Friday , November 17 2017
Breaking News


Spanish police use diggers to uncover £23m of cocaine


  MADRID: This is the moment police force their way into an underground hideaway to discover part of the historic cocaine haul in an operation involving the arrest of three British men. The three Brits were held following the 1.2 tonne coke find described as ‘one of the largest drugs seizures ever on Spanish soil.’ Video shows police using shovels ... Read More »

Mourinho settles tax case in Spain


  MADRID: Manchester United manager Jose Mourinho says he has paid to settle accusations of tax fraud in Spain. The 54-year-old attended court in Pozuelo de Alcarcon on Friday to answer charges of tax fraud totalling €3.3million, which he has always denied. Speaking to reporters after the hearing, Mourinho said “the case is closed” and that he only attended to ... Read More »

DNA lab to be set up in Port of Spain


  MADRID: Government is in the process of inviting tenders for equipment to outfit the DNA lab which is expected to come on stream by year’s end. The DNA lab is expected to be housed at the ABMA building at St Vincent Street, Port-of-Spain and staff are being recruited. A DNA regulator from Jamaica has already been contracted to oversee ... Read More »

Spanish exports to morocco increased by 16.3%


  MADRID: Spanish exports to grew by 16.3 percent between January and August 2017 compared to the same period in the previous year, according to the latest figures from the Spanish Institute of Foreign Trade (ICEX) report for 2017. The Spanish institute said that the increase in exports to Morocco were some of the most important Spanish outflowsfor the first ... Read More »

Spain joblessness falls to nine-year low amid Catalan crisis

business confidence fall

MADRID: Spanish unemployment fell to a nine-year low in the third quarter, providing some good economic news for the government as it tries to get a grip on the political crisis in Catalonia. The rate declined to 16.4 percent from 17.2 percent in the previous three months, Spain’s Statistics Institute said Thursday. That’s the best reading since the end of ... Read More »

Spain lags but markets shrug off Ophelia


  MADRID: Spanish stocks lagged behind a broadly-flat European market on Monday as the Catalonia crisis and a profit warning from renewables energy firm Siemens Gamesa weighed. Spain’s main IBEX share index fell 0.7pc while the pan-European STOXX 600 benchmark added 0.01pc, staying near the four-month highs hit last week as optimism over global growth offset growing political worries. “Spanish ... Read More »

COSCO SHIPPING Holdings Co Ltd rises 0.99% on Oct 14


  MADRID: Shares of COSCO SHIPPING Holdings Co Ltd (HKG:1919) last traded at 4.1, representing a move of 0.99%, or 0.04 per share, on volume of 31.16M shares. After opening the trading day at 4.05, shares of COSCO SHIPPING Holdings Co Ltd traded in a close range. COSCO SHIPPING Holdings Co Ltd currently has a total float of 2.58B shares ... Read More »

Quiz revenue leaps as online surges


  MADRID: Fast fashion brand Quiz has reported a 35% rise in group revenue, in its first update since its flotation in July. Group revenue grew to £56.1m in the six months to 30 September compared with the same period last year, the brand said in a pre-close trading update today. Group online revenue across both the brand’s own website ... Read More »

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 »