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Spanish banks will use their own resources to get the 26,121 million euros needed according to the new rules

October 27, 2011 11:43 PM | CNA

The Spanish stock exchange celebrated the European Summit’s results by increasing 4.96% in a one day of trading. The main managers of the Spanish banks are convinced they will get the requested core capital with their own resources. In addition, they believe they will need 13.5 billion euros, and not 26.1 once the detailed calculations are made. Spanish financial circles consider the new rules, adopted to counteract French and German banks’ exposition to Greek sovereign debt, do not particularly benefit Spanish banks, which almost do not hold any Greek debt. In addition, as was the case with the stress tests, the criteria to analyse the bank situation ignores Spain’s proposals and imposes those benefiting German banks.

Rajoy will kick off the Spanish electoral campaign in Catalonia for the first time

October 27, 2011 01:23 AM | CNA / Gaspar Pericay Coll

Catalonia has a different political landscape than the rest of Spain, and it is where the People’s Party (PP) always gets its worst results. Polls indicate that in the next Spanish elections, the People’s Party will be very far from winning in Catalonia but it could get its best results winning between 12 and 14 seats. Looking to ensure an absolute majority in Spain, the PP’s leader Mariano Rajoy plans to better the party’s results in Catalonia and therefore decided to start the official campaign in a town from Barcelona Metropolitan Area.

Released turtles return to the Mediterranean Sea after several months recovering at Catalan NGO facilities

October 27, 2011 12:17 AM | CNA / Bertran Cazorla

The beach at El Prat de Llobregat, next to Barcelona Airport, witnessed the return of a group of loggerhead turtles to the Mediterranean Sea. The release took place after their full recovering at CRAM's facilities, a Catalan foundation treating wounded marine animals. The release served as an example of a public awareness campaign on the turtle’s fragile ecosystem.

The Catalan Government presents an action plan to fight unemployment

October 26, 2011 12:40 AM | CNA

The Catalan Minister for Business and Employment has stressed that the Government’s objective is to reduce unemployment by half by 2014. The plan foresees ten measures, with a special focus on the long-term unemployed. Some of the measures include incentives to SME companies to hire the long-term unemployed, collaborating with private temporary work agencies, enlarging the network of education classrooms and relocating staff from the Catalan Public Employment Service to provide job search council and other direct services.

Telefónica to provide Barcelona city with 4G broadband internet access in 2012

October 26, 2011 12:31 AM | CNA

The Spanish telecommunications multinational commits to offering a 100 Mbps broadband wireless Internet connection throughout Barcelona city in 2012, which will multiply the current capacity by 14. 4G broadband is already offered in specific spots, such as trade fair venues, conference centres or at Barcelona Airport. However, its potential use throughout the city was one of the conditions for hosting the Mobile World Congress, which chose Barcelona as its organising city until 2018.

High-Speed Train between Barcelona and Madrid is reduced to 2h 30 min

October 25, 2011 12:04 AM | CNA

Trains will reach a maximum speed of 310 km/h along some points of the trip. The improvement is due to the implementation of a new navigation system that has reduced the journey time for direct trains by eight minutes. The Spanish train operator, RENFE, hopes to overtake air travel as the preferred way to go from one city to the other. The air route between Barcelona and Madrid is the busiest in Europe and it used to be the busiest in the world.

The Catalan Government issues 3,700 million euros in one and two year retail bonds

October 24, 2011 10:19 PM | CNA

The 3.7 billion euros may be increased to 4 billion euros depending on demand. After the first day, the offer of bonds raised “high interest” according to financial sources. Citizens will be allowed to buy a minimum quantity of 1,000 euros and a maximum of 2 million euros. The Government is issuing bonds that expire in one year at an interest rate of 4.75%, and others expiring in two years at an interest rate of 5.25%. The Catalan Finance Minister stated that this bond offer is “safe and attractive”. It is the third emission of retail bonds in the Catalan Government’s history. The current bond emission mainly aims to replace those from the first emission, which expire next November 21st.

FC Barcelona and the Bill & Melinda Gates Foundation together against Polio

October 24, 2011 07:16 PM | CNA

The Fundació FC Barcelona and the Bill & Melinda Gates Foundation have released a video to increase awareness of the disease to coincide with World Polio Day. In the video, Bill Gates, who can be seen wearing a Barça shirt, states: “no other sporting institution in the world [than FC Barcelona] shows the same passion for resolving social problems”. As part of that commitment, Barça first football team players all wore shirts bearing the words “End Polio” before last Saturday’s game at the Camp Nou.

PortAventura theme park is building the tallest rollercoaster in Europe

October 21, 2011 10:35 PM | CNA / Núria Torres

The Catalan theme park, located on the Costa Daurada next to Tarragona, will invest 25 million euros building the new attraction, which will be 76 metres high and will emulate the Himalaya. In addition, users will reach a speed of 134 km/h. The new rollercoaster’s name and exact design are still a mystery, but it will cross the Dragon Khan four times. The Catalan President assisted in the ceremony of the laying of the first stone. The attraction will be ready in May 2012.