CB Richard Ellis -has recently said that it has advised a confidential purchaser on the acquirement of two Spanish logistics properties of 20,468 square meters and 14,501 square meters for €29 million.

This is going to be the biggest logistics agreement finalized in the Spanish market since 2007. The properties, located on the South M-50 Industrial Estate, Leganés, near Madrid, were sold by a Luxemburg-based investment fund.

Spain’s largest utility Iberdrola (IBE. MC) has recently released in a report that it has managed to generate 15.4 percent more electricity in the first quarter of this year from the same period last year, mainly due to growth in hydropower.

According to the statement released by the company, it had generated 42,454 gigawatt-hours of electricity all over the world in the first three months of this year, of which hydropower totaled for 20.8 percent and which had increased by 135.1 percent, year-on-year.

The Unlisted Spanish cable company ONO has recently announced that it had completed the refinancing of a 3.5 billion euro ($4.76 billion) syndicated loan, delaying significant debt repayments until 2013.

Moreover, ONO, which had been negotiating with creditor banks since the starting of the year, stated that the new conditions on the loan include a 125 basis points growth over the margin of committed payments.

Motorola Company has recently announced that is will launch Motorola Milestone in Spain at the end of March this year.

The announcement was made by the company in the Mobile World Congress in Spain. Moreover, the device will be available SIM-free starting from the end of March 2010, which means that they still have to look for a carrier partner.

In the meantime, no further information was provided by the company about the cost of the new device.

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.

Clearwire Corp. introduced its commercial WiMAX services in Malaga, Spain. The wireless services are provided under the brand name 'Instanet' and are the first 4G service by the operator in Europe.

According to Clearwire, instanet service is capable of providing downloading speeds of 3 Mbps to 6 Mbps depending upon the plan. The subscribers can access Clearwire's WiMax service in Malaga with or without a service contract.

AOL Inc., a New York based company and the internet company spun off from Time Warner Inc. in December, announced that it has launched a involuntary job reduction today after 1,100 workers accepted buyout packages as part of a $200 million restructuring.

Moreover, the company also plans to close its offices in Spain as well as Sweden, said Tricia Primrose, an official. Further, she said many of the affected United States workers will leave the company on January 13th.

Zurich Financial Services, on Tuesday, said that it has being transferring bulk of its general insurance portfolios in Italy, Spain and Portugal to its Ireland unit in order to rationalize its European Union business. The transfer will help in simplifying the legal structure of the company as well as in improving the capital management.

In a statement, the Swiss-based Corporation said that the carry-over of the insurance portfolios is effective as on January 1.

The Panama Canal Authority has recently announced that it has awarded a $268 million excavation agreement to a consortium including Mexico’s ICA, Spain’s FCC and Costa Rica’s Meco.

While releasing a statement, the authority said that the companies will help dig a channel linking Panama’s new Pacific locks with the narrowest part of the canal.

In a process to make way for bigger ships, Panama has decided to invest $5.25 billion during the first major expansion of the canal since it was opened in 1914.

Emirates Airline will start its non-stop direct flights from Dubai and Madrid from August 1 to create the first air services between United Arab Emirates and the popular southern European country.

With this, Emirates Airlines will fill the gap in its European network and underlines growing trade and traffic between the both nations. It will be the fourth new route for Emirates in 2010, after Tokyo, Amsterdam and Prague.