Wednesday , April 25 2018
Breaking News


Spanish cherry season delayed upwards of two weeks


MADRID: Spain’s leading cherry production regions are set for a season delay of 15-20 days in 2018, according to a release from the country’s Federation of Fruit, Vegetable, Flower and Live Plant Grower Exporter Associations (FEPEX). Following a meeting of the group’s Cherry Committee, representatives from the three main production regions – Extremadura, Aragon and Catalonia – indicated there would be ... Read More »

Madrid Hosts Spanish-Kazakh Business Forum


MADRID: Spanish Secretary of State for Trade Maria Luisa Poncela urged entrepreneurs on Friday to explore business opportunities in Kazakhstan, which she described as advantageous because of a “confluence of interests.” “Kazakhstan is a country with a development plan that includes several sectors in which Spanish technology is a world leader,” Poncela told EFE on the sidelines of a Spanish-Kazakh ... Read More »

Apricots arrive early amid unfair Spain competition


MADRID: Solédane apricots, from the Roussillon region, have matured in abundance this year, and have arrived early due to near-perfect weather conditions. They are described as large, nicely rounded, and full of sweet, sunshine-ripened flavour. More are expected from the Drôme, Vaucluse and Gard departments in the coming weeks. Yet, despite the good season, producers say that their crop is ... Read More »

A Sperm whale found dead in Spain had 30 kilos of plastic


MADRID: The sperm whale washed off the Murcia coast in Spain in February. Biologists have recently carried out an autopsy on the whale, and among other things, they’ve discovered plastic bags, a jerry can, several pieces of rope and net, and even a drum. The amount of human trash was enormous, reaching about 30 kilograms (66 pounds). As the experts from the ... Read More »

Vodafone Spain launches business oriented Infinity plans


MADRID: Vodafone Spain has unveiled a new range of cloud-based plans for local businesses under the name Vodafone Infinity. The company is looking to rival recent enterprise offers from Orange and Movistar and become a long-term technological partner of Spanish companies, be it SMEs or firms with more than 100 employees. The new Vodafone Infinity plans come with unlimited voice and personalised ... Read More »

Moody’s Raises Spain Rating One Notch on Improved Credit Profile


MADRID: Spain’s sovereign rating was raised one notch to Baa1 by Moody’s Investors Service, with a stable outlook, completing a full rating upgrade by all the main credit services. “Recent years have seen gradual, but increasingly sustainable, improvements to Spain’s credit profile. Much has been done to address the weaknesses in the banking sector that emerged during the financial crisis. ... Read More »

Moody’s upgrades Spain’s debt rating citing growth


MADRID: Moody’s on Friday raised Spain’s sovereign debt grade, citing improved growth prospects and a stronger banking sector. The upgrade reflects the government’s steps to “address the weaknesses in the banking sector” and an “increasingly balanced growth profile,” despite remaining “institutional weaknesses,” the agency said in a statement. The agency moved the debt rating up a notch to the upper-medium ... Read More »

Big business pushes Spanish government to pass climate change law


MADRID: Around 30 multinational and medium-sized companies have signed a declaration calling on Spain’s “public powers” to reach an agreement that would facilitate the “approval of a climate change law and a stable, ambitious and efficient” transition to green energy. Eleven firms listed on Spain’s principal stock exchange, the Ibex35, have backed the proposal: Abertis, Acciona, Bankia, BBVA, Endesa, Ferrovial, Iberdrola, Mapfre, Red ... Read More »

PPA signed for 170MW subsidy-free solar plant in Spain


MADRID: The fact that we can implement such a project without state funding is largely thanks to the continual improvement of system design and building costs,” said Benedikt Ortmann, managing director, BayWa r.e. Solar Projects GmbH. “Building one of the first subsidy-free solar projects of this size in Europe is a ground-breaking milestone; both for us as an international renewable ... Read More »

Spain to reduce online gambling taxes


MADRID: The Spanish authorities have proposed new tax cuts for a fast-growing online gambling industry. The Spanish online gambling market is projected to touch $1.22 billion by 2023. Cristobal Montoro, the Minister of Finance and Public Function, revealed the idea to the lower house of the Spanish Parliament during the draft budget presentation. The suggested tax cut, from the current ... Read More »

Italy biggest sunglass exporter to Iran


MADRID: Italy, with more than $1.56 million, was the biggest exporter of sunglasses to Iran during the 11 months to Feb. 19. Based on the latest data released by the Islamic Republic of Iran Customs Administration, a total of 157.20 billion rials ($4.66 million) worth of sunglasses were imported into Iran during the period, Mizan Online reported. Following Italy, other ... Read More »

Spain arrests whistleblower in HSBC tax evasion scandal


MADRID:  Spanish police say a former HSBC technology employee convicted for leaking data on a tax evasion scandal has been arrested in Madrid on an arrest warrant issued by Switzerland. French national Herve Falciani was sentenced in late 2015 to five years in prison for economic espionage. The Swiss court also convicted him for illegally obtaining data, breach of business ... Read More »

Government expects solar to dominate by 2030 with up to 77 GW


MADRID: Spain’s Ministry of Industry, Tourism and Digital Agenda has published a new report, including new growth scenarios for the future of the Spanish energy market, which recognizes solar as the future cheapest source of power, and the dominance of PV above all other energy sources by 2030. The first scenario, called the “distributed generation scenario” (DG), forecasts strong development of ... Read More »

Spain manufacturing growth eased in March


MADRID: Markit’s Purchasing Managers’ Index (PMI) of manufacturing companies stood at 54.8 in March, down from 56.0 in February. The index has held above the 50 line separating growth from contraction every month since November 2013.  While the sector’s growth was less in March than a month earlier, the first quarter still marked a strong start to the year, IHS ... Read More »

Spanish dealers arrested after antiquities from Libya seized


MADRID: Spanish police uncovered “numerous works of art” including seven mosaics and a sarcophagus, during raids carried out in five locations in and around Barcelona. The police said the works were stolen from archaeological sites in Libya’s eastern coastal re­­gion of Cyrenaica and northern region of Tripolitania. The police believe the two ancient art experts illegally bought works looted by ... Read More »

Spanish police break up people smuggling ring


MADRID: The Spanish Civil Guard, working in coordination with the European police agency EUROPOL, announced on Wednesday the arrest of 7 people in relation to a people smuggling organisation operating between Spain and the United Kingdom. In a statement, the Civil Guard said that the 7 people taken into custody were of Iraqi, Albanian and Spanish nationality and have been ... Read More »

Spain hikes growth forecast despite lack of a budget


MADRID: Spain’s government on Tuesday hiked its 2018 growth forecast to 2.7 percent from 2.3 percent previously as it unveiled an overdue budget draft for this year which it however lacks parliamentary support to adopt. The new prediction is a sign the Spanish economy remains unaffected by a political crisis in Catalonia which has unnerved investors and prompted hundreds of ... Read More »

Spain Spearheads Development of 5G Technology in Europe


MADRID: In an era of instant messaging, email and online streaming, the excitement over a phone call might seem a tad old-fashioned. However, this call represents a new, cutting-edge technology that has the potential to benefit not only the digital economy, but also society at large. With data-speeds that are 50 to 100 times faster than 4G, 5G technology will provide the ... Read More »

Spain issues international warrants for Catalan separatists


MADRID: A Spanish judge today issued international arrest warrants against Catalonia’s former president Carles Puigdemont and four others involved in the region’s independence movement, the Supreme court announced. Supreme Court judge Pablo Llarena, who is handling the case concerning Catalonia’s secession bid last October, issued the international and European arrest warrants for Puigdemont and four other former ministers who are in self-imposed exile in Belgium. An international warrant was also ... Read More »

Weather in Spain increased demand for Egyptian citrus


MADRID: The slow Spanish season, caused by adverse weather conditions in the area, has driven up the demand for Egyptian oranges”, says Omar. “There is an increase in demand from countries such as Ireland, Denmark and Poland.” Omar, Sales and Marketing Manager at this Rotterdam-based producer and importer of fruits and vegetables not native to the Netherlands, says Egyptian oranges ... Read More »