EFE Economic Day topics for Friday, March 22, 2024

European Union Summit

BRUSSELS – The European Union's heads of state and government are holding a second day of summits in Brussels, where they will discuss the evolution of the European economy with ECB president Christine Lagarde and try to deliver a new one. The impulse to build the unity of European capital markets.

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Holy Week Tourism

Madrid – This year's Holy Week will once again set a record for tourism, with rising demand once again driving up prices and maximum occupancy in establishments and an increase in frequencies on major transport routes.

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Partner Bank

Madrid/Valencia – Santander and CaixaBank are holding their shareholders' meetings, on which day bank employees are called to strike, considering the banks' record results and their salaries to be raised by 13% over 3 years.

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US budget

WASHINGTON – Democratic and Republican caucuses in the U.S. Congress are negotiating against the clock to reach a budget deal before midnight in the U.S. that would prevent a shutdown of the administration due to lack of funding for its operations.

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Short markets

MADRID – Major stock markets are ending the week in the higher zone after a boost provided by recent news from the US Federal Reserve that it may make three interest rate cuts this year.

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Information agenda

9:00 am- Madrid.- Tourist Hotels.- INE publishes hotel situation statistics (overnight stays, accommodation and prices) for the month of February (Text)

9:00 am- Madrid.- Industry Billing.- The National Institute of Statistics (INE) publishes the Industrial Turnover Index for the month of January 2024 (Text)

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9:30 am- Madrid.- SANTANDER JUNTA.- Santander announced to its shareholders a complementary cash dividend of 9.5 cents/share, a share buyback plan of almost 1.5 billion euros, as well as the appointments of politician and financier Antonio Weiss and businessman Carlos Barabas as new independent directors. Financial City. Avenida de Cantabria s/n, Boadilla del Monte.

10:00h.- Madrid.- Banking Defaults.- The Bank of Spain updates data on loan defaults provided to households by Spanish financial institutions.

10:30 am- Madrid.- Fisheries Government.- The Minister of Agriculture, Fisheries and Food, Luis Planas, receives this Friday the representatives of the Fisheries and Aquaculture Department, who have announced that they will ask for a reduction in the meeting. VAT on fish and they would raise demands led by the Navy to support farmer mobilization. Press conference at 12.15 pm. (Text) (Photo) (Video)

11:00 am- Valencia.- CAIXABANK BOARD.- CaixaBank holds an ordinary general meeting of its shareholders, after closing 2023 with a profit of 4,816 million euros, 53.9% higher interest rates than in 2022. (Text) (Photo)

Madrid.- INDITEX UNIONS.- The CCOO has called for mobilizations in Madrid (C/ Gran Vía 25), Barcelona, ​​​​Seville, Málaga, Valencia, Bilbao, Las Palmas and Vigo in 2023 with the aim of partially reversing Inditex's record profits. .

MADRID.- BANKING AGREEMENT.- Unions CCOO, UGT and FINE today called for a 24-hour strike in the financial sector – banks, former savings banks and cooperatives – “in view of the immobility of employers” in the negotiation of contracts. (text)

Madrid.- Employment regulation.- The Ministry of Labor publishes employment regulation data for the month of January. (text)

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International

Europe

8:00 am- Berlin.- Germany Exports.- Germany's Federal Statistical Office, Testatis, releases advance data on foreign trade to countries outside the European Union.

10:00 am- Munich.- GERMANY CURRENT.- The German Institute for Economic Research (Ifo) releases its Business Confidence Index for March.

America

16:30h.- Panama City.- PANAMA AEROLÍNEAS.- Panama Copa Airlines acquires in 2023 from Sirium, a global company specialized in data analysis in the aviation industry in Latin America. Coba Airlines Maintenance Center (Text) (Photo)

19:00h.- Bogotá.- COLOMBIA RATES.- The Board of Directors of the Bank of the Republic of Colombia reviews the base interest rate, currently 12.75% (text)

Mexico City.- MEXICO INFLATION.- Mexico's National Institute of Statistics publishes the interest rate for the first half of March after reaching 4.4% in February, the first drop after three consecutive months of increases.

Mexico City.- MEXICO ECONOMY.- Mexico's National Institute of Statistics releases economic activity for January after GDP growth of 3.2% in 2023.

Asia

00:50h.- Tokyo.- Japan Inflation.- The Japanese government releases Consumer Price Index (CPI) data for the previous month. (Text)

Shanghai.- Sinopec Results.- The board of directors of Chinese state oil company Sinopec will meet to approve the 2023 fiscal year earnings report. (Text)

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