Thursday , February 21 2019
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Spain arrests 29 people for drug smuggling


Spanish police have arrested 29 people who they allege are involved in a drug trafficking ring. Spain’s Civil Guard says that their officers made the arrests on Tuesday after raiding several locations in the southern provinces of Cadiz and Malaga. Most of the arrests took place in the town La Linea de la Concepcion near the Iberia Peninsula’s southern tip. ... Read More »

Spain budget vote hinges on Catalan support

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Spain’s prime minister has acknowledged that it’s doubtful his government will be able to gain enough support to keep alive its attempt to pass a national budget. The minority Socialist-led government needs the backing of several parties, including Catalonia’s separatists, to steer its spending bill through an initial vote Wednesday. The separatists, and right-wing parties, have said they will vote ... Read More »

Russian billionaire seeks to buy Spanish supermarket group Dia

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Russian billionaire Mikhail Fridman has offered to buy Dia Group in a deal that gives the struggling Spanish supermarket chain an equity value of €417m, a deep discount from its €2.7bn valuation at the end of 2017. Mr Fridman’s holding company, LetterOne, which owns 29 per cent of Dia through its L1 Retail fund, has offered to purchase the rest ... Read More »

Spanish Port Authority Joins Blockchain Platform Developed by IBM and Maersk


The Port Authority of the Bay of Algeciras (APBA) has signed an agreement under which it will collaborate with IBM on its shipping platform Tradelens, Europa News reported on Jan. 21. Tradelens is a digital platform based on blockchain technology developed by both IBM and international shipping giant Maersk. Algeciras is one of the top 10 busiest ports in Europe, ... Read More »

Jaime Botin to stand trial for smuggling €26 million Picasso painting out of Spain


JAIME Botin, Bankinter’s boss, will be standing trial for smuggling a €26 million Picasso out of Spain in 2017. The picture was seized by the French authorities from Botin’s yacht in Corsica in 2017 although Botin insisted that he was taking it to Geneva, intending to store it at the Freeport warehouse complex. Instead Botin, brother of Emilio Botin – ... Read More »

Vodafone plans to cut up to 1,200 jobs from its Spanish business


MADRID: Vodafone (VOD.L) plans to cut up to 1,200 jobs from its Spanish business, the company said on Thursday, though it declined to give further details ahead of talks with labour representatives expected to begin at the end of the month. The telephone company said in November it planned to reduce its costs in Spain and Italy to respond to ... Read More »

Major Spanish bank opens Toronto outpost as trade ties deepen


One of the biggest banks in Spain has opened an outpost on Bay Street. CaixaBank SA announced Thursday that the new representative office in Toronto, its first in both Canada and the city, will offer support and advisory services in trade and corporate banking. It also makes CaixaBank the sole Spanish bank with a physical presence in Canada, the lender ... Read More »

Spain’s Parques Reunidos buys Ananda Krishnan’s company for RM1.07b


HONG KONG: Parques Reunidos Servicios Centrales SA, the Madrid-based entertainment park operator, has agreed to buy a tropical-themed resort in Germany for 226mil euros (US$256mil) or RM1.07bil. The Spanish firm reached an agreement with a holding company of Malaysian billionaire T. Ananda Krishnan to acquire Tropical Islands Resort, according to a Tuesday filing, confirming a Bloomberg News story. The deal ... Read More »

Spanish police smash ring smuggling Palestinians

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Police in Spain and France have smashed a criminal ring suspected of smuggling hundreds of Palestinians into Europe through fraudulent asylum claims, Spanish police said on Sunday. Officers arrested nine people, including the suspected leader of the network, in the two countries as part of the operation carried out with European police agency Europol, a Spanish police statement said. Police ... Read More »

IMF report calls on Spain to take action against high debt and deficit


The International Monetary Fund (IMF) has issued a report on Spain praising its economic recovery, but warning that “several downside risks are clouding the medium-term outlook.” In its annual report, known as the Article IV Consultation, the IMF notes that the Spanish economy is posting growth above the European average, creating jobs and achieving a more deleveraged private sector. But ... Read More »

Spanish police arrest alleged leader of drug-smuggling gang


Spanish police have arrested a man alleged to be one of the biggest drug-smugglers operating on the violence-ridden stretch of southern coast close to Gibraltar. The man, named in media reports as Antonio Tejón, is one of the two brothers who head the Castañas gang, which allegedly brings huge quantities of hashish over from Morocco on powerful speedboats. He was ... Read More »

Spain: Europe’s new cocaine gateway


The confrontational attitude of the drug gangs that traffic hashish in La Línea de la Concepción, in the south of Spain, has dominated news headlines and political agendas after a recent spate of drug-related violence plunged the Campo de Gibraltar area into crisis. But just 20 kilometers from Gibraltar, in the port city of Algeciras, huge amounts of cocaine are ... Read More »

Authorities Break Up One Of Spain’s ‘Biggest’ Hashish Drug Smuggling Rings


SPANISH authorities have broken up one of the ‘biggest’ hashish drug smuggling rings in the Campo de Gibraltar. It is estimated the drug ring brought more than 10,000 kilograms of hashish from Morocco to Spain. 12 people have been arrested, while €190,000 in cash was seized along with a gun, ammunition, a bulletproof vest and ‘high-end vehicles’. It comes after ... Read More »

Spain’s largest phone company tries to treat alcoholism, body disorders


In the heart of Barcelona’s burgeoning startup scene, about 70 people work on technology-centered solutions to problems that affect billions, such as alcoholism and electricity shortage. The cast includes entrepreneurs, specialists and a visual artist, but it’s not venture-capital backed. It’s Spanish phone carrier Telefonica SA’s answer to X, Alphabet Inc’s innovation lab. Known as Alpha, the former monopoly’s initiative ... Read More »

Texas Bullet Train developer names new operating partner


The developers of the Texas Bullet Train named international railway company Renfe as the train’s operating partner. The Spanish company brings more than 25 years of experience in operating high-speed trains in Europe and other countries. Renfe operates 5,000 trains daily on 7,500 miles of track, from local commuter routes to high-speed national and international travel, according to a news ... Read More »

Spain’s largest tobacco company acknowledges Gibraltar’s efforts to tackle smuggling


Gibraltar has for years taken an increasingly-tough line on tobacco smuggling and its efforts, much maligned by successive Spanish governments, received a nod from an unlikely source this weekend – Spain’s largest tobacco company. In an interview with Europa Sur newspaper, Rocio Ingelmo, the head of legal and corporate affairs at Altadis, acknowledged the measures taken by Gibraltar to tackle ... Read More »

Spanish bank rules out entry into Irish mortgage market


Spanish lender Bankinter has ruled out moving into the Irish mortgage market, at least in the short term. The news will dampen expectations that it would link up with An Post to offer cut-price loans to property buyers. And following an announcement from semi-State company last week that it wants to move into the mortgage market by undercutting the existing ... Read More »

Bank of Spain cuts growth forecasts on higher trade and political risks


MADRID: A slowdown in Spain’s main export markets, concerns over potential global trade disputes, a fragmented parliament and uncertainty over Catalonia prompted the Bank of Spain to cut growth forecasts to 2020. The central bank saw the Spanish economy growing by 2.6 percent this year, down from a previous forecast of 2.7 percent, and expected that to slow to 2.0 ... Read More »

Smugglers pave path for migrants from Africa to Europe

An aerial photo shows a boat carrying migrants stranded in the Strait of Gibraltar before being rescued by the Spanish Guardia Civil and the Salvamento Maritimo sea search and rescue agency that saw 157 migrants rescued on September 8, 2018.
While the overall number of migrants reaching Europe by sea is down from a peak in 2015, Spain has seen a steady increase in arrivals this year and has overtaken Italy as the preferred destination for people desperate to reach the continent. Over 33,000 migrants have arrived in Spain by sea and land so far this year, and 329 have died in the attempt, according to the International Organization for Migration. / AFP PHOTO / Marcos Moreno

They scale barbed-wire topped fences and cross the sea in inflatable boats or jet skis — more than 36,000 migrants entered Spain this year seeking a better life in Europe. Almost all of them relied on smugglers to make the crossing. Ousman Umar, who made a five-year journey from Ghana to Spain, said it was “impossible” to travel thousands of ... Read More »

Spain arrests seven for large-scale migrant smuggling operation


Spanish police have arrested seven individuals on suspicion of running a large-scale migrant smuggling operation. The individuals arrested were part of an organised crime group which is thought to have enabled the illegal entry into Spain of up to 300 irregular migrants, as part of a large-scale migrant smuggling operation which stretched from Francophone countries in Africa to France itself. ... Read More »