More doctors Nadal house NO SMOKING ON THE BEACH
THE Balearic Islands was the Spanish region with the greatest increase in registered doctors last year.
According to the National Statistics Institute (INE), the number of registered healthcare professionals increased by 4.3 per cent in the Balearics in 2022 with 245 new doctors joining the public or private health care sector the highest rise in the country above La Rioja (4.1 per cent) and the Canary Islands (3.9 per cent).
There are currently 458 doctors for every 100,000 inhabitants, which is actually one of the lowest totals in the country only above Andalucia (442) and CastillaLa Mancha (402).
The same figures reveal that there are now nearly one million active healthcare professionals throughout Spain including all health professions, from doctors and nurses to pharmacists, physiotherapists, psychologists, chiropodists, opticians and veterinary surgeons.
In 13 of the 15 professions analysed by the INE there were more women than men. The groups with the highest percentage of women were speech therapists (93 per cent of women), occupational therapists (90 per cent) and nurses (84 per cent).
TOWN HALLS in Mallorca could soon ban smoking on the beach.
A Spanish law is currently being drawn up based on national and European residue legislation that could be used by local councils to prohibit smoking on the sand due to the generation of cigarette butt refuse.
Until now, the Balearic Islands Government could only advise beachgoers not to smoke under the ‘Platges sense Fum’ (‘Smoke free beaches’) campaign, but the future Royal Decree will reportedly authorise local councils to ban smoking completely and fine smokers who do so.
The law up also attributes a responsibility to tobacco producers in the treatment
of cigarette butts. According to European regulations, this type of refuse is classed as single use plastics, due to the presence of this material.
The Balearic Islands Environment department has filed allegations to the national law currently being processed to speed up the treatment of cigarette butt refuse and suggest the creation of a system for the deposit and return of this type of waste through specific
and sustainable containers, which would be given to the customer when buying cigarettes.
The law already foresees the installation of specific waste bins for butts, but the regional government believes this will be insufficient given the presence of cigarette butts on the floor everywhere.
Nearly 21,000 cigarette butts have been cleared from beaches in Mallorca since January alone.
THE finishing touches are being made to the spectacular new mansion being built for tennis star Rafa Nadal and his partner Mery Perelló in Mallorca.
The property is located on a 7,000 square metre plot of land in Porto Cristo with panoramic views of the bay and is expected to be ready for the family to move in this month.
Moored in the sea opposite is Nadal’s famous 370 metre catamaran that the champion inaugurated last year.
The area is said to have great sentimental value for the Manacor tennis ace.
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Image by Zen HP/Shutterstock
SMOKE FREE: Smoking has been banned on a beach in the Canary Islands.
Now more doctors.
Image by DC Studio/Shutterstock
Reuse and recycle Welcome rain
A MALLORCA recycling association managed to reuse 2,090 tonnes of objects last year and prevent the emission of more than 11,940 tonnes of carbon dioxide into the atmosphere.
Fundació Deixalles (Waste Foundation) has just published their annual report for 2022, revealing that they managed more than 2,825 tonnes of waste products, mainly clothing (1,400 tonnes), large objects such as furniture and mattresses (811), electric and electronic devices (240), toys (292) and books (81.5).
Up to 74 per cent of the to
tal amount of waste received could be reused, with the rest going to recycling plants.
Among the foundation’s most successful projects last
year was ‘Fem que Circuli’ (‘Make it circulate’, a play on words as fem means ‘rubbish’ in Catalan), a circular economy programme carried out in collaboration with the tourism sector and which enabled the collection and reuse of 116 tonnes of hotel waste. Fundació Deixalles also carried out environmental education programmes with activities and workshops at 32 schools last year and has been working for more than 36 years in favour of the social and labour integration of vulnerable collectives.
THE rainy weather last week was welcomed by businesses in Palma city centre and in inland areas of Mallorca as most visitors were choosing to go there instead of the beach.
Spokespeople have confirmed that May has been much more profitable than the same month last year, while the opposite is the case for coastal shops, bars and restaurants in Platja de Palma and Cala Major, among other areas.
PALMA municipal rubbish collection company Emaya is currently working towards implementing a new ‘fair rate’ scheme.
The tariff will be launched over the next few months and will charge those who generate more refuse, mainly businesses, more for the service while users who recycle will obtain discounts.
Emaya has reportedly been working on the tarifa justa project for several years, carrying out reports, surveys and meetings with more than 50 organisations to define the best method.
Other businesses such as rentacar companies and inland organised excursions are also reporting higher profits than expected thanks to the weather.
In general, the summer high season has started very well for the Mallorca tourism and hospitality sectors and all signs suggest that this will be a record year all roundwhich is vital for businesses to
Fair rubbish rate
The main obstacle so far has been finding and applying a reliable and practical system to control the volume of waste, especially among large producers.
To do so, Emaya has announced that the ‘door to door’ collection service would have to be extended to private businesses as well as private households.
Palma Town Hall has added that the first step is to install
build up sufficient economic reserves to see them through the winter months.
On the downside, spokespeople for the tourism sector also reveal that average spending per person has dropped compared to last year, but explain that this is normal as the average in 2022 was ‘abnormally high’ following the end of the Covid travel restrictions.
organic waste containers throughout the city that are accessed with a resident’s card and send the information straight to Emaya, who will then apply the discounts to users’ rubbish collection bills. A similar system will be applied at the ‘green point’ recycling sites.
Extra doctors
THE regional Health department was looking to employ an extra 120 GPs this week ready for the summer season.
The Servei de Salut on Wednesday June 7 organised a public employment call at Son Llàtzer hospital in Palma to hire the new family doctors on an interim basis to cover the holidays of regular doctors on the islands.
According to the Health department, the new recruits will be given interim contracts for three months’ duration in order to “ensure their loyalty” in the face of the current lack of this type of professionals in the Balearic Islands.
Most of them will rotate through the different health centres in the region throughout the summer according to the holidays taken by the longterm doctors.
There are currently 752 general practitioners working in the Primary Care departments of health centres throughout the region, 585 of them in Mallorca.
EWN 8 - 14 June 2023 euroweeklynews.com NEWS 2
RECYCLING: Many waste products were reused in 2002.
Image by Fundació Deixalles/Facebook
Club demolition
THE Spanish government has ordered the expropriation of the old Social Club and swimming pool and the bridge linking the Bahía Mediterráneo building with the Passeig Marítim in Palma, both of which will be demolished as part of the renovation work being carried out in the area.
Unemployment down
UNEMPLOYMENT in the Balearic Islands fell by 20.5 per cent in May compared to the same month last year, the largest drop in Spain. The region closed the month with more than 601,500 workers registered with the Social Security, over 34,700 more than in 2022 and 49,265 more than April.
Park closed
THE Balearic Island Port Authority has ordered the closure of the Port Petit children’s play area in Palma’s Molinar neighbourhood due to safety reasons after a series of deficiencies were detected in the park’s structure, reportedly caused by wear and tear. It was only opened in March 2022.
Semi-private jet
A SWISS airline is offering flights to Mallorca from Munich and Zurich on a ‘semiprivate jet’ starting at €695. The service run by Travelcoup combines business class with the advantages of a private jet, such as avoiding security queues and one golf bag per person free to carry on board.
Vrooom vroom!
THE authorities have dismantled an illegal remotecontrolled car racing track set up on rustic land without a licence in Felanitx. The track had caused repeated complaints by nearby residents due to the loud noise and the area has now been returned to its natural state.
No nightclubs please
MORE than 300 businesses have applied to occupy one of the 30 establishments in the new Club de Mar yacht club currently being built in Palma.
Nearly 100 of these are pubs and nightclubs, which according to Club de Mar director José Luis Arrom are barred from the new facilities as the idea is not to turn the site into a new nightlife area.
Applicants also include shops, souvenir outletswhich Sr Arrom has also warned they do not wantpharmacies, tobacconists, and nautical construction and representation companies, among others.
Four of the stores will
be reserved for bars and restaurants, which the managing board hopes will be occupied by renowned chefs that attract a higher class of customer.
Port pollution clampdown
THE Balearic Islands Port Authority (APB) has launched a series of actions and projects to reduce pollution at ports throughout the region.
Improving air quality, boosting renewable energy use and efficient lighting are among the goals set by the APB.
One of the strategies carried out by the management body is known as Cold Ironing, a system to connect boats to the terrestrial power line while they are docked.
This reduces polluting gas emissions and noise generat
ed by ships’ auxiliary engines during standby operations as well as while passengers and crew are embarking and disembarking.
The Cold Ironing system was first trialled and implemented successfully at Palma port and will now be exported to Alcudia, as well as Ibiza and Menorca next year.
Air quality is a major concern for the APB, who fitted sensors in five ports it manages including Palma and Alcudia to measure pollution and noise in order to define the approach to improvement projects.
The selection of businesses will be carried out at the end of this year, with the new premises scheduled to open ready for the summer 2024.
Renovation work on the
Club de Mar has coincided with the improvements being carried out on the Passeig Marítim, which combined will constitute a thorough reconversion of the area.
Change welcome
THE change in the regional government as a result of the elections on May 28 was welcomed by Mallorca hoteliers as an ‘end to ideologic interventionism’ and an opportunity to continue growing.
Acting Economic Model, Tourism and Employment councillor Iago Negueruela was the target of much of the criticism on behalf of the Mallorca Hotel Business Federation (FEHM) who claimed the councillor’s policies were holding the sector back, such as the cap on new tourism accommodation vacancies enforced
Unsafe school access
THERE are too many cars around schools in Mallorca.
This is the summary of an investigation launched by pedestrian association Vianants en Lluita and parents’ group federation FAPA.
Among the safety risks for children detected by the study are excess volume and speed of traffic, lack of space to arrive on foot or by bicycle, narrow pavements, badly parked vehicles and the absence of pedestrian crossings, among others. Up to 12 schools in Palma have taken part in the study, with the man
agement performing a ‘critical walk’, ie walking to and around the centre, and informing Vianants en Lluita of the issues encountered. The organisation then informs each school about the possible solutions to comply with accessibility regulations, which are reportedly not met in up to 99 per cent of cases.
One of the worst offenders is Marian Aguiló school in Palma, which is located on an avenue with four traffic lanes and a pedestrian bridge and has been described by Vianants as “an example of a dangerous environment for children.”
by the Balearic Islands Government in a bid to prevent overcrowding.
Sr Negueruela replied to these accusations by highlighting the good work done by his department, proving “it is possible to grow without creating new tourism vacancies”, as quoted by a local news outlet.
The outgoing councillor made the statement during his press conference last week to present the latest unemployment figures, which he pointed out show a new historic record for employment on the islands.
RESIDENTS on Palma’s Passeig Marítim have joined forces to create a neighbourhood association to defend their common interests.
Among the issues on their agenda are the poor illumination of the road, noisy bars, street drinking parties and the party boats that have become an ongoing problem at weekends.
“We believe that our demands have gone unheeded,” a spokesperson for the platform told a local news source.
The group will unite residents in Santa Catalina, Son Armadans and El Terreno neighbourhoods and hopes that the common front will encourage the authorities to take their demands into consideration.
For further information about the association email avvp.mar itim.palma@gmail.co m
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YACHT CLUB: Palma’s Club de Mar is currently being built.
FOR the fifth consecutive year, organic farmers have chosen to break away from conventional plastic and adopt a biodegradable alternative to cover their crops.
This environmentally friendly alternative, provided by Mallorca Ecological Production Association (APAEMA) and supported financially by the Mallorca Preservation Foundation (MAPF), has successfully replaced conventional plastic and prevented an area equivalent to 50 football fields from being covered in nonbiodegradable materials.
This year, up to 20 farms have joined the project, resulting in the use of around 170 kilometres of biofilm, weighing 3,000 kilograms.
This significant quantity of biodegradable plastic has successfully replaced conventional polyethylene, which is commonly used in farming.
Plastic mulch is widely used in professional vegetable production as an effective weed control technique. It offers several advantages, including reduced labour costs, easier work for farmers, and accelerated crop harvests.
However, one of the main challenges associated with plastic mulch is its proper disposal once it becomes waste.
Biodegradable plastic, on the other hand, completely solves this problem. It decomposes and incorporates into the soil within months.
UBER landed in Mallorca this week with an initial fleet of 40 luxury vehicles.
The leading private transport company will operate with the logo Uber Mallorca and was due to enter service today, Thursday June 8 in Palma, Calvia, Andratx and Llucmajor following a favourable ruling by the Supreme Court that enabled this type of company, including rivals Cabify, to work on the island.
The regional government had filed a lawsuit against the awarding of licences for private transport vehicles, known as VTCs (Vehículo de Transporte con Conductor) in Spanish, together with the Mallorca Taxi Drivers’ Association, who are direct competitors of this kind of ser
Feathered friends
THE Balearic Islands Environment department has sent 15 specimens of red kite to Andalucia to reinforce the population in the southern region.
vice and stand to lose a significant portion of business.
Finally the lawsuit was dismissed and 225 VTC licences were awarded in the Balearic Islands, with more vehicles set to dock in Mallorca over the coming weeks.
An explosive discovery
A GROUP of tourists this week discovered an unexploded hand grenade on Can Picafort beach.
The startled beachgoers found the device, said to be quite old and deteriorated, among some rocks near Plaza Cervantes.
They immediately called the 112 emergency helpline to report the discovery and moments
A TEAM of 50 volunteers cleared out more than three tonnes of rubbish from the Avenc del Camí cave in the Puig de Maria in Pollença this week.
The Avenc del Camí is a cavity more than 30 metres deep and 15 metres long that until now was almost totally blocked up by the amount of
later a detachment of Local Police officers from nearby Santa Margalida arrived at the scene, cordoned off the area and established a safety perimeter to prevent any danger to passersby.
The first patrols of the Guardia Civil and TEDAX bomb experts arrived shortly afterwards and examined the grenade, which appeared to have no explosive charge.
Preservation foundation Uber is here Cave clean-up
rubbish that has been deposited there for decades.
Until the 1990s it was used as a rubbish dump for the Puig de Maria hermitage and as a ‘rubbish bin’ for passersby.
The cleanup operation took
PROVERB OF THE
place over several days and was organised jointly by several entities and organisations including Pollença Town Hall.
The rubbish cleared included bottles, cans, plastics, organic waste and even a fridge.
The birds were hatched in Mallorca and will go towards repopulating the Sierra de Cazorla, Segura y las Villas nature park near Jaen, the largest protected area in Spain and the second in Europe.
This is the third consecutive year that the Balearic government has collaborated in the repopulation project and has so far sent 30 red kite chicks to the Andalucia province.
The safe extraction of the birds was made possible thanks to the collaboration of several entities and organisations.
The chicks were kept at the installations managed by the Consortium for the Recovery of the Fauna of the Balearic Islands (COFIB) in Santa Eugenia.
The remaining birds in the nest were ringed and equipped with tracking devices to monitor them.
1840
Meaning an image can tell a story better than words. This was invented by an advertising executive, Fred R Barnard, to promote his agency’s adverts.
UK.
EWN 8 - 14 June 2023 4 euroweeklynews.com NEWS
Image by Maksim Safaniuk/Shuterstock
UBER: With an initial fleet of 40 vehicles.
WEEK
“A picture is worth a thousand words.”
The year the first postage stamp was created in the
EXCLUSIVE: One musician’s take on fake news
GENERALLY speaking, Euro Weekly News tends to interview musicians and other artists who have a direct link with Spain and wherever possible the areas where we publish.
In the case of American musician and lawyer, Alan Chapell, it was the topic of one of his most recent compositions that caught our attention. With Spin, he sings about the way in which the media, especially cable news in America simply seems to be powerful enough to have people believe whatever Spin they put on the news.
Speaking exclusively to EWN Alan explained “I was in Florida and started watching Fox News and it suddenly dawned on me that this type of station no longer report news but was intent on changing people’s perceptions in an incredible way.
“That’s a lot of power and its frightening as cable news moves so far away from what we were used to viewing.”
The chorus of the song appears influenced by Video Killed the Radio
Star by The Buggles and as Alan acknowledged this, he said “Maybe without realising it, I have transplanted and updated the concept of change within the music scene to
To
reflect the change in news reporting.”
With the growth of social media of all types and the way in which story headlines are often aimed at
luring readers in (known as clickbait) even if the story is different to what it appears, however at EWN we are always trying to improve the way in which our headlines encourage views honestly.
Alan currently fronts a fivepiece band in which he sings and plays keyboards and it includes violinist extraordinaire Lorenza Ponce who has played with such rock luminaries as Bon Jovi, Hall & Oates, Sheryl Crow and many more.
Alan Chapell is a unique character, the product of years of travelling the world, honing his craft and moving seamlessly through musical genres, Chapell’s lush sonic pallet falls somewhere between the progressive pop rock of Bryan Ferry and the jangle rock nuance of 10,000 Maniacs.
During the pandemic and lockdown, he was a prolific writer and composer with a catalogue of some 120 songs, many of which are yet to be released.
Earlier in his career, he became disillusioned with music and after
returning from a retreat in India, he took time out to qualify as an Attorney specialising in Human Rights and European Union Law but whilst he still practices, he couldn’t keep away from performing.
Indeed, after America started to emerge from lockdown, he was able to perform to small audiences on a solo basis which he says was “A real tonic which is why I have started playing keyboards in the band again instead of simply being the singer at the front.”
The first Chapell album The Redhead’s Allegations, produced by Jerry Harrison of Talking Heads fame was released in 2017 with a further five following, the latest Two Fishes compares the fact that he has two children, one who grew up in the aftermath of 9/11 and the second much younger daughter growing up now in the digital age.
There’s a new double album on the way and Alan hopes that one day he will be able to perform in Spain, especially as his partner is Latina.
EWN 8 - 14 June 2023 5 FEATURE euroweeklynews.com
CELEB INTERVIEW
enjoy the music visit https://thisischapell.com/
Credit: Bill McMenemey/Chapell
Alan Chapell and Lorenza Ponce
Embracing the fun
AMONGST Gen Z and Millennials in America, cosplay is big deal. Dressing up as your favourite character from a comic book or graphic novel is a pastime my generation just doesn’t understand. But then, we moved to Spain, and Seattle Comicon is nothing on the Spanish fiesta.
Last June, my husband, Jeff, and I needed to head into Lugo to visit a local home improvement centre. Our first indication that something different appeared in the form of a small Roman legion about a kilometre from the old city. Lugo’s old city is surrounded by an intact Roman wall, so a Roman legion would seem to fit
right in, if it was the year 30AD. However, this was 2022, and men wandering around in Roman garb carrying swords and shields seemed, well, out of place. And then, the cave people strolled by.
“What is happening?” asked Jeff.
“It’s Spain. It could be anything.”
As we approached the parking garage the streets became crowded with more Romans and cave people (Castros). Walking amongst the hoards, we saw makeshift forts and catapults. Emperors and Empresses. Children sword fighting. It was as if the entire town had joined a theatre group. Or lost their
collective minds. In that moment we saw the poster for Arde Lucas.
The fiesta celebrating Lugo’s Roman past with sieges and violent reenactments between Romans and Castros. The battle for the old bridge. Incredible. We were the only citizens not dressed appropriately and we felt out of place. But not this year.
Arde Lucas begins on June 24. Jeff and I have our Roman togas and we’re ready to dive in like the locals we are. We will banquet with the best of them and storm the ramparts. Catapulting ourselves into the past and embracing the fun. We can’t wait!
Kelli Field is an American expat writer/blogger living in rural Galicia, and a volunteer for Age in Spain. Some of her other writing about moving to and living in Spain can be found at www.vivaespanamovingtospain.com
If you'd like to get in touch with Age In Spain, we can be reached at info@ageinspain.org (+34 932 209 741) www.ageinspain.org
Driving licence
Anna Ellis
IN view of the proliferation of internet pages offering the chance to obtain a driving licence without the need to take any kind of knowledge test, either theoretical or practical, Spain’s government Department for Traffic (DGT) reminds us that in Spain it is essential to pass a test to obtain a Driving Licence.
NonEU nationals who already have a licence must exchange it for a Spanish one if they are citizens of countries with which there is an exchange agreement.
In the absence of an exchange agreement with the country of origin, it is compulsory to pass a theoretical and a practical test.
In recent weeks, Guardia Civil’s Traffic Department has been investigating several web pages of this type where customers are offered the chance to obtain a legal Spanish Driving Licence simply by paying an amount of money and sending photos and information.
EWN 8 - 14 June 2023 6 euroweeklynews.com FEATURE
Classic Car Club Mallorca
THIS month’s Car Run was organised by Gerton Bijlholt and Cindy, with help from Helen Pitt. It was called the ‘East Coast Eco Tour’ and, as the title suggests, the Car Run took us along a route that took in the southeast and east coast of Mallorca.
It was well attended by 37 people bringing along a variety of classic cars even with a bad weather forecast. We had four new members, Raphael and Ilke (in a gorgeous powder blue Chevrolet 3100 Pick Up Truck) and Michael and Ann Katrin (in a stunning red Porsche 356). We
would like to warmly welcome them into the Club.
The route was particularly interesting and enjoyable because for many of us this was the first time we had
Es Jardí Festival
ES JARDÍ, a new summer music, culture and gastronomy event in Mallorca, is taking place from June 17 to August 6 at the Mallorca Live Festival venue in the former Aquapark in Calvia.
Fira de ses Herbes fair
and rock band MClan on July 23, as well as a revival show entitled Children of the 80s on June 25 with a performance by Spanish electronic music legends OBK.
THE traditional Fira de ses Herbes herb fair takes place in Selva from today Thursday June 8 until Saturday June 10.
driven on some of these roads. It was also 91 kilometres long, which meant we gave our cars a good run!
We were asked several questions related to the route, and after careful deliberation and a tie break question, the winners were announced.
In first place were Lou Sutton and Katie Handyside, in second place were Pedro and Anne Alomar and in third place was Pierre Bonjour.
Congratulations to all the winners!
Concerts will be on Fridays, Saturdays and Sundays with a reduced capacity “to offer a premium experience and maximum comfort for attendees,” according to the organisers.
The cycle kicks off on Saturday June 17 with David Bisbal, one of the most famous and iconic Spanish pop singers and dancers of the last two decades.
Other big names include Carlos Sadness on July 7
Global phenomenon Bresh, an Argentinian show labelled as ‘the most beautiful party in the world’, will visit Calvia on July 6.
Two tribute acts, Abba The New Experience (June 30) and Abbey Road The Beatles Show (July 15), and a show by leading Cuban orchestra Los Van Van (July 9) are just some of the many other events and surprises.
For further information visit www.esjardimallor ca.com.
Classical ballet
THE International Ballet Company will visit Palma Auditorium on Friday June 16 for a gala of classical ballet soloists.
On this magical night, ballet enthusiasts will be able to enjoy the most impressive solo performances from some of the most beloved ballets of all time.
The principal dancers will perform a series of worldrenowned pieces including Swan Lake, Don Quixote, The Nutcracker, Le Corsaire, Scheherazade, Les Sylphides, La Esmeralda and Harlequinade, showcasing their talent and providing an unforgettable show for all lovers of art and dance. A unique opportunity to enjoy classical ballet at its best. The show starts at 8pm, for further information and to book visit www.auditoriumpalma.com
The fair is dedicated to the promotion of products related to the world of herbs and includes a wide range of activities including exhibitions, live music, a market, dance performances, street decoration, poetry reading and more.
The Fira de ses Herbes was first held in 1999 to celebrate the use of herbs in the manufacture of medicinal and cosmetic products, as cooking condiments and as decorations in celebrations, among other uses.
For a full programme of events visit the Selva Town Hall website www.ajselva. net.
Laughter therapy
MARRATXI Town Hall is organising a laughter therapy session on Saturday June 10 from 11am to 1pm at Can Carbonell (Calle Sicilia 18, Local 4).
According to session leader Mariló Santaella: “Humour prolongs life. A laugh generates changes in moods that influence the organism and help to alleviate certain ailments and prevent others.
“Laughter and good humour are a way of seeing and living life from the perspective of joy instead of anger. A happier way of facing everything that happens to us and every situation we have to resolve.
“Laughter therapy is about practising different techniques in order to achieve the best laughter.”
Mariló revealed that the main benefits of laughter include helping to cope with anxiety, reducing stress thanks to the production of certain hormones, helping to alleviate depression by favouring a more optimistic outlook, and improving selfesteem.
Tickets for the ‘Risoterapia’ session cost €20, for further information and to book call Mariló on 638 614 546.
EWN 8 - 14 June 2023 euroweeklynews.com SOCIAL SCENE 8
ECO TOUR: The event was well attended by 37 people.
Image by Classic Car Club Mallorca
Why retirement planning matters
It is never too early to start thinking about how you will finance your golden years. Even if you are already retired, you should regularly review your arrangements to ensure you continue meeting your retirement goals.
Approaching retirement
Make sure you are on the right track financially by asking yourself the following questions. There may be steps you can take today to help make your retirement goal a reality.
• Will I be able to afford to retire when I want to?
• What is the best strategy for withdrawing from my business or employment?
• What options do I have for my pensions?
• Will I be able to retain my existing wealth and assets?
• Do I want to spend my retirement abroad?
Let’s say that you plan to retire in Spain within the next few years. You may have concerns about whether you can afford your preferred lifestyle without having to sell exist-
By Cathal Rochford, Partner,
ing assets. Perhaps you have a business to sell and are unsure how best to convert your years of hard work into a retirement nest egg. Then there are the complex residence and tax implications of living in a different country.
Here, professional financial advice can prove invaluable, especially with an adviser who understands Spain. They can take a holistic view
of what you have – your savings, investments, assets, pensions – together with what you want – your timeline, income requirements, legacy wishes – and an objective assessment of who you are – your circumstances, goals, risk appetite – to design a personalised retirement plan for you.
Already retired
Regular reviews allow you to adapt your strategy to suit your changing circumstances and goals, such as incorporating new family members, addressing health issues or relocating. It enables you to keep up with the ever-changing tax and pensions landscape, including new opportunities that could work in your favour.
Your pension options
Pensions are usually the foundations of retirement, so deciding what to do here may be one of life’s most important financial decisions. Pensions are complex and there is more choice than ever, so you need to take care.
You might benefit from consoli-
dating several UK pensions into one to provide a coherent, more cost-effective investment platform for your retirement income.
Britons moving or resident abroad may have the option of transferring UK pensions to a Qualifying Overseas Pension Scheme Qualifying Recognised Overseas Pensions Schemes (QROPS). Be aware, however, that Spanish tax regulations now determine that transfers from the UK (and other third country) pensions into an EEA scheme, including QROPS, makes the fund value liable to local income tax. If you have not yet become tax resident in Spain, you have a limited opportunity to transfer your pension out of the UK without this hefty tax liability.
Take regulated, specialist advice before making pension decisions to protect your benefits and establish the best option for you.
Retiring in Spain
If you plan to retire in Spain, review your retirement strategy early. You need to consider your residence
status and cross-border tax implications in a post-Brexit world and adapt your estate planning to suit Spain’s different succession rules.
And when reviewing and weighing up all the options for your pension funds, it’s important to take the local Spain tax implications into account.
Careful planning is the key to minimising taxation and maximising the available opportunities so you can enjoy the retirement you want for as long as you need. For the best results, take specialist, crossborder advice.
Tax rates, scope and reliefs may change. Any statements concerning taxation are based upon our understanding of current taxation laws and practices which are subject to change. Tax information has been summarised; individuals should seek personalised advice.
Keep up to date on the financial issues that may affect you on the Blevins Franks news page at www.blevins franks.com.
EWN 8 - 14 June 2023 9 FEATURE euroweeklynews.com
Blevins Franks
Solidarity beach bar
MALLORCA’S first ‘solidarity beach bar’ is now open for business.
The chiringuito is named Tabgha a reference to a city in Israel featured in the Bibleand is located on Portals Nous beach at the foot of the church.
In fact, the establishment is run by the Church itself with the aim of raising funds for crisishit families in Mallorca who are unable to access a house.
The Bishopric is looking to raise €800,000 over the next year to open a shelter for needy residents in Palmanova
A POULTRY farm in Llucmajor has been fined €200,000 for a serious offence against environmental laws.
As reported recently by the Euro Weekly News, residents near the installations had been complaining about the bad smells coming from the farm for more than four years.
Inspectors from the regional government’s Environment department launched an in
before they obtain a licence in 2024 to house up to 24 people.
Charity Cáritas is also involved in the project, insisting that all proceeds from the beach bar will be destined to the future shelter that, they say, meets all the necessary social, ethical and environmental criteria.
PRESS EUROPEAN
DENMARK
Spud-slide
Tabgha will open from 9am to 9pm every day closing two hours earlier than most chiringuitos to avoid disturbing residents until the end of September, with the eight employees explaining the charitable nature of the business to customers.
For further information visit www.tabgha.es.
Chicken farm fined
vestigation and found that the owners did not have the obligatory Integrated Environmental Authorisation, a permit required for farms of more than 40,000 chickens.
According to a local news source, the Llucmajor farm reportedly has nearly 135,700 animals.
The fine for such an offence ranges from €20,000 to €200,000. The Govern finally decided to enforce the highest possible penalty due to the severity of the case, including the fact the owner also runs another farm subjected to this requirement and cannot claim he was not aware of it.
A 57-YEAR-OLD lorry driver was arrested in Denmark after potatoes he was transporting littered the bridge linking the Funen and Zealand islands where Odense and Copenhagen are located. He was charged with causing reckless endangerment to life after cars were affected by the slippery surface.
THE NETHERLANDS
Busy drones
ROTTERDAM port announced on June 1 the formal opening of the Netherlands’ first vertiport for non-piloted aerial vehicles, following the landing of a multirotor drone there. The devices will eventually be used for inspections and monitoring transport operations, the Port of Rotterdam authority reported.
BELGIUM
Here we are
SEALS, which had practically disappeared from Belgium before the end of the last century are gradually returning to its beaches and coasts. Numbers are difficult to calculate, although the Royal Belgian Institute of Natural Sciences estimates that there are now around 100 grey seals and 200 harbour seals.
GERMANY
Berry bad
A GERMAN consumer campaign called for supermarkets to boycott strawberries grown near Spain's vulnerable Doñana wetlands. Drought and unauthorised irrigation have dried out the wildlife haven in the southwest of the country and the needs of growers were making the problem worse, the association said.
FRANCE
Charge it
FRANCE is opening its first electric car battery factory near Douay. The length of six football pitches, the plant is part of a ‘reindustrialisation’ initiative which the administration and business leaders hope will turn the Hauts-de-France region into ‘Battery Valley’, electric vehicles’ response to Silicon Valley.
NORWAY
Oil change
DESPITE leading using renewable energy domestically, Norway remains committed to its oil and gas operations for exports. The government has now asked energy companies to increase explorations in remote areas, including the Barents Sea, despite pressure from climate activists to curb oil and gas activities.
FINLAND
Fencing match
FINLAND is completing the first section of a €380 million fence along part of the 1,300kilometre border it shares with Russia. Constructing the first three kilometres of the four-metre tall fence topped with barbed wire began in April near Imatra, which is just 200 kilometres from St Petersburg.
IRELAND Sea change
FISHING has been a way of life for generations along the Irish coast but changes in the industry, including a post-Brexit cut in quotas allied to government plans to scrap boats could see it disappear. This could mean the ‘final death knell’ to their livelihood, fishing professionals warned.
ITALY Green mystery
ENVIRONMENTAL officials in Venice confirmed that the chemical fluorescein was responsible for the bright patch of green water around the Rialto Bridge. Fluorescein, a nontoxic chemical, is chiefly used in underwater construction to identify leaks and in eyedrops to pinpoint lesions and foreign bodies.
PORTUGAL
Not bothered
CHINA is allegedly prepared to ‘exert influence’ on some of Portugal’s largest businesses to pressure the country into reverting a decision that effectively bans Huawei from the burgeoning 5G networks. Portuguese operators were untroubled, they said, as there are already 7,000 5G antennas installed throughout the land.
UKRAINE
No hiding place
WAR-TORN Ukraine has a problem with insufficient or inaccessible air-raid shelters, residents said. Too many of them throughout the country, and not only in Kyiv, were closed or hidden to passers-by, despite countless official warnings and complaints from the local population as well as powerless local officials.
SWEDEN
Moving on
HVALDIMIR, a Beluga whale first spotted in the Arctic four years ago wearing a camera harness and presumably Russian-trained, left the Norwegian fjord where he was last seen and has appeared in Sweden. He is now travelling very quickly “possibly seeking a companion or a mate,” marine biologists said.
EWN 8 - 14 June 2023 10 euroweeklynews.com EUROPEAN PRESS/NEWS
Tabgha beach bar is now open for business. Image by tabgha.es
STAT OF WEEK €3.25 billion
is the amount that Spanish banks saved last year by not increasing the amount of interest they paid on deposit accounts, according to a Bank of Spain report.
BUSINESS EXTRA AI mistrust
Rescue op
ONLINE fashion firm Asos is raising £80 million (€93.2 million) from shareholders and borrowing £275 million (€320 million) from Bantry Bay Capital, which recently bailed out Superdry. Following £291million (€339 million) losses, the funding would give it “financial headroom” to return to profitability, Asos said.
Getting lower
SPAIN’S Consumer Price Index (IPC) stood at 3.2 per cent in May, nine10ths below April’s 4.1 per cent rate, the Institute of National Statistics (INE) announced, the lowest since July 2021’s 2.9 per cent. The reduction was due to the moderation in food prices and lower fuel prices, INE said.
Top earner
ALEX MAHON, chief executive of Channel 4 which narrowly avoided privatisation last year, could receive the channel’s highestever annual income. Mahon, who received a total of £1.2 million (€1.4 million) in 2021, could receive approximately £1.4 million (€1.6 million) if she has met 2022’s top performance targets.
New faces
TELEFONICA added another three directors to the board of its Telefonica Audiovisual Digital (TAD) subsidiary, which is responsible for paid television channel Movistar Plus productions and key areas including the purchase of audiovisual rights. This was TAD’s second major renewal in the last two years.
Powering down
ROLLSROYCE is planning cuts that could see the loss of around 3,000 jobs as the engineering giant revealed that it intended to transform “several areas” of the business. The announcement followed reports that the company has plans to merge several departments “to improve organisational efficiencies.”
MORE than 99 per cent of products from Australia and New Zealand are now UK dutyfree.
UK businesses can sell more easily to Australia and New Zealand thanks to the trade deals, the first negotiated from scratch since Brexit.
Under the deals’ terms, tariffs on all UK goods exported to Australia and New Zealand will be removed.
This unlocks unprecedented access to these markets, slashes red tape for digital trade and work visas while reducing prices for favourites with UK consumers.
The deals will deliver an
Duty-free for Oz and NZ
services trade amounting to AU$4.4 billion (€2.71 billion) in 202122.
A SURVEY of 1,000 people by the Prospect union found that 58 per cent wanted AI regulation in the workplace.
economic boost by driving bilateral trade up by 53 per cent with Australia and 59 per cent with New Zealand, the UK government said.
“Businesses up and down the country can now reap the rewards of our status as an independent trading nation,” Business
IBERDROLA recently put the finishing touches to its alliance with Norway’s sovereign fund, managed by Norges Bank Investment Management.
Iberdrola will hold a majority stake of 51 per cent in an agreement to invest in 1265 MW of new, renewable energy capacity inside Spain, of which 20 per cent will be windpowered and 80 per cent produced by solar plants.
Both parties have now informed Spain’s National Securities Market Commission (CNMV) they have complied with all the legal requirements necessary for formalising the agreement.
This will be directed at speeding up decarbonisation in Spain and could be extended to other countries in future.
The portfolio of assets amounts to approximately €1.2 billion, which Iberdrola will control and manage, providing op
Settling up
MORE than €28 billion has been withdrawn from Spanish banks since the beginning of this year for early repayment of mortgages and loans as interest rates rose. Another €17,000 billion was transferred to investment funds.
Addressing the General Council of Economists on May 31, Alejandra Kindelan, president of the Spanish Banking Association (AEB), emphasised that despite these withdrawals, deposits were double those of 2008.
It was also “too soon” to gauge the effects of rising interest rate, Kindelan said, although Spanish banks were “somewhat more protected from turbulence,” she added.
and Trade secretary Kemi Badenoch said.
“We can seize new opportunities, driving economic growth, innovation and higher wages.”
Trade between the UK and Australia was worth AU$10 billion (€6.077 billion) in 2022, with twoway
The UK is Australia’s 12thlargest trading partner and second largest source of foreign direct investment, amounting to more than AU$1 trillion (approximately €6.098 trillion) in 2022.
New Zealand’s trade with the UK, its seventhlargest trading partner, amounts to an annual NZ$1 billion (€2.98 billion).
The UK estimates that the deal will add £800 million (€926 million) a year to its gross domestic product.
Iberdrola-Norges alliance
than 500 additional MW of renewable energy in the Iberian Peninsula.
Norges Bank Investment Management, which manages Norway’s sovereign wealth fund, has approximately €1.4 trillion of assets currently under management, and holds stakes in more than 9,000 companies. It owns 1.4 per cent of all the world’s listed companies and 2.5 per cent of every listed company in Europe. The bank is also a principal Iberdrola shareholder, with a stake of more than 3 per cent.
The UK government should safeguard jobs from technologies like ChatGPT, they said.
Prospect’s findings coincided with calls from some tech industry figures to restrict the rapid development of AI.
Only 12 per cent of participants believed the government should not interfere because the benefits were likely to outweigh any disadvantages.
Goldman Sachs’ analysts recently predicted that AI could eventually replace 300 million people, affecting roughly 25 per cent of the global workforce, although many lost jobs would be replaced by new posts working alongside AI.
Happy earnings
SPAIN’S tax earnings increased in April, although more slowly than in April 2022.
Higher wages brought tax authority Hacienda an overall 10.8 per cent increase in revenue, including 11.3 per cent more from income tax (IRPF) and 25.6 per cent more corporation tax.
IVA addedvalue tax and nonfiscal taxes also rose in April.
erational, maintenance and other corporate services.
Meanwhile, Iberdrola and Norges are already working on further plans to expand their strategic alliance by more
Shunning the office
EMPLOYEES in the UK spend less time in the office than their counterparts anywhere else in the world.
According to a new survey of 9,500 workers and 6,650 companies by global workplace experts, Unispace, the former would prefer to reduce their office days still further.
Meanwhile, 74 per cent of firms wanted less working from home.
The Unispace study found that only 34 per cent of UK employees were in the office for four or more days a week and just 21 per cent were happy to spend that much time working outside the home
Seventy five per cent of employers pointed out that career progression including pay rises, promotions and bonuses would be negatively impacted for hybrid workers, a belief that was shared by only 59 per cent of employees.
Owing to this relationship, Norges has decided to make its first direct investment in renewable assets in Spain with Iberdrola, the largest electricity company by capitalisation in Europe.
Duty-free option
AENA has again put out to tender dutyfree shops in Madrid and Catalonia.
The company has invited bids from 13 international operators from Europe, Turkey, Bahrein, Korea, China and India ‘who showed interest’ in the first round.
Dufry, which runs the Madrid and three Catalan shops until next October, has already been allocated the AndaluciaMediterranean dutyfrees and controls Canary Islands outlets through Canariensis.
This could put the Swissowned company out of the running, as managing four shops in Madrid and Catalonia would give Dufry 90 per cent of Spain’s dutyfree trade, when existing rules limit this to 80 per cent.
Tax earnings brought in €90.68 billion so far this year, a rise of 5.5 per cent 6.5 per cent excluding refunds the Agencia Tributaria said.
This was the highest monthly increase to date, but some way short of the government’s 8.8 per cent forecast for 2023.
Alternatives
THE British Chambers of Commerce (BCC) plans to bring together economists and business leaders in an economic advisory council.
“We’re a year away from a general election and this is a pivotal moment for business,” the BCC’s director general Shevaun Haviland said.
“That is why we have set up the council for expert advice and feedback.”
The announcement also comes at a moment when the BCC and other groups are jockeying for position as potential replacements for the scandalbeset Confederation of British Industry (CBI).
euroweeklynews.com • 8 - 14 June 2023
SYDNEY: Free trade agreement between UK, Australia and New Zealand.
RENEWABLE ENERGY: Iberdrola and Norway’s sovereign fund invest in decarbonisation.
Photo credit: CC/Sardaca
12
Photo credit: Flickr/Stephen Mellentine
FINANCE
LONDON - FTSE 100
DOW JONES
3M 94,28 94,58 3,31M American Express 162,72 163,99 158,23 4,08M Amgen 214,27 220,60 211,71 4,81M Apple 180,09 180,12 176,93 65,20M Boeing 207,96 210,23 206,00 5,09M Caterpillar 209,07 210,57 206,04 2,97M Chevron 152,16 153,74 149,74 9,83M Cisco 49,74 50,08 49,26 17,79M Coca-Cola 60,00 60,17 59,77 13,10M Dow 49,00 49,35 48,51 4,46M Goldman Sachs 316,40 324,67 314,02 3,25M Home Depot 288,39 289,22 279,98 4,28M Honeywell 193,86 194,30 190,47 1,89M IBM 129,82 130,15 127,78 4,13M Intel 31,13 31,94 31,02 52,52M J&J 154,54 155,04 153,15 7,86M JPMorgan 137,58 138,23 135,45 12,02M McDonald’s 287,87 288,04 283,60 2,30M Merck&Co 110,93 111,59 109,88 6,60M Microsoft 332,58 333,53 324,72 25,78M Nike 103,63 104,60 102,90 11,60M Procter&Gamble 143,96 144,12 142,45 6,07M Salesforce Inc 212,90 215,36 206,06 20,79M The Travelers 171,30 171,92 168,24 1,11M UnitedHealth 493,63 498,78 486,11 3,36M Verizon 35,72 35,90 35,42 19,76M Visa A 226,50 226,71 222,43 6,97M Walgreens Boots 30,32 30,63 30,01 7,05M Walmart 147,41 147,90 145,94 6,71M Walt Disney 88,59 89,06 87,11 11,80M InterContinental 5.348,0 5.374,0 5.320,0 21,67K Intermediate Capital 1.417,50 1.428,00 1.402,00 33,39K Intertek 4.211,0 4.217,0 4.202,0 5,08K ITV 71,46 71,52 70,10 753,06K J Sainsbury 277,40 278,20 275,00 221,83K Johnson Matthey 1.796,0 1.798,0 1.774,0 33,77K Land Securities 626,20 628,00 610,60 109,95K Legal & General 232,50 232,50 229,70 726,59K Lloyds Banking 45,09 45,15 44,70 4,28M London Stock Exchange 8.508,0 8.528,0 8.446,0 59,43K Melrose Industries 483,90 494,30 483,40 209,93K Mondi 1.270,50 1.272,50 1.260,00 107,96K National Grid 1.055,50 1.060,00 1.053,00 259,78K NatWest Group 263,42 265,00 262,20 886,90K Next 6.442,0 6.474,0 6.436,0 12,14K Ocado 363,38 369,00 360,80 428,54K Persimmon 1.243,8 1.246,5 1.220,5 126,95K Phoenix 561,00 562,00 554,80 77,43K Prudential 1.134,00 1.134,00 1.113,50 614,52K Reckitt Benckiser 6.280,0 6.296,0 6.252,0 2,03K Relx 2.542,00 2.561,00 2.542,00 192,16K Rentokil 637,00 639,40 634,20 464,02K Rightmove 539,40 540,40 532,80 223,36K Rio Tinto PLC 5.005,0 5.015,0 4.957,0 394,10K Rolls-Royce Holdings 146,78 148,60 146,20 816,09K Sage 867,40 871,40 866,80 87,54K Samsung Electronics DRC 1.377,00 1.382,00 1.377,00 3,00K Schroders 460,6 461,4 458,1 62,52K Scottish Mortgage 683,56 683,80 676,54 232,88K Segro 829,80 833,80 807,80 151,25K Severn Trent 2.689,0 2.708,0 2.689,0 9,44K Shell 2.274,0 2.280,0 2.262,5 644,75K Smith & Nephew 1.205,50 1.206,00 1.201,00 92,38K Smiths Group 1.610,50 1.620,00 1.602,50 26,37K Spirax-Sarco Engineering 11.030,0 11.060,0 10.950,0 7,48K SSE 1.866,00 1.872,50 1.858,00 187,06K St. James’s Place 1.146,50 1.146,50 1.132,50 64,94K Standard Chartered 654,80 656,00 644,40 664,65K Taylor Wimpey 116,85 117,05 115,75 626,50K Tesco 263,40 264,10 262,00 1,02M Tui 526,00 530,50 521,00 200,20K Unilever 4.029,0 4.038,5 4.024,0 312,86K United Utilities 1.031,00 1.035,00 1.026,00 107,42K Vodafone Group PLC 76,43 76,85 76,10 6,17M Whitbread 3.335,0 3.354,0 3.324,0 50,02K WPP 870,20 874,60 867,80 96,25K Most Advanced Credo Technology Group Holding Ltd +23.25% 9.31M Carvana Co. +22.29% 49.92M Chewy, Inc. +21.57% 24.681M Veeva Systems Inc. +19.67% 3.924M Pure Storage, Inc. +19.07% 19.046M PT Hanjaya Mandala Sampoerna Tbk +16.67% 21,954 LATAM Airlines Group S.A. +13.79% 576,756 TAL Education Group +12.89% 10.509M NexGen Energy Ltd. +11.66% 6.809M DiDi Global Inc. +10.94% 8.832M Alteryx, Inc. +10.55% 5.575M Most Declined Dollar General Corporation -19.51% 18.141M Okta, Inc. -17.83% 19.669M Lucid Group, Inc. -16.24% 160.41M Operadora de Sites Mexicanos, S.A.B. de C.V.-14.18% 32,077 C3.ai, Inc. -13.22% 83.087M Henderson Land Development Co Limited -10.95% 139,000 nCino, Inc. -10.33% 2.581M PVH Corp. -9.53% 3.849M ProKidney Corp. -7.66% 197,073 Advance Auto Parts, Inc. -6.67% 9.432M Crocs, Inc. -6.34% 2.091M COMPANY PRICE(P) CHANGE(P) % CHG NET VOL
C LOSING P RICES 5 J UNE 3I Group 1.954,50 1.962,00 1.947,50 60,08K Abrdn 201,00 201,00 198,30 69,35K Admiral Group 2.327,0 2.328,5 2.299,0 1,99K Anglo American 2.383,1 2.396,5 2.342,0 544,81K Antofagasta 1.427,50 1.431,50 1.407,50 96,32K Ashtead Group 4.979,0 5.002,0 4.958,0 36,61K Associated British Foods 1.859,5 1.864,5 1.838,5 64,37K AstraZeneca 11.584,0 11.644,0 11.530,0 89,28K Auto Trader Group Plc 612,20 619,00 612,00 133,18K Aviva 402,83 402,90 398,40 539,64K B&M European Value Retail SA538,00 539,00 531,20 362,66K BAE Systems 938,40 948,60 937,60 132,09K Barclays 155,06 155,40 153,98 2,01M Barratt Developments 474,25 475,30 470,20 258,72K Berkeley 4.035,0 4.042,0 4.001,0 9,25K BHP Group Ltd 2.302,00 2.312,00 2.289,00 217,43K BP 469,35 471,75 464,00 3,49M British American Tobacco 2.558,5 2.562,5 2.543,0 271,24K British Land Company 355,50 356,20 348,00 208,65K BT Group 149,50 149,75 148,55 848,08K Bunzl 3.144,0 3.167,0 3.144,0 13,41K Burberry Group 2.179,0 2.180,0 2.145,0 52,64K Carnival 837,6 843,0 826,2 85,32K Centrica 118,85 120,30 118,65 1,07M Coca Cola HBC AG 2.377,0 2.381,0 2.364,0 34,99K Compass 2.211,00 2.216,50 2.198,00 15,41K CRH 3.861,0 3.877,0 3.846,0 27,28K Croda Intl 6.154,0 6.200,0 6.150,0 17,15K DCC 4.698,0 4.700,0 4.660,0 10,18K Diageo 3.340,0 3.349,5 3.331,5 22,91K DS Smith 310,30 311,30 309,70 126,00K EasyJet 476,60 479,00 474,60 173,37K Experian 2.849,0 2.866,0 2.847,0 76,83K Ferguson 11.680,0 11.765,0 11.655,0 6,03K Flutter Entertainment 15.920,0 15.970,0 15.765,0 12,86K Fresnillo 690,05 691,65 683,27 40,83K Glencore 426,10 426,75 421,65 2,28M GSK plc 1.351,10 1.353,00 1.336,58 96,08K Halma 2.410,0 2.425,1 2.410,0 15,20K Hargreaves Lansdown 814,19 814,20 806,80 35,93K Hikma Pharma 1.793,00 1.796,50 1.788,00 2,95K HSBC 595,50 598,40 594,40 4,13M IAG 156,72 157,20 156,25 934,02K Imperial Brands 1.716,00 1.717,00 1.704,50 126,00K Informa 698,80 704,00 698,60 114,61K COMPANY PRICE(P) CHANGE(P) % CHG. NET VOL COMPANY CHANGE NET / % VOLUME US dollar (USD) ........................................1.0770 Japan yen (JPY) 149.63 Switzerland franc (CHF) 0.9738 Denmark kroner (DKK) 7.4489 Norway kroner (NOK) 11.839 MAKE THE MOST OF YOUR MONEY WITH US See our advert on previous page 0.85952 1.16391
C LOSING P RICES 5 J UNE Units per € COMPANY PRICE CHANGE OLUME(M) NASDAQ C LOSING P RICES 5 J UNE M - MILLION DOLLARS THE ABOVE TABLE USES THE CURRENT INTERBANK EXCHANGE RATES, WHICH AREN’T REPRESENTATIVE OF THE RATE WE OFFER currenciesdirect.com/mallorca • Tel: +34 687 906 226 EWN 8 - 14 June 2023 euroweeklynews.com FINANCE 14
Sister act
ASDA is finalising a deal to buy UK and Irish petrol forecourts owned by its sister business, EG Group, in a deal worth £3 billion (€3.5 billion), enabling the supermarket to enter convenience retailing. A formal announcement is expected soon, revealing their plans to create a combined business worth about £10 billion (€11.66 billion).
No chance
A SEVILLA judge rejected an appeal by infrastructure company Urbas and a group of creditors against an earlier decision to accept Cox Energy’s €500 million offer for the now bankrupt engineering company, Abengoa. The company based in Cox (Alicante), and headed by Enrique Riquelmen, made a lastminute bid, preempting Urbas which Abengoa’s board preferred.
Skilled immigration needed
LATEST figures on UK immigration have highlighted the need for visa reform, the Association of Professional Staffing Companies (APSCo) maintained.
Tania Bowers, Global Public Policy director at APSCo, the professional recruitment sector’s trade association, conceded there were “clear concerns” on immigration levels.
“But we can’t overlook the fact that the UK does still desperately need skills to support economic growth and these skills must come from international experts,” Bowers said,
Tender tenterhooks
SPANISH company CAF is waiting to learn if it has won the contract to build 117 trains for Portugal’s state run rail operator Comboios de Portugal (CP).
As well as CAF, headquartered in Beasain (Guipuzcoa), Alstom (France) and Stadler (Switzerland) are in the running for the €819 million contract for 55 regional and 62 local trains. Portugal can no longer build its own
after the Bombardier plant closed in 2004 and although not a tender stipulation the three finalists are committed to investing in local production, knowing that CP will take this into account.
Each of the rolling stock manufacturers has a production centre in Spain but none is currently present in Portugal.
No takeover
explaining the government had missed out on an opportunity to introduce shortterm business visas for toplevel and highly skilled contractors.
“This would alleviate some of the resourcing challenges facing the UK, without impacting immigration on a longerterm basis,” the APSCo director claimed.
Other countries including Denmark and Germany were already adapting to this requirement, and the UK needed to play catchup in that respect, Bowers pointed out. “Aside from the positive impact that this would have on immigration numbers, it would also strengthen the attractiveness of the county for highly skilled contractors.
“Access to shortterm visas appealed to those working in the flexible labour market,” she said. “As other countries introduce more adaptable working routes, the UK will continue to lose its competitive advantage for attracting key skills.”
ROYAL MAIL’S biggest shareholder dismissed rumours of a takeover bid for the UK postal group but warned it should “adapt” to be successful.
Billionaire Daniel Kretinsky, who owns 25 per cent of Royal Mail’s parent, International Distributions Services (IDS), also said that the company should remain on the stock market where British citizens could invest in its shares.
Going further
FRENCH hotel group B&B appointed Enrique Francia, former chief executive of Spain’s VIPs fast food chain, as the company’s nonexecutive president for Spain and Portugal, in a bid to ramp up the company’s expansion in the Iberian Pensinsula. At present B&B owns 45 hotels in Spain and 11 in Portugal which have more than 4,000 rooms between them.
SKILLED IMMIGRANTS: Visa reform required to attract key employees.
Photo credit: Pixabay/jstarj
EWN 8 - 14 June 2023 15 FINANCE euroweeklynews.com
EXTRA
BUSINESS
BUSINESS EXTRA
More shops
CORNWALL fashion brand Seasalt will open new stores following buoyant sales that tripled profits to £6.5 million (€7.56 million) in the year ending January 2022. Turnover rose by more than a third to £96 million (€111.75 million) according to its latest accounts sent to Companies House.
Classy glass
COCACOLA EUROPACIFIC PARTNERS is expediting plans to supply glass bottles to the 10,000 Spanish bars and restaurants currently offering only cans or plastic bottles. Environmental concerns apart, the company found that 25 per cent of consumers would happily pay 20 cents more for a glass bottle.
Stepping aside
ANNE BODEN, founder of Starling Bank, is bowing out as chief executive in a move that she explained was made to skirt a potential conflict of interest, as she is a major shareholder. Boden, who launched the online bank in 2014, will remain on the board as nonexecutive director, she said.
Small spender
IN 2022, Spain spent approximately €5.2 billion of the €37 billion it has so far received from Europe. This amounted to 0.4 per cent of the country’s gross domestic product and 20 per cent of what it had budgeted for, according to official European Commission figures reported in Spanish media.
Pub gloom
ONLY 29 per cent of UK hospitality business owners told a survey by data and analytics company Nielsen that they regarded the coming year with optimism. Energy costs were the biggest worry for the remainder, with overheads including dearer food and higher wages rising by 81 per cent in the past year.
Another Brexit fiasco
A GIANT warehouse for postBrexit border checks costing £25 million (€29 million) lies empty.
Nearly 12 months after construction was completed, the complex at Portsmouth’s international port the UK’s secondbusiest Channel port is unused.
The UK government announced over a year ago that checks on fresh European Union imports would be delayed for the fourth time as ministers discussed how to carry out inspections.
The new border strategy will be revealed this month but meanwhile Portsmouth city council, which owns the port, has bills to pay.
The council received £17.1 million (€19.9 million) of public money but
even after modifications to cut costs, Portsmouth city council, needed a loan to cover the shortfall.
Mike Sellers, director of
Saved its bacon
Portsmouth’s international port, recently told the British media that the facility has cost the city’s taxpayers £5.4 million (€6.3 million), which must be repaid.
As the council was liable for any defects in the building’s first year, it also had to pay to run the facility’s lights and freezers last summer when electricity prices were at their highest. This cost another £500,000 (€581,767).
In all the council must find £10 million (€11.6 million) to cover its debts, maintenance and the government’s changed requirements.
“We built to a design specified by the government, we did what they asked, and we built it in time,” Sellers said. “It’s frustrating.”
Supervisor raps knuckles
THE Bank of Spain homed in on the low interest rates paid on bank customers’ deposits.
In an article in its most recent Financial Stability Review, Spain’s supervisor pointed out that the country’s banks had fallen short of its expectations regarding the effects of the continuallyincreasing interest rates on clients’ savings.
Against what it described as “a backdrop of sharp monetary policy tightening,” the article studied the links between bank deposit costs and the Euribor, referring to the basic rate of interest used in lending between banks on the European Union interbank market. This is also used as a reference for setting the interest rate on other loans.
In particular, the Financial Stability Review stated that the remuneration on sight deposits accounts where withdrawals can be made without notice, or after a very short period was currently ‘insignificant’.
It went on to point out that of the 352 basis points equivalent to 3.5 per cent that the Euribor increased in 2022, only 0.7 per cent was
DEPOSIT ACCOUNTS: Interest too low, Bank of Spain said.
PROPERTY developer, British Land, which has been hit by rising interest rates. was relegated from the First Division, in other words London’s FTSE 100.
In contrast, online groceries group Ocado managed to hold on during the latest quarterly review of the 100 most highlycapitalised companies. This automatically relegates any falling below 110th position.
Ocado, the worstperforming FTSE 100 company so far this year, was on the brink of ejection until a lastminute recovery of its share price allowed it to retain its position. The company’s shares have plummeted by 85 per cent since September 2020, when demand for home groceries deliveries soared during the pandemic.
Selfsufficient
passed on to customers’ savings.
In the case of time deposits, where withdrawals cannot be made before a set date or for which notice of is required beforehand, banks have only passed on 4 per cent of this increase.
Amazon sweetener
AMAZON will offer termtime working for UK parents and grandparents with children to look after.
The new contract enables them to take six weeks off in the summer and two weeks at Easter and Christmas.
The GMB union, which is fighting to be the first trade
union in Europe to be recognised by the company, said the flexible working offer was welcome, but most Amazon employees would prefer better wages.
“They’re telling us that they can't live on poverty pay,” a GMB spokesman told the BBC.
Workers at Amazon in
Coventry went on strike for 16 days so far this year, calling for their hourly wage to be increased to £15 (€17.46)
The company, which employs more than 70,000 people in the UK, said it does not believe that union recognition “is appropriate” and prefers to “talk directly” to staff.
Cerealto sacrifices Siro
MULTINATIONAL agrifoods group Cerealto Siro Foods announced that it was closing its Venta de Baños (Palencia) biscuit factory after failing to find a buyer.
When Siro, a household name in Spain, was on the brink of bankruptcy in 2022, it was acquired by the Afendis and Kempner investment funds.
The new owners and workers, together with the central and regional governments, signed a Competitiveness Plan for the group
and approximately 1,900 employees.
This guaranteed continuity of employment and production in Venta de Baños, Aguilar de Campo (Palencia) and Toro (Zamora), dependent on finding a buyer for the Venta de Baños factory.
Despite a ‘farreaching, worldwide search involving 60 potential buyers’, no deal materialised which, under the terms of the agreement, has resulted in shutting down the Venta de Baños plant.
FOR nine hours on May 19 between 10 am and 7pm, Spain generated enough green electricity via solar, wind and hydroelectric power to cover 100 per cent of the mainland’s demand.
Although this has happened before, the supply was not sustained for such a long period, the stateowned Electricity Network of Spain (REE) explained.
Furthermore, this occurred on a normal weekday when consumption was high, not at the weekend or on a national holiday when there was less demand.
The weather was also favourable, with abundant sunshine and moderate wind.
Boots marches on
SEB JAMES, president and managing director of Boots, more than doubled his pay last year.
He took home £3.8 million (€4.4 million) after the pharmacy and beauty chain tripled profits as pandemic restrictions were lifted, reporting a pretax profit of £137 million (€159.3 million).
This was £44.5 million (€51.8 million) more than in 2021, a result helped by closing 44 underperforming outlets, according to Boots UK. In all, the company plans to close a total of 200, reducing the number of stores to 2,232 by the end of summer 2023.
EWN 8 - 14 June 2023 www.euroweeklynews.com FINANCE 16
PORTSMOUTH: Border checks warehouse still empty.
Photo credit: CC/Raystorm
Photo credit: CC/ASillyLittleMan
OUR esteemed politicians are all still well at it; fully on the ‘campaign trail’ that is. Dontcha just wish they were all actually on that ‘Old Chisolm Trail’ and disappearing over the horizonforever?
Told you the Left would continue its assault on the policies of the right until the general election hove into view. The dissent and misery simply keeps on coming. (If I hear ‘it’s going to get even worse’ one more time… …) Even if they can’t specifically blame any of the other parties, or indeed suggest any resolutions, they methodically keep delivering reports which depress the populace so much the voters are virtually prepared to do anything to experience a bit of cheer. The leftie union leaders’ latest disturbing efforts not only managed to disrupt the enjoyment of the football final and Derby racing fans, but even long awaited concerts by popular poppers Beyoncé and Elton John.
One truth you can be assured of is that when you hear a politician tell you something has been made ‘absolutely clear,’ you can bet your bot
Ongoing misery
tom dollar it’s about as clear as a pea soup’er at midnight. No, the only clarity to emerge from this lot is that they are a bunch of self indulgent, incompetent con merchants, interested in nothing further than the preservation of their own, often utterly worthless skins and unworthy to even represent a flagpole leave alone the flags that adorn them.
Come back Mr Fawkes, all is forgiven. To think in days of yore we actually looked up to this untrustworthy bunch, believing they were the undisputable champions of our once great country? How blindly we followed their decisions and ‘leadership’ and were utterly convinced that mere mortals like us could never hope to understand the workings of ‘The House’ with its proud history and pomp, which has endured over hundreds of years. Most of our present day politicians are in fact the traitorous and highly dangerous ‘enemy within’.
Many of them would rather side with their opponents than risk losing their privileged positions or a few
CALCULATED RISK OUR VIEW
votes. They are terrified of standing up to the ‘politically correct’, woke inspired cultural threats and the ever increasing denials of freedom of speech, which threaten to stifle today’s ingenious GB citizens. As far as this ol’ boy is concerned, I’d never actually vote for any of them.
Once again the Labour contingency has been ranting on about lowering the voting age to 16. This is of course merely a blatant effort to gain votes from naive youngsters who have never lived under the left, are effortlessly impressed by Starmer and Rayner’s rhetoric and consequently a mite easier to con than many of their adult compatriots.
Ah well, with the continuing encroachment of Artificial Intelligence (coupled with Artificial Insemination!) we’ll probably soon be existing without the pomposity of a single political pillock anyway. Keep the faith.
Love Leapy leapylee2002@gmail.com expatradioscotland.com
Mon. Fri. 1pm till 4.
THE decision by Spanish President Pedro Sánchez to call a general election in July rather than December was to say the least unexpected.
He is either very brave, stupid, or highly manipulative as it was clear from the local elections just passed that there is a marked swing towards the right of centre and in some cases even further right.
As his coalition with Podemos is clearly crumbling and deputy PM Yolanda Diaz is forming her own left wing political party, he wants to alert voters to the possible spectre of a PP/Vox coalition and there is a general feeling that the majority who don’t look back on the Franco years with pleasure might worry about Vox gaining any more power.
Many residents of big cities such as Madrid have second homes in coastal areas of Spain and Sunday July 23 is really in the middle of holiday season so those who can afford to do so (and are most likely to be Partido Popular voters) will almost certainly be away on holiday so will have to be bothered to apply for a postal vote.
Many businesses across the country, both large and small have been adversely affected by the numerous new laws that have been created and the fact that it is now often more beneficial for people to remain unemployed rather than work in lower paid jobs, so in the main, they are keeping their fingers crossed for the return of the PP.
As an aside, the Gibraltar Schengen situation is back on hold and what should have been a done deal has the potential to be dead in the water.
EWN 8 - 14 June 2023 17 FEATURE euroweeklynews.com
OTHERS THINK IT LEAPY LEE SAYS IT
Leapy Lee’s opinions are his own and are not necessarily representative of those of the publishers, advertisers or sponsors.
Good work LETTERS
Dear Leapy
I would just like to thank you for your column. What you write in the Euro Weekly, it’s a shame our country has gone to the dogs. I spend most of my time in Spain now and I just hate going back. Anyway all the best mate, keep up the good work.
Alex
Religious minority
Thank you Chris King for your article highlighting the plight of these families and persecuted members of our faith. Every voice that stands against oppression and raises awareness is a valued voice that calls for humanity.
Michelle
No understanding
I can’t understand how we love in a world where when you ask for help, as your life and your family are at risk, you get beaten and incarcerated. I really thank this article and I pray everyone in this world has the freedom to live their faith in peace.
Veronica
Spot on
Just wanted to say that this week’s report is spot on again. Hope you can post this on more social media sites where the young may stand a chance of seeing it. (not that they will change in any way !!)
Thanks and keep up the good work.
Best wishes,
Young generation
Tony Wiggins
Mother here of two Gen Z kids the age group Leapy refers to. He is so out of touch. My kids 18 and 22 are antidesigner. They walked to school and looked after themselves after school whilst I worked. They are antifast food, can both cook healthy food far better than previous generations.
They are frugal and prefer secondhand clothes which is now the fashion. They change their phones when they break. One of them is a teacher who gets in to work at 7am and is there till 5, going home to do marking. But will still give his seat on a bus to somebody more in need.
What they are is very open to different cultures and different sexual persuasions. Not a bad thing in my book. Incidentally they also read real books and write them. They open the door to people both in real life and metaphorically.
When are older people going to stop demonising this generation that are probably
the kindest, most respectful people alive today . Believe me they could learn a lot.
Fiona
Your job
Come on Leapy I know you have said before you are not interested in standing for Parliament, but let’s face it you are the man for the job.
With you as the new Prime Minister we might just stand a chance of putting the GREAT back in BRITAIN.
Anyway keep up the good work of spreading common sense.
Regards,
It’s obvious
Tony
Re letter from DMP edition June 1, ‘Electric scooters being misused and asking Leapy to write about it’.
Sorry to point out the obvious but the police probably do not read EWN. If people want to bring the misuse to the attention of the police and other authorities, may I suggest they speak directly to them? That way they will know of the problem and can choose whether it’s worth tackling it.
John Carrington
No chance
Hola, thinking how Mental Health is brought up so often now, do you remember a 1966 recording ‘They’re coming to take me away haha’ by Napoleon XIV?
Don’t think he would have got it released in today’s society
Raymond Wilby
The truth
Dear Leapy,
In response to your column in EWN this week, I would say that never were truer words written! While reading it, two descriptive words came to me immediately, ignorance and hypocrisy! As for respect, they wouldn't know how to spell it!
Ken, San Fulgencio
Tourists beware
My understanding is that it is not possible for Spanish police to issue penalty points to drivers driving under a British (or Irish) driving licence. Apart from all else, the British issue penalty points, whereas, the Spanish system awards every driver with 12 points, then takes them away as punishment for driving related offences. It would be sweet, however, if you already had nine British penalty points, and Spanish Plod came along and took the ning points off you, lol.
Allan Grieve
EWN 8 - 14 June 2023 19 HOROSCOPE/LETTERS euroweeklynews.com 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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PETS
Dog-sitters for mature pets
DOG-SITTERS can play a vital role for elderly pets. This is Jonti ,he is 16 years old. Still fit and loves to walk around, but there are times when he needs to rest at home. Rather short sighted now and a little deaf, being able to stay at home where all is familiar is a great comfort to both Jonti and his owner.
If you’re planning a trip register now to find petsitters in time. Whether your trip is short or long, you’ll know that sometimes you must leave pets at home. Young and senior pets in particular benefit from staying at home, so they can follow their routines undisturbed. Join our pet and housesitting network, and the sitters come for free!
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1. Register as a homeowner on HouseSit Match.com
2. Choose a Standard account (£69 per year) to ensure you can help online when needed
3. Create a profile with photos of your pet and the house
4. Post an advert for the dates when you want to go away. Sitters apply and you choose. How does it work?
Forbidden pets
UNDER the new Animal Welfare Law in Spain there are certain animals that you soon won’t be able to keep at home as pets. In approximately four months this rule will be enforced.
HouseSitMatch can help you find suitable sitters. Join our network for a small annual fee. You get ID checked for safety and then build your advert saying when you are going on holiday. Housesitters see your advert, they respond and you choose the sitter who’ll care for your pets.
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PETS and pet parents
dread bath time, we get drenched along with our furry friends and they are nervous, nobody has fun. Hopefully with these top tips from veterinarians bath time can be made easier. They recommend you consult them before purchasing the shampoo as they can rec
Bath time
ommend one that is suitable to your pet that won’t cause any allergic reactions.
They also recommend you brush your pet before
and after the bath to remove excess fur.
They have advised using an untangling brush and conditioner as well as shampoo. After the bath towel dry your pet as much as possible and they have confirmed it is ok to use a hairdryer as long as it is on the lowest setting and held at a safe distance from the animal.
Lastly, make sure to have plenty of treats and give them plenty of snuggles to calm them down throughout the process.
In Spain one in every three households has a pet, Spanish households have 15 million pets compared to 6.6 million children under the age of 15.
These pets range from dogs and cats to rabbits and even Vietnamese pigs. But under this recently approved law things are about to change, as it lists the species ‘considered invasive’ and therefore should not be kept in the home.
The list includes some very popular pet choices. From the bird family, you are prohibited to have parrots, lovebirds, parakeets, and species from other countries. Exotic
VETERINARIANS have warned of an increase in Leishmaniasis in dogs, a disease that is caused by the bite of a sandfly or mosquito that has been infected by a parasite. In Spain, Canine Leishmaniasis is endemic, ‘with an average prevalence of 15 per cent although it affects one in two dogs in some areas such as the Mediterranean basin.’
More care should be taken during the summer as the disease is more prevalent in high temperatures and humid conditions. Unfortunately, there is no cure for the disease but the treatment will control all the symptoms and your dog will be comfortable.
There are two types of Canine Leishmaniasis, one type is cutaneous and the symp
reptiles that you can no longer keep include snakes, iguanas, lizards, chameleons, or geckos. Rabbits, guinea pigs, chinchillas, mice, and hamsters are also banned.
Turtles as they are considered a vulnerable species can no longer be pets. Spiders are also on the list as they are considered dangerous as they can carry diseases that are very dangerous to humans. Vietnamese pigs and
hedgehogs have also been named and cannot be kept at home as pets either.
But don’t worry if you have one of these ‘prohibited pets’ the government doesn’t plan to round up all of our beloved pets. You will just have to contact your local environmental authority to inform them and they will issue an authorisation that will allow you to keep them as pets.
Pet alert
toms you will notice are exaggerated nail growth, and hair loss more specifically around the nose, eyes, and ears. You may also notice reddened areas on the skin, brittle dry fur, or even ulcers. The other type is visceral and its symptoms are sudden weight loss, loss of appetite, fever, decrease in muscle mass, and abdominal swelling. For both types, they may also have conjunctivitis, a runny nose, and coughing and diarrhoea.
Tips to prevent your dog from catching this disease: avoid walks in the evening when these insects usually manifest, mosquito repellents for dogs will also help, a product called Leishguard stimulates your dog’s immunity and so helps prevent the disease and there is also a Leishmaniasis vaccine but it is not 100 per cent effective.
As always for more information or if you are worried have a chat with your vet.
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POLICE/FIRE/AMBULANCE: 112 24 HOUR PHARMACY FARMACIA GASPAR REAL VICENS -PALMA 971 272 501 24 HOUR VETS EURO TIERKLINIC – LLUCMAYOR 971 441 213 EMERGENCY NUMBERS
Some popular pets have been banned.
Meet Jonti - He has dog-sitters care for him at home.
Photo credit: Flickr/Gioser_Chivas
LEISHMANIASIS: This disease is endemic in Spain.
Photo credit: Pixabay/isakarakus
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Fastest athlete passes away
JIM HINES , the American sprinter who became the first athlete to run 100 metres in less than 10 seconds, has passed away at the age of 76. His death was reported on Monday, June 5, by a news outlet.
In 1968 he crossed the finishing line in the Mexico Olympics 100m final in a blistering world record time of 9.95 seconds. There was a slight controversy over his time, which was first recorded at 9.89, but was later adjusted to 9.95 seconds.
The 9.89 was taken from a light beam across the finish line, while the official photographic process used Polaroid film and took a couple of minutes to process and read.
Hines held the world 100m record for a staggering 15 years, the longest period that any athlete ever held it. His time was eventually broken in July 1983 by fellow American sprinter, Calvin Smith, who ran a 9.93 seconds race.
Later in 1968, he was drafted by the legendary Miami Dolphins American football team. Hines managed 10 appearances for the NFL giants in 1969. He subsequently made just one appearance in 1970 with the Kansas City Chiefs.
In 1994, Jim Hines was inducted into the Texas Sports Hall of Fame, and in 2016, his talent was recognised by the Texas Track and Field Coaches Hall of Fame.
Kane tops Real Madrid’s wish list
ENGLAND captain Harry Kane is Real Madrid’s top target in the hunt to replace departing Karim Benzema. The news was reported on Monday June 5, by Guillem Balligue, Spanish football writer for the BBC.
Kane tops a list which contains Victor Osimhen (Napoli), Lautaro Martinez (Inter Milan), Kai Havertz (Chelsea) and Dusan Vlahovic (Juventus) and he is known to be very highly regarded by the Spanish club. Daniel Levy at Tottenham could scupper this though as he looks for in excess of £100 million.
With big names like Benzema and Eden Hazard leaving this summer Real Madrid should have some big money to play with but should Levy price Madrid out it would be a big pity for Kane.
With Harry Kane’s reputation of being a goal scorer of the highest level, as well as a leader on the pitch, his trophy cabinet is severely lacking and many hope that Kane is able to take the plunge and go with a club that can offer this, especially as Spurs won’t be playing Champions League football next season.
A news source reported that Tottenham have told Manchester United that
Kane is not for sale, but these are the tactics we expect to see in transfer season and we know that no deal is off the table until the window is closed.
Kane’s loyalty to Spurs has been incredible and he has accumulated 213 Premier League goals in his career. A move away from the Premier League might hamper his chances of sur passing Alan Shearer’s record of 260.
But records are records and certainly a cherry on top for footballers who aspire to great ness, but Kane currently has lit tle cake for his toppings and will no doubt be craving for a topflight title, a serious shot at a Champions League trophy or even a domestic cup.
It feels like it is time for him to move towards silverware, but with one more campaign left on his contract at Spurs, nothing is definite.
EWN 8 - 14 June 2023 euroweeklynews.com SPORT 24
Harry Kane is top of the list.
American 100m sprinter Jim Hines.
Credit: UPI/Wikimedia
Commons Public Domain