The Catalan bank Banc Sabadell’s profits experienced a 39% fall when compared to its 2010 results. However, the entity strengthened its balance sheet thanks to an increase in the core capital ratio, which added up to 10.3%. Despite the persistent instability of the financial markets, Banc Sabadell expanded its market share and its products and services reached 2.7 million customers.
During last year 8,217 human towers built. According to latest data, just 3.5% of the total number of human towers collapsed.
The Catalan airline has a debt of €474 million; €260 million of which is with its shareholders and the remaining €214 millions with providers, airports and social security. The Catalan Government has invested €140 million in the airline, split in loans given to the company and in Spanair’s capital. Spanair stopped all its activity on Friday evening because it could not find any additional funding. All the more than 12,000 Spanair passengers passing through Catalonia over the weekend found an alternative flight using other airlines.
Among the many culinary traditions Catalonia can boast about, the ‘Calçotada’ is one of the most beloved among Catalans. People from all over the territory and in particular those from southern towns such as Valls, eat ‘calçots’ (similar to green onions) with family and friends in special get togethers for the next three months. On January 29th the season kicked off with a festival that brought together 30,000 people.
Due to the impossibility of finding extra capital, the Barcelona-based airline’s board has taken the decision to cancel all its flights and to suspend the company’s activity. Negotiations with Qatar Airways broke down, which forced Spanair’s board to analyse the company’s viability. The Catalan Government, which partially owns the airline, has refused to invest more money in the company, and thus Spanair stopped flying. Passengers will be refunded and will be able to buy discounted tickets with other airlines.
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.
At the end of last year there were 775,400 people registered as unemployed in Catalonia. The Catalan labour market lost 126,700 jobs over the year, which represents a 4% drop in the percentage of people in employment. In Spain as a whole, the unemployment rate reached 22.85%, with 5.273 million people unemployed.
This year's edition Mobile World Congress will be the first after Barcelona was officially declared the Mobile World Capital, and the organising city of this annual event until at least 2018. The MWC will start on February 27th with the motto “Redefining mobile”. More than 1,400 companies will be present and organisers expect to break last year’s records. There will also be three times more Catalan companies.
Emirates have announced they will link Barcelona with Dubai with a daily flight commencing in July. Furthermore, Spanair have announced connections with Beirut and Moscow, as well as more flights with Germany, France, Croatia and Serbia.
Woody Allen’s ‘Midnight in Paris’ produced by the Catalan company Mediapro and the Catalan Public Television Broadcaster, has been nominated for Best Movie, Best Director, Best Art Direction and Best Adapted Script and has already won a Golden Globe. The film ‘Chico y Rita’ has been nominated Best Animated Feature. The movie was developed in the Catalan capital by Barcelona-based Javier Mariscal. However, the Catalan film ‘Pa Negre' has not been nominated in the Best Foreign Language Film category.
Barcelona’s independent fashion fair kicks off this week, running from Wednesday 25th to Saturday 28th. The fall-winter 2012/2013 collections of prestigious brands and designers such as Desigual, Pierre Cardin or Mango will be presented in the centre of Barcelona’s Gothic Quarter in the Plaça del Rei (King’s Square) and the Saló del Tinell, inside the former King’s Palace.
‘L’exili’ (The Exile) is part of Barcelona-based Teatre Lliure’s series “Cartes lliures” (Free Letters) directed by Pau Carrió. The series focuses on the correspondence of Catalan intellectuals, and each “chapter” has a theme. The veteran theatre actors Núria Espert and Josep Maria Flotats, who are considered to be two of the best actors in Catalonia, perform in that focusing on the exile. They read on stage the letters of intellectuals who were obliged to leave Catalonia because of the Spanish Civil War.
The company plans to open 60 new stores around the world in 2012, and build a new logistics centre in the town of Viladecans, located south of Barcelona. This year, the Catalan brand plans to launch a household linen collection and collaborate with the famous Cirque du Soleil to present new designs inspired by the spectacle.
The participation of the Catalan business community and local governments in the management of Barcelona’s Airport has been halted. This has been a long-term claim by many in Catalonia, as they believe that the centralised management of the airports has clearly benefited Madrid over Barcelona. The new Spanish Minister for Public Works and Transport announced the decision to cancel the tender process to privatise the management of Spain’s two main airports, Madrid Barajas and Barcelona El Prat. The reasons for the decision have been put down to a negative time for the markets and a desire for the value of the assets to increase in the future.
The 2011 price increase is 0.5 percentage points below the 3% inflation rate of 2010 thanks to a drop in the price of fuel and oil and the leveling off of tobacco prices. Inflation in December 2011 was 0.2 points higher compared to December 2010.