Spain and UK Finance News Round-Up, October 23, Part 2

Morocco and Spain’s partnership MOROCCO and Spain are strengthening their economic partnership as preparations for the 2030 FIFA World Cup, which both countries will co-host with Portugal, gain momentum. Leaders of Morocco’s General Confederation of Moroccan Enterprises (CGEM) and Spain’s Confederation of Employers (CEOE) met in Casablanca on October 21 to discuss new investment and trade opportunities. The talks, led by Chakib Alj and Antonio Garamendi, focused on boosting cooperation in high-value sectors such as tourism, automotive, education, pharmaceuticals, sustainability, and technology. Both sides highlighted how their economies complement one another – with Morocco positioned as a gateway to Africa and Spain serving as a bridge to Latin America. The partnership aims to encourage cross-border investment, particularly among small and medium-sized enterprises (SMEs). A key outcome of the talks was the creation of a joint committee between Morocco, Spain, and Portugal to coordinate private-sector collaboration ahead of the World Cup. The tri-national group will design a roadmap to ensure the tournament delivers long-term economic and social benefits. The first Morocco-Spain-Portugal Business Forum will be held in Rabat in early 2026, bringing together business leaders to explore partnerships that support sustainable growth and regional integration. Backing Britain THE UK government has launched a ‘Back British’ consultation to ensure defence contracts with overseas suppliers create UK jobs, skills, and investment. Announced by Defence Minister Luke Pollard, the plan would require foreign contractors to use UK firms and manufacturing, strengthening supply chains and boosting SME participation in the national Defence Industrial Strategy. Bankinter profits BANKINTER reported net profits of €812 million through September 2025, up 11 per cent year-on-year, driven by strong lending and investment growth across Spain, Portugal, and Ireland. The bank said its finances remain strong, with solid capital levels, low bad loans, and continued cost efficiency, reflecting a healthy and stable balance sheet. Telefónica Tech threats TELEFÓNICA TECH identified 82 million cybersecurity events in Spain during the first half of 2025, according to PRNoticias. The company used its upgraded Aristeo platform which analyses industrial (OT) system threats. Although lower than 2024’s 313 million, the new version groups related hacker actions into single, more complex attacks instead of counting each step separately. Without this update, the figure would reach 369 million, up 17.9 per cent year-on-year. Aristeo uses real industrial equipment as decoys to attract hackers and study their behaviours, helping companies find weak points before they are attacked. The system also classifies threats using MITRE’s international framework, with most detected cases involving brute-force RDP login attempts. Digital pound THE Bank of England has published a new design note outlining how a future digital pound could use “aliases” – such as phone numbers or simple IDs – to make payments easy and secure. No decision has yet been made on launching a digital pound. Pandora Spain PANDORA’S Iberia director, Aurélie Alexandre, told Fashion Network that Spain is one of the brand’s fastest-growing markets. From Madrid, she plans to strengthen Pandora’s image beyond its famous charms, expand its Evoke store concept, and grow El Corte Inglés partnerships. View all finance news. View all news from Spain. View all UK news.