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Spanish police uncover nine tons of cocaine in record breaking bust

Spanish police have seized a record nine tons of cocaine concealed in a shipment of bananas from Colombia. Six people have been arrested after police found the drug hidden among boxes of bananas in a shipping container at the southern port of Algeciras. The stash was the largest ever found in a single shipping container in Europe. Such a haul ... Read More »

Spanish woman wins spy cam case over supermarket pasty

A Spanish judge has told a supermarket to reinstate a sacked worker or pay her €19,000 (£16,758; $22,636), arguing that secret video showing her eating a pasty had breached her privacy. A spy camera in the Córdoba shop had recorded the woman eating a pasty while serving customers, violating the rules. The woman, not named, was sacked in November, having ... Read More »

Asda-Sainsbury’s merger puts more than 2,500 jobs at risk, warns think tank

Up to 2,500 jobs in supply chains could be at risk from the proposed merger of Asda and Sainsbury’s, the New Economics Foundation has warned. According to analysis by the think tank, the promised price cuts – Sainsbury’s CEO Mike Coupe has pledged a 10 per cent reduction for consumers – will be passed onto suppliers. The NEF found that ... Read More »

Launch of first bottled fresh organic coconut water

MADRID: The Spanish company COCO WILSON has launched the only 100%, bottled, fresh organic coconut water on the market, produced from the exclusive Nam-Hom variety. This certified organic beverage, presented in a 240 ml format, is characterised by a unique, sweet and floral flavour and has the unparalleled health properties of coconuts, grown in the Thai region of Ratcchaburi. The ... Read More »

Spain praise strong ties look to boost bilateral trade

MADRID: The relationship between Turkey and Spain will be brought to a new level, while trade and investments will also be increased, Turkish Prime Minister Binali Yıldırım said yesterday. Yıldırım’s remarks came at the Nueva Economia Forum held in Madrid, Spain, where he arrived Tuesday on an official visit.The relationship between Turkey and Spain is increasing every year, the prime ... Read More »

Spanish cherry season delayed upwards of two weeks

MADRID: Spain’s leading cherry production regions are set for a season delay of 15-20 days in 2018, according to a release from the country’s Federation of Fruit, Vegetable, Flower and Live Plant Grower Exporter Associations (FEPEX). Following a meeting of the group’s Cherry Committee, representatives from the three main production regions – Extremadura, Aragon and Catalonia – indicated there would be ... Read More »

Madrid Hosts Spanish-Kazakh Business Forum

MADRID: Spanish Secretary of State for Trade Maria Luisa Poncela urged entrepreneurs on Friday to explore business opportunities in Kazakhstan, which she described as advantageous because of a “confluence of interests.” “Kazakhstan is a country with a development plan that includes several sectors in which Spanish technology is a world leader,” Poncela told EFE on the sidelines of a Spanish-Kazakh ... Read More »

Apricots arrive early amid unfair Spain competition

MADRID: Solédane apricots, from the Roussillon region, have matured in abundance this year, and have arrived early due to near-perfect weather conditions. They are described as large, nicely rounded, and full of sweet, sunshine-ripened flavour. More are expected from the Drôme, Vaucluse and Gard departments in the coming weeks. Yet, despite the good season, producers say that their crop is ... Read More »

A Sperm whale found dead in Spain had 30 kilos of plastic

MADRID: The sperm whale washed off the Murcia coast in Spain in February. Biologists have recently carried out an autopsy on the whale, and among other things, they’ve discovered plastic bags, a jerry can, several pieces of rope and net, and even a drum. The amount of human trash was enormous, reaching about 30 kilograms (66 pounds). As the experts from the ... Read More »

Vodafone Spain launches business oriented Infinity plans

MADRID: Vodafone Spain has unveiled a new range of cloud-based plans for local businesses under the name Vodafone Infinity. The company is looking to rival recent enterprise offers from Orange and Movistar and become a long-term technological partner of Spanish companies, be it SMEs or firms with more than 100 employees. The new Vodafone Infinity plans come with unlimited voice and personalised ... Read More »

Moody’s Raises Spain Rating One Notch on Improved Credit Profile

MADRID: Spain’s sovereign rating was raised one notch to Baa1 by Moody’s Investors Service, with a stable outlook, completing a full rating upgrade by all the main credit services. “Recent years have seen gradual, but increasingly sustainable, improvements to Spain’s credit profile. Much has been done to address the weaknesses in the banking sector that emerged during the financial crisis. ... Read More »

Moody’s upgrades Spain’s debt rating citing growth

MADRID: Moody’s on Friday raised Spain’s sovereign debt grade, citing improved growth prospects and a stronger banking sector. The upgrade reflects the government’s steps to “address the weaknesses in the banking sector” and an “increasingly balanced growth profile,” despite remaining “institutional weaknesses,” the agency said in a statement. The agency moved the debt rating up a notch to the upper-medium ... Read More »

Big business pushes Spanish government to pass climate change law

MADRID: Around 30 multinational and medium-sized companies have signed a declaration calling on Spain’s “public powers” to reach an agreement that would facilitate the “approval of a climate change law and a stable, ambitious and efficient” transition to green energy. Eleven firms listed on Spain’s principal stock exchange, the Ibex35, have backed the proposal: Abertis, Acciona, Bankia, BBVA, Endesa, Ferrovial, Iberdrola, Mapfre, Red ... Read More »

PPA signed for 170MW subsidy-free solar plant in Spain

MADRID: The fact that we can implement such a project without state funding is largely thanks to the continual improvement of system design and building costs,” said Benedikt Ortmann, managing director, BayWa r.e. Solar Projects GmbH. “Building one of the first subsidy-free solar projects of this size in Europe is a ground-breaking milestone; both for us as an international renewable ... Read More »

Spain to reduce online gambling taxes

MADRID: The Spanish authorities have proposed new tax cuts for a fast-growing online gambling industry. The Spanish online gambling market is projected to touch $1.22 billion by 2023. Cristobal Montoro, the Minister of Finance and Public Function, revealed the idea to the lower house of the Spanish Parliament during the draft budget presentation. The suggested tax cut, from the current ... Read More »

Italy biggest sunglass exporter to Iran

MADRID: Italy, with more than $1.56 million, was the biggest exporter of sunglasses to Iran during the 11 months to Feb. 19. Based on the latest data released by the Islamic Republic of Iran Customs Administration, a total of 157.20 billion rials ($4.66 million) worth of sunglasses were imported into Iran during the period, Mizan Online reported. Following Italy, other ... Read More »

Spain arrests whistleblower in HSBC tax evasion scandal

MADRID:  Spanish police say a former HSBC technology employee convicted for leaking data on a tax evasion scandal has been arrested in Madrid on an arrest warrant issued by Switzerland. French national Herve Falciani was sentenced in late 2015 to five years in prison for economic espionage. The Swiss court also convicted him for illegally obtaining data, breach of business ... Read More »

Government expects solar to dominate by 2030 with up to 77 GW

MADRID: Spain’s Ministry of Industry, Tourism and Digital Agenda has published a new report, including new growth scenarios for the future of the Spanish energy market, which recognizes solar as the future cheapest source of power, and the dominance of PV above all other energy sources by 2030. The first scenario, called the “distributed generation scenario” (DG), forecasts strong development of ... Read More »

Spain manufacturing growth eased in March

MADRID: Markit’s Purchasing Managers’ Index (PMI) of manufacturing companies stood at 54.8 in March, down from 56.0 in February. The index has held above the 50 line separating growth from contraction every month since November 2013.  While the sector’s growth was less in March than a month earlier, the first quarter still marked a strong start to the year, IHS ... Read More »

Spanish dealers arrested after antiquities from Libya seized

MADRID: Spanish police uncovered “numerous works of art” including seven mosaics and a sarcophagus, during raids carried out in five locations in and around Barcelona. The police said the works were stolen from archaeological sites in Libya’s eastern coastal re­­gion of Cyrenaica and northern region of Tripolitania. The police believe the two ancient art experts illegally bought works looted by ... Read More »