Economy - Page 11
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Spanish Farmer with 290 Hectares Warns: 'We Risk More to Earn Less'
After three decades managing his family's 290-hectare farm in Bobadilla del Campo, Luis Velasco Alonso says rising costs and stagnant crop prices are pushing profitability to the brink. He urges less red tape, stronger support for Spanish produce, and collective action among farmers.
How Rocío Turns €950 Rentals Into €1,600 Room-by-Room Income
Rocío Baselga manages dozens of rooms in Bilbao, transforming standard rentals into profitable shared flats. She invests around €3,000 per property and aims to recover it within seven months, but the model depends on careful contracts and constant management.
Aena Rejects Second Madrid Airport, Focuses on Barajas Expansion
Aena has ruled out converting Casarrubios del Monte into Madrid’s second commercial airport, citing airspace and operational issues. Instead, the airport operator will invest over €4 billion to expand Barajas, aiming for a capacity of 90 million passengers a year.
Barcelona’s Metropolitan Area Grows More Diverse but Inequality Deepens
Barcelona’s metropolitan region is seeing rising prosperity and diversity, but territorial and social inequalities remain entrenched. New data reveal widening gaps in income, housing, and child poverty across the area.
Trump Plans to Declare Strait of Hormuz as US Territory After Iran Conflict
Donald Trump announced plans to claim the Strait of Hormuz for the US after military action against Iran. The move comes amid rising oil prices and a strict blockade on Iranian ports.
Domestic Tourism in Catalonia Drops to Post-Pandemic Levels
Catalonia faces a sharp fall in domestic tourism, returning to figures seen after the pandemic. Meanwhile, international arrivals, especially in Barcelona, are rising fast. The shift is reshaping the region’s tourism economy.
Salvador Caetano Doubles Profit in Spain After Major Restructuring
Salvador Caetano’s Spanish division has posted a 130% profit jump for 2025, fueled by a sweeping corporate reorganization and key dealership acquisitions. The group’s focus on new car sales and market consolidation is reshaping its position in Spain.
Spain Faces €13.5 Billion Road Repair Bill as Fast Polish Patching Machine Draws Attention
A Polish-made machine can repair potholes in minutes, offering a quick fix for surface damage. However, Spain’s road network needs €13.5 billion for full restoration, as rapid patching cannot address underlying structural issues. Authorities weigh new technology against the scale of the problem.
Valencia Drug Network Laundered Millions Through Real Estate and Crypto
A major criminal group in Valencia used luxury property, fake divorces and cryptocurrency to launder drug profits. Police linked 11 suspects to seven companies after seizing 4.5 tonnes of cocaine.
Toyota Faces Profit Drop in Spain Despite Record Sales
Toyota España posted record sales and revenue in its latest fiscal year, but a sharp rise in taxes led to an 8.4% drop in profit. The company remains committed to hybrid and electric models as it navigates a changing market.
Colombia Declares Economic Emergency After Devastating Earthquake
Colombia’s president has declared an economic emergency after a 7.4-magnitude earthquake. The move allows rapid financial and legal measures. Over 25,000 families are affected, with hundreds dead or missing.
Vietnam and Singapore Accelerate Digital ID Integration and Economic Ties
Vietnam and Singapore agreed to speed up linking their national digital ID systems. The countries also set new targets for industrial park expansion and closer economic cooperation. The move highlights growing regional partnerships.
Garden Homes With Barbecue From €45,000: The Hidden Costs Buyers Face
Thousands of listings for Spanish homes with gardens and barbecues start at €45,000, but the lowest-priced options often come with major drawbacks. From missing utilities to financing hurdles, buyers must look beyond the headline price to avoid costly surprises.
National Court Upholds €15,000 Fine for Journalist Over Insider Trading
Spain’s National Court has confirmed a €15,000 fine against an 'El Confidencial' journalist for insider trading. The case marks the first time a Spanish reporter is sanctioned for market abuse. The journalist plans to appeal.
Barcelona Airport Hits New Passenger Record in July
Barcelona-El Prat Airport surpassed 5.8 million passengers in July. Growth outpaces the national average, with international routes leading. The airport is set to exceed its annual capacity limit again.
Spain Prepares for First Total Solar Eclipse in Over a Century
Millions in Spain are set to witness a total solar eclipse, the first in 121 years. Authorities brace for record travel, safety risks, and economic impact as the phenomenon crosses the peninsula.
Ceuta Restaurant Owner Faces Sudden Collapse in Bookings Amid Crisis
Ángela Tendero, co-owner of Barlovento in Ceuta, saw her restaurant go from fully booked to empty within a single afternoon. The abrupt drop followed a surge of arrivals and the cancellation of the city’s Feria, leaving local businesses scrambling to cope with lost income and uncertainty.
Bolivian Bricklayer Reveals Stark Pay Gap Between Spain and Bolivia
A Bolivian construction worker living in Spain says his monthly pay is over three times higher than what he could earn in Bolivia. His story highlights the wage differences, the realities of the Spanish labor market, and why many skilled migrants are drawn to the sector.
Defence Clears Way for Chinese Electric Car Plant in Ferrol
Spain’s Defence Ministry will not block the SAIC Motor factory in Ferrol. The site’s proximity to a major naval base had raised security fears. The project promises 1,000 jobs and €200 million investment.
Over 2.6 Million in Spain Receive Ingreso Mínimo Vital Support
Spain's Ingreso Mínimo Vital now covers 879,225 households, supporting more than 2.6 million people. The average monthly payment stands at €504.5 per family. Nearly half of recipients are minors.
SAIC Motor’s Electric Car Plant in Galicia Sparks Security Debate
SAIC Motor plans to build its first European electric vehicle plant in Galicia, near critical military sites. The project promises jobs and investment, but its proximity to defense infrastructure has triggered concerns in Spain.
Social Security to Cut Pensions by 14% for Early Retirement After 38 Years of Contributions
Spain’s Social Security will apply a 14% pension cut to those with over 38 years of contributions who retire early. The measure affects both voluntary and involuntary early retirees. No changes to the rule are planned.
Morocco Emerges as a Serious Rival to Spain in the Auto Industry
Morocco is rapidly gaining ground as a manufacturing hub for electric vehicles and batteries, challenging Spain’s dominance. Lower wages, easier regulations and a strategic location are drawing major investments from China and Europe.
Government Backs Chinese Factory in Ferrol Despite Security Concerns
Madrid confirms support for a €200 million Chinese electric car plant in Ferrol. Defence and intelligence agencies warn of security risks near naval facilities. Regional and national leaders clash over the project's future.
Flexible retirement in Spain: new 25% pension bonus for part-time work
From August 2026, Spanish pensioners who take up flexible retirement and work 55–80% of a full schedule will receive a 25% pension supplement. The reform also opens the scheme to self-employed workers.
Maxwell Cremona Faces Questions Over €1.2 Million Dividend Entry
A €1.2 million dividend appears in Maxwell Cremona's 2025 report, but financial records do not support such a payout. The discrepancy raises doubts about the accuracy of the company's filings. The issue involves the firm linked to Isabel Díaz Ayuso.
Andalusia Declares New Mining Reserves Amid Political and Environmental Tensions
The Spanish government has designated four new mining reserves in Córdoba and Jaén. The move aims to boost Andalusia’s mining sector but faces strong opposition from environmental groups and local politicians.
Defence Concerns Over Chinese Car Plant Near Ferrol Naval Base
Plans for a major Chinese electric vehicle plant in Ferrol have triggered security concerns. The site is just five kilometres from Spain’s key naval base and Navantia shipyard. Authorities weigh economic gains against espionage risks.
Hydrogen Fuel Cell Car Sales Plunge Globally Amid Soaring Costs
Global sales of hydrogen fuel cell vehicles have dropped by nearly half, with Europe and China experiencing steep declines. Only South Korea, led by Hyundai, has managed to buck the trend, highlighting the technology’s uncertain future.
Chinese Car Brands Surge but Global Sales Crown Remains Elusive
Chinese automakers like BYD and Geely are rapidly gaining ground, setting new sales records and reshaping the European market. Yet, official data shows they still lag behind established global leaders in total vehicle sales.
Rising Rents Force Young Spaniards Like Ana Ramos Back Home
Ana Ramos, 25, kept her job but could no longer afford to live alone as rent and daily expenses soared. Her story highlights how even steady employment no longer guarantees independence for Spain’s youth. The struggle to move out is now a financial calculation, not a personal failure.
La Casa de las Carcasas Drives Growth With More Than Just Phone Cases
La Casa de las Carcasas has built a €300 million business by turning simple phone case purchases into multi-product sales. Its strategy relies on cross-selling accessories and a fast-growing network of over 1,100 stores across 13 countries.
Electricity Prices Drop Sharply in Spain on August 9
Spain’s electricity price falls by over 13% this Sunday, reaching its lowest point at midday. The most expensive hour will be in the evening. Consumers face a volatile market with significant hourly differences.
Spain to Tighten Controls on Large Cash Movements and Proof of Funds
The Spanish government plans to require individuals to prove the legal origin of large sums of cash if not declared. The measure reverses the burden of proof and introduces stricter penalties for violations.
Burj Al Babas: 587 Unfinished Castles and a $67 Million Fraud Trial
Hundreds of castle-like villas in Turkey’s Burj Al Babas remain abandoned after a failed luxury project. Authorities accuse 13 people of defrauding Gulf investors out of $67 million. The site stands as a symbol of broken promises and ongoing legal battles.
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