Business View

The CEO of Las Vegas Sand for Europe, Andrew Tottenham, will meet this week, possibly tomorrow, Monday, the communication and transport infrastructure that would cover Eurovegas in Madrid if magnate Sheldon Adelson finally opt for the Community to build a leisure complex .

According to informed sources told Efe Madrid regional government, Totthenham, one of the trusted men of Adelson, the team will meet with Transportation and Infrastructure of the Community of Madrid, predictably led by the owner, Pablo Cavero, to analyze and determine “better use” of such provisions for Eurovegas.

Among other things, demand that their future Adelson casino and hotel complex has connection with the airport and major AVE carts in the region.

In the municipality of Madrid, the field of sale of the Blonde is bordered by the M-501 (north), A-5 and M-506 (south), M-40 (east) and M-50 (west) , which ensures good communication.

However, its distance from Barajas Airport and the virtually zero chance of harboring an AVE station are areas in which Adelson and repaired when visited on day 6.

Meanwhile, areas Valdecarros in Villa de Vallecas district of the capital, is crossed by the M-45 and M-31, which does not please the billionaire, but bordered on the west side by way high-speed train, which would facilitate the installation of a high-speed station.

The final decision on the final location of leisure macrocomplex be taken in the summer, recently announced a spokesman for Las Vegas Sands Corporation, although the negotiation on location in Madrid and Barcelona was closed on Friday at 95 percent.

The twelve-month Euribor closed in May at 1.27%, its lowest rate in the last two years, which has seven consecutive months of declines and four cuts in mortgage lending.

After falling on Friday to 1.246%, its lowest intraday rate in two years, the monthly average interim, with four sessions to the end of the month, will allow families with mortgages hired a year ago to 2.147% benefit cuts around 63 euros per month or over 750 per year for an average mortgage of € 150,000.

The indicator most often used for calculating mortgages, fell in May to the edge of chaining one hundred consecutive sessions of declines, although the 99 days uninterrupted downward concluded on day 11 are the most bearish streak in its history, after the lived between October 2009 and February 2010, which came to add 91.

The Euribor has cut about a tenth in May and seven in the last year, since in the same month of 2011 stood at 2.147%.

In February this year, for the first time after 18 months of uninterrupted increases in mortgage lending, falling Euribor monthly mortgaged allowed families to reduce their fees, but merely testimonial amounting to about three per month for an average mortgage.

Then in March the reduction was more significant, reaching 30 euros a month, about 360 a year, while in April the discounts reached 52 euros a month, about 624 a year.

In April 2010, the indicator began to climb from record low monthly March of that year (1.215%), a trend that continued until mid-2011, started to decline gradually.

The ups and downs of Euribor, which is actually the rate at which banks lend money to respond to increases or decreases in interest rates in the euro area according the European Central Bank (ECB).

The agency last year approved two rate increases in April and in July-, and two sales in November and December to set the rate at 1% today.

Analysts believe that this year there will be a further cut in interest rates a quarter point (0.25%), probably in September, as a means to help economic recovery, even if inflation rebound in the area euro, currently at 2.6%.

The experts have made an open reading of the words of the council president, Mario Draghi, who has said this week that it will continue doing “everything necessary” to safeguard the stability of the euro area.

After the last meeting of the ECB Governing Council in early May, and after keeping rates unchanged at 1% Draghi already referred to the weak economic growth in the euro area, one of the arguments made in other opportunities to cut rates governing the euro area.

The construction and services group Sacyr Vallehermoso seeking business opportunities in Latin America, Eastern Europe, USA, Canada and India, among other markets, in a bid to increase its international activity, which represents 62% of the total portfolio work of the company.

According to market sources, Sacyr has a focus on waste treatment projects in Australia and Bulgaria, Poland or incineration in water purification in Mexico and Colombia.

The group headed by Manuel Manrique is also prequalified to build an electrical substation of 400 kilowatts (kW) in Scotland for the Scottish company Southern Electric.

In addition, Sacyr also committed to Chile, where he recently won a contract to build and operate a highway for 325 million euros, Colombia, a country which came in April with the construction of a road section of 103 million, and Peru .

In fact, Sacyr, through its subsidiary Valoriza service, has reached a strategic alliance with the goal of completing projects for Repsol of bioethanol and biodiesel with the multinational Fluor.

Among the projects under study and upcoming auction is the building blocks of diesel and gasoline for their compliance with environmental regulations in the refinery Pampilla Repsol in Peru, and the realization of the gas collection system (Phase II ) Caipipendi Area in Bolivia for Repsol deposits by 48.8 million.

Moreover, within the studied projects include the construction of a refining unit in Bolivia, or LPG storage terminal in Chile.

The group also has an eye to Panama, where it builds the new locks of the canal, a project valued at 2,245 million euros, in Costa Rica and to a lesser extent in Brazil.

On the other hand, Sacyr is interested in opportunities that may arise in Italy, Portugal, Poland, Romania, Qatar, India and Israel in the latter country in desalination plants, the sources said.

And, the slowdown in construction activities and residential development in Spain has resulted in the first quarter 62% of total loans originated from the group’s international activities, a percentage that increased to 78% in the area construction.

Until March, the turnover fell by 15.8% to 875.9 million euros and turnover abroad represented 38% of the total.

The secretary of the PSOE, Oscar Lopez, said today in Leon is not known a “worst management” by the Government to nationalize Bankia, and warned that “has become so bad” that the process initiated “will contaminate” the rest of the Spanish financial system.

Lopez has criticized in his speech during the opening of the XII Congress of the PSOE in the executive Leon nacionalizase the fourth largest bank on Monday morning, and every day has been learning a new figure to save the entity.

The secretary of the Socialists denounced the government that no one has explained how it came to the current situation, and has stressed that the PSOE will ask for “transparency” to find out who is responsible for the “mismanagement” and guarantees that the resources provided by the state “does not have a cost to the citizens.”

Lopez added that talk of public banks does not mean socializing the losses of the banks, a day after President Bankia, Jose Ignacio Goirigolzarri, submit the plan to recapitalize the company and request the State 19,000 million euros.

Colombia proposed at the UN Conference on Sustainable Development (Rio +20) a set of objectives that seek to articulate the social, economic and environmental and already has the support and assistance from the host Government of Brazil and the United Nations .

Director of Economic, Social and Environmental Colombian Ministry of Foreign Affairs, Paula Knight, said in an interview with Efe that the Brazilian President Dilma Rousseff, has called this initiative is an outcome of the meeting next month June in Rio de Janeiro.

The proposal is called Sustainable Development Goals (ODS) and seeks to extend the “successful model” of the eight Millennium Development Goals (MDGs) set by the UN in 2000 to halve the 2015 poverty levels 1990, but with a universal approach.

Secretary General Ban Ki-moon has also expressed support for the ODS and according to the Colombian Foreign Ministry, aims to be “one of the five most important legacies of his administration.”

Knight explained, there is still no set number of goals because it is a “political decision” that will address the participants of Rio +20 between 15th and June 23, but felt that the ideal is that “are few and Concrete. ”

“It is clear that it will launch a process of the ODS,” said the mother of the project that has driven hard Colombia’s Foreign Ministry, explaining also the Community of Latin American and Caribbean (ECLAC) and other countries as support “because everybody is reflected in them.”

From their point of view, five possible axes satisfy the common needs of the world around “to water, food security, sustainable cities, oceans and patterns of consumption and production patterns.”

Commit to meet those goals within certain deadlines and indicators to be defined at the top does not collide with any domestic agenda and, according to Knight, his execution “sensible” would reach “the metaobjective: reducing poverty.”

“The environmental objectives are not, are the articulation of social and economic background of the environment,” he said and called to stop thinking “green” as something apart from other dimensions of life.

For example, justified that the objective of the oceans “is not only for mermaids and dolphins,” but is closely related to food security, nutrition and hunger, because “20% of animal protein consumed in the world comes from the seas. ”

He called for thinking beyond the protection of water resources and to realize that soon will be used in “sanitation, so that children do not die of diarrhea, for industrial processes.”

Meanwhile, the Government of Colombia has decided to lead by example, so that President Juan Manuel Santos ordered the Minister of Environment and Sustainable Development, Frank Pearl, coordinate the implementation of five different ODS from Colombian institutions.

“Colombia has finished leading this because we invented it, but has always said that this is a collective construction process,” added Knight to defend the interest of the proposal to discuss proposals clear “and not esoteric” while away “the unsustainable division between north and south. “

The secretary of the PSOE, Oscar Lopez, has advanced today in Leon asked the PSOE in all municipalities of Spain to be charged the Property Tax (IBI) to the Church, and that the current situation “everyone” should contribute.

Speaking at the opening of the XII Congress of the PSOE in Leon, Lopez has said that this measure “is not against anyone” and stressed that “the Church must also make efforts.”

Lopez has made this proposal after the PP and CiU impede the past 24 days in Congress to go ahead an initiative promoted by the Plural Left to force the Catholic Church to pay property tax, which the institution is exempt sites worship and provide spaces for social services.

The Socialist leader in Spain recalled that “many people are having a great evil” and has blamed it to the chief executive, Mariano Rajoy, who “came to Government promising a change” but what he has done has been to “a change had to all Spanish. ”

Lopez stressed that Rajoy said he “would get the scissors” to everything except health and public education and has already cut 10,000 million euros in these areas.

He regretted that the PP is governing from the “arrogance”, it has established a tax amnesty when the government of Jose Luis Rodriguez Zapatero surfaced 10,000 million a year fighting fraud and has taken “by decree” Spanish Radio and Television (RTVE) for Back to “TV Party.”

Regarding the “inheritance” received by the PP, has settled, “What went wrong is worse and what was done well they are leaving a fox.”

Rajoy also criticized willing to meet the deficit target even more off than when he arrived, so it takes “a clear alternative and useful” to fight against the “lies, injustice and inefficiency” in the underlying the Government, he said.

Commenting that “hide the budget” has not served the PP to govern in Andalusia, Asturias, added that as long as someone blame the people “have spoken evil of the world” when, after all, the “inheritance” was in their own drawers, in relation to the deficit of Valencia and Madrid.

In this respect, has ensured that the PSOE and the PP will not act in opposition hoping that “the worse you go to Spain the better.”

CiU spokesman in Congress, Josep Antoni Duran i Lleida, today called Bankia operation does not cost one euro to the Spanish and stressed that the institution must return all the money you pay the state.

In a statement, Duran stressed that although the nationalization of Bankia either by capital, “this money provided by the State shall revert to the treasury when the situation is favorable as a privatization or initial public offering of securities.”

Duran has stressed that CiU will not allow it is a refundable aid.

The President of the Congress of Deputies, Jesus Posada, said today that the Spanish economy will bottom out in 2012 and next year will open a “reborn faster than you think,” the hand of improving competitiveness and exports.

“I do think that with these measures as tough and competitive gain that is taking the Spanish economy in recent months, we will see a rebirth faster than you think if the rest of the world and we export more help,” said Posada, when asked by reporters, before picking up his title of adopted son of Agreda (Soria).

As the announcement of the main Spanish companies on the positive developments that the economy will experience from 2013, Posada said that in his opinion the Spanish economy will bottom out in 2012.

He assured that the international situation is complicated at times, with Greece and the euro, which makes “all have a situation of confusion and fear.”

However, Posada stressed that the Government of Spain is on the way you should go out of the economic crisis.

“All governments have to tighten their belts, even painful, because we know there is hope and we will move forward,” he noted.

The Congress president has acknowledged that Spain currently living moment is the most difficult since the time of democratic transition, “when we played as a democratic state or not be.”

Posada has been suggested that short-term provinces that are more dependent on government support of Spain, Soria, will suffer more, but has relied on the level of higher education of their youth and their ability to save and sacrifice that will be avoided of the hardest hit in the medium term.