Police in Spain have discovered Europe's first narco-submarine following a number of raids linked to cocaine smuggling.
The half-submersible vessel was seized in Malaga during an operation to target a large scale drugs trafficking ring.
Six countries including Britain and the US took part in Operation Ferro which involved more than 300 police officers.
Almost 50 raids were carried out in the Spanish cities of Malaga and Barcelona, as well as in Tarragona, Gerona, Castellón, Valencia, Murcia, Cádiz, Granada and Badajoz.
The raids led to 52 arrests, the seizure of the narco-submarine in Malaga and a €300,000 ($358,440) speedboat in Murcia.
Police also recovered more than three tonnes of cocaine, 700 kilos of hashish and over €100,000 in cash.
"Investigators identified an organised crime group, composed of Spanish, Colombian and Dominican nationals, involved in large-scale trafficking of cocaine, hashish and marijuana," Europol said in a statement.
"The criminals were operating from Spain, specifically Cataluña. Between April and December 2020, a number of important cocaine seizures linked to this criminal group were made in Colombia. A total of 2,900 kilos of cocaine was seized."
Last November, Spanish police officers arrested the alleged ringleader of the criminal network in Tarragona and 13 of his alleged accomplices, which led to a number of raids this year to target another branch of the group.
During the house searches in Málaga, the half-submersible vessel was found in a warehouse.
The boat, which is the first ever of its kind seized on European soil, was still in construction when it was found.
The craft was nine metres long and would have been able to transport up to two tonnes of drugs.
"Similar vessels captured in the past have always been of Latin American manufacture," Europol said.
As part of the operation, four people were arrested in Tarragona and a shipment of 583 kilos of hashish on its way to France and Italy was seized.
"One of the main targets was arrested at the El Prat airport in Barcelona as he was trying to flee to the Netherlands," Europol said.
"As a result of this arrest, a warehouse was searched in Barcelona which led to the seizure of 300 kilos of cocaine.
"A clandestine drug laboratory was discovered in Barcelona next to an indoor cannabis plantation with over 1,150 plants. Some 6,000 litres of drug precursors were also seized, destined for the laboratory in Murcia.
"A 15-metre long speedboat belonging to this criminal network and loaded with 7,000 litres of gasoline was also seized in the region of Murcia."
Spanish Police and Europol were supported in the operation by the National Police of Colombia, the Dutch National Police, the Portuguese Judicial Police, the UK's National Crime Agency and US Customs and Border Protection.
The operation was co-ordinated by Europol's EU Drugs Unit and its team of specialists facilitated the exchange of information between the different countries involved, analysing the operational data to identify the main targets.
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How to invest in gold
Investors can tap into the gold price by purchasing physical jewellery, coins and even gold bars, but these need to be stored safely and possibly insured.
A cheaper and more straightforward way to benefit from gold price growth is to buy an exchange-traded fund (ETF).
Most advisers suggest sticking to “physical” ETFs. These hold actual gold bullion, bars and coins in a vault on investors’ behalf. Others do not hold gold but use derivatives to track the price instead, adding an extra layer of risk. The two biggest physical gold ETFs are SPDR Gold Trust and iShares Gold Trust.
Another way to invest in gold’s success is to buy gold mining stocks, but Mr Gravier says this brings added risks and can be more volatile. “They have a serious downside potential should the price consolidate.”
Mr Kyprianou says gold and gold miners are two different asset classes. “One is a commodity and the other is a company stock, which means they behave differently.”
Mining companies are a business, susceptible to other market forces, such as worker availability, health and safety, strikes, debt levels, and so on. “These have nothing to do with gold at all. It means that some companies will survive, others won’t.”
By contrast, when gold is mined, it just sits in a vault. “It doesn’t even rust, which means it retains its value,” Mr Kyprianou says.
You may already have exposure to gold miners in your portfolio, say, through an international ETF or actively managed mutual fund.
You could spread this risk with an actively managed fund that invests in a spread of gold miners, with the best known being BlackRock Gold & General. It is up an incredible 55 per cent over the past year, and 240 per cent over five years. As always, past performance is no guide to the future.
Global Fungi Facts
• Scientists estimate there could be as many as 3 million fungal species globally
• Only about 160,000 have been officially described leaving around 90% undiscovered
• Fungi account for roughly 90% of Earth's unknown biodiversity
• Forest fungi help tackle climate change, absorbing up to 36% of global fossil fuel emissions annually and storing around 5 billion tonnes of carbon in the planet's topsoil
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The 12 breakaway clubs
England
Arsenal, Chelsea, Liverpool, Manchester City, Manchester United, Tottenham Hotspur
Italy
AC Milan, Inter Milan, Juventus
Spain
Atletico Madrid, Barcelona, Real Madrid
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UAE currency: the story behind the money in your pockets
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Director: Alfonso Cuaron
Stars: Cate Blanchett, Kevin Kline, Lesley Manville
Rating: 4/5
Killing of Qassem Suleimani
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How to improve Arabic reading in early years
One 45-minute class per week in Standard Arabic is not sufficient
The goal should be for grade 1 and 2 students to become fluent readers
Subjects like technology, social studies, science can be taught in later grades
Grade 1 curricula should include oral instruction in Standard Arabic
First graders must regularly practice individual letters and combinations
Time should be slotted in class to read longer passages in early grades
Improve the appearance of textbooks
Revision of curriculum should be undertaken as per research findings
Conjugations of most common verb forms should be taught
Systematic learning of Standard Arabic grammar
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Company: Instabug
Founded: 2013
Based: Egypt, Cairo
Sector: IT
Employees: 100
Stage: Series A
Investors: Flat6Labs, Accel, Y Combinator and angel investors
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Match info
Bournemouth 0
Liverpool 4 (Salah 25', 48', 76', Cook 68' OG)
Man of the match: Andrew Robertson (Liverpool)
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
