logo
Booking.com deletes 4,000+ listings amid Spain's rental crackdown

Booking.com deletes 4,000+ listings amid Spain's rental crackdown

First Post4 hours ago

Spain's tourism growth has supported the national economy but has also raised concerns over housing availability and affordability, issues that remain a key focus for the current coalition government. read more
A general view shows tourists dance inside a discotheque near Playa d'en Bossa beach, during a housing crisis that many locals blame on overtourism in Ibiza, Spain. Reuters
Booking.com, a major online hotel booking platform, announced on Friday that it had removed thousands of listings in Spain following a request from the country's consumer ministry. The move comes as part of the government's ongoing efforts to regulate short-term tourist rentals.
Spain's tourism growth has supported the national economy but has also raised concerns over housing availability and affordability, issues that remain a key focus for the current coalition government.
In a statement, Booking.com said it had taken down a limited number of listings for not providing valid licences, as requested by the ministry.
STORY CONTINUES BELOW THIS AD
The Amsterdam-based company noted that the removed listings accounted for 'less than two percent' of its 200,000 properties in Spain, and emphasized its continued cooperation with authorities to regulate the sector.
On Thursday, the consumer rights ministry reported that 4,093 non-compliant listings had been removed, with most located in the Canary Islands, a popular tourist region.
Spain has also ordered online tourist accommodation giant Airbnb to take down more than 65,000 adverts for violating licence rules and has been in a legal battle with the US-based company.
The world's second most-visited country hosted a record 94 million foreign tourists in 2024, but residents of hotspots such as Barcelona blame short-term rentals for the housing crisis and changing their neighbourhoods.
'We're making progress in the fight against a speculative model that expels people from their neighbourhoods and violates the right to a home,' far-left consumer rights minister Pablo Bustinduy wrote on social network Bluesky.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Virat Kohli makes BIG move after Test retirement, star India batter will be...
Virat Kohli makes BIG move after Test retirement, star India batter will be...

India.com

time28 minutes ago

  • India.com

Virat Kohli makes BIG move after Test retirement, star India batter will be...

In these collection of pictures, we find out all about the major decision taken by star India batter Virat Kohli after announcing his Test retirement last month. Star India batter Virat Kohli announced his Test retirement last month. Kohli scored 9230 runs in 123 Tests with 30 centuries. Team India's star batter Virat Kohli has made a big investment in a company. He has invested Rs 40 crore in a sports equipment manufacturing company. He will invest more in this company. Apart from this, Kohli will also be its brand ambassador. This investment by Virat will not only increase the brand value of the company, but will also take the sales and market valuation forward. Although no official response has come from Virat Kohli and Agilitas company in this matter yet, but it is certain that Virat Kohli has started another new innings. Virat Kohli has made a huge investment of Rs 40 crore in Agilitas. This is a sports goods manufacturing company. This company was started two years ago by former Puma India head Abhishek Ganguly. Abhishek has a very old relationship with Virat Kohli. As the India head of Puma India, Ganguly played an important role in bringing Kohli as the brand ambassador of the company. In 2017, Virat Kohli signed a contract of Rs 110 crore with Puma, this contract was till 2025. This year Puma again tried to contract Virat Kohli for Rs 300 crore, but Virat refused and joined Agilitas. Apart from Virat, former cricketer Yuvraj Singh has also invested in this company. The company has raised about Rs 600 crore from several investors in less than two years. According to reports, in his new role, Virat Kohli will not only be a brand ambassador but will also play the role of owner in the Bengaluru-based firm. Virat Kohli has been given around 3.6 lakh Class 2 Compulsorily Convertible Preference Shares (CCPS) in Agilitas. These will later be converted into equity shares. According to reports, this investment is only part of the first phase. This legendary batsman of Team India will invest money in the company in future as well. Agilitas plans to build a sports chain across the country. It will include everything from manufacturing to retail. In the year 2023, Agilitas acquired Mochico Shoes. This company manufactures shoes for brands like Adidas, Puma, New Balance, Skechers, Reebok, Asics, Crocs, Decathlon, Clarks and US Polo.

India reports current account surplus of $13.5 billion in Q4 FY25
India reports current account surplus of $13.5 billion in Q4 FY25

The Hindu

time28 minutes ago

  • The Hindu

India reports current account surplus of $13.5 billion in Q4 FY25

India's current account balance recorded a surplus of $ 13.5 billion (1.3% of GDP) in Q4 FY25 as compared with $4.6 billion (0.5% of GDP) a year earlier and against a deficit of $11.3 billion (1.1% of GDP) in Q3 FY25, according to data released by the Reserve Bank of India (RBI) on Friday. Merchandise trade deficit at $59.5 billion in Q4 FY25 was higher than $52 billion in Q4 FY24. However, it moderated from $79.3 billion in Q3 FY25 data showed. Net services receipts increased to $53.3 billion in Q4 FY25 from $42.7 billion a year ago. Services exports have risen YoY in major categories such as business services and computer services. Net outgo on the primary income account, primarily reflecting payments of investment income, moderated to $11.9 billion in Q4 FY25 from $14.8 billion in the previous year. As per RBI data personal transfer receipts, mainly representing remittances by Indians employed overseas, rose to $33.9 billion in Q4 FY25 from $31.3 billion in the same period last year. In the financial account, foreign direct investment (FDI) recorded a net inflow of $0.4 billion as compared with an inflow of $2.3 billion in same period last year. Foreign portfolio investment (FPI) recorded a net outflow of $5.9 billion in Q4 FY25 as against a net inflow of $11.4 billion a year ago. Net inflows under external commercial borrowings (ECBs) to India amounted to $7.4 billion in in the quarter, as compared to $ 2.6 billion in the same period a year ago. Non-resident deposits (NRI deposits) recorded a net inflow of $ 2.8 billion, lower than $ 5.4 billion a year ago. There was an accretion of $ 8.8 billion to the foreign exchange reserves (on a BoP basis) in Q4:FY25 as compared to an accretion of $ 30.8 billion a year ago. India's current account deficit at $ 23.3 billion (0.6% of GDP) during FY25 was lower than $ 26 billion (0.7% of GDP) during FY24 primarily due to higher net invisibles receipts. Net invisibles receipts were higher during FY25 than a year ago on account of services and personal transfers. Net inflow under FDI at $ 1 billion during FY25 was lower than $10.2 billion a year ago. During FY25, FPI recorded a net inflow of $ 3.6 billion, lower than $44.1 billion a year ago. There was a depletion of US$ 5 billion in the foreign exchange reserves (on a BoP basis) during FY25. Aditi Nayar, Chief Economist & Head - Research & Outreach, ICRA Ltd said, 'While the current account balance expectedly reported a seasonal surplus in Q4FY25, the size of the same overshot our expectations, amid a surprise dip in primary income outflows in the quarter. This led to the unexpected narrowing in the CAD to 0.6% of GDP in FY25 from 0.7% in FY24.' 'Amid expectations of a widening in the merchandise trade deficit as well as a moderation in the services trade surplus in Q1 FY26 vis-à-vis Q4 FY25, we expect the current account to revert to a deficit in the ongoing quarter, printing at 1.3% of GDP. We foresee India's current account deficit to average 1% of GDP in FY26, assuming an average crude oil price of $70/barrel for the fiscal, which is eminently manageable in spite of the prevailing global uncertainties,' she said. Rajani Sinha, Chief Economist, CareEdge Ratings said, 'India's full-year current account deficit was contained at 0.6% of GDP in FY25 aided by upbeat services trade surplus and transfers offsetting the impact of a higher merchandise trade deficit. Exports of software and business services remained the bright spots logging double-digit growth. The capital account inflows narrowed significantly, weighed by subdued net FDI and FPI inflows as well as banking capital outflows.' 'Looking ahead, the volatile global economic environment is likely to pose a headwind for the external demand scenario. We expect India's merchandise exports to contract by 3% in FY26 mainly due to sharper contraction in petroleum exports on expectation of lower crude oil prices,' she said. 'However, non-petroleum exports are expected to contract only marginally by 0.8%. We project oil prices to average at USD 67 per barrel in FY26. The non-petroleum imports are likely to hold up well, supported by sustained domestic economic momentum. Services exports are projected to remain resilient, registering 8% growth, though with some moderation,' she added. 'Overall, upbeat services trade surplus and healthy remittances are likely to remain supportive of the current account position. Given this background, we project the current account deficit to be at 0.9% of GDP in FY26,' she further said.

Shadowfax eyes  ₹2,500 crore IPO, confidential filing with SEBI expected next week: Details here
Shadowfax eyes  ₹2,500 crore IPO, confidential filing with SEBI expected next week: Details here

Mint

timean hour ago

  • Mint

Shadowfax eyes ₹2,500 crore IPO, confidential filing with SEBI expected next week: Details here

Shadowfax, a TPG-backed logistics service provider, is reportedly getting ready to file draft papers with capital market regulator Sebi for its initial public offering (IPO) through the confidential route early next week. The company aims to raise up to ₹2,500 crore, according to a Reuters report. The confidential pre-filing route allows a company to withhold public disclosure of details under the draft red herring prospectus (DRHP) until later stages. IPO details and valuation According to Reuters, the IPO of Shadowfax is expected to be in the range of ₹2,000-2,500 crore, comprising a mix of fresh issue of shares and offer for sale (OFS) by existing shareholders The company is also projected to be valued around ₹8,500 crore post-IPO. Shadowfax to boost network The company plans to use the funds from the fresh issue towards increasing capacity, driving further growth, and making additional investments in the company's network business, as per the sources. In February this year, the company had raised funds at an approximate valuation of ₹6,000 crore. Investor backing and business focus Bengaluru-based Shadowfax was founded in 2015 by IIT Delhi alumni Abhishek Bansal, Vaibhav Khandelwal, Praharsh Chandra, and Gaurav Jaithliya. The company is a leading logistics service provider for e-commerce express parcels and other value-added services. Shadowfax is backed by a strong roster of investors, including Flipkart, TPG, Eight Roads Ventures, Mirae Asset Ventures, and Nokia Growth Funds. Also Read | 24 IPOs mobilise ₹9500 crore in June as primary market activity picks up The e-commerce segment is the major revenue contributor, accounting for around 75 per cent of the business, and the remaining comes from quick commerce and hyperlocal deliveries, the news agency said. Market presence The logistics company's robust distribution network covers over 2,200 cities and more than 14,300 PIN codes, solidifying its position as a market leader in the industry.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store