Peugeot Citroen in Spain recalled more than 2,000 cars accelerator pedal. According to sources, the recall is quite similar to that noticed by Toyota for eight models of its brand including the Aygo city.

The models include Peugeot 107 and Citroen C1, which is said to have some problem with its accelerator pedal. Moreover, the company has also announced that it will do a free update.

According to the statement issued by the car makers’ association ANFAC, the country’s car sales for the month of January increased by 18.1% as compared to the same period of 2009, but will decrease in the second half of this year as Spanish government subsidies fade away.

Moreover, the hike in car sales comes after a rise of 25.1% in the month of December and 37.3% in the month of November. Car sales decreased 17.9% in last year to 952,772 vehicles.

While talking to reporters, the Minister of Health and Social Policy, Trinidad Jimenez announced that the government would not lift the tobacco ban in the country as some leader of the Popular Party proposed.

Moreover, the minister told media that his department is working to study the consequences of using tobacco, resulting around 55,000 deaths every year and between 1,500 and 3,000 indirectly and to secure the health of others, with a smoke-free environment.

According to sources, the 14th edition of MITM Euromed, Meeting and Incentive Travel Market, is all set to take place in the Spain’s Costa Brava resort city of Lloret de Mar.

The meeting is scheduled to be held from June9-11 this year.

Moreover, MITM will be sponsored by Lloret de Mar-Costa Brava, Olympic Congress Center, as well as Evenis Hotels, while it will take place at the award winning “Olympic Congress Center.”

Banco Espanol de Credito (Banesto), said that it has recorded 95 per cent fall in its net profit for fourth quarter previous fiscal.

Banesto, Spain's fourth-biggest bank by market capitalization and managed by global giant Banco Santander, posted a net profit of only EUR6.2 million in the last three months of 2009, which is nowhere near to the net profit of EUR126 million in 2008. However, analysts had estimated EUR12.5 million net profits.

According to latest data revealed by Property-Abroad. com, Spain has gained popularity among the potential property. It has become the second most seek out destination for property investment.

Spain’s holiday villas have succeeded in attracting the attention of property buyers.

In its report Spanish property website, Kyero. com said that there was a 63 per cent rise in the number of unique visitors to website for the very first week of 2010 in contrast to same period last year.

Spanish oil company Repsol YPE SA has announced that it will hold a board meeting on January 15 to vote to confirm its confidence in Chairman Antonio Brufau.

While filling to the Spanish market regulator, the company has revealed that it will vote on the degree of success if it’s strategic plan.

Earlier this week, some of the Spanish news channels reported that the company’s leading shareholder, Sacyr-Vallehermoso SA, has in past weeks been looking for a replacement for Brufau.

Highly indebted Sacyr in current months has been at odds with Brufau over the allocation of funds.

Santander Bank is looking forward to sign up a joint venture with China Construction Bank (CCB).

The Santander Bank, which is the largest bank in the eurozone, has refused to give any statement, however, some sources told reporters that the joint venture will focus on rural banking and car financing as well.

According to some national media, “The joint financial holding company will likely have an initial capital of US$439 million, rising to US$732 million in three years.”

According to the recent news by Spanish national radio, the country is sending 40 disaster relief experts to Haiti to find out the thousands missing in the rubble of buildings that collapsed in the huge earthquake.

Moreover, it said that the plane will leave overnight from military base outside Madrid for Port-au-Prince carrying 40 police, firefighters as well as members of the emergency services along with trained dogs.

They all will be followed by Secretary of State for Latin America Juan Pablo de Laiglesia and foreign ministry officials.

Formula One star Michael Schumacher spent a second day behind the wheel of the GP2 Series “development” car at Spain's Jerez circuit but bad weather intervened once again.

The track was wet at the beginning and at the end of the day. Schumacher finished 78 laps and 53 of which were on slick tires. However, it was below the mileage than he expected as he worked hard to get back in the groove and give his neck--injured in a motorcycle racing crash almost one year ago--a good test.