Car Hire Offers for June, 2013

Spanish police smash Nigerian voodoo prostitution ring

Monday, June 3rd, 2013

: Spanish police said Sunday they had broken up a ring that smuggled in women from Nigeria and forced them into street prostitution by burning them with irons and using voodoo rituals. Police arrested six Nigerian nationals, including the suspected woman ringleader, as part of an investigation launched last year after one of the prostitutes filed a complaint with the authorities. "The …

Source: http://www.bignewsnetwork.com/index.php/sid/214933479/scat/a5286f17ab326d15

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Sareb gets ready for Project Bull

Monday, June 3rd, 2013

Sareb gets ready for Project Bull

Hope for a Spanish recovery has rekindled with the plans to make the first sales of soured real estate assets in the country.

Spain’s Sareb was set up last year to take on billions of pounds worth of toxic real estate assets from its debt-laden banking sector in a bid to kick-start a recovery.

It was hoped the purchase of bad debts would free up the banks to draw a line under the crisis and move on with more optimism. The so-called ‘bad bank’ could be around for up to 15 years and it aims to take on enough toxic debt to make a profit in the long term.

Now the ‘bad bank’ Sareb is planning its first sale, which has become known as Project Bull, in order to test the attractiveness of the Spanish property market for investors.

According to Bloomberg, the organisation has hired business services firm KPMG to help with the potential auction of a section of homes and unfinished buildings in the south and east of Spain. Andalusia and Valencia are identified regions for the project.

“Success on the first sale would be a signal to other investors that there’s an opportunity here, but this is a big hurdle,” Lee Tyrrell-Hendry, a credit strategist at Royal Bank of Scotland Group Plc in London, told Bloomberg.

“Investors are looking for yield and Spain is one of the few areas you can get it, but that is because there are still huge risks and the economic outlook is still weak.”

Many experts believe that the low prices in Spain, teamed with interest from other countries and the new residency visa could make these auctions attractive to potential investors.

“They probably will find buyers because right now there’s a real push out there to find assets on the part of investors, but there’s risk that goes into this obviously,” Scott MacDonald, head of research at Stamford, Connecticut-based investment firm MC Asset Management Holdings LLC told the source.

The creation of the bad bank was organised as part of the bailout conditions Spain had to agree to. In order to receive funding from the European Financial Stability Facility, the country had to illustrate it was taking steps to push through financial reform.

Source: http://www.propertyshowrooms.com/spain/property/news/sareb-gets-ready-for-project-bull_312764.html

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Cadillac ELR First Production Model Complete

Monday, June 3rd, 2013

The first of the 2014 Cadillac ELR models have rolled off the production lines. These first few cars aren?t being made for the general public though. These are for the engineers to put through their paces and make any final improvements and updates before rolling them out to the dealerships. This is all scheduled to [...]

The post Cadillac ELR First Production Model Complete appeared first on Automotive Discovery – Auto Industry News and Rumors – Car News and Rumors.

Source: http://automotivediscovery.com/cadillac-elr-first-production-model-complete/9217285/

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Access to Spain improved for Brits

Monday, June 3rd, 2013

Access to Spain improved for Brits

More and more Britons could be heading to Spain on their holidays, thanks to improved transport links between the two countries. British Airways CityFlyer has announced that it will be more than doubling its service for winter 2013/14. This is after it debuted regular flights from London City Airport to Ibiza and Mallorca in 2012/13.

Sotheby’s International Realty has welcomed the move and Spanish property could be the subject of much activity among investors looking to capitalise on growing tourism numbers. Improving access to Spain for Londoners will also have positive implications for local economies, with holidaymakers providing a much needed boost to the country.

Daniel Chavarria Waschke, managing director of Balearics Sotheby’s International Realty, commented: "In winter 2011/12 British Airways did not operate one single flight direct from the UK to the Balearics, but for winter 2012/13 they made the brave decision to extend their twice weekly flights throughout the season.  

"The decision seems to have paid off as the flights have proved so popular that next winter, from 27 October, two flights a week will become five for Ibiza and four for Mallorca. British Airways is currently the only airline offering direct flights from the UK to Ibiza during the winter months – perhaps others will follow suit."

Off-peak, there is still plenty to do in Ibiza and Mallorca. Mallorca is particularly known for its golf and boasts 24 of the archipelago’s 26 golf courses. There are also plenty of shops, restaurants and bars available for travellers out of season, while the climate is still favourable. Ibiza is slightly more subdued during winter but there are plenty of opportunities to explore the island.

Improving links between London and Ibiza and the Balearics also has a positive effect for the capital. Mr Chavarria Waschke explained that the London City Airport’s Dockland has great appeal for the Balearics’ affluent target audience, thanks to its proximity to the financial district and wealthy suburban areas.

Source: http://www.propertyshowrooms.com/spain/property/news/access-spain-improved-for-brits_312733.html

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Race Recap: 2013 Indianapolis 500 improved than Bollywood; all a emotion, nothing of a song [spoilers]

Monday, June 3rd, 2013

If the 2013 Indy 500 were the film it would be the a single approaching to win all the small statues come awards season, as good as if it were an contestant it would have done spectators watch in astonishment as it pennyless jot down after record. And this kind of speak comes after final [...]

Source: http://autocarnew.net/chevrolet/race-recap-2013-indianapolis-500-better-than-bollywood-all-the-emotion-none-of-the-music-spoilers/

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The Cost Of Operating A Vehicle In Canada Increased 2.2 Percent In 2012

Sunday, June 2nd, 2013

Automotive analyst DesRosiers revealed that in 2012, the costs of operating a passenger vehicle in Canada rose at the lowest rate recorded in three years. Amongst the highlights of DesRosiers Automotive Consultants? findings is the fact total operating costs increased by just 2.2 percent last year, down considerably from the 10.6 percent gain noted in [...]

The post The Cost Of Operating A Vehicle In Canada Increased 2.2 Percent In 2012 appeared first on HybridCars.com.

Source: http://www.hybridcars.com/the-cost-of-operating-a-vehicle-in-canada-increased-2-2-percent-in-2012/

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Spanish giant to buy Luton airport

Sunday, June 2nd, 2013

Luton is Britain's fifth-largest airport, with more than 9m passengers last year THE world's largest airport operator is planning to add to its sprawling interests by taking over London Luton.The Spanish group Aena, which owns nearly 70 hubs around the globe, is believedto have exercised its right to become the new owner of Luton under an agreement with the largest shareholder.The …

Source: http://www.bignewsnetwork.com/index.php/sid/214917619/scat/a5286f17ab326d15

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Living With an EV for a Week ? Day Two

Sunday, June 2nd, 2013

Because of my RA (Range Anxiety), I drove Zippy Zappy gently on day 1, plugged the EV in immediately upon arriving at home and nixed my impromptu drive to the beach. (I haven’t named a car since I was 12 but the garish orange hue and pill-box proportions have made the name stick.) Thanks to [...]

Source: http://www.thetruthaboutcars.com/2013/05/living-with-an-ev-for-a-week-day-two/

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Spain popular among Brits

Sunday, June 2nd, 2013

Spain popular among Brits

A recent survey has found that Spain remains one of the most popular destinations for investment for British property buyers.

Conducted by the Worldwide Property Group, the study found that nearly three quarters of people currently believe it is a good time to purchase a foreign property.

Indeed, this has led one real estate consultancy to claim that no other nationality has the same "enthusiasm" for buying overseas as the British.

According to the Digital Property Group, Spain is one destination that consistently attracts interest from investors, retirees and holiday home owners.

"The enthusiasm for buying property overseas is 50 years old. Only the British do this in this very enthusiastic way," Nigel Lewis, head of content at the company, said.

Property investors may want to take advantage of current low house prices in Spain, or keep an eye out for any distressed properties coming to the market which are often available at reduced prices.

Source: http://www.propertyshowrooms.com/spain/property/news/spain-popular-among-brits_296340.html

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Majorca ‘most affordable European self-catering destination’

Sunday, June 2nd, 2013

Majorca 'most affordable European self-catering destination'

New research from the Post Office has revealed that Majorca is the most affordable European destination for self-catering holidays, which could highlight the island’s potential for those looking for an investment opportunity.

According to the Self Catering on a Shoe String Barometer 2011, the average cost of a family shopping basket for one week is £44.23 in Majorca, putting it ahead of other Spanish destinations on the Costa Blanca, where the same items came in at £47.28.

Eggs, toilet rolls, milk, bread, water and cheese were among the products purchased as part of the survey.

With families increasingly looking for ways to cut back on holiday spending, there could be the potential for buy-to-let investment on the island.

And as the Knight Frank Global House Price Index recorded a 4.6 per cent fall in Spanish property prices over the past 12 months, now could be a good time for buyers with funds available who want to find property in Balearic Islands destinations.
 

Source: http://www.propertyshowrooms.com/spain/property/news/majorca-most-affordable-european-self-catering-destination_311458.html

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Has Spanish financial restructuring hit a roadblock?

Sunday, June 2nd, 2013

Has Spanish financial restructuring hit a roadblock?

The restructuring of the Spanish financial system may have hit a roadblock, with economy minister Luis de Guindos declaring that the country’s three fully nationalised banks will not be merged. Reuters reported that despite a failed auction attempt, the option of a merger will not be explored. However, with Spain under pressure to privatise the institutions before the EU-imposed deadline of 2017, the government needs to come up with a new plan and fast.

Last week, sources had told the news provider that officials had been investigating a full or partial merger of Bankia and Catalunya Banc, after sales collapsed. The third lender, NCG Banco is currently fully owned by the restructuring fund FROB.  "We have three banks 100 percent-owned by the FROB, and logically there will be a coordination of plans between the three," Mr de Guindos said."They will absolutely not be merged."

Placing Catalunya Banc and Bankia under one holding company is one way to avoid a complete merger, which would require input from Brussels. However, there may still be a reluctance on the part of some to wave goodbye to hopes of autonomy for the three banks.

So what does this mean for Spanish property? Ultimately, with the country’s banks still under government control, lending is likely to remain constrained and uncompetitive. What’s more, there could be implications for the ability of banks to handle toxic assets.

However, any concern is arguably premature, as the International Monetary Fund (IMF) has declared that Spain’s financial reforms are on track. Officials particularly praised the country’s conduct in absorbing troubled financial institutions into Sareb and managing the transfer of assets.

Nonetheless, the IMF has highlighted that "vigilant oversight" is needed to ensure any risks to the economy and the financial sector are controlled. Spain remains in a fragile position, with recession in other parts of Europe filtering through to the country. The economy is also expected to shrink in 2013 for the second year in a row, while unemployment looks set to rise.

Source: http://www.propertyshowrooms.com/spain/property/news/has-spanish-financial-restructuring-hit-roadblock_312669.html

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Continental introduces new technology for Indian markets

Sunday, June 2nd, 2013

Continental is set to ramp up its presence in India as it develops more streamlined products tailor-made for the Indian market

Source: http://www.zigwheels.com/news-features/auto-insight/continental-introduces-new-technology-for-indian-markets/14959/

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Luis de Guindos: Cypriot bailout no cause for Spanish concern

Saturday, June 1st, 2013

Luis de Guindos: Cypriot bailout no cause for Spanish concern

People should not fear for Spain’s future because of the situation in Cyprus, according to the country’s economy minister. Speaking ahead of the bailout that was approved early this morning (March 25th), Luis de Guindos told Europa Press that there has not been any flight of bank-deposits from Spain and the problems in Cyprus are unique, Reuters reported.

"To generalise the Cypriot situation to other economies in the eurozone is completely out of place," he said. This flies in the face of those that have predicted the crisis in Cyprus threatened other European nations, specifically the weaker members. However, Spain is not deterred and is arguably quietly confident about its position. Mr de Guindos revealed that the country has "absolutely" ruled out asking for international aid and things are looking up, with the yield on Spain’s ten-year benchmark bond falling to below five per cent from more than 7.5 per cent based on European Central Bank figures, the newspaper recounted.

This means "Spain’s accounts have greater credibility now" and there is likely to be almost one per cent growth next year, despite a high level of public debt. Figures from the central bank showed that public sector debt increased by 20 per cent last year, with borrowing costs rising to €884.4 billion (£763.2 billion approximately) at the end of December from €736.5 billion (£635.5 billion) in 2011. This is the equivalent to 84.1 per cent of gross domestic product  – up from 69.3 per cent in 2011 and 77.3 per cent in the penultimate quarter of 2012.

Nonetheless, Spain is determined that the Cypriot bailout will not affect their recovery and for those considering Spanish property investment this is undoubtedly good news. While the current financial crisis has made real estate more affordable than ever for buyers, over the long term overall financial stability in the country is desirable. Of course, the rental market in popular coastal areas of Spain remains strong, meaning investors will still turn a profit if they they buy the right property in the right location.

Source: http://www.propertyshowrooms.com/spain/property/news/luis-de-guindos-cypriot-bailout-no-cause-for-spanish-concern_312690.html

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Kia Soul Electric in Work?

Saturday, June 1st, 2013

As per media reports from Europe, an electric Kia Soul will join the company?s line in year 2014. Benny Oeyen, Marketing Director of Kia Europe told reporters that the electric Soul will be made for European market. Benny made this announcement during the launch of new face-lifted Sorento crossover. On the other hand, the American [...]

Source: http://kicar.net/kia-soul-electric-in-work/

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Orphaned Fisker Owners Offered $4K/Year Service Contract By…Whom?

Saturday, June 1st, 2013

Fisker Karma owners are probably feeling a little abandoned right now. As investors pick over the company like vultures around a corpse in the desert, many owners might be wondering just how they’ll get their expensive, luxury plug-in sedan serviced. That’s where a company called Hybrid Support Solutions comes in, with a $4,000 per year support…

Source: http://www.greencarreports.com/news/1084484_orphaned-fisker-owners-offered-4k-year-service-contract-by-whom

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Lease Price Slashed By One-Third For New And Existing Honda Fit EV Customers

Saturday, June 1st, 2013

While Nissan dove head first, sink-or-swim, into the EV waters with its Leaf in late 2010, Honda has demonstrated it prefers to dip its toes in first, then perhaps its calves, and while the water may still be chilly, it is getting in deeper with its Fit EV. First launched in California and Oregon in [...]

The post Lease Price Slashed By One-Third For New And Existing Honda Fit EV Customers appeared first on HybridCars.com.

Source: http://www.hybridcars.com/price-to-be-slashed-in-june-for-new-and-existing-honda-fit-ev-leases/

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New terminal set to boost visitor numbers in Spain

Saturday, June 1st, 2013

New terminal set to boost visitor numbers in Spain

Visitor numbers in Spain are expected to increase over the coming few months once the much-anticipated terminal at Alicante Airport is opened.

The new facility is due to be completed and ready for operation in time for the busy Easter period.

Currently, Alicante is Spain’s sixth busiest airport by passenger numbers and the largest in the Murcia region, with the two terminals handling in excess of nine million visitors last year.

The new complex could lead to an increase in the number of individuals looking to buy property in Spain, with a rise in tourist numbers likely to have a positive impact on the buy-to-let market.

Indeed, the terminal will increase the capacity of the Airport from nine million to 20 million passengers a year and travellers will be able to take advantage of a whole host of new amenities including shops and places to eat and drink.

Ignacio Osle, sales and marketing director of Taylor Wimpey de Espana, said that the greater accessibility of the region will be attractive to potential property investors.

"With an abundance of discounted flight fares available throughout the year and now the increased capacity for passengers that the new terminal in Alicante Airport will provide, the Costa Blanca will continue to be firmly set in the sights of second home owners and holiday makers alike," he added.

Source: http://www.propertyshowrooms.com/spain/property/news/new-terminal-set-boost-visitor-numbers-spain_311259.html

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Land Rover to showcase worlds first 9 speed autobox

Saturday, June 1st, 2013

Lighter, more refined, efficient and responsive the new ZF nine-speed torque converter gearbox is set to debut on the Range Rover Evoque at the upcoming 2013 Geneva Motor Show

Source: http://www.zigwheels.com/news-features/auto-insight/land-rover-to-showcase-worlds-first-9-speed-autobox/15759/

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Spanish tax policy yet to be decided

Saturday, June 1st, 2013

Spanish  tax policy yet to be decided

Plans to invest in Spanish property could be put on the backburner by buyers until the 2014 tax policy is decided. Budget Minister Cristobal Montoro stated on Tuesday (April 2nd) that the government is awaiting the result of European Union negotiations on the budget deficit before setting its tax goals for 2014, Bloomberg Business Week reported.

"Tax decisions for 2014 haven’t been taken yet and will obviously depend on negotiations with the European Commission and other EU partners," he said. "It will all depend on the deficit targets that are established and on their underlying economic assumptions."

Spain is hoping it will be able to increase in deficit target in 2013 to around six per cent of gross domestic product from 4.5 per cent. The country is heading into its second year of recession and its ten-year benchmark bond has fallen by two basis points to 4.92 per cent. Nonetheless, the EU commission said that it will not arrive at a decision on Spain’s budget performance until the European statistics agency Eurostat releases its budget data for 2012 on April 22nd, the news portal revealed.

Until then, it seems Spain is playing the waiting game – one it may want to avoid following news that employment and other key performance indicators have fallen once again. The Global Property Guide reported that nearly six million Spaniards are now out of work – a level that is reminiscent of the days of Franco, according to Phillip Inman, economics correspondent for the Guardian and Observer and author of Managing Your Debt, a Which? essential guide. "The country was virtually a feudal, agrarian economy the last time almost six million workers were unemployed," he wrote in the Guardian.

Worsening domestic conditions spell bad news for the Spanish property sector. While foreign demand is still high in popular tourist resorts, residential markets are suffering. Despite Sareb and other financial institutions selling distressed property at low prices, the industry remains saturated and Spanish buyers are constrained by current economic conditions. Those hoping that foreign buyers will snap up such units are also out of luck, as overseas investors are instead opting for modern, luxury developments.

Source: http://www.propertyshowrooms.com/spain/property/news/spanish-tax-policy-yet-decided_312699.html

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2013 Indianapolis 500: My Introduction To IndyCar

Saturday, June 1st, 2013

Converting a non-beliver: my first time at the Indy 500.

Source: http://rumors.automobilemag.com/2013-indianapolis-500-my-first-indycar-experience-226733.html

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