Finance news and archive

Nextil sells Portugal production facilities in 4.4 million euros deal

Madrid – Spanish textile multinational Nextil, which currently operates its main production hubs in Portugal and Guatemala, is continuing to optimise its business model with the sale of all its production facilities in northern Portugal. This transaction, executed under a sale and leaseback agreement, allows the company to continue operating at...

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Business|In-depth

El Corte Inglés reduced its international business by 20 percent and laid off over 900 employees in a year

Madrid - Following multiple confirmations of its positive trajectory and the announcement of its best revenue figures in 14 years for fiscal year 2024, El Corte Inglés has now released its consolidated accounts, providing a comprehensive view of its global business model. This detailed disclosure follows the department store giant's commitment...

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Business

China deploys its financial arsenal to green its industry

When one thinks of China, one rarely imagines a leader in the green economy. However, while Europe retains a certain lead in ecological transition, Beijing fully intends to reverse the trend. The government is investing massively in low-carbon projects. It is prioritising financing sectors deemed useful for the transition. It is now deploying an...

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Business

El Corte Inglés completes 500 million euro debt issuance

Madrid – El Corte Inglés, the Spanish department store group, has successfully completed a debt issuance totalling 500 million euros. The placement was executed through a bond issue with an interest rate of 3.5 percent and a maturity date in July 2033. According to details provided by the Spanish company's management, the transaction received...

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Business

A turning point: cryptocurrencies on US congress agenda

New York, July 15, 2025 – The US House of Representatives is expected to vote this week on several cryptocurrency regulation bills. This follows the impetus given by Donald Trump, seen as a blessing by the sector. After years of procrastination and a series of legislative proposals that failed to materialise, Congress is prioritising this issue...

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Inditex announces board changes as José Arnau Sierra retires; Roberto Cibeira Moreiras to join

Madrid - Coinciding with the release of its first-quarter 2025 financial results, Spanish fashion multinational Inditex announced the departure of its non-executive vice chairman, José Arnau Sierra, from its board of directors. This decision stems from his retirement from Pontegadea, Amancio Ortega’s holding company. According to a statement...

Fashion

Budget 2012-13: Thumbs-up for FDI, GST, excise a bugbear

The Union Budget presented by the Finance Minister Pranab Mukherjee in Lok Sabha today emphasised the need to reach a consensus over allowing 51 per cent foreign direct investment (FDI) in India’s retail sector and tax reforms. However, the apparel industry’s expectations of a breakthrough on excise duty were not fulfilled. The 10 per cent...