Business

Paul Allen, who founded Microsoft together with Bill Gates, has invested $40 million in the Barcelona-based Scytl, which is present in 35 countries and is one of the most innovative e-voting companies at world level. Allen will join Scytl's shareholders through his investment fund Vulcan Capital. Vulcan Capital's Manager Abhishek Agrawal will join the Catalan company's Board. Agrawal praised Scytl's "key role" in upgrading electoral processes in cooperation with governments throughout the world. In fact, in the last 10 years the Catalan company has carried out e-voting commissions in the US, Canada, Mexico, Ecuador, France, Norway, Switzerland, Bosnia, India, Iceland and Australia. Since 2006 the company led by Pere Vallès has made profits and grown by 70% each year.

At the end of March 2014 there were 39,583 fewer jobseekers in Catalonia than twelve month earlier, which represents a 5.96% drop. It is the sharpest drop since June 2000. In addition, registered unemployment in Catalonia has been decreasing in annual terms for the last 9 consecutive months. On top of this, it is the third consecutive unemployment decline registered in a month of March. After this drop, the total number of people registered as unemployed at the Catalan Public Employment Service (SOC) was 624,467 people. In monthly terms, there were 5,119 fewer jobseekers at the end of March than in February. The fall in monthly terms is the sharpest registered in this month of the year since March 2005, before the economic crisis.

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.

The Barcelona-based bank, which was totally nationalised in December 2012 and received a €9.08 billion bailout, has made profits of €532.2 million in 2013, which would represent €167.8 million without the extraordinary profits. In 2012, CatalunyaCaixa posted losses of €11.86 billion. In 2013, the operational costs were reduced by 13.1%, having drastically reduced the number of employees and branches. The bank's capital ratio is now 14.36% and the main capital following Basel III criteria reached 12.3%, which represents liquidity of €15.01 billion. With these figures, the Spanish Government is in a better position to sell CatalunyaCaixa, which forecasts profits also for 2014. This company was the result of merging the banking business of 3 savings banks in 2011: Caixa Catalunya, Caixa Tarragona and Caixa Manresa, which disappeared after a long tradition of social work. The operation was part of Spain's restructuring of the banking sector.

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.

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.

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.

Catalonia is the only Autonomous Community in Spain to have registered a decrease in wages, as it was also the only one to have public employees' Christmas payment – equivalent to a month’s salary – entirely eliminated in 2013, according to the latest Quarterly Labour Cost Survey issued by the Spanish Government. Hence, while Spanish wages have increased by 2.1% in 2013, the wages of Catalan employees have continued on a downward trend continued o, falling by 0.7% at the end of December 2013 compared to the last quarter of 2012. The average salary in Catalonia stood at €2,133 per month, returning to 2009 levels, when it had amounted to €2,119. Labour costs, which group the employee salary and social costs assumed by companies, have also fallen by 0.4% in annual terms in Catalonia whereas they were up by 2.1% in Spain.

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.

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.

E-commerce giant Amazon is studying the possibility of opening its first logistics centre in Catalonia, as advanced by some newspapers on Thursday. The new facilities could be located in El Prat de Llobregat, next to Barcelona's main airport. The centre could dispose of 210,000 m2 of work space and 151,000 m2 of land, making it larger than the Amazon centre in Madrid, according to ‘La Vanguardia’ newspaper. Works could start soon for the logistics centre to become operational by late 2015, with 3,000 employees expected to be hired. The Catalan Minister for Business and Employment, Felip Puig, regretted this early announcement as the company has not reached a final decision yet. Puig regretted the “reckless” move by the Spanish Secretary for Trade for disclosing the news and added that Catalan authorities continued to “work discreetly” to attract investments from foreign multinationals.