Recent report by Telefonica SA (TEF), Spain's biggest telephone company states that the first-quarter profits for it have missed the expert's expected returns. It exhibited a decline of 1.3% to 11.14 euros at 9:34 a. m. in Madrid. Latin America and Europe saw a plunge in sales by 16%.

Experts have explained that the competition was responsible for the plummeting sales for the company. The completion has been widespread, all across Latin America and Europe.

A UK court has provided the ruling that says that an alleged member of the Basque separatist group Eta can be sent to Spain to confront terrorism charges.

Westminster Magistrates' Court, Judge Nicholas Evans has called Spain a trusted extradition partner in the case. The member's name is Raul Angel Fuentes Villota. He was arrested in Liverpool last year. He's been on this course for 17 years. Earlier, he missed bail in Spain in 1995. Here he was accused of attempting to bomb a police officer's car in 1991.

With an intention of reduction in youth unemployment and to speed the efforts in banking reforms so as to stabilize the financial condition of Europe, the premiers of Spain and Italy joined hands so that they can focus more on encouraging economic growth rather than focusing just on reduction of debt.

On Sunday, a historic jet plane tended to crash into a hangar. It has been revealed that the crash caused the pilot to be severely injured, who later was taken to a hospital, but died.

The injured pilot named Ladislao Tejedor Romero, 35, was admitted in the serious burns unit at Getafe hospital. He was an assistant to Defense Minister Pedro Morenes and was experienced in jet piloting.

As per the findings, the plane had exploded at an airshow in a fireball, southwest of the capital. People at the show were forced to run all of a sudden.

As per recent reports, Iker Casillas, the Captain of Real Madrid, has disclosed that he will stay at the Santiago Bernabeu for the upcoming season. He expressed that he was in contract with Real Madrid and his future lay with it only.

He asserted that he has been at the club since he was nine years old and he always wanted to be there. By that all the speculations of his movement to the Premier League came to an end. He faced major disagreements and had a terrible second half of seasons under José Mourinho.

In a letter to the Voice of Gibraltar Group (VOGG), David Lidington has expressed his views about the issue in Gibraltar about the incursions. He wrote that he was aware of the deep public linked with the issue but any response to the same must be controlled.

The UK minister also said that unlawful incursions by Spanish State vessels violate the UK's sovereignty but are not the threat to the same. Also, he mentioned that they didn't comprise an armed attack or invasion; therefore, it is necessary that response is appropriate.

Many Latin American currencies are getting soared and various remittances are flowing from Spain to Latin America. The latest data of remittances in Inter-American Development Bank shows the increasing economic crisis in Spain.