EUROPE

SPANISH GOVERNMENT UNVEILS RADICAL HOUSING REFORM TO CURB FOREIGN INVESTMENT

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In an attempt address Spain's mounting housing crisis, Prime Minister Pedro Sánchez has announced sweeping reforms aimed at limiting foreign property speculation and protecting local residents' access to affordable housing. The most striking measure is a proposed 100% tax on property purchases by non-EU citizens without Spanish residency, effectively doubling the cost for British buyers and other non-EU nationals.

TURKEY LOWERS INTEREST RATE TO 47.5 PERCENT

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Turkey's central bank implemented its first interest rate cut in almost two years on Thursday, lowering the key rate from 50% to 47.5% amidst ongoing double-digit inflation. The monetary policy committee cited improved "inflation expectations and pricing behavior" as reasons for the reduction, which is the first since February 2023.

STERLING POUND FALLS TO ITS LOWEST IN OVER A YEAR

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The pound has fallen to its lowest level in over a year, while UK borrowing costs have surged to their highest for 16 years. The pound fell by 0.9% to $1.226 against the dollar on Thursday and borrowing costs rose further.

A PLANE CRASH KILLS DOZENS IN KAZAKHSTAN, SURVIVORS PULLED FROM WRECKAGE

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A tragic plane crash has unfolded near Aktau, Kazakhstan, on Wednesday, when an Azerbaijan Airlines Embraer 190 jet carrying 62 passengers and five crew members plummeted during an emergency landing. Initial reports confirm at least 32 survivors, with several critically injured and receiving urgent medical care. Tragically, both pilots are believed to have perished in the crash.

SPANISH PM WARNS OF FASCISM AMID MUSK'S ATTACK ON EUROPE

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Elon Musk, owner of X and an ally of US President-elect Donald Trump, has sparked outrage across Europe with his attacks on the continent's leaders. Spanish Prime Minister Pedro Sanchez responded Wednesday, warning that Musk's "open attacks on our institutions" and "stirring up hatred" could lead to a return of fascism. The criticism comes as Musk is slated to take on a role in Trump’s administration.

RUSSIA LAUNCHES 'INHUMANE' CHRISTMAS MISSILE ATTACKS ON UKRAINE

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Amid festive celebrations worldwide, Ukraine faced another harsh chapter in its ongoing conflict with Russia. A ballistic missile struck a residential block in Kryvyi Rih, President Volodymyr Zelensky's hometown, killing one person and injuring 15. This tragedy highlights the relentless attacks Ukrainians endure even during the holiday season.

EUROPE SHUTS DOWN RUSSIAN GAS PIPELINE THROUGH UKRAINE

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The long-standing transit of Russian gas to Europe via Ukraine concluded on January 1, marking a historic shift in energy dynamics. This development follows decades of reliance on the pipeline, which had once served as a cornerstone of European energy security. The collapse of the agreement, amidst ongoing hostilities between Russia and Ukraine, underscores the shifting priorities of both nations and the European Union (EU).

KING CHARLES HOLDS PRIVATE MEETING WITH KATE MIDDLETON AS PALACE PLANS FOR SMOOTH ASCENSION

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Buckingham Palace has reportedly begun planning Prince William's ascension to the throne. Sources indicate King Charles III, at 76, has been actively involved in discussions to ensure a seamless transition for his son and daughter-in-law, Princess Catherine. This proactive approach follows a challenging year for the monarch, marked by his cancer diagnosis in February and Middleton's own health battle revealed a month later.