business

The transformation of the savings bank La Caixa’s industrial holding, Criteria into the private bank CaixaBank is reaching the final stage. Criteria’s stockholder board approved duplicating the current stocks by issuing 300,000 convertible bonds. The new bank expects increasing its market share in Spain by 50% through business activity increase and new acquisitions in the period 2011-2014. The announcement is made the day after billionaire Carlos Slim bought 900,000 CaixaBank stocks.

The airline Vueling, which has its main base at Barcelona’s El Prat Airport, has a network of permanent operating bases, to which Paris Orly will be added if French authorities give the green light. Vueling’s Chairman, Josep Piqué, announced that a minimum of six planes will be based at France’s second airport. Across the 21 routes it has in France, the airline estimates that it will carry 26% more passengers in 2011 when compared to last year.

In the year of its 130th anniversary, the historical flagship of the Catalan press, the spokesperson of the business world and centre-right nationalism has launched an edition in Catalan. ‘La Vanguardia’ has finally taken this step after many years, or even decades, of rumours. Also some months after a new newspaper in Catalan aimed at a similar but younger target began publication. “Our DNA is Catalan”, states the newspaper’s editor Javier Godó to explain their decision.

According to a study released by the Spanish Observatory of the Wine Market, Catalan wine exports increased by 8.8% in 2010 in terms of revenue, but at a lower rate than other wine producing areas in Spain, with an average increase of 10%. However, foreign customers seem to appreciate the quality of Catalan wine, as its price increased by 3.6%, while the average Spanish wine price dropped by 4.9%.

The Catalan firms have their headquarters in Barcelona. Gas Natural Fenosa is Spain’s sixth largest company and Criteria Caixa the seventh according to the magazine. In the ‘Forbes’ Global 2,000 List, which ranks the 2,000 world’s largest companies, Gas Natural occupies 269th place and Criteria Caixa 322nd.

The economic crisis that has dragged on since 2008 has led many young professionals to create their own businesses. Such is the case of four Catalan entrepreneurs in new technologies, all of whom have built their own companies in recent months.

They also asked for an improvement in vocational training and development of the Catalan economy’s internationalisation. The President of the Catalan Government, Artur Mas, met today at the ESADE Business School with 200 of the most important business people in Catalonia. Among others, the presidents and main directors of Abertis, La Caixa, Banc Sabadell, Seat or even FC Barcelona were present and Mas asked them to take the lead in the economic recovery.

Catalonia’s International Tourism Fair is currently taking place and will run until this Sunday. Barcelona broke all records in 2010 regarding visitors. 7.3 million tourists visited the Catalan capital and there were 14 million hotel nights booked by visitors. The Catalan Minister for Business and Employment, who is in charge of tourism, expects 2011 for Catalonia to be “exceptional”.

Torres is one of Catalonia's most globally recognised wine houses, with vineyards and wineries in places such as Chile and California. Company President Miguel A. Torres believes that innovation in every step of the process of wine production is necessary. He also stressed the importance of exports to get over the crisis.

Chinese businessmen have chosen the Catalan coastal village to be the model for their new holiday resort in China. This Costa Brava village will thus have a carbon copy in Zhangzhou, Fujian region’s Xiamen bay.

FDI in Catalonia surpassed the 3.9 billion euros mark in 2010. It represents 34% of FDI in Spain and was almost three times higher than 2009 levels. The Catalan Government is currently negotiating 189 projects that could bring in up to 6.5 billion euros to the Catalan economy.

Goods transportation is increasing at Barcelona Airport since it experienced a drop in 2009 due to the global economic crisis. Two companies have already announced that they will establish their services in the area. Barcelona Airport transported 104,280 tonnes of goods in 2010.

Foreseeing a negative decision the Catalan Government already modified the law in 2009. The sentence declares illegal certain aspects of the law approved in 2005, such as conditioning the establishment of large retail centres to the expected effect on existing small businesses in the area or on the market share.

Catalan Olga Fontanillas is the founder of this NYC-based company. She assures this is the best time to break into the American market.

The Catalan pharmaceutical and chemical company was identified in a Wikileaks cable from the U.S. State Department as one of three strategic items the United States had in Spain, together with the natural gas pipeline from Algeria and the Gibraltar Strait. Grifols leads the blood plasma-based products’ market in Europe and is expanding its U.S. presence.