Axarquia 16 – 22 March 2023 Issue 1967

Page 12

START YOUR ENGINES!

SPAIN’S government has finally announced that UK licence holders in the country will be able to exchange their driving licence for a Spanish one without taking an exam from Thursday, March 16.

The period to allow Brits already living in Spain to do this will be six months. Anyone moving to the country after March 16 will also be given six months.

Announced by the Council of Ministers on Tuesday, March 14, the news puts an end to travel misery for thousands of expats left in limbo after the Spanish government abruptly brought extensions allowing anyone who hadn’t exchanged their licence before December 31, 2020 to continue using their UK licence to an end last May.

Brits will now be able to ‘canjear’ (exchange) their UK licence with the DGT for a Spanish one. Existing category permissions (for example, ability to drive heavy goods vehicles or motorbikes) will also be honoured.

Spanish living in the UK will similarly be able to exchange their licences under the agreement.

The government’s statement said: “The Council of Ministers has approved this Tuesday the agreement by which Spain and the United Kingdom will offer reciprocal recognition

ATHLETES in Almuñecar are gearing up for some high­flying martial arts action at the upcoming World Kenpo Championship in Portugal. A team of six skilled Kenpo fighters, two coaches, and a referee ­ judge will be representing Spain in the competition which takes place from Wednesday, April 26 until Sunday, April 30.

Let’s Rock

THE British electronic rock band, Editors, clear influencers of the global post ­ punk scene, have confirmed their performance this summer at the Weekend Beach Festival Torre del Mar (Velez­Malaga).

Guitars, synthesisers and a lot of rhythm characterise the themes of this band that shakes up the tracks. Led by Tom Smith, they will perform for the first time at the Torreno festival, presenting the songs from their new album ‘EBM’.

In addition, the electro ­ house of Sunnery Jame & Ryan Marciano is also one of the surprises of this year. The

Dutch will turn the main stage of Weekend Beach into a big dance floor. Progressive house from this impeccable duo collaborating with artists like Steve Angello.

Reggae dancehall will not be missing in Torre del Mar because there is always a very special hole for this musical genre, this time the festival gets rid of the thorn from last year and resumes the pending performance with Tarrus Riley.

In addition, Rosa Pistola, born in Colombia and based in Mexico, defender of the roots of reggaeton, will add a lot of female colour to the varied line­up.

and exchange of driving licences as well as the exchange of information on traffic offences.”

The news means existing traffic offence information will also be exchanged between the two countries.

Those wishing to exchange their li­

cence can now contact the DGT directly to arrange an appointment to do so.

They will first need to check they have their relevant paperwork in order, including proof of residency, and take a short ‘psycho ­ physical’ test. This includes basic health tests (including eyesight, blood pressure) a psychological test and a mobility test.

Going global

Almuñecar Kenpo Club announced that six of its athletes would take part in the World Championships; Daniel Ramírez Muro, Brissa Vivar Delgado, Germán Ramírez Muro, Mario Estepa Montilla, Daniel Pagés Martínez, and Marcos García. All of the fighters have

been put through their paces in a pre ­ selection

phase at a Kenpo Centre in Madrid where only the very best were selected by a panel of judges to represent Spain in the global level competition.

These skilled fighters have been selected based on their impressive rankings and past achievements in national competitions. Team coaches Antonio Estepa and Miguel Rivas, and the referee ­ judge Miguel Cabrera, will be providing support to players in the challenge that lies ahead.

Kenpo is a modern martial art that combines elements of Chinese and Japanese martial arts and Western boxing.

AXARQUIA - COSTA TROPICAL • EUROWEEKLYNEWS.COM FREE • GRATIS Issue
1967 16 - 22 March 2023
No.
The Weekend Beach Festival is returning this summer. Kenpo fighters from Almuñecar are headed to Portugal for the World Championships in the modern martial art next month. Photo credit: Ayuntamiento de Almuñécar (via email) Image: Piotr Piatrouski / Shutterstock.com DRIVING LICENCE: UK holders can now exchange for a Spanish licence. Credit: EpicStockMedia/Shutterstock.com Credit: Yau Ming Low/Shutterstock.com

VELEZ­MALAGA is preparing to hold a traditional procession like no other! Registration opened for the town’s traditional ‘Tronillos’ parade which sees local children decorate miniature procession floats, like those used during Semana Santa, before carrying them around the town.

This year’s event is set to

Tronillos procession

take place on Saturday, April 1 and is a firm favourite with the whole community who turn out to view the intricately decorated floats and unusual designs.

In the lead up to the event, Velez­Malaga will also host the Monte Calvario ex­

hibition which depicts the crucifixion of Jesus Christ, created by the talented young artist Borja Soler. The exhibition will be open to visitors until the day of the parade, allowing visitors to discover more about traditional religious values.

The rules for participating in the parade are simple: each miniature float must be shorter than 70cm and must be carried by a maximum of 25 participants, with a maximum age of 12 years, with four supporting adults.

Registration is open until Tuesday, March 28. All are invited to enjoy the beautiful and unique event that captures the spirit of Holy Week in Velez­Malaga!

Paws for thought

Betty Henderson ANIMAL lover, rescuer and rights advocate, Hayley Louise Stout from The Under Dog rescue charity tragically lost her own beloved fourlegged friend in January. To honour the memory of her best friend, Curro, Hayley is organising a walk in celebration of her dog’s life, along one of his favourite routes in the area.

Hayley was devastated when Curro passed away unexpectedly during an operation, but she wants to get fellow dog lovers out in the very place where her pet loved to explore.

With the help of the pet-loving community, Hayley’s idea quickly gained traction, and on Saturday, March 25, at 11.30am people from all over will join in an amble along the scenic seafront paseo in Torre del Mar to Caleta and back.

The event promises to be a fun-filled morning, where participants can bring their furry friends along. Guests are asked to bring a donation of €5, giving them entry to a raffle and a

TOWNS across Axarquia celebrated International Women’s Day last week, and the regional government showed their commitment to women’s health by also marking International Endometriosis Awareness Day on Monday, March 14.

The regional government showed its

Women’s health

goodie bag. One lucky number will win a fabulous hamper and a vegan cake.

The charity walk is also an opportunity to raise funds for The Under Dog Rescue. With each step, participants will help make a difference in the lives of rescue dogs.

Contact Anna for further details: annatin line@hotmail.com.

support for the ADAEC organisation which supports women who suffer with endometriosis. This little-known condition affects one in 10 women worldwide, and until recently, it wasn’t even recognised as an illness.

The President of the Mancomunidad regional government, José Juan Jiménez, joined representatives from the ADAEC to read a manifesto in support of those living with endometriosis. The manifesto aimed to increase visibility and awareness of this debilitating illness.

EWN 16 - 22 March 2023 euroweeklynews.com NEWS 2
Local animal lover Hayley Louise Stout with her beloved Curro who passed away. Photo credit: Hayley Louise Stout (via Facebook)

NIBS EXTRA

Calling bakers!

ORGANISERS from the AAR Catstravaganza event are appealing for baking lovers to donate cakes, biscuits or savoury products to their table at the event set to take place on Sunday, March 19 from 11am at the Restaurante Puerto Niza in Benajarafe.

Iconic trophy

TORROX had the honour of hosting the basketball Copa de Rey cup until Monday, March 14. The prestigious cup went on display in the Municipal Sports Pavillion, inspiring a new generation of basketball lovers who travelled to see the iconic trophy.

Safety step

LAGOS PLAYA , near to Velez­Malaga will have a constant lifeguard service for the first time ever this summer. A lifeguard will be present at a lifeguard tower throughout the months of July and August from 12pm until 8pm everyday.

ATM advance

THE Diputación de Malaga regional authority is set to fund the installation of ATM cash machines in some of the most remote areas in Axarquia. Towns including Cútar and Canillas de Albaida will receive ATMS, improving accessibility in rural areas.

Lottery luck

ONE lottery player in Rincon de La Victoria had a lucky day on Saturday, March 11 as they received a prize of €600,000. The winning ticket was sold at ONCE lottery ticket booth number 50540 located on Calle Córdoba.

Beach comfort

AUTHORITIES in Torre del Mar announced that the town’s beach has received two new toilets ahead of the tourism season. The two bathrooms have been installed to improve accessibility and include disabilityadapted facilities.

Betty Henderson TORRE DEL MAR’S popular triathlon is set to return on Sunday, March 26 and this year’s edition is extra special as the event enters its third decade. Athletes are preparing for an adrenaline­fuelled morning of sports against the town’s scenic backdrop.

Athletes will have three different disciplines to choose from during the event including a ‘half triathlon’ beginning at 8am, followed by an ‘Olympic triathlon’ at 10am and the ‘Sprint triathlon’ at 12pm. The event timings have been modified to improve safety and guarantee a spacious course for all participants.

The event is not just a competition however. As in previous years, the

VELEZ­MALAGA is set to become more sustainable with the arrival of two Low Emission Zones (LEZ), according to an announcement made on Monday, March 6.

The local council has designated Velez­Malaga’s old town and the centre of Torre del Mar as LEZs. The two areas span 477,000 metres squared and 227,000 metres squared, respectively. The council has created a draft plan which is awaiting approval but

Swimmers launch into the sea in last year’s triathlon in Torre del Mar.

event is also a charity initiative, raising funds for the fight against ALS. Announcing this year’s event, the

Torre triathlon Sustainability

they are expected to come into use by January 2024. Other sustainable action is also planned including pedestrianising public spaces in both towns.

The Spanish government passed a decree in December 2022 on LEZs, which require towns with more than 50,000 residents to adopt sustainable urban mobility plans ‘before 2023’ or

Nerja’s transportation hub

IN an exciting announcement on Thursday, March 10, the mayor of Nerja, Jose Alberto Armijo, explained that plans to build a new transportation hub have advanced to the next stage.

Armijo announced that Nerja Town Hall has officially requested assistance from the regional government, the Junta de Andalucia, to finance and carry out the construction of a new transport station in the town. The cutting­edge transportation hub will revolutionise transport options in the region and improve sustainability.

The transportation centre is set to be constructed on

top of a huge 900 space car park, which will be built near to a planned health centre on Avenida Pescia, allowing residents and visitors more flexibility with their travel plans.

Armijo expressed his excitement about the project’s approval and the benefits it will bring to Nerja, “Our goal has always been to have a bus station that reflects the needs of a modern tourist town. This transportation hub will be placed in a strategic location on the roof of a large parking facility, with easy pedestrian access to the heart of Nerja's tourism district.”

deputy mayor of Vélez­Málaga, Jesús Pérez Atencia expressed his excitement, saying, “We are talking about one of the oldest municipal sports competitions, and this year will be a unique occasion.”

Athletes interested in participating in the event can complete a registration form online at: www.triatlon torredelmar.es.

The event promises to be a thrilling morning of competition while experiencing the beauty of Torre del Mar.

by the end of the year. Several towns in Axarquia and the Costa del Sol are working towards developing LEZs.

Low emission zones are an important step towards creating more livable and sustainable cities. By encouraging the use of low ­ emission transport and pedestrianising town centres, local authorities can improve air quality and reduce traffic congestion, making urban areas more pleasant and attractive for residents and visitors alike.

Budget boost

AUTHORITIES from the Axarquia and Costa del Sol regional government approved their 2023 budget on Monday, March 13. This year’s budget amounts to a total of €3.93 million, an increase of €549,106 on last year.

The budget increase is due to more projects being scheduled to take place this year, though some will receive funding from other authorities. The budget was approved unanimously by all representatives on the General Board, passing standards of account transparency, budget stability, and financial sustainability.

The president of the regional Mancomunidad authority, José Juan Jiménez, stated that the budget was designed based on the needs of residents in the region and explained that funds will be channelled to provide services to towns that need investment.

A shore bet

THE mayor of Nerja, José Alberto Armijo, took a visit to El Playazo beach on Tuesday, March 14 to inspect progress on a shore expansion project which is being funded by the national government. Armijo made the trip alongside government representative Javier Salas.

The project, which has a budget of €70,000 will expand the beach area by around 7,000 metres squared, reclaiming space for residents and visitors.

One of the highlights of the budget is a €250,000 investment sum from authorities in Malaga. This funding will be used to improve beach infrastructure in coastal towns, to purchase a tractor to clean sand, to purchase other important vehicles and equipment for providing services, and to restore the Mancomunidad building.

Armijo shared his satisfaction with the project, stating that “when administrations work together, in harmony, projects move forward efficiently and smoothly.” He also thanked the government and Javier Salas and other council workers for their efforts on the project.

During the meeting, Armijo also urged the Spanish government to respond to a nearly three decade long request from residents for breakwaters at Torrecilla beach to stabilise the beach.

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STORIES IN THIS WEEK’S EDITION
Authorities check out plans for a new transport station in Nerja.
Photo credit: Ayuntamiento de Nerja
Photo credit: Ayuntamiento de Vélez-Málaga (via Facebook)

PROVERB OF THE WEEK

Mother’s Day New skills

UK Mother’s Day is this Sunday, March 19, so don’t forget the flowers, chocolates and extra goodies for your mothers this weekend. Mother’s Day takes place on the fourth Sunday of March, exactly three weeks before Easter Sunday.

In the UK a Mother’s Day tradition is that of baking a simnel cake, a light fruit cake with two layers of marzipan. As Mother’s Day falls in between lent this is known and represents a relaxation fasting rules tarditionally also known as Refreshment Sunday.

If you are unsure on what colours to wear this Sunday green is known to represent the protective nature of mothers, while yellow alludes to an optimistic outlook towards life for children. Coincidentally the date for UK Mother’s Day this year is the same day as the Spanish Father’s Day. Spanish Mother’s Day is on May 7.

Betty Henderson HOSPITALITY skills are set to come along in Almuñecar as the town hall launched a training programme aimed at local unemployed people called ‘Basic Operations for Restaurant, Bar and Kitchen’, to develop new hospitality skills.

Two different courses will be offered in the programme; a 290 hour ‘Basic Restaurant and Bar Skills’ course and a 350 hour ‘Basic Cooking Skills’ course. Both of the courses also include 80 hours of practical learning, to ensure that participants have all of the necessary skills for the workplace.

The programme is a mix of online and in­person training, including practical experience in local establishments, and even includes a free English language course. Almost 30 people have already signed up, and registration is still open until Friday, March 17.

The programme is designed to provide participants with a professional certification and practical experience, increasing their chances of finding employment in the local restaurant and bar industry.

The councillor for Employment, Beatriz González Orce, spoke at a launch event, highlighting the importance of having skilled professionals.

EWN 16 - 22 March 2023 euroweeklynews.com NEWS 4
Don’t forget the flowers. Image
Credit: fizkes/Shutterstock.com
Meaning that the voice is an amazing gift, both a privilege and a responsibility that should be used. The origin of this proverb is unknown but can be dated to back to the time of Shakespeare’s Othello, The Speeches and Silences of Women.
“A woman’s voice is meant to be heard, not silenced.”

By making the lifestyle choice to retire in Spain, you’ll want to make the most of what the country has to offer, hopefully well into the future. This may be longer than you expect. Thanks to medical advances and a better quality of life, people are generally living longer than before.

Living to a ripe old age does sound appealing, provided we are healthy enough. There are, however, implications at both personal and government levels, with the key issue being: can we afford it?

The longer we live, the longer we need our savings to last. For peace of mind, assess whether your resources are on track to last throughout your lifetime.

Income and inflation

The inflation levels we have seen for the last year or so were certainly an eye-opener on how it can impact our monthly living costs, but even low levels, compounded year after year, will reduce how far a fixed income will stretch in the future.

Say, for example, you spend €5,000 a month. Assuming an inflation rate of 3% a year, in 10

The cost of living longer

British expatriates also need to factor in exchange rate risk. If you receive income in pounds while spending euros daily, depending on currency movements you may find your money does not go as far.

spending, and €9,030 in 20 years. Tour capital and income would need to grow by the same amount to maintain the same standard of living.

Making your savings and investments last

Many retirees favour safer investments like bank deposits in their later years. But with a potential 30

By following some key investment principles and taking specialist guidance you can invest your capital to give it the opportunity to keep pace with inflation, while keeping risk to a comfortable level. Start by establishing your risk profile then carefully build a well-diversified portfolio to suit your circumstances, needs and objectives.

A taxing problem – not just for governments

Rising life expectancy is expensive for governments. The higher the proportion of older people, the greater the costs of services like state pensions and healthcare – and with fewer taxpayers to fund it.

creases to finance these escalating expenses.

Higher taxation can be a threat to your financial security in retirement as it also erodes income. Personalised tax planning is vital to make use of available opportunities so you do not pay more tax than necessary.

With many arrangements you can combine your tax and investment planning in one exercise, allowing you to tackle the twin threats of tax and inflation.

Getting the most from your pensions

Pensions are often the key to financial security in retirement. Carefully weigh the pros and cons of all your options. Consider your income needs, investment options and risk, currency risk, what happens on death, and – importantly – the tax implications in Spain. There may be ways to make pen-

scams and establish the best approach for your objectives and circumstances.

Leaving wealth behind Estate planning is complex –more so for expatriates who have to consider the inheritance regime of two countries and how they interact, and navigate foreign inheritance taxes and succession laws. Spain, for example, imposes forced heirship. If your family includes children from previous marriages, be particularly careful to ensure everyone benefits in accordance with your wishes.

Whatever your stage of life, good financial planning can help you afford the lifestyle you want, for as long as you need, so you can focus on enjoying your retirement in Spain.

Keep up to date on the financial issues that may affect you on the Blevins Franks news page at

EWN 16 - 22 March 2023 5 FEATURE euroweeklynews.com

Leap in luxury

LA HERRADURA is set to welcome a brand­new luxury resort in 2025. The resort, called ‘Mar Deluxe’ has a handsome budget of around €8 million and will boast 30 upscale tourist apartments spanning more than 200 metres squared each.

The resort will be situated on a plot of land covering more than 6,000 metres squared, against the backdrop of the town’s picturesque coast, and close to the idyllic Las Palomas cove. The hotel will feature two heated swimming pools, a gym, ample parking, a bar, and a restaurant.

The project is a unique blend of hotel and luxury apartment living, specifically targeted towards high­net­worth individuals seeking an exceptional holiday experience. It represents a significant step forward for the town’s tourism sector, which has been recovering since the pandemic.

The prestigious project was unveiled by the mayor of Almuñecar, Juan José Ruiz Joya,

and other representatives from the local council, along with the developer, Antonio Ruiz Díaz and project architects at a meeting on Tuesday, March

14. Ruiz Joya highlighted his excitement saying it will “put it on the map as a destination for high­end travellers, and create jobs in the surrounding area.”

Italian adventure

A GROUP of Italian students and teachers spent a delightful week in Almuñecar as part of an Erasmus exchange. The adventure was not only about visiting a new place, but was also developed to encourage a love of sports and its values of friendship and sportsmanship.

The group is composed of 17 students aged between 15 and 17 years old and three teachers from Milan arrived in the town on Wednesday, March 8. Arriving at the host school IES Antigua Sexi, the students and teachers were warmly welcomed by the director, Antonio Martín Olid, and the local councillor for Culture and Education, Alberto García Gilabert. The local council also gave the students some souvenirs to mark the beginning of their journey.

Throughout the week, the students enjoyed an exciting educational programme including lessons at Hotel San Cristóbal, where they stayed as well as enjoying volleyball matches at Puerta del Mar with other young people in local volleyball clubs. The project was a unique opportunity for the Italian and Spanish students and teachers to expand their knowledge about sports and their values while experiencing a different culture.

EWN 16 - 22 March 2023 euroweeklynews.com NEWS 6

Getting out more

MOVING to our rural community in Galicia, we were more of a curiosity than anything else.

Americans move to the Costa del Sol or the Costa Brava, not the geographical centre of the rainy Spanish province tucked up above Portugal. As far away from the capital, Madrid, as you can get. Let’s face it, where we live isn’t sexy. No one is in a bikini getting a suntan or enjoying a fruity beverage under an umbrella on the beach in midMarch. Where we live is a work ­ a ­ day placefilled with farmers and tradesmen. And tractors.

Everyone here knows everyone else except us. And they don’t need to broaden their circle, especially to include linguistically challenged Americans who dress weird and are always smiling, as Americans are known to do. So, we had to find another way in.

After we moved to the farm, Jeff and I decided we wanted a dog. Our neighbourhood dogs visit regularly, but we wanted one of our own. Finally, a shelter responded to my inquiry, and we adopted our new Labrador, Fergus. And I began walking him on the trails in the area, through villages, and into town.

At first, people were sceptical of the American woman and her little puppy. Then, they started to stop their chores to pet him. Soon, I began to recognise fellow dog walkers. I would get a tip of the cap or a barely discernible chin nod. Then, they would allow their dogs to interact with Fergus and chat.

Jeff and I were in town recently. A man smiled and nodded at me as we passed.

“Who’s the guy?” Jeff asked.

“Just one of my dogwalking friends. Fergus knows him.”

Jeff just laughed. But he really should get out more.

EWN 16 - 22 March 2023 7 FEATURE euroweeklynews.com
Age in Spain. www.ageinspain.org Email: info@ageinspain.org - Tel: +34 932 209 741

INTERNATIONAL WOME N’S DAY might be over, but there’s still plenty to celebrate, because March is Women’s History Month!

For years, women have been left out of the literary world, but that is all changing now. This month, we are celebrating the trailblazing women who have fought against patriarchal systems and societal barriers to make their mark on the literary world.

Award­winning Jewish author Corie Adjmi knows the power of women’s writing. She describes it as an act of rebellion, advocacy, and empowerment. Through their words, women build empathy, understanding, and connection with readers. They guide, inspire, and influence

SPAIN has the privilege of being the guest of honour at the 2023 Cannes Film Festival as the Marche du Film has invited Spain to be their next guest of honour.

Guillaume Esmiol, executive director of the Marche du Film, confirmed: “Spain is the second country to receive this privilege after India became guest of honour in 2022.

“We are very proud to have Spain as a guest of honour in this very special edition.”

“Spain will have a strong presence in the Marche du Film

Writing triumphs

conversations and outcomes, shaping the literary scene with their unique perspectives and voices. Thanks to the tireless efforts of feminist movements and the increasing recognition of women’s contributions, women authors are now breaking down barriers, shattering stereotypes, and paving the way for future generations of female writers. So this Women’s History Month, let’s raise a glass to these incredible women.

It’s time to celebrate their triumphs and honour their contributions to the literary world. It’s time to read their works, listen to their voices, and amplify their messages.

Guest of honour

programmes and is looking forward to sharing its ambitious plans to support international co­production and strengthen Spain as one of Europe’s leading audiovisual hubs with the entire professional film community.”

The Marche du Film is the

most important international professional meeting of the film industry.

The Cannes Film Festival will run from May 16 to 24, it brings together 12,500 audiovisual industry professionals in Cannes each year.

“ Always believe in yourself, have pride in yourself and don’t take no for an answer. ”

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Barcelona to Amsterdam

THE launching of a new sleeper train project has been confirmed by the railway company, European Sleeper.

The company confirmed that: “European Sleeper is very proud to be part of this ambition of the European Commission.

“For the new Dutch­Belgian railway company, the train to Barcelona will be the second route after introducing the Brussels ­ Amsterdam ­ Berlin night train in May 2023.

“The Amsterdam ­ Barcelona night train will strongly improve Europe’s quality of northsouth rail connections. Even more so because one travels efficiently while asleep on the night train, and distances are reduced to just a night away.”

European Sleeper added: “On the way between Amsterdam and Barcelona, European Sleeper is planning to call at Rotterdam, Antwerp, Brussels and Lille (connection from

THROUGHOUT the month of February the price of rent in Spain rose by 0.4 per cent. This represents a year­onyear increase of 8.7 per cent and the highest price reached in Spain.

In the last quarter, the price has risen by 3.4 per cent while in the last year,

London) in the evening and Avignon, Montpellier, Perpignan, Figueras and Girona in the morning.

“European Sleeper aims to start the new night train between Amsterdam and Barcelona in the spring of 2025.

“As a first step, the European Commission will invite all applicants to discuss the pilot projects in detail, agree on potential ways to support them, and further detail the planning.”

Rental prices

the increase is 8.7 per cent.

Thirty­seven capital cities have experienced rises in the price of rented housing over the last month. The most pronounced increase was in

Huesca, where rents rose by 9.6 per cent, followed by Zamora (3.7 per cent), Jaen (3.3 per cent), Las Palmas de Gran Canaria (3.2 per cent) and A Coruña (3 per cent).

Leon is the capital in which the price of rent has fallen the most during the month of February (­1.9 per cent).

EWN 16 - 22 March 2023 9 NEWS euroweeklynews.com
SLEEPER TRAIN: Planned for spring 2025. Image: Markus Mainka / Shutterstock.com

Illegal immigration in the Channel

THE United Kingdom said on Friday March 10 it would pay £477 million (€539 million) over the next three years as part of a deal with France to combat illegal immigration across the English Channel.

The deal was announced during a joint summit between British Prime Minister Rishi Sunak and his French counterpart Emmanuel Macron in Paris on Friday.

This decision follows the controversial ‘stop the boats’ legislation announced last week by the British PM that will mean refugees are not granted asylum in the UK.

The new law has been criticised as racist, illegal and unworkable and has led to the widely publicised criticism from BBC star, Gary Lineker. The money will finance a new detention centre for migrants in France and the deployment of 500 French security and support officers “to enable the fastest detection of attempted crossings” by small boats, a joint statement from the two countries said.

The UK has seen an increase in the number of illegal migrants who pay human trafficking gangs to smuggle them

into Britain in small, non­seaworthy boats. Many of these boats have sunk, and people have died.

Rise in pensions

CONCERNED about a labour crisis particularly in the NHS, Jeremy Hunt will give middle­class workers a pension boost in a bid to encourage them to extend their careers into later life.

Whitehall sources said the Chancellor will use the Budget to unveil ‘significant’ increases in pension allowances that are blamed for driving doctors and other professionals out of the workforce.

The £1 million lifetime allowance on tax­free pension savings will see the first substantial increase for a decade.

The £40,000 cap on annual pension contributions will also be raised. Both moves are designed to tackle the so­called 'pension trap' which can leave some professionals facing punitive tax charges if they continue working into later life.

Tory former minister Sir John Redwood added: “I have been very worried about the loss of a lot of experienced doctors, who say that taxation of their pensions is one of the big issues driving them out of the profession.”

This move comes following the Treasury’s plans to water down the increase in the numbers of doctors and nurses in the NHS.

EWN 16 - 22 March 2023 euroweeklynews.com NEWS 10
“One is not born a woman, but becomes one.”
Simone de Beauvoir

BUSINESS EXTRA Not flexible FINANCE

Driving force

UK car sales recovered further in February for the seventh consecutive month as registrations rose by 26 per cent with electric vehicles and plug­in hybrids accounting for almost a quarter of new models. Last month’s 77,441 registrations were only 6.5 per cent lower than pre­pandemic levels.

Pampered dogs

PET CARE company Artero, which specialises in dog grooming and cosmetics, had a turnover of more than €20 million last year, compared with €8.5 million in 2018, a 150 per cent increase. The group, which sells in 90 countries, now has plans to open subsidiaries in the UK and France.

Naughty step

TONY DANKER, who heads the Confederation of British Industries, took time out during an investigation into his conduct at work involving a female employee. The CBI said it took all matters of workplace conduct “extremely seriously” but declined to comment until the review was complete.

Serve yourself

SPAIN has 1,900 petrol selfservice petrol stations, accounting for just over 18 per cent of the total. This 49 per cent increase between March 2021 and January 2023 was accompanied by lower running costs, resulting in more competitive prices, said Aesae, the association representing the sector.

Fashion fiasco

MANCHESTER’S online fashion group In The Style is selling out to private equity group Baaj Capital for £1.2 million (€1.34 million) two years after it was listed on the stock market with a value of £105 million (€117.82). The company said the sale was necessary to avoid administration.

was paid out in dividends to the holders of stocks and shares in companies listed on Spain’s Stock Exchange in 2022, an increase of 32 per cent on 2021.

Not without a struggle

Linda

SPAIN’S government is looking to prevent multinational Ferrovial from moving its headquarters to the Netherlands.

Ministers believe it could be possible to use anti­takeover legislation to halt the planned merger between Ferrovial’s Madrid­based parent company and Ferrovial International, its Dutch subsidiary.

This law was introduced in early 2020 to protect foreign companies from snapping up strategic Spanish businesses as shares plummeted owing to Covid lockdowns and restrictions.

The law, extended last December, will be in force until the end of 2024

THE decision to close the UK’s Taxpayer Protection Taskforce could involve the loss of up to £5.1 billion (€5.7 billion) for taxpayers.

The £100 million (€112.3 million) taskforce was created to combat fraud in the Covid­19 financial support schemes that were administered by His Majesty’s Revenue and Customs (HMRC) during the pandemic. More than 1,000 employees were assigned to focusing on recouping fraudulent and faulty claims.

A cross­party parliamentary committee voiced concerns on March 8 that HMRC’s plans to close the taskforce would now result in paying insufficient atten­

Grifols doubt

GRIFOLS CEO Steven F Mayer’s surprise resignation has disconcerted shareholders.

Mayer resigned from the pharmaceutical company that specialises in plasma­derived medicines at the end of February, citing “personal motives” five months after taking over.

This coincided with the presentation of the Barcelonabased multinational’s savings plan, created to demonstrate commitment to tackling its share price crisis and the €9 billion debt dogging the company since the pandemic.

Tactics include laying off 8.5 per cent of Grifols’ global workforce and measures aimed at saving an annual €400 million.

and legal experts are currently analysing whether activating it would require explicit Cabinet authorisation.

Nadia Calviño, vice­president and Minister for Economic Affairs pointed out on hearing Ferrovial’s announcement that the highly profitable con­

struction and services company had founded its fortune on public sector infrastructure contracts. During Pedro Sanchez’s time as president alone, Ferrovial was awarded €1 billion in contracts.

Calviño stressed that Ferrovial could not be “punished” via contracts but inside the construction sector the feeling is growing that the company would not be the best ally in coming months.

This was the opinion of the director general of a company listed on Spain Ibex­35. Many of the infrastructure giants would think twice before joining Ferrovial on big contracts, he said. Another agreed that at present, Ferrovial would not be the “best of companions” on short­term joint ventures.

Covid billions lost

“It would be unacceptable for HMRC to write off such a large amount of taxpayer’s money,” the committee claimed. “Too many companies claimed that shouldn’t have and now won’t give it back,” said Dame Meg Hillier, the committee’s Labour chairwoman.

GOLD is a traditional standby providing protection against uncertainty and inflation although prices can experience intense fluctuations, experts warned.

“I wouldn’t recommend this type of investment for someone wanting short term returns,” financial adviser Victor Alvargonzalez said.

Gold shot up at the start of the pandemic and the beginning of the Ukraine war but tumbled between March and October 2022. An ounce of gold fetched $1,824 (€1,728) in February, 11 per cent below the maximum of $2,067 (€1,958) it reached in early August, Alvargonzalez said.

“Gold isn’t meant for speculation, it’s more of a strategic investment,” added market analyst Javier Molina.

Rising sales

GREGGS will open 150 new shops and trial 24­hour drivethrough outlets after a rise in sales and profits despite increased overheads.

tion to chasing up the billions of public money lost.

The committee learnt that HMRC estimated that between £2 and £5.1 billion (€2.6 and €5.7 billion) of spurious claims have been made to the furlough scheme for

company workers, the support programme for the selfemployed and the ‘Eat Out to help out’ meal subsidy plan.

This was unlikely to have been recovered by 2023­24, the committee found.

Caixabank says no

CAIXABANK intends to lodge a formal challenge against Spain’s 4.8 per cent windfall tax.

The bank joins other Spanish lenders in objecting to the temporary tax announced by the government in December to finance the €6 billion measures introduced to counteract the cost of living crisis.

The group ­ in which Spain’s government still has a holding of just over 16 per cent via the 2009 Bank Restructuring Fund (FROB)has described the tax as “discriminatory, confiscatory and distorting market competition within the eurozone.”

Instead of settling the first advance payment of the windfall tax on net profits of more than €800 million due in February, Caixabank has opted to contest the levy.

Sabadell, Bankinter, Abanca and Kutxabank have joined, or will join, Cataloniabased CaixaBank in appealing against the tax.

HMRC said in January that the taskforce “has not given value for money” and announced it intended to close the unit in September 2023. The taskforce is likely to recoup between £525 and £625 million (€589.5 and €701.8 million).

Punishment

CONSULTANCY firm PwC was fined £7.5 million (€8.4 million) for serious breaches while auditing the accounts of engineering company Babcock.

These included faking evidence related to a sensitive government contract, the Financial Reporting Council (FRC) said, adding that it found infringements in every area of Babcock’s 2017 and 2018 accounts that were investigated. The independent regulator for the UK and Ireland maintained that PwC “repeatedly” failed to challenge management, gather sufficient evidence to confirm financial statements, or follow basic audit requirements. PwC’s succession of failures meant there was a risk that mistakes or misstatements in Babcock’s financial accounts could have been overlooked, the FRC said.

The chain renowned for its sausage rolls announced plans to resite 40 shops in larger premises and refurbish another 150 stores this year, as demand for its products remained buoyant, notwithstanding the cost of living crisis.

The London Stock Exchangelisted company reported that sales had risen by 23 per cent to £1.5 billion (€1.68 billion) in 2022, with pre­tax profits 1.9 per cent higher at £148 million (€166 million).

Tickets hiked

RAIL fares in Britain have experienced the largest increase in more than a decade despite record levels of poor timetable reliability.

Fares in England and Wales rose by up to 5.9 per cent on average, adding hundreds of pounds to the outlay for most annual season tickets, consumer groups said. The annual rise was the largest since the 6.1 per cent hike across the country that was announced in 2012.

Britain’s Rail minister Huw Merriman justified the increase which he maintained was “well below” inflation.

euroweeklynews.com • 16 - 22 March 2023 12
STAT OF WEEK €25.27 billion
NADIA CALVIÑO: Economy Minister looking for ways to halt Ferrovial’s exit. COVID SCHEME: HMRC admitted it received billions of false claims. Photo credit: Moncloa Pool Photo credit: photopublishing.service.gov.uk

DOW JONES

3M 104,06 107,00 3,69M American Express 165,70 170,83 164,84 5,09M Amgen 227,87 230,28 225,63 2,65M Apple 148,50 150,94 147,61 68,12M Boeing 203,07 205,00 197,79 8,51M Caterpillar 227,01 238,13 225,80 5,74M Chevron 159,67 164,67 158,67 7,37M Cisco 48,56 49,17 48,30 16,33M Coca-Cola 59,21 60,14 58,99 13,33M Dow 53,88 55,18 53,31 5,34M Goldman Sachs 327,67 339,93 326,03 4,51M Home Depot 286,31 293,16 284,10 4,68M Honeywell 193,33 196,68 191,89 3,53M IBM 125,45 127,29 125,13 5,92M Intel 27,22 27,52 26,32 65,04M J&J 151,61 153,49 151,10 8,50M JPMorgan 133,65 135,26 127,82 37,34M McDonald’s 262,03 266,58 261,26 2,96M Merck&Co 107,69 110,72 107,34 9,64M Microsoft 248,59 252,79 247,60 28,25M Nike 117,49 118,99 116,64 5,98M Procter&Gamble 137,19 137,99 136,35 5,91M Salesforce Inc 173,18 179,36 171,71 14,10M The Travelers 175,68 178,15 172,57 2,40M UnitedHealth 460,33 468,86 457,59 3,76M Verizon 36,68 36,92 36,41 23,64M Visa A 216,14 219,12 215,48 6,63M Walgreens Boots 33,26 33,64 32,90 8,21M Walmart 136,97 138,28 136,09 6,64M Walt Disney 93,57 95,90 92,83 13,94M Intermediate Capital 1.279,50 1.318,00 1.276,50 101,95K Intertek 4.086,0 4.138,0 4.084,0 71,13K ITV 82,52 85,24 82,52 878,02K J Sainsbury 256,79 261,00 256,00 230,13K Johnson Matthey 2.060,0 2.092,0 2.058,0 10,15K Land Securities 620,00 632,80 620,00 86,72K Legal & General 246,70 253,20 246,37 1,88M Lloyds Banking 48,57 50,06 48,55 11,77M London Stock Exchange 7.400,0 7.466,0 7.387,0 12,12K Melrose Industries 159,50 162,60 159,50 71,62K Mondi 1.320,00 1.343,55 1.322,07 6,02K National Grid 1.040,50 1.049,50 1.040,50 591,43K NatWest Group 279,80 288,20 279,53 346,98K Next 6.908,0 6.984,0 6.908,0 15,24K Norilskiy Nikel ADR 9,10 9,10 9,10 0 Ocado 445,00 462,10 444,88 63,43K Persimmon 1.221,0 1.247,0 1.219,5 76,37K Phoenix 606,20 622,80 603,74 169,90K Prudential 1.200,00 1.233,41 1.199,78 32,51K Reckitt Benckiser 5.760,0 5.774,0 5.736,7 4,90K Relx 2.514,44 2.529,00 2.511,00 185,54K Rentokil 512,00 519,00 511,80 78,54K Rightmove 535,90 543,00 536,00 62,26K Rio Tinto PLC 5.573,0 5.652,0 5.572,0 183,63K Rolls-Royce Holdings 148,85 152,82 148,80 3,24M Sage 752,40 765,80 752,20 40,07K Samsung Electronics DRC 1.148,50 1.157,00 1.148,50 0,93K Schroders 454,4 461,3 453,8 159,08K Scottish Mortgage 669,90 683,60 669,64 394,96K Segro 761,60 782,00 760,00 11,53K Severn Trent 2.735,0 2.784,0 2.738,0 19,73K Shell 2.508,6 2.539,3 2.508,6 54,46K Smith & Nephew 1.184,50 1.198,50 1.184,00 89,72K Smiths Group 1.716,50 1.733,00 1.716,00 19,16K Spirax-Sarco Engineering 10.922,6 11.085,0 10.925,0 7,03K SSE 1.716,50 1.735,86 1.716,00 17,24K St. James’s Place 1.179,25 1.201,00 1.179,50 46,21K Standard Chartered 718,40 744,80 718,40 831,88K Taylor Wimpey 113,83 116,50 113,75 275,34K Tesco 257,10 260,40 256,90 483,70K Tui 1.519,40 1.547,00 1.526,00 14,82K Unilever 4.042,0 4.068,0 4.038,0 149,77K United Utilities 1.024,00 1.039,50 1.025,00 102,55K Vodafone Group PLC 97,05 98,40 96,97 1,05M Whitbread 2.945,0 2.992,0 2.943,0 21,68K WPP 969,40 985,20 969,40 123,60K Most Advanced RLX Technology Inc. +15.07% 24.61M Industrias Bachoco, S.A.B. de C.V. +10.73% 24,892 IAA, Inc. +10.37% 17.197M Rolls-Royce Holdings plc +8.14% 1.583M Bilibili Inc. +5.96% 11.223M Turkcell Iletisim Hizmetleri A.S. +5.66% 447,043 Luckin Coffee Inc. +5.59% 1.925M Grupo Bimbo, S.A.B. de C.V. +5.32% 27,106 Endeavour Mining plc +4.94% 18,513 GoodRx Holdings, Inc. +4.92% 3.231M Yancoal Australia Ltd +4.52% 15,480 Most Declined Signature Bank -22.87% 21.708M DocuSign, Inc. -22.85% 29.048M Western Alliance Bancorporation -20.88% 24.666M First Republic Bank -19.74% 578,308 First Republic Bank -17.65% 274,265 TG Therapeutics, Inc. -15.84% 9.808M BILL Holdings, Inc. -14.90% 9.574M First Republic Bank -14.84% 51.421M StepStone Group Inc. -13.01% 1.324M JinkoSolar Holding Co., Ltd. -12.78% 3.68M Sunrun Inc. -12.31% 30.528M C C OMPANY OMPANY P P RICE RICE((P P)) C C HANGE((P P)) % C % C HG N N ET ET V V OL
CLOSING PRICES 13 MARCH 3I Group 1.562,25 1.586,00 1.562,00 63,50K Abrdn 214,20 219,70 214,00 201,01K Admiral Group 1.860,0 1.891,5 1.852,0 12,14K Anglo American 2.810,5 2.853,0 2.802,0 308,44K Antofagasta 1.532,00 1.552,50 1.532,00 110,74K Ashtead Group 5.398,0 5.526,0 5.396,0 35,29K Associated British Foods 1.986,4 2.029,0 1.986,0 54,22K AstraZeneca 10.630,0 10.711,0 10.597,1 7,12K Auto Trader Group Plc 573,80 579,40 572,80 176,49K Aviva 437,40 451,42 437,15 472,88K B&M European Value Retail SA488,38 496,00 488,00 15,47K BAE Systems 926,20 935,20 923,60 490,58K Barclays 154,09 157,40 153,99 2,72M Barratt Developments 430,70 438,10 429,60 207,15K Berkeley 3.984,0 4.023,0 3.981,0 21,53K BHP Group Ltd 2.507,28 2.529,55 2.507,28 17,02K BP 537,10 544,60 536,92 440,27K British American Tobacco 3.030,4 3.098,0 3.026,0 26,80K British Land Company 403,00 414,60 403,00 42,24K BT Group 144,43 149,00 144,20 341,77K Bunzl 2.916,0 2.965,0 2.913,0 67,49K Burberry Group 2.390,0 2.445,0 2.390,3 7,49K Carnival 726,6 743,4 726,6 32,48K Centrica 104,60 106,85 104,40 3,97M Coca Cola HBC AG 2.116,2 2.144,0 2.116,2 1,64K Compass 1.893,00 1.906,50 1.892,00 202,97K CRH 4.140,0 4.241,5 4.134,5 48,91K Croda Intl 6.304,0 6.354,0 6.300,0 11,36K DCC 4.415,1 4.475,0 4.415,1 0,80K Diageo 3.477,0 3.496,0 3.472,5 191,13K DS Smith 318,40 322,70 318,50 200,12K EasyJet 492,00 503,60 491,30 382,19K Experian 2.707,0 2.728,0 2.700,0 78,65K Ferguson 11.195,0 11.485,0 11.190,0 29,40K Flutter Entertainment 13.955,0 14.095,0 13.910,0 27,63K Fresnillo 729,40 742,60 727,60 48,13K Glencore 468,11 478,25 467,75 2,75M GSK plc 1.389,87 1.399,64 1.383,98 58,71K Halma 2.050,0 2.079,0 2.048,8 6,03K Hargreaves Lansdown 789,00 797,40 787,00 102,74K Hikma Pharma 1.756,00 1.771,00 1.755,50 1,80K HSBC 578,35 595,50 578,20 530,53K IAG 145,12 149,04 145,12 980,29K Imperial Brands 1.947,00 1.980,50 1.942,00 171,60K Informa 677,40 692,40 677,40 161,24K InterContinental 5.428,0 5.538,0 5.428,0 25,24K º º C C OMPANY OMPANY P P RICE RICE((P P)) C C HANGE HANGE((P P)) % C % C HG HG . N N ET ET V V OL OL COMPANY CHANGE NET / % VOLUME US dollar (USD) ........................................1.0710 Japan yen (JPY) 143.42 Switzerland franc (CHF) 0.9809 Denmark kroner (DKK) 7.4440 Norway kroner (NOK) 11.292 MAKE THE MOST OF YOUR MONEY WITH US See our advert on previous page 0.88507 1.12998 LONDON
CLOSING PRICES 13 MARCH Units per € COMPANY PRICE CHANGE OLUME(M) NASDAQ CLOSING PRICES 13 MARCH M - MILLION DOLLARS THE ABOVE TABLE USES THE CURRENT INTERBANK EXCHANGE RATES, WHICH AREN T REPRESENTATIVE OF THE RATE WE OFFER currenciesdirect.com/marbella • Tel: +34 952 906 581 EWN 16 - 22 March 2023 euroweeklynews.com FINANCE 14
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BUSINESS EXTRA

Keep warm

THE National Grid put backup coal­fired power stations into action for the first time this winter as low winds reduced windfarm output and Britain prepared for the coldest night of the year. Two units at the West Burton plant (Nottinghamshire) began producing power on March 7 to meet the expected demand.

Passive ads

THE National High Court in Madrid pronounced broadcaster Atresmedia guilty of passive advertising by naming El Corte Ingles while promoting AtresPlayer Premium Subscriptions on January 2, 2022. The court confirmed Atresmedia’s €183,220 fine imposed by Spain’s National Markets and Competition Commission.

Not worth it

FEW childcare places and expensive nurseries are prompting mothers to question whether it is worth returning to work. Only 48 per cent of local authorities in England have sufficient childcare places to meet the demand of parents working full­time, compared with 59 per cent in 2022.

Stop and go

RENFE president Raul Blanco announced that Avlo low­cost trains will stop at all stations on Spain’s highspeed routes, while Renfe’s AVEs would make no stops at all or only in principal cities. Blanco confirmed that Avlos would eventually cover all AVE routes once the trains were available.

Pay ruse

PRET A MANGER will give staff their third pay rise in 12 months, following other firms including Tesco, in boosting wages to offset the labour shortage. The company said the rise, which begins in April, amounts to a 19 per cent increase in year­onyear pay for staff.

Wary EU suppliers

Linda Hall

TENSE EU relations are affecting the British economy, warned manufacturers’ group Make UK.

As the bloc’s suppliers grew more cautious about doing business with post­Brexit Britain, the trade body warned that the UK is lagging behind its peers and called for an urgent readjustment of political and trading relationships.

A survey of more than 100 leading industrial companies revealed that practically half said their EU suppliers had become more wary about doing business in Britain.

Almost a fifth had reduced

the number of their suppliers from the EU over the last year while the report revealed damage to the UK’s image and trading relationships was not limited to the EU. Suppliers from elsewhere were also

guarded about Britain, 35 per cent of firms agreed.

Speaking at Make UK’s national conference, its chief executive Stephen Phipson said the survey highlighted the need to build stronger post­

Upkeep blow

Brexit relations with Europe.

“We need to reset our political and trading relationship with the EU which has been marked by such rancour,” Phipson declared.

While applauding the British government’s positive approach, he also called for further progress after the Windsor Framework deal in Northern Ireland.

Prior to the Make UK conference, members had said that more than 40 per cent of manufacturers thought that last year’s political upheavals had damaged the UK’s image regarding direct investment, Phipson added.

Ethical diamonds in Trujillo

CALIFORNIAN company Diamond Foundry will open its second laboratorygrown diamond production factory in Trujillo, (Extremadura).

The 30,000­square metre plant’s 144 plasma reactors will start producing singlecrystal diamond chips in 2024, with total production eventually reaching 10 million carats.

While the plant will focus on producing industrial diamonds that can be used for semiconductors, it will also create traditional synthetic diamonds suitable for jewellery.

Martin Roscheisen, CEO of Diamond Foundry ­ one of whose principal shareholders is Leonardo Di Caprio ­ laid the symbolic foundation stone at a ceremony attended by the regional and local authorities as well as Territorial Policies minister, Isabel Rodriguez.

The Trujillo plant will cost a total of €245 million, €120 million of which has been provided by the Ministry of Industry’s Industrial Support Fund (FAIIP) with another €81 million provided by the Ministry of Economic Affairs.

The factory will be one of the world’s first industrial projects powered entirely by solar electricity which will be provided by a nearby 120­megawatt, 700­acre

MORRISONS have warned at least 83 property maintenance suppliers that their services are no longer required, endangering around 1,000 jobs.

The debt­laden supermarket chain, taken over in October 2021 by US private equity group Clayton Dubilier & Rice, will switch to a single provider for repairs and upkeep. Morrisons is also likely to lay off roughly 50 office staff who handle maintenance in Bradford and other locations.

The suppliers said they were warned their contracts might come to an end during a short video call in which they had not been able to ask questions.

Dual listing

solar energy plant supported by battery storage. This will be built in partnership with Spain’s leading solarpower provider, Powen.

Vitally important from Trujillo’s point of view, the factory will also provide 300 direct jobs, Extremadura’s regional president Guillermo Fernandez Vara said.

Abengoa solution

COX ENERGY GROUP presented an offer of €564 million to acquire all business areas of the Spanish energy and infrastructure company Abengoa.

The Spanish multinational, which specialises in energy transmission and distribution, has been in financial crisis since 2014 when its shares plummeted by 50 per cent.

Cox Energy, which is based in Mexico City and is present in Latin America and Spain, has indicated its willingness to as­

sume Abengoa’s €206 million of debt and guarantees for outstanding projects.

In addition, it would take on the engineering firm’s project financing debt of a further €252 million, as well as €22.8 million in outstanding Social Security quota, while guaranteeing payment of 100 per cent of Abengoa’s privileged credits.

A Cox Energy communique also pointed out that its offer guaranteed 9,500 jobs and would allow Abengoa to maintain its headquarters in Sevilla.

Ocado takes on Tesco

OCADO is now price­matching 10,000 Tesco items.

The online grocer’s announcement came as the company reported losses of more than £500 million (€561.6 million) in 2022.

Food prices began to surge last year after the war in Ukraine sparked a huge rise in energy costs and at the same time disrupted imported supplies of grain, vegetable oil and fertiliser. While prices at all supermar­

kets have risen during this time, the big chains are now in fierce competition to maintain their share of the market.

Ocado has price­matched Tesco in the past but had not done so recently. However, on March 1 it began comparing prices with 10,000 ‘like­for­like’ products on Tesco’s website and will give customers money off their next shop if their order would have been cheaper at Tesco.

SPAIN’S National Securities Market (CNMV) is analysing possible limitations for Spanish companies wishing to list securities in Spain and the US.

Rodrigo Buenaventura, CNMV president, explained that “numerous” Spanish companies traded on US stock exchanges via the American Depositary Shares (ADR) system of certificates deposited with a US bank.

“Some indexes, like Nasdaq, admit ADRs,” Buenaventura said. “Others, no.”

He stated that until now the CNMV has not received enquiries regarding the hypothetical difficulties cited by Ferrovial in listing a Spanish company in the US while registering shares in Spain.

Go ahead now

GOVERNMENT advisers want ministers to take control of the UK’s renewable energy system.

They needed to remove planning permission obstacles for Britain to meet net­zero goals, Chris Stark, chief executive of the Committee on Climate Change, explained.

The existing planning regime prevented construction of onshore windfarms despite official promises to remove barriers which, together with lack of investment, were delaying construction of connections to the national grid, Stark warned.

“It would be an enormous mistake to wait until the next general election to introduce new ambitious policy,” he added.

EWN 16 - 22 March 2023 www.euroweeklynews.com FINANCE 16
Photo credit: CC/Kleon 3
LONDON’S SILVERTOWN: Manufacturers aware of EU suppliers’ caution. SYNTHETIC DIAMONDS: Guillermo Fernandez Vara welcomes synthetic diamond plant. Photo credit: juntaex.es

LEAPY LEE SAYS IT

OTHERS THINK IT

TOLD you the left would never ease up hacking away at its rivals for the next year or so; how right I was. Still fully in league with the Union bosses, most strikes are still being kept rampant.

Pandemic errors, including drinks at ‘Drowning’ street and dodgy WhatsApp messages are still at the forefront. In fact the whole well foreseeable onslaught is positively nonstop.

Starmer is so convinced he will be the next prime minister, his speeches (which you notice keep getting extensive left wing media coverage) are absolutely crammed with the ingenious and (apparently) welcome ideas to get everyone out of trouble.

A veritable multitude of the ‘brilliant well­conceived steps’ his party has planned when they sweep into power.

His own pandemic soirees have of course conveniently been swept under the media carpet. It is actually so easy to rummage around other people’s problems and pronounce

Told you so

liberally what you would do to put everything right. The human race does this all the time. I do it, you do it; opposing politicians do it. It’s a walk in the park to state how you ‘need action’ to improve the neighbors fence or put on extra buses.

It’s actually fixing the problems that prevent you from ultimately solving the problems ­ which truly produces the problems ­ and frankly Labour are coming up with just about a workable zilch in this direction. Interestingly, in a Party, which already includes over 50 per cent of female membership, (go for it gals!) they have announced the appointment of Sue Gray as Chief of Staff.

The job comes just 10 months after this veteran civil servant was the senior staff member who led the official enquiry into Party Gate, an investigation which undermined and ultimately led to the resignation of Boris Johnson. Who better to be rewarded with a place of prominence in a possibly newly elected government?

Well, not only do I think the

RIGHT DECISION? OUR VIEW

whole selection smells to high heaven, but is also a distinct flavour of things to come should they get into power.

To be quite honest I think Starmer comes over a bit weak and pretty easily dominated.

Hold tight Starmer, you may be in for a rough ride. Rayner is already licking her lips! She still has problems raising a smile.

Probably waiting to be posed on the steps of number 10. Personally I’m all in favour. Not of the left, but certainly putting the girls in charge.

History is full of female dominance. Amazons, Queens, Conquering Warriors, World Leaders, Ex Wives. In Africa whole tribes of female warriors have dominated large chunks of its warlike history. Now there’s an interesting thought! Come on girls. Let’s get it on. Chariots of fire an’ all that. You know you love it really.

Keep the Faith Love Leapy/ leapylee2002@gmail.com expatradioscotland. Mon and Fri. 1pm till 4

FOLLOWING a week of dramatic twists and turns in the fate of Gary Lineker’s career at the BBC, the question now is; was putting him back on air ultimately the right decision?

The BBC ­ known worldwide for its emphasis on unbiased news ­ is one of the UK’s longest ­ running and best ­ known institutions. In turn, Gary Lineker is one of the nation’s best ­ loved former footballers.

His decision to tweet his opinion on the government’s rhetoric around the immigration crisis is, clearly, something that any individual should be free to do.

But should that individual then be able to keep their job ­ and, crucially, high salaryif they fail to play by their wage payer’s rules?

After a presenterless Match of the Day where all of Lineker’s colleagues refused to go on air without him, the BBC said they hadn’t backed down by resintating Linker and much was also made of the fact that he is a freelance presenter, not an employee.

However, despite Lineker’s doubtless good intentions over immigration, his desire to have both the cake (his wage and the fame the BBC gig brings him) and eat by disregarding what the BBC stands for.

EWN 16 - 22 March 2023 17 FEATURE euroweeklynews.com
LeapyLee’sopinionsarehisownandarenotnecessarilyrepresentativeofthoseofthepublishers,advertisersorsponsors.

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BY 1964 I had read all George Orwell’s novels, short stories and essays with the sole exception of ‘1984’. I left this for another 20 years, finally reading it in Luxembourg ­ in 1984.

He wrote it in 1948 and much of what he foresaw had come to pass by 1984. It is proving even more relevant as we head towards 2084 ­ or 2048, even. Orwell predicted the loss of personal freedom to supervision by the state autocracy (Big Brother). Unsurprisingly, his predictions are far more fascinating and more substantial than mine.

What will our planet be like in 2084? The speed of change makes it impossible to look that far ahead. The development of artificial intelligence, medicine and technology and, of course, the likelihood of self­destruction through global inhumanity, potential nuclear war and climate change. Massive natural disasters may significantly eclipse those suffered over recent years in Japan, Pakistan, Somalia, Turkey and Syria, as they replace birth control as a means of ‘controlling’ populations.

By 2084, the UK will have split into four separate republics of England, Wales, Scotland and Ulster. King Kevin has abdicated and briefly became interim President of England, before being replaced following a referendum. But let’s look at 2048.

King William V is on the throne. The Prime Minister is tattooed up to the nostrils. The Archbishop of Canterbury sports a ponytail and an Alice band. The Church of England gives its blessing to any man who wants to marry his dog or horse. Public lavatories are all unisex and neither they nor the populace any longer discriminate between the genders (male, female and not quite sure).

Apart from the goalposts, Association football will have become indistinguishable from Rugby and the two will have merged into a wrestling and spitting game called Goal.

Proper written and spoken English is no longer considered necessary, as teachers have surrendered in the battle against Twitter and the media. And what about the year 2030?

Before a film is transmitted on television: “This film contains scenes of extreme violence from the start. Please

switch off immediately if you are of a nervous disposition.” After the film: “If you have been affected by any of the scenes of violence or any other issues in this film, you can obtain help and support which is available from the following organisations...”

Yes, you’ve guessed it. The film is a classic Tom and Jerry cartoon transmitted in about seven years’ time, as the fabric of our trembling society has degenerated further and lies in tatters. Or it could apply to almost any Laurel and Hardy or Charlie Chaplin film.

Back in the late 20th century, ‘Spitting Image’ portrayed Margaret Thatcher clouting members of her cabinet round the head while, in ‘Fawlty Towers’, Basil inflicted slaps and kicks on the cringing Manuel. How on earth could such violence get past the censors in those days?

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Shoulder bag theft LETTERS

AS a resident of Spain for 35 years, 30 years as a CID officer in London and over 20 years working as a volunteer with the police in Fuengirola, assisting victims of crime, I know the crime rate is far lower here than in the UK, and intentional violent crime against members of the public extremely low.

The letter I believe gives a false impression. She does not say she was deliberately physically attacked. From my experience, it appears the 80­year­old lady was the victim of a bag snatch.

However she had a good quality shoulder bag, the strap of which did not break when it was snatched. The lady was pulled over with the force involved, banged her head and suffered a broken shoulder. The injuries she suffered were clearly not intended, albeit sadly serious.

No example

WE have just spent a week on Mallorca and picked up the last two copies of Euro Weekly Informative for the most part but horrified at the racialist tone of the Leapy Lee columns.

Our ‘non­white’ friends were clearly upset at the tone and implications of his writing. Our friends, like their parents, were born in the UK. How can it be they are not ‘an example of what the majority of UK districts represent’. Do we all have to look ‘white’ to represent our country?

The disclaimer you print under his column feels disingenuous. Freedom of speech yes, but publishing overtly discriminatory views should have no place here.

Driving rules

BILLY, Fuengirola, in a letter recently complained 70­year­olds renewing their Driving Licences will now be required to undergo a medical test every two years.

It appears Billy does not know that from one’s very first application for a DL in Spain, every renewal and exchange of a licence, one has always been required to pass a psychophysical examination at a Driver Recognition Centre.

For those 70 and over the test is free. So no big deal to ensure we are safe to drive

Hi team La Scala

ON behalf of our table of ladies I would like to thank and congratulate all the team at La Scala for putting on such an excellent day yesterday.

As usual the service we had from all your waiting staff was superb and the kitchen staff outdid themselves producing wonderful plates for so many diners.

We loved the decor and table gifts we received from Michel at Euro Weekly, and if you could please pass on our appreciation of such thoughtful words and flowers that would be great.

We enjoyed our little VIP booth and being able to see all what was happening around the room as well as having ringside seats for Johnny and the sax lady. It was particularly good to see all the beautiful clothes the models from Mapuchi Moda were wearing. A big thank you to Sara and her girls for adding hugely to the afternoon’s entertainment.

Finally to think enjoying ourselves so much could raise such a huge amount for Dementia Support was absolutely lovely to hear.

Thank you and Kind Regards

Hi Leapy,

I READ your recent column with a wry smile. I am a 6ft former prop forward and no softie having been married to my lovely wife for 30 years. We still kiss numerous times a day and hold hands at all times while out and about.

She recognises what you said about the present range of over aggressive females. What really winds her up is the current TV advert fashion of the need for young females to have explained to them the intricacies of their periods and products for dealing with them and secondly the impression given that the menopause, like periods, never used to happen when she was young. How on earth did females manage back in their younger days?

What is the matter with young people today ?

Best wishes and keep going, Paul

Dear Editor,

I was appalled to read the letter from Unhappy, Torrevieja regarding the violence she was subjected to when her bag was stolen. Hopefully she is recovering physically, though it will have a lasting effect on her.

My husband had his bag stolen just over a month ago. It was a distraction theft and fortunately he was not injured but was shocked to be a victim after being so careful.

It would be interesting to know if anyone who has experienced this kind of theft has ever had any documents or personal possessions recovered.

Several friends and family members would also greatly appreciate the return of the Codeword in your newspaper!

Yours sincerely,

EWN 16 - 22 March 2023 euroweeklynews.com HOROSCOPES/LETTERS 22 Letters should be emailed to yoursay@euroweeklynews.com or make your comments on our website: euroweeklynews.com Views expressed and opinions given are not necessarily those of the EWN publishers. No responsibility is accepted for accuracy of information, errors, omissions or statements.

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INSURANCE

Walking Dead through to final!

BAHA Whiskey Cup Semi­Final Competa 2 v 4 Walking Dead

This was a thrilling game with Walking Dead racing into a 2­0 lead before half ­ time, only for Competa to fight back and equalise on the stroke of full­time.

In extra ­ time, Walking Dead returned to their original formation and, along with a great penalty save by their goalie, managed two more goals to win 4­2 and put themselves into the final against either Malaga or Nerja United. This was another fine game, played in the right spirit and splendidly refereed by Austin Fenn.

EWN Over 50s League

AC Benahavis 9 v 5 Nerja Utd

This game turned into a goal­ fest with both teams attacking from the start! There were some spectacular efforts scored by both sides with Benahavis proving the stronger on the day, the whole affair being excellently controlled by ref Ian Flynn.

EWN Over 60s League

AC Benahavis 3 v 3 Nerja Utd

Benahavis began on the front foot and by half ­ time had established a 3­1 lead. However, Nerja regrouped at the break and managed to fight their way back to what both teams

agreed was a fair and worthy draw.

Gibraltar v Malaga ­ Friendly

Two teams from Malaga WFC accepted the invitation to play against two similar teams from Gibraltar on the rock last week.

Gibraltar 60s A 4 v 0 Malaga 60s

A Malaga never really got going in this match, whereas their opponents excelled from the start. The visitors had several good moments but just couldn’t find their touch to score; however, the home side constantly stretched the Malaga de ­

Barça in trouble

THINGS are getting complicated for FC Barcelona over the ‘Ne greira case’.

Almost a year has passed since the Public Prosecutor’s Office began an investigation into the payment of €7.3 million by the club to José María Enríquez Negreira, vice­president of the Technical Committee of Referees from 1994 to 2018, between at least 2001 and the same year in which he left the position. The long process culminated on Friday March 10 with the formalisation of the complaint against Barcelona and former presidents Sandro Rosell and Josep María Bartomeu.

fence and kept creating goal­scoring opportunities and ran out convincing winners.

Gibraltar 60s B 1 v 1 Malaga 60s B

This was a much tighter game, with both sides playing attractive football, defending and attacking effectively and creating good chances. Gib led 1­0 in the first­half but Malaga fought hard to level the scores, which they did in the latter part of the second.

Both matches were played in an excellent spirit, which was reflected in the camaraderie after the event!

The Public Prosecutor’s Office accuses the club and the former directors of alleged crimes of corruption, disloyal administration and false documentation, considering that the club had a ‘strictly confidential verbal agreement’ with the former referee to guarantee ‘actions tending to favour Barça in the decision making of the referees in the matches they played’.

On Sunday March 12, Real Madrid announced its intention to join the prosecution against Barcelona, and on Monday March 13, the national government’s Sports Council also confirmed their intervention.

Current Barça president Joan Laporta has admitted the payments but refuses any wrongdoing, insisting that receiving assessment from acting referees is “a common practice among professional clubs.”

EWN 16 - 22 March 2023 euroweeklynews.com SPORT 24
SEMI-FINAL: Competa v Walking Dead played in the BAHA Whiskey Cup. Current Barça president Joan Laporta. . Image by Christian Bertrand/Shutterstock

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TWENTY-EIGHTY-FOUR

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RIGHT DECISION? OUR VIEW

1min
page 17

Told you so

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Go ahead now

1min
pages 16-17

Ocado takes on Tesco

0
page 16

Abengoa solution

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page 16

Ethical diamonds in Trujillo

1min
page 16

Wary EU suppliers

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page 16

BUSINESS EXTRA

1min
page 16

Punishment

1min
pages 12, 14

Covid billions lost

1min
page 12

Not without a struggle

1min
page 12

BUSINESS EXTRA Not flexible FINANCE

1min
page 12

Rise in pensions

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pages 10-11

Illegal immigration in the Channel

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page 10

Barcelona to Amsterdam

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page 9

Getting out more

2min
pages 7-8

Italian adventure

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page 6

Leap in luxury

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page 6

The cost of living longer

1min
page 5

Mother’s Day New skills

2min
pages 4-5

Budget boost

1min
pages 3-4

Torre triathlon Sustainability

1min
page 3

NIBS EXTRA

1min
page 3

Paws for thought

1min
page 2

Tronillos procession

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page 2

Going global

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pages 1-2

Let’s Rock

1min
page 1

START YOUR ENGINES!

1min
page 1
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