Spanish finance news in brief

Digital currency
Bank of Spain considers digital currency Credit: Pixabay

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.

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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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