Business

Scott Sage (UK Investor): "Barcelona has been our focal point in Spain". A group of companies from the Catalan capital attended a meeting with investors in the United Kingdom.

CatalunyaCaixa won 109.1 million euros in 2010, 1.1% less than in 2009. The second Catalan savings bank is the result from the merger of Caixa Catalunya, Caixa Tarragona and Caixa Manresa. The resulting savings bank currently has 6.9% of core capital, far from the needed 10% by next September. The savings bank already announced its plans to become a regular bank.

602,611 people were unemployed at the end of February in Catalonia, which is 2.2% more than at the end of January.

Thanks to exports, 2010 was a great year for the Catalan cava industry. The total revenue reached 1,031 million euros, 10.87% more than 2009.

The industrial holding of the main Catalan savings bank, ‘la Caixa’, made 1,823 million euros of net profit in 2010. Criteria will be the embryo of La Caixa’s new private bank, which will be called CaixaBank.

The Catalan company, which manages transport infrastructures, increased its net profit by 6.1% in comparison to 2009. Abertis announced yesterday it would split its business in two different companies.

Despite volcanic ash clouds and air traffic controllers’ strikes The Catalan airline increased its net profit by 66% in comparison with 2009. In 2011, the company plans to increase by 15% its number of flights and passengers.

One company will run the highway, airports and telecommunications business; another company will control the parking and logistic services. Shareholder distribution will not be changed. Abertis is a Catalan transport and communication services multinational, present in many countries.

The net profit for last year illustrates a 0.5% increase in relation to the 2009. The Catalan multinational’s activities in Latin America grew by 30.4%. The energy giant is confident it will reach an agreement with the Algerian company Sonatrach on a pending issue on natural gas price adjustments.

The insurance group of the Catalan savings bank ‘la Caixa’ earned 19,5% more than in 2009. The acquisition of Adeslas is a positive result for the VidaCaixa Grup.

Andreu Mas-Colell, the Catalan Minister for Economy, reflected on the issue at a ceremony, where savings bank La Caixa and Catalan universities were giving away up to new 20 grants for research projects. The objective is to prevent a possible brain drain in Catalonia. Mas-Colell said that once the sector reforms were accomplished, the financial entities would get more freedom.

The HP International Centre of Barcelona will be fostered in order to get “the maximum efficiency and effectiveness […] avoiding the dispersion in different European centres and countries”. The company will focus its image and printing business’ marketing services for the entire Europe, Middle East and Africa in Catalonia.

The multinational clothing company Inditex has announced the expansion of its logistics centre in Tordera (North of Barcelona coast), which will create 500 direct jobs. According to the company, the centre will become the largest and most modern clothing distribution centre in Europe. Inditex CEO announced the decision after a meeting with the Catalan President.

This year’s edition of the world’s leading congress on cell phone technology, which was celebrated in Barcelona for the 6th consecutive year, had 20% more visitors than in 2010. More than 60,000 people attended the congress.

The low-cost airline Ryanair is cutting 28% of its routes from Girona airport and not replacing them with routes from other Catalan airpots. Although Ryanair promised to stay in Girona a few months ago, now the Irish airline company has accused the current Catalan Government of not respecting their agreement, for which it was receiving public subsidies. The Government is surprised by the decision and has reminded Ryanair of its current obligations.