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Features

  • Weekend meetings fail to address Forex matters

    During the weekend, various G7, IMF and World Bank meetings failed to prop up any specific agreement on Forex matters and left countries contemplating on engaging in “currency wars” (a term coined by the media) as still free to manoeuvre. The term...

  • Healthcare without frontiers

    Healthcare without frontiers

    A series of rulings by the European Court of Justice (ECJ), beginning over a decade ago, established that healthcare could be sought by EU citizens in any member state, while patients seeking such cross-border healthcare were entitled to have...

  • Bay Street seeks to repurchase €6.5 million worth of bonds

    Bay Street seeks to repurchase €6.5 million worth of bonds

    In a first for the local financial market, Bay Street Finance plc announced last week that it will be seeking to repurchase all its outstanding bonds amounting to €6.5 million at a price of 102 per cent. This offer will be valid between October 15...

  • Safer use of medicines

    Safer use of medicines

    A number of measures guaranteed to enhance the safe use by consumers of medicines found on the EU market have finally seen the light of day. The recent vote of approval taken by the European Parliament on a substantial number of amendments to EU...

  • FimBank announces new short-term bond issue in EUR and USD

    FimBank announces new short-term bond issue in EUR and USD

    FimBank plc issued a company announcement last week informing the market that it had applied to the Malta Financial Services Authority to issue a new bond amounting to an equivalent €25 million subject to an over-allotment option of up to a...

  • RBA keeps rates on hold and BoJ eases further

    Last Tuesday the Reserve Bank of Australia (RBA) unexpectedly kept the policy rate unchanged. Markets were expecting a 25bp rate hike given the RBA’s recent hawkishness, so inevitably, the Aussie suffered selling pressure and fell against its...

  • The prospects of further QE weigh significantly on the USD

    EUR/USD trading was generally bullish up till early this week, even though the pair suffered some corrections. On Monday EUR/USD trading pushed the price for the pair up to 1.3505, which level had only been seen back in April 2010. This bullish...

  • Local equity market underperforms international markets in Q3

    Local equity market underperforms international markets in Q3

    As the third quarter of the year comes to a close, the local equity market is heading for a slight decline during the summer months. While the third quarter was off to a strong start on the Malta Stock Exchange with the Index for local share...

  • Parental leave allowance

    Parental leave allowance

    In Malta, working parents, including adoptive ones, have the individual right to be granted parental leave on the grounds of birth, adoption or legal custody of a child to enable them to take care of that child for a period of three months. This...

  • Japan intervenes to curb JPY strength

    On Wednesday of last week the Bank of Japan intervened in the currency markets, selling Japanese yen and presumably buying US dollars, in an effort to stop the strengthening of the yen. Intervention came just below the breach of the 83.0 level...

  • The growth of the local corporate bond market

    The growth of the local corporate bond market

    The number of new issues in the local bond market during the past two years indicates that the Malta Stock Exchange is now being widely recognised as a source of funding complementary to bank financing for those companies aiming to grow, develop...

  • More on the gaming industry

    The ire of the European Court of Justice against those member states which seek to impede companies established in other member states from penetrating the gaming market in another state, has now turned onto Austria. Following the recent ruling...

  • Risk aversion eases but Swiss franc still enjoying support

    Risk aversion eased earlier this week as China reported upbeat industrial activity and retail sales. Even the financial sector had a sigh of relief as banking regulation, agreed upon over the weekend, was more accommodating than what had been...

  • Online gambling operations

    Online gambling operations

    The last months have been characterised by a series of legal developments at EU level: landmark judge­ments were delivered by the European Court of Justice, an increasing number of preliminary cases were filed, and several opinions of Advocates...

  • Growing concerns over level of bond yields

    Growing concerns over level of bond yields

    Bond yields have touched record low levels in recent weeks, and there is growing evidence of concerns in the international press on the effects of a return to higher yields when this materialises. Investors have been seeking refuge in...

  • European banks’ stress tests questioned again

    The first few days of September were generally in favour of the “riskier currencies”, namely the euro, British pound, Canadian dollar, Australian dollar and New Zealand dollar. The upbeat was mainly on the back of better than expected data for the...

  • A step closer towards the adoption of the new late payments directive

    A step closer towards the adoption of the new late payments directive

    Both public bodies and private companies will soon be obliged to honour deadlines when paying their creditors in order to be spared high interest rates on the amount of their debt. Concerted efforts between the EU institutions seeking to iron out...

  • Go achieves strong performance from local operations in first half of 2010

    Go achieves strong performance from local operations in first half of 2010

    The 2010 half-year results published by Go plc last week reveal the discrepancy in performance between the Group’s local operations and the Greek telecoms company Forthnet in which Go has an indirect shareholding of circa 20 per cent. In view of...

  • Enhancing the Corinthia brand

    Enhancing the Corinthia brand

    The opening of the London hotel development and its expected posi­tive impact on the global positioning of the Corinthia brand was among the key themes men­tioned by IHI’s chairman Alfred Pisani in his address to stockbrokers earlier this week.

  • The week after the Jackson Hole Symposium

    Last Friday at the Jackson Hole symposium, the much awaited intervention by Federal Reserve chairman Ben Bernanke managed to ignite a market rally. The major US equity indices closed in the positive territory on Friday and Asian equity markets...

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