Spain's Telefonica posts record 2010 net profit

 Spain's Telefonica posts record 2010 net profit: "Spanish telecoms giant Telefonica posted Friday a record 2010 net profit of 10.17 billion euros, a 30.8 percent jump over the previous year as weakness in Spain was offset by strong growth in the rest of Europe and Latin America.
Revenues rose 7.1 percent over the previous year to 60.7 billion euros ($83.6 billion) as the company added clients and its mobile data business grew as customers upgraded to smartphones, the company said in a statement"

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Two held on the 'Costa del Crime'

Two held on the 'Costa del Crime'"suspected criminal from Exeter thought to have been hiding from police on the 'Costa del Crime' has been arrested, sources said.

Crime-fighting charity Crimestoppers and the Serious Organised Crime Agency (Soca) said that Dean Lawrence Rice, 49, from an earlier batch of individuals wanted under a drive to round up suspects, was arrested at 9am British time on Wednesday in the town of Alhuarin, by Spanish police.

This followed the arrest on Monday evening of Everardus Wijtvliet, 39, who was held on Monday evening in Puerto de la Cruz, Tenerife. He was in the latest batch of wanted individuals sought under Operation Captura, designed to find suspects believed to be on the run in Spain.

Exeter-born Rice had been convicted in his absence and sentenced to life imprisonment for conspiracy to kidnap and false imprisonment. After the victim resigned from working for him he was abducted on March 15 2006 in London.

Dutch national Wijtvliet is accused of organising the importation of illegal drugs into Britain. One consignment included a lorry driven into Dover in 2009, carrying 106kg of powder mixed with heroin and cocaine.


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UK Treasury 'to seize' Kadhafi's billions

UK Treasury 'to seize' Kadhafi's billions: "The government plans to seize billions of pounds in assets belonging to Libyan leader Moamer Kadhafi which include property and bank accounts, the Telegraph reported Friday.
The Treasury has set up a special unit to track down the assets which are believed to include a 10 million pound London home, the paper said."

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Libyan diplomat in Morocco resigns over unrest

Libyan diplomat in Morocco resigns over unrest: "The Libyan ambassador to Morocco and about 10 embassy staff announced Thursday that they had resigned, siding with the opposition to Libyan leader Muammer Gaddafi's regime, foreign ministry sources said in Rabat.

The Libyan diplomats were remaining in Morocco for the time being.

Their resignation followed the entry of about 20 anti-Gaddafi protesters into the Libyan embassy and consulate in Morocco's capital Rabat Wednesday.

The protesters tore the Libyan flag and pictures of Gaddafi, media reported. Libyan officials were present at the embassy, but no clashes or injuries were reported."

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Taiwan issues yellow travel alert for Morocco

Taiwan issues yellow travel alert for Morocco"Taiwan issued a yellow travel alert Tuesday for Morocco amid the political disturbances in the north African country.

The yellow-level warning, the second-lowest in the Ministry of Foreign Affairs' four-color foreign travel advisory, advises tourists to travel with caution and reconsider their itineraries.

The ministry said that as Taiwan does not maintain any offices in Morocco, Taiwanese businessmen and tourists visiting the country should 'avoid going to places where demonstrations are taking place.'

Morocco has seen a series of violent protests from citizens demanding political reforms and a curb on the powers enjoyed by the monarchy."

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MOROCCO: King says not giving in to 'demagoguery' | Babylon & Beyond | Los Angeles Times

MOROCCO: King says not giving in to 'demagoguery' | Babylon & Beyond | Los Angeles Times: "Moroccan King Mohammed VI said he would not give in to 'demagoguery' a day after thousands of people took to the street to demand he give up some of his powers to a newly elected government.

The monarch, speaking after he chaired a ceremony for the long-awaited appointments of members of a social and economic council, said that building an effective democracy should go hand in hand with sustainable human development.

The remarks were carried by Morocco's official MAP news agency."

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Holiday insurance company Essential Travel has warned travellers that they must “keep abreast” of the situation in Morocco or face losing their travel insurance.

Holiday insurance company Essential Travel has warned travellers that they must “keep abreast” of the situation in Morocco or face losing their travel insurance.

Commenting on the increasing unrest across the Middle East and North Africa, Stuart Bensusan of EssentialTravel.co.uk urged holiday makers to be be vigilant.

"Further to the widespread civil unrest across the Middle East and Northern Africa, protests have now spread to Morocco, including the popular city of Marrakesh,” he said. “Although we understand that there is less chance of a full scale uprising in the area, we would still advise passengers due to travel to keep abreast of this fast moving situation.”

His warning came as five burned bodies were discovered in a bank which was set alight following anti-government demonstrations in Morocco on Sunday in a town in the north of the country.

Analysts have said that Morocco has a successful economy with an elected parliament and a reformist economy, making it less likely to suffer a major uprising, and the Foreign Office currently has no travel restrictions in place.

However, Bensusan warned travellers to watch the Foreign Office website closely for a change in advice. “Consumers need to listen and adhere to the advice given by the Foreign Office as travel insurance does not cover anybody travelling to an area once it has been deemed unsafe.”

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Massive lizard found in Málaga garden

Massive lizard found in Málaga garden: "A carnivorous lizard Lagarto Carnívoro
which measures 1.2 metres long has been captured by the Local Police in Málaga, while it was walking through the gardens of an urbanisation in the city in the Arroyo Toquero area.

It was the urbanisation gardener who called the police who think that someone may have had the animal as a pet, and that it had been abandoned or escaped.

The lizard has a muscular body, strong legs, powerful jaws, claws, sharp teeth and a forked tongue. It will devour any animal it can get inside its mouth."

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Search continues for British man buried in Spain avalanche

 Search continues for British man buried in Spain avalanche: "Over 130 soldiers took part Monday in a search for a British man who was buried in an avalanche a day earlier in Spain's Sierra Nevada mountain range, the defence ministry said.
The battalion of 133 soldiers, backed by four sniffer dogs and 21 vehicles, will remain in the area until Friday, the ministry said in statement.
The 42-year-old, identified by media reports as John Hogbin, a British father-of-one who lives in Spain, was hiking with two friends on Sunday when the avalanche buried them in the Barranco San Juan area.
His two companions, both 43-year-old Spaniards, were able to climb out from under the snow on their own and suffered only minor injuries.
The company that runs the ski resort, Cetursa, had warned that heavy rain on Saturday night after huge snowfall earlier in the week, meant there was a 'very high' risk of an avalanche."

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Spain’s Small Banks hold an enormous £84bn in bad assets

Spain’s cajas hold £84bn in bad assets | City A.M.: "SPAINISH savings banks are holding around €100bn (£84.3bn) “potentially problematic” real estate assets, according to the country’s central bank.
The figure, which for the first time puts a material sum on the extent of the holdings by the unlisted regional banks, known as cajas, is as high as €217bn in total.
Governor of the Bank of Spain Miguel Ángel Fernández Ordóñez yesterday said the exposure did not endanger the country’s financial sector as a whole.
The Spanish government last week approved laws requiring unlisted regional banks to boost their capital reserves.
The law, which the cajas must show they have plans to conform to by September, will require listed banks to hold core capital levels of eight per cent and non-listed lenders to hold ten per cent.
Fernández Ordóñez added that the plan was “absolutely necessary.”
Spain’s central bank will publish an estimate of the financing needs for each caja next month."

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The OFT fake scratchcards ask 'Have you won a luxury holiday?' but when scratched warn consumers about a lengthy sales presentation and high costs for membership to a bogus holiday club.

A day of action is being held at airports in the UK and Spain to warn travellers about bogus holiday clubs and to inform them of new consumer rights.

The Office of Fair Trading is raising awareness at the start of February the school half term holidays.

It comes as OFT research found that almost 400,000 UK consumers a year fall victim to bogus holiday clubs at a cost of more than £1 billion.

The OFT and local trading standards officers are copying the tactics used by bogus holiday club touts by handing out fake holiday club scratchcards at airports including Bristol, Dundee, Gatwick, Manchester, Newcastle, Newquay and Stansted.

The OFT fake scratchcards ask 'Have you won a luxury holiday?' but when scratched warn consumers about a lengthy sales presentation and high costs for membership to a bogus holiday club.

The warning comes as consumers' rights across Europe are increased from Wednesday (February 23) to give people new protections if they do purchase membership to a holiday club."

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Region's Protests Spread to Morocco

Region's Protests Spread to Morocco - WSJ.com: "Thousands of protesters took to the streets in Morocco on Sunday to demand changes to the nation's constitution, defying predictions that this thousand-year-old monarchy would prove an exception to the demands for greater democracy that are sweeping the region.

Several thousand people rallied in Moroccan cities on Sunday demanding political reform and limits on the powers of King Mohammed VI, the latest protests demanding change that have rocked the region. 

In Rabat, the capital, a crowd of as many as 10,000 people marched through the streets chanting: 'Down with autocracy' and 'The people want to change the constitution,' as well as slogans against the government, corruption and state television.

Smaller crowds also gathered in Casablanca, the nation's business center. Video clips uploaded to Youtube overnight showed what purported to be groups of protesters in Tangier, Fes, Marrakesh and other cities Sunday, including several clashes with police and apparent vandalism."

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Expat rates: why offshore savers should avoid long-term fixed rates

Expat rates: why offshore savers should avoid long-term fixed rates - Telegraph: "While announcing that economic growth this year would be lower and that inflation could reach 5 per cent before June, the Bank’s governor Mervyn King revealed its projections for interest rates.
Although he said his announcement should not be taken as advance warning of rate movements, Mr King said that rates will rise a quarter point to 0.75 per cent in the next four months and to 1 per cent by the end of the year. The announcement added that by the end of 2012, rates will be at 2 per cent and at 3 per cent by the end of 2013.
Mr King said: 'It is clear that at some point Bank [of England] rate will have to go up. Anyone making long-term financial decisions should not expect Bank rate to be at these low levels indefinitely'.
That surely means don’t put your money in a long-term fixed rate, however tempting you might find the deals on offer. Michelle Slade of Moneyfacts says: 'All the indications are that the Bank of England will be raising interest rates sooner rather than later, with some analysts predicting more than one rise in base rate during 2011."

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Large peaceful protests in Morocco

 Large peaceful protests in Morocco: "Thousands of pro-democracy protesters are in the streets in Moroccan cities, and are so far proceeding peacefully. Unlike in other Arab countries, the protests in Morocco have been allowed.

Protests in Morocco, announced for today, are getting a large turnout all over the country, with the greatest protest marches in Rabat and Casablanca - the kingdom's capital and its largest city. But also minor cities are seeing protest marches, including Marrakech, Tangier, Fez and Al-Hoceima"

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King Abdullah 'to return to Saudi on Wednesday'

 King Abdullah 'to return to Saudi on Wednesday': "Saudi Arabia's King Abdullah is to return home this week after convalescing in Morocco from operations in New York, a source close to the oil-rich Gulf monarchy said on Sunday.
'The king is expected to return Wednesday and preparations are underway' to greet Abdullah, the official told AFP, requesting anonymity.
Another source said the heads of Saudi state media, especially television channels, have been instructed to begin from Tuesday to broadcast special programmes on the king's return.
The streets of Riyadh have already been decorated with national flags for the monarch's return.
Riyadh's ambassador to Rabat told AFP on Friday the king would soon return to his country. 'I was talking to him 15 minutes ago and I can assure you he is very well,' Mohammed ibn Abderrahman al-Bishr said.
King Abdullah, 86, arrived in Morocco on January 22 after surgery on his back in the United States and will return home to a Middle East rocked by anti-regime uprisings, although his own country has been spared.
In his absence, mass street protests led to the departure of Egypt's president Hosni Mubarak, Saudi Arabia's close ally whom the king has backed in a phone call from Morocco."

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Thousands of protesters took the streets in Morocco

Thousands of protesters took the streets in Morocco on Sunday to demand sweeping changes to the nation's constitution, defying predictions that this thousand-year-old monarchy would prove an exception to the demands for greater democracy that are sweeping the region.

In Rabat, the capital, a crowd of up to 10,000 people marched through the streets chanting: 'Down with autocracy' and 'The people want to change the constitution,' as well as slogans against the government, corruption and state television.

Morocco is one of the last of the so-called Maghreb countries of Northern Africa to take to the streets in the wake of the fall of Tunisia's president this year, and many analysts have predicted it would prove an exception."

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Marbella museum will feature ancient Roman collection

Marbella museum will feature ancient Roman collection | Olive Press Newspaper | News: "The items, which were found during the last excavation of the Rio Verde Roman Villa in 1990, come from the home of archaeologist Carlos Posac.
They were discovered when his daughter decided to give the home a full clean out.
“They appeared in a box when we were cleaning up,” explained Marilo Posac. “They clearly have far more value now than they did back then.”
The new museum, which will open at Cortijo Miraflores in April, will feature over 150 pieces from the prehistoric era onwards.
The collection will have a particular emphasis given to the Neolithic and Roman periods."

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EU tells Spain: give foreign retirees free medicine

EU tells Spain: give foreign retirees free medicine < Spanish news | Expatica Spain: "The European Commission took Spain to court Wednesday for refusing to grant pensioners from other EU countries who live temporarily in the country access to free medication.
European Union legislation gives pensioners who live temporarily in another EU country the same access to health care as retirees from their host country, if they present a European health insurance card.
The EU's executive arm accused Spain of discriminating against foreign pensioners by not granting them equal access to free medication, a right for retirees under Spanish law.
The commission decided to bring its case to the Luxembourg-based European Court of Justice, which could force Spain to modify its law.
'The Commission takes the view that Spanish rules are not in line with EU law as they discriminate against pensioners from other EU member states,' the commission said in a statement."

Green light for Marbella underground car park

"MARBELLA Town Hall has given the go-ahead to a project to create an underground car park in Avenida Severo Ochoa. The plans would also include a total refurbishment of the avenue, and due to the magnitude of the project, the town hall wanted to take it slowly and make sure that work wouldn’t have to stop halfway through due to the economic crisis, or not find a company which could run the premises.

So far, all that has been approved is a study to determine if the project is viable, and the draft for the construction and operation of the car park, which is estimated to cost €6.8m and provide more than 500 parking spaces to alleviate the problem for drivers in the town.

It is estimated the work will take 24 months, and could start in September this year.

It will have three floors, one of them destined for residents in the area."

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Spanish Air Safety Agency criticises Ryanair

Spanish Air Safety Agency criticises Ryanair: "ruling against Ryanair has come out of Spain where the Stage Agency for Air Safety, AESA, in a statement dated February 1, has agreed with a Málaga passenger of the airline, Carolina Martín Gámez, and considered that Ryanair took part in ‘an unjustified refusal of boarding’ for which the airline has to pay each passenger the cost of their ticket and pay each one compensation of 250 €.

The company has also been ordered to pay the costs of travel and accommodation derived from the refusal to board."

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