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Local News

Local News

Duty-free allowances to change under new treaty rules

When the treaty comes into force, a new duty-free allowances regime will apply to purchases of goods by individuals, provided these consist exclusively of items for the personal or family use of travellers, or goods intended as presents. The allowances will be set at €430 for travellers arriving by sea or air and €300 for...

Local News

Gibraltar FIU takes key Egmont policy role after Tanzania meetings

The Gibraltar Financial Intelligence Unit (GFIU) took part in the 26th annual Egmont Group Working and Regional Group Meetings in Arusha, Tanzania, last week, where its Head of Operations, Carl Ramagge, was selected as Chair of a key policy working group. The meetings, hosted by the Tanzania Financial Intelligence Unit, brought together more than 400...

Local News

Airfield closed affecting all morning flights

Gibraltar International Airport suffered a technical issue affecting Air Traffic Control equipment on Monday morning, leaving all three flights due to land on the Rock currently holding off to the east side of the Rock. The first flight, the British Airways from Heathrow has already diverted to Malaga. A spokesperson from the MOD said. "Flights...

Local News

Property market realigns as total deal value falls and residency pause weighs on confidence 

Gibraltar’s property market is in realignment, buoyed by treaty optimism but weighted by temporary suspension of residency applications, real estate agents have said, with the total deal value in the last financial year down by over 40%.  In the last financial year, Gibraltar’s real estate agents closed deals worth £202.2m, a significant reduction from £366.5m...

UK/Spain News

UK/Spain News

Second day of flooding and disruption in Campo as stormy weather persists

Storm Leonardo hit the Campo de Gibraltar hard for a second day on Thursday, with torrential rain continuing and winds registering gusts of up to 85km/h in Tarifa. The bad weather left streets and roads flooded in many Campo municipalities and brought down trees and branches across the area, with emergency services continuing on high...

UK/Spain News

Bank of England holds interest rates but future cuts ‘likely’ 

By Anna Wise and Henry Saker-Clark, Press Association Business Reporters  The Bank of England has said future interest rate cuts are “likely” amid a slowdown in inflation, despite policymakers voting to hold rates at 3.75% on Thursday.  It came as the central bank also warned that economic growth is now set to be weaker than previously expected while unemployment...

UK/Spain News

Andalucia braced for intense rain amid flooding fears

Andalucia is braced for severe weather on Wednesday, with a ‘red alert’ issued for parts of Cadiz provinces and amber and yellow alerts across the rest of the region. Some forecasters are predicting rainfall of up to 550 litres per square metre in mountainous areas around Ronda, Ubrique and Grazalema, all of which are on...

UK/Spain News

Treaty negotiation was ‘an obstacle to break through’ in Spain/UK relations, Sanchez says

The negotiation for a treaty on Gibraltar was like “an obstacle to break through”, Spain’s Prime Minister Pedro Sanchez said in an interview published on Friday. In the interview with the New Statesman magazine, Mr Sanchez highlighted the importance of the relationship between Spain and the UK, the only two major European nations led by...