The Royal Academy of Spanish Language (RAE), the organization that defines the Spanish language standards, introduced spelling changes which came into effect on the 1st of January 2011. 

The new rules include:

New names for the letters B, V and Y, unique for all Spanish-speaking countries

B becomes be (it should no longer be called "be larga" in America).
V becomes uve ("be corta" disappears) and y becomes ye instead of i griega.

"ch" and "ll" are no longer considered separate letters of the alphabet

This brings the number of letters in the alphabet to 27, i.e. the 26 of the English alphabet, plus ñ.

Orthographic accents can be dropped

Writers may choose whether the word "sólo" used as an adverb, as well as demonstrative pronouns such as "éste" or "ésa" carry an accent.

The "q", used to represent the phoneme "k" is dropped

As a consequence, Iraq will now be written as "Irak" and Qatar as "Catar".
Also, quórum becomes cuórum.

Prefixes such as "ex" and "anti" are now attached to the word they precede

For example, in "exmarido", and "expresidente".
But prefixes will continue to be written with a space when they precede two words, as in the case of "pro derechos humanos".

Some words become monosyllabic, and are no longer accented

Examples of such words are: guión, Sión, and truhán.

The accent on the conjunction "o" between numbers can now be omitted.

Languages are living organisms ... that is what makes translation so exciting!