All posts by Carmen Gomaro

Carmen Gomaro - leading international news and investigative reporter. Worked at various media outlets in Spain, Argentina and Colombia, including Diario de Cádiz, CNN+, Telemadrid and EFE.

Indra's entry into ITP closes the last fringe of the governance crisis of the company owned by the State

The purchase this Friday of 9.5% of the aircraft engine manufacturer ITP by Indra has meant the confirmation of an operation that has been circulating for two years through the gossip and offices of the Ibex 35 and that those responsible for the Ibex listed 35 have repeatedly denied it in public.

“It's not on the table”, was the usual tagline used by the company's previous CEO, Ignacio Mataix, when the analysts who followed the company asked him about the existence of the operation, carried out at the behest of the Government to thus create a new defending champion.

Precisely, the reluctance of Indra's previous management to buy ITP was one of the triggers for the departure of Fernando Abril-Martorell from the company and the governance crisis unleashed as a result of this. Now, two years and three months later, the Executive sees its objective fulfilled and the previous appointment of a respected executive such as José Vicente de los Mozos as CEO of the group seems to have calmed the waters in the corporation, which will thus be able to squeeze its good fortune on the stock market. business results and take advantage of the situation in the defense sector to grow on the floor, while increasing the weight of this sector on its balance sheet.

The next step for the company led by De los Mozos is to appoint a director, who would become part of a body in which the rest of the company's national shareholders are also present: the Basque Government (6%), SAPA (5%), %), also a shareholder of Indra, and JB Capital (10%).

The 175 million euros disbursed by Indra to acquire a stake in ITP mean that ITP is valued at almost 2,000 million euros, a much higher figure than the slightly more than 1,600 million (with debt) paid by the Bain investment fund last year. year – and quite close to the 2,300 million euros that Indra itself capitalizes.

During the last two months Bain Capital and Indra had accelerated contacts to close the purchase. Indra intended to acquire up to 15% of the share capital and would have offered 250 million euros for this stake. However, Bain considered this offer insufficient in a new market in the aeronautical sector where the war in Ukraine has multiplied investments in defense and when ITP is leading projects to use new less polluting and more efficient fuels for commercial aircraft.

FUTURE

In addition to taking part of the capital, Indra has also signed an agreement with ITP to act as technological partners in projects such as the Future European Air Combat System (FCAS), where the listed company is the Spanish industrial coordinator of which it is one of the star projects of European defense.

More in the medium term, it is expected that the technology will increase its weight in the engine manufacturer. Like all investment funds, Bain's presence in the capital of ITP will not last forever and, if the circumstances arise, when it leaves, the Government's intention would be for a strategic company like the Basque one to remain in Spanish hands. Indra's opinion was already revealed by its president (and government man), Marc Murtra, at his last shareholders' meeting: “We are an operator with an industrial vocation, we do not make financial investments”. Meanwhile, the company is already working on its strategic plan, which it will present at the beginning of 2024.

BigBuy: the art of selling without having a product or a warehouse or a Chinese partner

That the pandemic and the confinement of millions of people around the world triggered sales of e-commerce is, at this point, a no-brainer. But the ecommerce revolution brought about by the covid goes further. It's called dropshipping, and for the first time in a long time, it's fleeing China. The Asian giant is losing points as the world's largest warehouse that supplies products to the entire planet.

BigBuy has its facilities in Moncada (Valencia), a success story that summarizes the changes

The PNV cools the investiture of Chivite and now demands "guarantees" from him

The PNV has decided to cool the investiture of the socialist María Chivite in Navarra and will extend the terms initially planned to respond to the latest proposal from the PSOE to repeat as government partners. The Navarrese parliamentarian and representative of the PNV María Solana confirmed the “difficult moments” to close an agreement and made President Chivite ugly because she did not know what happens in the negotiations because she does not attend them.

The PSOE of Navarra has guaranteed since last Tuesday thanks to EH Bildu that María Chivite will be re-elected regional president but she does not know, two months and after the 28-M elections, with whom she will be able to govern. The almost agreement that was taken for granted with Geroa Bai (a coalition in which the PNV is a member) after the last socialist offer last Thursday has not finished convincing Ortuzar's party while the group called Geroa Socialverdes led by Uxue Barkos remains silent. The Socialists hoped to have achieved Geroa Bai's definitive yes yesterday after assuming demands such as giving them four departments and an autonomous senator.

In fact, the PSN summoned its leadership yesterday to endorse the pact but had to limit itself to demanding that an agreement be reached “as soon as possible” so that a “government that gives confidence and certainty as soon as possible” is put into operation. to the Navarrese society.

But María Solana resorted to three arguments yesterday to delay a negotiation that the PSN intended to have closed already this week to activate the double investiture session starting next Sunday with a meeting between María Chivite and the president of the Provincial Parliament Unai Hualde.

The PNV now requires the socialist candidate to establish a “closed government program” that also includes the “disagreements” between the two formations and with the third partner Contigo Navarra, who has already agreed to join the future Executive by having tied Housing management. The second demand of the Ortuzar party that, for the moment, is established in the “guarantees” for the fulfillment of the commitments acquired in the government program after accusing Chivite of “non-compliance” in the last legislature. Thirdly, Solana took advantage of a brief appearance before the media in Estella to directly point out Chivite for his decision to stay out of the negotiations.

The representative of the PNV in the Provincial Parliament was ironic with the lack of information from Chivite about the real situation of the negotiations for not attending them. “We already value badly [that Chivite did not attend] and we continue to value it fatally because it is for her who the vote is requested,” said Solana minutes after Chivite, just a few meters away, assured that he only contemplates that Geroa Bai finally agree to enter his second coalition government.

A tug of war in the negotiations between two government partners in the last legislature that the president of UPN Javier Esparza denounced yesterday as a “show” around the “sharing of power” in the regional government. Esparza recalled that he had offered Chivite a “governance pact” in Navarra so as not to depend on EH Bildu, which the PSOE has despised.. Chivite will need the abstention or even the affirmative vote of Arnaldo Otegi's coalition if he does not finally close his agreement with the coalition led in these negotiations by the PNV.

As happened in 2019, PSOE and EH Bildu do not formally hold negotiations but the Socialists have shielded their good relationship with the Abertzale coalition in Navarra and Otegi's party hastened to guarantee the investiture of Chivite without “red lines” or prior commitments. The acting president has been executing since 2019 the strategy led by number three of the PSOE Santos Cerdán to institutionally drown UPN, the party that has won the last two regional elections without being able to reach the presidency of Navarra.

EH Bildu will have to activate the internal process that Laura Aznal announced last Tuesday to endorse her support for Chivite. Former leaders of the nationalist left such as Karmelo Landa and sympathizers linked to the teaching and promotion of the Basque language have questioned in recent days on social networks the unconditional support announced by the Bildu leadership in Navarra for the socialist María Chivite. Critical voices that demand that the PSN now commit to supporting a motion of no confidence against the mayoress of Pamplona Cristina Ibarrola (UPN) to facilitate her replacement by Joseba Asiron.

The PP of Murcia puts pressure on Vox after the agreement in Aragon: "There is no alternative"

With the agreement reached in Aragon, the last autonomous government that the PP has to form is that of Murcia, where Vox is reluctant to give it the two abstentions that Fernando López Miras needs if he does not have a place in the Government. «We got 43% of the votes, just two seats from the absolute majority. In Aragon, the PP obtained 35.5% of the votes, with six deputies lacking to achieve that absolute majority.

The proposal that is currently on the table of the Santiago Abascal party is that the Presidency of the Assembly in Murcia remain in his power and that they can elect the senator by autonomous designation. So far, the response to that position has always been negative.. “The will to reach a programmatic agreement with Vox that facilitates a government and unblocks the Region of Murcia is maintained,” they point out in the environment of López Miras, in the style of those that Vox did accept in the Balearic Islands to invest Marga Prohens as president ..

«The PP does not need Vox to govern Murcia. Therefore, if the PP does not govern in Murcia, it is not because an agreement has not been reached, it is because Vox blocks the formation of the only possible government”, point out PP sources, who stress that the popular ones have obtained “one of the best results of Spain” and “the demands” of Vox are “higher” than in Extremadura, Aragon or the Valencian Community.

Queen Letizia, Princess Leonor and Infanta Sofía have visited by surprise this Friday the Escola Jovent Farm, a cooperative that seeks to integrate children with functional diversity and who benefit from the advantages of being in contact with animals. It is a private visit, which has only been known through the social networks of the school farm itself.

The wife of Felipe VI and their daughters have taken advantage of the vacation day to learn about this project, launched in 1997 by a group of monitors who wanted to advance environmental education. During the morning, the Queen and her daughters have known the facilities and have chatted very animated both with the children and with the monitors who were at the farm at that time, which offers a summer camp until five in the afternoon.

“Today we have received a surprise visit from the queen and her daughters, Leonor and Sofía. They have verified the work of integration and coexistence that we do with girls and boys with functional diversity and all the love that we put in our Granja Escola Jovent. It was great! We wholeheartedly appreciate that you have come to learn about our project and share our sustainable educational perspective.. Come back soon!”, has published the Farm's Instagram account along with numerous images of the visit.

This is the second appearance of the daughters of the King and Queen in Mallorca, who already visited the Alfabia gardens with their parents at the beginning of the week, it was also a private visit, although the press was able to cover part of the tour of this jewel from the interior of the island. Doña Letizia wanted -taking advantage of the bad weather this morning in Palma- for her daughters to get to know a project of a social nature, as they already did in 2020, when they visited the Naüm Son Roca center. At that moment they decided on a socio-educational project led by the sisters of charity.

The Air Force plane that has evacuated 74 people from Niger lands in Madrid

After five days of negotiations and coordinated work between the Ministries of Defense and Foreign Affairs, Spain completed this Friday at six in the afternoon the evacuation of citizens from Niger, a country plunged into chaos after the coup d'état led by presidential forces last July 26.

Five minutes before six in the afternoon yesterday, an A330 plane from the Air Force and Space landed at the Torrejón de Ardoz Air Base, in Madrid. Inside were 74 returnees of 18 nationalities: 16 Spaniards with 4 relatives of Nigerian origin, 9 citizens of the European Union, 6 from other European countries, 7 Americans, and 32 citizens of 10 other nationalities from Africa, Asia and Oceania. according to government sources. On land they were received by the Undersecretary of Foreign Affairs, Luis Cuesta, and the Director of Consular Affairs, Xavier Martí.

The Spanish Embassy in Niamey had a list with just over 70 nationals registered in Niger. To the 16 Spaniards that the Army plane brought this Friday are added the 23 that arrived in Paris at dawn on Thursday and another 8 Spaniards landed in Hannover (Germany) this morning. The rest of the citizens have decided to remain in Niger despite the situation of insecurity, with flights and borders closed and the president, Mohamed Bazoum, imprisoned by the coup plotters. The same sources have reported that Spain has concluded the process of extracting non-combatant personnel and that the ambassador remains in the country at the head of the Embassy, which remains open pending events.

Both Europe and the United States are doing everything possible to restore democratic order in Niger, which was the only region in sub-Saharan Africa not controlled by the military.. In addition, according to EFE, the president of Nigeria, Bola Tinubu, addressed the Senate yesterday to inform him about the proposal for a possible military intervention in Niger and the sanctions announced by the Economic Community of West African States (Cedeao).. As reported, under his leadership, Cedeao resolved to seek the return of the democratically elected and now imprisoned government.

The incidence of Covid-19 rises 150% since the beginning of July and reaches 75 cases per 100,000 inhabitants

In week 30/2023 –from July 24 to 30 of this year–, the rate of Covid-19 in Primary Care stands at 75 cases per 100,000 inhabitants, compared to 55 cases reported in the previous week, which which represents an increase of 36%, according to data from the report on Sentinel Surveillance of Acute Respiratory Infection in Primary Care and in Hospitals carried out by the Carlos III Health Institute (ISCIII).

The Ministry of Health stopped publishing its usual report with the indicators of the evolution of the pandemic once the Government approved the Royal Decree that ended the health crisis, on July 4. Therefore, now the data is collected in the aforementioned ISCIII report, which monitors the situation of influenza and other respiratory viruses in Spain, such as the respiratory syncytial virus.

Compared to week 26 –from June 26 to July 2–, the increase in the incidence of SARS-CoV-2 has been 150%, since on that date there were 30 cases per 100,000 inhabitants. From week 24/2023, it decreases progressively until week 27/2023; although from this fluctuations are observed.

In week 30, the hospitalization rate for Covid-19 stands at 0.75 cases per 100,000 inhabitants (1.25 cases per 100,000 in the previous week).. By age groups, the highest hospitalization rates are observed in the group of those over 79 years of age (4.6 cases per 100,000 h)

The SARS-CoV-2 variants that have circulated in the highest proportion in the last five weeks are XXB (38%) and others (75%), and since the start of the 2022-23 season they have been the BQ.1 variants (32 %), XBB.1.5 (31%), XBB (14%) and BA.5 (9%).

The Aemet announces that the third heat wave of the summer arrives on Monday with temperatures of up to 46 degrees

The State Meteorological Agency (Aemet) has issued a special notice this Friday announcing that most of the peninsula will experience a new heat wave between Monday and Friday of next week.

This is the third heat wave of this summer in Spain, after those registered between July 10 and 12, and July 17 and 19. This new episode will come after a significant temperature drop this Thursday and this Friday in most of the country, with temperatures below normal due to the entry of an Atlantic air mass from high latitudes driven by the Patricia squall.

This Saturday a rise in temperatures will begin that will last several days, which will give rise to a heat wave starting Monday that will affect a good part of the peninsula and that will probably last until Friday.. The areas least affected by this episode will be the Cantabrian and Mediterranean coasts.

The rise in temperatures will occur at first due to the strong insolation characteristic of this time of year and the atmospheric stability, to which will be added throughout the days the entry of a mass of warm and dry air of African origin, which will enter by the south of the peninsula, according to the Aemet.

The Aemet prediction indicates that the hottest capitals could be Badajoz this Sunday (43 degrees), Badajoz on Monday (44), Badajoz and Córdoba on Tuesday (44), Jaén and Toledo on Wednesday (45), and Córdoba on Thursday (46).

Therefore, this warm episode could exceed the highest temperature recorded this year, with 45.4 degrees in Figueres (Girona) on July 18, which was a historical record for heat in Catalonia after exceeding 43.7 degrees reached in Alcarrás (Lleida) in June 2019.