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New SEAT Ibiza gets the attention at opening of 38th Barcelona International Motor Show

ACN

The 38th edition of the Barcelona International Motor Show kicked off on Thursday, with a session dedicated to journalists and industry professionals. On the first press day of the event, 11 carmakers unveiled some of their new products. In particular, SEAT – the Barcelona-based car manufacturer which forms part of the Volkswagen group – unveiled the new 2015 models of the Ibiza and Alhambra ranges, two world firsts. The Ibiza's new model retains the exterior design of its predecessor but incorporates state-of-the-art technology to allow smartphone use while driving. The International Motor Show will open its doors to the general public on Saturday 9 May, with 38 international brands – 17 more than two years ago, marking a turning point after the darkest moments of the economic crisis.

May 8, 2015 12:10 AM

Construction begins on Ferrari’s first theme park in Europe, expanding Catalan resort PortAventura

ACN

Sebastian Vettel, Ferrari Formula One Team Driver, together with the President of the Catalan Government, Artur Mas, have set on Thursday the symbolic first stone of the company’s first theme park in Europe, which will be an expansion of PortAventura, the main amusement resort in Catalonia, located on the Costa Daurada and near Tarragona. Ferrari Land is expected to be ready by the end of 2016, after an initial investment of €100 million. It is likely to become PortAventura’s main attraction and is expected to make the Catalan holiday and amusement resort reach 5 million visitors per year. Once Ferrari Land is operational, it will employ about 150 people, in addition to PortAventura’s staff. The project also includes a 5-star hotel themed around the Ferrari brand, but this will be built during a second stage.

May 7, 2015 11:21 PM

Economic growth in Catalonia speeds up, increasing by 0.9% between January and March

ACN

The Catalan economy has now accumulated 8 consecutive quarters of economic growth, posting a 0.9% increase in GDP between January and March, according to provisional data released on Thursday by the Catalan Finance Ministry and the Catalan Statistics Institute (Idescat). Regarding inter-annual figures, the Catalan economy had grown by 2.4% by the end of the first quarter of 2015 compared to figures from the same period in 2014. These last figures confirm a strengthening of inter-annual growth, since last December it reached 1.9%, and an overall strengthening of the Catalan economy and its recovery from the crisis of the last years. The recovery of the internal demand and the continuing good performance of the export and tourism sectors are the main engines behind the positive figures from the first quarter of 2015. In addition, the industrial sector has been growing for the last 3 years and construction has started to grow again after almost 7 years of continuous decline.

May 7, 2015 09:34 PM

Catalan registered unemployment drops by 3.27% in April; largest decline in Spain and for 19 years

ACN

Official data released on Tuesday by the Spanish Employment Ministry show that both Catalonia and Spain as a whole registered the largest monthly decline in unemployment for a month of April since 1996. In particular, Catalonia closed last month with 552,974 people registered on the Catalan Public Employment Service's list, which means 18,681 fewer jobseekers in comparison with March 2015, a 3.27% drop. In annual terms, registered unemployment in Catalonia fell by 9.62% (58,848 fewer people), which is the highest percentage decline since May 2000. These figures mean that registered unemployment in Catalonia has fallen for 22 consecutive months. In Spain as a whole, at the end of April 2015 the number of people registered as unemployed stood at 4,333,016, which means 118,923 fewer jobseekers than in March, representing a 2.67%. In annual terms, registered unemployment in Spain dropped by 7.5%, as 351,285 fewer people were registered as looking for a job.

May 5, 2015 09:41 PM

Fashion retailer Desigual replaces its CEO Manel Jadraque with President Thomas Meyer

ACN

The Barcelona-based fashion company Desigual announced in a press release on Monday that Manel Jadraque is no longer the firm’s CEO, following a "mutual agreement" between the Catalan multinational and the executive. Jadraque was both the company's Chief Executive Officer and its Director General. His executive functions will be assumed by Thomas Meyer, Desigual's President and founder. According to the company, "the current challenges facing the brand encouraged this decision". Jadraque had worked for the Catalan brand for more than ten years. He will remain a member of the Board of Directors, the company has stated. Desigual’s turnover in 2014 improved by 16.2% on its 2013 results, reaching €963.5 million.

May 4, 2015 09:26 PM

Better economic growth, 2.7% in 2015 and 3% in 2016, predicts Catalan Chamber of Commerce

ACN

Barcelona's Chamber of Commerce has predicted that the Catalan economy will grow by 2.7% in 2015 and 3% in 2016. The latest estimates made by the Chamber in February foresaw a growth of 2.5% in the Catalan GDP for this year. The President of the Chamber of Commerce, Miquel Valls, said that this growth "has a lot to do with the surprising recovery of domestic demand, driven by job creation, and increased confidence in the economy." Valls also said that the depreciation of the euro and oil prices are factors that have contributed to the rise in GDP. Besides, the Spanish economy is expected to grow by 2.5% in 2015 according to the IMF or by 2.8% or 2.9% according to the Bank of Spain and the Spanish Government respectively.

April 30, 2015 09:14 PM

BBVA to close 285 branches and lay off 1,700 staff in Catalonia, after Catalunya Banc acquisition

ACN

BBVA CEO, Angel Cano, announced on Wednesday a 3-year plan to restructure the bank's presence in Catalonia after the integration of the previously nationally-owned Catalunya Banc, which was purchased last July. The bank's 'number 2' explained they will shut down 285 branches of their network in Catalonia and lay off 1,700 employees, which is 20% of the local workforce including Catalunya Banc's staff. At the end of 2014, BBVA had 639 branches of its own in Catalonia and was working on integrating the 728 branches from the recently-purchased entity. According to the new plan, 150 branches from Catalunya Banc will be closed. According to Cano, the acquisition of the Catalan bank will start bringing positive figures to the Group’s results by 2016.  Furthermore, it is strategic, since the bank will roughly double its presence in Catalonia and will add 1.5 million clients, becoming Catalonia’s second-largest financial entity.

April 29, 2015 09:09 PM

Number of mortgages increases 32% in Catalonia in February, accumulating 10 consecutive months of growth

ACN

The number of mortgages on homes in Catalonia registered a 32.4% increase in February compared to the same figure from February 2014. This annual increase strengthens an uninterrupted trend of 10 consecutive months of annual growth. This figure is particularly important taking into account that the crash of the construction and real estate sectors, as well as the lack of bank loans, were some of the main elements of the double economic crisis that affected Catalonia and the rest of Spain between 2008 and 2014. The recovery of the mortgage market is yet another indicator of a broader recovery of the real estate market and the overall economy, although its effects on some aspects of people's lives will still need time to be noticed, such as in the reduction of the high levels of unemployment.

April 28, 2015 09:46 PM

Record foreign tourist spending in Catalonia in first quarter of 2015; 12.6% increase

ACN

Foreign tourists spent a record €2.289 billion in Catalonia in the first quarter of 2015, 12.6% more than in the same period last year, according to the Tourist Expenditure Survey (EGATUR) of the Spanish Ministry of Industry, Energy and Tourism. This figure surpasses the previous records set in the first quarters of 2014 and 2013, official results published on Monday reveal. This year, the average amount spent per stay in Catalonia between January and March amounted to €854 per foreign visitor, 7% more than in 2014. The average daily spend was €142 per person during this period, 8.3% more than the first quarter of 2014. Catalonia accounted for 21.3% of foreign tourist spending in Spain during the first 3 months of 2015, while total spending by foreign tourists amounted to €10.764 billion, also a new peak.

April 27, 2015 10:04 PM

Slight unemployment increase in Catalonia, reaching 20.05% in last quarter

ACN

The number of unemployed people in Catalonia has risen by 1,500 people during the first quarter of 2015. The percentage has increased for a second consecutive period although the figures are better than a year ago. According to figures from the Spanish Government's Labour Force Survey, released on Thursday, 758,000 people are out of work in Catalonia and the unemployment rate has risen in quarterly terms. However the first quarter of 2015 has 82,100 less unemployed people than those in the same period in 2014, when the rate was 22.1%. Throughout the whole of Spain, the unemployment rate also increased since the previous quarter, reaching 23.78%.

April 23, 2015 08:38 PM

Fashion retailer Mango's sales up 9% for 2014 but profits down by 11%, to €107 million

ACN

The Catalan fashion retailer Mango closed 2014 with a profit of €107 million, 11.2% less than in 2013, when the multinational based in Greater Barcelona earned €120.5 million. However, sales last year increased by 9.3%, reaching some €2.02 billion, with 82% coming from foreign markets, and the remaining 18% from the Spanish market. Online sales turnover now accounts for 9.1% of the company's total sales. In 2014, Mango created 2,331 jobs worldwide, representing a 17% increase on 2013 figures, and 28% of those jobs were in Spain. The company currently has over 15,700 employees worldwide. In 2015, it plans to invest €300 million in opening new stores, renovation work on existing stores, and logistic and IT systems.

April 22, 2015 10:05 PM

B-Travel in Barcelona takes over Catalonia's International Tourism Fair after 23 years

ACN

B-Travel is a Barcelona-based tourism show bringing together some 215 exhibitors from across the industry and more than 50 different destinations. The event, one of the most important of its kind in Europe, kicked off on Friday at Fira de Barcelona's Montjuïc venue, taking over Catalonia's International Tourism Fair after 23 years. Conceived as a new meeting point for travellers and tourism companies seeking enriched customer experiences, it aims at tailoring the tourist offering to each visitor's needs. This year, attendees can sign up to the B- Travel Internet Community upon their arrival and receive customised information on the vast array of tourism offers on display, focusing on specific types of tourism such as cultural, gastronomic, shopping, rural, and adventure sports, among others.

April 17, 2015 09:05 PM

Prices in Catalonia accumulate 5 consecutive months of annual negative inflation, but rise by 0.7% in March

ACN

In Catalonia, prices rose in March by 0.7% compared to February, due to price increases registered in clothing and fuel, according to the Spanish Institute of Statistics (INE). However, the annual inflation rate remained negative for the 5th consecutive month, standing at -0.3%. Despite this bad news, March's annual inflation rate was higher than February's -0.8%. The Catalan trend reflects partly that registered in Spain as a whole, where prices rose in March by 0.6%. However, the annual inflation rate remained negative, standing at -0.7%. For Madrid, it represents the 9th consecutive month of negative inflation, although the situation in March is better than February's -1.1% annual rate.  

April 14, 2015 09:18 PM

Barcelona International Motor Show 2015 to host at least 38 international brands, 17 more than in 2013

ACN

The 38th edition of the Barcelona International Motor Show (SIAB) will be held between 9 and 17 May at the Montjuïc venue of the Catalan capital's trade fair. This year, the event will host at least 38 brands and others could be added in the following weeks. This is the biggest number since the economic crisis started. According to Mario Armero, ANFAC Executive Vice President, "the show coincides with a clear recovery of the sector, where 2-digit growth rates have been registered in sales, production and exports volumes". Organised by Fira de Barcelona, SIAB is the only motor show in Spain recognised by the International Organisation of Motor Vehicle Manufacturers. The coming edition will also coincide with the Spanish Formula 1 Grand Prix, transforming the Catalan city into the world's motor capital for a few days.

April 13, 2015 09:03 PM

Air Canada to maintain year-round Barcelona-Toronto route, with at least 3 direct flights per week

ACN

Air Canada announced on Thursday that it will be linking Barcelona El Prat and Toronto Pearson airports all year round, expanding its activities in the winter season. The Canadian airline currently offers seasonal flights connecting the two cities on a daily basis, only available in summer. As from 1 November 2015, it will also offer 3 non-stop flights per week in each direction - on Mondays, Wednesdays and Saturdays – served by a Boeing 767 aircraft.  The flights connecting Barcelona to Montreal will remain seasonal (only during the summer) for the time being. Santi Vila, Catalan Minister for Planning and Sustainability, has hailed Air Canada's announcement as "excellent news", which will foster the competitiveness of Barcelona El Prat Airport, increasing its intercontinental services, which will be added to a vast network of short- and medium-distance flights.    

April 9, 2015 09:59 PM

Read the latest updates and breaking news on business and economic matters from Barcelona and Catalonia here. Keep up to date with how the Catalan economy is performing, inflation levels, employment and unemployment, major business mergers, important company announcements, and the latest on Catalonia’s biggest enterprises such as Vueling, Wallbox, Grifols, Mango, and plenty of start-ups and international firms based here too.