€4,475 raised for charity
FUNDRAISER Carol Baker who runs the Island Bar at Bella Luna has helped to raise a small fortune for Cancer Support Mallorca.
Rebecca Upton, the coordinator for Cancer Support Mallorca said: “We would like to give a massive thanks to Carol Baker and the residents of Bella Luna for the whopping €4,475 they raised for us!”
Speaking of the event, Rebecca said they had, “a fantastic day with incredible results thanks to the generosity of Bella Luna residents and their friends. Organised by Carol Baker who runs the Island Bar on the complex.
“The theme of the day was ‘Rock meets Pop’ which was taken very seriously with some residents flying in, especially for the Family Fun Day.”
The whole event included young and old alike: “There were games in and out of the pool for children, sports challenges run by Sunshine Fitness, the local gym, a raffle, a grand auction, a great barbecue and in the evening dancing to the band ‘We R Cumin’,” she added.
Property tax cuts WORLD CHAMPION CELEBRATIONS
AS of 2022, the Balearic Government collected a staggering €900 million from property transfer tax, the highest in Spain. The current rates range from 8 to 13 per cent, depending on the property’s value. However, Marga Prohens’ government is introducing significant reforms. Firsttime homebuyers under 30 and people with disabilities will have the tax completely waived for homes valued up to €270,000. For those under 35, as well as large families and single parents, the tax will be halved for homes of the same value.
These changes are part of a broader tax reform package that is set for parliamentary debate, where additional reductions may be discussed.
WORLD champion and Spanish football team goalkeeper, Cata Coll, was celebrated in a heartfelt tribute in her hometown of Portol on Friday, September 1. According to Local Police, more than 500 people joined the procession that culminated at the Son Caulellas Cata Coll football pitch at 6.40pm. Fans, donning tshirts with her name, eagerly awaited autographs and photos with the star.
Marratxi mayor Jaume Llompart, vice president of the Consell de Mallorca Pedro Bestard, and other dignitaries welcomed Coll. Llompart expressed his pride, stating, “I remember in 2013 when Cata
was champion fry, we just celebrated it here. I get excited as a coach, because I know the effort she has had to make to get where she has had to get, the barriers she has had to break down.”
The event featured a special gift a siurell in the shape of a goalkeeper and the unveiling of a 4x4 metre canvas with the words ‘Campiona
Cata Coll’.
Coll thanked the organisers and said, “We have not only won a cup, we have won something more. We have broken many barriers. Sport is growing and now the girls have more open doors, things are easier.” She added, “I am proud to be from Portolana and all this will never fade from my memory.”
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CATA COLL: Was honoured in her home town of Portol.
A fantastic day with incredible results.
Palm trees pruned on promenade
IN response to adverse weather forecasts and last weekend’s strong winds, the Balearic Islands Port Authority (APB) has commenced the pruning of 50 palm trees and two ficus trees along Palma’s promenade.
This action follows the advice of the Department of Parks and Gardens of the Palma Town Hall. The primary aim is ‘to guarantee the safety of the peo
ple who frequent this busy area and prevent possible accidents’.
Experts conducted a thorough analysis before the decision was made. They found that these specific trees showed signs of ‘deterioration and lack of stability’, particularly in their root systems. The root system is crucial for capturing water and nutrients.
The weight of the trees, coupled with their cur
rent fruit load, could cause them to break and fall, posing a risk to passers by. This risk is heightened in trees with a greater inclination.
The felling and cleaning process will be managed by professionals and will take place at predetermined times and within set perimeters.
This is to ‘minimise any inconvenience to users and neighbours in the area’.
Jazz quartet starts festival
THE Alcudia Jazz 2023 festival is set to commence on Saturday September 9, and leading the lineup is the Oriol Valles Quartet with their latest offering, ‘Cap Clar (The Changes, 2023)’. Catalan trumpeter Oriol Valles has crafted an album that is as timely as it is evocative.
The work is divided into two distinct parts. The central suite serves as a poignant reflection on the confinement experienced during the pandemic. Months later, the quartet recorded the remaining three pieces: ‘Asymptotos’, ‘Heh’ and ‘Cap Clar’.
Valles is joined by Andreu Pitarch on drums,
Xavi Torres on piano, and Giuseppe Campins on double bass. Together, they create a soundscape that promises to be both introspective and uplifting.
The festival runs from September 9 to 23 and features three concerts in total. Two will be held at the Auditori d’Alcudia, while the third is a free event at the Passeig Maritim of Port d’Alcudia.
Don’t miss the chance to experience this unique blend of emotion and artistry as the Oriol Valles Quartet takes the stage for the festival’s opening night.
EWN 7 - 13 September 2023 euroweeklynews.com NEWS 2
Michelle Obama
FORMER US First Lady
Michelle Obama is on holiday in Mallorca, reportedly staying with exUS ambassador Jaime Costos. She was spotted on Monday, September 4, dining in Puerto Portals under discreet Secret Service protection.
Child-free zones
TURKISHowned Corendon Airlines introduced an ‘Only Adult’ zone on its GermanyMallorca route. For an extra €45, passengers over 16 can enjoy a secluded 93seat area at the front, aimed at offering peace during flights.
Jewish culture
PALMA Jewish Culture festival runs from September 326, offering a rich array of free activities from cinema and live music to synagogue tours. The event celebrates Jewish culture and is part of the European Day of Jewish Culture.
Better flow
THE Mallorca Council has completed the asphalt paving of the Porreres ring road, improving traffic flow in the area. The €50,000 project, executed in collaboration with Porreres Town Council, also includes stormwater drainage services.
Scooter accident
A 65-YEAR-OLD woman was injured after being hit by a scooter on the pavement near Ses Estacions park in Palma on Sunday, September 3. Witnesses criticised the scooter rider’s recklessness. The victim, who has a heart condition, was taken to Son Espases Hospital.
Stranded yacht
ON Monday, September 4, visitors to Son Maties Beach, in Palmanova were surprised to see a ninemetre yacht stranded on the beach. The sailboat, which had been anchored in the area, lost its tethering and ended up resting on the shore.
Vermar festivities
PALAU REIAL: The event is a symbol of the island’s history.
During the meeting, President Galmes gifted each wine grower with a
screen print by artists
Robert Ferrer and Martorell. Galmes expressed
Festa des Ver
YOUR
49 STORIES IN THIS WEEK’S EDITION
The event serves not only as a celebration but also as a reminder of Mallorca’s rich agricultural and winegrowing heritage. The Festa des Vermar is deeply rooted in the community and continues to be a symbol of the island’s history and traditions.
CALVIA Town Hall has disclosed that a bakery in Magaluf has been subjected to a €60,000 fine for illicitly selling alcohol beyond the authorised hours.
Calvia’s police force exposed the bakery’s sale of alcohol at 5am. Under the tourism of excesses law, the period from 9.30pm to 8am is prohibited for the sale of alcohol. The bakery, in a precautionary measure, has also been temporarily closed.
Juan Feliu, the directorgeneral for activities, trade, offences, and sanctions at the town hall, commended the Local Police for their diligent enforcement of the
law. Feliu acknowledged that the measures and penalties may appear stringent, but he underscored the necessity of unwaveringly upholding regulations to ensure Calvia’s identity as a secure destination for both tourists and residents.
He emphasised that antisocial conduct and excesses have no place within their jurisdiction. Feliu said that the prime focus is on addressing excessive behavior and criminal activities.
With this purpose in mind, they have intensified efforts this summer, executing police operations that include undercover officers.
ON Monday, August 28, the Mallorcan government granted approval for the removal of the Catalan language prerequisite in the field of public health within the Balearic Islands. This move is part of a larger ‘strategy for the recruitment and retention of healthcare professionals’, where the requirement will transition into a meritbased consideration. To achieve this, the local administration intends to amend Law 4/2016, which deals with linguistic training measures. This law currently outlines the criteria for proficiency in the Catalan language within the
Tackling congestion
THE Council of Mallorca is taking steps to address the island’s growing traffic woes. President Llorenc Galmes, along with Minister of Territory, Mobility and Infrastructures, Fernando Rubio, announced a comprehensive load study to diagnose the state of vehicle circulation on the island. “We want to respond to a problem of saturation that all Mallorcans suffer at specific times,” said Galmes.
The study aims to gather data on the number of vehicles and the capac
ity of Mallorca’s road network. Galmes emphasised that the Council “will not look the other way”, and is committed to maintaining the island’s sustainable model.
The study will also involve the Port Authority and other organisations to provide figures on the number of cars entering Mallorca, especially during the high season. “Any measure adopted by the Council of Mallorca will always be in the hands of the sectors involved,” Galmes added.
Health Service sector. Through this modification, the selection procedures and staffing for healthcare roles will prioritise the engagement of the most qualified experts. The absence of official certification for a specific level of Catalan proficiency will no longer serve as a hindrance to entry. This initiative is aimed at ensuring that candidates are not discouraged by the language prerequisite during the application process, as stated by the ministry. This policy was articulated in both the PP’s governmental agenda and the pact with Vox.
THE president of Afedeco, the local trade association, Toni Gaya, has described this summer as ‘bad’ due to a significant drop in sales in August. According to Gaya, the July sales period ‘has absorbed the spending of customers in summer’. However, he noted that cruise ship tourism has been ‘a relief for shopkeepers in Palma’, as these tourists ‘spend the most’ in the Balearic capital’s shops.
Looking ahead, Gaya stated that if the Christmas market is relocated to Parc de les Estacions due to remodelling work, resources will need to be increased for cleanliness and safety. He also expressed support for transforming Palma into a large open shopping centre, a model that ‘has worked in Malaga and Barcelona’. Gaya concluded, “It is a project we have been working on for years.”
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Slump offset by cruisers EWN
HAS
THE President of the Council of Mallorca, Llorenc Galmes, welcomed the delegation of the 57th Festa des Vermar at the Palau Reial on Tuesday, September 5. Led by Binissalem mayor Víctor Marti and Vermar mayor Claudia Ripoll, the entourage extended an invitation to the island institution for the Vermar festivities, which kick off on Friday, September 15.
his gratitude to the guests and emphasised the significance of the
mar in Binissalem. “They are part of our history, of our tradition and they represent an agricultural and wine growing past and present that remind us of where we are and where we come from,” he said.
Credit conselldemallorca.cat
Bakery fined Catalan removed
Hear the classics
THE Rotary Club of Calvia International is hosting a classical music concert that promises to be a feast for the senses. Scheduled for Friday, September 8 at 6.00pm, the event will take place in the quaint church of Sant Pere in Buger, Mallorca’s smallest municipality.
Worldrenowned artists Antoni Lliteres, tenor, and Waltraud Mucher, mezzo soprano, will grace the stage, accompanied by pianist Pedro Aguiló. The trio will perform a range of pieces, including duets like ‘Love is a sweet light’ and ‘Lips are silent’, as well as opera classics such as ‘Musica proibita’, ‘Core ‘ngrato’, ‘O sole mio’, ‘Nessun dorma’, and ‘La donna e mobile’. Both tenor and mezzosoprano voices are celebrated for their ability to convey a wide range of emotions, and with Aguiló’s piano skills, the concert is set to be an unforgettable experience.
The entrance fee is €20, and tickets can be purchased at https://ticketib.com/de/events/conciertobeneficodemusicaclasica. Proceeds will support the Rotary Club’s ongoing charitable work in Mallorca, benefiting organisations like ASDICA, SOS Mamas, RANA, fundacion Deixalles, and Tardor.
Don’t miss this unique opportunity to enjoy worldclass music while supporting a good cause.
ALCUDIA’S stunning sevenkilometre beach and ancient Roman ruins, make it a mustvisit blend of beach relaxation and history, but is tourism destroying its traditional essence?
On August 18, over 60 individuals from the Movement Alcudienc gathered in Alcudia’s Placa de la Constitucio to voice their concerns about the increasing privatisation of public spaces in the town, according to a report in a local news source.
Members of the movement highlighted the diminishing free space available for the town’s residents, pointing to the surge in shops and eateries catering primarily to tourists.
The group expressed their unease about the significant changes Alcudia has experienced over time.
A return to tradition
ALCUDIA: A must blend of beach relaxation and history.
They lamented, ‘Alcudia is disappearing as a stable nucleus of coexistence and is becoming a showcase at the service of tourists.’
The activists also raised issues about the vanishing traditional shops, the privatisation of public spaces, the proliferation of inland hotels, the increase in tourist rentals, beach overcrowding, resource consumption, environmental degradation, and infras
tructure overload.
As a result of this tourismcentric model, they argued, the town is rapidly losing its unique identity, and the local inhabitants are being pushed out.
Furthermore, they highlighted the challenges in accessing housing due to soaring rental prices and the dominance of an unstable service sector.
The Moviment Alcudienc criticised recent policies,
stating that despite claims of addressing these issues, the authorities have merely introduced minor reforms.
They cited examples such as the law on circularity in the tourism sector, the moratorium on tourist places, and the law on waste.
The group urged the local council and opposition parties to implement more decisive measures.
They suggested opposing the removal of the moratorium on tourist places, regulating the number of tables that cafes can set up on their terraces, and allocating public spaces and buildings for residents to promote their active participation in the town’s public life.
Top Spanish tourist destination
THE Balearic Islands led the way in July, attracting 24.1 per cent of international tourists visiting Spain. They were followed by Catalonia at 22.9 per cent and Andalucia at 13.3 per cent. In July, Spain welcomed 10.1 million international tourists, an 11.4 per cent increase from the same month in 2022.
Year to date, Spain has
received 47.6 million international tourists. This marks a 20.9 per cent increase compared to the same period last year. The National Institute of Statistics (INE) estimates that tourists spent €59,964 million, a 25.3 per cent rise from the previous year.
The UK remains the leading source of tourists, sending nearly 9.8 million peo
PROVERB OF THE WEEK
ple, a 16.9 per cent annual increase. France and Germany followed, sending over 6.4 million and six million tourists respectively. In July alone, the UK contributed over two million tourists, a 7 per cent increase from July 2022.
Tourists from the UK, France, and Germany were the biggest spenders. UK tourists increased their
“A leopard can’t change its spots.”
Means that it’s impossible for one to change their character, even if they try very hard. It dates back to the Old Testament where it was said “Can the Ethiopian change his skin, or the leopard its spots?”
spending by 9.8 per cent, those from France by 21.8 per cent, and from Germany by 4.5 per cent. Total spending in July reached €13,853 million, a 16.4 per cent increase from July 2022.
8,000km of high speed railway in Spain.
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CREDIT: Shutterstock
Spot rare fish off the coast
FOR the past eight years, the Balearic Islands have been home to an invaluable database for recording rare fish species, known as DAPERA. The Balearic government has recently released a new nature brochure, the ‘Quadern de Natura’, summarising eight years of observations and discoveries.
Up to 2022, DAPERA recorded a total of 281 sightings across 48 different species. The butterfly ray was
the most frequently sighted endangered species, with 32 instances. Rarer species like Zu cristatus and Trachipterus trachypterus were observed only once each.
In terms of newcomers to the Mediterranean, the European parrotfish, yellowfin spiny mackerel, fivebanded seabream and smooth flutefish were the most common.
DAPERA aims to raise awareness of fish that are not commercially valuable but
may be threatened, and to collect data on new species. Factors such as the opening of the Suez Canal, increased maritime traffic, and climate change are contributing to the spread of these species.
The initiative encourages public participation. By visiting the Servei de Proteccio d’Especies website, you can report your own sightings, helping to expand our understanding of the Balearic Islands’ marine fauna.
Raising funds for charity
BOOK your place now for an upcoming event where local support can make a real difference.
The Cala Nova Cancer Charity is holding a charity event on Thursday, September 28 at the Secret Garden, Portals Nous. The funds raised will be given to the Association of Parents of Children with Cancer of the Balearic Islands (ASPANOB)
As well as providing a chance for people to catch up over a coffee the proceeds will go towards a worthy cause.
The aim of the charity is to improve the quality of life of children and young people with
cancer in the Balearic Islands, providing numerous free aid programmes aimed at meeting the needs of families who have to face this hard disease.
According to AnnaLisa, one of the organisers, the event has been held for the past 11 years. The €5 entrance fee includes coffee, cake and entertainment including a tombola and other competitions.
ASPANOB’s are also pleased to report that their new charity shop is going from strength to strength, dubbed by locals as the El Corte Ingles of San Agustin.
EWN 7 - 13 September 2023 5 NEWS euroweeklynews.com
Queen visits struggling food bank
ON September 4, Queen Sofia visited the Mallorca Food Bank Foundation, accompanied by Marga Prohens, the president of the Balearic Government. The visit came at a crucial time and highlighted the growing disparity between rising demand and falling donations due to the pandemic.
Raimundo de Montis, the president of the Mallorca Food Bank Foundation, revealed that the number of users has surged by 70 to 80 per cent postpandemic, while donations have plummeted by 50 per cent. He thanked Queen Sofia, stating, “she loves the Food Bank very much,” acknowledging her long standing support for the food bank.
Pedro Miguel Llorca Llinares, president of the Food Bank of Spain, noted, “society is aware that it is going through a very difficult and complex time.” He lamented that when families have to cut back, “it is very hard to ask for help.”
Llorca Llinares also revealed that European social fund aid will be unavailable in the first half of 2024, although there is hope for its resumption in the second half of the year.
Carlos Cortes, president of the Federation of Gypsy Associations of the Balearic Islands, urged for more governmental involvement. He said the aid they receive is less than before and called for the govern
Fighting pollution
THE global crisis of plastic pollution is wreaking havoc on marine ecosystems, but Marineland Mallorca is stepping up to make a difference.
Through its ongoing #NoPlasticsMarinelandMallorca campaign, the marine park is taking a multipronged approach to combat the plastic menace threatening our oceans and marine life.
ment, the Consell, and town councils to be “more involved with all the associations.”
The event was also attended by key political figures, including Gabriel Le Senne, Jaime Martinez, Llorenc Galmes, and Aina Calvo. The visit served not only as a platform to discuss urgent issues, but also as a call to action for greater community and governmental support.
Marineland has implemented strict policies to minimise singleuse plastics within its facilities and actively educates its visitors about the devastating impact of plastic on marine species. The park also collaborates with local organisations for annual beach and sea cleanups, aiming to remove plastic waste and raise community awareness on the importance of reducing, reusing, and recycling.
“Education and awareness are key,” said a Marineland spokesperson. “We provide interactive programmes to inform visitors about sustainable alternatives like reusable and biodegradable products.”
The marine park’s efforts extend to rescue and rehabilitation programmes for marine animals affected by plastic, ensuring they receive the necessary care for recovery.
Marineland Mallorca’s initiatives serve as a call to action for us all. By reducing plastic consumption, recycling properly, and supporting scientific research, we can join Marineland in preserving the vitality of marine ecosystems for the future.
EWN 7 - 13 September 2023 6 euroweeklynews.com NEWS
QUEEN SOFIA: Has been a long-standing supporter.
Sabotage foiled
FOUR individuals have been arrested by the National Police for allegedly attempting to sabotage La Vuelta Ciclista a España 2023.
The arrests took place on Saturday, August 26, in the Solsones region of Ilerdense, according to a National Police report published on August 29.
The suspects were caught redhanded on Saturday, as they were planning to activate a device designed to spill hundreds of litres of liquid on the road during La Vuelta. The incident was set to occur during the stage between the towns of Suria in Barcelona and Arinsal in Andorra on Monday, August 28.
The device was comprised of two drums, each with a 200litre capacity, along with a solenoid valve and a timer for activation. Concealed among the foliage, the device also included a hose that extended to the road, making it difficult to spot. The liquid, similar in appearance to motor oil, is currently undergoing forensic analysis to determine its exact composition.
The suspects had taken extensive precautions to avoid detection. At the time of their arrest, none were in possession of a mobile phone, and they had used sec
Sevilla’s ultimate eating challenge
LAST week the Almudaina Bar in Las Cabezas de San Juan, Sevilla, threw down the gastronomic gauntlet.
The Almundaina posted the challenge on Instagram: ‘ We bring to you all a challenge! A challenge anyone of you can get involved in. A 1,5 kg ALMUDAINA SAW.
‘Eat this 1,5kg Serranito consisting of: alioli, tomato, lettuce, ham, pepper, tortilla and chicken or pork fillet esto. Maximum time: 20min.
‘Prize: commemorative challenge bib and €50 voucher to use on @ivan foodchallenge plus your winning photo next to @cerv.almudaina
clusive dish for him, weighing in at a staggering 3,050 kilos double the original challenge. The content creator not only proved he could eat just about anything in under half an hour 27.58 minutes to be precise but also showed he
still had room for dessert, polishing off five jars of gelatta.
To enter, you’ll need to book in advance by ringing the establishment at 955 870 265. Be warned: if you fail, you’ll be footing a £15 bill for the serranito.
ondary, hardtonavigate paths to reach the location where they had set up the device.
The arrested individuals were presented before the head of the Court of First Instance and Instruction of Solsona in Lleida on Monday, August 28. The case has been declared confidential, and the suspects are facing charges of belonging to a criminal group, public disorder, road safety violations, and environmental offences.
Since the announcement, several daring souls have stepped up to the plate. One such individual was YouTuber IvanFood Challenge, who uploaded his latest video in which he not only conquered the original challenge, but did so in spectacular fashion.
Estefania from the Almudaina Bar prepared an ex
EWN 7 - 13 September 2023 7 NEWS euroweeklynews.com
FOUR ARRESTED: The suspects were caught red-handed.
CAN THE SILENT STRUGGLE OF LONELINESS BE BEATEN?
THE world has never been betterconnected thanks to technology, yet according to some statistics loneliness has reached epidemic levels.
The growing problem of loneliness was acknowledged by the UK government in 2018 when the then Prime minister, Theresa May, appointed the world’s firstever Minister for Loneliness, an idea
which was soon followed by Scotland and Wales. What is Loneliness?
The famous humanitarian, Mother Teresa was once quoted as saying: “The most terrible poverty is loneliness and the feeling of being unloved.”
Loneliness is a complex and often misunderstood emotion. It’s not simply the absence of company but a deeper, more profound feeling of disconnection. Despite our hyperconnected world, loneliness continues to affect people of all ages and backgrounds no matter where they live. Feelings of loneliness can also deeply impact the health of the sufferer.
In a report by Dr Vivek H Murthy, the 19th and 21st Surgeon General of the United States, he said: “The mortality impact of being socially disconnected is similar to that caused by smoking up to 15 cigarettes a day.”
How Prevalent is Loneliness?
According to figures published by the Campaign To End Loneliness: ‘In 2022, 49.63 per cent of adults (25.99 million people) in the UK reported feeling lonely occasionally, sometimes, often or always.’ Of those, ‘Approximately 7.1 per cent of people in Great Britain (3.83 million) experience chronic loneliness, meaning they feel lonely often or always’.
Solutions to Loneliness
Thankfully there are now many charities dedicated to helping those who suffer from loneliness for whatever reason. From groups such as Age UK, listening services such as Campaign Against Living Miserably (CALM) and Silver Line which specifically offers help to people over the age of 55 as well as numerous online expat forums.
There are also basic tips that loneliness sufferers are encouraged to do such as: Joining a club, becoming a member of a hobby group, and volunteering.
One resident of Malaga, Michael McCann said: “I think I am lucky I live in the Lew Hoad Tennis Village (Mijas, Costa del Sol) and I still play. The urbanidation is made up of permanent residents and holidaymakers.”
The 79yearold British expatriate added: “Of course I have Blackie (Michael’s beloved dog) and friends so I don’t have time to think about loneliness. I think being active is important, so looking after your health is important.”
Loneliness can be a crippling and debilitating condition, but it’s not insurmountable. By understanding its complexities and seeking support from friends, family, or professional organisations, people can find ways to connect and enrich their lives.
LONELINESS AND ISOLATION
THE HIDDEN ENEMY
IT is often said ‘that you can’t tell a book by its cover’ and many of us have found that to be very apt in our every day lives. We are all prone to make instant judgements about other people but very often the real truth is hidden from public sight. Living here in Spain is a privilege we take for granted. But for many, friends and family have either moved away or passed away. That is a bitter blow and living in a foreign country with different bureaucratic systems and language issues only compounds the feelings of loneliness and isolation
We often become more insular in our approach to life preferring our own company and in many cases the TV takes the place of real friends. However, feeling lonely and isolated does not have to be accepted as a normal and inevitable byproduct of getting older
The ‘hidden enemy’ often brings with it both physical and mental changes. Eating poorly, because you are only cooking for one and ‘depression’ in all its guises are some of the most common features. A recent report from Kyushu University in
Japan suggested that increased social interaction could be ‘beneficial for preventing brain atrophy and the development of dementia’.
The study was published in ‘Neurology’, the medical journal of the American Academy of Neurology. Age UK, which is our umbrella organisation said the findings “show us how important social interaction is in our lives.”
The nub of their findings is that when it comes to brain function you either ‘use it or lose it’. Why would you want that when a proven solution is to get out and about and meet people? Doing that in Spain couldn’t be easier with Age Concern on your doorstep.
Built on fun and friendship, the Charity is at the hub of the Englishspeaking community. Offering real practical help and support through regular coffee mornings and social activities, they also have teams of volunteers working within the community to help stave off those unwanted feelings of loneliness and isolation.
The Charity offers FREE welfare advice, support, help and friendship. They’ve
been doing this quite a while and many expats have lived here for more than 20 years. This means that they KNOW what you’re going through and are here to help We all need people we can talk to, relate to and share a confidence with. So they invite all Englishspeaking residents who would like to ‘live their best life’ to get in touch.
Whether it’s for yourself or a neighbour, relative or loved one, becoming part of their ‘family’ couldn’t be easier. Check out the website www.aces pana.org to find out your nearest local branch.
Do you have some spare time to help others? Whatever your skill set or available hours we would welcome your support. Please contact us if you are interested. Being there for others truly brings its own reward by improving your self esteem and enjoying that very special feeling of offering your help to those who need it most.
EWN 7 - 13 September 2023 euroweeklynews.com FEATURE 8
Olive oil prices spiralling
OLIVE oil prices have surged to nearly or even exceeding €10 per litre, prompting some supermarkets to attach security alarms to bottles to deter theft. These record prices are making it challenging for many consumers, and supermarkets are already noticing changes in buying habits.
The price of the liquid gold remains stubbornly high, with no relief in sight, as Spain has grappled with scarce rainfall affecting olive crops. Despite olive trees thriving in warm climates, this year’s extreme weather has led to one of the worst harvests in two decades, resulting in a shortage of produce.
Spain still maintains its position as the world’s leading olive oil exporter, driving up prices.
Sergio Cuberos, General Manager of Maskom, noted that while olive oil is deeply ingrained in Spanish culture, high prices are
altering consumption patterns due to their impact on family budgets already strained by inflation.
Cuberos emphasised that record prices are leading to reduced consumption, with a litre bottle now costing as much as a good quality bottle of wine.
The primary reason behind these soaring prices is poor harvests. In the province of Malaga, only 30,000 tonnes have been harvested, a 48 per cent decline from the previous year. Adequate rainfall during the initial months of the year is crucial for olive blossom development, fol
lowed by additional water in October and November, but these conditions have been absent this season.
Unfortunately, there is no immediate relief on the horizon. Agricultural associations like Asaja have warned that the outlook for the 2023 24 harvest is equally grim, with expectations mirroring the current season. European Union forecasts indicate a 54 per cent reduction in olive oil production nationwide, with the average price of extra virgin olive oil reaching €9.42 a litre or more, according to Spain’s OCU consumers’ organisation.
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Credit: Jcomp/Freepik
Liquid gold.
It’s positively disgraceful
LEAPY LEE SAYS IT
THINK IT
SOME time ago, but still fresh in the memory, a colleague of mine sought to foster a Muslim child. This was not specifically because of the child’s religious background, but merely because due to his circumstances he appeared to be a lad that would benefit and indeed deserved a bit of TLC and stability in his life.
The boy was a 12 year old illegal immigrant, who had arrived in Dover, basically in the clothes he stood up in (not even a mobile phone!). My caring friend decided to do what he could to see the boy had all he needed for a fair start in life.
With a beautiful country home and three children, one already fostered, you would confidently assume that he and his spouse had all the requirements needed to see this young man happily on his way to a brighter future. Wrong!
The lad, bearing a cap, a prayer
mat and a Koran, (supplied by the authorities) duly moved in for a short trial period. He was warmly welcomed in by a loving family and was obviously extremely happy in his newfound environment. My friend then set about completing the formalities that were required to foster the child on a more permanent basis. And that’s where the problems started. Before any negotiations could begin, there were a few unshakable ground rules. One. The boy had to be free to pray five times a day. Two. He had to have the facilities of a local Mosque on a Friday. Three. He could only be fed on Halal meat. And four despite my friend wanting to pay for an extremely well established and expensive local private college, he had to ultimately be taken to a Muslim learning facility some miles away.
Somewhat taken aback by this list of requirements my friend attempted to negotiate. He had no problems with items one and two.
However, although he would of course make sure the lad was never offered, or obliged to eat pork,
DIFFERENT RULES OUR VIEW
preparing Halal food was far too disruptive to the family’s way of life and routine. As far as the Muslim school was concerned, it was miles away and would present insurmountable problems with school runs etc. His appeals fell on deaf ears. Compromises were out of the question. In the end the boy had to move out (forgetting to take his Koran I may add!) and return to whatever institution he had emerged from.
Is that sad or what!? Not only is it sad, it is a positive disgrace when compared to the young Western orphan girl, who was moved in with a Muslim family. She consequently had her cross removed and was made to live with people with whose culture faith and even language was alien to her.
Yet another example of the West kowtowing to Muslim interests, with utter disregard of our own cultural priorities and sense of fair play. Well, all I can say is on our own heads be it. Keep the faith. Love Leapy leapylee2002@gmail.com. expatradioscotland.com
THINGS aren’t always as they seem and in Spain visitors must be very aware that events can escalate quickly, especially as two different cultures meet.
Recently, a 19yearold from the UK accompanied by his 18yearold girlfriend travelled to Barcelona for a long weekend which turned into a nightmare.
They had had a few drinks and in his words they had a ‘tiff’ because her phone was almost out of charge and he put his hands on her shoulders (which she corroborates) to calm her down.
Out of the blue he was pounced on by two youngish men in civilian clothes and thinking he was being mugged, tried to fight back, but suddenly he was on the pavement and hand cuffed.
They were plainclothes police who arrested him for gender violence and took him to a police station, leaving his girlfriend distraught and alone.
He was placed in a cell where one of the detainees was screaming and appeared unstable and despite his appeal to be moved, this was denied.
After being allowed to make a phone call to his family, he was kept in the cell for around 20 hours before being told he was being charged with assault on the girl as well as the police before being returned to the cell.
He was then assaulted by his cell mate until police intervened and he was taken the next day before the court.
With the assistance of the British Consulate, after pleading not guilty he was released, allowed to leave Barcelona and is due to return to Court in October 2024.
A frightening time and a warning to be aware that different rules often apply in different countries.
EWN 7 - 13 September 2023 12 euroweeklynews.com FEATURE
OTHERS
Leapy Lee’s opinions are his own and are not necessarily representative of those of the publishers, advertisers or sponsors.
BUSINESS EXTRA
Checkmate
THE UK government confirmed that postBrexit checks on food, plant and animal produce reaching Britain had been postponed for the fifth time and would not begin until the end of January 2024. After contacts with industry, the government said it was giving businesses more time to adapt to the new rules.
Picture that
THE Spanish government is spending €942 million on insuring 84 works by Picasso to be shown at the Reina Sofia Art Museum. The ‘Picasso 1906. La Gran Transformación’ exhibition will be held between November 14 and March 4 2024, commemorating the 50th anniversary of the Spanishborn artist’s death.
Strike risk
IF workers at the Wheatstone and Gorgon liquefied natural gas (LNG) in Western Australia strike as threatened over pay and conditions on September 7, this could eventually push up global prices. The Chevron plants, which employ approximately 500 workers, produce more than 5 per cent of the world’s LNG.
Bad record
INDITEX and Mango amongst other clothing giants no longer outsource work to Myanmar owing to the country’s bad human rights and labour record. Despite the big firms’ exit, Spain imported €702.8 million of Myanmar garments last year, a 50 per cent increase on 2021, the Institute of Foreign Trade (ICEX) announced.
Falling sales
BRAZILIAN beauty company
Natura & Co is contemplating selling The Body Shop after the cosmetics and skin care chain experienced another quarter of disappointing sales. The board of Natura, which also owns Avon, recently announced that it was “exploring strategic alternatives” for The Body Shop.
STAT OF WEEK €680.2 million
in turnover for the Spanish subsidiary of Philip Morris last year, an 11 per cent increase on 2021 although profits fell 1 per cent owing to increased overheads.
Barça goes Dutch
Linda Hall
FC BARCELONA is on course to emulate Ferrovial by moving the headquarters of its content creation branch, Barça Media, to the Netherlands.
As with the Spanish infrastructure multinational, FC Barcelona president Joan Laporta has launched the operation to make it easier to float Barça Media on the Nasdaq stock market.
Documents that have been filed with the United States Securities and Exchange Commission (SEC) revealed that the club intends to raise capital on the American stock exchange. Establishing Barça Media’s legal headquarters in
the Netherlands does not involve transferring its operational headquarters or the business itself, economic specialists explained.
Barça Media will be listed via an intricate operation that requires a merger with Mountain & Co I Acquisition Corp, a Special Purpose Acquisition
JOHNNIE BODEN admitted to being “a complete nitwit” by attempting to make the classic brand overtrendy.
“We forgot who we were,” he admitted to The Times after recording a 2022 pretax loss of £4.4 million (€5.1 million), compared to a £22 million (€25.5 million) profit in 2021.
Sales fell 2 per cent to £350 million (€406.7 million) during this period, while the number of Boden customers slid by 5 per cent to 1.8 million.
He has pledged to revamp the business after a “series of mistakes” that brought significant losses.
“We changed the product too much,” Boden said. “We had less colour, we had shorter silhouettes and we had the sorts of products that were on trend, which is not very us.”
Expensive plan
THE UK government’s plans to hire approximately one million more NHS staff over the next 13 years could cost £50 billion (€58.2 billion), a thinktank warned. The huge increase was essential for the country to provide adequate healthcare for an ageing population, the NHS’s chief executive Amanda Pritchard argued recently.
Max Warner, a health executive from the Institute for Fiscal Studies (IFS) has predicted that this will inevitably involve higher taxes, spending cuts or more borrowing.
Costs would increase by an annual 3.6 per cent, eventually expanding the NHS budget by 70 per cent compared to today’s levels, Warner said.
Too much
tent business.
The deal has a 20year duration, automatically extendible for a further 20 years unless there is a breach of contract.
OVERPRODUCTION means that 40 million litres of Spanish wine must be prevented from flooding the market and driving down prices.
Company (SPAC) that has been specifically created for this sole purpose.
The agreement, signed on August 11 between Barcelona and Mountain & Co I Acquisition Corp, is a 75page document with appendix that puts a value of €900 million ($973 million) on Barça Media’s con
German businessman Cornelius Boersch, the SPAC’s main shareholder who is also its promoter, controls 17.6 per cent of the shares through various companies, according to the SEC documents.
The operation will be managed by Wall Street funds Calamos Investment Trust, Highbridge Capital Management, Saba Capital Management and Glazer Capital which between them control more than half of the capital.
Boden back on board
ly pretty amateurish.”
This was the same year that he entered the Rich List with a £300 million (€348.8 million). Boden also revealed to The Times that he intends to send out apologetic emails telling customers, “Sorry, I effed up.”
Britain’s former PM David Cameron embodied ‘Boden Man’ in the company’s floral swimming trunks, although the menswear line has been temporarily axed.
Producers can choose between cutting down and eliminating grapes before they ripen, or ‘crisis distilling’ to produce industrial alcohol.
Catalonia and Extremadura growers applied in June to the Ministry of Agriculture and the European Union for permits to distil 9.17 million litres of red and rosé wine before October 15.
“This is an exceptional measure that will attempt to alleviate this year’s situation,” a Ministry official said. “It was last done in 2020 owing to reduced consumption during the pandemic.”
Very similar
MADRID’S Upper Court of Justice (TSJM) ruled that Rothschild and Vega Sicilia had the right to the Macan label.
The jointlyowned group, in which Rothschild has a 50 per cent stake, has sold Macan wine since 2013 and the TSJM rejected a complaint from the Vega Clara bodega which markets Dacan.
Etoneducated Boden, who studied Politics, Philosophy and Economics at Oxford. launched the mail order business in the early 1990s although he admitted in a 2014 BBC interview that his first attempts were “clear
Wilko on the brink
PLANS for Wilko store closures and staff redundancies were temporarily paused as administrators analysed rescue offers.
PricewaterhouseCoopers, called in as the chain which lost £38.7 million (€45.06 million) last year ran out of cash, initially announced that redundancies amongst the group’s 12,500 employees would start within weeks.
No workable offers were received until Doug Putman, who owns HMV in the UK and Toys R Us in Canada, upped his bid from 200 to 350 of Wilko’s 400 stores when the August 25 deadline arrived. He would also employ 10,000 of the existing staff and ensure that main creditors were paid, Putman said.
Another offer from AngloCanadian M2 Capital to save all the stores was rejected after failing to pass all necessary checks, sources close to the process said.
Women customers, who have included the Princess of Wales, have been promised that the label will no longer attempt to be ‘too young’. The printed catalogue will also continue to be available after earlier cutbacks, Boden said.
Spend & pay later
LATEST Bank of Spain figures show that between December 2022 and July this year, bank deposits by Spanish families dropped by €19.548 billion.
This was the sharpest fall since late 2011 when the financial crisis was at its height, although the present context is different, with increased demand for consumer credit as families spend on their cards and dip into their savings to cover day to day spending and inflation.
“Inflation means that families have lost purchasing power and they are compensating for this with savings accumulated during the pandemic which they are using now,” Alicia Coronil, who is chief analyst at Singular Bank, told a news source.
Possible confusion between the labels could be based on “various factors”, including the public’s “degree of knowledge” of both bodegas, the TSJM said.
The “phonetic similarity” was also conclusive, as Macan and Dacan “created a highly similar auditory impression.”
Copper project
BRITISH AUSTRALIAN mining company Rio and First Quantum Minerals are joining forces to develop the La Granja copper project in Peru.
Located at high altitude in Cajamara, La Granja has one of the world’s largest undeveloped copper deposits.
Canadian First Quantum paid $105 million (€96.6 million) for a 55 per cent stake and will invest approximately $546 million (€500.1 million) to fund capital and operational costs.
As majority owner, First Quantum will operate the La Granja project with initial work focused on completing the feasibility study.
euroweeklynews.com • 7 - 13 September 2023
NETHERLANDS MOVE: FC Barcelona plans to float content creation Barça Media in New York.
JOHNNIE BODEN: Will revamp brand’s image following losses.
FINANCE 14
Photo credit: CC/Howard Lake
Photo credit: boden.co.uk
DOW JONES
3M 106,94 +0,27 3,18M American Express 159,56 +1,57 +0,99% 1,78M Amgen 256,71 +0,37 +0,14% 1,34M Apple 189,46 +1,59 +0,85% 44,79M Boeing 223,53 -0,50 -0,22% 3,58M Caterpillar 286,20 +5,07 +1,80% 2,30M Chevron 164,41 +3,31 +2,05% 5,53M Cisco 57,84 +0,49 +0,85% 13,96M Coca-Cola 59,30 -0,54 -0,89% 10,68M Dow 55,29 +0,73 +1,34% 2,81M Goldman Sachs 327,59 -0,12 -0,04% 1,17M Home Depot 333,02 +2,72 +0,82% 2,12M Honeywell 188,39 +0,45 +0,24% 1,47M IBM 147,95 +1,12 +0,76% 2,12M Intel 36,61 +1,47 +4,18% 43,34M J&J 160,49 -1,19 -0,74% 8,46M JPMorgan 147,18 +0,85 +0,58% 6,53M McDonald’s 280,93 -0,22 -0,08% 2,09M Merck&Co 109,85 +0,87 +0,80% 3,11M Microsoft 328,66 +0,90 +0,27% 14,86M Nike 102,33 +0,96 +0,95% 5,01M Procter&Gamble 154,49 +0,15 +0,10% 3,00M Salesforce Inc 221,39 -0,07 -0,03% 4,99M The Travelers 162,29 +1,06 +0,66% 525,99K UnitedHealth 476,24 -0,34 -0,07% 3,05M Verizon 34,85 -0,13 -0,37% 12,86M Visa A 248,13 +2,45 +1,00% 3,18M Walgreens Boots 23,43 -1,88 -7,43% 33,00M Walmart 161,56 -1,05 -0,65% 4,10M Walt Disney 81,64 -2,04 -2,44% 25,62M InterContinental 6.020,0 +50,0 +0,84% 31,04K Intermediate Capital 1.363,50 +10,50 +0,78% 1,33K Intertek 4.194,0 +50,0 +1,21% 3,84K ITV 71,46 +0,82 +1,16% 1,10M J Sainsbury 269,80 -0,80 -0,30% 105,34K Johnson Matthey 1.780,9 -10,0 -0,56% 34,87K Land Securities 591,40 -0,20 -0,03% 108,66K Legal & General 219,56 +0,90 +0,41% 743,68K Lloyds Banking 42,32 +0,20 +0,49% 3,71M London Stock Exchange 8.208,0 +32,0 +0,39% 14,01K Melrose Industries 524,00 +7,80 +1,51% 54,08K Mondi 1.322,50 +8,50 +0,65% 27,07K National Grid 988,60 +3,20 +0,33% 122,48K NatWest Group 235,70 +2,40 +1,03% 473,84K Next 7.056,0 +28,0 +0,40% 8,61K Ocado 880,60 +9,00 +1,03% 95,05K Persimmon 1.072,0 +13,0 +1,23% 89,50K Phoenix 523,52 +3,00 +0,58% 84,50K Prudential 982,40 +12,60 +1,30% 230,46K Reckitt Benckiser 5.744,0 +34,0 +0,59% 26,59K Relx 2.599,00 +20,00 +0,78% 79,09K Rentokil 596,80 +1,00 +0,17% 65,77K Rightmove 563,40 +4,40 +0,79% 45,27K Rio Tinto PLC 5.047,0 +74,5 +1,50% 269,46K Rolls-Royce Holdings 223,10 +3,90 +1,78% 1,83M Sage 974,60 +4,60 +0,47% 31,65K Samsung Electronics DRC 1.346,00 +12,00 +0,90% 0,68K Schroders 413,5 +1,1 +0,27% 61,58K Scottish Mortgage 693,46 +3,80 +0,55% 153,02K Segro 727,80 +1,80 +0,25% 51,42K Severn Trent 2.393,0 +12,0 +0,50% 9,88K Shell 2.454,1 +10,0 +0,41% 304,88K Smith & Nephew 1.068,22 +4,00 +0,38% 45,42K Smiths Group 1.652,50 +17,50 +1,07% 15,15K Spirax-Sarco Engineering 10.040,0 +48,0 +0,48% 2,88K SSE 1.625,50 +13,00 +0,81% 66,09K St. James’s Place 886,20 +1,80 +0,20% 147,57K Standard Chartered 720,20 +0,60 +0,08% 196,80K Taylor Wimpey 114,85 +0,85 +0,75% 254,70K Tesco 266,10 +1,40 +0,53% 278,07K Tui 467,60 +14,20 +3,13% 214,27K Unilever 4.047,0 +18,0 +0,45% 61,10K United Utilities 937,00 +5,20 +0,56% 46,48K Vodafone Group PLC 73,35 -0,28 -0,38% 1,78M Whitbread 3.497,0 +28,0 +0,81% 8,48K WPP 776,60 +6,20 +0,81% 33,45K Most Advanced Gowest Gold Ltd. +3,900.00% 35,000 Dell Technologies Inc. +21.25% 31.603M Elastic N.V. +20.02% 5.721M PTT Exploration and Pro Public Comy Lim +19.86% 40,957 Samsara Inc. +13.05% 9.569M Nutanix, Inc. +12.22% 9.705M World Wrestling Entertainment, Inc. +8.32% 1.921M KE Holdings Inc. +7.56% 25.186M Lufax Holding Ltd +7.44% 11.742M New Oriental Education & Technology Gro Inc.+7.23% 1.921M Full Truck Alliance Co. Ltd. +7.16% 9.401M Most Declined VinFast Auto Ltd. -15.02% 7.393M Nexstar Media Group, Inc. -13.08% 1.801M Warner Bros. Discovery, Inc. -12.02% 62.846M Guardant Health, Inc. -10.41% 6.07M Olin Corporation -10.41% 8.546M Paramount Global -9.54% 32.745M Turkiye Garanti Bankasi A.S. -8.35% 24,495 Paramount Global -8.33% 118,234 PagerDuty, Inc. -7.73% 4.305M Walgreens Boots Alliance, Inc. -7.43% 33.235M Renault SA -6.70% 25,639 COMPANY PRICE(P) CHANGE(P) % CHG NET VOL
C LOSING P RICES 4 S EPTEMBER 3I Group 2.006,00 +10,50 +0,53% 60,39K Abrdn 165,60 +0,80 +0,48% 435,60K Admiral Group 2.421,0 -9,0 -0,37% 17,89K Anglo American 2.165,0 +29,5 +1,38% 198,25K Antofagasta 1.476,50 +5,50 +0,37% 21,41K Ashtead Group 5.602,0 +56,0 +1,01% 14,24K Associated British Foods 1.994,0 +9,0 +0,45% 14,12K AstraZeneca 10.778,0 +78,0 +0,73% 50,60K Auto Trader Group Plc 609,40 +2,00 +0,33% 21,12K Aviva 376,00 +1,00 +0,27% 265,86K B&M European Value Retail SA569,80 -4,00 -0,70% 68,72K BAE Systems 1.017,50 +9,50 +0,94% 167,00K Barclays 151,10 +2,04 +1,37% 3,01M Barratt Developments 452,23 +1,70 +0,38% 43,41K Berkeley 4.055,0 +9,0 +0,22% 4,82K BHP Group Ltd 2.342,00 +40,00 +1,74% 57,26K BP 504,30 +3,50 +0,70% 2,57M British American Tobacco 2.613,0 +5,0 +0,19% 56,73K British Land Company 313,80 -0,70 -0,22% 214,38K BT Group 114,75 -0,60 -0,52% 453,95K Bunzl 2.857,0 +7,0 +0,25% 18,97K Burberry Group 2.220,0 +38,0 +1,74% 33,25K Carnival 1.119,2 +9,0 +0,81% 14,23K Centrica 153,59 +0,05 +0,03% 994,99K Coca Cola HBC AG 2.254,0 +1,0 +0,04% 12,23K Compass 2.018,21 +24,50 +1,23% 110,11K CRH 4.561,0 +11,0 +0,24% 28,11K Croda Intl 5.564,0 +8,0 +0,14% 5,41K DCC 4.340,0 +18,0 +0,42% 5,40K Diageo 3.200,0 0,0 0,00% 103,73K DS Smith 315,20 +2,30 +0,73% 230,14K EasyJet 434,28 +9,80 +2,31% 154,38K Experian 2.797,0 +29,0 +1,05% 52,36K Ferguson 12.840,0 -10,0 -0,08% 1,21K Flutter Entertainment 14.465,0 +45,0 +0,31% 2,97K Fresnillo 563,88 -6,20 -1,09% 40,02K Glencore 434,65 +7,50 +1,76% 2,51M GSK plc 1.385,78 -1,20 -0,09% 155,49K Halma 2.142,0 +8,0 +0,38% 14,87K Hargreaves Lansdown 771,30 +5,40 +0,70% 22,44K Hikma Pharma 2.190,00 +17,00 +0,78% 3,99K HSBC 592,30 +4,00 +0,68% 1,89M IAG 162,05 +2,70 +1,69% 952,43K Imperial Brands 1.788,00 +4,50 +0,25% 24,55K Informa 743,80 +7,40 +1,00% 93,18K COMPANY PRICE(P) CHANGE(P) % CHG. NET VOL COMPANY CHANGE NET / % VOLUME US dollar (USD) ........................................1.0800 Japan yen (JPY) 158.12 Switzerland franc (CHF) 0.9542 Denmark kroner (DKK) 7.4518 Norway kroner (NOK) 11.478 MAKE THE MOST OF YOUR MONEY WITH US See our advert on previous page 0.85518 1.16925 LONDON
C LOSING P RICES 4 S EPTEMBER Units per € COMPANY PRICE CHANGE OLUME(M) NASDAQ C LOSING P RICES 4 S EPTEMBER 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 7 - 13 September 2023 euroweeklynews.com FINANCE 16
- FTSE 100
Euro
EUR/GBP: Up from £0.85 to £0.86
EUR/USD: Up from $1.09 to $1.1
EUR/GBP: Down from £0.86 to £0.85
EUR/USD: Down from $1.09 to $1.08
The euro trended lower over the past month as signs of a declining Eurozone economy dampened European Central Bank (ECB) interest rate rise bets.
Through the first half of August, a lack of notable Eurozone data saw the single currency trade true to its negative correlation with the US dollar. EUR initially rose before weakening as USD regained its strength.
Gloomy PMI results hurt the euro towards the end of the month. Service sector activity in August unexpectedly shrank, dragging overall business activity into contraction territory.
Worrying signs of declining business and consumer confidence in Germany - Europe’s largest economy - added to the pressure on EUR.
CURRENCY OUTLOOK: EURO WEAKENS AMID GLOOMY ECONOMIC OUTLOOK, POUND UNDERMINED BY RECESSION FEARS
At the end of the month, a pullback in USD helped EUR recoup some losses. However, dovish meeting minutes from the ECB’s July policy meeting saw the single currency end the month on a sour note.
Looking at the month ahead, the ECB’s interest rate decision is in the spotlight. It’s unclear whether the bank will raise rates or not, with the uncertainty potentially driving volatility. If the ECB hikes, the euro could climb. Otherwise, EUR may face selling pressure.
Pound
GBP/EUR: Unchanged at €1.16
GBP/USD: Down from $1.27 to $1.26
The pound faced volatility early last month as the Bank of England (BoE) delivered a smaller-than-expected interest rate rise of 25bps. However, hawkish comments from BoE Governor Andrew Bailey limited losses.
Warnings about the health of the British economy then pressured the pound before the latest GDP figures surprised to the upside, sparking a rally in Sterling. The UK economy unex-
pectedly expanded by 0.2% in the second quarter of 2023.
As the month went on, record-high wage growth and stubborn inflationary pressures boosted BoE rate hike bets, sending the pound to a twomonth high against the US dollar and a one-year high against the euro.
However, troubling economic data slashed GBP’s gains in the latter part of the month. UK private sector activity unexpectedly contacted in August, while retail trade fell to its lowest level since March 2021, stoking recession
fears. This month, the BoE will meet to set monetary policy. An expected rate hike could boost Sterling against its peers, but if policymakers express concern about the UK economy then GBP could find its gains capped.
US Dollar
USD/GBP: Unchanged at £0.78
USD/EUR: Up from €0.91 to €0.92
The US dollar faced turbulence over the past month, although it managed to strengthen overall as markets bet on the possibility of more Federal Reserve rate hikes.
Headwinds hit USD early in August after the latest non-farm payrolls data reported weaker-than-expected job creation in the US, which dented interest rate expectations.
However, an uptick in US inflation and hawkish meeting minutes from the Fed’s July interest rate decision helped the ‘greenback’ rally in the middle of the month.
The US central bank also held its annual Jackson Hole Symposium, where Fed Chair Jerome Powell delivered a hawkish speech, hinting at more policy tightening to come.
The ‘greenback’ then trimmed its gains at the end of the month following a raft of underwhelming employment data releases. Signs that the US labour market is cooling once again dented Fed rate hike bets, thereby putting pressure on USD.
Turning to the month ahead, the Federal Reserve interest rate decision is also coming up. With the US central bank expected to leave rates unchanged, the ‘greenback’ could stumble.
EWN 7 - 13 September 2023 17 FINANCE euroweeklynews.com
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COMMUNITY COMMENTS
READERS have been responding to a recent article concerning the need to leave plenty of time in order to obtain the ETIAS travel authorisation next year for British (and other ‘foreign’) passport holders who don’t need visas to enter 30 different countries throughout Europe. The main concern has been whether UK passport holders who have residence in Spain need to obtain the documentation.
There is a very helpful observation from the European Union which states “ETIAS is a travel authorisation that covers nationals of visa-exempt countries coming to the EU for short-term stays.
If you have a residence permit, residence card, or a document issued by any of the European countries requiring ETIAS which authorises your stay, you do not need an ETIAS travel authorisation.”
ETIAS is not specific to “Britons planning a European getaway.”
Nor is it specific to all of the EU countries.
It is specific to all Nationals of the 59 countries not in the EU but currently able to enter the Schengen Area Visafree.
The Schengen Area consists of:Austria, Belgium, Croatia, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, and Switzerland.
EU countries Bulgaria, Republic of Cyprus, The Republic of Ireland, and Romania are in the EU but not a part of the Schengen Area.
Therefore travel between these and Schengen Area countries is still passport controlled.
Ireland and Britain also share a Common Travel Area, allowing their citizens to freely travel between the Republic of Ireland and the United Kingdom.
The ETIAS is not a Visa, instead it is a security device:
1. Identify those intending to enter the Schengen Zone, in order to prevent criminals or terrorists or their supporter’s gaining entry.
2. Identify those overstaying the Schengen Zone 90day visafree period.
3. Identify ‘tourists’ exceeding Visafree activities, during the 90 days visitors cannot work or study but can engage in business and tourism activities.
The administrative uses of the ETIAS are described at:https://www.schengenvisainfo.com/etias/
“Besides making travelling more secure, the ETIAS authorization will also assist the EU countries and all travellers in the following ways:
Reduce procedures and application times. Improve the management of EU country borders.
Assist in detecting and decreasing crime and terrorism.
Impede irregular migration.
Reinforce the visa liberalisation policy of the EU.
All in all, the ETIAS authorisation will make travelling to the EU less of a hassle and a much safer experience.
Citizens of these countries are allowed to go into countries in the Schengen Zone for business or travel purposes for up to 90 days.
During these 90 days, these visitors cannot work or study but can engage in business and tourism activities.
The ETIAS will undergo a detailed security check of each applicant to determine whether they can be allowed to enter any Schengen Zone country.
While citizens of countries who do not need a visa for travel purposes of up to 90 days in the EU do not need to go through a long process of applying for the visa, the ETIAS will make sure that these people are not a security threat.
This travel authorisation system will gather, keep track of, and update necessary information regarding visitors to determine whether it is safe for them to enter Schengen countries.
Ordinary Joe
Living in Spain with permanent residency but having a British passport, how does it effect us travelling in and out of UK but also within Europe. Thank you.
Sheena Parfitt
In reply to Sheena Parfitt
Sheena as things stand at the moment if you are a UK passport holder with residency flying from Spain to another Schengen country there is no requirement to show passports, so it seems ETIAS would not be required but things do change as the politicians and civil servants look to come up with new bright ideas.
So what happens about uk citizens with residency in an EU country ie Spain with a residency card will they still need this ???
Bob Edwards
But, not all countries in Europe including the UK are part of the EU. You would not need it to travel to Wales, Albania or many othet European countries.
Johm
In reply to Johm
In actual fact it’s more than just the 27 EU states and those requiring ETIAS visa are Austria, Belgium, Bulgaria, Croatia, Cyprus, Czechia, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, the Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden and Switzerland. In addition, in order to access Andorra, Monaco, San Marino and Vatican City you would need an ETIAS because you can’t fly directly although possibly you can travel by sea to Monaco.
EWN 7 - 13 September 2023 euroweeklynews.com HOROSCOPES/COMMUNITY COMMENTS 20
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PETS
Safe car travel
SUMMER often beckons us towards picturesque holiday destinations, and naturally, many of us yearn to bring our entire family along, pets included. Just as humans ensure their safety through seatbelts, it’s paramount that our pets too adhere to certain travel regulations.
A primary concern for drivers should be the internal temperature of the vehicle. Overrelying on air conditioning, especially if it’s too cold, can adversely affect your pets. Conversely, extreme heat can be equally harmful. If circumstances permit, con
Dog-sitters for Bess were for free!
sider scheduling your journey during cooler parts of the day.
A stark fact to bear in mind: in the event of a collision even at a mere 50km/h, a loose pet can multiply its weight by up to 25 times. This not only endangers the animal but poses a serious threat to all passengers.
For our canine companions, safety can be ensured using: A twopoint harness. A cabin separator. Or, placing them in an appropriate carrier either on the floor near the seat or in the boot. Cats, on the other hand, are best placed in suitable carriers to ensure their security.
LAMIA and Chloe dogsit for Bess the labrador
It happens from time to time that the founder of Housesitmatch housesits with her family or on her own. Recently Lamia and Chloe her daughter dogsat for Bess, an adorable Labrador! And of course the dogsitting was for free. It was an active working holiday for the pair who love pets.
It’s a fair exchange.
All our sitters offer a fair exchange free accommodation for free pet care and an online review. It’s a win win!
If you’re planning a trip for the holidays, don’t delay. Register today as a member of our network to find affordable home and pet care.
Plan ahead to secure great sitters
However long your trip, pets need someone with them at home. Young and senior pets in particular benefit from routines undisturbed. Plan ahead of time to find house and petsitters who will come to you for free!
Next steps to join Choose Housesitmatch.com for affordable travel, home and pet care. These are the steps to take:
1. Register as a homeowner on HouseSit
Match.com
Lamia and Chloe dogsitting on a working holiday, for Bess the
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?
HouseSitMatch helps you find sitters. Join our network for a small annual fee. You get ID checked for safety and then build your advert with trip dates. Housesitters see your advert, they respond and you choose the sitter you want.
Trustpilot Testimonials – 4.9 / 5 Excellent 10 out of 10 for housesitmatch.com
I have had nothing but good and helpful service from the people who run this site, and my experience has been excellent. Tristram Cosgrave Dog and cat owner, Malaga
THE enigmatic purr of a cat has captivated owners for centuries. Traditionally associated with contentment, recent studies suggest that purring isn’t just an expression of happiness.
In fact, it could signify a range of emotions or even medical issues. Many of us assume that when our cat is purring, they’re in a state of bliss. While this is often the case especially when accompanied by other signs like kneading or closed eyes it isn’t the full story. Cats also purr when they’re frightened, in pain, or trying to heal.
Purring has been shown to release endorphins, which can relieve pain, suggesting it may be a selfsoothing mechanism. If your cat suddenly starts purring more than usual, or if the purring sounds different, it might be cause for concern.
Variations in the pitch, volume, or pattern of your cat’s purr could indicate distress or discomfort. If accompanied by changes in behaviour, such as reduced appetite or increased isolation, it’s advisable to consult a vet.
But how can you tell the difference? Pay attention to your cat’s body language. If the purring is paired with relaxed muscles, halfclosed eyes, and a tendency to seek out affection, it’s likely a sign of contentment.
However, if you notice tension, restlessness, or vocalisations like growling, a visit to the vet may be in order.
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READER OFFER Register online via www.Housesitmatch.com. House-sitting is a win-win for both parties, free house and pet-sitting, and the experienced and checked sitters get free accommodation! Register as either house-sitter or homeowner with a 20% discount code 20EWN .
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CLASSIFIEDS
Man United not for sale Verstappen breaks F1 record
RED BULL driver Max Verstappen proved once again in Monza on Sunday, September 3, that it doesn’t really matter which position he starts a race from.
The Dutchman stormed to his 10th consecutive chequered flag of the season by winning the Italian Grand Prix. In the process, he broke the record he had shared temporarily with the former Red Bull world champion Sebastian Vettel.
As a result of this historical win, there is now a massive gap of 145 points be tween Verstappen and Perez in the driver’s table as he closes in on a third world crown.
Verstappen simply did not care that he was on Italian soil, the home of the red Ferraris. Spain’s Carlos Sainz started from pole position but that lasted all of 14 laps.
An error by the Spaniard allowed the reigning world champion to pass him as the two cars entered the second chicane with Sainz locking his brakes.
Sainz soon had the other Red Bull in his mirrors as Sergio Perz pushed for second position on the track. The Spaniard managed to hold him off until nine laps from the end when he conceded his place to the Mexican.
Charles LeClerc subsequently attempted to pass his teammate, with
two Ferraris battling for the final spot on the podium. The driver for Madrid clung on to cross the line in third, with the Frenchman just 0.1secs behind him.
Mercedes took fifth and sixth with George Russell once again putting in an excellent performance to lead the multiple world champion Lewis Hamilton across the finishing line.
The latter was hit with a fivesecond penalty after a collision at the second chicane with the McLaren of Oscar Piastri. Fortunately for the Brit, he was far enough ahead of Alex Albon’s Williams to keep his place.
Lando Norris brought the second McLaren home in eighth, followed by Fernando Alonso in the Aston Martin and Valtteri Bottas rounding out the Top 10 for Alfa Romeo.
IN a move that is bound to infuriate hardcore fans of the club, Manchester United is reportedly no longer for sale and will be taken off the market.
The bombshell news was announced by a news source on Saturday, September 2. Citing a source close to the Glazer family, the news outlet said that the Americans had made the decision after potential buyers failed to meet their anticipated asking price.
‘The Glazers are thickskinned and won’t be influenced by any negative fan reactions,’ the source allegedly informed the publication.
Only two serious bidders were left in the final race to take over at Old Trafford.
Sheikh Jassim of Qatar and Sir Jim Ratcliffe had beaten off other prospective buyers to enter what ultimately appeared to be a twohorse race.
When they announced that the club was up for sale, the family said it was happy to either sell 100 per cent of it or that they were also open to keeping a part of the business.
Sheikh Jassim was appar
ently prepared to purchase the club in its entirety, whereas Ratcliffe would let the Glazers retain a minority stake in United it was believed.
According to the source, when the family placed the club on the market in November they were anticipating a much higher level of interest.
The Glazers will now wait until 2025 said the source, when they will attempt to sell Manchester United for a second time in the hope more bidders will enter the market.
With the 2026 World Cup scheduled to be played in the United States, the profile of American billionaires as investors in football clubs could be heightened said the source.
EWN 7 - 13 September 2023 euroweeklynews.com SPORT 24
Red Bull driver Max Verstappen.
4 Gold medals won by Spain at World Athletics Championship.
Credit: Ev. Safronov/Shutterstock.com