la caixa

Two institutions will continue to work together putting on new exhibitions in CaixaForum centres between 2020 and 2024

The exhibition 'Drawing Versailles. Charles Le Brun (1619-1690)', from the Paris Louvre Museum's collection, will be displayed in Barcelona’s CaixaForum until the 14^th of February. The exhibition shows the preliminary cartoons and sketches that painter Charles Le Brun did for the Staircase of the Ambassadors and the Hall of Mirrors in the Palace of Versailles. The drawings include studies of characters, allegorical figures, trophies and animals that formed part of the artist’s compositions, conceived as a great symbolic jigsaw puzzle. The Louvre Museum has 300 of these drawings and 78 of them will now be displayed in Barcelona's CaixaForum. The exhibition is the fruit of an agreement reached in 2009 between the two institutions through which many exhibitions from the Louvre can be shown in the Catalan capital. 

The collaboration will bring to Catalonia some of the masterpieces of the great civilisations that are currently on display in the British Museum. Most of them are pieces that are rarely loaned to other museums and that will be seen in Spain for the first time ever. The four projects will focus on Medieval Europe, Ancient Greece, the Pharaohs of Egypt and the Phoenicians. Between 2016 and 2020, the exhibitions will be displayed in Barcelona, Girona, Tarragona, Lleida, Palma and three other ‘CaixaForum’, the centres that normally host the exhibitions promoted and organised by ‘La Caixa’ Bank Foundation. The Bank Foundation of ‘La Caixa’, which is the biggest bank in Catalonia, is the section of the bank that focuses on welfare projects committed to society, education, science, the arts and culture.

Veremonte has walked out on the BCN World project, the largest holiday resort in Europe based in the Costa Daurada, near Tarragona, as first announced by the Catalan Business Minister, Felip Puig, on Thursday and later confirmed by the company itself. However, Puig has assured that this will not impede the project's continuation as companies such as Melco, Hard Rock, Grup Peralada and Value Retail remain committed to it. Veremonte did not provide any further details about its decision. The investment company was initially leading the initiative and had reached an agreement with La Caixa bank to buy 500 hectares of land in 2012. However, it missed the final deadline last December to do so and the Catalan Government had to jump in to guarantee the project's continuation, reaching an agreement with La Caixa for the land. However, Veremonte was still linked to the initiative through the casino licences' tender, which it bidding for in partnership with Hard Rock and Melco.

Veremonte has added additional uncertainty to the future of the BCN World project, the largest holiday resort in Europe based in the Costa Daurada, near Tarragona. After a $6 billion investment, it will include – among other facilities – 6 mega-casino hotels, amusement parks and shopping malls. Veremonte – which was initially leading the project – announced that it could leave, depending on how the Catalan Government will develop the final Urban Plan and how it will set the conditions for the second phase of the casino licences' tender. In 2012, Veremonte had already reached an agreement with La Caixa bank to buy 500 hectares of the land. However, the company missed the first deadline and did not meet the second one (last December) to do so, arguing that the final Urban Plan had not yet been approved. The Catalan Government then jumped in and reached an agreement with La Caixa for the rights to buy the land and guarantee the project's continuation. Veremonte still continues to be linked to the project through the casino licence tender, for which it is running with Hard Rock and Melco.

The "La Caixa" Foundation has opened Moche Art from Ancient Peru. Gold, Myths and Rituals, an exhibition to be hosted at CaixaForum in Barcelona until the 7th of June. The exhibition includes 200 pieces of pre-Incan Peruvian art from the collection of the Lima-based Larco Museum. According to its curator Ulla Holmquist, the exhibition is conceived "as a route to understanding the Andean worldview through art". The launch of the event coincides with the recent opening of Barcelona's Museum of World Cultures, which hosts a permanent exhibition of more than 500 pieces from the artistic heritage and traditions of Asia, Africa, the Americas and Oceania. The Museum of World Cultures occupies two Gothic palaces located in the Born neighbourhood, just next to the Picasso Museum.

The Costa Brava-based Cap Roig's music festival will hold its 15^th edition from 10 July to 16 August. Many international and local artists will take part in the event which will start with a performance by one of the greatest exponents of British pop-rock, Sting. The following day, American singer-songwriter Ben Harper will be on stage playing with his legendary band, The Innocent Criminals, in their first tour together for seven years. The festival will also host other big names of international renown such as Lady Gaga & Tony Bennett, Rosario, Antonio Orozco, Julieta Venegas, Miguel Bosé, Passenger and Macaco. Among the featured Catalan artists will be: Mishima with Joan Miquel Oliver, Blaumut, Els Amics de les Arts and Núria Graham. The festival will end with Alejandro Sanz's performance.

The Catalan Government is now managing the sale of the 150 hectares owned by La Caixa on which the BCN World holiday resort should build its 6 macro-casinos. On Thursday the bank and the Catalan Executive signed the agreement, which comes the day after the private investor Veremonte announced it was postponing the land purchase once again. Veremonte had an exclusivity agreement to buy 500 hectares of land before December 10 at midnight for €380 million, but it postponed the purchase because the urban planning details were still unknown. However, the core of BCN World's project, which is the 6 Las Vegas style hotels and casinos as well as a luxury shopping mall, only takes up 150 hectares. The Catalan Government decided to jump in to strengthen the project and guarantee that the main plots will be available for private investors to build the casinos. It will manage the sale for the next 18 months, while the definitive and detailed urban planning for the area should be approved in July 2015. The other hectares will be directly sold by La Caixa.

The Catalan banking system boasts a strong image after the publication on Sunday of the 2014 EU-wide stress test results, issued by the European Banking Authority (EBA). All the financial entities based in Catalonia have sailed through the EBA stress test, showing they could face the most adverse economic developments with only their own resources. In the most difficult scenario, Barcelona-based CaixaBank – which is the largest bank in the Spanish market – reached a 9.3% equity ratio (CET1), Banc Sabadell got an 8.3% and Catalunya Banc an 8%. The minimum required was 5.5%, which was not reached by 24 of the 123 European banks analysed. Only one Spanish entity, Madrid-based Liberbank, would need additional capital in the worst case scenario.

Barcelona-based CaixaBank, which leads the Spain's banking market, registers a net attribute profit of €305 million during the first half of 2014. This is 25.3% less than 2013 and it is due to extraordinary operations such as the costs of totally integrating Banc de València and the effects of 2012 regulatory regarding the restructuring of toxic real estate assets. Apart from that, the profit attributable to the banking and insurance business, which excludes real estate activity and the investments portfolio, stands at €665 million. The banking business has generated €1.72 billion, representing a 6.8% increase, and highlights the acceleration of the decrease of the delinquency rate, which fell for the second consecutive quarter and now stands at 10.78%, 88 basis points less. 

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.

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.

On the 16^th July Barcelona art centre Caixaforumopened its last major exhibition of the season entitled ´Beauty captivates. Little treasures from the Museo del Prado´. The exhibition contains 135 small canvases from the great artists within Madrid´s museum collection such as Velázquez, El Greco, Rubens, Goya and Tiziano. It will run for almost six months, until the 5^th of January 2015. The exhibition will enable visitors to contemplate the virtuosity of great masters of painting from the 14^th to the 19^th century dealing with small-scale works. It is the second largest collection of works that a host museumhas exhibited from the Museo del Prado, one of Europe's largest art collections.

Barcelona's Sagrada Familía Basilica and Museum and Figueres' Salvador Dalí Theatre-Museum topped Catalonia's visitor rankings with 3.18 million and 1.58 million respectively.  In total, 21,593,992 people visited Catalonia's museums and collections during last year. FC Barcelona's Museum came in third place with 1.51 million people, followed by the science museum CosmoCaixa (1.25 million) and the temporary exhibitions' centre CaixaForum Barcelona (979,000 people). The last two are owned and managed by the Catalan savings bank La Caixa. The Art-Nouveau buildings designed by Catalan architect Antoni Gaudí La Pedrera and Casa Batlló are also among the highlights, with 973,000 and 796,000 visitors respectively. Barcelona's Picasso Museum (915,000) and the Joan Miró Foundation (911,000) are also among the most popular art centres.

On Tuesday the Barcelona-based bank, which is the largest financial entity within the Spanish market, attracted a strong €2.6 billion demand, 88% of which came from international investors. It was CaixaBank's 10-year mortgage covered bond first issue since 2007, before the financial crisis. The operation will boost the Catalan bank's liquidity position, which stood at €60.762 billion at year-end 2013, 17.9% of its total assets. In addition, it satisfies demand from institutional investors for this product. The issue price was 80 basis points over the mid-swap rate and better than expected thanks to strong investor demand. This means CaixaBank sold the mortgage covered bonds at an interest rate of 2.625%, 67 basis points below the last rate for a similar issue by the Spanish Treasury.