Spain to cover 20bn euros in potential bank losses

 The Bank of Spain has promised to cover up to 20 billion euros ($27 billion) in losses at Caja Mediterraneo as it seeks to offload the troubled savings bank, a newspaper said Monday. The Bank of Spain took control of the bank in July and is now trying to sell it off. According to the daily El Mundo, the central bank let investors know it would cover up to 20 billion euros of losses, the estimated amount of property-related assets at risk in...

Read More

UBS raises rogue equity trade losses to $2.3 billion

 Swiss bank UBS on Sunday increased the amount it said it had lost on rogue equity trades to $2.3 billion and alleged a trader concealed his risky deals by creating fictitious hedging positions in internal systems. UBS stunned markets on Thursday when it announced unauthorised trades had lost it some $2 billion. London trader Kweku Adoboli was charged on Friday with...

Read More

Handling of Saudi prince's Spain court case challenged

 Lawyers for a woman who alleges she was sexually assaulted by Prince Alwaleed bin Talal of Saudi Arabia say the case has not been properly handled by Spain's criminal justice system. The woman, known only as "Soraya", says she was assaulted on a yacht moored off the island of Ibiza in 2008. A spokeswoman for the prince denied the allegation and said he had not been...

Read More

Spain raises taxes on the rich

 Spain today became the latest European country to hike taxes on the wealthy, with a new asset-based tax targeting the country's richest people. Spain's socialist government hopes that the new wealth tax will raise up to €1bn in a country where growth is grinding to a halt and this year's 6% deficit target looks increasingly tough to meet. The move represents a U-turn...

Read More

THE seventh edition of the Marbella Classic poker series was won last weekend by a visitor from the beautiful Emerald Isle, Mr Thomas O’Shea.

 THE seventh edition of the Marbella Classic poker series was won last weekend by a visitor from the beautiful Emerald Isle, Mr Thomas O’Shea. A highly delighted Thomas picked up a very handy €11,500 for his troubles after beating some of the local poker pros into submission, including last year’s series winner Julian Galan, Miguel Cortijo, Marco Palazon and the very charismatic Pedro ‘El grande’, Spain’s answer to super Mario. Congratulations...

Read More

Des O'Connor is in Marbella topping up his tan.

Des O'Connor is in Marbella topping up his tan. He’s only been here two days, but already he’s an improbable shade of mahogany. ‘Look at this,’ he says, flashing a generous glimpse of sun-burnished chest.‘I only have to look at a travel brochure and I go brown. My neighbours see me and say: “Here he comes, the Singing Tan”.’ 'My wife has mentioned having another...

Read More

APPLE MEGASTORE IN MARBELLA

Tourists come to know Marbella as one of the most sought after holiday destinations not only in Spain but throughout the European continent; now Apple choose the charming mediterranean town with the highest Millionaires concentration to host its most ambitious project in the Iberian Peninsula.A series of rumors speak of the future opening of an Apple store...

Read More

Polo Experience at Tres Rosas Polo

 Tres Rosas Polo offered the chance to try some horse riding as well as the opportunity to play a very popular sport called Polo. Polo is a team sport played on horseback and the players score by driving a small white plastic or wooden ball into the opposing team's goal using a long-handled mallet. The traditional sport of polo is played at speed on a large grass field up to 300 yards in length, and each polo team consists of four riders and...

Read More

Super Heavy: Mick Jagger's motley crew

 What can the Rolling Stones, Eurythmics and the blockbuster Slumdog Millionaire possibly have in common? More than you think -- at least that's the bet behind Super Heavy, a five-strong supergroup fronted by Mick Jagger whose new album comes out Monday. Five stars from the worlds of rock, soul, pop, reggae and world music -- Jagger, Eurythmics' Dave Stewart, soulwoman...

Read More

Saudi Arabia: Pretty Maids From Morocco Seen as Threat

 Back in early September, the recruitment committee of the Council of Saudi Chambers of Commerce and Industry announced that recruitment companies would be established and will be licensed to bring in housemaids from Morocco, East Asia and South Africa. The move has caused outrage in unusual places. The reason for this recruitment move, according to a Saudi chamber official,...

Read More

Theophilus London: Fashion's New Beat Boy

 Cole Haan Each season, the fashion industry hand picks their own musical muse — usually a star on the rise who ends up performing at every single industry soiree from New York to Paris and whose hit single is played at a number of the big ticket runway shows. This past February it was all about Adele and before that, Florence Welch. This time it's rapper/singer Theophilus London, and although he's still one of hip-hop's under-the-radar talents,...

Read More

Vogue group opens London fashion school

 Having long passed judgement on the catwalk via the pages of Vogue, a leading magazine publisher is setting up its own fashion school in London. The Condé Nast College of Fashion and Design will open in September 2012, taking up to 300 students in its first year. With courses branded around its stable of monthlies and weeklies, its principal will be Susie Forbes, editor of Easy Living and former deputy editor of British Vogue. Last year, Condé...

Read More

He's in fashion: Robbie was at House of Fraser to launch his menswear label and its first collection

Fresh off a sell-out Take That tour, Robbie decided to turn his hand to fashion, launching his menswear label Farrell and its debut autumn/winter collection at House Of Fraser. The fashion label is named after the singer’s grandfather, Jack Farrell, and has a preppy, mod type feel, consisting of cardigans, smart dinner jackets and long winter coats. The Angels singer...

Read More

At least two die in fire on Norwegian cruise ship

 Two crew members have died in a fire on a cruise ship off the coast of Norway. At least a dozen people were injured, two seriously, as the blaze forced rescuers to evacuate more than 200 passengers from the ship, the Nordlys. The ship was sailing close to the port of Aalesund in western Norway when a fire broke out in the engine room. Police believe there was an explosion, but do not know what caused the blast. Some people were taken hospital...

Read More

Spain Revives Rape Case Against Saudi Prince

A Spanish judge has reopened an abandoned sexual assault case against a Saudi prince who is one of the world’s richest men, reviving accusations that he raped a 20-year-old model on a luxury yacht in the Spanish Mediterranean in August 2008.Fahad Shadeed/ReutersPrince Alwaleed bin Talal bin Abdulaziz al-Saud in Riyadh.The prince, Alwaleed bin Talal bin Abdulaziz al-Saud,...

Read More

Cheryl Cole | Cheryl Cole Flies To Afghanistan To Boost Troops' Morale

 British singer Cheryl Cole has flown to Afghanistan to visit U.K. troops serving in the war-torn country. The Girls Aloud star made her way to the country's Helmand Province on Tuesday night (13Sep11) to surprise servicemen and women. Cole underwent special training to prepare for the hostile environment she will tour during her visit, which marks 10 years of British operations in the country. Her morale-boosting trip is being filmed as part...

Read More

Swingeing London by Richard Hamilton, showing Rolling Stone Mick Jagger in the back of a police car: a great modern history painting.

Swingeing London by Richard Hamilton, showing Rolling Stone Mick Jagger in the back of a police car: a great modern history painting. Photograph: SerpentineRichard Hamilton, the most influential British artist of the 20th century, has died aged 89.In his long, productive life he created the most important and enduring works of any British modern painter.This may sound a surprising...

Read More

Chris Stewart has been voted the most influential expat of the past 200 years in Andalucia

Chris Stewart has been voted the most influential expat of the past 200 years in Andalucia Photo: Andrew Crowley Individuals included on The Olive Press's “Expat 100” list ranged from little-known historical figures such as Amelia Loring, the grandaughter of a former British consul who founded Málaga's botanic gardens in the 1850s, to modern-day...

Read More

Europe's biggest shopping centre opens in London

 Europe's biggest urban shopping centre opened on Tuesday in a deprived area of east London where it will act as the gateway to the 2012 Olympics. Westfield Stratford City, which has risen from derelict wasteland in one of the poorest areas in Britain, houses more than 300 shops, 70 restaurants, a 14-screen cinema, three hotels and Britain's largest casino. Hundreds of people queued outside the £1.45 billion mall before the doors even opened...

Read More

Investigation launched as forest fire destroys four homes on Costa del Sol

investigation is under way into a forest fire which destroyed four homes and 400 hectares of land on the Costa del Sol. The blaze – which affected parts of Mijas, Marbella and Ojen – saw more than 300 people evacuated from their homes after starting at around 8.30pm on Sunday evening in the Entrerrios area of Mijas. Andalucia’s Councillor for the Environment Jose Juan Diaz...

Read More