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		<title>Spanish PM’s Plane Makes Emergency Landing in Turkiye</title>
		<link>https://millichronicle.com/2026/05/66398.html</link>
		
		<dc:creator><![CDATA[NewsDesk MC]]></dc:creator>
		<pubDate>Mon, 04 May 2026 11:08:45 +0000</pubDate>
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					<description><![CDATA[Ankara— A plane carrying Spanish Prime Minister Pedro Sanchez made an emergency landing in Turkiye on Sunday due to a]]></description>
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<p><strong>Ankara</strong>— A plane carrying Spanish Prime Minister Pedro Sanchez made an emergency landing in Turkiye on Sunday due to a technical issue, the Spanish government said.</p>



<p>The aircraft was en route to Armenia when the incident occurred, where Sanchez was scheduled to attend a meeting of the European Political Community.</p>



<p>Spanish authorities said the delegation would remain overnight in Ankara before continuing the journey on Monday.</p>



<p> No details were provided regarding the nature of the technical problem.European leaders are gathering in Yerevan for the EPC meeting, which is set to begin Monday.</p>
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		<title>Spain Demands Release of Activist as Gaza Flotilla Detention Fuels Rift With Israel</title>
		<link>https://millichronicle.com/2026/05/66361.html</link>
		
		<dc:creator><![CDATA[NewsDesk MC]]></dc:creator>
		<pubDate>Sun, 03 May 2026 13:28:15 +0000</pubDate>
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					<description><![CDATA[Solaris-Spain on Saturday demanded the immediate release of activist Saif Abukeshek, a dual Spanish-Swedish citizen of Palestinian origin, after Israeli]]></description>
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<p><strong>Solaris-</strong>Spain on Saturday demanded the immediate release of activist Saif Abukeshek, a dual Spanish-Swedish citizen of Palestinian origin, after Israeli forces intercepted an aid flotilla bound for Gaza in international waters and detained him for questioning, deepening diplomatic tensions between Madrid and Tel Aviv over the war in Gaza.</p>



<p>Abukeshek was detained alongside Brazilian activist Thiago Ávila after the Israeli navy stopped the humanitarian vessel, while dozens of other activists were intercepted by the Greek coast guard and taken to the island of Crete, according to officials and legal representatives.</p>



<p>Spanish Foreign Minister José Manuel Albares described the detention as unlawful and said he had raised the matter directly with his Israeli counterpart.“This is a case of illegal detention in international waters, outside the jurisdiction of Israeli authorities,” Albares said in an interview with Spain’s public radio.</p>



<p> “I have made this clear to my Israeli counterpart.”The Legal Center for Arab Minority Rights in Israel, known as Adalah, said it visited both men at a detention facility in the Israeli port city of Ashkelon and reported that they had begun a hunger strike.</p>



<p>The group said the two activists alleged they had been repeatedly beaten while in custody and were subjected to isolation, prolonged blindfolding and physical assault.“Adalah maintains that the treatment of the two activists, including the use of isolation, prolonged blindfolding and physical beatings, constitutes a grave violation of international law,” the organization said in a statement.</p>



<p>Israel’s Foreign Ministry said in an online post that Abukeshek and Ávila were being questioned over possible links to the Palestinian militant group Hamas and confirmed that both had been granted consular access.</p>



<p>The detention has added fresh strain to already tense relations between Israel and Spain, one of Europe’s most vocal critics of Israel’s military campaign in Gaza.Spain formally recognized Palestinian statehood in 2024, a move that triggered strong objections from Israel and widened diplomatic friction between the two governments.</p>



<p>Prime Minister Pedro Sánchez intensified criticism on Friday during a campaign event ahead of regional elections in southern Spain, directly addressing Israeli Prime Minister Benjamin Netanyahu over the detention.“Now that Netanyahu has taken foreign citizens, including a Spanish national, and brought them to Israel, I have a few things to say to Prime Minister Netanyahu,” Sánchez told supporters of his Socialist Party.</p>



<p>“First, Spain will always protect its citizens. Second, we will always uphold international law — and this is yet another violation of it,” he said. “And third, we demand the release of the Spanish citizen who has been illegally detained by the Netanyahu government.”</p>



<p>The case has drawn wider attention across Europe as international activists continue attempts to deliver humanitarian aid to Gaza amid the prolonged conflict and worsening humanitarian conditions in the enclave.</p>
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		<title>Sanchez Flags ‘Unsustainable’ EU-China Trade Gap on Beijing Visit</title>
		<link>https://millichronicle.com/2026/04/65160.html</link>
		
		<dc:creator><![CDATA[NewsDesk MC]]></dc:creator>
		<pubDate>Mon, 13 Apr 2026 06:48:24 +0000</pubDate>
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		<guid isPermaLink="false">https://millichronicle.com/?p=65160</guid>

					<description><![CDATA[Beijing — Pedro Sanchez said on Monday that China’s trade imbalance with the European Union was “unsustainable,” urging Beijing to]]></description>
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<p><strong>Beijing</strong> — Pedro Sanchez said on Monday that China’s trade imbalance with the European Union was “unsustainable,” urging Beijing to expand market access for European goods as he began a three-day visit aimed at strengthening economic ties.</p>



<p>Speaking at Tsinghua University, Sanchez said trade flows between China and the EU were “imbalanced” and called on Chinese authorities to open their markets to address a widening deficit. “We need China to open up so that Europe does not have to close itself off,” he said, adding that the deficit grew by 18 percent last year and posed risks over the medium to long term.</p>



<p>Sanchez’s visit, his fourth to China in four years, comes as Madrid seeks to position itself as a bridge between Beijing and the 27-member EU amid signs of strain in transatlantic relations. Recent tariff measures and policy shifts under Donald Trump have prompted several Western governments to pursue closer economic engagement with China.</p>



<p>Spain recorded a trade deficit of 42.3 billion euros ($49.1 billion) with China last year, with Sanchez noting that the shortfall accounts for 74 percent of the country’s overall trade deficit. Spain’s population of roughly 50 million contrasts with China’s more than 1.4 billion, underscoring the structural imbalance in bilateral trade.</p>



<p>The Spanish government is seeking improved access for agricultural and industrial exports and exploring opportunities for joint ventures in the technology sector. Officials also aim to attract Chinese investment into Spain and secure access to critical raw materials.</p>



<p>During the visit, Sanchez is scheduled to tour facilities linked to Xiaomi and the Chinese Academy of Sciences, before holding talks with senior Chinese leaders including President Xi Jinping and Premier Li Qiang.</p>



<p>The trip follows a period of diplomatic friction with Washington after Trump threatened to reduce trade ties with Spain, citing Madrid’s refusal to allow use of its military bases for U.S. strikes against Iran, a key Chinese economic partner.</p>



<p>Spain’s exports to China rose 6.8 percent in 2025, according to government data, reflecting strengthened bilateral engagement. During Sanchez’s previous visit in April 2025, Beijing agreed to expand market access for Spanish products including pork and cherries.</p>



<p>Chinese foreign ministry spokeswoman Mao Ning described Spain as “an important partner of China within the EU,” signaling Beijing’s willingness to deepen bilateral cooperation.</p>
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		<title>Sanchez’s China Outreach Tests US Ties as Strategic Balancing Deepens</title>
		<link>https://millichronicle.com/2026/04/65144.html</link>
		
		<dc:creator><![CDATA[NewsDesk MC]]></dc:creator>
		<pubDate>Mon, 13 Apr 2026 06:29:15 +0000</pubDate>
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		<guid isPermaLink="false">https://millichronicle.com/?p=65144</guid>

					<description><![CDATA[Madrid — Pedro Sanchez began his fourth visit to China in as many years on Monday, underscoring his push for]]></description>
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<p><strong>Madrid</strong> — Pedro Sanchez began his fourth visit to China in as many years on Monday, underscoring his push for closer economic ties with Beijing despite the risk of heightened tensions with Donald Trump.</p>



<p>Sanchez’s trip highlights Spain’s effort to chart an independent foreign policy within Europe, positioning China as a strategic partner rather than a geopolitical rival, in contrast with Washington’s stance.</p>



<p> Trump has previously criticized Madrid over its refusal to grant landing rights for U.S. forces during the Iran conflict and for what he described as insufficient defence spending among NATO allies.</p>



<p>The Spanish leader’s approach has drawn mixed reactions domestically, with supporters backing his economic engagement strategy while businesses and opposition figures warn that deteriorating relations with the United States could carry economic risks.</p>



<p>A government source said Sanchez’s meeting with Xi Jinping on Tuesday would focus on geopolitical issues, reflecting Madrid’s view of China as a stabilizing global actor. However, trade representatives cautioned that such positioning could exacerbate existing strains, particularly as U.S. tariffs on European Union imports continue to weigh on Spanish exports.</p>



<p>“The United States is the leading foreign investor in Spain,” said Ramon Gascon Alonso of Spain’s Exporters’ and Investors’ Club, pointing to the importance of bilateral trade in key sectors of the economy.</p>



<p>Opposition figures have also criticized Sanchez’s stance, warning that public disagreements with Washington could undermine NATO cohesion and jeopardize the U.S. military presence in Spain.</p>



<p>China’s ambassador to Spain, Yao Jing, said stable bilateral relations had contributed to increased Chinese investment, describing Spain as pragmatic in its approach to economic cooperation and market access.</p>



<p>Official data showed Chinese firms invested 643 million euros in Spain in 2025, up from 149 million a year earlier, bringing total investment between 2010 and 2025 to 9.7 billion euros, largely concentrated in extractive industries and the energy sector.</p>



<p>During the three-day visit, Sanchez is scheduled to attend a formal banquet hosted by Xi, meet Premier Li Qiang and senior legislator Zhao Leji, and engage with business and academic leaders, including a visit to Xiaomi and a speech at Tsinghua University.</p>



<p>Spain is seeking to narrow a trade deficit with China that has more than doubled over four years to nearly $50 billion in 2025, with efforts focused on boosting agricultural and manufacturing exports. </p>



<p>Officials are also aiming to finalize a regionalization agreement to protect poultry exports affected by bird flu, following a similar arrangement that supported the pork industry during a previous African swine fever outbreak.</p>
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		<title>Morocco’s Vision for Peace Gains Global Backing as UN Endorses Western Sahara Autonomy Plan</title>
		<link>https://millichronicle.com/2025/11/58522.html</link>
		
		<dc:creator><![CDATA[NewsDesk MC]]></dc:creator>
		<pubDate>Sat, 01 Nov 2025 15:17:29 +0000</pubDate>
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					<description><![CDATA[In a landmark decision, the United Nations has urged renewed negotiations on Western Sahara based on Morocco’s 2007 autonomy plan]]></description>
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<blockquote class="wp-block-quote">
<p>In a landmark decision, the United Nations has urged renewed negotiations on Western Sahara based on Morocco’s 2007 autonomy plan — a move widely viewed as a breakthrough toward lasting peace, stability, and regional cooperation in North Africa.</p>
</blockquote>



<p>The United Nations has marked a pivotal moment in African diplomacy by endorsing Morocco’s autonomy plan for Western Sahara as the most realistic and forward-looking solution to the long-standing territorial dispute. </p>



<p>In a resolution adopted by the UN Security Council, the global body emphasized that Morocco’s proposal offers a balanced framework that upholds sovereignty while ensuring self-governance, unity, and development. </p>



<p>The decision reflects growing international recognition of Morocco’s leadership in promoting peace, stability, and cooperation across the Maghreb.</p>



<p>The U.S.-drafted resolution, supported by 11 of the 15 Security Council members, called on all parties to engage in serious, results-oriented negotiations. </p>



<p>U.S. Ambassador to the UN Mike Waltz highlighted that genuine dialogue could lead to regional peace within the year, reaffirming the international community’s confidence in Morocco’s diplomatic approach. </p>



<p>This milestone underscores a collective shift toward pragmatic, inclusive, and sustainable conflict resolution that prioritizes stability and human development.</p>



<p>Morocco’s autonomy plan, first introduced in 2007, proposes the creation of an elected legislative, executive, and judicial authority within Western Sahara, giving residents meaningful participation in local governance.</p>



<p> Under this framework, Morocco retains control over defense, foreign affairs, and religious matters — ensuring unity and national integrity while empowering local communities to manage their economic and cultural affairs. </p>



<p>The plan has been widely praised as a model for modern self-determination and regional collaboration.</p>



<p>Following the UN’s announcement, King Mohammed VI hailed the resolution as a “new chapter” in strengthening the “Moroccanness of the Sahara” and advancing peace throughout the region.</p>



<p> The King reiterated his call for “brotherly dialogue” with Algeria, reaffirming Morocco’s unwavering commitment to good-neighborly relations and the Maghreb Union. </p>



<p>His message emphasized partnership over rivalry and prosperity over division, setting a tone of reconciliation and shared progress.</p>



<p>Celebrations erupted across Moroccan cities as thousands waved national flags and chanted patriotic songs to honor the diplomatic victory.</p>



<p> The public’s response reflected not only national pride but also renewed optimism for a peaceful future in which Morocco’s vision of unity and development becomes a regional reality.</p>



<p> This moment also demonstrated the deep bond between Morocco’s people and leadership in shaping a stable and prosperous future.</p>



<p>The Security Council’s decision also renewed the mandate of the UN peacekeeping mission in Western Sahara (MINURSO) for another year, ensuring continued stability while negotiations move forward.</p>



<p> It also called for a strategic review of the mission’s role, aligning it with the political progress expected under Morocco’s inclusive proposal. This highlights the UN’s trust in Morocco’s ability to facilitate peace and cooperation through dialogue and reform.</p>



<p>International support for Morocco’s autonomy plan has steadily grown. The United States, France, Spain, and the United Kingdom have all endorsed Rabat’s initiative, calling it the only viable solution that balances sovereignty with self-determination. </p>



<p>This growing consensus marks a decisive shift in global policy toward a practical and peaceful resolution, strengthening Morocco’s role as a key diplomatic and economic bridge between Africa, Europe, and the Arab world.</p>



<p>King Mohammed VI also urged Sahrawi refugees living in the Polisario-run camps in Algeria to embrace autonomy under Moroccan sovereignty, calling it a path toward dignity, progress, and national unity. </p>



<p>His appeal highlighted the humanitarian dimension of Morocco’s initiative — one that prioritizes the well-being of all citizens and envisions a future built on coexistence, opportunity, and hope.</p>



<p>The UN’s endorsement of Morocco’s autonomy plan represents far more than a political decision — it is a declaration of confidence in a shared vision for peace, prosperity, and cooperation. </p>



<p>As the world watches this new chapter unfold, Morocco’s leadership in diplomacy, governance, and sustainable development stands as a model for resolving complex regional challenges through dialogue, partnership, and vision.</p>
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		<title>Spain&#8217;s PM Sanchez talks to Israeli cabinet minister after row</title>
		<link>https://millichronicle.com/2023/12/spains-pm-sanchez-talks-to-israeli-cabinet-minister-after-row.html</link>
		
		<dc:creator><![CDATA[NewsDesk MC]]></dc:creator>
		<pubDate>Fri, 01 Dec 2023 15:58:16 +0000</pubDate>
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					<description><![CDATA[Madrid (Reuters) &#8211; Spain&#8217;s Prime Minister Pedro Sanchez spoke with Israeli war cabinet member Benny Gantz on Friday to try]]></description>
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<p><strong>Madrid (Reuters) &#8211;</strong> Spain&#8217;s Prime Minister Pedro Sanchez spoke with Israeli war cabinet member Benny Gantz on Friday to try to defuse tension between the two countries after comments by Sanchez angered Israel for a second time in a week.</p>



<p>Israel recalled its ambassador to Spain for consultations in Jerusalem on Thursday after Sanchez said he doubted Israel respected international humanitarian law and repeated that military action in the Gaza Strip was not acceptable.</p>



<p>Israel&#8217;s Foreign Minister Eli Cohen said Sanchez&#8217; remarks were &#8220;outrageous&#8221;.</p>



<p>&#8220;Israel is acting, and will continue to act, according to international law,&#8221; Cohen said on Thursday in a post on X, formerly known as Twitter.</p>



<p>Last week, similar comments by Sanchez and his Belgian counterpart Alexander de Croo at the Egyptian-controlled Rafah crossing prompted Cohen to summon the ambassadors of both countries over the remarks that he said repeated &#8220;false claims&#8221; and &#8220;gave terrorism a boost&#8221;.</p>



<p>On Friday, Sanchez said he told Gantz &#8211; a former Defence Minister who joined Netanyahu in an emergency unity government last month &#8211; by phone that Israel is &#8220;a partner and friend of Spain&#8221;.</p>



<p>&#8220;Israel has the right to defend itself against this terrorist attack, but I reaffirmed that Spain finds the death of civilians in Gaza unbearable and that Israel must comply with international humanitarian law,&#8221; Sanchez wrote in a post in X.</p>



<p>Gantz also said on X he had emphasised to Sanchez &#8220;that for the sake of Israel&#8217;s security, Israeli civilians&#8217; sense of security, and restoring regional stability &#8211; terrorist Hamas must be dismantled in Gaza.&#8221;</p>



<p>&#8220;I added to the Prime Minister that the State of Israel places great importance on avoiding civilian casualties as much as possible. Hamas on the other hand, continues to perpetrate horrific crimes against humanity like using children and women as human shields for its terror activities,&#8221; he also wrote in X.</p>
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		<title>Spain opposes suspending aid to Palestinian territories</title>
		<link>https://millichronicle.com/2023/10/spain-opposes-suspending-aid-to-palestinian-territories.html</link>
		
		<dc:creator><![CDATA[NewsDesk MC]]></dc:creator>
		<pubDate>Fri, 13 Oct 2023 10:03:58 +0000</pubDate>
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					<description><![CDATA[Madrid (Reuters) &#8211; Spain opposes the proposed suspension of European Union aid to the Palestinian territories, the Spanish Acting Foreign]]></description>
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<p><strong>Madrid (Reuters) &#8211;</strong> Spain opposes the proposed suspension of European Union aid to the Palestinian territories, the Spanish Acting Foreign Minister Jose Manuel Albares said on Tuesday.</p>



<p>Indeed, Palestinian territories will likely need more aid in the near future after Hamas&#8217; Saturday&nbsp;attack on Israel&nbsp;and Israel&#8217;s subsequent bombardment of the Gaza Strip, he said.</p>



<p>&#8220;This cooperation must continue; we cannot confuse Hamas, which is in the list of EU&#8217;s terrorist groups, with the Palestinian population, or the Palestinian Authority or the United Nation&#8217;s organisations on the ground,&#8221; Albares said in an interview with Spanish radio Cadena SER.</p>



<p>EU foreign ministers will meet to discuss the issue on Tuesday after European Commissioner for Neighbourhood and Enlargement Oliver Varhelyi said on Monday on social media platform X that all payments had been suspended.</p>



<p>The European Commission contradicted Varhelyi&#8217;s statement, saying that payments were not suspended and that it was merely reviewing aid to Palestinian territories.</p>



<p>Even though countries such as Austria have announced the end of funding to Palestinian territories, others such as Spain consider the aid flow crucial for the civilian population.</p>



<p>Suspending aid would be &#8220;counterproductive&#8221;, Albares said.</p>



<p>In a separate interview with TV channel Antena 3, the minister said the country was preparing a military plane to evacuate Spaniards who wanted to leave Israel.</p>



<p>Several international airlines have&nbsp;reduced or suspended&nbsp;flight services with Tel Aviv, affecting hundreds of flights.</p>



<p>IAG&nbsp;(ICAG.L)&nbsp;-owned Iberia and Vueling cancelled their flights to Tel Aviv until Sunday.</p>



<p>Air Europa, another Spanish airline, canceled a flight to Israel scheduled for Tuesday and plans to evaluate whether to resume flying from Wednesday.</p>
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		<title>Focus: How Saudis quietly built influence at Spain&#8217;s Telefonica</title>
		<link>https://millichronicle.com/2023/09/focus-how-saudis-quietly-built-influence-at-spains-telefonica.html</link>
		
		<dc:creator><![CDATA[NewsDesk MC]]></dc:creator>
		<pubDate>Fri, 08 Sep 2023 13:23:29 +0000</pubDate>
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					<description><![CDATA[Reuters STC hopes the ties with Telefonica will help it develop digital cities in Saudi Arabia, importing technological know-how from]]></description>
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<p class="has-small-font-size"><strong>Reuters</strong></p>



<blockquote class="wp-block-quote">
<p>STC hopes the ties with Telefonica will help it develop digital cities in Saudi Arabia, importing technological know-how from countries like Spain</p>
</blockquote>



<p>Jose Maria Alvarez-Pallete, chairman and chief executive of debt laden Spanish telephone and internet service company Telefonica, got an unexpected call this week when he was in Silicon Valley to meet companies and investors in America&#8217;s tech capital.</p>



<p>He learned Saudi Arabia&#8217;s largest telecoms operator, STC Group, aimed to be Telefonica&#8217;s biggest shareholder, with an interest of 9.9%. Within hours of Tuesday&#8217;s call, Alvarez-Pallete was en route to Riyadh, according to people with knowledge of the situation.</p>



<p>STC had spent months building its 2.1 billion-euro ($2.25 billion) stake, said the people, requesting anonymity because of the sensitivity of the matter. The move is a vote of confidence in Telefonica, burdened by billions of dollars in debt while STC gains expertise to modernize Saudi telecoms infrastructure.</p>



<p>But some in Spain worry the deal could give Saudi Arabia too much sway over the country&#8217;s telecom and internet infrastructure.</p>



<p>STC is 64% owned by Saudi Arabia&#8217;s Public Investment Fund (PIF), the main engine of Crown Prince Mohammed bin Salman&#8217;s Vision 2030 effort to build stakes in a variety of global companies and wean the Saudi economy off its dependence on the oil that made it one of the world&#8217;s richest nations.</p>



<p>STC hopes the ties with Telefonica will help it develop digital cities in Saudi Arabia, importing technological know-how from countries like Spain, according to a person who had advised the company. For Telefonica, whose market value has sunk to a third of its level eight years ago, the investment offers long-suffering shareholders some respite.</p>



<p>As Telefonica&#8217;s rivals slashed prices to attract internet users, the Spanish company also borrowed to invest in new mobile and internet networks. Exacerbating the problems, Telefonica has expanded in Latin America, where flagging local currencies, tighter regulation and competition sapped profit in the last decade.</p>



<p>&#8220;This provides a much needed boost for Telefonica given the huge investment to rollout fibre broadband 5G in key core markets,&#8221; said an analyst at PP Foresight.</p>



<p>The new investor &#8220;brings confidence and value,&#8221; Telefonica&#8217;s main trade union UGT conceded on Thursday, but it worried about growing influence of sovereign funds from theocracies.</p>



<p>Telefonica does not view STC as an aggressive investor that will seek management changes, according to a person with knowledge of the management&#8217;s thinking.</p>



<p>But the secrecy with which STC&nbsp;(7010.SE)&nbsp;built its stake did catch some observers off guard, the person said.</p>



<p>Speculation about a major new shareholder at Telefonica had been mounting. Last year, Telefonica management twice met with other companies and funds in the Middle East, said the people familiar with the matter.</p>



<p>Telefonica said it was informed Tuesday about STC&#8217;S investment, after the companies had become more acquainted in recent months. In February, they sealed a strategic partnership to work in fields such as cybersecurity and the metaverse.</p>



<p>By May, STC had hired advisers, including investment bank Morgan Stanley and law firm Linklaters, and started buying Telefonica shares on the market, said two other sources with knowledge of the move.</p>



<p>When the stake neared 3%, STC paused stock purchases to avoid having to make an official market disclosure, one of the people said. STC sought to keep the stake under wraps until it could buy at least 9.9% of Telefonica, the person said.</p>



<p>On Tuesday, STC hit that target, after acquiring an additional 2% stake from undisclosed investors, one of the people said. The balance, 5%, consists of derivatives arranged by Morgan Stanley, and is pending regulatory approval by the Spanish government, they said.</p>



<p>Central to the deal is STC&#8217;s chief investment officer, Motaz Al Angari, formerly a banker at Morgan Stanley, one person with knowledge of the situation said. STC confirmed his involvement. While at the bank, Al Angari advised on giant Saudi Aramco&#8217;s record public listing.</p>



<p>Officials for STC declined to comment further. Morgan Stanley and Linklaters declined to comment. Telefonica said: &#8220;Our management, strategy and investment teams travel regularly to meet with potential investors, not only in the Middle East, but all over the world.&#8221;</p>



<p>In a bid to pare debt, Telefonica has sold swathes of telecoms infrastructure, and is set to present a new strategic plan on Nov. 8 with a focus on growing free cash flow, which its CEO has said could reach 4 billion euros this year.</p>



<p>STC has a cash pile of 22.4 billion riyals ($6 billion) that has been underutilised for many years, equity analysts at EFG Hermes said in a note to clients, so the deal should also be good for the Saudi company. However they warned &#8220;unsuccessful deals&#8221; by STC in the past may worry some.</p>



<p>Since the news on Tuesday, Telefonica shares gained 2.4% while STC fell 1.1%.</p>



<p>Middle Eastern investors have been taking stakes in Spanish companies for some time. The United Arab Emirates&#8217; Mubadala sovereign wealth fund owns stakes in oil company Cepsa and gas pipeline operator Enagas, while Qatar&#8217;s QIA is a shareholder in Iberdrola.</p>



<p>It is a delicate issue in Spain. STC contacted the Spanish government on Tuesday to let them know about the stake and that they did not want to take control, Spain&#8217;s acting Economy Minister Nadia Calvino said.</p>



<p>&#8220;We will apply all the means at our disposal in the interests of defending our strategic interests,&#8221; she told reporters.</p>



<p>The deal comes at an opportune moment for Saudi Arabia, which soon hosts its annual financial conference attended by the world&#8217;s top bankers and billionaires, dubbed &#8216;Davos in the Desert&#8217;.</p>



<p>&#8220;They want their local champions to become global players,&#8221; said a Gulf banker. &#8220;With time they will become as important as a Vodafone or Telefonica itself.&#8221;</p>
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		<title>Spain scrutinising Saudi stake in &#8216;strategic&#8217; Telefonica</title>
		<link>https://millichronicle.com/2023/09/spain-scrutinising-saudi-stake-in-strategic-telefonica.html</link>
		
		<dc:creator><![CDATA[NewsDesk MC]]></dc:creator>
		<pubDate>Wed, 06 Sep 2023 17:57:20 +0000</pubDate>
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		<guid isPermaLink="false">https://millichronicle.com/?p=45109</guid>

					<description><![CDATA[Madrid (Reuters) &#8211; Spain is analysing Saudi Arabian group STC&#8217;s purchase of a 9.9% stake in Telefonica&#160;(TEF.MC)&#160;to ensure its strategic]]></description>
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<p><strong>Madrid (Reuters) &#8211;</strong> Spain is analysing Saudi Arabian group STC&#8217;s purchase of a 9.9% stake in Telefonica&nbsp;(TEF.MC)&nbsp;to ensure its strategic interests are defended, acting economy minister Nadia Calvino said on Wednesday, signalling a potential hurdle.</p>



<p>STC had contacted the Spanish government on Tuesday to inform it of the deal, which would make STC the Spanish telecom&#8217;s largest shareholder, Calvino said in Brussels.</p>



<p>&#8220;Telefonica is a strategic company for our country and as government we will apply all the mechanisms that are necessary to prioritise the defence of our strategic interests,&#8221; Calvino told reporters when asked about STC&#8217;s move.</p>



<p>STC&nbsp;(7010.SE)&nbsp;is Saudi Arabia&#8217;s largest telecoms operator and is 64% owned by Saudi Arabia&#8217;s Public Investment Fund (PIF), the main engine of Crown Prince Mohammed bin Salman&#8217;s Vision 2030 to wean the economy off its dependence on oil.</p>



<p>In a bid to protect companies whose value had plummeted since the COVID-19 pandemic from hostile takeovers, the Spanish government has had the power to block acquisitions of stakes of 10% or larger in listed companies by entities from outside the European Union and European Free Trade Association.</p>



<p>Calvino said Madrid was analysing the application of the relevant defence mechanisms, the sector, its relation with Spain&#8217;s security and defence of Spain, STC&#8217;s shareholding, the exercise of voting rights and the participation in the board or other decision-making bodies of the company.</p>



<p>&#8220;Fortunately, since we arrived in government we have reinforced the mechanisms for protecting our strategic interests,&#8221; Calvino added.</p>



<p>The threshold at which the government can intervene was recently lowered to 5% for companies related to defence.</p>



<p>Telefonica is listed as a defence provider on government&nbsp;websites, supplying &#8220;systems and equipment&#8221; to the army and satellite services to the defence ministry&#8217;s aerospace arm.</p>



<p>The government must ensure the decision-making of a company that handles sensitive data remains in Spain, acting Labour Minister Yolanda Diaz said on social media platform X, formerly known as Twitter.</p>



<p>STC said on Tuesday evening it had built up a 9.9% stake in Telefonica worth 2.1 billion euros ($2.25 billion).</p>



<p>Telefonica, whose shares were 2% up on Wednesday on the Madrid stock exchange while the blue-chip index Ibex-35&nbsp;(.IBEX)&nbsp;was down 0.4%, said it was informed of STC&#8217;s investment on Tuesday, describing it as &#8220;friendly&#8221;.</p>



<p>STC&#8217;s holding consists of 4.9% of Telefonica&#8217;s shares and financial instruments that give it another 5% in so-called economic exposure to the company.</p>



<p>STC said it plans to secure voting rights for that 5% interest held through financial instruments after receiving regulatory approvals.</p>
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		<title>Riyadh Air, Spain&#8217;s Atlético de Madrid announce multi-year partnership</title>
		<link>https://millichronicle.com/2023/08/riyadh-air-spains-atletico-de-madrid-announce-multi-year-partnership.html</link>
		
		<dc:creator><![CDATA[NewsDesk MC]]></dc:creator>
		<pubDate>Fri, 11 Aug 2023 20:57:45 +0000</pubDate>
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		<guid isPermaLink="false">https://millichronicle.com/?p=43267</guid>

					<description><![CDATA[Dubai (Reuters) &#8211; New Saudi Arabian airline Riyadh Air and Spanish soccer club Atlético de Madrid announced a multi-year sponsorship]]></description>
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<p><strong>Dubai (Reuters) &#8211;</strong> New Saudi Arabian airline Riyadh Air and Spanish soccer club Atlético de Madrid announced a multi-year sponsorship agreement in a joint statement on Thursday.</p>



<p>As part of the deal, Riyadh Air will become the main sponsor of the Spanish club.</p>



<p>&#8220;This partnership means a great opportunity to offer better experiences to our fans around the world and I am confident that this alliance with Riyadh Air will take our club to new heights,&#8221; Atlético de Madrid CEO Miguel Ángel Gil said in the statement.</p>



<p>The statement cited Riyadh Air&#8217;s Chief Executive Tony Douglas as saying &#8220;with this agreement we are once again surprising the world as we move towards our inaugural flight in 2025.&#8221;</p>



<p>The statement did not give the value of the sponsorship deal.</p>
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