Business

The industry sector consolidates its position as the main engine towards the recovery from the economic crisis. Despite this positive data, the 2010 GDP falls by 0.2% in comparison to 2009.

All the Catalan savings banks are in the process of becoming regular banks. In the last 6 days, all the savings banks have been defining their future and they are all going in the same direction: transforming their structures into those of a regular bank. The first stage was the merging process that took place before summertime and now, with the new banking rules at international, European and Spanish level, savings banks are finding it easier to continue operating as regular banks. The old model is thus finished.

The total number of unemployed people in Catalonia is now 589,623. In Spain as a whole, registered unemployment increased by 130,930 people this January. The total number of unemployed people sets a new historical record, with 4.23 million. Traditionally, January is a bad month in terms of unemployment data due to the end of Christmas sales’ hirings.

The Catalan bank Banc Sabadell reaches the 8% milestone by issuing 126.4 million new shares, which represent 10% of its capital. The movement is part of the bank’s strategy to strengthen its capital, foreseeing the future stress tests and the Basel III rules.

Unemployment in Catalonia rose in the fourth quarter of 2010. Although the industry sector had a good year, it is the only sector that provides jobs and is not enough to compensate the damage.

'La Caixa' will get share listing by transforming its industrial holding company 'Criteria' into a bank. The new financial institution will become one of the top 10 banks in the Eurozone

The Spanish Minister of Public Works and Transport, José Blanco, has said that the Mediterranean corridor is an investment priority considering 110 million tonnes of freights are transported across the border each year.

In reaction to the latest announcement from the Spanish Government, the savings bank Unnim is studying ways of becoming a bank. The financial institutions is waiting for the Spanish Government’s new rules for the financial entities regarding their solvency and their “core capital”.

For the first time in four years December 2010 saw a small decrease in the availability of office space in Barcelona. This indicator would show that the office space market is starting to head towards getting on the recuperation track.

Pyrenair will transport skiers from Vigo, Madrid and the Canary Islands to Lleida-Alguaire airport for the next five weeks. Nine in ten seats were already full for the first flights last Sunday.

The chairman of BAA Angela Knight urged savings banks to reconsider their strategy and find diverse ways to finance themselves. The insisted that narrowing the market to a single territory is increasing their exposure to the economic context.

While Spanair recorded an 11.6% increase in passengers in 2010, Iberia lost 19.5% passengers and Air Europe 16%. The airline that is partially owned by the Catalan Government offers 59 direct destinations from Barcelona, 13 of which intercontinental.

The Catalan savings bank owed the 1.63% of the oil company Repsol. By selling all its stakes, it earned 448 million, which represents a profit of 186 million euros. The financial entity made this operation to increase its core capital, in order to be ready for the banking stress test.

The Japanese company has finally chosen to manufacture the new van in a factory in the Catalan capital. The decision comes after workers agreed to a change in their labour conditions including a freeze on salaries until 2014.

The average price per square meter was 2681 euros at the end of last year. Catalonia has the third most expensive property market within Spain, after the Basque Country and Madrid.