Empty commercial premises in Vélez-Málaga

According to a report by the Association of Traders and Businesses in Vélez-Málaga (ACEV), twenty-five percent of the commercial premises in the central streets of the town are currently closed as a result of the financial crisis.

Cataluña could be next for a rescue

Valencia was the first autonomous region to formally request a bailout from the Central Government, Murcia is likely to follow suit and now Cataluña appears to be on the verge of asking for financial aid from the government.

Fashion designer Elio Berhanyer calls it a day

The fashion designer Elio Berhanyer, from Córdoba, has called it a day after more than 50 years in the trade, the financial crisis and a difficulty adapting to the new Spanish fashion trends being widely cited as the reasons for the closure of his business.

Adapting to the recession

Even the oldest profession has not escaped the ravages of the global financial crisis. Germany is one of the countries where prostitution is legal and the industry produces an annual revenue of over €12 billion. Around 400,000 people are employed in the industry.

Financial markets on the up

The financial markets throughout the world have reacted favourably to the various rescue packages currently being put in place to deal with the worldwide financial crisis. Share prices in Asia rose by 13% and Sydney by 5%, following on from an 11% rise on Wall Street on Monday. European governments are putting up €1.7 trillion to protect the continent’s banks …

PM raises guarantee limit to €100,000

The Spanish government has announced proposals to guarantee bank savings up to a €100,000 limit, a figure which is double the amount agreed by the 27 EU member states. Prime Minister José Luis Rodríguez Zapatero also announced the setting up of a €30 billion fund, extendable to €50 billion, to support the financial system in Spain. Ireland, Poland, Germany and …