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Live cattle exports SPAIN has temporarily suspended live cattle exports to Morocco following the detection of lumpy skin disease in Catalonia, Agriculture Minister Luis Planas confirmed on October 21. The virus, spread by biting insects, affects cattle and buffalo, causing skin lesions and reduced milk production. It is harmless to humans but can lead to severe economic losses and trade restrictions. The first outbreak was reported on October 1 at a farm in Castelló d’Empúries, Girona, where three of 123 dairy heifers showed symptoms. Authorities confirmed two further outbreaks within a week, affecting a total of 655 cattle. The Spanish government quarantined the farms, culled infected animals, and launched a vaccination campaign within a 50-kilometre radius. “We have temporarily suspended exports of live animals to prevent the spread of the disease; France has done the same,” Planas said in Madrid, as reported by Reuters. According to El Faro de Ceuta, Morocco remains free of the virus but has increased veterinary inspections at border crossings to prevent infected cattle entering. The restriction applies only to live animal shipments; exports of red meat and dairy products continue under normal rules. Spain’s livestock industry has urged the government to limit trade restrictions to affected areas to protect other regions. The export ban will remain in place until vaccination coverage improves, and no new outbreaks are recorded. Struggling homebuyers MORE than three in four prospective homebuyers in Spain (76.5 per cent) can no longer afford to purchase in their preferred area, according to the 2025 Buyer Profile Study presented by the Spanish Federation of Real Estate Associations (FAI) at its annual congress in Toledo. The study found that 39 per cent of buyers have postponed their purchase due to high prices, while 37 per cent are blocked by a lack of available properties. The typical buyer is 41 years old, part of a couple with children, and looking for a home priced between €150,000 and €250,000. FAI president José María Alfaro warned that Spain’s housing crisis has become “a structural problem”, spreading beyond big cities to medium-sized towns. He called for better coordination between administrations and more efficient use of European funds to boost affordable housing supply. Birmingham summit BUSINESS SECRETARY Peter Kyle has called for a renewed focus on “investment, innovation and regional prosperity” during the Regional Investment Summit in Birmingham. Highlighting the West Midlands’ “dynamic industrial future”, Kyle praised Metro Mayor Richard Parker’s local growth initiatives. He announced a new £4 billion mandate for the British Business Bank to support key sectors and pledged to cut red tape hindering UK business. Kyle said the government’s priority was to “end low growth and deliver national renewal.” Rising absenteeism AT the 28th Congress of Spanish Family Businesses in Burgos, over 600 executives warned that “excessive regulation and absenteeism” are throttling growth, as reported by The Corner. More than half (55 per cent) cited absenteeism – with over one million workers absent daily – as their biggest threat, ahead of skills shortages and regulatory changes. Firms say state and EU bureaucracy is their top challenge. Economist José Juan Ruiz noted Europe issued 19,000 regulations since 2019, “four times more than the US.” Hydrogen network ENAGÁS has launched its Public Participation Plan for the Spanish Hydrogen Backbone Network in Asturias, at an event attended by regional president Adrián Barbón. The plan covers 23 municipalities and includes workshops in 13 towns to promote dialogue and transparency. CEO Arturo Gonzalo said Asturias will be key to Spain’s green hydrogen hub, where two main network axes will meet. The hydrogen backbone will span 220 km in Asturias, supporting Spain’s energy transition and industrial renewal. Indra funding SPANISH defence giant Indra is set to expand across Europe with the help of new EU funding, CEO José Vicente de los Mozos told Euractiv. Describing the company as “ready for the Champions League,” he said Indra plans to ramp up production of radar and anti-drone systems amid rising EU demand. The firm, which recently received 96 per cent of Spain’s €6.9 billion defence loans, is targeting Poland, Germany, and Belgium as key markets for growth and partnerships. Islamic banking THE Bank of England has doubled the size of its special fund that helps Islamic banks operate in the UK without using interest, which is banned under Sharia law. Speaking at a finance conference in London, Executive Director Victoria Saporta said the Alternative Liquidity Facility has grown from £200 million to £550 million. It allows banks to earn returns through Islamic bonds, known as sukuk, instead of interest. Saporta said the scheme has been a “central banking success”, helping UK Islamic banks grow and manage their money more safely. Popular Primark PRIMARK’S flagship store on Madrid’s Gran Vía generated €83 million for Spain’s GDP in 2024, according to a new report by consultancy Afi marking the store’s 10th anniversary. The five-storey, 12,500 m² location also contributed €42 million in taxes and social security and employs more than 1,000 people. Opened in 2015, it sparked a retail boom along Gran Vía – where the number of shops has nearly doubled from 101 to 186 in the past decade. Primark Iberia managing director Carlos Inácio said the store had “changed us as a brand” and strengthened Madrid’s retail hub. Financial warning BANK OF ENGLAND’S Andrew Bailey warned that the collapse of US firms First Brands and Tricolor could signal wider financial risks, drawing parallels with the 2008 crisis. He said the Bank would run stress tests on private credit firms due to “alarm bells.” Fraud foresight MADRID-BASED cybersecurity startup Acoru has raised €10 million in Series A funding led by 33N Ventures to help banks predict and prevent AI-driven fraud and money laundering. Founded in 2023, Acoru’s platform uses pre-fraud detection and intent-based risk scoring to identify scams. Doughnuts galore KRISPY KREME has opened its first shop in Spain, launching in Madrid through a joint venture with Glaseados Originales S.L. The brand plans over 50 Spanish locations within four years, marking another milestone in its ongoing global growth strategy. Foreign buyers HOME purchases by foreigners in Spain rose 2 per cent year-on-year in the first half of 2025, totalling 71,155 transactions, according to the Notaries Association. The British led, followed by Moroccans and Germans. Prices surged in Madrid, La Rioja, and the Canary Islands. RACHEL REEVES has launched a crackdown on “pointless admin,” pledging to save UK businesses nearly £6 billion a year by reducing red tape. Over 100,000 firms will benefit from simplified reporting rules as part of a government drive to cut bureaucracy and boost productivity. Statistic of the week 21.1% of enterprises with 10 or more employees used artificial intelligence in the first quarter of 2025, according to INE. View all finance news. View all news from Spain. View all UK news.
