeasures worth up to $13.64 million a year in the long-running dispute over ripe olives. It also opened the way for the EU to get WTO clearance to retaliate further if Washington imposes countervailing duties in the future.