Sol Times Newspaper Issue 149 Costa Blanca Edition

Page 18

18

...remember to say you saw it in the SOL TIMES

SOLTIMES OCTOBER 2010

Mull of Kintyre song estate on sale for £3m Premier Systems, Cable & Satellite TV Installers, long established SL Company on Costa Blanca. Installing systems from Alicante to Murcia and inland. We have many years experience gained in companies such as Sky, NTL and Cable & Wireless. We are a long term member of Business Group España S.C., Costa Blanca´s premier networking group consisting of legally registered businesses promoting only registered businesses in Spain. As Authorised installers we provide re-broadcast TV via the Torresat TV system at very competitive prices. We supply and install stand alone and direct freed satellite systems to Domestic users, bars and Communities. This covers all types of systems; English, German, Dutch etc.

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A Scottish estate made famous by Sir Paul McCartney’s song Mull of Kintyre is up for sale at almost £3 million. The 7,360-acre Carskiey Estate forms the Mull of Kintyre, which Kintyre resident McCartney sang about with his band of the time Wings in the 1977 hit song. Now the estate, which includes the Edwardian Carskiey House and nine miles of coastline, has been put on the market by estate agents Strutt & Parker at offers over £2.95 million, according to a report in Scotland on Sunday. McCartney once said of the lyrics: ‘’I certainly loved Scotland enough, so I came up with a song about where we were living; an area called Mull of Kintyre. It was a love song really, about how I enjoyed being there and imagining I was travelling away and wanting to get back there.’’ The Carskey Estate, as it was originally called, was the former seat of the MacNeills of Carskey from the early 16th century until it was bought and upgraded in the early 1900s. Overlooking Carskey Bay, the nine-bedroom house, which has been described as a ‘’wonder of Edwardian design’’, has been relatively untouched since it was first

built except for being rewired in 1989. Among the features of note is the Edwardian equivalent of a spa, a hydropathic bathroom with a ‘’ship’s deck’’ floor and shower hoses for fresh and salt water, although it no longer works. The sale also includes nine estate houses and cottages in varying states of repair and a farming business. The estate has nine miles of coastline and sandy beaches including the crescent-shaped Carskey Bay. Described as a residential, agricultural, sporting and amenity estate it is home to a wide variety of bird life and animals with red and roe deer, wild goats, grouse and eagles all populating the estate which rises from the sea to a peak of 1,400ft. Andrew Smith, a partner at Strutt & Parker, said: ‘’Carskiey is a magical place where you can truly get away from the stress and strains of everyday life and enjoy the stunning scenery that the Mull of Kintyre offers.’’

Pound Rises Above $1.60 for First Time Since February as BOE Holds Rates Market Commentary 8th October 2010 The pound rose against the dollar to its highest level in eight months after the Bank of England left interest rates at a record low yesterday and refrained from increasing its bond-buying program to stimulate the economy. Sterling also rebounded from near its weakest level since May against the Euro. The BOE held the main rate at 0.5 percent, in line with the forecasts of most market analysts. The pound climbed as much as 0.8 percent after the decision, breaking above $1.6 for the first time since Feb. Sterling also strengthened to 1.1447, after earlier depreciating to 1.1361, the weakest level since May. The European Central Bank has also left its main interest rate unchanged at the record low of 1 per cent for the 17th consecutive month as it attempts to keep the eurozone on a recovery path.

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The decision, taken at a meeting in Frankfurt on Thursday of the ECB’s 22-strong governing council, was expected but came at a crucial moment for the euro’s monetary guardian. With the US and UK central banks mulling further “quantitative easing” steps to boost economic growth, the ECB’s more optimistic stance has pushed the euro sharply higher. “It is more important than ever that exchange rates reflect economic fundamentals and excessive volatility of such rates is best avoided”, European Central Bank President Jean-Claude Trichet said yesterday. The ECB and European governments have shown little sign of action to cap recent gains for the euro, in contrast to policies in Japan, China and the United States which have led to warnings of a ‘currency war’ of competitive devaluations. The euro is trading at an eight-month high against the U.S. dollar and has gained nine percent since the ECB’s last meeting in September. It is up almost 18 percent from a four-year low hit in June. Low interest rates in Europe and Japan and

expectations that the U.S. Federal Reserve is about to embark on another round of money printing that could weaken the dollar have pushed currencies to the top of the agenda for the gathering of finance chiefs from the G7 group of rich nations. “We will have an occasion to exchange views on that (currencies) with in particular the authorities, the central bank governors and the ministers of finance, of the major floating currencies in Washington,” Trichet said. Earlier on Thursday, Germany provided further evidence that its economic recovery remains firmly on track, reporting an unexpectedly-sharp 1.7 per cent rise in industrial production in August, compared with the previous month. Earlier this week, the German economics ministry had reported an even-stronger 3.4 per cent rise in industrial orders in August. The ECB’s main interest rate is not expected to rise until well into 2011. But the ECB could announce in December that from next year it will return to a system of auctioning liquidity it provides to the financial system – instead of matching banks’ demands in full. That would mark a step back to its pre-crisis operational system. The strength of the eurozone’s economic recovery is not the only factor the ECB will have to consider. Some weaker eurozone banks – especially in the “peripheral” countries – remain “addicted” to ECB liquidity. Mr. Trichet has urged national authorities to take action to strengthen such banks, but the ECB is also considering whether there are steps it could take itself to wean off the most dependent banks. The contents of this report are for information purposes only. It is not intended as a recommendation to trade or a solicitation for funds. Currencies Direct cannot be held responsible for any loss or damages arising from any action taken following consideration of this information . Information provided by Currencies Direct, leading providers of foreign exchange. Call to find out how we can help you get the best rates and save your transfer fees. Contact the Mojácar office on 950 478 914 or 0871 218 5001 from the UK or email almeria@currenciesdirect.com


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