business

The Basque domestic appliance company Fagor Electrodomésticos, which declared bankruptcy in November 2013, has been bought by the Catalan company Cata. On Tuesday the Mercantile Court Number 1 in San Sebastian awarded Fagor's assets to the Catalan domestic appliance company for the price of €42.5 million, €14.5 million more than was offered by the Algerian company, Cevital. Cata offer covered all of the bankrupt divisions of the Basque cooperative and pledged to create 705 direct jobs, as well as ensuring the continuity of the brand names Fagor, Edesa, Aspes and Splendid. Cata stated that the purchase of Fagor was important because it will create "industrial synergies" between the two companies.

FC Barcelona's Economic Vice President, Javier Faus, has given a press conference on Tuesday to review the 2013/14 finances, revealing that the Catalan club has made its second highest profit ever of €41 million a figure previously only topped by the 49 million euros in the 2011/12 season. Furthermore, Barça posted a record income of €530 million. Faus also explained that in the four seasons since 2010/11, when the new Board came into power, the club has an accumulated profit of €113 million. In addition, The 2013/14 season also witnessed a reduction in the net debt by 44 million euros, meaning that since the new Board took over, this figure has decreased by 143 million, and as of June 30 of this year now stands at 287 million euros, while four years ago it was 431 million.

International tourists spent €5.986 billion in Catalonia during the first six months of the year. This represents a 3.9% increase on the same period of 2013. Furthermore, it is also 22.7% of the total foreign tourist expenditure in Spain for this period. Catalonia is the second Autonomous Community where foreign visitors spent more money during the first half of 2014. The Canaries came first with an expenditure of €6.069 billion.  However, both the tourist expenditure in Catalonia per stay and per day in the first half of 2014 fell in comparison with the same period in 2013. Foreign tourists spent €840 per stay (2.6% less than in 2013) and €129 per day (-1.4%). Catalonia is also the area where international tourists spent more money during June, reaching €1.551 billion. This represents 0.2% less than in June 2013, but 24.9% of the total foreign tourist expenditure in Spain that month.

Catalonia has established a reputation as a global centre of scientific excellence, pioneering research and innovative ideas. This corner of Europe, with just 0.1% of the world’s population, accounts for nearly 1% of global scientific production. The Catalan Research system, formed of 12 internationally esteemed universities, over 60 research centres, 15 world class hospitals, and almost 9,000 innovative companies, attests to the Catalonia's ambitions in science. This territory is also a magnet of international funding: with 1.5% of Europe’s population, it receives 2.2% of European competitive funds and 3.5% of European Research Council (ERC) grants. There can be no doubt that Catalonia is now a benchmark in Southern Europe, producing frontier research and punching considerably above its weight in terms of scientific contribution.  It is attracting worldwide talent and projects, and many consider it to be fast becoming the Palo Alto of biomedical research.

The number of unemployed people in Catalonia has decreased by 69,800 in the second quarter of this year; the largest drop in unemployment rates in the whole of Spain and the biggest decline in the jobless population in the last 12 years. Catalonia also created 79,300 new jobs in the second quarter of this year, a rise of 2.68% in comparison to the first quarter. This means that the total unemployment rate in Catalonia has dropped by nearly 2 percentage points since March 2014, falling from 22.1% to 20.22%. Spain as a whole has also registered a drop in unemployment of 310,400 people, meaning the number of jobless citizens is down to 24.47% of the total active population.

According to a report published on Thursday by Barcelona's Chamber of Commerce, the Spanish Government's investment in infrastructure in Catalonia has dropped by 50% in the last 10 years, while it has been reduced by 25% throughout the rest of Spain in the same period. The President of the business association, Miquel Valls, stated that this reduction represents "a break"in the Catalan economy's growth, which could be in a better position to speed up the economic recovery. The report takes into account the executed investment made by the Spanish Government and its public companies in areas such as airports, high-speed railway or harbours. In 2006, the Spanish Parliament recognised "a historical" lack of investment in Catalonia when it approved the Catalan Statute of Autonomy and set a minimum investment percentage share to be made in Catalonia to compensate this in the next 7 years. This share was never respected.

An old factory in the 22@ technological and business district of Barcelona, named Ca l'Alier, will be transformed into an innovation centre focused on Smart Cities. The French multinational Schneider Electric and the American networking giant Cisco Systems will invest €6 million in the building's renovation in order to set up their new research centres. The two companies then plan to invest a total of €37 million in the centres over the next 5 years. Barcelona´s City Council will also occupy a part of the renovated building for offices for its new Institute of Technology for the Habitat (BIT Habitat). The renovation of the Ca l'Alier factory will be the first step towards the creation of the Smart City Campus, which will be located throughout the 22@ technological district, a developing business area in Barcelona located around the old Poblenou industrial neighbourhood. The new Ca l'Alier research centres are expected to open in the summer of 2016 and to create 160 jobs.

The FC Barcelona forward will join the Premier League's Stoke City side this summer. After spending nearly his entire footballing life at FC Barcelona, Bojan Krkic says goodbye to his club. The Catalan forward, who was always one step ahead of his age in terms of skill and quality, leaves FC Barcelona with the distinction of being the all-time highest scorer in the Barça youth system. His tally from all his years at La Masia exceeds the 400-goal mark. He also performed well when he shared the senior side dressing room with some of the best forwards on the planet. First he vied for a starting spot with Eto’o, and then with Ibrahimovic and Leo Messi. During his four seasons on FC Barcelona's first team (2007-2011), he scored a total of 26 goals. He was then loaned out to Roma, Milan and Ajax.

From the 20^th until the 25^th of July, more than 4,000 scientists, researchers, engineers and academics from 52 countries will meet in Barcelona's Palau de Congressos de Catalunya for the 11^th World Congress on Computational Mechanics (WCCM). Experts will be presenting 3,200 scientific papers and 220 mini-symposiums. They will also develop computer simulations that allow studying the operation of aircrafts, nuclear plants and the human body without the need of direct experiments on prototypes and people. More than 300 Catalan researchers will also participate in the summit which, for the first time, is jointly organised with the 5^th European Conference on Computational Mechanics (ECCM) and the 6^th European Conference on Computational Fluid Dynamics (ECFD VI).

Catalonia received 1,677,679 foreign tourists in June, an increase of 2.4% compared with the same month in 2013. The combined number of foreigners who visited the Autonomous Community in the first half of this year reached 7.129 million, which is an increase of 6.7% and sets a historic new record for the number of foreign visitors passing through Catalonia. This good performance has been shared throughout Spain, as it hosted 28 million foreign tourists in the first half of 2014, marking a new record.

BBVA will pay €1.187 billion to the Fund for Orderly Bank Restructuring (FROB) for the nationalised Catalan bank, beating the other two offers in the final phase of the auction process presented by Santander and Barcelona-based CaixaBank. This means that Spanish taxpayers will lose €11.84 billion considering guarantees and due to the fact that the Spanish Government injected €12.622 billion into Catalunya Banc since it was nationalised in 2011. Catalunya Banc was a private bank owned by CatalunyaCaixa, the merger of three historical Catalan savings banks (Catalunya, Tarragona and Manresa). It could not face the deep restructuring process required to meet the new banking regulations. The bank had a weak financial position resulting from a high exposition to toxic real estate and mortgages assets, as well as suffering from poor management. The BBVA will become the second largest bank operating in Catalonia, doubling its past position.

German chemical multinational BASF does not expect to launch its intermodal merchant station in Tarragona's petro-chemical compound until early 2017, two years after it initially forecast. The date of commissioning, as recognised by the company, is conditioned by the start of construction of the third rail connecting the railway line in Tarragona to the Mediterranean Railway Corridor (a strategic transport priority for the European Union), an infrastructure the Spanish Government keeps delaying. Although there is currently no start date for construction, BASF has set up the company ‘Combiterminal Catalonia SL’: a 'joint venture' with Contank SA, Hoyer España SA, and Schmidt Holding GmbH and Tradillo Inversiones SL (Pañalón Group) collaborating to build and operate the station.

Barcelona´s bicycle sharing service, Bicing, has announced plans to launch an electrical bike service designed to aid longer journeys around the city. This service aims to improve the effectiveness of the current Bicing service by promoting the use of electrical bicycles, which will further enhance the image of Barcelona as a ´Smart City´. An initial trial of the new service will begin this December when 300 electronic bikes will be spread over 45 Bicingstations across the city. As with the original Bicing service, this new scheme will be directed towards regular residents of Barcelona and will be unavailable to short-stay tourists.

63% more exports have been channelled through the Port of Barcelona during the first six months of 2014 than in the same period of 2008, prior to the economic crisis. On Friday, the President of Barcelona Port Authority, Sixte Cambra, announced that 2014 will be the year of record sums of exports and imports from the Catalan port. The Port finished the first half of 2014 with 22.5 million tons of goods transported, representing an increase of 7% compared with the same period of 2013. Cambra said that growth occurred in all cargo sections of the port, driven by foreign trade, especially exports.

Barcelona-based Criteria CaixaHolding becomes the second largest shareholder of Suez Environnement after signing a binding agreement with the French-based utility company for the sale of Criteria's 24.14% stake in Agbar (Sociedad General de Aguas de Barcelona, S.A.) in exchange for 22 million newly issued Suez Environnement shares. These shares represent 4.1% of Suez's share capital and €299 million in cash. As part of the agreement, Criteria stated its intention to allocate part of the money received from the purchase of Suez Environnement shares in the stock market, aiming to achieve, depending on market conditions, a 7% stake in Suez Environnement, a company which currently controls 75.35% of Agbar.