Economy

China and UK Revive Economic Talks After Six-Year Hiatus
January 13, 2025
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China and UK Revive Economic Talks After Six-Year Hiatus

China and the UK have restarted their Economic and Financial Dialogue after a six-year suspension, marking an attempt to reset strained relations. British Chancellor Rachel Reeves led the talks in Beijing, aiming to boost bilateral trade, secure investment, and address sensitive issues such as Hong Kong and China’s support for Russia.

Spain and Morocco Revive Plans for €15bn Gibraltar Strait Tunnel
January 13, 2025
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Spain and Morocco Revive Plans for €15bn Gibraltar Strait Tunnel

After a 43-year journey of stalled ambitions and €104 million in studies, Spain and Morocco are relaunching the Gibraltar Strait tunnel project. The plan involves constructing an undersea railway tunnel connecting Europe and Africa, a venture projected to cost billions of euros and take over 20 years to complete.

Legal Battle Erupts Over €2.5bn Worth of Aircraft Stuck in Russia
January 13, 2025
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Legal Battle Erupts Over €2.5bn Worth of Aircraft Stuck in Russia

Dublin’s commercial court is witnessing one of the largest and most complex commercial cases in history, with global aircraft lessors and major insurers locked in a legal fight over €2.5 billion worth of aircraft stranded in Russia. The dispute centers on compensation claims following Western sanctions imposed after the invasion of Ukraine, with insurers contesting the validity of war risk insurance claims.

Spain Plans Nationwide Single Public Transport Ticket by 2026
January 9, 2025
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Spain Plans Nationwide Single Public Transport Ticket by 2026

Spain is set to introduce a nationwide single public transport ticket by 2026, following successful models already implemented in Germany and Austria. The initiative, announced by Minister of Transport Óscar Puente, aims to streamline access to public transport across the country with a unified monthly pass, making it easier and more affordable for users to travel within Spain. The pricing structure for the pass is yet to be determined, though comparable programs in other countries range from €49 to €79 per month.

Spain Achieves Record Job Growth in 2024 with Lowest Unemployment in 17 Years
January 6, 2025
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Spain Achieves Record Job Growth in 2024 with Lowest Unemployment in 17 Years

Spain created 502,000 jobs in 2024, ending the year with 21.3 million Social Security affiliates, marking the highest December employment level on record. Unemployment dropped to 2.56 million, the lowest figure since 2007, fueled by the Christmas hiring surge and sustained labor market growth.

Portugal Attracts 10 Times More Export-Focused Foreign Investment in 2024
January 6, 2025
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Portugal Attracts 10 Times More Export-Focused Foreign Investment in 2024

Portugal experienced a tenfold increase in export-oriented foreign investments in 2024, securing €420 million in deals compared to just €41 million the previous year. The growth highlights Portugal’s appeal to foreign investors, particularly in semiconductors, automotive, pharmaceuticals, and IT sectors, with more than 1,000 new jobs expected.

Belgrade Becomes First Major European City to Offer Free Public Transport
December 22, 2024
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Belgrade Becomes First Major European City to Offer Free Public Transport

Belgrade, Serbia’s capital, will offer free public transport to all residents and visitors starting January 1, becoming the first major European city with over one million residents to take this step. The initiative aims to tackle traffic congestion and air pollution in the city of 1.7 million people, which ranks among the world’s most polluted cities. Mayor Aleksandar Sapic also announced plans to upgrade the public transport fleet by 2027, ensuring that no buses will be older than two years by 2025.

Madrid Unveils €25bn Urban Transformation with Nuevo Norte Project
December 22, 2024
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Madrid Unveils €25bn Urban Transformation with Nuevo Norte Project

Madrid’s ambitious Nuevo Norte project has taken a significant step forward as Crea Madrid Nuevo Norte (Crea MNN) acquires land from Adif for €1.245 billion. The development, spanning 2.3 million square meters, is set to transform the Chamartín area into a modern business and residential hub, featuring 10 skyscrapers and 350,000 jobs, with completion projected over the next 25 years.

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