Dream win FREE
ILMAINEN
GRATIS
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GRATIS
VRIJ
FREI
Credit: OmazeUK/Facebook.com
Mallorca • Issue No. 2015 • 15 - 21 February 2024
Omaze winner, Graham Dunlop.
GRAHAM DUNLOP, a family man from Southampton, has won a lavish £3 million villa in Mallorca, courtesy of the Omaze charity draw benefitting Alzheimer’s Research UK. The 52-year-old Scotsman, along with his family, now owns a fully furnished property nestled in the Mallorcan countryside, boasting views of the Tramuntana mountains, a pool, and four bedrooms. The prize, ensuring no financial burdens for Dunlop, also includes £250,000 cash, offering
them a myriad of options like using it as a holiday home, leasing, or selling. The win marks a life-changing moment for the Dunlops, providing significant security and opportunities for the future. Graham, visiting his new villa four days after being told about his win said: “I’ve never won anything before but it’s been worth the 50-year wait to end up here.” He also spoke about the transformative nature of this victory for his family, emphasising the peace of
mind and choices it presents for their lives ahead. This event not only altered the Dunlop family’s future but also significantly contributed to Alzheimer’s Research UK, with a total of £3,100,000 raised in six weeks. Since its UK inception in 2020, Omaze has garnered over £25 million for various charities, highlighting the community’s enthusiasm for supporting noble causes while engaging in the chance to win exceptional prizes.
GRATUITO
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Cancer challenge
Credit: Cancer Support Mallorca
Fundraisers against cancer.
IN April 2023, Mallorca witnessed its inaugural Walk Against Cancer for CSG, where nearly 100 participants raised €9,000. This year, Rebecca Upton, the Cancer Support Mallorca Coordinator, aims to double participation and exceed a €10,000 fundraising target for the 2024 event. The initiative, which struck a chord with young ones, plans to engage them further. The event allows participants to set personal step goals throughout April, kicking off with a coffee morning in late March and wrapping up with a celebration in late April to celebrate their achievements. Registration opens on March 1, with detailed fundraising information available on the official website. Businesses can support by becoming sponsors, and directing inquiries to re becca@cancersupportmallorca.com. Additionally, the GR221 walk returns, starting from Es Capdella on March 27 and ending in Pollensa on Easter Monday, April 1. Walkers are encouraged to join the final 15 km stretch from Son Amer Refuge to Pollensa, with celebrations at Liberty Kitchen in the Port.
A NEW system guaranteed to speed up the boarding process at Mallorca’s Palma Airport was introduced on Tuesday, February 13. Vueling’s technological innovation director, Javier Alvarez, unveiled a new facial recognition system at Palma Airport, offering passengers a seamless boarding experience without the need for ID or boarding pass checks. This optional service simplifies boarding and security procedures through the Vueling app. After a successful trial on the Barcelona-Malaga route in
2022, it’s now at Palma, Menorca, Ibiza, Barcelona, and Madrid airports, with Tenerife Norte and Gran Canaria next in line. Aena stores biometric data, accessible only to security forces, hinting at widespread adoption across European airports soon.
Palma International Airport, Mallorca.
Credit: Peter Titmuss/Shutterstock.com
Palma revolution
on 13
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• Local News •
MALLORCA is embracing a new era in tourism, focusing on sustainability and responsible travel. At a recent event in Madrid, under the banner ‘Mallorca, silent luxury’, the Council of Mallorca, represented by Susanna Sciacovelli, and Essentially Mallorca, headed by Jesus Cuartero, unveiled its Pledge for Responsible Tourism. This initiative aims to preserve Mallorca’s unique essence while fostering a sustainable coexistence between visitors and locals. Sciacovelli said, “We work to maintain the essence, identity and image, focusing on protection, regeneration, and preservation.” The event, which showcased the island’s commitment to sustainability, also featured a signing ceremony, affirming the luxury sector’s commitment to these ideals.
Credit: caib.es
Silent luxury
Mallorca represented at the Biofach fair, Germany.
Organic triumph MALLORCA’S agricultural prowess shines on the global stage at the Biofach fair in Nuremberg, Germany, ‘the most important organic food event.’ The fair runs from Tuesday, February 13, until 16, showcasing the island’s commitment to ecological production. Agriculture Minister Joan Simonet, alongside Joan Llabres, General Director of AgriFood Quality and Local Product, heralded the importance of organic farming from the Balearic Islands. With a delegation of seven companies from Mallorca: Made in Soller, Flor de Sal des Trenc, Pamper Earth, Evolution Leap SL Megaraw Bar, Estel de Levant Foundation, we love you An-
dreu Salinas and Rafal Genas. The fair becomes a testament to Mallorca’s growing eco-sector. Simonet’s endorsement of the island’s organic sector underscores its vital role in environmental sustainability and farm profitability. Highlights from the event include Mallorca’s unique products like jams, almond IGPs, DOP oils, and innovative energy bars, alongside the introduction of sheixa wheat bread. With the island’s organic acreage and producer numbers on the rise, Mallorca’s presence at Biofach not only showcases its rich agricultural heritage but also its dedication to ecological innovation.
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Food bank donations EL Corte Ingles has made a significant contribution to the Mallorca Food Bank, delivering essential products valued at €11,545. This generous donation stems from the Great Collection campaign held last December at its Mallorca and Ibiza supermarkets. The initiative saw participation from El Corte Ingles centres on Avenidas and Jaime III, along with Supercor and Supercor Expres outlets in Son Moix, Palma, and Ibiza. The range of donated items, including pasta, rice, baby food, and more, was specifically chosen to meet the Food Bank’s needs. ‘All of this has been possible thanks to the solidarity and empathy of customers, as well as the sel-
fless collaboration of El Corte Ingles workers who acted as volunteers,’ the company stated. This act of kindness highlights the community’s spirit and El Corte Ingles’s commitment to aiding those in social exclusion.
IN a promising start to the year, Palma de Mallorca Airport reported a significant rise in passenger numbers for January. With a total of 889,815 travellers, the airport saw a 3.6 per cent increase over January 2023. The data reflects the airport’s crucial role in facilitating travel and tourism within Mallorca and beyond. The lion’s share of this growth came from the domestic market, where 566,119 passengers flew to or from national destinations, marking a 2.2 per cent rise from the previous year. International travel also contributed to this positive trend, with 323,519 passen-
gers on international flights, a 6.2 per cent increase. Germany led the international market with 191,406 passengers, showing an 8 per cent jump, despite a noticeable decline in UK travellers, which fell by 12.2 per cent. Switzerland, however, saw an 11.3 per cent increase in visitor numbers. Alongside passenger growth, the airport experienced a 3.5 per cent increase in flight operations, totalling 8,650 takeoffs and landings, underscoring its expanding role as a key transport hub for the island.
Credit: Alcudia.net
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Delivering essential products.
January surge
Water wisdom
IN response to the dwindling water reserves, which stand at 42.97 per cent capacity, EMAYA has initiated a campaign urging Mallorca’s residents to use water judiciously. Under the motto, ‘Let’s be realistic, the cup is half
empty. Don’t spill the water,’ the initiative seeks to instil a culture of conservation. Recommendations include favouring showers over baths, turning taps off when not in use, and ensuring appliances are
fully loaded before running them. Llorenc Bauza, the deputy mayor for the Environment, emphasised the non-alarming yet cautious state of water levels, attributing future security to rainfall. “We cannot, nor should we, trust ourselves, since the levels depend on the rains,” he stated. The campaign, shared on social media and customer bills, highlights water as a precious commodity, advocating for its careful utilisation to safeguard Mallorca’s resources.
Credit: noticies.palma.es
Campaign poster.
• Local News •
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In mourning
AT 11.30am on Monday, February 12, Marga Prohens, President of the Balearic Islands Government, joined in a minute’s silence at the Consulate of the Sea, in Mallorca to honour the two Guardia Civil officers who were recently killed in the line of duty in Barbate, Cadiz.
Athletic boost
THE Balearic Government has earmarked €1.1 million for 2024 to aid its outstanding athletes, a 10 per cent increase from 2023. This initiative aims to enhance training facilities and competition access, targeting athletes with top results in events such as the Olympic Games, Paralympic Games, as well as national events.
Staff needed
PALMAACTIVA launches Employment Month in Palma, offering 1,353 jobs from February 12 until March 18 at Carrer del Socors. The event connects job seekers with HR managers from 38 companies. Positions range from waiter, cook, floor waiter and receptionist.
Airport detour
THE Council of Mallorca announced overnight road closures at the entrance of the Son Sant Joan Airport (Santanyí direction) due to essential asphalt maintenance which took place on Tuesday, February 13.
Palma protest
FORO BALEARES calls for a demonstration in Palma on February 18, demanding the resignations of President Pedro Sanchez and Interior Minister Fernando Grande Marlaska. The event, starting at Plaza de España at 12:00, aims to honour the Guardia Civil.
hens announced the strengthening of mental health support within Mallorca’s schools, underscoring suicide prevention and early detection in young people. The initiative includes adding professionals to the CoorEduca Mental Health programme, aimed at managing cases of suicidal behaviour among the youth. Prohens revealed this during the meeting for the Balearic Islands’ Strategic Plan for Emotional Well-being and Mental Health 2023-2029. The plan, collaboratively steered by the Ministries of
Young minds Credit: caib.es
Monday, February 12, NIBS EXTRA ON President Margalida Pro-
15 - 21 February 2024
Strategic plan for mental health meeting.
Health, Education, and Families and Social Affairs, will outline strategies and
actions for mental health intervention. Highlighting the urgency, Prohens no-
ted the concerning rise in mental health issues, with an alarming 109 suicides across the Balearic Islands in 2022. “The mental health of our young people is particularly worrying,” Prohens stated, emphasising the commitment to preventing and detecting mental health disorders. The initiative aims to pioneer a new model for mental health care, focusing on a person-centred approach and inter-institutional cooperation.
Pool ban?
Science sisters
IN light of Mallorca’s looming drought alert, the environmental group Gob is urging a halt to new pool constructions. Gob’s leader, Margalida Ramis, cautions that the Balearic Islands could soon face a crisis akin to Catalonia’s recent water emergency. Despite a slight improvement in January, with water levels in the Balearics rising from 53 per cent to 54 per cent, the entire island of Mallorca remains under an advance drought warning. Ramis stresses the importance of pre-emptive action to avoid resorting to ‘emergency measures’ seen in Catalonia and Andalucia. She highlights the island’s heavy reliance on tourism, which doubles its population during the summer, straining water resources. Ramis argues for preventing water waste and promoting responsible use, especially since more than 20 per cent of water is currently lost to leaks. The call to action comes amid a critical need to safeguard Mallorca’s water supply for its residents and the bustling tourist industry.
ON the occasion of the International Day of Women and Girls in Science, commemorated on February 11, the Balearic Islands Health Research Institute (IdISBa), in collaboration with the Ministry of Health and the Ministry of Education and University, celebrated ‘Scientists in the Classroom’. This inspiring initiative saw over 55 female scientists from diverse scientific fields sharing their personal experiences with primary and secondary students across more than 65 educational centres in the Balearic Islands, including 45 in Mallorca, four in Menorca, two in Formentera, and 15 in Ibiza. The goal was to spotlight their work, combat stereotypes, and encourage a new generation of scientists by promoting gender equality in science and technology. Now in its seventh year, this event underlines IdISBa’s commitment to showcasing the pivotal role of science and research in society and providing young students with female scientific role models.
Storytime THE Council of Mallorca has finally announced an initiative to declare Mallorcan fairy tales as an intangible cultural heritage of the island, a significant step towards preserving these unique cultural manifestations. This decision, prompted by the Francesc de Borja Moll institution, aims to protect the rich legacy collected by notable figures Antoni Maria Alco-
ver and Francesc de Borja Moll. Llorenc Galmes, president of the Council, highlighted the crucial work of Alcover, who documented fables from nearly 250 storytellers across 33 localities, thereby preserving the island’s traditional language. Antonia Roca, vice president and minister of Culture and Heritage, underscored the urgency of this measure, especia-
lly since Mallorca was the only Balearic island without intangible heritage regulations following the 2019 Heritage Protection law. The Council is also planning cultural activities to celebrate and keep alive the essence of these tales, promising that, in a few months, they will formally become part of Mallorca’s protected intangible heritage.
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YOUR EWN HAS
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STORIES in this week’s edition
Film Festival THE Port Authority of the Balearic Islands (APB) has issued a notice regarding the temporary closure of vehicular access to the Can Barbara dock, from Av. Gabriel Roca, next to the Natzaret Gardens, which was scheduled from February 14 to 16. The timing of the work has been carefully planned to both facilitate the timely advancement of the refurbishment and to reduce inconvenience to the public. Vehicle access is expected to be reopened on February 16, ensuring that weekend activities in this popular area are not affected. During the closure period, access to Can Barbara Dock from Av. Gabriel Roca will be exclusively via the pedestrian route along Calle Porto Pi.
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• Feature/News •
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Here be dragons BILL ANDERSON FEBRUARY 10 saw billions of Chinese people celebrating new year: the year of the wood dragon. New year, regardless of when we celebrate it, always represents a new start, new beginnings, new opportunities. I think it is a good thing that we can’t only do this once a year on the New Year that we celebrate. Personally, I am not a follower of astrology, or zodiacs, but I also guess I am not alone when I say that when there are good predictions for the future in my sig-
ns, I am notionally attracted to the idea. When they predict hard time ahead, my scepticism takes over. The dragon is the only mythical creature in the Chinese zodiac, which makes it a bit magical, so when it says that the wood dragon will be a good year for culture and publishing, I grasp at the promise, being both a writer and working in publishing. The origin of the expression “Here be dragons” goes back to the medieval map makers who would write ‘hic sunt dracones’ with an illustration on dangerous or unexplored territories. They would also use sea monsters and other mythological creatures
on uncharted areas where potential dangers were thought to exist. So, why do I behave in such an irrational way about the possibility of good times ahead? It’s simple really. We all need to live in the hope that the future will be even better than the past. As well as being the guardian of all our happy times, good experiences, and fond memories, the past also holds on to all our failures, bad experiences, and our mistakes. Without the hope of a future where we do things better, use the learned wisdom of our past to avoid the same mistakes in the future, we are fated to the same misery of our past human flaws mingling with our achievements in the future and diminishing them. The story of Pandora’s box teaches us the lesson that while we are surrounded by all the evils in the world: sickness, suffering, and co-
rruption, there is still hope for the future, and without that hope, without our dreams, what provides us with the strength and determination to go forward with positivity? So, what opportunities does the year of the dragon present us with? Well, the number 9 is important as it represents feminine energy, and this will be a good year for women whom we will see coming to the fore on many areas. According to the advice from the experts we should also attend more happy events to lure positive energy. I’m up for that. I’m a Dog in the Chinese zodiac, so of course I want to know what is in store for me. It could be a year of challenges, but that isn’t all negative as challenges also bring growth. As long as it’s not around my midriff, I’m up for that. Whatever your take on this is, I wish you all happiness.
Bill Anderson’s opinions are his own and are not necessarily representative of those of the publishers, advertisers or sponsors. bill-anderson@euroweeklynews.com
ITV alert Credit: conselldemallorca.cat
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MALLORCA’S vehicle inspection service, the ITV, managed by the council and concessionaire SGS, announces available appointments across its five stations, capable of inspecting about 1,500 vehicles per day. Recently, the Palma I station (Son Castello) had openings for February 20, from April 24 to 30, and throughout May. Similarly, other stations, including Palma II (Son Oms), Inca, Manacor, and a mobile unit in Calvia, offer various dates. The news follows a brief hiccup at the Palma I station, where a technical error prevented appointment bookings, an IT issue that was
promptly fixed within hours. The gradual appointment release strategy aims to combat the 20 per cent no-show rate, improving efficiency and reducing wait times from over four months to around two months since last July. System improvements include Saturday openings and the extension of the mobile station’s contract in Calvia, averting a potential decrease in monthly inspections. The initiative has already facilitated 6,000 additional appointments. The new Calvia station will significantly expand inspection capacity, expected to handle around 8,000 vehicles monthly.
• Local News •
Charity race presentation.
EXCITING news for sports enthusiasts and charity supporters in Mallorca: Palma has officially joined the lineup of 10 Spanish cities hosting the ‘Ponle Freno’ charity race on April 21. This initiative, led by the Atresmedia group and the Axa Foundation, focuses on raising funds for victims of traffic accidents. David Salom, Palma’s General Director of Sports, alongside IME manager Miguel Angel Bennassar, represented the city at the
Race returns recent presentation in Madrid. They shared plans for the race to possibly unfold along the scenic Passeig Maritim or Platja de Palma, enhancing its appeal with a stunning coastal backdrop. The inclusion of Palma in the event, after a hiatus since 2017, signifies a strong community commitment to suppor-
ting a vital cause. Since its inception in 2008, the initiative has raised nearly €2.7 million, with last year’s event alone attracting 34,000 participants and surpassing €300,000 in donations. The race not only embodies the spirit of solidarity but also showcases Palma’s picturesque landscapes to runners and spectators alike.
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Cheers!
IN a staggering display of camaraderie and beer appreciation, over 40 Germans have set a new drinking record in Mallorca, consuming an astonishing 1,330, 0.2-litre glasses of beer. This feat was accomplished at the Deutsches Eck in Playa de Palma, with the group managing an average of 28 glasses each, equating to 5.8 litres per person. The marathon session, which spanned almost eight hours, began at around 11.00am and wrapped up around 7.00pm Saturday, February 10. This record-setting spree resulted in a bar bill exceeding €2,793, surpassing the previous record of 1,234 glasses set last October. The event, captured by several cameramen, has been shared widely on YouTube. “We were a great group, with 56 people
5 Credit: puhhha/Shutterstock.com
Creditnoticies.palma.es
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Bartender pouring a beer.
of different ages, from 19 to 67. We all had a great time and partied together, something that is unfortunately almost unheard of nowadays: bringing together young and old to share a common experience,” said one participant on social media.
Skeleton unearthed IN a chilling discovery on Tuesday, February 13, skeletal remains were found beside the Municipal Transport Company (EMT) garages, directly opposite the town of Son Banya. The National Police’s Homicide Group, alongside the Scientific Police, promptly conducted a meticulous visual inspection of the scene. This macabre find, made around 5.00pm, has sparked an intense investigation to uncover the identity and cause of death of the
deceased. Authorities are now working to determine whether the skeleton is that of a man or a woman, with plans to compare DNA samples against records of missing individuals. The remains are set to be transferred to the Institute of Legal Medicine of Palma for a detailed post-mortem, seeking any signs of injury that might shed light on the cause of death. The case is now in the hands of the judiciary, awaiting further examination.
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• Local News •
IF you have not already registered for the meeting and drive on Saturday February 24 and would like to do so, please do so now. The booking registration for this event will close on Saturday February 17, as they must inform the restaurant of numbers and food choice at this time. There is a restriction on the numbers the restaurant can seat, so it is important to book now to guarantee your place. If you would like to just go for the drive, please also register so they can organise the route printing numbers. If you have booked for the event already, but are unable to attend, then please inform them as soon as possible. Event registration can be done on ccc-ma llorca.com.
Credit: conselldemallorca.cat
Classic Cars Mallorca
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Pet pass Credit: Vasek Rak/Shutterstock.com
New rules for train travel.
Mallorca Council headquarters.
Migrant crisis IN response to the escalating arrival of unaccompanied children migrants to Mallorca’s shores, the IMAS has convened a special governing council. Since 2021, Mallorca has witnessed a continuous increase in migrant arrivals, a trend that has persisted into early 2024. These arrivals have now surpassed the figures recorded in the first quarter of 2023, highlighting an urgent need for action. Last week, officials took decisive steps by making spaces available at the La Bonanova residence to mitigate overcrowding in reception centres. This move, as
Guillermo Sanchez, councillor of Social Welfare of the Council of Mallorca and president of the IMAS, assures, will not affect the residence’s normal operations. The areas designated for children are separate, ensuring no disruption to existing residents or staff. Sanchez emphasises ongoing efforts to address this challenge, stating, ‘In recent months, we have worked and continue to work to deal with the growing arrival of unaccompanied children and already we have doubled the number of places available.’
OWNERS of dogs and other small pets, including cats, ferrets, and small birds, are set to celebrate a new initiative by Serveis Ferroviaris de Mallorca (SFM), introducing pet-friendly travel on the metro and train. Starting in March, pets will be allowed onboard for the first time, but with conditions. To ensure a smooth journey, pets will be restricted to the last carriage of the train. Dogs are required to be on a leash and muzzled or placed in carriers, while cats, ferrets, and small birds must travel
in appropriate carriers. All dogs must have an identification microchip, and breeds listed as potentially dangerous, as well as exotic animals like reptiles and insects, are prohibited. The initiative, approved by the SFM Board of Directors, includes free travel for small pets. Larger dogs that can’t be carried will need a ticket, except for assistance animals, which travel free. SFM advise travelling outside peak hours and keeping a close distance between pet carriers and owners.
• Local News •
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Fishermen protest
Imported fish should be subjected to stringent requirements.
FISHERMEN in the Balearic Islands are rallying behind the agricultural protests currently sweeping across Spain, sharing grievances similar to those of local farmers. The heart of their demand is a call for equity, they insist that fish imported from non-EU countries should be subjected to the same stringent requirements imposed on fish from the Balearic Islands by the European Union. Domingo Bonnin, president of the Balearic Federation of Fishermen’s Guilds, voiced this demand, stressing the disparity in regulations between local and imported products. “Europe requires the fishing sector in community territory to
comply with a whole series of social, economic, and environmental measures that make the Balearic product more expensive,” Bonnín explained. This disparity not only questions the traceability of food but also places local fishermen at a competitive disadvantage. The Balearic fishermen’s call for action echoes the broader unrest in Spain’s agricultural sector, seeking reduced labour costs and the application of the Food Law. With a decision pending from the National Federation of Fishermen’s Guilds, the Balearic fishermen stand united in their quest for fairness and sustainability in the industry.
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Nadal’s triumph RAFAEL Nadal’s indomitable spirit continues to captivate brands, despite a challenging year plagued by injuries and a plummet to 662nd in the ATP Rankings. Opting to press on rather than retire, Nadal’s resilience has only bolstered his brand. In 2023, he not only ventured into new business with Cantabria Labs to launch a sports performance product but also secured a sponsorship deal for his academy with Bezoya. His unwavering appeal has long attracted top sponsors like KIA, Nike, and Banco Santander, who remain committed to supporting the Mallorcan beyond his playing days. KIA’s extension until 2028 exemplifies the lasting bond and mutual ambitions shared between Nadal and his sponsors.
• Local News •
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Taxi boost IN an innovative move to meet the surging demand during the tourist season, Santanyi’s town hall has announced the creation of ten new temporary autotaxi licences. Set to be active from May 15 to October 15, these licences aim to enhance transportation services for both residents and visitors. Mayor Maria Pons highlighted the importance of consensus with local taxi professionals, acknowledging the significant increase in demand. “We have met with professionals from the sector in our area to reach a consensus. Demand during the tourist season has increased considerably, so it was necessary to make a decision of these characteristics, always counting on the opinion of the municipality’s taxi professionals.” With Santanyi currently hosting 50 taxi
Cancer pledge Credit: Artesia Wells/Shutterstock.com
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Temporary licences for taxis.
licences, this addition is a welcomed boost. The application process will involve a public lottery if demand exceeds supply, ensuring fairness and transparency. Deputy Mayor Joan Gaspar Aguilo expressed satisfaction with the regulation, aiming to improve service quality during Mallorca’s peak tourist months.
THE Council of Mallorca has unanimously approved an institutional declaration following World Cancer Day on February 4, a date set by the World Health Organisation to boost awareness and propel advancements in prevention and control. This year’s declaration also marked the International Day of Children with Cancer on February 15, emphasising the critical need for early diagnosis and support for affected families. With cancer impacting 1.5 million people
ON Monday, February 12, Jaime Martinez Llabres, the mayor of Palma, announced the construction of the Son Moix athletics track, a project set to revolutionise the city’s sports facilities. Described as a pivotal development in the city’s journey towards sporting excellence, the new track aims to boost Palma’s standing as a prime venue for major national and international events. The design, courtesy of VividSports studio, emphasises ecological integra-
across Spain and 6,511 cases in the Balearic Islands alone, the Council stresses the importance of research as a means to transform cancer into a predictable and curable disease. The statement also extends gratitude towards healthcare professionals, researchers, and cancer-fighting organisations for their relentless dedication. For all this, the Council of Mallorca has agreed to continue promoting research, as it is the way to make cancer a disease that can be predicted and cured.
Track project tion and will feature a 400-metre track suitable for top-tier competitions, a covered grandstand for 1,500 spectators, and comprehensive facilities including a cross/running circuit and a multi-use building. “With the construction of this sports facility, the city will have one of the best and most modern infrastructures for athletics in Spain and beyond,” Martínez stated.
• Feature•
euroweeklynews.com OUR pensions are often key for our long-term financial security, but they are complex. Deciding what to do with yours involves navigating various options, establishing how they suit your objectives, researching the tax implications and weighing up the pros and cons. UK pension and tax regulations change regularly. Keep up to date on relevant reforms in UK and Spain to review your retirement planning as necessary and make informed decisions. Lasting a lifetime, the longevity factor How long will you live? And your spouse? This is an unknown but essential factor in financial planning, since your money needs to last as long as you do. You may live to a ripe old age so having a financial planning road map is important. Many people often overestimate how long retirement savings will last. While you may be able to afford living necessities, your later retirement lifestyle could fall well below expectations. Much depends on the type of pension. A pension providing a secure income for life can give peace of mind. Other options
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Protect your pensions and retirement savings for the long-term
By Cathal Rochford, Partner, Blevins Franks
provide the opportunity for your funds to grow, but you should carefully manage investment risk and the rate of withdrawals. The inflation, income and investment factors Recent years reminded us how inflation can impact our spending power. Even low levels reduce the value of savings and income over the long-term, so plan ahead to protect your pensions and investment capital. When the cost of living is high people may be tempted to
draw larger amounts from their pension fund. When combined with longevity, the impact of spending too much in the short term (especially when portfolio returns are lower than average) can affect the long-term value of your funds and ability to meet future income requirements. This can cause a dilemma for retirees who need to meet today’s needs while protecting their future needs. With a sensible portfolio and drawdown plan, this can be effectively managed. The key is to understand your financial needs and adjust your plan to cater for the year-to-year increases in the cost of living and portfolio performance over time. The tax factor When weighing up the options for your UK pension you also need to consider the Spanish tax implications. Most UK pension income (except government service pensions) is subject to Spa-
nish taxation if you are resident here, including lump sums. The UK’s 2023 budget abolished the pensions lifetime allowance and resulting tax charges. However, with effect from 6th April three new allowances – the ‘lump sum allowance’, ‘lump sum death benefits allowance’ and ‘overseas transfer allowance’ – are scheduled to come into effect. The advice factor Pensions are personal so establish a solution that works for your circumstances and objectives. Since they are complex and wrong decisions could impact your retirement security, you need to take professional, regulated advice. The problem for British expatriates is that most UK advisers are not regulated to give advice to EU residents – they lost ‘passporting’ rights with Brexit. Even without this issue, it’s important to get local advice in
Spain. Most UK-based advisers don’t have in-depth understanding of Spanish taxation and potential pitfalls and benefits, which can result in you paying much more tax than necessary. Find a qualified advisory firm which is regulated to provide advice on UK pensions in Spain and has the specialist cross-border advice you need - thorough knowledge of UK pension regulations and of both UK and Spanish taxation and interaction between them. The 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; an individual should take personalised advice. Keep up to date on the financial issues that may affect you on the Blevins Franks news page at www. blevinsfranks.com.
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• European Press •
IRELAND
EUROPRESS
TWENTY-FIVE per cent of six-year-olds in Ireland own a smartphone, a survey carried out for online safety charity CyberSafeKids found. Twenty-five per cent of parents were worried about cyber-bullying and porn although 20 per cent felt the benefits of the internet and social media outweigh the risks for children.
Measles peril AN adult whose personal details have not been disclosed died in hospital in the Dublin and Midlands health region after contracting measles, the Health Service revealed. This was the first known case of measles in 2024, while four cases were reported in 2023, with two in 2022, none in 2021 and five in 2020.
NORWAY
GERMANY
Photo credit: CC/Clemens Franz
Starting early
euroweeklynews.com
Go slow AVANT GARDE composer John Cage’s Organ²/ASLSP (As Slow as Possible) changed chord for the first time in two years, performed on a specially-constructed organ at a Halberstadt church. The piece, whose finale arrives in the year 2640, has had 16 chord changes since it began in 2001, commencing with 18 months of silence.
Huge loss LABORATORY samples collected over decades and used in leukaemia research, amongst other fields, were destroyed owing to a freezer fault over Christmas at the Karolinska University Hospital in Solna. The samples’ value “was easily in the millions”, said Matti Sallberg, dean of the university’s southern campus.
Less timber SWEDEN’S timber stocks fell to 7.4 million cubic metres during the last quarter of 2023, a 4 per cent reduction on the same period the previous year. “Timber stocks were low compared to the end of 2022, but also compared to the average for the same time over the past five years,” the Swedish Forest Agency announced.
HALBERSTADT CHURCH: John Cage composition comes to an end in 2640
ITALY
SWEDEN
FRANCE
DENMARK
No asylum
Burst bubbles
SUV surfeit
Mopeds out
ANDREY MEDVEDEV, who defected from the Wagner mercenary group in January, was refused full asylum but will be allowed to reside temporarily in Norway owing to the “security risk in returning him to Russia.” While willing to testify regarding war crimes in Ukraine, Medvedev denies having committed any himself.
PROSECCO producers launched a UK advertising campaign, warning drinkers that it could not be called prosecco when sold on tap. It was important for customers to be aware that prosecco can only be marketed in bottles and selling it in any other manner was fraudulent, the president of the Prosecco Consortium declared.
VOTERS in Paris supported a proposal from city mayor Anne Hidalgo to triple parking charges on hefty SUV and ‘Chelsea tractor’ vehicles, the official count-up revealed. Parisians voted 54.55 per cent in favour of charging cars of 1.6 metric tons or more €18 per hour to park in the city centre and €12 further out.
COUNCILLORS at Frederiksberg city hall voted to ban mopeds from using the bicycle lanes it shares with neighbouring Copenhagen. Danish traffic laws allow mopeds on these but they are a problem in cities with a high volume of two-wheeled transport, particularly riders for delivery companies, councillors agreed.
Lead on
No let-up
Olympic wages
Fare-dodger
DOG-OWNERS who take their pets to Oslo’s Nordmarka forest area must now keep them on the leash or pay a fine if they run free. This year’s extreme cold and deep snowdrifts have adversely affected wildlife with loose dogs attacking deer and other vulnerable animals whose wounds required them to be put down.
ITALY continues its efforts to counter overtourism in favourite destinations but is also focusing on short-term rentals, which are strictly controlled nationwide with licences banned entirely in some towns and cities. These include the city centre in Florence where city hall hopes to make more housing available to locals.
INVESTIGATING judges specialised in financial crime are checking the system used to pay Tony Estanguet, chief executive of the Paris Olympics’ organising committee, said sources who insisted on anonymity. The committee expressed “surprise” at the investigation, while the Public Prosecutor’s office declined to comment.
RUSSIAN Sergey Vladimirovich Ochigava (46) who boarded a Scandinavian Airways aircraft bound for Los Angeles at Copenhagen airport in November 2023 without a passport, ticket or visa was a stowaway, a US jury decided. Ochigava, who holds both Russian and Israeli passports, now faces a five-year prison term.
BELGIUM
NETHERLANDS
FINLAND
PORTUGAL
Buck’s visit
Mighty mice
Digital outlaws
Green power
CHESTER P SLOAN, nicknamed Buck and a Second World War veteran, will see the Normandy beaches once more on the 80th anniversary of the D-Day landings. This time he will be accompanied by his wife, thanks to a fundraising campaign by Randy Buelens who has raised the €4,000 needed to pay for their visit.
HEALTH AND SAFETY inspectors closed online supermarket Picnic’s 2,000-square metre distribution centre in Zaandam after it was overrun with mice. They were detected during a routine check, after which all unwrapped items or food in easily-penetrated packaging was destroyed and the centre fumigated.
VICTIMS ‘gave’ €44 million to online scammers in 2023, duped by Ponzi-type investment schemes, emails or computer malware, the Finance Finland (FFI) lobby group revealed. A total of €77 million was lost this way, compared with €47 million in 2022, although banks intervened in some cases, returning €33 million.
RENEWABLE energy supplied 81 per cent of Portugal’s electricity in January, according to Redes Energeticas Nacionais (REN), the national grid operator. Hydropower plants made the most significant contribution to the country’s needs, accounting for 47 per cent, followed by windfarms (25 per cent).
No more
Think again
No-no names
Brussels ire
NEW admissions to Antwerp jail were put on hold as guards revealed the prison was ‘full to overflowing’ with 70 inmates already sleeping on the floor, which they said was heightening tensions. The Belgian prison system with room for 10,000 prisoners had a record high of 12,012 by late January, the authorities said.
THE Netherlands Education Council asked the government to reconsider admitting fewer international students to Dutch universities and reducing the number of classes in English. While accepting fewer foreign students could be “positive”, the language change could affect educational quality and research, the council said.
FINLAND’S Names Board, attached to the Justice ministry, recently released a list of the new names it approved or rejected in 2023. Harry Potter’s Voldemort was vetoed, along with Jezebel and Yes, since Finnish law does not accept first names that are potentially offensive or “harmful to the person bearing it.”
THE European Commission announced that it is taking action against Portugal at the Court of Justice of the European Union (CJEU) for not complying with a December 2023 ruling. This required the country to designate 61 ‘sites of community importance’ as ‘special conservation sites’ under habitat conservation rules.
FINANCE €1.1 billion VAT-free review 12
euroweeklynews.com • 15 - 21 February 2024
STAT OF WEEK
has been raised by Bankinter Asset Management’s recordbreaking Premium Fixed Income investment fund in the three months since its launch in November 2023.
BUSINESS EXTRA Cost-cutting
BIG FOUR accountant Deloitte, whose partners earn approximately £1 million (€1.17 million) annually, employs 27,000 people in the UK and proposes to make 100 employees redundant. The future job cuts will affect 5 per cent of financial advisory service staff, coinciding with a deal-making decline and high interest rates.
Old guard
PHARMACEUTICAL company Grifols announced a new chief executive and three members of the founding family resigned their executive roles on February 5, four weeks after an attack by the short-seller fund Gotham City queried its accounting. Shares slumped a month ago but have now risen by 1.5 per cent.
On track
MARKS & SPENCER is set to leave Waitrose behind as it woos more of its well-heeled customers. Data experts Nielsen announced recently that M&S is currently tied with Waitrose, with each on 3.8 per cent of the market compared with 2021 when Waitrose accounted for 4.2 per cent and M&S for 3.2 per cent.
Ford layoff
UNIONS at Ford’s Almussafes (Valencia) have requested a furlough scheme affecting up to 750 employees a day between February and April 2024. Following an advisory committee meeting, UGT, which represents the majority of workers, announced that it was prepared to extend layoffs only until late March.
Don’t split
ANALYSIS by the Federal Reserve Bank of St Louis, part of America’s Reserve System, revealed that while divorce is costly for both men and women, males usually lost twice as much of their income. US couples who separated in 2023 saw an average 12 per cent reduction in income.
Linda Hall BRITAIN’S Chancellor Jeremy Hunt has asked the Office for Budget Responsibility (ORB) to review the decision to scrap tax-free shopping for tourists. Prime Minishter Rishi Sunak, who was Chancellor at the time, decided to abolish the VAT-free concession in 2021. Sunak claimed that the benefits were “almost entirely” enjoyed by a handful of shops, restaurants and hotels in central London. The move currently brings in an annual £2 billion (€2.34 billion) although its many critics, like fashion designer Sir Paul
Photo credit: Flickr/Garry Knight
LUXURY BRANDS: No VAT could boost tourist spending.
Smith, argue that this does not compensate for what is lost on tourist spending. “It’s not always necessarily about rich shoppers coming to buy cheap handbags,” Sir Paul told Sky News, while revealing that one-third of his business relies on the tourism market.
“It’s the fact that when they’re here, they do spend money in our great cities,” he said. He also pointed out that European hotels had recovered after the pandemic. “We haven’t, so it’s about bringing people to the country and seeing all the fantastic things we’ve got.”
A bite of the Apple SPAIN’S National High Court in Madrid suspended as a precautionary measure €194 million in fines imposed on Apple and Amazon in July 2023. The National Markets and Competition Commission (CNMC) anti-trust watchdog concluded that a 2018 agreement between the companies had restricted competition on Amazon’s Spanish website. This affected “without justification” the online market for mobiles and electronic devices in Spain, the CNMC said,
Boss needed SHARES in NatWest, bailed out by the British government in 2008, could go on sale to the public by June 2023. Before it can do so, Charles Donald, the UK Government Investments (UKGI) chief, told a parliamentary committee that the bank should first name a successor to Dame Alison Rose, who resigned as chief executive following last year’s debanking scandal involving former politician Nigel Farage. Either Rose’s interim substitute Paul Thwaite should be confirmed in the role, or a permanent chief executive appointed, Donald said.
handing Apple and Amazon respective €143.6 million and €50.5 million fines. This affected Mac computers, iPhones, iPads, Apple Watch and Airpods amongst other products. Amazon also limited advertising by competitors, influencing results on the website when would-be buyers searched for products, the CNMC said. Prices for Apple devices rose following the deal, the regulator said. As expected, both Apple and Amazon lodged appeals against the fines. These were accepted in December
Barratt deal BARRATT has bought its smaller housebuilding rival, Redrow, in a deal that topped £2.5 billion (€2.9 billion). The two companies, which had a combined market value of £7.2 billion when markets closed on February 6, negotiated an all-share offer establishing Barratt as the UK’s largest housing constructor. Barratt Redrow, the merged companies’ new name, will build 23,000 homes annually with a predicted £7 billion (€8.2 billion) turnover. Both boards backed the transaction, as well as Steve Morgan, who founded Redrow 50 years ago with a £5,000 loan (€5,861) from his father and still holds 16 per cent of its shares.
The designer is one of more than 400 business-owners who signed an open letter organised by hotelier Sir Rocco Forte, asking the Chancellor to eliminate what amounts to a tourist tax. Shares in luxury brands climbed on Monday, February 4, in response to an article disclosing the requested OBR review which was published in The Sunday Times the previous day. Shares in Burberry, Mulberry and Watches Of Switzerland Group all rose, but although hotel stocks were also boosted, the increase was less perceptible.
Photo credit: CC/Sounder Bruce
AMAZON HEADQUARTERS: Online giant allegedly conspired with Apple.
2023, leaving in doubt whether the fines will eventually be imposed or modified by the National High Court. The tribunal also temporarily suspended a CNMC order preventing Apple and Amazon from bidding for public sector contracts.
Wind power ploy KRAFT HEINZ intends to build a £40 million (€46.9 million) green-powered hydrogen plant at its Kitt Green (Wigan) baked bean factory. The parent company has now signed an agreement with energy firm Carlton Power to produce plans for the future installation. The factory where a staff of 850 produce baked beans, soups and spaghetti hoops would produce hydrogen from renewable sources, principally wind and solar power. This should cover more than half of the factory’s annual natural gas needs while reducing its carbon emissions by roughly 16,000 tons a year.
Hotel tactics INDITEX founder Amancio Ortega has chosen Portugal’s second largest hotel chain, Vila Gale, to run one of the 18 hotels he owns there. Hotel Mercure in Figueira da Foz, which Ortega acquired in 2004, was formerly managed by the Accor group and reopens following extensive renovations to its 102 rooms, two restaurants, bar, spa and other installations in April this year. Vila Gale had a record turnover of €275 million in 2023 and its chairman Jorge Rebelo de Almeida, who is worth an estimated €1 billion, plans to enter the Spanish market with a 300-bedroomed hotel in Huelva in April.
Cheaper transfers ALL European banks must now offer their clients immediate transfers free of charge or at the same price as the ordinary procedure. The European parliament approved the measure on February 4, with 599 votes in favour, seven against and 55 abstentions. “Charging a different commission for immediate transfers is now banned,” explained Spanish Euro MP Jonas Fernandez who was part of the Economic Affairs and Monetary Committee which worked on the new legislation. “This will make bank charges cheaper, because some banks in Spain take a commission on immediate transfers but will no longer be able to do so,” Fernandez told financial daily, Cinco Dias.
Airbus bait AIRBUS could expand its Albacete plant if a future subsidy from the Spanish government comes through. Spain owns 4 per cent of Airbus and the government wants the company to increase its investment in the country, according to reports from Bloomberg. The installation on the outskirts of Albacete city produces components destined for civilian and military helicopters and expanding the plant would fit in with government plans to attract more industrial and arms’ investment.
14 EWN 15 - 21 February 2024
euroweeklynews.com II FINANCE
LONDON - FTSE 100
Closing Prices 12 February
Company
Price(p)
Change(p)
% Chg.
Net
3I Group.....................................2.395,00.............+13,00........... +0,55%......... 514,14K Admiral Group.............................2.523,0................ -8,0..............-0,32%.......... 235,09K Airtel Africa................................. 103,60................ -0,30.............-0,29%.......... 904,32K Anglo American...........................1.713,0............... -26,6.............-1,53%............1,09M Antofagasta................................1.640,00............. -10,00............-0,61%............1,51M Ashtead Group............................5.234,0............... -30,0.............-0,57%........... 53,55K Associated British Foods.............2.247,0.................0,0............... 0,00%.......... 466,46K AstraZeneca................................9.925,0..............+102,0........... +1,04%......... 605,71K Auto Trader Group Plc................ 710,60................ -9,80.............-1,36%............1,64M Aviva........................................... 417,00................ -3,70.............-0,88%............1,78M B&M European Value Retail SA... 499,40................ -0,50.............-0,10%.......... 463,95K BAE Systems..............................1.204,50..............+9,50............ +0,80%......... 613,98K Barclays...................................... 143,46................+0,30............ +0,21%..........10,11M Barratt Developments................. 483,60................ -3,90.............-0,80%............3,19M Beazley........................................ 564,00................+3,00............ +0,54%......... 933,94K Berkeley......................................4.695,0...............+25,0............ +0,54%.......... 23,11K BP............................................... 482,85................+6,60............ +1,39%..........10,60M British American Tobacco...........2.441,0............... -43,0.............-1,73%............1,22M BT Group.................................... 105,15................ -0,55.............-0,52%............6,61M Bunzl...........................................3.218,0...............+18,0............ +0,56%......... 233,84K Burberry Group...........................1.268,0............... -28,0.............-2,16%.......... 793,42K Centrica....................................... 132,90................ -0,45.............-0,34%...........18,74M Coca Cola HBC AG......................2.200,0...............+23,0............ +1,06%......... 236,16K Compass....................................2.237,00.............+26,00........... +1,18%...........1,59M ConvaTec Group......................... 240,40................+5,80............ +2,47%...........9,42M Croda Intl....................................4.991,0............... -31,0.............-0,62%.......... 365,65K DCC.............................................5.768,0................ -8,0..............-0,14%........... 16,37K Diageo.........................................2.916,0............... -10,0.............-0,34%.......... 999,88K Diploma.....................................3.404,00.............+18,00........... +0,53%.......... 43,34K DS Smith.................................... 316,90................+8,30............ +2,69%...........3,67M Endeavour Mining......................1.284,00.............. -6,00.............-0,47%........... 70,03K Entain.......................................... 999,80...............+13,20........... +1,34%......... 324,43K Experian......................................3.382,0...............+44,0............ +1,32%......... 643,02K F&C Invest.................................. 989,00................+5,00............ +0,51%.......... 81,98K Flutter Entertainment..................16.785,0..............+65,0............ +0,39%.......... 40,63K Frasers........................................ 785,00................ -7,50.............-0,95%.......... 546,18K Fresnillo...................................... 484,20................ -9,00.............-1,82%............1,74M Glencore...................................... 386,06............... -10,74............-2,71%...........13,76M GSK plc......................................1.661,40.............+10,40........... +0,63%...........1,45M HALEON...................................... 321,30................ -1,70.............-0,53%............8,28M Halma..........................................2.215,0................+2,0............. +0,09%......... 210,36K Hikma Pharma...........................1.962,50.............+32,50........... +1,68%.......... 36,16K Howden Joinery.......................... 785,00................+1,80............ +0,23%...........1,07M HSBC.......................................... 611,90................ -5,80.............-0,94%............2,82M IAG.............................................. 145,00................+0,40............ +0,28%...........2,05M IMI PLC......................................1.711,00.............. -4,00.............-0,23%........... 29,17K Imperial Brands..........................1.881,00.............+22,50........... +1,21%......... 754,30K Informa....................................... 802,20...............+11,00........... +1,39%...........1,30M InterContinental..........................7.708,0...............+74,0............ +0,97%......... 154,68K Intermediate Capital...................1.789,75..............+7,75............ +0,43%......... 524,28K
Company
Price(p)
Change(p)
% Chg.
Net
Intertek........................................4.476,0...............+42,0............ +0,95%......... 287,00K J Sainsbury................................. 257,70................ -1,70.............-0,66%............4,31M JD Sports Fashion....................... 105,29................+0,80............ +0,77%...........2,13M Kingfisher.................................... 218,50................ -1,40.............-0,64%............1,37M Land Securities........................... 635,60............... -14,60............-2,25%.......... 817,95K Legal & General.......................... 238,20................ -3,10.............-1,28%...........11,78M Lloyds Banking............................ 41,53..................0,00.............. 0,00%...........78,08M London Stock Exchange..............8.852,0...............+60,0............ +0,68%......... 462,21K M&G........................................... 221,20................+1,50............ +0,68%...........2,31M Marks & Spencer........................ 236,90................ -0,10.............-0,04%............1,57M Melrose Industries...................... 600,00................+5,00............ +0,84%...........2,40M Mondi.........................................1.341,00..............+4,50............ +0,34%......... 528,15K National Grid..............................1.002,00............. -11,00............-1,09%............2,16M NatWest Group........................... 213,00................ -2,50.............-1,16%...........15,53M Next............................................8.250,0............... -40,0.............-0,48%........... 36,02K Ocado.......................................... 523,40................ -2,00.............-0,38%.......... 868,55K Pearson....................................... 943,60................+4,40............ +0,47%......... 280,75K Pershing Square.......................... 49,30.................+0,45............ +0,92%.......... 21,93K Persimmon.................................1.391,3...............+14,3............ +1,04%......... 694,69K Phoenix....................................... 492,00................ -1,40.............-0,28%.......... 548,46K Prudential.................................... 808,60................ -9,60.............-1,17%.......... 653,62K Reckitt Benckiser........................5.754,0............... -12,0.............-0,21%.......... 233,43K Relx............................................3.347,00.............+46,00........... +1,39%...........2,65M Rentokil....................................... 397,70................ -3,50.............-0,87%............4,87M Rightmove.................................. 545,20................ -6,20.............-1,12%............1,18M Rio Tinto PLC..............................5.366,0................+4,0............. +0,07%......... 586,89K Rolls-Royce Holdings................. 319,30................+1,60............ +0,50%...........3,67M RS PLC....................................... 786,20................+9,20............ +1,18%......... 235,02K Sage...........................................1.195,00.............+22,50........... +1,92%...........1,24M Schroders.................................... 400,7..................+0,6............. +0,15%...........3,02M Scottish Mortgage....................... 790,88................+1,88............ +0,24%......... 581,44K Segro.......................................... 841,60................ -5,00.............-0,59%............1,40M Severn Trent...............................2.471,0............... -26,0.............-1,04%........... 47,97K Shell............................................2.500,5...............+22,0............ +0,89%...........3,40M Smith & Nephew........................1.103,50..............+2,00............ +0,18%...........1,60M Smiths Group.............................1.615,00.............. -2,50.............-0,16%........... 37,34K Smurfit Kappa.............................3.166,0...............+36,0............ +1,15%......... 357,65K Spirax-Sarco Engineering..........10.160,0..............+65,0............ +0,64%........... 5,28K SSE............................................1.571,19.............. -4,31.............-0,27%............1,95M St. James’s Place........................ 638,20................ -1,40.............-0,22%.......... 553,08K Standard Chartered..................... 579,60................+0,20............ +0,04%...........1,03M Taylor Wimpey............................ 145,80................+0,55............ +0,38%...........1,05M Tesco.......................................... 281,30................+0,90............ +0,32%...........6,67M Unilever.......................................4.012,0............... -12,5.............-0,31%............1,03M Unite..........................................1.001,00.............. -4,00.............-0,40%........... 69,95K United Utilities............................1.019,00.............. -6,50.............-0,63%............1,10M Vodafone Group PLC.................. 63,267............... -0,243............-0,38%...........12,81M Weir Group................................1.801,00.............. -1,50.............-0,08%.......... 359,75K Whitbread...................................3.494,0...............+27,0............ +0,78%......... 289,29K WPP............................................ 786,00................+2,60............ +0,33%......... 234,37K
MAKE THE MOST OF YOUR MONEY WITH US See our advert on previous page 0.85453
1.17007
Units per € US dollar (USD)...................................1.0771 Japan yen (JPY)...................................160.98 Switzerland franc (CHF).......................0.9429 Denmark kroner (DKK)........................7.4528 Norway kroner (NOK)..........................11.405 currenciesdirect.com/mallorca • Tel: +34 687 906 226 THE ABOVE TABLE USES THE CURRENT INTERBANK EXCHANGE RATES, WHICH AREN’T REPRESENTATIVE OF THE RATE WE OFFER
DOW JONES
Closing Prices 12 February
Company
Price(p)
Change(p)
% Chg.
Net
3M............................................... 93,22................. -0,62.............-0,66%............3,91M American Express....................... 211,26................+2,18............ +1,04%...........3,59M Amgen........................................ 294,85................ -1,02.............-0,34%............5,33M Apple........................................... 188,32................ -1,09.............-0,58%...........37,90M Boeing......................................... 209,28................ -2,64.............-1,25%............5,62M Caterpillar.................................... 321,96................ -1,63.............-0,50%............1,83M Chevron...................................... 154,05................+1,92............ +1,26%...........7,65M Cisco............................................ 49,95.................+0,18............ +0,36%..........16,28M Coca-Cola..................................... 59,83................. -0,16.............-0,27%...........12,17M Dow............................................. 53,88................. -0,22.............-0,40%............3,41M Goldman Sachs........................... 385,15................ -1,51.............-0,39%............1,76M Home Depot................................ 363,84................+1,15............ +0,32%...........2,24M Honeywell................................... 193,46................ -0,64.............-0,33%............2,45M IBM............................................. 184,39................+2,31............ +1,27%...........3,98M Intel.............................................. 42,50................. -0,28.............-0,65%...........30,44M J&J............................................. 156,43................ -1,55.............-0,98%............7,64M JPMorgan................................... 174,82................ -0,61.............-0,35%............5,39M McDonald’s................................. 291,94................+4,61............ +1,60%...........4,37M Merck&Co................................... 126,61................ -0,86.............-0,67%............4,19M Microsoft.................................... 414,11................+0,06............ +0,01%..........16,90M Nike............................................. 103,76................ -0,03.............-0,03%............6,17M Procter&Gamble......................... 158,65................ -0,47.............-0,30%............4,07M Salesforce Inc............................. 291,98................+3,14............ +1,09%...........3,50M The Travelers.............................. 213,86................ -0,36.............-0,17%............1,35M UnitedHealth............................... 520,01................+0,62............ +0,12%...........3,26M Verizon......................................... 39,91................. -0,51.............-1,27%...........19,14M Visa A.......................................... 275,80................ -3,07.............-1,10%............5,65M Walgreens Boots.......................... 22,54................. -0,27.............-1,18%............7,79M Walmart...................................... 169,37................ -0,01.............-0,01%............4,52M M - Million Dollars
NASDAQ
Closing Prices 12 February
Company
Change Net / %
Volume
Most Advanced Arm Holdings plc.............................................+47.89%.......................105.432M Confluent, Inc...................................................+34.09%........................24.356M Oscar Health, Inc..............................................+24.38%........................12.644M Marathon Digital Holdings, Inc.........................+23.03%.......................106.187M Adyen N.V........................................................+20.55%.........................1.891M SoftBank Group Corp.......................................+19.49%......................... 15,562 SoftBank Group Corp.......................................+18.17%.........................2.237M Viking Therapeutics, Inc...................................+18.01%.........................8.489M Ralph Lauren Corporation................................+16.79%.........................4.342M Höegh Autoliners ASA......................................+16.70%........................ 169,822 M - Million Dollars
Most Declined Lightspeed Commerce Inc............................... -24.37%.........................9.038M Lumentum Holdings Inc................................... -22.43%........................10.877M A.P. Møller - Mærsk A/S.................................. -15.02%.........................1.397M Insperity, Inc.................................................... -14.78%.........................1.426M Bombardier Inc................................................ -14.39%......................... 53,925 Neste Oyj.......................................................... -12.06%......................... 44,408 NEXON Co., Ltd................................................ -11.73%......................... 22,118 Fairfax Financial Holdings Limited.................... -11.62%......................... 68,322 PayPal Holdings, Inc........................................ -11.24%........................67.901M Snap-on Incorporated....................................... -9.67%......................... 774,777 FLEETCOR Technologies, Inc............................ -9.20%..........................1.436M M - Million Dollars
FINANCE II euroweeklynews.com Saudi plum
LOCKHEED MARTIN selected Spain’s Indra company to equip four ships with ultramodern electronic defence systems for the Saudi Arabian navy but did not reveal details of the sums involved. The ships, which are 118 metres long and capable of 5,000 nautical miles (9,260 kilometres) without refuelling, will operate along the coast and at sea.
Go it alone
ZUBER ISSA is negotiating the sale of his 22.5 per cent holding in the ASDA supermarket chain as he splits from older brother, Mohsin. Issa reportedly wishes to focus on the brothers’ EG Group petrol stations, although selling his stake could be complicated by existing agreements with Mohsin and Asda’s other shareholder TDR Capital.
Mone email leaks Linda Hall
MICHELLE MONE assured the UK government in May 2020 that she would make “no financial benefit whatsoever” from personal protective equipment (PPE) company Medpro. Nor was she a shareholder in the consortium led by her husband Doug Barrowman, she stressed. In emails between Mone and the Cabinet Office leaked by the Guardian on February 7, she explained
Photo credit: X-Lady Michelle Mone
BUSINESS EXTRA
15 - 21 February 2024
MEDPRO LEAKS: Michelle Mone and husband Doug Barrowman
Oil from the US THE US now provides most of Spain’s oil, obtained via fracking. Despite its environmental drawbacks, the controversial process is bearing fruit in the US which exported more than 8.7 million tons of oil to Spain in 2023. That was 31.2 per cent more than in 2022, according to recent figures from the Petroleum Products Strategic Reserves Corporation (Co-
res). This has put the US ahead of Nigeria, which after five years as Spain’s principal supplier has now dropped in fourth place after Mexico and Brazil. Spain currently imports lesser amounts from at least 22 other countries worldwide, excluding Russia, with total imports falling by 3.3 per cent in 2023 to just under 61.56 million tons.
that her second husband was “a very philanthropic individual who wished to help the NHS.” For this reason, she continued, the Isle of Man-based financial services businessman was negotiating to lower the prices the government paid for PPE during the pandemic. Weeks later, in June 2020, the government awarded Medpro two contracts to supply PPE worth £203 million (€238 million). By September 2020 Barrowman had earned approximately £65 million (€76.2 million) from these contracts, according to HSBC bank documents seen by the Guardian. Of this, £29 million (€34 million) of Medpro profits was allegedly transferred to an offshore trust set up to benefit Mone and her children. The National Crime Agency (NCA) is currently investigating both Barrowman and Mone for potential fraud.
EWN 15
So close THE official receiver in charge of the Marie Claire bankruptcy told the company works committee that a buyer had been found and the stockings and underwear firm founded in 1907 would reopen. A contract due to be signed ‘within days’ would provide jobs for 72 currently furloughed employees and up to 150 more, he announced on February 7.
AI plans IN a £1 billion (€1.17 billion) cost-cutting programme over the next three years, Sainsbury’s will use more automated tills and warehouse robots plus AI forecasting tools to make sure supermarkets are adequately stocked. Chief executive Simon Roberts admitted there could be job losses but said employees would be able to change their roles and adapt to new methods.
Impossible to resist LEAPY LEE SAYS IT OTHERS THINK IT CAN’T quite believe I’m doing Trump again this week, but the man is such wonderful column fodder I find him almost impossible to resist. Once more, before the election, his indisputable rivals are endeavouring to make sure he will be required to attend court in his defence of even more allegations. Once again Trump will use the accusations to get his presidential intentions publicised on front pages just about everywhere. To be quite honest it makes me feel I should probably have run for some governmental position when my ‘trumped up’ clash with the law resulted in a term behind bars. Don’t laugh; ex-president Imran Khan, leader of the Pakistan party PTI, has just begun a sentence of 14 years plus and proffered most of his party’s election campaign from prison. He is now been released on bail, after his party claimed a 90 per cent
victory! What a state our world truly is in. All my life I have mistrusted the way it was run and have actually never voted for anyone. Personally, I consider almost every one of our esteemed leaders and general politicians are merely in it for their own ends. Power and financial gain ultimately leads the field, and frankly I don’t trust any of ‘em. Even lawyers, who appear to be totally on your side and send oppositional letters to ‘rival’ legal beagles, are often seen out socialising or lunching with their so-called adversaries as they work out how much they can each screw out of their respective clients. It’s all a gigantic scam. I also agree with Trump that, if the situation calls for it, most countries are very capable and do most certainly engage in assassinations, including the UK. To my mind there is no doubt that Stephen Ward, who featured in the Christine Keeler/ Mandy Rice scandal of the 60s was topped, before he could blow the whistle on one or two characters (highly rumoured to be
royalty) being participants in the sex orgies involved. I am also convinced that the tragic Dr Kelly was murdered on orders from the government prior to revealing the lies and false information concerned in the weapons of destruction issues that ultimately led us into the war on Iraq. James Bond and his licence to kill appointment are actually not far from the truth. I think the assassins of the CIA and British secret service are far more lethal and mercenary than the flamboyant 007 ever was. Good luck to ‘pay your way’ Trump. Much rather the devil you know! Thanks for all the mail. One welcome reader commented that the only way to prevent bullying is to bully back harder. Unfortunately, in this primitive day and age, it is actually the only sure way. It’s a big nasty world out there, and we just may need big and nasty people to make certain we survive. Take this ol’ boy’s word for it, doddery Senor Biden, coupled with his woke fraternising vice president, aint even close. Keep the faith, Love Leapy. leapylee2002@gmail.com
Leapy Lee’s opinions are his own and are not necessarily representative of those of the publishers, advertisers or sponsors.
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Google ban DANISH privacy regulator Datailsynet has ruled that local authorities in Denmark need stronger privacy assurances to continue to use Google services in their schools. This decision stems from the fact that Google’s use of student data from Chromebooks and Google Workplace for Education was deemed a violation of European privacy laws as the data is used for ‘Google’s purposes.’ Local governments must detail their compliance plans by March 1, facing a complete halt to data transfer to Google by August 1. This could lead to the phased-out removal of Chromebooks from Danish schools unless laws change or Google implements data-filtering mechanisms. A key concern is Google’s use of student data for performance analytics and feature
Image: Shutterstock/ Masson
• Feature/News •
16 15 - 21 February 2024
Privacy concerns with Google services.
development, even without targeted advertising. Regulators argue that this poses privacy risks, especially with the growing integration of AI features in Google Workspace and Chromebooks. Datatilsynet has criticised local government for insufficiently assessing the risks before approving Google Workplace for Education. This ruling follows a 2022 directive that required 53 towns to reevaluate data-sharing practices. This decision highlights the increasing emphasis on protecting student data in the evolving landscape of digital education.
What is a Direct Cremation ADVERTISING FEATURE IN Spain funerals tend to take place very soon after a person’s passing. This can restrict the opportunity for friends and family to attend especially if they live in another country. In some cases we have seen people pay upwards of €4,000 for a funeral ceremony however due to the time constraints very few people were able to attend. We have heard feedback from many people who feel they have spent all of this money and their loved ones have not been able to celebrate their life as they hadwished. A direct cremation will allow a dignified send off and not tie our loved ones down to a time and place to celebrate our life. A direct cremation is a type of cremation service where the deceased is cremated shortly after death, without a traditional funeral service or viewing. This means that there is no embalming, wake, or funeral ceremony. In a direct cremation, the body is typically cremated in a simple container or casket, without any additional adornments or decorations.
The cremated remains are then returned to the family or scattered in a location of their choice. We also ensure all legal documentation is returned to a nominated person. Direct cremation is becoming an increasingly popular option for those who want a simple, no-frills end-of-life service. It is often chosen because it is more affordable than traditional funeral services, and can provide a straightforward and dignified way to handle the deceased’s final arrangements. Some families choose to hold a memorial service or celebration of life after the cremation, where family and friends can come together to honour and remember their loved one in a more personalised way. This allows for more flexibility and creativity in how the deceased’s life is celebrated, without the added pressure and expense of a traditional funeral service. Overall, direct cremation provides a simple and cost-effective way to handle end-of-life arrangements, while still honouring and respecting the memory of the deceased.
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• Feature •
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• News Across The Regions • Costa del Sol Human chain
Costa Blanca South Love in Catral
MORE than 900 pupils from the schools of Alhaurin el Grande joined the Human Chain organised by cancer charity ‘Un Sí Por La Vida’ (A Yes for Life) to mark World Cancer Day. This year’s event attracted a total of 910 pupils in the walk along the route that departed from the town’s Health Centre and ended at the Las Palomas ravine. For its part, the president of the Association Un Sí Por La Vida, Loli Badía, has highlighted the commitment of the entire social fabric of Alhaurin that has been involved, one more year, with this solidarity initiative and promotion of healthy habits in the fight against cancer.
CATRAL could soon become a beloved destination for Valentine’s Day visits, thanks to the creativity of one of its residents, Moises Cruz Ballesta. The artist has adorned a wall on Calle La Cruz with large red hearts. This spot has quickly become a popular ‘photo spot’ and may even start a new tradition, as Catral is a municipality where residents take great pride in beautifying their streets. The idea for this eye-catching mural was inspired by the nearby Tree of Love, just a few metres away from Calle La Cruz. The tree is decorated with an array of hearts in different shapes and sizes, each carrying messages of love and affection.
Axarquia Rural ATMs
Almeria Night of lights
IN a bid to address depopulation in the rural areas of Axarquia and the Province of Malaga in general, the Provincial Government has launched a plan to provide new banking services to small inland towns, where population decline is concentrated. While Malaga is among the top four provinces with the highest population growth in Spain, the interior still faces challenges in reversing depopulation across 22 towns. This programme, providing 27 new ATMs, stems from a framework agreement between the Provincial Government and Unicaja Banco. Nearly 45,000 citizens are expected to benefit from improved access to basic financial services, such as cash withdrawals and bill payments.
IN a tradition that goes back 285 years, the Parish Church of Huercal-Overa celebrated the anniversary on February 8 of the transfer of the Eucharist to its current location. In 1739, the new Parish Church in the centre of the town was consecrated and the Holy Sacrament was transferred from its original site to the new church. The current celebration started with a Mass followed by parading the Eucharist from the old chapel to its current home. The villagers carried candles and as the procession passed, lights were lit along the streets, recalling what as in the past there was no electricity and for this reason lights had to be lit along the streets.
Costa Blanca North Heroic homecoming
Costa Calida Jackpot joy
FINALLY reaching his hometown town of Moraira on the Costa Blanca after 13 days on the road, long-distance charity walker Lee Harker received a hero’s welcome on Saturday February 10. A large crowd gathered to cheer him as he wearily completed the last 100 metres of a phenomenal journey. Averaging 48,000 steps per day, Lee tramped around 500 kilometres from Barcelona to Moraira, raising almost €16,000 for local dog’s charity, Akira, a cause that is dear to his heart. “This is what kept me going when I was on the road”, said an emotional Lee, surrounded by friends, family and well-wishers, “picturing this moment”. Lee and his family are energetic helpers for Akira, fostering and walking dogs as well as raising awareness and funds.
FORTUNE continues to smile upon the residents of the Region of Murcia as a lucky individual strikes gold in La Primitiva lottery. Following the Christmas Lotto windfall and a record-breaking Bonoloto win in Lorca, the latest stroke of luck falls on the capital of the region. In the draw on February 8 of La Primitiva, a Murcia resident emerged as the sole winner of the first-tier prize, bagging a life-changing sum of €1.2 million. The fortunate ticket owner, who purchased the ticket at the Calle Cánovas del Castillo administration in Murcia, is set to receive €1,237,489 for matching all six numbers.
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euroweeklynews.com • 15 - 21 February 2024
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DUQUE: On the right with his new friend.
The fight for justice was challenging. Initially, the court’s decision was disheartening. ARCH reported that ‘some members of the judiciary. . . appear not to care about animals or take into account the new legislation designed to protect them’. Despite the owner being prohibited from owning animals, ARCH was not compensated for the substantial rescue and rehabilitation expenses.
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Landmark victory THE Andalucian Rescue Centre for Horses (ARCH) recently celebrated a significant legal victory, shining a beacon of hope for animal welfare advocates. In March 2021, ARCH took part in the rescue of an elderly black pony following extensive media coverage. The animal was confiscated by the Guardia Civil and entrusted to ARCH’s care. Suffering from severe neglect and confined to a cramped space, the pony’s condition was dire with extremely overgrown hooves, a dirty and matted coat and poor dental health. He hadn’t even been given a name. Thanks to the efforts of his rescuers he was taken in and named Duque (Duke).
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However, ARCH’s legal representative, Aritz Toribio, pursued an appeal. The Provincial Court’s recent ruling in favour of ARCH required the former owner to cover the costs. This outcome not only helps ARCH financially but sets a significant legal precedent. Duque’s story does have a happy ending. After his recovery at ARCH, he found a new home where he is loved and cared for.
Two better than one ADOPTING two kittens instead of one is a decision filled with benefits, enriching the lives of both the animals and their human companions. Kittens learn social cues and limits through play, something they can do best with a peer. This interaction aids in their behavioural development, reducing issues like aggression and anxiety. For pet owners, two kittens provide mutual entertainment, lessening the need for constant human interaction and making it easier to manage their energy levels. Additionally, the emotional bond formed between the kittens offers a unique joy to observe, enhancing the pet ownership experience. Caring for two kittens
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24 15 - 21 February 2024
John Smith IN almost every case, the only claim to fame that most football WAGs have is that they are partnered with a successful sportsman. We have had the fiasco that was handbags at dawn (or more realistically cheque books at noon) with the Wagatha Christie court case between Rebekah Vardy and Coleen Rooney, but the latest is even more bizarre. Isabelle Silva, wife of Brazilian footballer Thiago Silva who has played for Chelsea since 2020 has a habit of making comments which might be considered somewhat insulting to her husband’s team managers. Last year, just before then manager, Graham Potter was sacked, she ‘liked’ a tweet about Potter which accused him of being a “deadbeat” manager who “doesn’t know what he is doing.” Following two somewhat embarrassing defeats for Chelsea, 1-4 against Liverpool on January 31 and then 2-4
against Wolverhampton Wanderers on February 4, she took to X (formerly Twitter) to say “It’s time to change. If you wait any longer it will be too late.” This wasn’t a suggestion that her husband should look elsewhere but the inference was that current manager Mauricio Pochettino was to blame for the club’s current run of losses. Perhaps because of a chat that her husband had with Pochettino, she decided on February 7 to make partial amends with a another post on X which said “I’m sorry that my personal outburst as a passionate Chelsea fan has caused such an impact. “I’m passionate about the team, I thrive on victories and I’m saddened by defeats.” Time will tell whether Pochettino will collect his severance cheque from Chelsea as he has after being sacked by Espanyol, Tottenham Hotspur and Paris St Germain in the past or whether he will continue and see Silva who is now 39 quietly retire.
Viva Las Vegas AMERICAN football has only one league (the NFL), with 32 teams who play from September to January, followed by Super Bowl in February and that’s it. A short season makes each game far more important. And no game is more important than the final game of the season - Super Bowl which
in the 2023/2024 season saw the Kansas City Chiefs face-off against the San Francisco 49ers in a thrilling match in Las Vegas that saw the Chiefs win in extra time. One of the great stories of this season was the 49ers quarterback, Brock Purdy, who was picked Credit: Flickr CC / All-Pro Reels
WAG dogs Chelsea
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Kansas City Chiefs.
Cycling super league? Wikimedia CC / Glenn Francis
WHY did Superbowl have millions more viewers this year? It’s nothing to do with American football (or just ‘football’ as they call it in the USA!) and everything to do with singer and popular icon, Taylor Swift. It’s not that the event was short of viewers; it is estimated that over 100 million tuned in globally to watch last year’s Superbowl, although that should be compared to the 1.5 billion who watched the FIFA World Cup final around the world. However, it’s worth remembering that football (or soccer – and yes, I know!) is played in 230 countries while the American version is very much a domestic phenomenon. So, back to Taylor Swift: Superbowl 2024 featured the San Francisco 49ers against reigning champions the Kansas City Chiefs and, Travis Kelce, one of the Chiefs’ star players is currently dating the singer. She has been a regular at Chiefs’ games and it has been reported that she has boosted the value of the team by around $100 million and has been responsible for a 400 per cent increase in sales of boyfriend Kelce’s jersey.
Flickr CC / All-Pro Reels and
Super Swifties
Travis Kelce and Taylor Swift.
For the first time this year, USA streaming channel Peacock live streamed the play-off match featuring the Chiefs against the Miami Dolphins. Sports fans paid $5.99 a month to sign up for the service but the numbers were inflated by fans of the singer (or ‘Swifties’ as they are known). According to Nielsen, the match reached 27.6 million total viewers, making it the most streamed live event in USA history. It was not known if Taylor would
last in the 2022 draft; 262 players were picked before him! Imagine being at school with hundreds of other pupils and when it comes to being picked for a team game, you’re left standing on the sports field on your own at the end of the selection process. That was Brock Purdy and he was labelled ‘Mr Irrelevant’ as a result. Injuries forced out San Francisco’s two starting quarterbacks but then, with Purdy on the field the 49ers started winning. This was Purdy’s first full season as a starter and he helped advance his team all the way to the final match in Las Vegas, becoming the first ‘Mr Irrelevant’ quarterback to ever start in a Super Bowl. But in the end the 49ers were denied victory by the Chiefs and their own star quarterback Patrick Mahomes. The team becomes the first to win back-to-back Super Bowl trophies in 20 years and they are now focused on becoming the first team to ever win the NFL’s biggest prize three times in a row.
even make it to the match; she was performing in Tokyo the night before the big match. But, with Japan 17 hours ahead of Superbowl’s venue in Las Vegas, she did in fact turn up. So, many Swifties around the globe tuned in at midnight (CET) on Sunday February 11, not to see who won this spectacle of a sporting event, but just to catch a five-second glimpse of the singer cheering on ‘her’ team. In the end, the Kansas City Chiefs won 25 - 22 against the San Francisco 49ers on the night.
IS professional cycling on the brink of a revolution? Talk of a cycling super league, led by its elite teams and backed with Saudi money, could radically transform the sport. The proposed One Cycling ‘super league’ aims to inject fresh sources of money into the sport, with its promotors targeting a 2026 launch to coincide with the next WorldTour cycle. The new initiative is being championed by Visma-Lease a Bike’s Richard Plugge and Soudal QuickStep’s Zdenek Bakala and is tipped to include Formula 1-inspired events Eight teams are currently engaged in discussions, including notable names like Ineos Grenadiers, LidlTrek and Movistar, though specific identities remain under wraps. Saudi Arabia’s Public Investment Fund (PIF) is reportedly the leading candidate to support this ambitious project. SRJ Sports Investments, a firm established in August 2023, is purportedly finalising negotiations for a substantial investment of $270 million (€250m, £214m). This move aligns with Saudi Arabia’s Vision 2030, which aims to amplify the kingdom’s global influence through strategic sports investments as it has done with golf, football and Formula 1. ‘It’s obvious that cycling is a sleeping giant and deserves an improved business model. For all stakeholders, but especially for WorldTour teams,’ said Plugge, highlighting the necessity of a revamped business model for cycling whose main source of income is from its sponsors.