Business

The leading company in Spain for online entertainment sales, born in 2000, has not stopped expanding over the past twelve years. What began as an idea among four friends to get the theaters filled, today is a leading Internet company with more than 350 employees, a presence in six countries and a turnover of €210 million a year.

Independent auditors state that in the worst possible scenario the Spanish banking system would need up to €62 billion. The Eurozone agreed to put at Spain’s disposal up to €100 billion if needed. In the most likely scenario, the Spanish banking system would require between €16 billion and €25.6 billion. Within the most stressed case, Spain’s three main banks would have enough resources of their own to face difficulties and would not need any additional funding. They are the Barcelona-based CaixaBank and the two international giants BBVA and Banco Santander.

House prices have dropped for 17 consecutive quarters in Catalonia. Last quarter’s drop was the highest since the crisis in the sector began in 2008, falling by 14.6% in the last 12 months. In Spain as a whole, house prices dropped by 11.8%.

On its 75th anniversary, the company has demonstrated the keys to its success: innovation and the study of the healthy properties of food. The President of the Catalan Government has said that Gallina Blanca is an example of solid-working practices which fight speculation and help to improve the economic situation.

Compared to the rest of industrialised countries, Catalonia’s industrial sector improved its competitiveness index by 0.7% between October and December 2011, compared to the same period a year earlier. Catalan industrial prices have been improving their competitiveness since 2009.

According to the Bank of Spain’s Deputy Governor, the Catalan bank would need an additional amount of €4.5 billion to meet the capital requirements of the last decree approved by the Spanish Government. Before this announcement, the Spanish State had already allocated €2.97 billion to rescue CatalunyaCaixa. Novagalicia would also need €4.5 billion. Combined, these €9 billion are to be added to the €19 billion for Bankia. The Spanish Government refuses to give the total figure required by the entire banking system, as it waits for the independent audit’s results. However, the IMF leaked that Spanish banks might need €40 billion.

The multinational chemical company explains that they would invest more money if the Mediterranean Railway Corridor were already a reality. This infrastructure is being delayed by the Spanish Government and it would enable the transportation of freight on international standard width railway from Catalan ports to Central Europe, and vice versa.

Sixty Catalan companies work out of the country and more than 2,400 export to the Argentinean Republic. “The lack of legal certainty in Argentina is not new, […] so the firms that do business […] have learnt to coexist with constant changes in the legislation”, stated AIS Sales Director.

The Catalan company counterbalanced its fall in the Spanish market with benefits from international sales. Foreign market activity contributed 42% of the profit from the first quarter to Gas Natural Fenosa, in contrast to 36.6% in 2011.

The North-American company will launch later this year the ‘PayPass Wallet’, a global technology platform that unifies physical and digital payment systems. Master Card has just opened an office in Barcelona in order to take advantage of the synergies in a “pulse for future technological development” according to the president of MasterCard Europe, as Barcelona, was proclaimed World Capital of Mobile Telephony. MasterCard Europe has only one office per country, so Catalonia will be the first exception: with the opening of the new office in Barcelona, the company has two locations in Spain.

Passengers that catch a cruise after arriving in Barcelona by plane can check-in at the airport until November 6th. At the same time, travellers who arrive by cruise and then catch a flight can check-in at the harbour terminal. More than 47,000 passengers used these services last year.

Josep Oliu, President of Banc Sabadell, thinks that if somebody is to be made responsible for the current crisis, a thorough analysis of the decisions of sector managers during the 2003-2007 period should be made, and not among those currently in charge. Oliu, who has been a banker “all his life”, feels he is a “victim” of a situation provoked by managers who were “not acting as bankers”. The Catalan banker recognised that the Spanish banking system can still face the new requirements on its own but it is getting “closer to the limit of its own economic capacity”. Besides, Oliu was very satisfied with the European Commission’s green light for CAM’s integration into Banc Sabadell’s business.

The logistics company might invest €40 million in the next two years. Since the late 1990s, the Belgian company has had a large warehouse in Constantí, next to Tarragona, in which €60 million has already been invested. In the last number of years, the company has invested an additional €10 million to build the new terminal. The new facilities demonstrate Katoen Natie commitment to operate from Tarragona, near Spain’s main chemical pole, railways, highways, an airport, and an important sea port.

UAE’s airline Emirates has announced it will link the Catalan capital with its main operations base in the Persian Gulf, Dubai. Emirates has emphasised that the new service will ease the access of Catalan companies to Asian markets and vice-versa as it will facilitate and increase the arrival of foreign investors and tourists coming from Asia to Barcelona.

The decision represents the creation of 700 direct and indirect jobs. Car manufacturer Nissan has confirmed it will build the new ‘e-NV200’, a totally electric van at its Zona Franca plant from next year. The plant is located in Barcelona, next to the city’s port and airport. From there, the new van will be distributed worldwide. Barcelona competed with other Nissan plants in China, Japan and Mexico. In addition, Nissan managers were confident that Barcelona’s plant could produce other models in the future.