Wednesday , March 29 2017
Breaking News


Two arrested in Spain for smuggling cocaine in fake bananas


MADRID: Spanish police said Sunday they have arrested two men suspected of smuggling cocaine hidden inside fake bananas made of resin. The Guardia Civil police force said it made the arrests after agents in November found 7 kilos (15.4 pounds) of cocaine stuffed inside 57 fake bananas in a shipment of real bananas that arrived from South America in the ... Read More »

Spanish ports will lose cargo to other European docks just temporarily


MADRID: Over the last few weeks, Spanish businessmen’s concern has increased over the fact Spanish ports are becoming less effective due to the stevedore’s work-to-rule. According to business sources, currently it’s taking almost twice the amount of time to arrange a ship’s entrance into port, which also has direct consequences on the transport service. But the worse thing is not ... Read More »

Spain: Broccoli exports stabilizes


MADRID: The secretary of the consortium for the promotion of broccoli, Javier Bernabéu, has confirmed that the export of this vegetable, which accounts for 90% of the production, has already stabilized, and at a “very good price for the sector,” of about 50-60 cents per kilogram at origin. In a review of this campaign, he pointed out that the rains ... Read More »

Spain trade deficit rises 31.3% in Jan


MADRID: Spain’s trade deficit rose 31.3 per cent in January from the same period last year to 3.13 billion euros ($3.38 billion), the Economy Ministry reported on Tuesday. Spanish exports grew 17.4 per cent to a record high of 21.44 billion euros, while imports grew 19 per cent to 24.57 billion euros, according to Reuters. Read More »

Spain exported 9% more garlic in 2016


MADRID: The Spanish-French-Italian garlic contact group, made up of representatives from the French, Italian and Spanish sectors, will meet on 23 March in Sulmona, Italy, in order to analyse the results of the latest campaign, the prospects for 2017, as well as the regulations applicable to imports from third countries, among other topics. The group will analyse the development of ... Read More »

Spain garlic exports rises 9% in 2016


MADRID: The Spanish-French-Italian garlic contact group, made up of representatives from the French, Italian and Spanish sectors, will meet on 23 March in Sulmona, Italy, in order to analyse the results of the latest campaign, the prospects for 2017, as well as the regulations applicable to imports from third countries, among other topics. The group will analyze the development of ... Read More »

Spain and France conclude scheduled supply

France-and-Spain flags

PARIS: The French treasury taps the on the run 3 year OAT (0% Feb2020), on the run 5 year OAT (0% May2022) and off the run OAT (2.25% Oct2022) for a combined €6-7B. The bonds on offer cheapened slightly in ASW-spread terms going into the auction. The Feb2020 is rather cheap on the curve, the other OAT’s trade normal. We ... Read More »

Gestamp to list in €3.7b Spanish IPO


MADRID: Car parts maker Gestamp plans to float its shares in Spain in the largest European IPO so far this year. The business aims to sell at least 25 per cent of its shares according to an intention to float document filed on Monday morning, with an expected valuation of at least €3.7bn. Its shares will be listed on the ... Read More »

Morocco main supplier of fruits, vegetables for Spain: FEPEX


MADRID: The new data was released by FEPEX, the Spanish Federation of Associations of Producers and Exporters of fruits, vegetables, flowers and live plants, based on calculations from the Directorate of Customs. According to the same data, imports of Moroccan beans and fruits to Spain have increased a total of 221% in the last 5 years according to FEPEX. In ... Read More »

Spain: Frozen vegetable production up 8%


MADRID: The frozen vegetable industry continues to grow, with an 8% rise in production and a turnover of 690 million Euros in 2016, according to the Spanish Association of Manufacturers of Frozen Vegetables (ASEVEC). These data confirm the growth of a sector which has increased its production by 50% in just 10 years, from 457,768 tonnes in 2006 to 686,468 ... Read More »

Drug smuggling operation smashed by Policia Nacional


MADRID: Policia Nacional have dismantled a drug trafficking network, that was planning on bringing Cocaine into Spain. 24 people were arrested in a series of raids in Galicia, Madrid, Guadalajara and Guipúzcoa. 6 vehicles were also impounded believed to be used to carry the drugs around Spain. As well as the arrests, 2,400 kg of cocaine were also confiscated. One ... Read More »

Spanish police bust alleged smugglers bringing in African hash on fish boats


MADRID: Spain’s Civil Guard police force said on Sunday it had busted an alleged drug-smuggling gang on the Canary Island of Tenerife that was dedicated to introducing large quantities of hashish from Morocco aboard fishing vessels. A total of 1,753 kilograms (1.9 short tons) drugs were seized and nine people aged 18-35 years old of Spanish and Moroccan nationalities were ... Read More »

Spain Q4 GDP expands as estimated


MADRID: Spain’s economy expanded as initially estimated in the fourth quarter, final data from the statistical office INE showed Thursday. Gross domestic product grew 0.7 percent each in the fourth and third quarters after rising 0.8 percent in the second quarter. The fourth quarter rate matched preliminary estimate published on January 30. Year-on-year, growth slowed to 3 percent, in line ... Read More »

Spain: Trade unions and stevedores resume negotiations


MADRID: With the sector’s reform already approved by the Government and pending ratification in Congress, trade unions and stevedores have resumed their negotiations exactly a week before the start of the scheduled port strikes (on 6 March). The negotiations had been suspended last Wednesday at the request of the stevedores, whose main demands are the protection of the jobs of ... Read More »

Port of Valencia loses 32 million Euros because of dockers’ strike

Port of Valencia loses 32 million Euros because of dockers' strike

VALENCIA: The Port of Valencia is the main stage of the dockers’ conflict in Spain. Yesterday, dockworkers left the enclosure of Grao on the brink of collapse after stopping work for two hours to hold an informal meeting, stated the Stevedoring Society of the Port of Valencia (Sevasa). In addition, the main terminal operators -Noatum, APM and MSC- recorded losses ... Read More »

Man accused of smuggling 10kg of cannabis


MADRID: A man smuggled cannabis worth more than £100,000 into Devon inside the bodywork and spare tyre of his car aboard a ferry, a court has been told. Carlos Maldonado-Lopez, aged 36, from Spain brought more than 10kilos in of the drug from Santander on a Britanny Ferries ship, a jury was told. Border Force officers found the cannabis in ... Read More »

Ryanair chief issues air tax warning as new routes revealed


MADRID: Budget airline Ryanair has announced new routes from Glasgow to Poland and Spain. The services to the cities of Krakow and Madrid will take off late this year. However, the firm has also warned they could then be withdrawn in 2018 unless the Scottish Government cuts air tax. Ministers want to cut Air Passenger Duty (APD) by 50 per ... Read More »

Spain: Record-breaking horticultural exports in 2016

Spain: Record-breaking horticultural exports in 2016

MADRID: The value of Spanish fresh fruit and vegetable exports in 2016 increased by 5% compared to the same period of 2015, totaling 12,486 million Euro (and exceeding 12,000 million for the first time), according to data released this week by the Ministry of Economy, Industry and Competitiveness and processed by FEPEX. The volume fell by 2% down to 12.5 ... Read More »

Mega drug bust in Madrid by Guardia civil


MADRID: Working with the US Homeland Security executive, officers of the Guardia Civil have arrested an individual from the Dominican Republic and seized 166 kilos of cocaine as well as more than €400,000 in cash. The operation began in late 2016 when the Guardia Civil became aware of two suspects who it was believed were involved in large scale smuggling ... Read More »

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 »