latin america

The head of the South American trade bloc chamber emphasized that “political differences” must be resolved democratically

During a cultural event in the Mexican capital, Alfred Bosch says future delegation will act as gateway to Latin America

Salvador Sunyer, Director of the theatre festival Temporada Alta, is a great example of what defines an entrepreneur. He created the company ‘Bitò Produccions’ in Girona in 1992 along with two professional local actors who wanted to stimulate theatrical activities in the city. They immediately planned the creation of a new festival called the ‘Temporada Alta’ 24 years ago as a short cycle based on premieres, but it has grown at such a great speed that they have achieved a 90% occupancy rate every year since 2000. Last year they sold 94% of all tickets. Without a doubt, the Festival has become a point of reference in the sector, considered by experts as the best festival in Spain in terms of quality and pioneering spirit. For this reason, in 2010, Sunyer received Catalonia's National Theatral Award. Sunyer works hard to bring to Girona the greatest artists from the international scene as well as being a platform for presenting new local talents

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.

FC Barcelona will go on a tour of the United States of America and Mexico in the summer four years after their last pre-season tour of the continent. Despite dates not yet being confirmed, the Catalan club has made official the news that the blaugranes will be returning to American soil for the fifth time in the last twelve years (2003, 2006, 2009 and 2011).In 2012 the team took part in various pre-season games across Europe and in 2013 they toured the Asian continent. In 2014 with Luis Enrique installed as coach, the squad enjoyed a pre-season training camp in Birmingham in the United Kingdom before playing in three friendly matches in Nice in France, Geneva in Switzerland and Helsinki in Finland.

The Catalan fashion multinational Desigual will be strengthening its presence in the Americas over the coming months. In 2015 it will be entering new markets, with the opening of its first three stores in Mexico and three in Montreal, Canada. Its entry into the Aztec country will be made through a franchise, alongside the company El Palacio del Hierro (the Iron Palace) which owns luxury boutiques in Mexico, a market considered a “priority” by Desigual. Thanks to this cooperation, Desigual clothes will be sold in almost 30 different department stores throughout Mexico. In addition the Catalan brand will open its own boutiques in Andares in Guadalajara, Antea in Querétano and in Mexico City. Moreover, Desigual has also committed to strengthening its presence in the US before the end of 2015, with the opening of two new stores, one in Miami and the other in Las Vegas.

The energy company Gas Natural Fenosa announced they have launched a tender offer for 100% of the share capital of the Chilean Compañía General de Electricidad (CGE), which represents a €2.6 billion purchase. The transaction is to be the biggest international  acquisition by the Barcelona-based company. The total size of the operation, including the consolidated debt of CGE and its subsidiaries, is approximately €6 billion. It expected to generate over €600 million gross profit next year. Purchase of CGE, which distributes electricity to 43% of the Chilean market, and has 2.5 million customers, will increase the Catalan company's presence in Latin America. Furthermore, this deal will allow Gas Natural Fenosa to meet its 2015 growth targets and strengthen its presence in Latin America.

The German chemical and pharmaceutical company has picked Barcelona to provide shared services to its subsidiaries in Greece, Turkey and Latin America, which account for 25% of the total group sales. Bayer’s Shared Service Centre in the Catalan capital will expand its tasks and responsibilities by taking over the accounting, controlling and IT services for these geographical areas. The expansion will take place over 2014 and the centre will pass from being in charge of 11 countries to 22, managing over 50 Bayer subsidiaries. The General Manager of Barcelona’s Centre, Erik Schonebeck, stated the project would “consolidate” the 300 existing jobs in the Catalan capital but no further new jobs would be created in the short-run. Barcelona hosts one of Bayer’s 5 global headquarters.

The Board of Directors of Catalonia-based Banc Sabadell has approved a capital increase operation of €1.4 billion. The transaction will take place in the form of two consecutive increases in order to “strengthen capital and allow new important shareholders to join the bank aiming [to reinforce] the future internationalisation process of the bank”. The decision by Sabadell, Spain’s fifth largest bank, to carry out this operation was taken after finding out about the “growing interest” of international investors to acquire stable assets of the Catalan financial entity. It is expected that at least €1.33 billion will be attracted, which will subsequently make Banc Sabadell to one of the best capitalised banks in Europe with a core capital beyond 11%.

The multinational energy company has confirmed it will continue operating in Panama for at least 15 more years through its subsidiary companies Edernet and Edechi, which control 65% of the country’s electricity market, supplying more than 500,000 clients. Gas Natural Fenosa owns 51% of both Edernet and Edechi, while the rest of the shares are controlled by Panama’s Government. The Catalan multinational entered Panama in 1998. According to Gas Natural Fenosa, it has invested more than €400 million to strengthen the electric power network of the Central American country and it foresees an additional investment of €230 million within the next 4 years.

The 19th edition of the Latin American Film Festival in Lleida ended last weekend after showing 117 films from 14 different countries. Argentine film director Gustavo Garzón’s movie 'Por un tiempo' (‘For a time’) had its world premiere while honorary awards were delivered to Spanish actor José Coronado and Mexican actor Damián Alcazar. 'Porcelain horse' (Mejor no hablar de ciertas cosas), directed by Ecuador’s Javier Andrade, won the Best Film Award. The budget for this year’s edition had been reduced by 24% and the Festival was forced to remove documentary and retrospective sections from the programme.

54% of Catalonia’s external sales go to the international market while the remaining 46% go to the rest of Spain. The number of Catalan companies which sold their products outside of Spain in 2012 was 45,000 enterprises, representing a 6.3% increase in relation to the 2011 figures and 11,554 more companies than at the start of the economic crisis. The export sector represented €58.28 billion, which was 28% of Catalonia’s GDP in 2012. The figure represented a 5% increase compared to 2011 and a 15% growth on data from before the economic crisis. Sales outside the European Union increased by 16% last year, especially in Oceania (61%), Africa (24%) and Latin America (21%).

The Catalan company counterbalanced its fall in the Spanish market with benefits from international sales. Foreign market activity contributed 42% of the profit from the first quarter to Gas Natural Fenosa, in contrast to 36.6% in 2011.