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Online gaming grows 50% during 2Q 2016 in Spain

MADRID: Online gaming grew by more than 50% year-on-year in Spain in the second quarter of 2016. In figures released by the Dirección General de Ordenación del Juego (DGOJ) for the three months to June 30, the nation’s gross gambling revenue (GGR) increased by 56.3% compared to the same period in 2015 to €98.8 million. However, the figure was around ... Read More »

Spain’s paper industry surges 2.6% in 2015

MADRID: “2015 is the business year when Spain’s paper industry has begun to recover”, writes Aspapel, the association of Spanish pulp, paper, and board manufacturers, in its report on the development of the paper industry last year. Paper and board output in the country in 2015 grew year-on-year by 2.6%. The figure is highest among the six largest paper-producing countries ... Read More »

Spain’s ports strengthen economy

MADRID: The smartphone in your pocket or the computer you use at home probably entered Spain by ship, forming part of the huge number of products that are loaded and unloaded in the country’s ports, which, according to figures for this year are set to break all records for passenger and goods traffic. If the first half of this year’s ... Read More »

Spanish police seize drugs worth $2.46m

MADRID: Spanish authorities arrested 23 members of an alleged Polish drug trafficking gang, seizing more than a ton of hashish and property worth nearly €2.2 million (US$ 2.46 million). The operation involving Danish, French and Polish police, and coordinated by Europol, ensnared 12 Polish citizens, as well as seven Spanish suspects, two Ukrainians, a Lithuanian and German, who were either ... Read More »

USDA predicts record corn production of World Agricultural Supply

MADRID: The USDA has released the August edition of its World Agricultural Supply and Demand Estimates report, forecasting corn production will reach a record 15.2 billion bushels, up 613 from the July projection. According to the WASDE report, the season’s first survey-based corn yield forecast, at 175.1 bushels per acre, is up 7.1 bushels from August’s trend-based projection and above ... Read More »

Gang with 100kgs drugs arrested through Channel tunnel

MADRID: Nine Brits are among 22 people arrested in raids across the UK and Spain as police claim they have broken up a major smuggling ring. According to Spanish police the gang came to the UK to steal vehicles, take them back to Barcelona to “cool off”, before filling them with marijuana and cocaine and driving them back to Britain. ... Read More »

Lemon harvest increases 22% in Spain

MADRID: The first lemon harvest estimate by AILIMPO for the upcoming 2016/2017 campaign points to a production in Spain totalling 980,000 tonnes, an increase of 22% compared to last season, which will come to an end in late August with an approximate production totalling 802,680 tonnes. With this data, the sector returns to the path of normality, with a harvest ... Read More »

Inalsa plans to meet Rs 2.5b target by 2020

MADRID: Home appliances maker INALSA is aiming to be a Rs 250-crore company in next four years on the back of product expansion and extension of sales network in the South and East zones. INALSA plans to meet the Rs 250 crore target through new product launches and increased presence on e-commerce platforms . The company, which was founded in ... Read More »

Spain’s arms exports increase 15% with Saudi Arabia in 2015

MADRID: Spain’s arms exports grew by 16.1% last year, with the bulk of non-European sales going to Saudi Arabia. According to statistics from the Ministry of Commerce, the government sold €3.7 billion worth of arms in 2015, with the Saudi Kingdom taking almost 15% of all sales. Together with Oman, Bahrain, Emirates, Qatar and Kuwait, Spain’s arms exports to the ... Read More »

Spain becomes largest pork exporter in Europe: AHDB Pork

MADRID: Spain now has the largest pig herd in Europe and a pork export trade which continues to grow strongly, according to a new country analysis by AHDB Pork. Based on the latest census figures, Spanish sow numbers increased by 5% in 2015 while total herd numbers rose by 7%. That puts the country’s sow herd at 2.45 million head ... Read More »

Spanish navy arrests two suspected human trafficker

MADRID: Spain’s defense ministry says a Spanish navy vessel has arrested two men suspected of being human smugglers in waters near the Libyan coast. The defense ministry says two Libyans were arrested during an operation by the Spanish frigate “Reina Sofia” to rescue 362 migrants attempting to cross the Mediterranean Sea. The warship turned the two over to Italian authorities, ... Read More »

Spanish defence exports up 16% in 2015

WASHINGTON: Spanish exports of defence, security and potential dual use materiel registered a year on year increase of 16.1% in 2015 to EUR3.72 billion according to the annual report released by the Secretariat of State for Trade. While still below the record figure of EUR3.9 billion set in 2013, the figures highlight a marked recovery from the 18% fall suffered ... Read More »

Telefonica revenue earnings down in 2Q

MADRID: Spanish telecom giant Telefonica S.A. TEF reported weak financial results in the second quarter of 2016. Quarterly net income decreased a substantial 54.5% year over year to €693 million (approximately $783 million). Moreover, second-quarter earnings per ADR (American Depository Receipt) came in at 15 cents, down 48.3% year over year. Telefonica recorded total revenue of €12,723 million (roughly $14,369 ... Read More »

Hudson Global revenue declines 7.9% in Q2

Hudson Globsl posted second quarter revenues of $113.1 million, down 7.9 percent from a year ago. However, revenue rose 4.1 percent on a constant currency basis when excluding the company’s Americas IT business, which it sold to Mastech Holdings last June; its Netherlands business, which it sold to Inter Balance Group BV; and the Ukraine, Czech Republic, Slovakia and Luxembourg ... Read More »

Spain’s housing sales increase by 23.6 pct in May

MADRID: Spain’s housing sales increased by 23.6 percent in May when compared with the same month of a year earlier, according to data released on Friday by Spain’s Statistical Office (INE). The growth rate is lower than that of April, when housing sales increased by 29 percent year-on-year. Spain’s housing sales have been rising for four consecutive month year-on-year. The ... Read More »

EU to make decision on Spanish budget-breach penalties after election

MADRID: EU will hand down a decision on Spain and Portugal’s budget violations after general election. The two countries received year-long extensions from the Brussels-based European Commission last year to get their finances in order. However, the commission’s Vice President Valdis Dombrovskis told the European Parliament ‘there are no plans to postpone those decisions further’. He cited the commission’s obligation ... Read More »

Largest ever seizure of illegal tobacco in Spain

MADRID: In a joint investigation between the Guardia Civil and the Tax Office under the codename ‘Rosa’, two people have been arrested and a plant producing ready to smoke tobacco has been closed in what is described as the largest seizure of its kind in Spain to date. Working with the Association of Tobacconists in Granada who had been heavily ... Read More »

Spanish tax authorities search Google’s Madrid offices

MADRID: Spanish tax inspectors searched the offices of Google here, the latest in a series of tax investigations throughout Europe targeting the search firm. Inspectors swept into the company’s headquarters in an office tower, as well as a campus it maintains in the Spanish capital, people familiar with the case said. Investigators were looking for “possible evidence of taxation in ... Read More »

Brits spent over €1 billion in Spain in April

MADRID: Brits are spending more money in Spain than ever before. In fact, more than €1.1 billion was splashed by British tourists on Spanish soil in April alone. It represents a 14% monthly increase as the Brits again top the list of biggest spenders. Other big contributors include the Germans (€823 million), while the French coughed up a total of ... Read More »

Spain, Brazil sign Customs cooperation agreement

MADRID: Spain and Brazil have signed a a joint declaration of cooperation on tax and customs matters, said Brazil’s Ministry of Finance. The two countries intend to cooperate by exchanging information, supporting the development of best practices, and providing technical assistance. The signing of the declaration comes shortly after Brazil ratified the Multilateral Convention on Mutual Administrative Assistance in Tax ... Read More »