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Spain

Spanish dried fruit and nut sales see 7th year of growth

Dry Fruits1

MADRID: Sales of dried fruit, nuts and snacks have grown in Spain for the seventh consecutive year, showing a slight acceleration in 2016, according to sectoral analysis company, Observatorio Sectorial DBK de Informa. At the close of 2016, provisional sale figures were €2.2 million, 4.3% more than 2015. The dried fruit and nut segment had the most positive performance, achieving ... Read More »

Solar tax slows green energy in Spain

SPAIN

MADRID: When Carlos Ibánez installed solar panels on his roof, he figured it was good for the environment and easy on his pocketbook. But now he regrets the thirty thousand dollar investment after the government has imposed a tax increase on solar energy, in a country renowned for its sunshine. Read More »

10 arrested in joint Spain,Morocco anti-trafficking op

SPAIND

MADRID: Ten people have been arrested in a joint Spanish-Moroccan police operation to dismantle a human smuggling network across the Strait of Gibraltar, Spanish police said Tuesday. Seven of the alleged traffickers were arrested in Torreveja on the western coast of Spain. The network is said to have also smuggled at least 39 Nigerian women to work as prostitutes in ... Read More »

Llorente & Cuenca reports 12.5% rise in revenue in 2016

SPAIN

MADRID: Spanish-owned comms agency Llorente & Cuenca has reported a 12.5 per cent rise in revenue in 2016 to €33.8m (£28.7m, $36m), although growth was significantly higher when excluding the impact of currency fluctuations. The group, which has around 500 employees working primarily in Spain, Portugal, and Latin America, said growth would have been 20.8 per cent without taking into ... Read More »

Spain intends to strengthen ties with Azerbaijan

SPAIN

MADRID: Spain is interested in further developing its relations with Azerbaijan. The Spanish Foreign Ministry announced about this it its message on the 25th anniversary of the establishment of the diplomatic bilateral relations between the countries. “The Spanish Government aims at further deepening of ties with Azerbaijan, both at the bilateral level and within international institutions, in particular in the ... Read More »

Spain-Jordan signs agreement to strengthen economics ties

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MADRID: A forum to strengthen economic partnership between Jordan and Spain opened this week, according to a statement. Representatives of public and private sectors from both countries are participating in the forum in a bid to strengthen joint business relations. On the sidelines of the forum, the Amman Chamber of Commerce and Amman Chamber of Industry signed a cooperation agreement ... Read More »

Spanish export chains to be disrupt by docker strike

Spanish Port

MADRID: Key export chains in Spain could face major disruption if a long-running dispute between the government and the country’s dock workers extends beyond a planned three-day strike next week. According to details, the standstill will take place every other hour on Feb. 20, 22 and 24 at dozens of Spanish ports which employ more than 6,000 stevedores and handle ... Read More »

EC urges Spain to raise “green” taxes in transport, energy

SPAIN

MADRID: Brussels asks Spain, in a report spread yesterday, to increase “green” taxes and to reduce subsidies damaging the environment. Besides, it asks the Spanish authorities to improve water and waste management, as part of the country’s main “challenges” in the implementation of the European environmental regulations. According to the document, the income from environmental taxes in the last decade ... Read More »

Man attempts to cross into Spain smuggled inside suitcase

SPAIN

MADRID: A Moroccan woman was caught trying to smuggle a 19-year-old man across the border with Spain curled up inside a suitcase. The Spanish Civil Guard arrested the woman in Ceuta, one of Spain’s two enclave bordering Morocco, on December 30th. The 22-year-old was caught after border guards observed her “acting suspiciously” as she waited in line to cross the ... Read More »

Convergence drives Vodafone revs in Spain

SPAIN

MADRID: Vodafone has added subscribers in every telecoms business in Spain thanks to convergence, and has seen a 4.1% revenue increase in Q4 2016. During the final three months of 2016, the British telco added 78,000 pay-TV subs, reaching 1.28 million households and consolidating as the market’s second largest player after Telefónica’s Movistar+. According to the company, subscriber numbers have ... Read More »

Spain’s recorded music market grew in 2016

SPAIN

MADRID: Spain’s recording industry registered moderate growth for the third year in a row in 2016 as the digital business surpasses the physical market for the first time. The market earned €163.7 million from the sale of music last year – up 1.67%, or just €3.5m, on 2015. In 2014, Spain’s recorded music market was up 11% and in 2015, ... Read More »

Spanish bank BBVA records 32% jump in net profits

SPAIN

MADRID: BBVA beat analyst expectations with a 32 per cent jump in full year net profits, despite political and currency turmoil in Mexico, the bank’s most important market, and a one-off charge linked to mortgage mis-selling in Spain. Spain’s second-largest lender by value earned €3.48bn over the course of 2016, up from €2.64bn the year before. The increase was the ... Read More »

Spain should deepen structural reforms: IMF

spain

MADRID: Spain should make the most of its economic recovery to press on with structural reforms, the International Monetary Fund said on Monday, adding measures were needed to tackle “painfully high” unemployment and remove red tape for small companies. “Political fragmentation and reform fatigue have delayed fiscal adjustment and impeded deeper structural reforms,” the IMF said in its final Article ... Read More »

Spain looking into claim of Catalonia tax data piracy

SPAIN

MADRID: Spain’s state prosecutor’s office said Friday it was looking into claims that the separatist government in Catalonia had illegally obtained Catalonians’ tax records. The announcement came in response to a series of conferences held since November by Santiago Vidal, an outspoken Catalan senator and staunch proponent of independence for the region. Vidal had claimed that Catalan officials wanted to ... Read More »

Granada exports 18% more cherimoyas to EU

SPAIN

MADRID: The province of Granada’s cherimoya exports to the European Union have increased by 18 percent in the first four months of the 2016-17 harvest season. According to data from the Centre for Technical Assistance and Inspection of Foreign Trade (Soivre), a body under the Ministry of the Economy, more than 1.55 million kilos of the fruit had been exported ... Read More »

Brazil plans flexible iron ore royalty rate of 2-4%

brazil

BRASÍLIA: Brazil’s government plans to introduce a bill to set a flexible royalty rate for iron ore that would be between 2 percent and 4 percent depending on international prices for the steelmaking raw material, Broadcast reported on Thursday. The current iron ore royalty rate is 2 percent. In an interview with Broadcast, the real-time news service of newspaper Estado ... Read More »

Polish police bust suspected drug gang

SPAIN

MADRID: The suspects were detained by officers from the Central Bureau of Police Investigation (CBŚP) based in Szczecin, north-west Poland. The bureau said officers found clues about the activities of an organized crime gang in early 2016. A probe found the gang was smuggling drugs from Spain to Poland, where they were sold. The money is believed to have been ... Read More »

Oman to reduce budget deficit through innovative solutions

oman

MUSCAT: The Omani government recently announced the budget plan for 2017, that factored in a deficit of OMR3 billion. The shortfall has not quite reached earlier expectations, and we still need to find ways to reduce it. These include supplementing traditional methods such as austerity measures, removal of subsidies, and caution while approving government spending with innovative solutions. However, we ... Read More »

Iberostar sees revenue rise in 2016

SPAIN

MADRID: Spanish hotel chain Iberostar saw turnover increase to €2.03 billion for 2016, up ten per cent on the previous year. Its international presence, which extends to 30 countries, and its ongoing commitment to quality are the key factors behind these excellent results, the company said in a statement. Iberostar celebrated its 60th anniversary last year, while also completing the ... Read More »

Rising oil prices threaten Spain’s economic growth model

SPAIN

MADRID: For more than three years, Spain’s inflation rate has been below the euro-zone average and even lower than that of Germany, the bloc’s most competitive country. Over this period, the Spanish government has consistently pushed the line that employment creation in the country has been the result of this low inflation rate, and while it may be a coincidence, ... Read More »