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Border force officer suspected of smuggling drugs and guns

  MADRID: A British Border Control officer was revealed to be one of four men, all British nationals, that were arrested near Calais for their involvement in an international crime gang smuggling drugs and guns to UK shores. The Mail Online reported that on Friday 6th October, a joint operation between both sides of the channel made 12 arrests and ... Read More »

Amount of contraband from Gibraltar in Spain nearly double

  MADRID: The amount of contraband tobacco from Gibraltar in Spain has nearly doubled in the last year, according to a study carried out by IPSOS, and commissioned by the Spanish tobacco company Altadis. The study was based on the identification of discarded cigarette packets across Spain. At the third National Anti-Smuggling Congress in Madrid, the statistics were made public, ... Read More »

Spain’s multiplay services market forecast to 2021

  MADRID: The report provides holistic historical and future prospects of Multiplay Services Penetration, Blended Service Adoption and Revenue Generating Units split at service levels – Mobile Subscriptions, Mobile Broadband Computing Subscriptions, Pay TV Households, Fixed Broadband Households and Fixed Voice Telephony Households from 2012 to 2021. “Spain’s Multiplay Services Market Dynamics to 2021: Multiplay and Blended Services Adoption, RGU’s, ... Read More »

COSCO SHIPPING Ports Ltd (1199) moved up 0.12% on Oct 3

  MADRID: Shares of COSCO SHIPPING Ports Ltd (HKG:1199) last traded at 8.7, representing a move of 0.12%, or 0.01 per share, on volume of 624,270 shares. After opening the trading day at 8.77, shares of COSCO SHIPPING Ports Ltd traded in a close range. COSCO SHIPPING Ports Ltd currently has a total float of 3.03 billion shares and on ... Read More »

Ormonde sinks to tiny interim loss amid “Major Progress” in Spain

  MADRID: Ormonde Mining PLC on Thursday said it turned to a tiny pretax loss in the first half of 2017 as revenue fell and administrative costs rose, with the miner continuing to progress toward commissioning its flagship asset in Spain next year. The company said revenue in the first six months of the year dropped to EUR375,000 from EUR500,000, ... Read More »

Investor friendly tax treaty set for Mexico, Spain

MADRID: A Tax Treaty developed to avoid double taxation, negotiated between Mexico and Spain in late 2015, was just recently published in the official gazettes of both nations. The new protocols are effective September 27, 2017. The Result: The most significant changes relate to withholding tax rates and the exemption from capital gains taxes in certain instances. The changes should ... Read More »

Spain’s tax free sales increase 4%

MADRID: Tax Free Shopping (TFS) sales remained positive in the month of August, although growth slowed according to Global Blue, while Russian and American shoppers continued to contribute strongly to sales. A combination of macro factors combined to temper sales, including a strong Euro and the high base of comparison in August 2016. Nevertheless, European tax free shopping spends continued ... Read More »

Spain’s producer price inflation accelerates in August

MADRID: Spain’s producer price inflation increased in August, figures from the statistical office INE showed Monday. Producer price inflation accelerated to 3.2 percent in August from 3 percent in July. Excluding energy, producer prices gained 2.1 percent after rising 2 percent in the previous month. Among components, energy prices showed the biggest annual increase of 6 percent, followed by a ... Read More »

Spanish police raid Catalan government to halt banned referendum

  MADRID: Spanish police raided Catalan government offices and arrested officials on Wednesday to halt a banned referendum on independence, an action the regional president said meant Madrid had effectively taken over his administration. Hundreds of protesters gathered outside the regional government offices in the center of Barcelona’s tourist district, waving the red-and-yellow Catalan flag and chanting “Occupying forces out” ... Read More »

Falcao to plead guilty to tax fraud in Spain

MADRID: Falcao, who now plays in the French league for Monaco, was accused of not properly declaring around €5.6m earned in image rights between 2012 and 2014. The striker will plead guilty to the charge, taking sole responsibility, a source on his legal team said, confirming reports in Spanish newspaper El Mundo. Falcao paid €8.2m to the Spanish authorities in ... Read More »

Cumbernauld woman faces drug smuggling charges in Spain

  MADRID: A Cumbernauld woman has been arrested in Spain after police swooped on an alleged drugs smuggling ring. Stephanie Morgan (25) a former beautician is one of 12 Britons who were arrested after being accused of supplying drugs to clubbers in the Punta Ballena district of Magaluf. The arrests which also involve two non-British suspects were made last Thursday ... Read More »

France, Germany, Italy, Spain seek tax on digital giants’ revenues

  MADRID: France, Germany, Italy and Spain want digital multinationals like Amazon and Google to be taxed in Europe based on their revenues, rather than only profits as now, their finance ministers said in a joint letter. France is leading a push to clamp down on the taxation of such companies, but has found support from other countries also frustrated ... Read More »

Catalonia pushes Spain toward crisis

MADRID: The battle for Independence by the wealthy Spanish state of Catalonia hit crisis point on Friday as the country’s Constitutional Court, Spain’s highest legal authority, suspended the vote planned for 1 October. The central government called the move an attack against Spain’s and Catalonia’s institutional order. Although the decision was widely expected, Carles Puigdemont, the regional president, said that ... Read More »

China helps drive Spain’s wine exports

  MADRID: Spain’s wine exports in the first half of the year have reached a record high to €1.3207 billion, up by 6% over the same period, driven by strong demand from China. According to a report by national newspaper El País, the increase in export values is a result of a hike in the average price of exported wine ... Read More »

Bunzl’s first half revenues and profits grow

  MADRID: Bunzl has been expanding its business through acquisitions and expects this strategy to support continued growth delivery truck. Distribution and outsourcing company Bunzl PLC said it has completed its first acquisition in China as it reported growth in first half revenues and profits. Bunzl has bought Shanghai-based HSESF, which sells personal protection equipment, bringing the number of acquisitions ... Read More »

Spain: economy grows by 3.1% in Q2

  MADRID: The Spanish economy has now enjoyed almost four straight years of growth following a 0.9% increase in GDP in the second quarter and 3.1% in the last 12 months, according to the National Accounting figures published by the INE [National Statistics Institute]. This means the rate of growth has increased by one-tenth in both the annual and the ... Read More »

Spanish honey production drops

  MADRID: Honey production in Spain dropped 4.08% last year, the country’s agriculture ministry warned. A decline in bees, which pollinate between 5% and 8% of global food production, poses a serious threat the food chain. The drop in honey production breaks the growing trend that started in 2012, according to the annual report on economic indicators published by Spain’s ... Read More »

Concentrating solar power market size to reach $8.92b

MADRID: The global concentrating solar power market is predicted to reach USD 8.92 billion by 2025, according to a new report by Grand View Research, Inc. Increasing awareness about renewable energy along with government regulations to control growing carbon footprint is further propelling the market growth. Increasing clean energy adoption over non-renewable fuels is expected to drive the global concentrating ... Read More »

Spain’s Tamesol breaks into Turkish market bagging 37 MW of projects

MADRID: As an exclusive partner of Tamesol, Arevo Enerji Sanayi Ve Ticaret AS will be responsible for the import of the Spanish manufacturer’s solar panels through Turkey’s ports of Mersin, Istanbul and Izmir. Under the agreement signed between the two parties, Arevo will initially import 130,000 units of Tamesol’s solar PV modules for several projects that add up to 37 ... Read More »

Guardia Civil Association calls for fast launch ban in Spain

MADRID: The Spanish Guardia Civil Association has called for a ban on fast launches of the kind used for drug smuggling, citing Gibraltar as an example where this has worked well. The AEGC issued a statement calling for the creation of a permanent elite unit, to better tackle what they called the “dangerous” drug trafficking gangs that work in the ... Read More »