investment

Cirque du Soleil and PortAventura theme park have announced that they are pleased with the success of the show 'Kooza', which the Canadian circus company has been performing at the Catalan resort every day this summer, and will consider future collaborations together. PortAventura was the first resort in Europe to host a show from this world-famous entertainment company. From July the 11^th this year up until last Saturday, more than 100,000 people attended the show performed by Cirque du Soleil. As a result of this success, the two companies have agreed to meet again soon to talk about future collaborations. For PortAventura, with nearly 4 million attendees per year, this cooperation is a step towards consolidating its overriding strategy of attracting more international brands and consolidating its position as one of the best family entertainment destinations in Europe.

Barcelona will host one of the main and most innovative business accelerators in the world, Startupbootcamp, which is winner of Europe's 2014 Best Startup Accelerator and specialises in new technologies. The German company will select 10 start-ups from all around the world to help them develop their projects specifically related to the so-called Internet of Things (IoT), which is the technology connecting electronic devices to each other in order to improve quality of life. Startupbootcamp will set up its office in the 22@ technological and business district, which occupies the revamped Poblenou old industrial neighbourhood. During 3 months it will select the projects from the Media TIC building, where the Mobile World Capital has its main offices, which is the foundation that aims to transform Barcelona into the capital for the world's cell-phone and mobility industry, after organising the Mobile World Congress each year.

The Catalan Government has issued a provisional list of the companies that might be granted a license to build and run one of the 6 mega-casinos of the $6 billion BCN World resort to be developed next to Port-Aventura theme park. The surprises are that Catalonia-based Grup Peralada -which runs casinos, luxury hotels, an international performing arts festival and vineyards- is one of the contenders and that the offer with Caesars Entertainment has not been initially accepted. Veremonte, which promotes the entire BCN World project, announced that it had initially presented a total of 3 offers to get 3 casino licenses in association with Melco, Hard Rock and Caesars Entertainment. In addition, there were two non-disclosed additional bids: one from Grup Peralada and one presented by Melco by itself. The Veremonte-Hard Rock and Veremonte-Melco offers have also been pre-accepted, but a third offer from Veremonte and Caesars would be out of the tender, although an appeal might be filed.

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.

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 has gone from 22^nd to 7^th place in the list of 468 European cities with the best economic prospects; it is ranked the 19^th most competitive city in the world and the 10^th in Europe; it stands at 10^th in the world in terms of receiving new business investments; and it became the 4^th city hosting the largest amount of congresses at world level. The report was produced by the Chamber of Commerce of Barcelona in collaboration with the City Council. Furthermore, another study compiled by ESADE business school stressed that Barcelona is the 1^st European city in money spent per tourist in shopping, ahead of London and Paris. The Mayor of Barcelona, ??Xavier Trias, welcomed the news but also emphasised the ''shadow'' of having more than 100,000 unemployed in Barcelona, a number he finds “unbearable.”

A plasma fractionation plant installed in Clayton, North Carolina by the company Grífols was unveiled on Tuesday by the President of the Catalan Government, Artur Mas, along with the President and CEO of the pharmaceutical, Víctor Grífols, and the State Governor, Pat McCrory. The new plant is 14,400 square metres big, will create over 200 jobs and represents an investment of 260 million euros. Expected to be operational by 2015, it will the largest and one of the most advanced plasma fractionation plants in the world. Grífols already has 2,300 employees in the state of North Carolina and it is among the world's top pharmaceuticals within the blood-derivates market. A few weeks ago, Víctor Grífols gave his support to the Catalan President and the self-determination process, which he confirmed on Tuesday.

The Catalan Government issued last Friday the public tender for granting licenses to build six mega-casino hotels in the Costa Daurada, next to PortAventura amusement park. These 6 Las Vegas-style recreational centres are the main part of BCN World, a $6 billion project that will create the largest holiday resort in Europe.  The main promoter of the project, Veremonte, announced on Friday they will be presenting an offer for each of the six hotel and casino licenses in partnership with international investors, such as Chinese casino giant Melco and US multinational Hard Rock. Veremonte also added they have “everything ready” to launch construction.  All candidates must submit a minimum initial investment of €300 million, as well as a business plan to prevent money laundering. The tender will have 2 eliminatory phases and bids have to be presented before 25July.

Hutchison Port Holdings (HPH) intends to make the terminal it runs in Barcelona's Port the most productive in the world, according to Clemence Cheng, Managing Director of HPH Europe. Cheng said that in its first two years the terminal has exceeded all expectations.  The Chinese company will therefore increase its ''commitment'' to Barcelona and will effect the second phase of investment at a cost of €150 million, in addition to the €315 million already invested two years ago. The President of the Catalan Government, Artur Mas, participated on Friday in a ceremony to mark the kick-off of the new phase of construction and took the opportunity to claim the right of self-determination is also in order for Barcelona's Port to have maximum autonomy and not depend on decisions taken far away in Madrid.

Throughout this week the Fira de Barcelona's Montjuic exhibition venue in the Catalan capital is transformed into a business fair for start-ups and entrepreneurs. The BizBarcelona event takes place on Wednesday the 4^th and Thursday the 5^th of June and is the second edition of this innovative business fair. The event serves several purposes and contains as many as six different areas including e-commerce, the financial markets, exports, franchises, business consulting as well as cooperation and networking. The event offers various opportunities for established and future entrepreneurs. BizBarcelona is a welcome initiative. First quarter financial reports revealed a decrease in bankruptcy proceedings, and with a high unemployment rate in Catalonia and Spain it is hoped that these new companies can create jobs.

The Barcelona Metro will reach El Prat Airport by the first half of 2016, perhaps even earlier, according to forecasts announced on Wednesday by the President of the Catalan Government, Artur Mas. The L9 line connecting Barcelona municipality to El Prat Airport and other cities has been under construction since 2002, and was originally anticipated to open in 2008, but the financial crisis and the state of public finances have delayed its full completion. An initial stretch of the line became operational in 2009, located at the opposite end to the airport. Once fully finished, the underground line will consist of two branches spanning across the Barcelona metropolitan area, making it the longest automatic metro line in Europe. The entire project will represent a total investment of €16 billion, €3 billion of which is for the airport connection. The test phase of the airport stretch will begin this autumn and should be completed by early 2016 or earlier.

The Catalan Parliament has finally approved the legal framework allowing the construction and the activities of the BCN World mega-resort, to be located next to PortAventura amusement park in the Costa Daurada. Now, the company Veremonte has the final green light to start construction, after it already had announced the first investors some months ago. Casino giant Melco, hotel brand Melià, US Hard Rock, Value Retail shopping malls and Investindustrial, which owns PortAventura, will participate in the $6 billion project. Furthermore, Ferrari announced it will build its first theme park in Europe there. BCN World involves 6 mega-casinos, large-size hotels, shopping malls, convention centres, theatres, golf courses, parks, a beach club, technology institutes and smart city developments.

The Catalan industrial sector received €1.365 billion of direct foreign investment in 2013, the highest amount since 2005, according to Barcelona’s Chamber of Commerce. This represents 52% of the total foreign investment in Spain’s industrial sector in 2013, while Catalonia represents around 19% of Spanish GDP. Across all sectors Catalonia received a total of €3.51 billion of foreign investment last year, 31% more than in 2012. In addition, the President of the Chamber, Miquel Valls, emphasized that foreign investment in Catalonia went mostly to the industrial sector and advanced services, while in the rest of Spain it mostly went to the recreational and real estate sectors. According to Valls, this indicates that international investors have identified Catalonia with “a new production model”, while this has not happened in the rest of Spain.