Business

The Bank of Spain has decided to allocate the Catalan Unnim Banc to the BBVA. With the operation, the BBVA will become Spain’s largest bank, ahead of Banco Santander when considering asset volume. The BBVA will pay €1 for Unnim and €300 million for 20% of the expected real estate losses. The remaining 80% and the public funds already allocated, which correspond to almost €2 billion, will be assumed by the Deposit Guarantee Fund, paid by all the banking sector combined with public funds. Unnim was intervened by the Bank of Spain in September, since it could not reach the required core capital and was too exposed to toxic assets. Unnim was the result of the merger of 3 Catalan savings banks from the 19th century: Caixa Sabadell, Caixa Terrassa, and Caixa Manlleu.

Virtual desks, automatic cash points, a new packaging line or consulting services on innovation are some of the Catalan products displayed at CeBIT. This is the Europe’s biggest trade fair on digital industry. It is being held in Hannover from March 6th to March 10th.

Catalan hotels registered in 2011 a new tourist record of 48.029.385 overnight stays. Foreign tourism increased by 10.6% in 2011. However the economic crisis led to a 2.5% fall in domestic tourism. Catalonia hosted 16.5 million of tourists last year, a 5% increase regarding 2010 figures.

The main trade fair on mobile phones and technology in the world brought together 11% more participants than the 2011 edition and more than 1,500 companies, including the main multinationals in the sector. Barcelona was declared the Mobile World Capital last summer and will organise this top international event until at least 2018. The 2012 congress had a direct economic impact of €300 million for the city and Catalonia’s economy. The CEO of the organising company, John Hoffman, said that the 2012 MWC “has been a success in all aspects”.

Vueling had a net profit of €10.4 million last year. This marks a clear improvement of 8.4% on its results from 2010 despite the 40% price increase in fuel. Vueling transported 11.6% more passengers in total, and 9% through its European routes last year. The Catalan company reached in 2011 its passenger record, with more than 12.3 million people transported.

The Mobile World Congress has attracted more than 60,000 delegates from the most influential mobile companies on the planet to the Catalan capital. The event is the most important of the year, and it’s a great opportunity for developing business in the sector. The delegates will explore the way the mobile industry is redefining communication and will try to get business contracts related to the new era in smart phone technology. The organisation motto for this year’s edition is ‘Redefining Mobile!’

The metro strike organised by employees of Barcelona Public Transport (TMB) who were demanding a salary increase has been cancelled. The bus strike is still planned, although after the metro’s cancellation, bus workers would be also considering doing so. The strike was coinciding with the world’s main trade fair and conference of the mobile phone and mobile technology industry. However, it was not affecting taxis, tramways, airport buses, and commuter trains. The strike will only affect urban buses. The underground will be operating as normal. During rush hour buses will function at 50% of their capacity and the rest of the day at 20%.

The Catalan transport and telecommunication company ended 2011 with a net profit of €720 million. The profit increase is due to a growth in returns from Abertis’ airport business and the increase in traffic on its motorways in France and the United States. However, the Barcelona-based multinational experienced a drop in its telecommunication revenues.

Inditex, the Spanish retail giant that owns Zara, Pull&Bear, and Oysho, among other brands, will base Massimo Dutti’s world headquarters in the Catalan coastal town of Tordera, located 60km north of Barcelona.

The Barcelona-based energy company’s net profit growth is due to a business increase in Latin America and the synergies created after the merger of Gas Natural with Unión Fenosa.

The Spanish Economy grew by 0.7% last year, however decreased by 0.3% in the last quarter, because of the “contraction in domestic demand”. The Catalan Finance Minister, Andreu Mas-Colell, said he would review the 0.8% growth prediction for 2012, since the latest data points to an economic slowdown. Besides, the Spanish Deputy Minister for the Economy, Fernando Jiménez Latorre, stated that data for the first term of 2012 “will be similar” to that of the last quarter of 2011 “or a bit worse”; if confirmed, it would mean a recession.

15,644 companies opened for business in Catalonia last year, which represents an 8.76% increase compared to 2010. However, in 2011, there was also a 3.17% increase in the number of companies that shut down.

Alimentaria 2012 is one of the most important trade fairs in the world focusing on food and drinks. It is organised in the Catalan capital every two years. The next edition will be held between March 26th and March 29th, reducing its length from 5 to 4 days. However, the trade fair maintains the exhibition space and the number of exhibitors and participants.

The Catalan company opts for sustainable energy and internationalisation to get through the economic difficulties. With this move, Baxiroca hopes to become Europe’s major supplier. The plant has cost 4 million euros and will export 80% of its production.

The US technology company Tech Data will create 400 highly qualified jobs in the Catalan capital. Tech Data, which specialises in hardware distribution, will open the new facility in Barcelona’s Zona Franca, an industrial district next to the port. The new Barcelona operations centre will serve the rest of the company’s European plants.