The ‘Caixa Penedès Vijazz’ kicked off with a concert from the seven-Grammy award winner Al Jarreau. At the heart of one of Catalonia’s most famous wine regions and less than 50 km away from Barcelona, a series of jazz concerts take place over the weekend, combined with wine tasting.
This world important discovery should open new paths to develop new drugs and to ultimately find a vaccine against HIV/AIDS. The finding has been published in the international journal PLoS Biology. The study has been funded by the Spanish Government, the Catalan Government, La Caixa savings bank, Barcelona’s Hospital Clínic and Esteve Labs.
Spain’s largest bank presented its results for 2012’s first quarter. Barcelona-based CaixaBank has reduced its profits by 84% compared to the same period last year in order to immediately fulfil all the new financial requirements decreed by the Spanish Government in February. The Catalan bank has allocated €2.44 billion in provisions in the last quarter. CaixaBank’s CEO explained they wanted to concentrate their efforts in this first quarter. Besides, the bank’s President explained that despite Repsol-YPF’s episode in Argentina, they will carry on with their expansion plan in the Americas, with the support of Carlos Slim, opening new branches in Chile, Colombia and the United States.
The bank created from Catalan savings bank CatalunyaCaixa is expected to be sold within the next two months. CatalunyaCaixa was intervened by the Bank of Spain last September 30th, as it could not reach the required core capital. The Spanish Fund for Orderly Bank Restructuring (FROB), owned by the Spanish State, currently owns 89.74% of CatalunyaBanc. The FROB has decided to disinvest in the Catalan bank, which starts a competition process that will sell 100% of CatalunyaBanc’s shares.
‘The Clothed Maja’, ‘the Quitasol’, ‘the Puppet’ or the ‘Witches Flight’ are some of the canvases included in the largest retrospective exhibition on Goya organised in Barcelona in the last 35 years. Held at the Catalan capital’s CaixaForum, the exhibition ‘Goya. Lights and Shadows’ is organised by the social work foundation of the Catalan bank La Caixa and the Prado Museum. 96 pieces of the Aragon master’s work, including oil paintings, drawings and picture cards, will be on display for free until May 24th.
CaixaBank, the main Catalan financial institution experienced a 12.8% drop in its net profit when compared to 2010. In 2011, it focused on increasing its core capital ratio to 12.5% -one of the highest levels in Europe- to strengthen its inner resources and, at the same time, left generic funds for insolvencies intact, cementing its robust position in the financial sector.
The President of Barcelona’s Chamber of Commerce hopes others will join them by adopting a model that combines both public and private cooperation to offer companies new services such as a fund of €2 billion for loans or access to a world network of 1,500 chambers of commerce. With this new model, the Chamber wants to leave the past two years of budget cuts behind, focus on the future, be more useful to its members and offer added value services.
Catalan CaixaBank (La Caixa's private bank) will need €630 million while Banco Santander will be the bank with the highest capital requirement with €15.3 billion euros. The European Bank Authority (EBA) has tightened the core capital requirements and increased the limit up to 9% which forces European Union banks to recapitalise with €114.685 billion.
China, Japan, Philippines and Malaysia are some of the countries that will host the exhibition ‘The Turn of the Century in Spanish Contemporary Art’, formed by works from the Barcelona Contemporary Art Museum (MACBA) and the foundation of the Catalan savings bank ‘La Caixa’. The collection of both entities consists of 5.500 artworks and is considered one of the most important compilations in Southern Europe. The exhibition touring in Asia will include artworks from Spanish sculptors and painters like Antoni Tàpies, Eduardo Chillida or Miquel Barceló, from the last 50 years.
The main Catalan bank allocated 1.953 billion euros for insolvencies and raised its core capital to 11.8%, 2.9 percentage points more than the ratio it had in December 2010. These operations made their net profit decrease by 16.6% compared to the previous year. Besides, CaixaBank announced that Mexican billionaire Carlos Slim will quit its board to rejoin that of the bank’s industrial holding ‘Criteria CaixaHolding’. Slim’s seat will be occupied by former Chairman of Citigroup and the New York Stock Exchange John S. Reed.
More than thirty Chinese companies and investment agencies have visited Barcelona in search of business opportunities. The Catalan capital is a gateway to the European market for Asian companies, thanks to its sea port, airport, geographic location and a dynamic and well connected economy. In addition, Barcelona is also a leading centre in the Euro-Mediterranean Area.
Barcelona-based CaixaBank, the private bank of ‘La Caixa’, will pay 16 million euros for the purchase of both businesses. Bankpime is a bank for small and medium-sized companies. CaixaBank will control a total volume of 1,200 million euros. CaixaBank will buy Bankpime’s credit investment portfolio -which is worth 363 million euros-, the fund management business –with some 400 million euros traded, the 19 branches of the bank, and client deposits worth some 436 million euros.
"Other Egypt" brings together over 200 pieces formally preserved in the Louvre, many of which had not never left Paris since their arrival. The exhibition pictures the Christian heritage of Egypt; from the Roman times to the Arab conquest in the 7th century, Egypt was a Christian country.
The new bank becomes Spain’s third financial institution for its stock exchange value and the ninth in the Ibex-35 Spanish index. CaixaBank is the result of Barcelona-based savings bank La Caixa’s transformation into a private bank in order to strengthen its structure and position in the market, after the sector restructuration. The day CaixaBank was listed for the first time on the stock exchange, the rating agency Moody’s improved CaixaBank’s appreciation. However, after an initial increase CaixaBank’s value dropped by 1.1%. It is the first Spanish savings bank that concludes its transformation and trade on the stock exchange.
The transformation of the savings bank La Caixa’s industrial holding, Criteria into the private bank CaixaBank is reaching the final stage. Criteria’s stockholder board approved duplicating the current stocks by issuing 300,000 convertible bonds. The new bank expects increasing its market share in Spain by 50% through business activity increase and new acquisitions in the period 2011-2014. The announcement is made the day after billionaire Carlos Slim bought 900,000 CaixaBank stocks.