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Spain

Jailed Catalan leaders ease position on post-election coalition talks

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BARCELONA: Four Catalan leaders on trial over a 2017 bid to split their region from Spain have said separatists should be more flexible about entering negotiations on forming the next Madrid government after a April 28 national election. Socialist Prime Minister Pedro Sanchez is forecast to win the most seats in the vote, but could need Catalan separatists’ backing to ... Read More »

Spanish economy set to keep growing despite global uncertainty

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The Bank of Spain on Wednesday issued its projections for the Spanish economy to 2021, and warned that any government that comes out of the April 28 election should prepare the public accounts for a potential downturn. Despite a global slowdown, particularly in the euro zone, the Spanish economy remains “notably dynamic,” said the supervisor in its quarterly report. While ... Read More »

‘Carlyle agrees to buy 30 percent stake in Spain’s Cepsa’

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Private equity firm Carlyle Group LP has agreed to buy a 30 percent stake in Spanish oil and gas company Cepsa from an Abu Dhabi sovereign wealth fund in a $3.6 billion deal including debt, the Financial Times reported on Sunday, citing people with knowledge of the transaction. The sale gives the business a total enterprise value of $12 billion, ... Read More »

Spain Tops Global Health League But All Is Not Well For Expats

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A WORLD health index has declared Spain to be the fittest nation on the planet. Last year the University of Washington’s Health Metrics Institute ranked the country second in its healthy nations league. Now another major rating agency, the Bloomberg Healthiest Country Index, has gone one better and placed it top of its rankings. The index classifies nations according to ... Read More »

Spain received record-breaking 4.2 million tourists

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The tourism boom continues unabated in Spain. The month of January set a new historical record for both tourist arrivals and spending: nearly 4.2 million visitors came to Spain, a 2.2% rise from the same month last year, and they spent a total €4.7 billion, 3.6% more than in January 2018. The strong January figures come on the back of ... Read More »

Spanish economy set to keep growing despite global uncertainty

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The Bank of Spain issued its projections for the Spanish economy to 2021, and warned that any government that comes out of the April 28 election should prepare the public accounts for a potential downturn. Despite a global slowdown, particularly in the euro zone, the Spanish economy remains “notably dynamic,” said the supervisor in its quarterly report. While exports have ... Read More »

Iberdrola starts work on $340 million Spanish solar plant

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Spanish utility Iberdrola has commenced work on a 500-megawatt (MW) solar photovoltaic power plant in Badajoz, Spain. The facility, Iberdrola’s first photovoltaic plant in Europe, will use 1.5 million panels spread across a 1,000-hectare site. The company will invest around 300 million ($340 million) euros in the development. Set to be fully operational by 2020, the Núñez de Balboa plant ... Read More »

‘Carlyle in final talks to clinch $3.4 billion deal for Cepsa stake’

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Private equity firm Carlyle Group is ahead of other contenders to buy a 30 percent stake in Spain’s Cepsa for up to 3 billion euros ($3.4 billion), just four months after owner Mubadala shelved a listing of the energy company, three sources familiar with the matter. Carlyle, whose energy and natural resources division includes funds such as Neptune Energy, could ... Read More »

Spain received record-breaking 4.2 million tourists in January

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The tourism boom continues unabated in Spain. The month of January set a new historical record for both tourist arrivals and spending: nearly 4.2 million visitors came to Spain, a 2.2% rise from the same month last year, and they spent a total €4.7 billion, 3.6% more than in January 2018. The strong January figures come on the back of ... Read More »

Spain & Britain ink Gibraltar tax deal ahead of Brexit

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A fiscal treaty regarding disputed Gibraltar has been signed by Spain and Britain. Hailed as “massively significant” by Gibraltar’s leader, it is part of a deal sealed in November between London and the EU on Brexit. The deal must now be approved by the Spanish cabinet and ratified by the parliaments of both countries. Gibraltar’s leader Fabian Picardo said the ... Read More »

Britons face five-hour airport queues in Spain with no-deal Brexit

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British tourists to Spain could face airport queues of five hours or more after a no-deal Brexit, according to analysis by Which?, and the consumer group suggests travellers should take food, water and even nappies to survive prolonged delays. Alicante airport, which serves Benidorm and other Costa Blanca resorts, is likely to be the worst-affected airport, and Which? said visitors ... Read More »

Spain-Morocco Railway Tunnel Talks Underway Government Says

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TALKS to build a Morocco-Spain railway line are underway, a government minister has said. “We have been working for years with Spain for the continental railway line between the two countries and we are now in the process of deepening technical studies,” Morocco’s Transport Minister Najib Boulif said. The official revealed that Spain and Morocco could complete the necessary research ... Read More »

Police intercept cargo ship smuggling €100 million worth of cocaine into Spain

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A DRUGS network has been smuggling cocaine into Spain on cargo ships, police revealed after a 15-month investigation. A ship carrying a 3.3-ton consignment of cocaine with a €100 million street value was recently intercepted almost 288 kilometres off the Portuguese coast and escorted into Setubal harbour. Here, the Guardia Civil and Policia Nacional officers, together with officials from tax ... Read More »

Spain arrests 29 people for drug smuggling

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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

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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

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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

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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

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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 »