business

Víctor Grífols, the President and part owner of the Catalan pharmaceutical company Grífols – which is one of the world leaders for blood-derivate products – has advised the President of the Catalan Government, Artur Mas to "go ahead" and "do not flinch", indirectly referring to Catalonia's self-determination process. At a public event to unveil the enlargement of the multinational's campus in Parets del Vallès (Greater Barcelona), Víctor Grífols stated: "When an organization – whatever its nature – has a clear goal to reach, a clear idea of which is the direction to follow in the future, it does not have to fear criticism questioning its strategy or raison d’être". The pharmaceutical firm has built a new plasma fractioning plant, which cost €20 million and will hire 70 new workers.

The $6-billion BCN World has added another top international investor to those developing Europe's premier holiday resort, to be located next to the PortAventura theme park in Catalonia's Costa Daurada. Chinese casino company Melco, Spanish hotel network Melià and UK shopping centre developer Value Retail will build the first resort of the total 6. PortAventura, which will host Ferrari's theme park in Europe, will also build 3,000 additional hotel rooms. However, the company promoting BCN World, Veremonte, was waiting for the legal framework to be adapted in order to close deals with further investors. Last weekend, the Catalan Government and the Catalan Socialist Party (PSC) signed an agreement to adapt the rules and this Wednesday, Veremonte announced the Hard Rock deal.  

More than 300 innovations from the agri-food industry are presented between the 31^st of March and the 3^rd of April in Alimentaria, one of the main trade fairs for this sector in Europe. The 20^th edition of this event, which takes place in the Catalan capital every two years, focuses on innovation and internationalisation. In fact, 40,000 visitors, 30% of the total 140,000 visitors, are foreigners. In addition, as explained by the Director General of Alimentaria, Antoni Valls, this year the organisers have managed to assemble 600 of the world's main international buyers, which is double the number at the previous fair in 2012. These top buyers have already arrived for 8,000 pre-scheduled business meetings with the 3,800 exhibiting companies at the fair, which occupies 94,500 square metres of Fira de Barcelona's Gran Via venue.

The Centre-Right Catalan Nationalist Coalition (CiU) – which runs the Catalan Government – and the opposition Catalan Socialist Party (PSC) - which does not support the self-determination vote – have reached an agreement on the new legal framework to develop the macro-resort BCN World. This project, promoted by Veremonte and located in Salou (Costa Daurada), has already announced some of its international partners, but in order to attract the rest of the investors needed and start construction, the legal framework on gambling and the area’s town planning had to be upgraded. After months of talks, the CiU has finally closed a deal with the PSC, instead of doing it with the Left Wing Catalan Independence Party (ERC), with whom it is promoting the self-determination agenda. The $6-billion BCN World will create some 17,000 jobs and will have mega-casinos, hotels, luxury shops, conference centres and beach clubs, among other things.

The Catalan economy is more open than ever and attracts record levels of foreign investment, according to new data published on Thursday by the Catalan Minister for Business and Jobs, Felip Puig. The minister celebrated the fact that for the second year in a row, the prestigious ‘Financial Times’ newspaper ranked Catalonia first region in continental Europe in foreign investment and job creation. Catalonia attracted up to 91 new business projects with an estimated investment of almost 3,000 million dollars (around 2,257 million euros) and the creation of 7,427 jobs. Gross foreign investment figures from the Spanish government put the figure at 3,500 million euros. Exports in 2013 were at record levels, and generated 58,359 million euros. There are now more than 49,000 companies selling abroad in Catalonia, a 6.8% increase in comparison to 2012.

American corporation One Distribution, which runs the skating brand Supra and Kr3w Denim, will move its European headquarters from Biarritz (France) to Barcelona. From the Catalan capital, One Distribution will also be managing its markets in the Middle East and Africa. The US company will occupy a 1,000 square metre building in Barcelona's 22@ technological district, in the Poblenou neighbourhood. Two showrooms will also be built to showcase One Distribution's products. According to sources from the Catalan Ministry for Business and Employment – which has assisted the company in setting up offices in Barcelona, 30 new jobs will be created within the first two years.

The Spanish Finance Minister, Cristóbal Montoro, announced on Friday that the publication of the so-called fiscal balances will be delayed until June, after he had promised to issue them by last December and by the current month of March. Montoro changed the calculation method in January, as the figures were used to support Catalonia's independence from Spain. Now, the new delay is "to improve" the report. This document shows how much money Catalan citizens and companies pay to the public authorities and how much returns to them through services, infrastructure and funds. A wide majority of the Catalan society has been complaining for decades that their contribution to finance services, infrastructure and funds in other parts of Spain is too excessive and they have asked for reducing such inter-territorial money transfers. Studies show that Catalans have been paying each year an average of 8% of Catalonia's GDP between 1986 and 2010, which represents 200% of Catalonia's total GDP.

In Catalonia, direct foreign investment – excluding the stock-exchange –grew by 31.5% year-on-year to reach €3.51 billion in 2013, as indicated by a report from the Spanish Ministry of Economy and Competitiveness. According to the Foreign Investments Registry, with such a figure, Catalonia achieved its second best year in history, only surpassed by the €4.82 billion received in 2010. Besides, Catalonia accounted for 22.2% of all foreign investments in Spain in 2013, which amounted to a total of €15.81 billion, meaning 8.8% more than the previous year. The region of Madrid was the leading Autonomous Community in Spain for foreign investment attraction, receiving €8.64 billion, which is it to say 54.6% of the total amount. However Madrid's sum also represents a 7.1% decrease on 2012 figures.

Barcelona’s City Council has achieved a cumulative budget surplus of €23.5 million for the last few years, after posting a budget surplus of €139.3 million in 2013. In a press conference on Wednesday, the Deputy Mayor for Economy, Business and Employment, Sònia Recasens also announced that the city had eventually executed 97.55%, (€2.25 billion) of its planned expenditure. Such a figure is higher than the average execution ratio for 2009-2013. The execution ratio for investments amounts to 94% (€356 million) and is also significantly higher than in 2009-2013. In addition, debt levels represent 46.7% of the annual ordinary revenue. Furthermore, the City Council paid its providers in 29.2 days on average. Thanks to these figures, the City Council will make available 1,000 new social housing units in Barcelona.

Japanese multinational Olympus, specialized in optics and reprography, has unveiled its new headquarters for Spain and Portugal, aimed at becoming its main centre for Southern Europe. The new facilities are located in the business district of L'Hospitalet de Llobregat, a city literally attached to Barcelona, between the Catalan capital and El Prat Airport. The new offices occupy 2,500 square meters in a building on the Europa Square, close to the Fira de Barcelona. It will welcome 30 employees of the divisions of Consumer Product, Microscopy, Industry, and Medical Systems. Merging the headquarters for Spain and Portugal constitutes a step forward to gain weight on the Southern Europe market, said Olympus Iberia's CEO.

On Wednesday evening the main Catalan small- and medium-sized enterprises association, Pimec, organised a protest conference in which they accused the Spanish and Catalan Governments of politically and financially "discriminating" against them. With the slogan #diguemprou (#wesayenough) 1,400 owners of SMEs and self-employed workers protested against both Governments for not taking SMEs into account and only working for the interests of large corporations. The protest was explicitly backed by 220 guilds and associations, as well as by 9 professional associations and that of self-employed workers. The event issued a manifesto compiling a list of grievances, split into 7 different areas: entrepreneurship; loans and funding; taxation; labour market; energy; training and employment; and internationalisation.

The Barcelona-based fashion enterprise announced that the French investment group Eurazeo will join the Catalan company after a €285 million injection. For this operation, Desigual will issue a share offer that will increase its capital by 10%, which will be entirely covered by Eurazeo. In 2013 Desigual posted a net profit of €129 million, which represents a 71% growth on the 2012 figures. The Catalan retail company's turnover reached €828 million, 18% more than the previous year, according to the Director General of Desigual, Manel Jadraque. On Tuesday, when presenting the company's results for 2013, Jadraque disclosed an EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) of €242 million, representing 29% of the sales figures.

International sales of Catalonia's sparkling wine Cava have amounted to 241.3 million bottles in 2013, 0.77% less than the previous year. The President of the Cava Regulatory Council, Pere Bonet presented such figures in a press conference on Tuesday. Bonet linked this decrease with the current economic context and recalled that other regions producing sparkling wine had registered sharper declines, for instance Champagne with a 2% drop. The Spanish market, accounting for one third of Cava sales, has performed better than in previous years and only fell by 0.47%. On the other hand, sales in the foreign market, which had increased every year since 1980, registered a 0.92% decrease in 2013.

The Catalan Government announced that, if the Spanish Executive finally decides to recentralise Catalonia's own taxes, they will take the issue to the Constitutional Court. The Catalan Finance Minister, Andreu Mas-Colell, stated that, if confirmed, "it would be a very provocative proposal" and "would make totally transparent, if it is not already transparent by now, the recentralising assault and the policy to dismantle the [current] Autonomous Community model". On Thursday an expert committee handed a report to the Spanish Government suggesting 270 measures to completely reform Spain's taxation system. The text states that the Spanish Government will "order" all the taxes, including those of the Autonomous Communities. Regional governments might continue having their own taxes but market unity will be a higher priority and taxes will always be "coordinated" by the Spanish Finance Ministry.

Catalonia’s PortAventura and Ferrari have reached an agreement to build a new area dedicated to the illustrious sports cars, expanding the current amusement park. Thanks to an over €100 million investment, ‘Ferrari Land’ will open in 2016 with 75,000 m² at its disposal. Visitors will discover several attractions designed for fans of the Italian brand, including a vertical accelerator announced as the highest and fastest in Europe. ‘Ferrari Land’ will also host the first Ferrari themed hotel, which will offer 5-star accommodation in 250 rooms. The Italian company had already opened a dedicated theme park in Abu Dhabi named ‘Ferrari World’, which was met with much success among fans of the prancing horse. The new amusement facilities will be built next to 'BCN World', a $6 billion resort that will open next to PortAventura, with hotels, conference centres, casinos, theatres and golf courses.