Business

During July, inflation rates experienced their third consecutive month of decline. In the last 12 months, the cumulative price increase now stands at 3.2% in Catalonia. The drop of summer sales has helped to lower inflation.

Unnim’s profit is 8.7% inferior to the same period last year. The savings bank says the decrease is due to of the merger costs and the general economic situation. Unnim is the result of a merger announced last summer between three Catalan saving banks. Unnim failed in the last stress test’s worst scenario, but according to the Bank of Spain will not have to be rescued.

Barcelona-based Gas Natural Fenosa enlarges its capital with 515 million euros invested by the multinational North-African company, Société Nationale (Sonatrach).

The yields for Spanish 10 year bonds are well over 6% while economic growth remains slow

The yield on Spanish bonds reached 400 points more than German ‘bunds’, a record since the introduction of the euro

Catalonia and five other autonomous communities have had their long term rating downgraded whilst the Spanish state's credit rating comes under review.

Visitors from the United Kingdom were the highest contributors in June, spending 1229 million. Germans follow, with a total expenditure of 900 million euros while French tourists, with 514 million euros, increased their cumulative expenditure by a surprising 16.4%

The low-cost airline has reduced its activity by half after failing to reach an agreement with the Government. This cut entails, according to the company, a 50% drop in traffic, which will decrease the number of passengers from 2.6 to 1.3 million.

The Catalan capital secures this global event despite competition from Paris, Milan and Munich. The economic impact for the entire period of 2013-2018 is estimated at a staggering 3459 million.

The results are 11% higher than last year. The group stresses that has strengthened its capital standing by 11.3%, 2.4 points higher than in December 2010.

Robert Casajuana warns, however, that Spain is "getting dangerously close" to offering yields of 7% for 10 year bonds, the point, according to him, "of no return"

The Catalan President has inaugurated the expansion of the facilities of the Boehringer Ingelheim pharmaceutical company in Sant Cugat. Artur Mas stressed that behind the crisis “is always the industry, companies turn ideas into products that give way to new opportunities”

Up to 80 daily operations take place between the Catalan and the Spanish capitals The fourth route with the greatest passenger volume is Barcelona to Palma de Mallorca.

Characterised as one of the most powerful men in combating the Spanish financial crisis, Catalan President Artur Mas presents his forceful economic strategy to the US newspaper

Unnim and CatalunyaCaixa would have 4.5% and 4.8% of core capital respectively. However, the provisions that all Spanish banks must have to face difficult times have not been taken into account as they did not exist in other European banking systems. With these funds taken into account, Unnim and CatalunyaCaixa would have approved the tests with 6.2% and 6.3% respectively. CaixaBank, the most important Catalan bank passes the test with 6.4%.