Spain Lost $51 Billion Foreign Portfolio Investment to November

 Spain lost 38.6 billion euros ($51 billion) of foreign portfolio investment in the 11 months through November, as the sovereign debt crisis pushed more foreign investors to exit Spanish markets. The outflow from securities such as bonds and equities accelerated from 24.1 billion euros in the first 11 months of 2010, the Bank of Spain said in an e-mailed statement today. Spain’s current account deficit narrowed to 36.2 billion euros in the period from 45.8 billion euros a year earlier, the central bank said. The People’s Party government, in power following a general election on Nov. 20, is trying to convince foreign investors it can fix public finances and kick-start the shrinking economy. Spain’s 10-year borrowing costs have fallen to 5 percent from more than 6 percent at the end of...

Read more »

Posted in: Spain Lost $51 Billion Foreign Portfolio Investment to November

TONY Blair agreed to a secret deal to hand Gibraltar over to Spain, claims a former cabinet minister.

DISCLAIMER:Text may be subject to copyright.This blog does not claim copyright to any such text. Copyright remains with the original copyright holder In a sensational new book, Peter Hain insists that he and Jack Straw struck a joint sovereignty deal with the Spanish government in 2002 after being given the green light by the former Prime Minister.In his memoirs, Hain reveals that Blair was keen to win the support of Spain in order to strengthen his hand in Europe.The former Europe Minister also accused Gibraltarian leaders of being stuck in the past, while he describes Blair’s attitude towards the Rock’s inhabitants as ‘contemptuous’.The deal was scuppered following resistance from Spanish ‘hardliners’ who insisted on full sovereign...

Read more »

Posted in: .TONY Blair agreed to a secret deal to hand Gibraltar over to Spain,claims a former cabinet minister.

former Europe Minister revealed Mr Blair sanctioned the deal because he wanted to win the backing of the Spanish government

DISCLAIMER:Text may be subject to copyright.This blog does not claim copyright to any such text. Copyright remains with the original copyright holder. Deal: Gibraltar has been a British overseas territory since 1704The former Europe Minister revealed Mr Blair sanctioned the deal because he wanted to win the backing of the Spanish government – then led by Jose Maria Aznar – to help Britain take on France and Germany in EU negotiations.The agreement was only shelved when what he called 'hardliners' in the Spanish government – who wanted only full sovereignty – objected. More...An insult to every working family: Labour, bishops and Lib Dem peers derail plan to cap benefits Blow for Boris as poll puts Ken Livingstone ahead in race to be London...

Read more »

Posted in: former Europe Minister revealed Mr Blair sanctioned the deal because he wanted to win the backing of the Spanish government

Huaxi: The socialist village where everyone is wealthy

 The sort of oxen you expect to see in Chinese villages tend to be pulling carts or tilling fields, not a beasts made of a ton of gold. This precious cow is located on the 60th floor of a 328m-tall skyscraper in Huaxi, China's richest village, and building that juts out of the eastern landscape like a giant tripod topped by a golden ball. Huaxi is a "model socialist village", according to local officials, and was founded by local Communist Party secretary Wu Renbao in 1961. His foresight was to transform a poor farming community into a super wealthy community, built on its clever adaptations of modern agribusiness methods, then its diversification into steel mills, its logistics firms, and its textile businesses. The commune listed on the stock exchange in 1998 and is now a major corporation...

Read more »

Posted in: Huaxi: The socialist village where everyone is wealthy

British driver arrested after Sevilla hit and run

 23 year old Briton has been arrested in Campillos, Málaga, by the Guardia Civil in connection with a hit and run accident at a petrol station in Gillena Sevilla last Thursday. A petrol station worker was injured and had to be admitted to the Virgen del Rocio Hospital, and the driver failed to stop. The Briton lives in Campillos and has been named with the initials W.A.F., and has been taken to Sevilla to attend the court which has charge of the case. By chance a member of the public had seen a TV report on the wanted driver and recognised him coincidentally at a petrol station in Campill...

Read more »

Posted in: British driver arrested after Sevilla hit and run

Bad news for foreign victims of Costa del Sol mortgage scam

 The National Court will not be investigating the mortgage fraud which was reported last year by twenty foreign residents of the Costa del Sol and which affected victims all along the Spanish coastline. Most of the banks and foreign financial advisors involved were from Denmark who informed their clients that, if they died without a mortgage on their Spanish property, their heirs would be subject to hefty inheritance taxes which they would never be able to pay. They were then offered a mortgage on their property, with the money invested outside Spain, mainly in Luxembourg. El Mundo reports that the investments did not however go well, and the victims are now in danger of losing their homes. The Málaga victims are represented by the Marbella law firm Lawbird, who told El Mundo, ‘This...

Read more »

Posted in: Bad news for foreign victims of Costa del Sol mortgage scam

Court orders Spanish woman to return her children to her husband in the UK

 Spanish woman resident in Valencia, named by EFE as Carolina A.G., has been ordered by a local court to return her children to their father in the UK, where the family moved in 2008. Her estranged husband is a Nigerian man who obtained Spanish nationality after they married in Spain in 2003. The couple has three children, now aged 8 and 5 years old and, the youngest, just 4 months. Their mother says she has suffered abuse from her husband throughout her marriage, and she finally reported the abuse last year. She also reported him for rape. She told the EFE news agency, ‘I feared for mine and my children’s lives … he has also mistreated the eldest and he even punched me in the stomach when I was pregnant with my last child.’ She decided to return to Spain after he threatened to take...

Read more »

Posted in: Court orders Spanish woman to return her children to her husband in the UK

Days of the Costa del Crime could soon be over

 THE days of the Costa del Crime could be seriously numbered. Or at least, so say the Spanish police. Detectives in Malaga have revealed that a year-long crackdown on British and Irish fugitives is paying off and Malaga is no longer an ideal hideout for wanted criminals. The clampdown, which came in a series of on-the-spot raids on pubs, bars and shops on the Costa del Sol, has drawn considerable success. In total, dozens of wanted fugitives have been caught in the raids after six roving teams of national police were set up at the end of 2010. The teams entered establishments closing off exits and demanded identification from all those present. In one day alone, last year, they made a staggering four arrests, while in total 117 Irishmen were arrested last year, using the method. The moves...

Read more »

Posted in: Days of the Costa del Crime could soon be over

Ciudad de la Luz film studios in trouble in Alicante

 Another of the large projects in the Valencia region is in trouble as the company which runs the Ciudad de la Luz film studios in Alicante, Agua Amarga de Gestión S.L., has applied for bankruptcy protection. It comes as the regional government has failed to pay four million € as the promoter of the project. Mercantile Court 2 in Alicante accepted the application on December 16 2011. The centre has amassed a total debt of more than 190 million €, and now the Valencia Government wants to privatise the operation despite spending 160 million € on it. The project was an idea of Eduardo Zaplana, an ex Partido Popular President of the Valencia Government who thought it would compensate the city for the Terra Mítica park in Benidorm. The studios cover a 320,000 square metre site. El País...

Read more »

Posted in: Ciudad de la Luz film studios in trouble in Alicante

Iberia pilots announce more strike action

 Pilots from the SEPLA union who work for Iberia have announced three more days of strike action on January 25, 27 and 30. It follows four days of previous action in protest at the plans by Iberia to establish a new low-cost carrier, Iberia Express. SEPLA say that they have picked the dates with care, so as not to affect the Spanish tourism fair, FITUR, which runs in Madrid between the 18th and 22nd of this month. Meanwhile cabin crew and ground staff are also considering taking action, and are reported to be looking at striking on Mondays and Fridays from February 2. A meeting will be held on Tuesday to confirm that action which could affect 21,000 workers on the ground in handling, cargo, maintenance, trade and operational activiti...

Read more »

Posted in: Iberia pilots announce more strike action

The Decree to regularize houses in Andalucia

 According to Hillen “It’s possible that this fireworks display will dazzle some but if you look at the detail of the Decree you will see that it does not help those with ongoing court proceedings, where perhaps the majority could face the chop”. “If what the Junta wants is more cases like the Priors, the decree certainly does nothing to prevent that” she added. “Actually, I sometimes despair at how little the administration is in contact with the real problems of its citizens. They must know that what looks nice on paper is not always workable in practice. It appears that they don’t and all they want to do is inundate us with a byzantine tangle of laws and, whilst they are about it, completely destroy foreign investment in Spain”. Hillen asks “What shall I tell elderly retirees who...

Read more »

Posted in: The Decree to regularize houses in Andalucia

Government to bring in changes to the 'Ley de Costas'

 The current and controversial ‘Ley de Costas’ has been in force since 1988 with hardly any modifications. Now the new Minister for Agriculture, Foodstuffs and the Environment, Miguel Arias Cañete, has indicated that ‘very deep reforms’ are on the way to bring value to the coast. El País reoprts that at an event to welcome top civil servants in his department, he gave a speech which indicated that the environment cannot stop economic development, and said that environmental legislation needs to be simplified. Sources at the ministry have noted that there is a problem of judicial insecurity with the current legislation and that they have received pressure from countries such as Britain and Germany, and complaints from EuroMPs as there are foreigners who have been affected by the compulsory...

Read more »

Posted in: Government to bring in changes to the 'Ley de Costas'

Extra Virginity: The Sublime And Scandalous World of Olive Oil, not all virgins are as pure as they might seem — and the world of olive oil is increasingly beset with fraud, smuggling and even poisoning.

According to Tom Mueller, author of a new book on the subject, Extra Virginity: The Sublime And Scandalous World of Olive Oil, not all virgins are as pure as they might seem — and the world of olive oil is increasingly beset with fraud, smuggling and even poisoning.The problem is that where there’s money, there’s crime, and olive oil is a very valuable commodity. Olive oil is graded into several different types for sale, the most common of which is extra virginIn July, Spanish police arrested the leader of a gang responsible for the theft of more than a million litres of the stuff, siphoned from storage tanks in Murcia, and shipped under false paperwork to Italy for sale. Italian newspapers regularly report producers being robbed...

Read more »

Posted in: Extra Virginity

SHIP AGROUND: COAST GUARD CONFIRMS 3 DEAD

 At this time, 3 people are confirmed dead in an accident involving the cruising ship Costa Concordia. The ship left Civitavecchia for Savona yesterday at 7:30 PM and ran aground near the Isola del Giglio. According to Coast Guard sources, the situation is still confused. The ship has been boarded by Coast Guard rescue personnel, firefighters and a Costa officer and checked top to bottom to confirm that everybody has been evacuated. A portion of the passengers was taken on other vessels to Porto Santo Stefano while other went to Livorno by helicopter. The cause of the accident has not yet been ascertained. The grounded ship suffered a blackout just before running aground. ....

Read more »

Posted in: SHIP AGROUND: COAST GUARD CONFIRMS 3 DEAD

'Six feared dead' and thousands evacuated as cruise ship hits rocks off coast of Italy

 Holidaymakers from France, Italy, Germany and Britain were forced to flee the 1,500-cabin Costa Concordia in lifeboats when it hit a reef less than two hours after leaving port. Some leapt overboard and swam to shore as the ship started to sink into the waters near the island of Giglio, off the Tuscan coast. Francesco Paolillo, the coastguard spokesman, said that at least three bodies were retrieved from the sea and at least three more were feared dead. Pregnant women and young children were among the 3,200 passengers and 1,000 crew on board. Passengers' dinner on Friday night was interrupted by a loud boom at around 8pm and a voice over the loud-speaker system initially claimed that the ship was suffering an electrical failure, before ordering everyone on-board to don life-jacke...

Read more »

Posted in: 'Six feared dead' and thousands evacuated as cruise ship hits rocks off coast of Italy

Two air passengers met by police over heated bust up after teenager 'reclined his seat'

 A furious row broke out between two passengers on a packed jumbo jet after one reclined his seat as the man behind was about to eat. The pair almost came to blows at 40,000ft as shocked travellers looked on. It started when an 18-year-old sitting in economy class moved his seat back to sleep. Air rage: The drama happened on board an Emirates 517-seat Airbus A380 - the world's biggest commercial airliner - from Dubai into Manchester Airport The 38-year-old passenger sitting immediately behind him was about to eat his in-flight meal at the time. And when he asked the youth to put his seat back up while he ate a major row broke out.   More... Airline passenger is stunned three times with a Taser gun after after he refuses screening check and runs into secure area Car-sized...

Read more »

Posted in: Two air passengers met by police over heated bust up after teenager 'reclined his seat'

Gold treasure trove and millions in cash seized from Colombian drug dealers in Spain

 A National Police operation has seized more than 4 million € in cash and a treasure trove of gold ingots from a group of drug traffickers based in the north west of Madrid which was finalising a deal to sell off half a ton of cocaine. Three suspects from Colombia have been arrested, who also face charges of money laundering. The Interior Ministry said in a press release on Tuesday that the drugs were brought into Spain by air and the laundered proceeds from their sale were then sent to Colombia in the same way. Police began their investigations last month and swooped on the luxury apartments which were used by the gang early on the morning of January 5, seizing more than 3.5 million € and three kilos of highly pure gold. The gold was made up of ingots each weighing a quarter of a kilo....

Read more »

Posted in: Gold treasure trove and millions in cash seized from Colombian drug dealers in Spain

Suspect arrested over woman found murdered in Fuengirola

 An arrest has been made in the case of the woman who was found dead, wrapped in plastic and a blanket, beneath a bridge in Los Boliches, Fuengirola, on Monday morning. She was identified as E.U.G, a woman who was born in Almería in 1980. She is believed to have been killed last Saturday, two days before her body was found. The autopsy has now confirmed the cause of death as asphyxiation, and it’s understood there were also signs that she had been hit on the head. There was no sign of rape, or that any of her personal possessions had been stolen. All that’s known on the suspect is that he was known to the victim. La Opinión de Málaga said he was arrested in Fuengiro...

Read more »

Posted in: Suspect arrested over woman found murdered in Fuengirola

AIFOS boss now admits paying Juan Antonio Roca

 Another twist in the Malaya case with the owner of the real estate promoter, AIFOS, Jesús Ruiz Casado, telling the court on Wednesday that, despite his declaration on Tuesday that he had never made any payments to the Marbella Municipal Real Estate Assessor, Juan Antonio Roca, that in fact he did make the payment ‘of some amounts’ through his commercial director, Francisco García Lebrón. Casado explained that he had found a 135,000 € mismatch in a report on the accounts of his company which had been presented to the Court, and that there was a 90,000 € coincidence with the notes in the computer archives of Juan Antonio Roca. He said he told his commercial director to make a payment to support the Town Hall sponsorships and fiestas. ‘I did not control this matter sufficiently’, he said...

Read more »

Posted in: AIFOS boss now admits paying Juan Antonio Roca

the secret of the Costa del Sol got out to the world, in a big, big way

 .The mid-Andalusian coastline began to lure Northern European types, weary of their long, dark winters and eager to bask in the region's ever-present sunshine. First came the super-rich and famous (think Audrey Hepburn, Cary Grant, and Laurence Olivier), after Prince Alfonso of Hohenlohe-Langenburg opened the aristocratic Marbella Club in 1954. The demi-rich and B celebs followed, and gradually the masses—as is their wont—caught wind of the fun and sun, subsequently descending in droves. Through it all, the gays came too, establishing their beachhead at Torremolinos in the 1960s and 70s. Unfortunately, the switch from sleepy-fishing-village-dotted seashore to frolicksome touristic playground proved too rapid for the area to bear seamlessly. Unsavory types like on-the-lam Brits, the...

Read more »

Posted in: big way,in a big,the secret of the Costa del Sol got out to the world

Undercover agents with the U.S. Drug Enforcement Administration, working with their Mexican counterparts, helped transfer millions of dollars in drug cash and even escorted a shipment of cocaine via Dallas to Spain

 The covert activities were undertaken as part of an operation to infiltrate and prosecute a major Colombian-Mexican narco-trafficking organization moving cocaine from Colombia to Mexico and the United States. The undercover operation, detailed in Mexican government documents obtained by the New York Times, first came to light via a Monday dispatch by Times reporter Ginger Thompson. The documents "describe American counternarcotics agents, Mexican law enforcement officials and a Colombian informant working undercover together over several months in 2007," Thompson reported. "Together, they conducted numerous wire transfers of tens of thousands of dollars at a time, smuggled millions of dollars in bulk cash—and escorted at least one large shipment of cocaine from Ecuador to Dallas to Madrid."...

Read more »

Posted in: Undercover agents

Switch to olive oil for better health

 Indian households should completely switch to olive oil as a cooking medium as its nutritional value is very high, it is rich in monounsaturated 'good' fats and, when used daily, can bring instant and easy wellness to a family's diet, celebrity chef and noted cookery expert Nita Mehta says. "Even though we have such a wide range of olive oils in our market, people don't seem to use them because of their mental block that the flavour of olive oil doesn't gel with Indian flavors," Mehta said at the launch here Satuday her latest book, "Indian Cooking With Olive Oi...

Read more »

Posted in: Switch to olive oil for better health

Trial begins in giant Spanish corruption scandal

 top Spanish former official went on trial Monday at the start of legal proceedings into a raft of corruption scandals in which King Juan Carlos' son-in-law is also accused. Jaume Matas, the ex-head of the regional government of the Balearic islands who had also served as environment minister, appeared at a court in Palma de Majorca alongside three other suspects. They have been charged with embezzlement, fraud, falsifying documents and influence peddling. Matas was charged in March 2010 and was released after paying a record bail of 3.0 million euros ($3.8 million). Prosecutors are demanding an eight and a half years jail term. Matas served as president of the government of the Balearic Islands between 1996-1999 and then between 2003-2007. He was environment minister between 2000-2003....

Read more »

Posted in: Trial begins in giant Spanish corruption scandal

Santander Chairman Botin, Brother Lose Appeal in Spain Tax Case

 Banco Santander SA Chairman Emilio Botin lost a bid at Spain’s National Court to block three groups’ ability to file complaints against him over accusations he broke national tax laws by hiding funds in Switzerland. Appeals by Botin, his brother Jaime Botin and other people contesting a November decision to allow the complaints by the three groups were rejected, the Madrid-based court said today in a ruling sent by e-mail. In Spain, any citizen can make a so- called popular accusation in legal proceedings even if they are not directly involved in the matter. The court said in June it would investigate Botin and 11 family members after tax officials received information on clients at HSBC Holdings Plc’s Swiss private bank from French authorities. The Botin family, in a statement distributed...

Read more »

Posted in: Brother Lose Appeal in Spain Tax Case,Santander Chairman Botin

Spanish Home Sales Decline for the Ninth Straight Month as Economy Shrinks

 Spanish home sales declined in November for a ninth month as the economy contracted and unemployment surged. The number of transactions fell 14.4 percent from a year earlier, the National Statistics Institute in Madrid said in an e-mailed statement today. Prime Minister Mariano Rajoy, the People’s Party leader whose government took over from the Socialists on Dec. 22, has said he will restore a tax rebate for the purchase of homes to spur the market as a 23 percent unemployment rate weighs on demand. Spain is struggling to work through an excess of 700,000 new homes after the collapse of a building boom saddled banks with 176 billion euros ($225 billion) of what the Bank of Spain calls “troubled” assets linked to real estate. Spain’s economy contracted in the final months of 2011 as...

Read more »

Posted in: Spanish Home Sales Decline for the Ninth Straight Month as Economy Shrinks